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<br /> 2 <br /> <br />Mr. Grochala reviewed the additional improvements that are happening concurrently with <br />the development. <br /> <br />Mr. Kohler asked how much tax revenue will be lost when the commercial area redevelops. <br />Staff estimated the existing taxes payable total approximately $15,000. The City <br />anticipating development will double the minimum value. <br /> <br />Mr. Schueller made a MOTION to approve the Lyngblomsten Tax Increment Financing <br />Request. Motion carried 4-0. Abstained by Mr. Wagner. <br /> <br />B. Projects Updates <br /> <br />Minnesota Technology Corridor launched a week ago and an article was published in the <br />Star Tribune. <br /> <br />Love To Grow On had their soft opening on July 1, 2019. <br /> <br />All Seasons Rental is under construction. <br /> <br />Watermark will have pavement down by the third week in July. The second phase was <br />recently submitted. <br /> <br />Natures Refuge final plat has been submitted. <br /> <br />Main Street Shoppes 2nd Addition is under construction. <br /> <br />Eastside Villas is a development with 35 villas going in east of NorthPointe. <br /> <br />Conversations regarding the interchange at County Road J and Centerville Road are on <br />going. <br /> <br />ADJOURNMENT <br /> <br />The meeting was adjourned at 8:57 A.M. <br />