05-25-1982 HR MIN SPECIAL - Laserfiche WebLink

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-2- The discussion of the proposal included the p p u th following considerations . 1 . Project viability - in terms of location , absorption , impact of other proposed developments , access , intersection control , etc . 2 . Legislative intent relative to TIF - i . e . the legislature did not intend that TIF be used for public buildings and made that intention law effective July 1 , 1982 . 3 . June 30 , 1982 deadline for certification of a TIF district - limits the time to consider the proposal , arrive at a redeveloper ' s agreement , secure a site for a new City Hall, etc . 4 . City Council decisions required - new City Hall and relocation of the street maintenance department require significant long-term decisions which are difficult in any case , but more so in light of the time constraint of June 30 , 1982 . 5 . New City Hall site - potentially involves the possibility of condemnation proceedings . 6 . Impact on other downtown redevelopment projects - i . e . the HRA plan places priority on central business district sites and this project would tend to pre-empt other possibilities downtown . • 7 . Chairman Schumacher presented rough calculations suggesting that the available TIF reveneues would finance approximately $100, 000 for site acquisition and construction of a new City Hall . The developer suggested the amount would be between $300 , 000 and $400 ,000 , but did not present specific calculations . The HRA Commissioners also raised the issue of the developer ' s experience and financial capacity, but did not pursue the subject . Elk River Redevelopments , Inc . requested designation as the tentative developer and authorization to proceed with a TIF plan . No action was taken on the request . The HRA Commissioners agreed to continue the meeting to Thursday , June 10, 1982 with the developer ' s understanding that preliminary numbers would be prepared on the basis that TIF would be used for the present City Hall site only , i . e . foregoing the possibility of using TIF directly to finance a new City Hall . Proceeds from possible sale of the site to the developer would then be available to finance a new City Hall . Downtown Redevelopment Plan On March 8 , 1982 the HRA adopted the Downtown Redevelopment Plan 411 in draft form for presentation to the City Council and public hearing . The City Council held the public hearing and formally adopted the plan on April 5 , 1982 .