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1 <br />1 <br />1 <br />COUNCIL MEETING MARCH 22, 1993 <br />said nothing would happen. The resolution presented tonight only <br />approves a financing plan for TIF No. 1-5. The property will not <br />be "tainted". "Tainted" relates only to economic development <br />districts and not housing districts. <br />Mr. Batty also explained that adoption of this particular TIF <br />plan does not commit the City Council to the development and does <br />not imply approval of a particular development plan. The next <br />step is the drafting of a development agreement. City Council <br />adoption of a development agreement will commit the City Council <br />to whatever is contained in the development agreement. <br />There was no one in the audience to speak on this matter. <br />Council Member Bergeson moved to close the public hearing at 8:03 <br />P.M. Council Member Neal seconded the motion. Motion carried <br />unanimously. <br />Council Member Neal moved to accept Mr. Schumacher's <br />recommendation that the TIF District No. 1-5 be adopted by the <br />Economic Development Authority with the stipulation that the TIF <br />District not be certified with the County until financing has <br />been secured for the senior project. During that time period a <br />developer's agreement must be executed along with the <br />establishment of an adequate escrow account. Council Member <br />Elliott seconded the motion. Council Member Neal noted that he <br />has made an application to rent a unit in the development and <br />asked if voting on this matter would constitute a conflict of <br />interest. Council Member Neal withdrew his motion and Council <br />Member Elliott withdrew her second. <br />Council Member Elliott moved to accept Mr. Schumacher's <br />recommendation that Resolution No. 15 - 93 adopting the TIF <br />District No. 1-5 be adopted by the Economic Development Authority <br />with the stipulation that the TIF District not be certified with <br />Anoka County until financing has been secured for the senior <br />project. During that time period a developer's agreement must be <br />executed along with the establishment of an adequate escrow <br />account. Council Member Bergeson seconded the motion. Motion <br />carried with Council Member Neal abstaining. <br />Resolution No. 15 - 93 can be found at the end of these minutes. <br />PLANNING AND ZONING REPORT <br />Minor Subdivision, Pheasant Hills Preserve - This matter was <br />discussed earlier during this meeting and action was delayed <br />until Mr. Vaughan was updated on the matter by the City Engineer. <br />Mr. Vaughan had entered the Council chambers and noted that he <br />PAGE 9 <br />95 <br />