07-10-1989 EDA MIN - Laserfiche WebLink

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Page 3 Economic Dev10pment Authority Minutes July 10, 1989 . declaration by the City or threat of condemnation would eliminate a windfall profits tax on the current holders of the property allowing them to have more money for construction. Mr. Kropuenske stated that he felt the City should weigh all the advantages of using the condemnation procedure on the property. Counci1member Dobe1 asked if there had been any inquiries as to the availability of the property with the economic development office. Mr. Furs man indicated that there have been inquiries as to the availability of rental space in the building that was to be constructed, but no specific inquiries into the entire site as it is. Commissioner Dobe1 stated that from what we remember that corner to be, the City seems incomplete and we need something else there pledging; 110% support behind getting something started. COMMISSIONER KROPUENSKE MOVED TO DIRECT THE ECONOMIC DEVELOPMENT COORDINATOR TO PROCEED TO SECURE A PROFESSIONAL APPRAI SAL ON THE PROPERTY OF 665 AND 661 MAIN STREET TO OBTAIN A DOLLAR VALUE OF THE PROPERTY. COMMISSIONER DOBEL SECONDED THE MOTION. THE MOTION CARRIED 5-0. COMMISSIONER SCHULDT MOVED THAT STAFF BEGIN A MARKETING PROGRAM FOR THE JENNE PROPERTY. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 5-0. . COMMISSIONER KROPUENSKE MOVED TO SCHEDULE ANOTHER ECONOMIC DEVELOPMENT AUTHORITY MEETING FOR 6:30 ON MONDAY, JULY 17, 1989. COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 5-0. 5. Mork Clinic Mr. Fursman stated that the Mork Clinic has fallen behind schedule. The City had expected the site to have been cleared at this time, but they have run into administrative snags in the development of their plans. Mr. Fursman suggested that Mork be asked for the $5,000 Tax Increment Financing plan deposit so the City can begin writting the Tax Increment Financing plan for the redevelopment area rather than waiting for Mork to get building plans into the City. There was ensuing discussion on the point of how expansive the Tax Increment Finaning Redevelopment District should be. Commissioner Holmgren indicated that he felt the idea of creating the entire block as a redevelopment district merited some investigation. Mr. Fursman indicated that the TIF law would require that the City begin using money generated from the Redevelopment District within four years. Mr. Fursman indicated that the block could be protected from other development without creating a Redevelopment District over the entire block and that it might be better to hold off and create Redevelopment Districts as the project occur so maximum dollars could be generated. The consensus of the Commissioners was to go ahead and begin the process of creating a Tax Increment Financing District for the clinic site. .