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1 <br />1 <br />1 <br />167 <br />COUNCIL MEETING SEPTEMBER 27, 1993 <br />business and driven out of their homes. Charter Commission <br />Secretary, Rolf Iverson was in the audience and said he <br />understood that this was an issue. Council Member Kuether felt <br />the above amendment should cover this issue. She noted that the <br />classification the residential property owners have now will be <br />the same when this amendment is put into place. <br />Council Member Kuether asked why the draft amendment refers to <br />430 acres? Mr. Wessel explained that the properties involved <br />will be described by legal description. The draft amendment <br />refers to the area that is involved. <br />Council Member Bergeson moved to adopt the proposed draft <br />amendment to Chapter 8 of the Lino Lakes City Charter and Exhibit <br />A. Council Member Elliott seconded the motion. <br />Council Member Kuether asked if the legal description will <br />replace Exhibit A and she was told yes. <br />Voting on the motion, motion carried unanimously. <br />CONSIDERATION OF A DEVELOPMENT AGREEMENT, ACCU-TOOL, INC., <br />RESOLUTION NO. 78 - 93, SUPPORT FOR THE ACCU-TOOL, INC. <br />IMPROVEMENT <br />Mr. Wessel explained that Accu -Tool, Inc., a Forest Lake based <br />manufacture of precision parts, has purchased the building <br />located south of Lilac Street and east of Fourth Avenue. The <br />Economic Development Authority Advisory Board (EDAAB) has been <br />working with the owner, Mr. Jungman to help him upgrade the <br />exterior of the existing building and the addition to concrete <br />block. The City has agreed to offer $70,000.00 in financial <br />assistance after an amendment to its Tax Increment Finance (TIF) <br />plan. Mr. Jungman has agreed to give the City $5,000.00 to <br />guarantee his commitment to the project. <br />Council Member Kuether asked for the explanation of the financial <br />assistance guarantee. Mr. Wessel explained that Mr. Jungman will <br />receive $65,000.00 in assistance and outlined Mr. Jungman's <br />costs. <br />Council Member Bergeson noted that in exchange for TIF <br />consideration, the City is asking for certain changes in the <br />improvements to the building. He asked if this should be <br />included in the motion for approval. Mr. Wessel said the, <br />development agreement should be referenced. <br />Council Member Kuether moved to approve Resolution No. 78 - 93 <br />Supporting the Accu -Tool, Inc. improvement subject to completion <br />PAGE 9 <br />