03-08-1993 CC MIN - SPECIAL #2 - Laserfiche WebLink

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. . . MEETING OF THE ELK RIVER CITY COUNCIL HELD AT THE ELK RIVER CITY HALL MONDAY, MARCH 8, 1993 Members Present: Mayor Duitsman, Councilmembers Scheel, Farber, Dietz and Holmgren (8:57 p.m.) Members Absent: None Staff Present: Sandra Thackeray, City Clerk; Bill Rubin, Economic Development Coordinator; Stephen Rohlf, Building and Zoning Administrator 1. Call Meeting To Order Pursuant to due call and notice thereof, the meeting was called to order at 8:50 p.m. by Mayor Duitsman. 2. Consider 3/8/93 City Council Agenda The following was added to the agenda: 8.1. City Council Updates COUNCILMEMBER DIETZ MOVED TO APPROVE THE 3/8/93 CITY COUNCIL AGENDA AS AMENDED. COUNCILMEMBER FARBER SECONDED THE MOTION. THE MOTION CARRIED 4-0. 3. Public Hearing/Tax Increment Financing Plan Tax Increment District No. 9/Tescom Bill Rubin explained that the Economic Development Authority adopted a resolution approving the Tax Increment Financing Plan for District No. 9 located within Development District No.1. Bill Rubin indicated that TIF District No. 9 was recently approved by the Council in August, 1992, and the District was comprised of one parcel, Lot 8, Block 1, Elk River Industrial Park. He stated that because of uncertainties surrounding site preparation costs and wetland issues involved with Lot 8, an alternative site for TIF District No. 9 was explored. Bill explained that because the TIF Plan was never certified, the TIF Plan being presented this evening has been renamed TIF Plan No.9. Bill Rubin explained that Tescom is requesting Tax Increment Financing assistance in the amount of $194,000 to support an expansion of approximately 30,000 square feet. He stated that the TIF District will be comprised of Lots 1, 2, and 3, Block 2, Elk River Industrial Park Second Addition, however, Tescom is requesting to purchase only two of the lots. Therefore, Tescom's assistance will be reduced by the value of the lot not sold.