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DATE: <br />TIME: <br />MEMBERS <br />PRESENT: <br />MEMBERS <br />ABSENT: <br />OTHER <br />PRESENT: <br />CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT AUTHORITY <br />MINUTES <br />June 12, 1995 <br />6:05 p.m. <br />A. Neal, V.Reinert, L. Elliott, J. Bergeson <br />S. Kuether <br />Brian Wessel, Community Development Director <br />Ron Batty, Bond Consultant <br />Mary LaForest, Economic Development Assistant <br />CONSIDERATION OF MINUTES <br />EDA Member Elliott moved to approve the minutes from the June 7, 1995 EDA <br />meeting. EDA Member Bergeson seconded the motion. Minutes were approved <br />unanimously. <br />CONSIDERATION OF RESOLUTION #95-07 ADOPTING MODIFIED TAX INCREMENT <br />FINANCING PLAN FOR TIF DISTRICT NO. 1-4 <br />Mr. Wessel explained to the EDA that this modification of the district was in response <br />to a development proposal for a leasable office/warehouse facility in the privately <br />owned portion of the Apollo Business Park. Copies of the modified plan were sent to <br />the Centennial School District and Anoka County. The resolution the EDA is <br />considering states that the EDA finds the objectives for encouraging development to <br />be met with this modification of the plan. <br />Mr. Batty added that EDA action is to amend the budget for the district. By adopting <br />the plan, this does not commit the EDA to anything. The development agreement, <br />which will be considered June 29, will be the EDA's commitment to the project. <br />EDA Member Elliott moved to adopt the modified Tax Increment Financing Plan for TIF <br />District No. 1-4. EDA Member Neal seconded the motion. Motion passed unanimously. <br />PUBLIC HEARING ON THE PROPOSED SALE OF PROPERTY IN THE APOLLO <br />