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Housing and Redevelopment Authority Meeting Minutes • November 28, 2000 Page 2 1 City Manager Michael Momson.noted that he.had requested a report from Ehlers & e Walgreen's proposal for Tax Increment.Financing assistance: In 2 Associates regarding th 3 this respect,Morrison introduced Mark Ruff with Ehlers & Associates. 4 Mr. Ruff noted that Ehlers & Associates has completed a review of the request from 5 TOLD Development Company for assistance with the development of the Walgreens 6 store at the northwest comer of Silver Lake Road and 37th Avenue. TOLD has 7 represented that assistance is necessary due to extraordinary development cost including 8 demolition, environmental cleanup and geotechnical corrections. These expenses are 9 considered qualified redevelopment expenses. 10 Mr. Ruff reviewed for the Council the details of the TIF financing as per his memo of 11 November 17, 2000. 12 Cavanaugh inquired about the next step for the City. Mornson noted that a developer's 13 agreement would be drafted and the Council would approve the agreement at a January 14 2001 meeting. • 15 It was determined that a public hearing would not be held in connection with this matter 16 because this is not considered a business subsidy. 17 Morrison asked Mr. Ruff to discuss the issue of decertifying the Apache Plaza parcels. 18 Ehlers has prepared an analysis and in this respect, Mr. Ruff presented details of the tax 19 increment income from that area. It is recommended to decertify certain parcels from the 20 District. 21 Cavanaugh thanked Mr. Ruff for his presentation and input. 22 C. H.R.A. Resolution DO-01 3 re: Termination of TIF District Containing Village 23 Townhomes (Hennepin County). 24 Motion by Horst to approve H.R.A. Resolution 00-013, a Resolution Relating to 25 Amendment to Old Highway Eight Tax Increment Financing District(Hennepin County 26 No. 1952); approving the Termination of Tax Increment Financing District and 27 Decertification of Original Net Tax Capacity Thereof. Motion carried unanimously. 28 29 B. H.R.A. Resolution 00-014 re: Termination of TIF District Containing Evergreen • 30 Townhomes (Ramsey County). 31 Motion by Horst to approve Resolution 00-014, a Resolution Relating to Amendment to 32 Tax Increment financing District No. 2-Ramsey County (Ramsey County No. 7C);