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AGENDA ITEM 3 <br />STAFF ORIGINATOR Brian Wessel, Community Development Director <br />DATE September 11, 1995 <br />TOPIC Consideration of Resolution 95-10 authorizing preparation <br />of a modification of Tax Increment Financing District 1-7, <br />Apollo Business Park <br />BACKGROUND <br />Wisconsin Magneto is purchasing 4 acres of land in the city -owned portion of the <br />Apollo Business Park to construct a 40,000 square foot warehousing and office <br />facility. The modification to the Tax Increment Financing Plan for TIF District 1-7 will <br />provide assistance to Wisconsin Magneto. Once the EDA authorizes preparation of the <br />plan the city council can set a date for a public hearing. <br />OPTIONS <br />1. Adopt the resolution authorizing preparation of a modified tax increment finjancing <br />plan for TIF District No. 1-7. <br />2. Return to staff for further consideration. <br />RECOMMENDATION <br />Option 1 <br />