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Elk River City Council Minutes July 10, 2000 Page 4 CRITERIA FOR TAX INCREMENT FINANCING DISTRICT NO. 21. COUNCILMEMBER MOTION SECONDED THE MOTION. THE MOTION CARRIED 5-0. 6.1b. Gary Santwire Proposal Executive Director Cathy Mehelich indicated that the EDA has received a proposal from Gary Santwire, Rivers Crossing, Inc. for the development of the EDA site located at Joplin Street. Cathy noted that the city purchased the 4.36-acre site from Country Ridge, Inc. in December 1997, with the use of excess TIF funds from TIF District No. 5 in the amount of $198,750. She stated that following the transaction, the property was transferred to the Economic Development Authority. Cathy explained that because the city used excess TIF for purchasing the property, any sale proceeds would have to be returned to the county for distribution. She noted that the current fair market value of the property is estimated at $218,500. Cathy Meheiich reviewed the development proposal submitted by Gary Santwire. She explained that the development proposal requests the EDA to subdivide the lot into two lots with the north lot being sold for $1 to Equity Management and the south lot being sold for $1 to Dave and Carol Riplinger (Track of the Wolf, Inc.) Councilmember Motin expressed his concerns about maximizing the usage of the site and that the south part of the property had been earmarked for a possible fire station and questioned whether the city has a good plan for an alternative location. Fire Chief Bruce West indicated that there are alternative sites for a second fire station. Mayor Klinzing indicated she had the same concern as Councilmember Motin and felt it was important for the city to identify a site for the second fire station. 6,2. Consider Resolution Approvin.q the Issuance and Sale of Multi-Housin.q Revenue Bonds Finance Director Lori Johnson indicated that the council recently approved a resolution providing for the issuance and sale of bonds to provide $3,600,000 for several apartment projects in the city. She indicated that a final resolution is needed to complete the bond issuance for these projects. COUNCILMEMBER FARBER MOVED TO ADOPT RESOLUTION 00-54 APPROVING THE ISSUANCE AND SALE OF MULTI-HOUSING REVENUE BONDS 1'O PROVIDE FUNDS FOR A MULTI-FAMILY HOUSING PROJECT ON BEHALF OF WEST SUBURBAN HOUSING PARTNERS II LIMITED PARTNERSHIP. COUNCILMEMBER DIETZ SECONDED THE MOTION. THE MOTION CARRIED 5-0. 6.3. Discuss Fire Relief Association Benefit Request and 2000 City Contribution Rob Dreissig, president of the Elk River Fire Relief Association, indicated that the Association is requesting an increase in the per year benefit from $3,370 to $3,575 per year of service.