07-23-86 Council Minutes - Laserfiche WebLink

Home Browse Search

MINUTES City Council July 23, 1986 Larson The foregoing resolution was duly seconded by Mr. Blesener. Lot Split Ayes (5) Blesener, Fahey, Collova, Scalze, Nardini. (Cont.) Nays (0). Resolution declared adopted. This resolution appears in Resolution Book No. 15, Page 390. Executeam Mr. Mike Kennedy, representing Executeam, appeared before the Development Council and reported that his firm is interested in building a & Tax Increment 10,000 square foot office building on the property on the Financing corner of Little Canada Road and Centerville Road, including the Mondor property, if the City would approve tax increment Agenda financing and extend the excess funds generated through Item No. 12 tax increment financing. Executeam would pay the $85,000 associated with the acquisition of the McNamara property on Little Canada Road and Centerville Road. The Planner suggested that he be authorized to draw up a tax increment plan for this property and that a public hearing be set and then the various issues involved, such as relocation costs, can be discussed. Mr. Blesener suggested that if tax increment financing is used in this instance, that a 20 year issue be used rather than a longer period of time. The Planner suggested that this is something that the City's bond consultant would look at and make a recommendation on. The Planner stated that he could have a plan ready for discussion at the August 13 meeting. At that time the plan could be referred to the School District and County for comment and a public hearing set. Nardini pointed out that there is a small parcel of property in the area of which the ownership is questionable. Mardini suggested that this matter be resolved at the same time. The Planner replied that the property would have to be subdivided eventually, and the parcel Nardini referred to could be handled at that time. Mrs. Scalze introduced the following resolution and moved its adoption: RESOLUTION N0. 86-7-334 - AUTHORIZING THE PREPARATION OF A TAX INCREMENT PLANNING DISTRICT FOR THE PROPERTY LOCATED AT THE CORNER OF LITTLE CANADA ROAD AND CENTERVILLE ROAD, INCLUDING THE DENNIS MONDOR PROPERTY Page -13-