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Mounds View City Council <br />Regular Meeting <br />Mayor Hankner further explained the tax increment <br />financing process. <br />Ms. Weisman asked if the Council really believed <br />Everest would not go ahead with the project without <br />tax increment financi <br />their (ng, pointing out how successful <br />been. •founds View Business Park North project has <br />Mayor Hankner explained that statistics have identified <br />tax increment financing as helping to attract Fortune <br />500 companies, which they feel is lmportant�,;. unstable <br />Clerk/Administrator Pauley identified the Fortune 500 <br />companies that have located within the City recently <br />and those who are expected to come in. <br />Bill Frits, 8072 Long Lake Road. asked for further <br />clarification of the tax increment financing concept, <br />as far as what portion goes to the City, County and <br />School District, and what is done after the 'loans are <br />paid off. <br />Clerk/Administrator _ . . <br />explained year can either be <br />the taxing bodies. put into debt retirement rorugoctooh <br />Mayor Hankner closed the public hearing and reopened <br />the regular meeting at 7:59 p>f. <br />)Iayor Hankner closed the regular meeting and opened <br />the next public hearing at 7:59 FDI. <br />Tim Nelson, of Everest Develoment, reviewed the <br />site plan for proposed Mounds. View Business Park <br />South. It is a 17+ acre site, and he explained <br />its location wit ir; tie Citv. The plan is for three <br />light industrial buildings, and he reviewed their <br />type of construction, the parking, landscaping and <br />traffic flow. Tie buildings wi.11 consist of g <br />235,000 s.f. total. The!, propose to connect with <br />existing tioodale give on the south side of Highway <br />10, and they will also have access to the <br />County Road H. south to <br />Mr. Nelson reviewed the proposal for improvements <br />to the wetland area, which is School District pro- <br />perty. He explained <br />tlnue th <br />e° own e School District will con - <br />This it. He also reviewed the drainage plan. <br />has already been approved by the Rice Creek <br />oatershed District, and will be presented to the <br />School Board later this month, for their approval of <br />the wetland area proposal. The wetland area is <br />approximately i1 acres in size and plans are to <br />,eJt=ng island and a trail system. <br />June 12, 1989 <br />Page Five <br />companies. <br />9. Public Hearing: <br />Request for <br />Everest Develop- <br />ment for Concept <br />Plan and Develop- <br />ment Stage Plan <br />Aprroval and Wet- <br />land alteration <br />Permit for Alounds <br />View Business <br />Park South, <br />Planning Case <br />No. i99-86 <br />