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Mounds View Planning Commission August 3, 2005 Regular Meeting Page 10 ________________________________________________________________________ Commissioner Zwirn asked if it is an eminent domain situation. He stated although he does not support eminent domain, there are numerous owners unwilling to cooperate with the City; therefore, this warrants action with the City. He also asked about the unsureness of who is the owner. He asked why the problems couldn’t be corrected with the individual, i.e. take them to court, instead of buying the property. He stated he does not want someone to make a profit. He concluded the situation warrants more investigation and the property owner needs to be brought in to answer questions. Director Ericson replied the City does not support eminent domain and there is no need because the owner is willing to sell. If the City goes through the eminent domain process, it could likely cost more than a simple acquisition. With eminent domain, City’s pay Fair Market Value if not more. He noted the owner of record is known, adding that it costs money to take the owner to court. If the city can resell the property to a developer, likely the City could break even. He stated the intent is that over time the City is reimbursed by property taxes generated and currently it is not at the value it could be. MOTION/SECOND: Hegland/Meehlhause. To approve Resolution 808-05, a Resolution Recommending Approval of a Potential Acquisition of Residential Property Located at 2617 Sherwood Road for Consistency with the Comprehensive Plan. Ayes – 4 Nays – 2 (Zwirn, Hull) Motion carried. Commissioner Zwirn stated he is opposed based on arguments presented above. Commissioner Hull stated there is no numbers on what the City would be paying for the land. ______________________________________________________________________________ 9. Resolution 805-05 Finding that a Modification to the Project Plan For the Mounds View Economic Development Project and a Tax Increment Financing Plan for Tax Increment Financing District No. 5 Conform to the General Plans for the Development and Redevelopment of the City. Community Development Director Ericson reviewed the staff report indicating a resolution has been prepared for consideration of creation of TIF District #5 and the modification to the project plan for the Mounds View Economic Development Project. The proposed TIF District #5 would encompass six parcels of land, three of which would be removed from TIF District #3. Director Ericson requested the Planning Commission review and discuss the plans to create TIF District #5. He noted this district was created to support Medtronic. Commissioner Miller asked what the resolution would do. Director Ericson stated the resolution would satisfy the Minnesota Statutory requirement that the Planning Commission review the plan. Commissioner Hegland asked for more specifics on what was modified. He also asked who would be responsible for the dollars noted in the document. Director Ericson stated TIF District #5 was added to support Medtronic. He noted three parcels would be removed from TIF District