03/12/2001 Council Minutes - Laserfiche WebLink

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• • • COUNCIL MINUTES MARCH 12, 2001 subsidy in the form of Tax Increment Financing to Summit Fire Protection for the construction of a 30,000 square foot facility in the Apollo Business Center. State statue requires that a public entity — in this case the EDA — must find that the granting of a subsidy meets the best interests of the City, and a business subsidy agreement needs to be approved by both the EDA and the City Council. This subsidy is to be used to write down a potion of the cost of land and assessments on the project according to the terms of a development agreement. The subsidy agreement specifies the commitment the company is making regarding wages and jobs, plus the annual reporting that is required. Council Member Reinert inquired about how the amount of the TIF was derived. Economic Development Assistant Divine advised there is a number of criteria and a specific scoring method to qualify for TIF. The method used determined the TIF amount to be 14% of the estimated market value. Council Member Reinert asked if another business with the same criteria would receive the same amount of TIF. Economic Development Assistant Divine advised ano ess with the same criteria would receive the same amount of TIF if the value of the b ' i e same. Council Member Reinert moved to approve the business sub contingent upon approval of site and building plan and seconded the motion. Motion carried unanimousl t Fire Protection, on. Council Member Dahl Resolution Nos. 01— 37 and 01— 38, A • . g ' ubdivision and Site and Building Plan Review for Summit Fire Protection quired), Cindy Sherman of NAC — Ms. Sherman advised the applicant, R • `x; p - s, • n behalf of Summit Fire Protection, is requesting minor subdivision and site plto al ow the construction of a 30,076 square foot office/warehouse facility o pe located in the 200 block of Apollo Road. The site plan also illustrates a 22,800 sq fo • + ture expansion and parking for this expansion. Should the applicant wish to construct this the future, they will need to receive separate approvals. Summit Fire Protection s started in 1999. According to the company's biographic information, they design, manufacture, install, and service fire suppression systems. The company has approximately 80 employees with facilities in Savage, Roseville, Rochester, and Fargo, ND. This facility will consolidate their Savage and Roseville operations. Ms. Sherman presented the analysis of the minor subdivision and site and building plan review. Ms. Sherman advised the Environmental Board reviewed the project on January 31, 2001 and on February 28, 2001. She referred to a copy of their comments and recommendation. The Planning and Zoning Board reviewed this application at their February 13, 2001, meeting and they recommend approval of the minor subdivision and site plan to allow the construction of a 30,076 square foot office/warehouse facility. This recommendation is based on the findings contained in the report and conditions of approval. 5