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Councilmember Dehen stated that the purpose of TIF is primarily for the rail station and the <br />overpass and asked what TIF will not be used for. <br />Mr. Ulrich stated the areas outside of the defined boundaries could not be using TIF. If COR is <br />successful, there will be satellite development around the area and an opportunity to decertify <br />early. We can be selective of the parcels in the COR. <br />Councilmember Look commented about looking at spending this money on infrastructure, we <br />cannot go for taxes to pay this. <br />Consensus of the Council was it is okay to move forward to look at TIF. <br />Mayor Ramsey recessed the work session at 6:41 p.m. <br />Mayor Ramsey called the work session back to order at 7:36 p.m. <br />City Administrator Ulrich asked to add an update regarding the ICO Property. <br />Jodi Ruehle, The Tinklenberg Group, stated that the estimate came back at $30,000 to do the <br />demolition on the ICO property. We offered a reduced purchase price by $54,000 -they said no. <br />It would be $34,000 for demolition and she asked if Council wanted to continue. We do not <br />know if we need a phase II. <br />Councilmember Jeffrey stated if Phase I and Phase II are down, someone could make a call to <br />the County. At one point in time, we had approval to demo the back buildings. He commented <br />on the closeness to the highway and the asbestos. <br />Councilmember Dehen stated that ICO got a good break on higher economic bucks. <br />Ms. Ruehle stated they aze in-the five to ten percent reduction range. If we say no, you will not <br />have the opportunity for awhile - or ever. <br />Councilmember McGlone inquired if Ms. Ruehle is conveying that RALF could go away to <br />which Ms. Ruehle replied yes. <br />Councilmember Wise inquired if the property taxes are current to which Ms. Ruehle replied yes. <br />Councilmember Look stated that if something is contaminated, shouldn't the City be on top of <br />that. <br />Ms. Ruehle stated reported that Phase I will document what MnDOT needs to see. <br />Consensus of the Council was to stay at $54,000 escrow -but if it costs $32,000, they get the <br />balance back. <br />City Council Work Session -June 1, 2010 <br />Page 3 of 11 <br />