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AGENDA ITEM 5 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 10/13/97 <br />TOPIC: Resolution No. 97-13 adopting the modified Tax <br />Increment Financing Plan for TIF District No. 1-7, <br />Apollo Business Park <br />BACKGROUND: <br />The EDA authorized preparation of the modified plan for TIF District 1-7 on <br />August 25, 1997. This modification was in response to a development proposal <br />by Rice Industries to construct a 10,000 square foot office/manufacturing facility <br />in Apollo Business Park. Copies of the plan were sent to Anoka County and <br />White Bear Lake and Forest Lake School Districts. This resolution states that <br />the EDA finds the objectives for encouraging development are met with the <br />modification of this plan. <br />OPTIONS: <br />1. Adopt Resolution No. 97-13 for the modification of the Tax Increment <br />Financing Plan for TIF District No. 1-7 <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />