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Mounds View City Council June 12. 1989 Regular Meeting Page Four -------------------------------------------------------------------------- Motion/Second: Wuori/Quick to approve the consent agenda, as corrected, and waive the reading of the resolutions. 4 ayes 0 nays There were no residents requests or comments fromi the floor . Mayor Hankner closed the regular meeting and opened the next public hearing at 7:35 PM. Clerk/Administrator Pauiey reviewed the proposed modifications which related to the amendment to the plan adopted for tax increment financing for the Mounds View Business Park. Everest Development has requested tax increment financing for Mounds View Business Park South. The City has not approved that, and this amendment would allow the City to negotiate that item and does not represent approval. Pursuant to State. law, the amendment must be made by June 30. • Glenda Burrows, resident of the corner of O'Connell Drive and Woodale, presented a petition to Mayor Hankner, signed by residents of the area who are against the extension of Woodale and the wetland alteration permit. Mayor Hankner accepted the petition and explained it was appropriate for the next public hearing. She stated there are already two other tax increment financing projects in the City, Mounds View Business Park North and Sysco. The Council has taken the stance that they will not go beyond 15 years with tax increment financing on projects. Bill Buckingham, 5220 Greenfield, asked for an expla- nation of tax increment financing. Clerk/Adminis rator Pauley explained what it is, and stated that the theory is that without it, development would not occur, and it is a method of competing with other areas for development, which ultimately will bring increased tax dollars into the City, as well as other taxing jurisdictions. Motion Carried 7. Residents Requests and Comments from the F loor 8. Public Hearing: Proposed Modi- f ication of Dvlpt. District No. 2 and Proposes Modification of Tax Increment Financing District No. 1 Mr. Buckingham stated he felt the City was giving up revenue in the short run, as well as the County and School District.