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RESOLUTION NO. 97-02 AUTHORIZING PREPARATION OF A MODIFIED TAX <br />INCREMENT FINANCING PLAN FOR TIF DISTRICT 1-7 <br />Mr. Wessel explained to the Authority that the city has a request for TIF assistance from <br />Fogerty Investments to build on two parcels on city -owned property in the Apollo <br />Business Park. EDA Member Neal moved to approve Resolution No. 97-02. EDA <br />Member Bergeson seconded the motion. Motion passed unanimously. <br />RESOLUTION NO. 97-03 SETTING A DATE FOR A PUBLIC HEARING FOR THE <br />SALE OF PROPERTY TO FOGERTY INVESTMENTS <br />Mr. Wessel explained that a public hearing was required when the city proposed to sell <br />city property in the Apollo Business Park. The resolution calls for a hearing to be <br />scheduled on March 24, 1997 at 6 p.m. EDA Member Kuether moved to approve <br />Resolution No. 97-03. EDA Member Neal seconded the motion. Motion passed <br />unanimously. <br />Mr. Neal asked about the length of leases in the Apollo Business Park. Ms. Divine stated <br />they are generally 3-5 years. Mr. Neal asked about offering TIF assistance for commercial <br />property in the Clearwater Creek Development Center. Mr. Wessel explained that <br />commercial businesses do not qualify for TIF. <br />ADJOURNMENT <br />EDA Member Kuether moved to adjourn. EDA Member Neal seconded the motion. <br />Motion passed unanimously. Meeting adjourned at 6:16 p.m. <br />