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MINUTES <br />City Council <br />April 22, 1987 <br />Boosalis Boosalis stated that they would consider this. <br />(Cont.) <br />Dr. Krienke appeared before the Council. Krienke is the owner of <br />the property, and selling it to Boosalis. Krienke stated that he <br />would like to see the property developed at one time, however, <br />Boosalis has been the only interested developer. Krienke reported <br />that the green area shown on the plans does not contain cattails <br />and, therefore, Krienke did not feel that this area should be used <br />for drainage purposes. <br />Fahey pointed out that the Council must consider this area now and <br />not give anyone false hopes that it can be developed. <br />Krienke reported that the Engineer informed him that water runs <br />out of this area. Krienke also pointed out that the City has <br />limited his use of the property, and he feels the Boosalis development <br />appears to be a fine one. Krienke also pointed out that if the <br />developer wants to build a gas station/convenience store across from <br />an existing one, it is the developer taking the risk. <br />Fahey stated that he would not be willing to grant tax increment <br />financing to put another gas station/convenience store in the area. <br />Krienke pointed out that tax increment financing was used in Arden <br />Hills to put in an animal hospital which is in direct competition <br />with his. <br />Fahey thought that industrial revenue bonds might have been used <br />in that instance. <br />Blesener also pointed out that the City has used its allotment of <br />industrial revenue bonds for the past few years, so it may not <br />have been a portion of the City's allotment that was used to assist <br />the Arden Hills animal hospital. <br />Blesener stated that he would not be in favor of the use of tax <br />increment financing for this proposal and agreed with Bill Davison's <br />statement at the Planning Commission that this financing should be <br />used for innovative construction. <br />Fahey asked if the development would qualify for industrial revenue <br />bonds. <br />Dan Wilson of the Planner's office replied that recent changes in <br />tax laws have basically eliminated industrial revenue bonds for <br />projectssuch as this. <br />Scalze stated that she would support tax increment financing if <br />the project were more creative and combined the property to the <br />north. <br />Page -7- <br />