Laserfiche WebLink
MINUTES <br />PLANNING COMMISSION <br />April 5, 1990 <br />analysis between the amount of taxes the Howe proposal <br />would generate and the amount of taxes the EMC proposal <br />would generate needs to be completed. The difference <br />in the taxes between the two projects can be used as a <br />basis for determining the amount of TIF that could be <br />offered to EMC, and then it could be determined if the <br />project will cash flow with that amount of assistance <br />provided. The Administrator pointed out that the <br />problem is the timing to get the project in place <br />before the end of the Legislative session. <br />The Administrator reported that the City will not <br />advocate that TIF assistance be provided in an <br />imprudent manner, but will advocate its responsible <br />use. <br />Costa again pointed out that the Centerville Road area <br />is a less desirable site, therefore, he would be <br />willing to support TIF for development of the <br />Centerville Road area. Costa did not feel the Little <br />Canada taxpayers should provide a subsidy for the <br />City's prime piece of property. <br />Esterbrooks pointed out that there will be high <br />development costs for the Greiman property given the <br />grading that will be necessary. <br />The City Administrator pointed out the proposed <br />resolution before the Commission for action as prepared <br />by the City's bond counsel. The Administrator again <br />pointed out the suggestion for TIF assistance in an <br />amount equal to the difference in the amount of taxes <br />the Howe proposal would generate and the amount the EMC <br />proposal would generate. The Administrator felt it <br />would be appropriate for the Commission to comment on <br />not only the appropriateness of the use of TIF in this <br />project but also the amount of TIF assistance to be <br />provided. <br />The Planner pointed out that the Commission would be <br />reviewing building plans through the rezoning and PUD <br />process. <br />Pedersen asked the Council's feeling on the EMC <br />proposal. <br />The Administrator reported that Council concensus was <br />that the EMC proposal was a better use of the site than <br />the residential proposal previously submitted. The <br />Council also advocated the process proceeding in a <br />timely fashion. <br />Page 15 <br />