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Planning Commission Meeting Minutes February 21, 2006 Page 3 1 IX. OTHER BUSINESS 2 3 9.1 Modifications of Redevelopment Project Area No. 3 the Chandler Place Tax Increment 4 Financing District and Tax Increment Financing District No. 3-5 Overview. 5 6 Ms. Moore-Sykes explained that this is a review of the proposed modifications of 7 Redevelopment Project Area No. 3, the Chandler Place Tax Increment Financing District and 8 Tax Increment Financing District No. 3-5. She stated that the City has several areas of 9 redevelopment that were originally organized as Tax Increment Financing (TIF) Districts in the 10 mid-1980's and over time, as allowed by State Legislation, these TIF Districts have been 11 modified in order to be utilized in the financing of various redevelopment projects throughout the 12 City. She stated that on November 12, 1996 the City's Housing and Redevelopment Authority 13 approved amendments to the Redevelopment Plans, Financing Plans and Redevelopment 14 Projects designated as the Master Modification, which authorized tax increment revenue from 15 any of the Districts to be utilized to remove, prevent and reduce blight, blighting factors and the 16 causes of blight in any areas subject to the Redevelopment Plans. She stated that the Districts 17 have been modified to comply with the new and changing tax increment laws noting that the 18 modification is being amended to include several areas of the City. She provided the 19 Commission with a brief overview of the conditions used to identify compliance requirements 20 noting that some projects, such as the Silver Lake Road Reconstruction project could be 21 included. She stated that a packet was sent to the library that includes information on the TIF 22 District Modifications and is available for public review. She indicated that a public hearing is 23 scheduled next month with City Council. She explained that this amendment basically pulls in 24 and includes some of the areas that are not currently in a District. She further explained that 25 these areas would then be able to utilize TIF funds for eligible projects. 26 27 Commissioner Jensen clarified that the areas currently eligible for TIF funds is being expanded 28 and asked what the net surplus would be. 29 30 Ms. Moore-Sykes stated that this is a question for the Finance Consultant adding that she would 31 research and update the Commission. 32 33 Motion by Commissioner Jensen, second by Commissioner Young, to recommend approval of 34 the expansion of the TIF District Boundaries. 35 Motion carried unanimously 36 37 9.2 Planning Commission Representative to the Comp Plan Task Force 38 Ms. Moore-Sykes stated that every ten years the City of St. Anthony is required by Minnesota 39 Statue to update the City's Comprehensive Land Use Plan. She explained that the Metropolitan 40 Council takes the lead on this for the State and the City is required to submit an updated plan by 41 September 2008. She stated that it would be good to get an early start on the process noting that 42 the update would have to be submitted to other jurisdictions, such as the County Board and 43 School Board, for their review and comments. She stated that because it has been almost 10 44 years since the last update the City Council has decided to invite the community stakeholders, 45 interested residents, the Planning Commission and City Council to participate in a task force.