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• Page 9 <br /> 1 Mr. Strachota explained that the City's financial consultant, Springsted, Inc. designed <br /> 2 the TIF district to provide an incentive to the developer when the highest Plan is <br /> 3 achieved. He also assured Mr. Hanson that there is no bond. In response to Hanson's <br /> 4 query, Mr. Strachota said that once the developer hits $4 million, the City will receive <br /> 5 the overages. <br /> 6 Mr. Haik handed out to the Commissioners a copy of the St. Anthony HRA Limited <br /> 7 Revenue Taxable Tax Increment Note for their perusal and said he wanted it to,be <br /> 8 included in the record. <br /> 9 Chair Bergstrom gave a 10 minute recess of the meeting at 9:20 PM. <br /> 10 The meeting reconvened at 9:30 PM. <br /> 11 Chair Bergstrom reminded the Commissioners that they are to be considering rezoning <br /> 12 and the Preliminary and Final Plans and cannot make recommendations relating to TIF, <br /> 13 whereupon he closed the public hearing at 9:30 PM. <br /> 14 When Hatch inquired about the timetable of the Plan, Bergstrom said those issues will <br /> 15 be clarified in the PUD agreement. He noted that the Council referred to the Planning <br /> Commission uses and facility aesthetics. <br /> 17 Commissioner Stille commented that the site has sat in poor condition for a very long <br /> 18 time and he supports rezoning the property. He feels there are some issues that he <br /> 19 would like to see changed, but is comfortable with the Plan at this point. Bergstrom <br /> 20 commented that the City has an option to go forward or back to square one. <br /> 21 Commissioner Melsha agreed with Commissioner Stille. <br /> 22 Commissioner Thomas felt a better job could have been done concerning public input <br /> 23 and noted that all of the residents in the audience were against the project. He explained <br /> 24 that he feels the City should wait for the Met Council plan grant to study the northwest <br /> 25 quadrant of the City. He feels the City can accommodate Hillcrest. He is not <br /> 26 comfortable with the minimum standards but agrees that Hillcrest has economic <br /> 27 incentive to higher standards. <br /> 28 Commissioner Tillmann commented that flexibility is not a guaranty and that the City <br /> 29 must balance what we want with the realities of business. She feels this is a realistic <br /> 30 procedure. <br /> 31 Motion by Bergstrom, second by Stille, to recommend approval to the City Council of <br /> the Preliminary and Final Plans that include a rezoning from a Commercial to a <br />