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Planning&Zoning Board <br /> December 9, 1998 <br /> Page 8 <br /> Mr. Trehus asked about the City's investment. Ms. Divine stated the City owned the ` <br /> whole upper portion of the land. The land is now completely developed and we made a <br /> $400,000 profit. She stated the City does not own any of the land in the new TIF District <br /> 1-9. Mr. Powell stated the City's investment is on the utilities when there is a TIF <br /> District. The City pays for the cost of the installation and recoups its investment with <br /> TIF. <br /> Mr. Trehus asked if a Comprehensive Plan Amendment will be required. Ms. Divine <br /> stated an amendment will not be required. General use fits in with the proposed Plan. <br /> Mr. Dunn made a MOTION, and was supported by Mr. Robinson, to approve Resolution <br /> No. 98 - 01, finding the modification of TIF District No. 1-7 and the creation of TIF <br /> District 1-9 consistent with the City's Comprehensive Plan. The motion carried 7-0. <br /> VI. DISCUSSION ITEMS <br /> Mr. Robinson asked if the City has received many applications for the Planning&Zoning <br /> Board openings. Ms. Wyland stated the City has received a few additional applications. <br /> Everyone whose term is up was reminded to re-apply of so interested. <br /> VII. ADJOURNMENT <br /> Mr. Trehus made a MOTION to adjourn the meeting at 7:24 p.m., and was supported by <br /> Mr. Johnson. Motion carried 7-0. <br /> Respectfully Submitted, <br /> Kim Points,Recording Secretary <br /> TimeSaver Off Site Secretarial, Inc. <br /> x. <br /> i <br />