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Elk River city Council Meeting December 20, 1993 Page 2 --------------------- e and retail business. Mr. Bulow further stated that in addition to carpeting, the Carpet One store would sell wallcoverings, window treatments, bathroom fixtures, vinyl and ceramic tile, and wood flooring. Mr. Bulow noted the following items of interest with regard to Carpet One's history: - There are 450 stores in the nation with 317 shareholders; Annual sales of $1,002,000,000; Largest carpet retailer in the U.S., generating 9% of total carpet sales; $50 million in annual sales in Minnesota Launched a national advertising campaign with a television campaign soon to follow. Mr. Bulow stated that he felt the proposed store would draw 150 to 200 new people to the downtown area. Regarding the parking issue, Mr. Bulow stated that this business would probably require only 5 to 6 parking spaces at anyone given time, but additional parking would be created in the lower level. He further stated that the Kjellberg's would be tripling their sales force and doubling the number of installers he has in Elk River. Mr. Bulow explained that he felt the downtown was becoming a service oriented business district and that his proposal was exactly that. e Bill Rubin financials operations. commented that are strong, and the applicant's that his two personal stores are and business both growing Councilmember Holmgren reviewed the history of this request. He stated that the project makes sense to him. He further stated that the City has $112,000 invested in the site and that it was time to move forward. Mayor Duitsman stated that he has received comments from retailers that the TIF Plan gives Mr. Bulow an unfair competitive advantage. He further stated that he felt this project would not meet the Council's goal to help revitalize the downtown business district, and, therefore, he was not willing to vote in favor of the proposal. Councilmember Scheel expressed her feeling that the proposed project would fit in with the downtown boutique-type atmosphere. She stated that she is aware there are parking questions that need to be addressed, but that the Council cannot wait for the ideal project to come along and that she is in favor of the proposal. Bill Rubin stated that he felt the development of the site in question is an important component of the City's ongoing efforts to reintrench the downtown business area. e COUNCILMEMBER HOLMGREN MOVED TO APPROVE THE TAX INCREMENT FINANCING PLAN FOR TIF DISTRICT NO. 12 (EDA MAIN STREET REDEVELOPMENT SITE). COUNCILMEMBER SCHEEL SECONDED THE MOTION. THE MOTION FAILED 2-3. Mayor Duitsman and councilmembers Dietz and Farber opposed.