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Mounds View Planning Commission July 19, 2000 <br />Regular Meeting Page 10 <br /> <br />Economic Development Coordinator Parrish stated the preliminary financing package is a pay- <br />as-you-go TIF arrangement, as opposed to up front bonding, with a not-to-exceed amount of $2.5 <br />million. He stated those are the rough parameters that staff is working with. He explained that <br />with a pay-as-you-go arrangement, the money received depends on the project’s ability to <br />generate tax revenue. <br /> <br />Chairperson Peterson stated if the project has come to this point, it means the financing issues <br />are believed to be feasible. <br /> <br />Mr. Howell stated staff will provide a report at the August 4, 2000 meeting of the EDA with the <br />proposal finalized. <br /> <br />Bob Hajak, legal representative for the Mermaid, advised that John G. Kinnard has provided a <br />letter of agreement and a dialogue is occurring between them, the developer, and the City. He <br />advised that John G. Kinnard is anxious to close on the property. <br /> <br />Commissioner Miller inquired regarding the water park. <br /> <br />Mr. Hall stated the pool will be oversized and contain fountains, a larger seating area, and be <br />more than a pool in an effort to attract family business. <br /> <br />Commissioner Miller asked if it will be available only to the patrons of the hotel. <br /> <br />Mr. Hall stated he is unable to answer how the end use will be handled but noted they have <br />always been a strong supporter of the community and he believed there were possibilities in the <br />future. He clarified, however, that it would never be open to the public. <br /> <br />MOTION/SECOND: Johnson/Laube to approve the Resolution 626-00, a Resolution <br />Recommending City Council Approval of the General Concept Plan Regarding the Proposal to <br />Construct a Hotel and Banquet Center at the Mermaid, Located at 2200 Highway 10; Planning <br />Case No. ZC00-003. <br /> <br /> Ayes – 7 Nays - 0 Motion carried. <br /> <br />Planner Ericson stated the City Council will hear this proposal on August 7, 2000 and it will be <br />considered for action at their regular meeting of August 14, 2000. After that, he expects the <br />development plans will be submitted for Planning Commission consideration. <br /> <br />Mr. Hall thanked the Planning Commission for their consideration of this project. <br /> <br /> <br />8. Special Planning Case SP-079-00 <br /> <br />Consideration of Resolution 624-00, a Resolution Recommending Adoption of Proposed <br />Ordinance 664, an Ordinance Amending Chapter 1106 of the Mounds View Zoning Code <br />Pertaining to Permitted and Conditionally Permitted Accessory Buildings. <br /> <br />