03/25/1996 Council Minutes (2) - Laserfiche WebLink

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CITY COUNCIL MARCH 25,1996 Increment Financing (TIF) District No. 1-4. These parcels include the area zoned shopping center on the 135W interchange, the G.M. Development property in the Apollo Business Park (except for Emtech and Blue Heron Development:, a piece of land near the senior housing project owned by St. Joseph's Church, and the Highway #49/Lake Drive intersection. Anoka County, and the Centennial and Forest Lake School Districts have been notified regarding the modification. Several of the parcels that are being removed either because it is unlikely they will develop within the reasonably foreseeable future, or they are zoned for nonqualifying uses under state statutes. Once this modification is completed, the G. M. Development property, which is zoned for light industrial, will be combined with the newer TIF District No. 1-7. This will provide the City with enough capacity to offer financial assistance to businesses wishing to locate in this district. Mr. Wessel used the overhead projector to show TIF District No. 1-7. After TIF District 1-4 is deleted, the plan is to extend TIF District No. 1-7 which was developed last year and includes the City owned portion of the Apollo Business Park, to include the G. M. Development land that has not been developed and has not been in a TIF district. Two parcels, the Blue Heron, which is under construction and EMTEC which was completed three years ago, would be exempted from this district. Mr. Wessel explained that in addition to the G. M. Development lands, he is recommending that the light industrial lands south of I35W, owned by Glenn Rehbein, be added to the district so that in the future the City can provide incentives for light industrial companies to move into the area. Land owned by Hawkins Chemical on the north side of I35W would also be included in the district. Although the Hawkins Chemical land is zoned General Business, the EDA would like to have the option of developing that property for Light Industrial purposes. The land owners involved with all of the requested changes have been contacted and agree with this proposal. Mayor Landers opened the public hearing at 7:08 P.M.. There was no one in the audience to speak on this agenda item. Council Member Kuether moved to close the public hearing at 7:09 P.M. Council Member Bergeson seconded the motion. Motion carried with Council Member Lyden voting no. Consideration of Resolution No. 96 - 32 Approving the Modification of Tax Increment Financing Plan for Tax Increment Financing District No. 1-4 - Mr. Wessel explained that this resolution recognizes that much of the land within TIF District No. 1-4 is not likely to develop within the reasonably foreseeable future, and modifies the TIF Plan to delete most of the remaining land from the District with the exceptions noted above. PAGE 5