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Mounds View City Council June 12, 1989 , <br />Regular Meeting Page Four <br />Motion/Second: Wuori/Quick to approve the consent <br />agenda, as corrected, and waive the reading of the <br />resolutions. <br />4 ayes 0 nays Motion Carried <br />There were no residents requests or comments from 7. Residents <br />the floor. Requests and <br />Comments from <br />the Floor <br />Mayor. Hankner closed the regular meeting and opened <br />8. Public Hearing: <br />the next public hearing at 7:35 Pm. <br />Proposed Modi- <br />fication of <br />Clerk/Administrator Pauley reviewed the proposed <br />Dvlpt. District <br />modifications which related to the amendment to the <br />No. 2 and Proposed <br />plan adopted for tax increment financing for the <br />Modification of <br />Mounds View Business Park. Everest Development has <br />Tax Increment <br />requested tax increment financing for Mounds View <br />?inancing District <br />Business Park South. The City has not approved that, <br />No. 1 <br />and this amendment would allow the City to negotiate <br />that item and does not represent approval. Pursuant <br />tc State law, the amendment must be made by June 30. <br />Glenda Burrows, resident of the corner of O'Connell <br />Drive and Woodale, presented a petition to Mayor <br />v' <br />Hankner, signed by residents of the area who are <br />against the extension of Woodale and the wetland <br />alteration permit. <br />Mayor Hank.^.=-r accepted the petition and explained it <br />was appropriate for the next public hearing. She <br />stated there are already two other tax increment <br />financing projects in the Citv, Mounds View <br />Business Pars North and Sysco. The Council has <br />taken the stance that they will not go beyond 15 <br />years with tax increment financing on projects. <br />Bill Buckingha^., 3220 Greenfield, asked for an expla- <br />nation of tax increment financing. <br />Clerk/administrator Paulev explained what it is, <br />and stated that the theiry is that without it, <br />development would not occur, and it is a method of <br />competing with other areas for development, which <br />ultimately will bri.^.g increased tax dollars into the <br />City, as well as other taxing jurisdictions. <br />Mr. Buckingham stated he felt the City was giving <br />up revenue in =he short run, as well as the County � <br />and School District. <br />