04-29-1996 EDA Packet - Laserfiche WebLink

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CONSIDERATION OF RESOLUTION NO. 96-04 ADOPTING A MODIFIED PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-7 Mr. Wessel explained that this resolution would expand TIF District 1-7 to include the G.M. property in the Apollo Business Park, as well as Glenn Rehbein's proposed Lake Business Park and the Hawkins Chemical site. EDA member Kuether moved to approve Resolution No. 96-04. EDA Member Bergeson seconded the motion. Motion passed with EDA Member Lyden abstaining. PUBLIC HEARING ON THE PROPOSED SALE OF PROPERTY IN THE APOLLO BUSINESS PARK TO PROGRESSIVE ENGINEERING TECHNOLOGY, INC. EDA Member Kuether moved to open the public hearing at 6:15 p.m. EDA Member Lyden seconded the motion. Motion passed unanimously. Mr. Wessel explained that Progressive Engineering was purchasing 2.3 acres of land in the business park for its precision engineering company. State statute requires a public hearing when the city is writing down the cost of the land. EDA President Lyden asked for comments. None were received. EDA Member Kuether moved to close the hearing at 6:17 p.m. EDA Member Neal seconded the motion. Motion passed unanimously. CONSIDERATION OF RESOLUTION NO. 96-05 AUTHORIZING THE SALE OF PROPERTY TO PROGRESSIVE ENGINEERING TECHNOLOGY, INC. Mr. Wessel explained that this resolution would finalize the process for selling land in the city - owned portion of the park. Ms. Kuether asked how many parcels were left. Mr. Wessel stated a 1-acre piece and a 7-acre piece remained unsold. EDA Member Bergeson moved to approve Resolution No. 96-05. EDA Member Lyden seconded the motion. Motion passed unanimously. CONSIDERATION OF CONTRACT FOR PRIVATE DEVELOPMENT BETWEEN LINO LAKES EDA AND PROGRESSIVE ENGINEERING Mr. Wessel explained that the development agreement had been drafted and both parties had copies, but it had not been signed. In order to keep on schedule it had been put on the agenda. However, Progressive Engineering would not be breaking ground until May, so Mr. Wessel requested this item be tabled until the next EDA meeting. ADJOURNMENT EDA Member Neal moved to adjourn. EDA Member Kuether seconded the motion. Motion passed unanimously. Meeting adjourned, 6:21 p.m.