Laserfiche WebLink
MINUTES OF THE SPECIAL MEETING <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />AUGUST 29, 2011 <br />Pursuant to due call and notice thereof a regular meeting of the City <br />Council of Little Canada, Minnesota was convened on the 29th day of <br />August, 2011 in the Council Chambers of the City Center located at 515 <br />Little Canada Road in said City. <br />Mayor Bill Blesener called the meeting to order at 5:00 p.m. and the <br />following members of the City Council were present at roll call: <br />CITY COUNCIL: Mayor Mr. Bill Blesener <br />Council Member Mr. John Keis <br />Council Member Mr. Rick Montour <br />ABSENT: <br />ALSO PRESENT: <br />Council Member <br />Council Member <br />City Administrator <br />Finance Director <br />City Engineer <br />City Clerk <br />Ms. Shelly Boss <br />Mr. Mike McGraw <br />Mr. Joel R. Hanson <br />Ms. Shelly Rueckert <br />Mr. Lee Elfering <br />Ms. Kathy Glanzer <br />PUBLIC Mayor Blesener opened the public hearing to consider adoption of a <br />HEARING — Revised Spending Plan fro Tax Increment Financing District No. 3 -2 <br />REVISED as it relates to the Graba Properties Loan Agreement. <br />SPENDING <br />PLAN — The City Administrator reviewed in detail the revised spending plan <br />TIF NO. 3-2 for TIF District No. 3 -2 which involves the City's loan to Graba <br />GRABA Properties for the build -out of their property on Country Drive. He <br />PROPERTIES noted that the original spending plan was for a loan of $210,939.48. To <br />date, the City has advanced $108,439.48 with a balance remaining to be <br />advanced of $102,500. The Administrator reported that there are <br />additional build -out costs and MCES SAC fees for this property as well as <br />costs related to amending loan documents, such as legal, publication, and <br />closing costs. Therefore, the request before the Council is to amend the <br />spending plan for up to an additional loan amount of $51,204.00 bringing <br />the total loan to $262,143.48. <br />Bob Wagner, Graba Properties, expressed concern about an additional <br />$17,840 for MCES SAC fees, noting that they have already paid $56,000 <br />in SAC fees. Wagner indicated his intention to fight this fee. Blesener <br />pointed out that that is an issue Wagner would have to take up with the <br />