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1 REGULAR COUNCIL MEETING <br /> 2 AUGUST 25, 1992 <br /> PAGE 10 <br /> 5 <br /> 6 of a tax increment district was made verbally to a former City <br /> 7 Manager. He noted a letter from the legal counsel representing <br /> 8 the St . Anthony Shopping Center management was received today. <br /> 9 Copies of the letter were distributed to the Council . The City <br /> 10 Manager quoted the letter which stated objections to the <br /> 11 proposed plans . <br /> 12 <br /> 13 Mr. Johnson observed that Apache Plaza Mall was not included <br /> 14 in the structural evaluation prepared by Uteig Engineering. He <br /> 15 feels it should have been. He also understands the requirement <br /> 16 that ninety percent of the funds from the tax increment be <br /> 17 used to correct substandard conditions. He feels some of this <br /> 18 money is being used for other purposes. It is his opinion that <br /> 19 the CUB store should locate in the New Market building. <br /> 20 <br /> 21 It is Mr. Johnson ' s opinion that a great deal is being risked <br /> 22 in view of the fact that only seventy-five cents more per <br /> 23 square foot will be realized in taxes with this project and <br /> 24 there is a risk that CUB may not flourish nor attract other <br /> 25 businesses . The City Manager did not agree on the amount of <br /> 26 additional taxes expected. <br /> 27 <br /> Mayor Ranallo recalled that in -1978 , when the Kenzington and. <br /> Autumn Woods were being considered for a tax increment <br /> 30 financing district , the shopping center management was <br /> 31 approached to be included. The response at that time from the <br /> 32 owners and the merchants was they chose not to be included. <br /> 33 <br /> 34 Mr. Johnson acknowledged this but noted that if tax increment <br /> 35 funding had been available in 1989 there would have been more <br /> 36 done at the shopping center. <br /> 37 <br /> 38 The City Manager again stated that when the request was made <br /> 39 in 1987 t,o - establish a tax increment district it was made <br /> 40 verbally and no formal plans were presented to the City <br /> 41 Manager. It was felt at that time there would not be enough <br /> 42 tax increment generated to qualify. <br /> 43 <br /> 44 Councilmember Marks recalled that he was one of the two <br /> 45 councilmembers who served on the task force in 1978 to review <br /> 46 the possibility of establishing a tax increment district . He <br /> 47 noted that members of the task force were disappointed and <br /> 48 frustrated by the lack of input from the business people in <br /> 49 the St . Anthony Shopping Center. <br /> 50 <br />