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