Laserfiche WebLink
CITY COUNCIL WORK SESSION MAY 23, 2001 <br />Mr. Shannon advised the details will be part of the development agreement and business <br />subsidy agreement. He noted that the dollars generated from one parcel can be utilized <br />anywhere within the City. <br />Council Member Carlson asked if the City has a say in what types of businesses are <br />eligible for abatement. <br />Mr. Shannon advised the City can establish whatever it wants in the policy that can <br />include the types of businesses will be eligible. <br />Mayor Bergeson asked if there is no obligation to use the dollars similar to tax increment. <br />Mr. Shannon advised there is absolutely no obligation to use the dollars. <br />Finance Director Rolek advised there is a limited amount of mone t can be generated <br />per year, unlike tax increment. <br />Mr. Shannon advised if the County agrees to abate taxes <br />on projects within the City. The County can, howeve <br />want to participate in. He also explained the benefjt of <br />with the tax abatement. <br />s have to be spent <br />on what projects they <br />district being involved <br />Mayor Bergeson suggested a special Counciwork sion be scheduled to meet the <br />timeline of the project. <br />Finance Director Rolek advised t i ; . con Monday night is for the Council to <br />authorize staff to being the tax . ent icy process and business subsidy agreement. <br />Council Member Carlson <br />concern about giving <br />the City. She stated <br />regarding what might h <br />rate. <br />D • needs to review the policy. She expressed <br />abate to a business when that type of business is already in <br />unfair competition. She also expressed concern <br />pe in the special session of the legislature regarding one tax <br />Mr. Shannon advised the special session may or may not have a significant impact on <br />what the City will be able to do. <br />Mayor Bergeson suggested staff member's names be put on each item listed on the <br />process for the abatement policy. <br />Mr. Bill McHale, Executive Vice President of Ryan Companies, came forward and stated <br />they do have interested parties for the other parcels. Ryan is taking all the risk on this <br />project and there are additional costs associated with the project. He indicated the City <br />should perceive this project as beneficial to the City. <br />3 <br />