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<br />Special City Council Meeting <br />December 21, 1995 <br /> <br />Page 6 <br /> <br />.... ........................ ---- -- ..........-- <br /> <br />e <br /> <br />Business park and industrial park activities - <br />Urban renewal and redevelopment activities - <br />Infrastructure Improvements - <br /> <br />Total <br /> <br />$ 50,000 <br />$ 75,000 <br />$ 50.000 <br />$175,000 <br /> <br />Mayor Duitsman opened the public hearing. There being no one for or against <br />the matter, Mayor Duitsman closed the public hearing. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO APPROVE THE MODIFICATION TO TAX <br />INCREMENT FINANCING PLAN NO.2 AS PRESENTED. COUNCILMEMBER DIETZ <br />SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br /> <br />4.5. Resolution Terminatina Tax Increment Financina District NO.2 <br /> <br />Assistant City Administrator Lori Johnson stated that the Council is requested to <br />adopt a resolution which authorizes the Guardian Angels Tax Increment <br />Financing District NO.2 to be decertified one year early. She indicated that the <br />request is due to higher than anticipated tax increment revenue which has <br />generated sufficient cash to payoff the bonds remaining on this project. <br /> <br />~;.- <br /> <br />COUNCILMEMBER DIETZ MOVED TO ADOPT RESOLUTION 95-93, A RESOLUTION <br />TERMINATING TAX INCREMENT FINANCING DISTRICT NO.2. COUNCILMEMBER <br />HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 4-0. <br /> <br />6. <br /> <br />Staff Updates <br /> <br />e <br /> <br />There were no staff updates. <br /> <br />7. <br /> <br />Adiournment <br /> <br />There being no further business, COUNCILMEMBER HOLMGREN MOVED TO <br />ADJOURN THE MEETING. COUNCILMEMBER DIETZ SECONDED THE MOTION. THE <br />MOTION CARRIED 4-0. <br /> <br />The special meeting of the Elk River City Council adjourned at 7:22 p.m. <br /> <br />Respectfully submitted, <br /> <br />/', !'l~' <br />~M.kC,t1A.- ., , ~ <br />'Sandra Thackeray 0 "- <br />City Clerk <br /> <br />e <br />