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Mounds View Planning Commission May 19, 2004 Regular Meeting Page 3 ________________________________________________________________________ Chair Stevenson said he does not think an adequate study was done on how much contamination there may be at the site and he would like a contingency placed on the purchase to protect the City from a lot of costs for environmental issues. Commissioner Johnson asked whether the Commission felt it would be appropriate to amend the Comprehensive Plan. Chair Stevenson said that he would not be in favor of amending the Comprehensive Plan and would like to see the possible redevelopment scenarios for commercial development. Commissioner Johnson indicated that he would not be in favor of amending the Comprehensive Plan. He then commented that the last amendment barely passed and the City lost a large portion of commercial property. He further commented that rather than amending the Comprehensive Plan frequently a more comprehensive study should be done to determine whether there needs to be an overall amendment. Economic Development Coordinator Backman said he feels that redevelopment would be a good opportunity from the standpoint of the tax base. He then said that there are areas to the east of the location that could be added to this parcel to make it larger and more desirable to developers. The Commission indicated a willingness to move forward with the potential acquisition of the property but members are not interested in a rezoning of the property. Economic Development Coordinator Backman commented that it may be possible to get the property for less than $850,000, as the owners want to get out of the property. Commissioner Zwirn said he understands a good deal when he sees it and this is a good deal economically. One of the concerns he has is that this City is constantly talking about budget constraints and it concerns him that the City seems to be in a purchase mode during these tight budget times. Economic Development Coordinator Backman explained that the City would not be using general fund dollars but TIF dollars that are to be used specifically for economic development purposes. He then explained that if the City does not spend some significant funds on redevelopment over the next one to two years it runs the risk of losing TIF dollars. He further explained that TIF District One generates $1.5 million dollars in increment and the City is not allowed to sit on the funds and accumulate them, nor can they be used to offset issues with the general fund budget. The Commission asked that a contingency to ensure that there is no site contamination be added. MOTION/SECOND: Scotch/Johnson. To Approve Resolution 761-04, a Resolution Recommending Approval of the Acquisition of the Parcel Located at 2525 County Road 10.