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AGENDA ITEM 3 <br />STAFF ORIGINATOR Brian Wessel <br />DATE <br />TOPIC <br />June 12, 1995 <br />Public Hearing on the proposed sale of property in the Apollo <br />Business Park to Blue Heron Ltd. <br />The Economic Development Authority has authorized the preparation of Tax increment <br />Financing District No. 1-4 to provide financial assistance to Blue Heron Ltd. to build <br />a leasable office/warehouse facility in the privately owned portion of the Apollo <br />Business Park. A public hearing is required when the EDA is writing down the cost of <br />the land for a proposed project. The EDA is currently negotiating with Blue Heron Ltd. <br />whereby the EDA will purchase property from the property owner, G.M. Development, <br />for $78,408 and resell it to Blue Heron for $43,408. This hearing is to allow public <br />comment on the sale of the property. <br />1. Open the public hearing <br />2. Continue the public hearing <br />Option 1 <br />