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MINUTES <br />CITY COUNCIL <br />SEPTEPSBER 25, 1996 <br />can be scheduled with property owners. Fahey pointed <br />out that if the Venetian property is acquired, and the <br />Venetian intends to relocate across the street, the <br />size of the development they are planning may not <br />warrant the City's participation. <br />Fifield stated that the City must make sure all the <br />pieces fit together. Very preliminary numbers have <br />been put together. It will take a certain scale of <br />development to generate enough increment to cover land <br />costs. <br />Fahey asked if the Venetian was interested in land <br />located outside the TIF District, if TIF dollars could <br />be used to purchase that land. <br />Fifield reported that the City would have to expand the <br />boundary of the development district to include the <br />land. Fifield suggested if this is something the City <br />wants to act upon, it should do so before the <br />legislative session begins in January. Fifield <br />suggested amendments be made to the TIF financing plans <br />for Thunder Bay and North Star Turf. Fifield suggested <br />the City may want to take a look at the other TIF plans <br />to determine if any additional amendments are <br />necessary. <br />Fifield indicated that if the City exercises any of <br />these debt issuing opportunities, he would want the <br />City to consider tying together this debt with the <br />financing for 1997 public improvements. The City <br />should also get any TIF amendments completed before the <br />legislative session starts to avoid any adverse <br />legislation which may be introduced. <br />Fifield suggested he begin the process of amending the <br />Thunder Bay and North Star Turf financing plans. At <br />the next Council meeting, he will present a schedule of <br />public hearings that are necessary. <br />Scalze suggested the Kandice Heights TIF District be <br />expanded to extend up to Little Canada Road. <br />Fahey hoped the City would have the review appraisals <br />prior to the October 9th meeting so discussions can be <br />initiated with property owners. Fahey also pointed out <br />that a survey of the Round Lake and Country Drive <br />property owners will show if there is any other <br />interest in selling property to the City. <br />The City Administrator reported the financing concepts <br />7 <br />