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.y of <br /> <br />River <br /> <br /> TO: <br />~)~_FROM: <br /> DATE: <br /> <br /> SUBJECT: <br /> <br />**Item 3.3?* <br /> <br />MEMORANDUM <br /> <br />Mayor & City Council <br /> <br />Paul T. Steinman, Director of Economic <br />Development <br /> <br />May 7, 1998 <br /> <br />Consider Resolution Calling for a <br />Public Hearing to be Scheduled for <br />Creation of TIF District No. 19 (Earl <br />Hohlen Project) <br /> <br />Issue <br /> <br />The issue before the City Council at this time is to call for a public hearing to <br />be held on the Modification of Development District No. i and the <br />establishment of Tax Increment Financing District No. 19. A public hearing <br />on this issue was previously scheduled for June 1, 1998, but due to a variety <br />of timing issues it will no longer be possible to meet that date. <br /> <br />Background <br /> <br />The Earl Hohlen project is a mixed use redevelopment of the Elk Terrace <br />Mobile Home Park and Vandenberge property by Associated Builders of <br />Apple Valley. The current process involves a complete analysis of the <br />developer's tax increment application and request in addition to continuing <br />discussions of the Business Park component (Vandenberge property) of this <br />mixed use development. Due to the complexity of this process and some <br />difficulty receiving the proper information from the developer, the timeline is <br />proposed to be extended. Staff is requesting that the public hearing be <br />rescheduled from June 1, 1998, to July 13, 1998. <br /> <br />Recommendation <br /> <br />Staff recommends approving Resolution 98-__ calling for a public hearing by <br />the City Council on the Modification of Development District No. I and the <br />establishment of Tax Increment Financing District No. 19. This public <br />hearing shall be held on Monday, July 13, 1998, at approximately 6 p.m. in <br />the Council Chambers at City Hall. <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 />