Laserfiche WebLink
MINUTES <br />City Council <br />May 13, 1987 <br />Thunder Bay The Planner informed the Council that tax increment financing cannot <br />II Addition be used for speculation, and the City would have to resell the property <br />(Cont.) to the developer. <br />Fahey suggested that the developers recess and discuss the amount <br />they are willing to pay the City for the ldright property with the <br />condition that the house be removed. <br />Wilson explained the mechanics that would be involved regarding <br />closing on the Wright property and the developers payment to the <br />City for the property. Wilson noted that the City's involvement <br />would be minimized, including the amount of money required from <br />the City. Details would be worked out and a development agreement <br />drawn up. <br />Fahey asked if the County or School District had the power to veto <br />the use of tax increment financing. <br />The Planner replied that they did not have veto power, however, <br />the City had to prepare a tax increment plan for submission to <br />the County and School District for their comment. Also, a public <br />hearing would have to be held. blilson noted that the entire Thunder <br />Bay II Addition plat would be designated as a tax increment financing <br />district. <br />At this point the Thunder Bay II Addition developers recessed to <br />discuss how much they were willing to pay the City for the purchase <br />of the Wright property. <br />Easement The City Attorney submitted for approval an easement to be purchased <br />Purchase from Patrick C. Murray for Improvement No. 86-5. <br />Imp. No. <br />86-5 Mrs. Scalze introduced the following resolution and moved its adoption: <br />Patrick C. <br />Murra,y RESOLUTION N0. 87-5-198 - APPROVING THE <br />PURCHASE OF AN EASEMENT FROM PATRICK C. <br />Agenda MURRAY IN CONJUNCTION WITH I~1PROVEMENT <br />Item No. 13 N0. 86-5 AS RECOPIP9ENDED BY THE CITY <br />ATTORNEY <br />The foregoing resolution was duly seconded by Mr. Collova. <br />Ayes (5) Scalze, Collova, Blesener, LaValle, Fahey. <br />Nays (0). <br />Resolution declared adopted. <br />This resolution appears in Resolution Book No. 17, Page 216. <br />St. John's The City Attorney reported that the attorney representing St. John's <br />Church & Church is requesting that the Church be reimbursed for the easement <br />Imp. No. necessary in conjunction with Improvement No. 86-4. <br />86-4 <br />Agenda <br />Item No. 14 Page -7- <br />