10-10-07 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL OCTOBER 10, 2007 Blesener asked about the action adopting a Modified Business Subsidy Policy. The City Administrator indicated that while a Business Subsidy will not be used for this project, the proposed action merely updates the City's current policy to meet State requirements. The City Administrator reviewed in detail the locations of the two scattered sites comprising TIF District No. 5-l, which include both the St. Jude Medical property as well as the bakery property and four mobilehome sites along County Road B-2 as well as area along the newly aligned Viking Drive which includes McDonalds and the remaining Oasis and remnant parcels. The Administrator noted that no increment will be collected from the redeveloped McDonalds site as the building permit has already been issued for this property. The Administrator again noted that there will be no direct TIF subsidy to the Phase I St. Jude expansion. St. Jude has reserved the right to request some subsidy for the Phase II project. There was no one present from the general public wishing to comment on this matter. Upon motion by Allan, seconded by Montour, the public hearing was closed. Mr. McGraw introduced the following resolution and moved its adoption: RESOL UTION NO.2007-10-250 - ADOPTING A MODIFIED POLICYAND CRITERIA FOR GRANTING BUSINESS SUBSIDIES The foregoing resolution was duly seconded by Montour. Ayes (5). Nays (0). Resolution declared adopted. Mr. Montour introduced the following resolution and moved its adoption: RESOLUTION NO.2007-10-251-ESTABLISHING DEVELOPMENT DISTRICT NO. SAND TAX INCREMENT FINANCING DISTRICT NO. 5-1 THEREIN; AND ADOPTING A DEVELOPMENT PROGRAMAND TAX INCREMENT FINANCING PLAN THEREFOR The foregoing resolution was duly seconded by McGraw. Ayes (5). Nays (0). Resolution declared adopted.