2003-079 Council Resolution - Laserfiche WebLink

Home Search

AGENDA ITEM 7B STAFF ORIGINATOR: Mary Alice Divine DATE: 06/23/03 TOPIC: Resolution No. 03 -79 calling for a public hearing to Modify Development District No. 1 and establish TIF District No. 1 -10 BACKGROUND: The developers of the Lakes Business Park north of the Blue Heron Elementary School on 35W have proposed to plat the 30 -acre park into sites for Tight industrial users. In conjunction with the plat, the developers are working with a potential light industrial user that is proposing to construct a 265,000 sq. ft. facility on approximately 13 acres in the park. It is anticipated that development of the business park may justify some public expenditure . for infrastructure improvements to Lake Drive. In addition, the business park has not developed solely through private efforts and may require public participation to develop in a manner consistent with the city's goals for commercial and industrial development. The establishment of a new Tax Increment Financing (TIF) District that incorporates the business park is a part of the overall schedule that also includes an EAW, site plan reviews and a public improvements process. This resolution calls for a public hearing to be scheduled on August 11, 2003 allowing time for preparation of the plan for TIF District No. 1 -10. Once Springsted, Inc. prepares the TIF Plan, Anoka County and Centennial School District will be notified and will receive a copy of the draft plan for review, as required by Minnesota statute. The parcels that will be incorporated into the new TIF District will be removed from the existing TIF District No. 1 -9 that was established in 1998. RECOMMENDATION: Adopt Resolution No. 03 -79 calling for the public hearing.