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AGENDA ITEM 4 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 3/25/96 <br />TOPIC: Resolution No. 96-04 adopting the modified Tax <br />Plan for TIF District No. 1-7 (Apollo Business Park) <br />Among the parcels removed in the modified plan that you just adopted s the <br />G.A. Development prBusiness Park. This property not <br />developed as quickly as the G.M. Development had hoped. They district <br />no longer has enough years left in capacity to support any subsidy to businesses <br />needing financial assistance to be able to relocate in the park. <br />This modified plan for TIF District No. 1-7 will add the G.M.periy to this <br />district. It was just established in 1995, and has nine years of capacity <br />remaining. Hawkins Chemical and Glenn Rehbein have also expressed intere <br />in developing their properties. They have been added to TIF District 1-7 as well, <br />along with all fight industlly zoned properties in the southwest quadrant of <br />1. Adopt Resolution No. 96-04 ally a modified plan <br />Financing District No. 1-7 <br />2. Retum to staff for further consideration <br />Option 1 <br />