11-26-85 Council Minutes - Laserfiche WebLink

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PIINUTES City Council Nov. 26, 1985 Rutzick Mr. Sherman Rutzick appeared before the Council requesting preliminary IDB's approval for industrial revenue bonds for development of the Cardinal property with office buildings and apartments. Agenda Item No. 5 There was no one present from the audience wishing to comment on the Rutzick request. The City Clerk informed Rutzick that the City has a$1 million industrial bond allocation and it would be Rutzick responsibility to secure the remaining funds for his bonds from the pool. Rutzick stated that he understood this. Council first considered the industrial revenue bonds for the commercial portion of Rutzick's development. Mrs. Scalze introduced the following resolution and moved its adoption: RESOLUTION N0. 85-11-552 - CLOSING THE PUBLIC HEARING ON THE RUTZICK REQUEST FOR INDUSTRIAL REVENUE BONDS FOR HIS COMP1ERCIAL DEVELOPMENT The foregoing resolution was duly seconded by Mr. Fahey. Ayes (5) Scalze, Fahey, Nardini, Collova, Blesener. Nayes (O). Resolution declared adopted. This resolution appears in Resolution Book No.l2, Page 581. Mrs. Scalze introduced the following resolution and moved its adoption: RESOLUTION N0. 85-11-553 - RECITING A PROPOSAL FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJFCT GIVING PRELIMINARY APPROVAL TO THE PROJECT PURSUANT TO THE P4INNESOTA PIUNICIPAL INDUSTRIAL DEVELOPMENT ACT AUTHORIZIN6 THE SUBMISSION OF AN APPLICATION FOR APPROVAL OF SAID PROJECT TO TNE E~lERGY, PLANNING AND DEVELOPMENT AUTHORITY OF THE STATE OF MINNESOTA AND AUTHORIZING THE PREPARATION OF NECESSARY DOCUMENTS AND MATERIALS IN CONNECTIOM WITH SAID PROJECT The foregoing resolution was duly seconded by Ms. Nardini. Ayes (5) Scalze, Nardini, Fahey, Collova, Blesener. Nayes (0). Resolution declared adopted. This resolution appears in Resolution Book No. 12, Pages 582 thru 585. Page -10-