Laserfiche WebLink
Motion by Councilmember Pearson, seconded by Councilmember Cook, to close the ptt~,c <br />hearing. ~ <br /> <br />Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Pearson, Cook, Elvig, Kurak, <br />Strommen, and Zimmerman. Voting No: None. <br /> <br />The public hearing closed at 7:13 p.m. <br /> <br />Council Action <br /> <br />The regular meeting of the City CounCil was called back to order at 7:13 p.m. <br /> <br />Motion by Councilmember Zimmerman, seconded by Councilmember Kurak, to authorize a <br />business subsidy agreement with W Properties, LLC; and to authorize the execution of a <br />development agreement with W Properties, LLC 'contingent upon review by the City Attorney. " <br /> <br />Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Zimmerman, Kurak, Cook, <br />Elvig, Pearson, and Strommen. Voting No: None. <br /> <br />Case #3: Public Hearing to Cousider Execution- of a Business Subsidy Agreement with <br /> Rum River Dental Creation, LLC <br /> <br />Mayor Gamec called the public heating to order at 7:14 p.m. <br /> <br />Presentation <br /> <br />Economic Development Consult~ht Mulrooney stated that recently a development a~eement <br />with Rum River Dental Creations, LLC has been negotiated with City staff. The project includes <br />the construction of a 2,596 square foot office/warehouse building in the fall of 2003. The <br />building will be located south of Waltec in Sunfish Lake Business Park. It was anticipated that <br />the project will create at.least four new jobs pa~ng a wage of at least' $14.00 per hour in a two.- <br />year period. The County Assessor has established an assessed taxable market: value of <br />approximately $439,000 for the project. It was anticipated that the project will generate $13,900 <br />mmually in taxes and approximately $8,030 annually in tax capacity. The tax increment <br />generated per year will be approximately $4,400 per year towai'd the T~ District, which would <br />be used to assist the City with its payment for public improvements and land acquisition costs. <br /> <br />Citizen Input <br /> <br />There was none. <br /> <br />Motion by Councilmember Strommen, seconded by Councilmember Elvig, to close the public <br />hearing. <br /> <br />City Council/August 26, 2003 <br /> Page 7 of 25 <br /> <br />-85- <br /> <br /> <br />