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1 <br />1 <br />1 <br />COUNCIL MEETING <br />January 26, 1987 <br />promote housing and to increase employment. The Planning <br />and Zoning Board has reviewed this plan and it is consistant <br />with the Comprehensive Land Use Plan. <br />The proposal consists of capturing the tax increment off <br />of Rice Lake Estates. This means the tax generated by the <br />Rice Estates Area before the improvement and development <br />was about $20,000.00. Once the 100 new homes and possibly <br />the commercial development is completed, the tax base will <br />be considerably more than it is now. The City will capture <br />100% of this new tax base. <br />To promote economic development in the tax increment district, <br />sewer and water utility services will be extended up through <br />the Lino Industrial Park, Correctional Facility and the quad- <br />rant where Mr. Schumacher is presently working with Roger <br />Jensen to promote the development of a shopping center. <br />He noted that because of the City Charter, there has been <br />a problem of extending utility services in the past in this <br />area. TIF will allow landowners who do not want to pay assess- <br />ments to hook up at a later date and the tax increment will <br />pick up their portion. Later when the landowner wishes to <br />hook up, he will pay his assessment plus an index charge. <br />Presently, Mr. Schumacher is working with five or six different <br />land owners who want to develop their property and need services <br />to their property and are willing to pay their fair share <br />of assessments. <br />Mr. Bisel was concerned that this project will involve a <br />great deal of the Administrator's time and take away from <br />his present duties. Mr. Schumacher said it would be difficult <br />to tell just how much time would be involved and he has the <br />Assistant City Administrator helping him. Mr. Marier was <br />concerned about such a large portion of the City being involved <br />in the district. Mr. Schumacher explained this provided <br />a good planning area and includes two major intersections <br />in Lino Lakes. Mr. Marier suggested limiting this area and <br />at a later date establishing a district in the area of 35E <br />and Main Street. Mr. Schumacher explained the Council could <br />set districts wherever they felt it feasible. <br />There was no one in the audience to speak on this matter. <br />Mr. Bisel moved to close the public hearing at 8:42 PM. <br />Mr. Bohjanen seconded the motion. Motion carried unanimously. <br />101 <br />