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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 />• <br />• <br />