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AGENDA ITEM 5 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 11/13/95 <br />TOPIC: Resolution #95-12 adopting the modified Tax Increment Financing <br />Plan for TIF District 1-7 (Apollo Business Park) <br />BACKGROUND: <br />The preparation of a modification of the Tax Increment Plan for TIF District 1-7 was <br />authorized by the EDA on September 11, 1995. This modification was due to the nature <br />and extend of public and private improvements to be constructed within TIF District 1-7 <br />in response to a development proposal for an office/warehouse and leasable space in the <br />privately owned portion of the Apollo Business Park. Copies were sent to Centennial <br />School District and Anoka County for review. This resolution states that the EDA finds <br />the objectives for encouraging development to be met with this modification of the plan. <br />OPTIONS: <br />1. Adopt resolution #95-12 for modification of the Tax Increment Plan for TIF <br />District No. 1-7. <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />