06-12-1995 EDA Minutes - Laserfiche WebLink

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BUSINESS PARK TO BLUE HERON LTD. Mr. Wessel explained that under the modification of the plan for TIF District 1-4, a public hearing is required when the EDA is writing down the cost of the land for a proposed project. The EDA is currently negotiating with Blue Heron Ltd. whereby the EDA will purchase the property from the property owner, G.M. Development. G.M. Development has raised the price to $97,408. The $35,000 in TIF commitment towards the land write down will not change. Therefore Blue Heron Ltd. will pay $ 62, 408. EDA President Reinert opened the public hearing at 6:11 p.m. After asking for and receiving no comments, EDA member Elliott moved to close the hearing. The motion was seconded by EDA Member Neal. Motion passed unanimously. CONSIDERATION OF RESOLUTION #95-06 AUTHOR/ZING SALE OF PROPERTY TO BLUE HERON LTD. Mr. Batty pointed out that because of the change in the price of the land to Blue Heron Ltd., the amount the EDA will pay to G.M. Development and the amount Blue Heron will pay to the EDA should be changed in the resolution. EDA Member Elliott moved to approve Resolution #95-06 authorizing the sale of property to Blue Heron with the changes reflected. EDA member Neal seconded the motion. Motion passed unanimously. SET ECONOMIC DEVELOPMENT A UTHORI TY MEETING FOR THURSDA Y, JUNE 29, 1995AT5P.M. Mr. Wessel explained that the EDA had authorized the plan for TIF District 3-1. Anoka County and Centennial and White Bear Lake School Districts have been sent copies of the plan for review, and the county had signed off on it. A City Council will be scheduling a public hearing on Thursday, June 29 at 5:15 p.m. The purpose of this EDA meeting is to approve the plan. EDA Member Elliott moved to set the EDA meeting for 5 p.m. on Thursday, June 29. EDA Member Neal seconded the motion. Motion passed unanimously. ADJOURNMENT EDA Member Elliott moved to adjourn. EDA Member Neal seconded the motion. Meeting adjourned 6:20 p.m.