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iPtk nOnnl pr-D <br /> F % Lr`J ii <br /> Page 8 <br /> April 28, 1997 <br /> Mounds View City Council <br /> 1 MOTION/SECOND: Trude/Quick to approve the Introduction of Ordinance 600,to Consider Amending the <br /> 2 Assessment Policy. <br /> 3 <br /> 4 ROLL CALL VOTE: <br /> 5 <br /> 6 Mayor McCarty aye <br /> 7 Council member Stigney aye <br /> 8 Council member Quick aye <br /> 9 Council member Koopmeiners aye <br /> 10 Council member Trude aye <br /> 11 <br /> 12 Motion Carried(5-0) <br /> 13 <br /> 14 Continuation of Public Hearing and Consideration of Resolution No.5114,Regarding Modifications of <br /> 15 the Development Plan for the Mounds View Economic Development Project and a Tax Increment <br /> 16 Financing Plan for Tax Increment District No.4. <br /> 17 <br /> 18 Mayor McCarty opened the Public Hearing at 9:25 p.m. <br /> 19 <br /> 20 Mr. Whiting noted that this was a continuation of the Public Hearing held on April 14, 1997 regarding the Bel <br /> 21 Rae TIF District No.4. He introduced Dave Maroney of Community Partners,Inc.who was present to • <br /> 22 review the plan with the Council. He went through the five exhibits in the TIF plan. He noted that there is <br /> 23 nothing in the document that restricts the term of the district if it is created. This is a proposed redevelopment <br /> 24 district and the duration cannot exceed 25 years. <br /> 25 <br /> 26 Attorney Long noted that Resolution No. 5114 approves the TIF plan for District No.4. <br /> 27 <br /> 28 Mayor McCarty closed the Public Hearing at 9:45 p.m. <br /> 29 <br /> 30 MOTION/SECOND: Trude/Koopmeiners to Approve Resolution No. 5114,Approving Modification of the <br /> 31 Project Plan for the Mounds View Economic Development Project and Approving the Tax Increment <br /> 32 Financing Plan for Tax Increment Financing District No.4. <br /> 33 <br /> 34 VOTE: 5 ayes 0 nays Motion Carried <br /> 35 <br /> 36 COUNCIL BUSINESS: <br /> 37 <br /> 38 E. Consideration of Resolution No.5111,Supporting Subsidized Housing Units in Mounds View as <br /> 39 part of the Proposed Silver Lake Commons Development. <br /> 40 <br /> 41 F. Consideration of Resolution No.5112 Supporting the Ramsey County's Allocation of Home Funds <br /> 42 to MSP Real Estate for the Significant Rehabilitation of 40 Apartment Units located at 2665 Highway <br /> 43 10. <br /> 44 <br /> 45 Ms.Bennett,EDA Director,briefly reviewed the proposed Silver Lake Commons project. She noted that <br /> 46 Resolution 5111 would support the setting aside of subsidized housing units through the Holman Decree for <br /> 47 the proposed Silver Lake Commons. Under this funding,three units would be set aide for existing Mounds <br /> 48 View residents who receive rent subsidies. The remaining seven units would be made available to applicants <br />