12-27-1989 Council Agenda - Laserfiche WebLink

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MINUTES PLANNING COMMISSION DECEMBER 14, 1989 property not being addressed at this time can be combined into large enough pieces that can be developed commercially. The Planner agreed that if there was a single lot left at either end of the site, that could cause problems. Rudy disagreed with the comments of the Planner. Costa asked if it was economically feasible to redevelop a one -acre site zoned commercial that has an existing home on it. The Planner replied that typically such a development was not feasible, however, this is the reason that Tax Increment Financing is being used so that the redevelopment of these existing homes is economically feasible. Herkenhoff asked how TIF can assist in the redevelopment of the residential homes. The City Planner explained that the increment generated on the first buildings will be used to assist in writing down the acquisition costs of the property with the residential homes. Herkenhoff stated that if TIF was not used for this project, the City would receive more tax dollars. The City Planner pointed out that State Law requires a performa on a development which proves that if Tax Increment Financing is not provided, the project is unfeasible. Rudy was concerned about the effect that the development will have on his property taxes, pointing out that his property may not be redeveloped for 3 to 5 years. The City Planner stated that it was his guess that Rudy's property taxes would not be effected unless the County increases the property value of the land. Noreen described the 31,000 square foot office /showroom building proposed for the southwest corner of Country Drive and Nadeau Road. All access to the site would be via Country Drive. Noreen pointed out that when the building to the south is developed, there would be a shared access for trucks between the two buildings. Page 5