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Elk River City Council Minutes December 21. 1998 Page 2 3.9. 3.10. 3.11. 3.12. 3.13. BEER AND WINE LICENSE FOR YOUSSEF DARBAKI, TALLY HO RESTAURANT - APPROVED CONTINGENT UPON SUCCESSFUL BACKGROUND CHECK RESOLUTION 98-136 DECERTIFYING TAX INCREMENT FINANCING DISTRICT NO. 11 LYING WITHIN DEVELOPMENT DISTRICT NO. 1 IN THE CITY OF ELK RIVER - APPROVED A. FINAL PAY ESTIMATE TO REDSTONE CONSTRUCTION COMPANY, INC. IN THE AMOUNT OF $31,246.10 FOR WORK COMPLETED ON THE BOSTON STREET, RAILROAD DRIVE, GUARDIAN ANGELS, AND JACKSON/HOLT IMPROVEMENTS - APPROVED B. FINAL PAY ESTIMATE TO VEIT & COMPANY, INC. IN THE AMOUNT OF $54,100.02 FOR WORK COMPLETED ON THE LAKE ORONO SEDIMENT REMOVAL PROJECT - APPROVED C. FINAL PAY ESTIMATE TO BAUERLY BROTHERS IN THE AMOUNT OF $21,435.33 FOR WORK COMPLETED ON THE 1998 OVERLAY IMPROVEMENTS - APPROVED DEFERRAL OF SPECIAL ASSESSMENT FOR CLIFFORD IBIS - PARCEL 75-130-1110 FOR 1998 OVERLAY IMPROVEMENT PROJECT- APPROVED RELEASE OF $5,000 IN FUNDING FOR THE ELK RIVER AREA ARTS COUNCIL - APPROVED. COUNCILMEMBER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 4.1. Public Hearin.q to Consider a Bud.qet Modification - Tax Increment District No. 9 (Tescom) Director of Economic Development Paul Steinman indicated that a public hearing has been advertised and scheduled to be held at approximately 6 p.m. on Monday, December 21. He stated that the public hearing provides an opportunity for the public to comment on a proposed budget modification to Tax Increment Financing District No. 9. Paul Steinman explained that the modification will increase tax increment expenditures from TIF District No. 9 by a maximum of $90,000. He explained that the money will be used as follows: · Land Purchase $24,000 · Administration $ 6,000 · Public Improvements $60,000 Mayor Duitsman opened the public hearing. There being no one for or against the matter, Mayor Duitsman closed the public hearing. COUNCILMEMBER FARBER MOVED TO ADOPT RESOLUTION 98-137 MODIFYING THE BUDGET IN THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 9. COUNCILMEMBER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 5-0. 4.2. Consider Resolution 98 Decertifyin.q TIF District No. 9 Director of Economic Development Paul Steinman stated that TIF District No. 9 is being certified one year earlier than expected due to surplus tax increment revenues generated from the project within the district.