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• <br />PLANNING & ZONING BOARD <br />JUNE 14, 1995 <br />indicated there are nominal administrative costs from the <br />County and the cost of counsel. <br />Planning Consultant Brixius indicated up to 10% of the <br />project can be recovered by the City to cover <br />administrative fees, etc. <br />Mr. Brixius indicated TIF is one of the only tools <br />available to the City in assisting new business who come <br />to Lino Lakes. <br />Mr. Johnson commented that the City still has choices as <br />to how generous they would want to be in any given <br />project. He noted as recommended in the 20/20 Vision <br />statement, the City should be as conservative as possible <br />with TIF. <br />Mr. Mesich inquired if TIF was used in the previous item <br />on the agenda. Ms. LaForest indicated yes, TIF was used <br />in the Mag -Con Inc. project. <br />Ms. LaForest indicated the City has been very <br />conservative in regards to TIF. There was some <br />discussion regarding the dollar figures. Ms. LaForest <br />indicated the pay off date would be within 3 -4 years of <br />the increment. <br />Mr. Brixius indicated he could attest to the conservative <br />approach as compared to the rest of the State. He <br />indicated the revenue received will exceed the TIF and <br />will help subsequent projects. <br />Ms. LaForest indicated Lino Lake is competing with other <br />communities for these businesses and this gives an <br />incentive for the businesses to locate in the City. <br />Bill Johnson made a MOTION to adopt a Resolution <br />regarding the establishment of Economic Development <br />District No. 3 and was supported by Guy Herr. All voted <br />aye. Motion carried. <br />Ms. Wyland requested item V.D. be addressed at this time. <br />D. 95 -16 -S, Marshan Condominiums, Lake Drive /Aqua Lane., <br />Site Plan Review. <br />Planning Consultant Brixius briefly reviewed the staff <br />report regarding the request for Site Plan Review. He <br />indicated in previous consideration, The Planning and <br />Zoning Board chose to table the Marshan Lake Townhome <br />request pending the submission of an ultimate development <br />plan for the property. <br />• Mr. Brixius indicated a revised development plan has been <br />submitted by the applicant for review. He indicated the <br />6 <br />