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AGENDA ITENM 5 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 2110/97 <br />TOPIC: Resolution No. 97-02 authori D b <br />Increment Finnancino Plan for TIF Distr 1-7` fd <br />The city has a request for tax increment fin cing assistance from Fogerty <br />Investments to build on two pieces of property in tt llo Business Park. <br />Fogerty Investments built a 32,000 square foot bullring in 1996. Half of the <br />building is owner occupied and half has been teased as Wm/warehouse <br />facilities. Fogerty Investments is now interested in developing the Last two <br />remaining pieces of land within the business park for a combination of owner <br />occupied and lea space. <br />This resolution authorizes preparation of the modification of this plan. Once the <br />plan is prbpared it will be sent to School District #12 and Anoka County for <br />review. Liter tonight the City Council will be srsked to set a date for a public <br />hearing. <br />P <br />1. Adopt Resolution No. 97-01'authorizing pre <br />increment financing plan for TIF District No. 1-7 <br />2. Returr to staff for further consideration. <br />r of a modified tax <br />