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<br />. <br /> <br />. <br /> <br />. <br /> <br />City Council Minutes <br />September 8, 1992 <br /> <br />Page 3 <br /> <br />that there would be no risk to the taxpayers and the money will be paid <br />back in sixteen yearly increments. <br /> <br />Councilmember Dietz questioned whether State Aid funds that may be lost <br />would be paid for by the developer. Bill Rubin indicated that the <br />Developer's Agreement stated that the developer would be responsible <br />for possible lost State Aid funds. <br /> <br />Councilmember Holmgren questioned whether there would be excess TIF <br />funds for this project and what they would be used for. Bill Rubin <br />stated that if there were excess funds collected, the District would be <br />retired early. <br /> <br />COUNCILMEMBER SCHULDT MOVED TO ADOPT RESOLUTION 92-86, A RESOLUTION FOR <br />THE CITY OF ELK RIVER RELATING TO THE ESTABLISHMENT OF TAX INCREMENT <br />FINANCING DISTRICT NO. 10 AND THE ADOPTION AND APPROVAL OF THE TAX <br />INCREMENT FINANCING PLAN RELATED THERETO LOCATED WITHIN DEVELOPMENT <br />DISTRICT NO.1. COUNCILMEMBER KROPUENSKE SECONDED THE MOTION. THE <br />MOTION CARRIED 5-0. <br /> <br />5.2. Consider Development Agreement By and Between the City of Elk River <br />and Elk Terrace Ltd. Partnership <br /> <br />COUNCILMEMBER DIETZ MOVED TO APPROVE AND EXECUTE THE CONTRACT FOR <br />PRIVATE DEVELOPMENT WITH ELK TERRACE LTD. PARTNERSHIP, THE CITY OF ELK <br />RIVER AND THE ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY. <br />COUNCILMEMBER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />5.3. City Hall Update Items <br /> <br />5.3a. Request Advertisement for Security System <br /> <br />The Council discussed the City Hall/Police Station <br />memorandum from Zack Johnson dated September 3, <br />Johnson reviewed the proposed security system plan. <br /> <br />security <br />1992. <br /> <br />plan <br />Zack <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO APPROVE THE ADVERTISEMENT <br />FOR THE SECURITY SYSTEM FOR THE CITY HALL/POLICE <br />COUNCILMEMBER KROPUENSKE SECONDED THE MOTION. THE MOTION <br />5-0. <br /> <br />FOR BIDS <br />STATION. <br />CARRIED <br /> <br />5.3b. Mechanical and Electrical Change Order <br /> <br />Zack Johnson stated that when the construction contract was <br />awarded, it was felt that the mechanical and electrical portions <br />of the bid were too high. He stated that he has worked with <br />mechanical and electrical contractors and has revised the design <br />of the system as he felt the mechanical and electrical portion of <br />the system was over designed. He stated he is recommending a <br />change order of -$53,900. <br /> <br />COUNCILMEMBER HOLMGREN MOVED TO APPROVE THE CHANGE ORDER FOR THE <br />MECHANICAL AND ELECTRICAL PORTION OF THE CITY HALL FOR A <br />