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3 <br />1-1 <br />MEMO TO: MAYOR AND CITY COUNCILw <br />FROM: CLEP.R-ADMINISTRATO <br />tw <br />DATE: OCTOBER 8, 1986 <br />SUBJECT: JLN TAX INCREMENT PROPOSAL AT 4807 MUSTANG <br />CIRCLE <br />Attached please find correspondence from Timothy J. Nelson, <br />of JLN Development, indicating their desire to enter into <br />discussions regarding a possible tax increment development <br />at 4807 Mustang Circle in the Mounds View Industrial Park <br />for a proposed office/warehouse/manufacturing facility. It <br />is Staff's sinderstanding that the proposal specifically <br />calls for the development of a building to be used by <br />Chandler -Wilbert Vault Company who will be displaced from <br />their existing Roseville facility as a result of a develop- <br />ment JLN is undertaking in that community. <br />The proposed development has been approved by the Mounds <br />View Planning Commission and was to have been considered by <br />the City Council at n Public Bearing, which was subsequently <br />tabled, due to financial difficulties with respect to the <br />project. It is our understanding that JLN proposes the tax <br />increment financing package in order to resolve those diffi- <br />culties and allow for the project to be undertaken thus, <br />further allowing their Roseville project to'be'completed. <br />Staff would request Council direction <br />desire to review this proposal and <br />consultation from Mr. Walt Hartman, of <br />the feasibility and viability of th <br />posal. <br />DFP/dmm <br />with respect to your <br />authorization to seek <br />Holmes & Graven as to <br />e aforementioned pro- <br />