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LAKE ELMO CITY COUNCIL MINUTES SEPTEMBER 15, 1987 PAGE 9 come in and have his own financing or work a larger deal than an individual property owner can do. Overby is suggesting that there might be other options than what was stated. Councilman Graves did not feel the Council was in a position to respond intelligently to this request within 30 days. He would like the Council to direct the City Staff to look into different options that may exist with the impact of these types of financing alternatives are for us. Councilwoman Armstrong did not think that the large landowners in Section 32 represent alot of people that live in Section 32. Most of the people are on small lots and do not need a sewer and are not looking at it as a financial investment. One of Oakdale's proudest moments was opening the Zycad building and that has become a failure. She does not think that the tax increment financing is the answer to all their problems. The City is on a budget of $600,000 a year and not prepared to utilize Section 32 at our initiative. We have to depend on the people who owned that land to come and do that. Marge Williams explained that the Planning Commission has discussed Section 32 many times. In order for Oakdale to allow this great amount of development they had to increase their infra -structure and this has driven up their tax dramatically. This is one of the major complaints of the citizens of Oakdale is to pay higher taxes in order for the developer to develop. A developer who spoke at a planning conference said "there are three things that draw developers -- money, money and money". All you have to do is buy some land and build a better mousetrap. One of those mousetraps are townhouses. Woodbury, Oakdale, and the east metro area have a 30-40% vacancy in townhouses. Councilman Johnson supported the plan to help the property owners in developing this property because it has been said all along that there is to be a commercial development area within the MUSA Line. He could not accept the financial burden that is being offered here, but feels it is important enough to look for means of trying to accomplish this. Johnson suggested a volunteer citizen advisory committee consisting of a couple of people from each area, and some planning commission members to work with the staff to not only get facts but to get some public opinion city wide to give the Council more guidelines. An article will be in the newsletter asking for interested people to contact the City Administrator. M/S/P Graves/Moe - to set up an advisory committee comprised of members representing a cross-section of the Lake Elmo Community (planning commission members, homeowners, business people) and in cooperation with the City staff, to look into different alternatives or approaches the City might take to assist the property owners and report back to the City Council at the end of 1987. (Motion carried 5-0) .