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EDA MINUTES AUGUST 11, 2003 <br />DRAFT <br />•44 EDA Member Dahl asked for clarification that they are adding a district here and the next resolution <br />45 is eliminating one. Ms. Divine stated this is creating a TIF District, and the next is taking 2 parcels <br />46 that are in Tit' District 1 -9 and moving them to the new TIF District 1 -10. <br />47 <br />48 Motion carried. EDA President Carlson and EDA Member Dahl opposed. <br />49 <br />50 CONSIDERATION OF RESOLUTION 03 -05, MODIFYING TAX INCREMENT <br />51 FINANCING DISTRICT NO. 1 -9 TO ELIMINATE TWO PARCELS FROM THE DISTRICT <br />52 <br />53 Ms. Divine summarized her report, indicating Staff is recommending adoption of Resolution No. 03- <br />54 05 modifying Tax Increment Financing District No. 1 -9 to eliminate two parcels from the District. <br />55 <br />56 EDA Member Dahl moved to adopt Resolution No. 03 -05 modifying Tax Increment Financing <br />57 District No. 1 -9 to eliminate two parcels from the District. EDA Member Bergeson seconded the <br />58 motion. Motion carried unanimously. <br />59 <br />60 EDA Member Dahl indicated on the Tax Increment District update it says LLBC. She asked what <br />61 that was. Ms. Divine indicated it is the Lino Lakes Business Center. EDA Member Dahl asked if the <br />62 City owns that property. Ms. Divine stated they do not. Mr. Fogerty purchased that property from the <br />63 city. <br />64 <br />•65 ADJOURNMENT <br />66 <br />67 There being no further business, EDA Member O'Donnell moved to adjourn. EDA Member <br />68 Bergeson seconded the motion. Motion passed unanimously. <br />69 <br />70 Meeting adjourned at 6:21 p.m. <br />71 <br />72 <br />73 <br />74 <br />75 <br />76 <br />77 <br />78 Transcribed by: <br />79 Karen Whaley <br />80 TimeSaver Off Site Secretarial, Inc. <br />81 <br />• <br />2 <br />