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No action was necessary. Staff put together the information and forwarded to the impacted <br />property owners. <br /> <br />Case #16: <br /> <br />Execution of Business Subsidy Agreement with L & D Properties, LLC and <br />Introduction of an Ordinance Authorizing the Sale of the South 167 Feet of <br />Lots 2 and 2A, Block 1, West Radium Business Center First Addition, Anoka <br />County, Minnesota <br /> <br />City Attorney Goodrich stated that recently a development agreement with L & D Properties (dba <br />Precise Metalcraft) has been negotiated with City staff. The project includes the construction of <br />a 10,500 square foot office/warehouse building in the summer of 2003. The building will be <br />located in West Radium Business Center First Addition south of the H & P properties building. <br />It was anticipated that the project will create at least three new jobs paying a wage of at least <br />$12.00 per hour in a two-year period. The County Assessor has established an assessed taxable <br />market value of approximately $550,000 for the project. It is anticipated that the project will <br />generate $11,800 annually in taxes and approximately $10,750 annually in tax capacity. The tax <br />increment generated per year will be approximately $9,300 per year toward the T~ District, <br />which would be used to assist the City with its payment for public improvements. <br /> <br />Motion by Councilmember Kurak, seconded by Councilmember Pearson, to authorize business <br />subsidy agreement with L & D Properties, LLC and authorize execution of a development <br />agreement with L & D Properties, LLC, contingent upon review by the City Attorney. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Kurak, Pearson, Cook, Elvig, <br />and Zimmerman. Voting No: None. <br /> <br />City Attorney Goodrich stated that the City is in the process of drafting a TIY agreement with L <br />& D Properties, LLC. As a part of the transaction, the City is to convey title to the South 167 <br />feet of Lots 2 and 2A, Block 1, West Radium Business Center First Addition to L & D <br />Properties, LLC. In order to complete this transaction, a sale ordinance needs to be introduced <br />and adopted authorizing the sale. <br /> <br />Motion by Councilmember Kurak, seconded by Councilmember Pearson, to introduce an <br />ordinance authorizing the sale of South 167 feet of Lots 2 and 2A, Block 1, West Radium <br />Business Center First Addition. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Kurak, Pearson, Cook, Elvig, <br />and Zimmerman. Voting No: None. <br /> <br />MAYOR AND COUNCIL INPUT <br /> <br />1) Planning Commission Appointment <br />City Administrator Norman stated that during a joint work session, members of the City Council <br />discussed the idea of drafting new language regarding the board and commission members. The <br />language would have to do with the structure of the Planning Commission and introduce the <br /> <br />City Council/June 10, 2003 <br />Page 20 of 22 <br /> <br /> <br />