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03/25/1996 Council Packet
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03/25/1996 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
03/25/1996
Council Meeting Type
Regular
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AGENDA ITEM 6 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 3/26/96 <br />TOPIC: Public Hearing, Modification of Tax Increment Financing Plan for Tax <br />Increment Financing District No. 1-4 <br />this evening the EDA adopted the modification of this plan to rem ve <br />un mprovedDistrict parcels from TIF No. 1-4. These parcels include the ar+ <br />zoned shopping enter on I - 35W interchange, the G.M. vel r�er t <br />property' in the ►llo Business Park (except for Emtech and. Blue Heron <br />Development), a piece of land near the senior housing project owned by St. <br />Joseph's Church, and the 49/23 intersection. Anoka Courcy, and Centennial and <br />Forest Lake School Districts have been notified regarding the modification. <br />several of these parcels are being removed either because <br />gilt develop within the reasonably foreseeable future, or they <br />iEdifying uses under state statutes. Once this modification is <br />Developmrt property, which is zoned for light industrial, <br />newer TIF District No. 1-7 This will provide the city with <br />:o offer financial assistance to businesses <br />
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