03-15-1982 CC MIN - Laserfiche WebLink

Home Browse Search

---, City Council Meeting Minutes March 15, 1982 Page 6 Mr. Haggerty indicated that the City Council could structure a program as equit- able as they might want for developers and builders. Mr. Lloyd Anderson, a devel- oper in the City of Elk River, indicated that he felt the issuance of industrial revenue bonds for financing in the Tamarack Subdivision was unfair and discrim- inatory. Mr. Anderson indicated that he felt the use of the credit.of the City of Elk River was to benefit only one developer and put all other developers at a disadvantage. Mr. Anderson further indicated that he felt all developers should have a fair share and that the 8 million dollar issue was .to help only one developer. Mr. Anderson indicated that homes in the Tamarack Subdivision would be cheaper because of lower interest rates and would therefore pose unfair competition to the other developers. Mr. Tom Noon asked how many developers were involved in the 30 million dollar project in Coon Rapids. Mr. Haggerty and Mr. Reyer explained that several areas of Coon Rapids were funded but that because of the resolution specifying Tamarack Subdivision adopted by the Elk River City Council on April 2, 1979, the industrial revenue bond financing can only be for that project in Elk River. Mr. Noon indicated that he was in opposition of the approval of the industrial revenue bond financing for the Tamarack Subdivision. Mr. John Pearce, a member of the Planning Commission, indicated that he felt all citizens pay on the federal level and it was a backward way of reducing interest rates for a specific project. Mr. Pearce indicated his opposition to the project. Mr. George Zabee, Superintendent of School District 11728, indicated that he felt the Tamarack Subdivision would have a positive influence for the schools and the community, as school space was availabe and when the schools are at full capacity they can operate more efficiently, which would therefore be a benefit to the community. Mr. Mel Beaudry indicated that at the present time there are many people out of work and that this development could provide jobs for people in the community. Mr. Beaudry indicated that he felt the City Council should make a decision on what is best for the entire community. Mr. Beaudry further indicated that the project would bring people to the community and therefore also promote industry in the community. Ms. Barb Olson expressed her op1n1on that the community should take the opportunity to provide financing for single family housing to help younger couples purchase homes. Mr. Ken Barthel indicated that he felt the bond issue and project were a community benefit rather than an individual benefit. Mr. Kuhn indicated his opposition to the industrial revenue financing for single family homes and futher indicated that at the present time, it si impossible for a small developer to sell lots even at a dollar down and five dollars a month. Mr. Kuhn further indicated that the Tamarack project would put every other de- veloper at a disadvantage and that it would also kill the second home market.