Minutes - Council - 12/14/2010 - Laserfiche WebLink

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Mayor Ramsey concurred with Councilmember Looks concerns and if Option A was chosen, it would have to be managed and watched carefully. He believed options should be kept open and the City could manage this properly. He noted this decision was not being taken lightly and he was in favor of going with Option A with the understanding it would be monitored very closely and it would be switched to Option B as soon as practical. Councilmember Elvig stated a TIF District did not mean an increase in taxes to the residents or businesses as long as the TIF District was managed properly. Motion by Councilmember Elvig, seconded by Councilmember Wise, to adopt Resolution #10- 12 -267 Approving the Modification to the Development Program for Development District No. 1 Establishing Tax Increment Financing (Redevelopment District No. 14 and approving the Tax Increment Financing Plan therefore with Development District 1 — under Option A as presented tonight, reserving Option B as a potential election later. Further Discussion: Councilmember Jeffrey stated he was in favor of the TIF District, but he was not in favor of Option A. Councilmember Look noted under Option A businesses would be paying more in fiscal disparity than under Option B. Councilmember Wise noted he could pay more if more people and businesses were around. Dr. Denaway reviewed the base value calculation for Council. Councilmember Wise did not believe an interchange would come to fruition without a cluster of development that would drive it. He noted by keeping this Option A, the opportunities would be left for the widest range. Mayor Ramsey believed Option A at this point would be the right decision as long as it could be changed in the future while Option B could not be changed in the future. Councilmember Look stated he was in favor of the TIF district, but not Option A. Motion carried. Voting Yes. Mayor Ramsey, Councilmembers Dehen, Elvig, McGlone, and Wise. Voting No: Councilmembers Jeffrey and Look. Motion by Councilmember Elvig, seconded by Councilmember Wise, to Adopt the Resolution #10 -12 -268 Decertifying Tax Increment Financing Districts No. 11, 12, and 13, and Returning Excess Tax Increments to other Taxing Jurisdictions. Motion carried. Voting Yes: Mayor Ramsey, Councilmembers Dehen, Elvig, Jeffrey, Look, McGlone, and Wise. Voting No: None. 6.03: Request for Final Site Plan Review of Suite Living at The COR Mayor Ramsey closed the regular portion of the City Council meeting at 8:48 p.m. in order to conduct a public hearing. Public Hearing Mayor Ramsey called the public hearing to order at 8:48 p.m. City Council / December 14, 2010 Page 9 of 19