Agenda - Council - 02/13/2001 - Laserfiche WebLink

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I I I I I I I I I I I '1 Case//3: Public Hearing to Consider Execution of Business Subsidy Agreement Pheoll Fastening Systems Mayor Gamec closed the regular portion of the City Council meeting at 7:57 p.r the public heating to order. Public Hearing Mayor Gamec called the public hearing to order at 7:57 p.m. Presentation to call I City Administrator Norman stated that the prop~ Fastening Systems ahs been recently negotiated in Minneapolis and is proposing to move their facility to a North Industrial Park. The project includes the construction the spring of 2001. The company is an engineering and fastening systems that desires to move~closer to an employee base area. It is anticipated that the proj, employees to an additional ten pays an average of just process, the County Assessor w~ approximately $2,713. It is million dollars and will generate approximately $44,000;in~x increment assist the Clty?~th Its payment ~n bon&ng Economte: Development Consultant M~ke Fastenifig::s~ems will cr~t~is exactly the Cit~en Input~"~:}.;:¢:- ase its employees from o year 1: per an ect with Pheoll operates in the Gateway square foot facility in g parts for ~olitan staffing of 50 currently coffiptetion of the platting )acity for the parcel of at approximately $2 y in tax capacity, and ,ward the TIF Disttict, which would be used to 'uisition and public improvements. stated that the types of jobs that Pheoll the City is looking for. Motion to'~b~' C :i~ ~e ~:Zi~e~an, seconded by Counci~ember K~ak, to close the -~:~;~.~.~Motion came& ~.Vot~ng Yes. Mayor Gamec, Councdmembers Z~e~an, Kurak, ~derson, I ,q:?:.:~ andHendnks~n~.;~VotxngNo. None. "-}:{~ public'heafing dosed at 7:59 p.m. CohhCil 'Business City Council/January 23, 2001 Page 11 of 30 -105-