05-13-87 Council Minutes - Laserfiche WebLink

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MINUTES City Council P4ay 13, 1987 Twin Lake Fahey suggested that the City Attorney and City Fngineer research Trail State law with regard to decible readings on behalf of the Twin Landscaping Lake Trail residents to see if the residents are in a position of (Cont.) requiring the State to bring the area in conformance with State law regarding noise. Fahey also suggested that some current decible readings be made in this area. Mr. LaValle introduced the following resolution and moved its adoption: RESOLUTION N0. 87-5-197 - AUTHORIZING THE CITY ATTORNEY AND CITY ENGINEER TO PURSUE WITH THE STATE TNE CONSTRUCTION OF A BERM ALO~IG THE TWIN LAKE TRAIL AREA, WITH THE CITY PARTICIPATING IN TERMS OF PROVIDI~IG FILL D1ATERIALS FOR THE BERM AND THE STATE PROVIDING ACTUAL CONSTRUCTION OF THE BERM AS 41ELL AS LANDSCAPING MATERIALS The foregoing resolution was duly seconded by Mrs. Scalze. Ayes (5) LaValle, Scalze, Fahey, Blesener, Collova. Nays (0). Resolution declared adopted. This resolution appears in Resolution Book No. 17, Page 215. Thunder Bay Dan Wilson, City Planner, presented to the Council a report dated II Addition May 7, 1987 regarding the use of tax increment financing in the & Wright Thunder Bay II Addition. The report outlined the City's purchase Property of the Wright property with resale to the developers in order that the Wright house could be removed and the proposed road installed Agenda without necessity for a variance. Ttem No. 6 4Jilson outlined the details of the report in which it is explained that the Wright home would be purchased for $70,000, and resold to the developer for $~46,000. The gross project costs would be $75,000 which include $4,000 for TIF Plan Preparati~n and $1,000 in attorney fees. The ~29,000 shortfall would be financed through tax increment financing, and Wilson anticipated a pay-back of this amount by October of 1991. Frank Frattalone reported that he felt that if he, as one of the developers of Thunder Bay II Addition, had to purchase the Wright house, it should be allowed to remain. The house could then be resold to a purchaser who would be aware of the location of the new road. Frattalone reported that his purchase price of $46,000 was with the understanding that the house would remain. Fahey noted that a variance would be necessary for the location of the road, should the Wright house remain. Fahey felt that the first matter of consideration was whether the Page -5-