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~:ty of <br /> <br />**Item 3.16.** <br /> <br />MEMORANDUM <br /> <br />iver <br /> ROM: <br /> <br /> DATE: <br /> <br /> SUBJECT: <br /> <br />Mayor & City Council <br /> <br />Paul T. Steinman, Director of Economic <br />Development <br /> <br />January 20, 1998 <br /> <br />Tax Increment Financing District No. <br />19 (Hohlen Project) <br /> <br />Issue <br /> <br />At its meeting on Monday, January 12, 1998, the EDA unanimously <br />supported a motion recommending that the City Council call a public hearing <br />regarding the establishment of Tax Increment Financing District No. 19 <br />(Hohlen Project). The purpose of this action is to set in motion a schedule <br />which can be followed to identify and resolve the variety of issues associated <br />with this development project. The EDA discussed specifically that the <br />purpose of their action was to set in motion this schedule, but that final <br />decisions on whether to provide tax increment to this project has yet to be <br />decided. <br /> <br />Staff indicated that there is flexibility in the schedule to allow worksessions <br />to be held with Associated Builders to discuss the details of public dollars <br />being used and the issue of the industrial component of this project. Staff <br />also indicated that at any time the EDA/Councfl was uncomfortable with the <br />scheduled public hearing date, that such date can easily be adjusted. <br /> <br />Recommendation <br /> <br />Staff recommends that the Council adopt Resolution 97-__ cMling for a <br />public hearing to be held by the City Council on June 1, 1998, at <br />approximately 6 p.m. on the modification of Development District No. I and <br />the establishment of Tax Increment Financing District No. 19 (Hohlen <br />Project). <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />