11-13-1995 EDA Minutes - Laserfiche WebLink

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EDA member Kuether moved to approve the development contract with the contingency. EDA member Elliott seconded the motion. Motion passed unanimously. RESOLUTION ADOPTING MODIFIED TIF PLAN FOR TIF DISTRICT 1-7 Mr. Batty explained to the board that this modification of the plan was in response to the Fogerty Development/Custom Remodelers proposal for office/warehouse and leasable space in the city - owned portion of the Apollo Business Park. EDA member Elliott moved to adopt resolution No. 95-12. EDA member Bergeson seconded the motion. Motion passed unanimously. PUBLIC HEARING ON PROPOSED SALE OF PROPERTY IN APOLLO BUSINESS PARK EDA president Reinert opened the hearing at 6:20 p.m. Mr. Wessel explained that the purpose of the hearing was to receive comments regarding the sale of city -owned property to Fogerty Development/Custom Remodelers. No comments from the public were received. EDA member Kuether moved to close the hearing. EDA member Elliott seconded the motion. The hearing was closed at 6:21 p.m. RESOLUTION AUTHORIZING SALE OF PROPERTY TO FOGERTY DEVELOPMENT/CUSTOM REMODELERS Mr. Wessel explained that adoption of this resolution would complete the FDA's transaction for the sale of property to the developer. Closing of the property is scheduled for January. EDA member Elliott moved to adopt Resolution No. 95-13. EDA member Kuether seconded the motion. Motion passed unanimously. CONSIDERATION OF RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND TIF PLANS FOR TIF DISTRICTS NO. 1-1 AND 1-2 Mr. Wessel explained that this modification was to transfer funds within the district. The city constructed the West Central trunk project from accumulated service area funds, which serves as a source of funds for many of the city's largest sanitary sewer projects. In order to provide a continuing source of funds for similar projects, this modification will allow the EDA to reimburse the city's fund from accumulated tax increment in TIF Districts 1-1 and 1-2. EDA member Kuether moved to adopt Resolution No. 95-14 authorizing preparation of the modified program and plans. EDA member Bergeson seconded the motion. Motion passed unanimously. CONSIDERATION OF RESOLUTION NO. 95-15 AMENDING RESOLUTION NO. 95-11 AUTHORIZING THE EDA TO ENTER INTO A PURCHASE AGREEMENT WITH ANOKA COUNTY