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<br /> MINUTES <br /> <br /> CITY COUNCIL <br /> <br /> AUGUST 25, 2010 <br /> AND TABLING ACTION ON THIS APPLICATION UNTIL THE <br /> SEPTEMBER 8, 2010 REGULAR CITY COUNCIL MEETING TO <br /> ALLOW THE CITYAND PREWIRE SPECIALISTS TO WORK OUT <br /> THE DETAILS OFA DEVELOPMENT AGREEMENT AS WELL AS <br /> TO ALLOW THE CITY ENGINEER TIME TO REVIEW DRAINAGE <br /> ISSUES RELATIVE TO THE SITE AND THE CITY PLANNER TO <br /> CONDUCT ANARCH7TECTURAL REVIEW OF THE PROPOSAL <br /> The foregoing resolution was duly seconded by Montour. <br /> Ayes (5). <br /> Nays (0). Resolution declared adopted. <br /> ADOPT Blesener opened the Public Bearing to consider the adoption of a spending <br /> TIF N0.3-2 plan for Tax Increment Financing District No. 3-2. <br /> SPENDING <br /> PLAN - 'I'hc City Administrator reported that recent statutory changes allow cities <br /> BOB WAGNER to spend existing Tax Increment monies for the purpose of promoting <br /> economic development and will result the creation of jobs and investment <br /> in the community. 'T'he City Administrator reported that the goal of the <br /> spending plan proposed is to assist Bob Wagner with the build out of his <br /> Country Drive building (the former Knox building) for both existing <br /> tenants and to build out space for a new tenant, Neato Scan. The loan <br /> would he approximately $200,000 plus issuance costs. The Administrator <br /> reported that Mr. Wagner has submitted business documents that require <br /> some additional analysis at this point. The Administrator anticipated that <br /> the loan documents would be ready for Council action at its next meeting. <br /> The matter before the Council this evening is action on the Spending Plan <br /> for "fIF District No. 3-2. <br /> 'T'here was no one present from the general public wishing to comment on <br /> this matter. <br /> Upon motion by Keis, seconded by Montour, the public hearing was <br /> closed. <br /> Mr. Montour iuh•oduced the following resolution and moved its adoption: <br /> RESOL UTION NO. 2010-8-195 -ADOPTING THE SPENDING PLAN <br /> FOR TAX INCREMENT FINANCING DISTRICT NO. 3-2 AS <br /> RECOMMENDED BY THE CITYADMIN7STRATOR <br /> 'T'he foregoing resolution was duly seconded by Boss. <br /> Ayes (5). <br /> Nays (0). Resolution declared adopted. <br /> 16 <br /> <br />