06-17-1996 EDA MIN - Laserfiche WebLink

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e SPECIAL MEETING OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY HELD AT THE ELK RIVER CITY HALL MONDAY, JUNE 17, 1996 Members Present: President Gongoll; Commissioners Bender, Scheel, Duitsman, Holmgren, and Dwyer (arrived 5:50 p.m.) Members Absent: Commissioner Farber Staff Present: Lori Johnson, Acting Executive Director; Sandra Thackeray, City Clerk; Phil Hals, Street/Park Superintendent 1 . Call Meetim;;l To Order Pursuant to due call and notice thereof, the special meeting of the Elk River Economic Development Authority was called to order at 5:45 p.m. by President Gongol!. 2. Consider 6/17/96 EDA Aaenda e COMMISSIONER HOLMGREN MOVED TO APPROVE THE 6/17/96 'EDA AGENDA AS PRESENTED. COMMISSIONER BENDER SECONDED THE MOTION. THE MOTION CARRIED 5-0. 3. Public Hearina on Tax Increment Financina Plan for Tax Increment Financina District No. 15 {McChesney Cabinetsl Acting Executive Director Lori Johnson indicated that the tax increment financing district involves $35,000 in TIF assistance to McChesney Cabinets on a pay-as-you- go basis. She further stated that it is expected that the increment will be collected for four years starting in 1998. President Gongoll opened the public hearing. There being no one for or against the matter, President Gongoll closed the public hearing. COMMISSIONER BENDER MOVED TO APPROVE EDA RESOLUTION 96-3, A RESOLUTION RELATING TO THE ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 15 AND THE ADOPTION AND APPROVAL OF THE TAX INCREMENT FINANCING PLAN RELATING THERETO, LOCATED WITHIN DEVELOPMENT DISTRICT NO. 1. COMMISSIONER SCHEEL SECONDED THE MOTION. THE MOTION CARRIED 5-0. Commissioner Dwyer arrived at this time (5:50 p.m.) 4. Consider Private Development Contract for T1F No. 15 between the City/EDA and McChesney Cabinets e Acting Executive Director Lori Johnson briefly reviewed the Contract for Private Development by and between the City of Elk River, the Economic Development Authority, and Gerald and Joanne McChesney.