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Jl <br /> <br />I <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />the bond. He explained that the developer is financing the cost of the improvements and being <br />reimbursed over a period of time. Economic Development Consultant Mulrooney stated a <br />redevelopment district can have a term of 25 years of increment or a 27 year total life. In this <br />case, it is anticipated it will be terminated sooner with an anticipated life of 15 years. <br /> <br />Councilmember Hendriksen asked about the job creation. <br /> <br />Economic Development Consultant Mulrooney restated they will bring 23 jobs at $14 an hour <br />average rate and will add another ten jobs at $14 per hour within a two year time frame. <br /> <br />City Administrator Norman noted that Agenda Case 6 is the development agreement and this <br />agenda item is to schedule the public hearing to establish the TIF District. <br /> <br />Mayor Pro tern Zimmerman asked if this District encompasses any other new property. <br /> <br />Economic Development Consultant Mulrooney advised that it includes four different parcels, <br />two are occupied by buildings and two by improvements such as parking lots <br /> <br />Councilmember Anderson stated that some of this property came before the Lower Rum River <br />Water Management Organization (LRRWMO) last week and it was mentioned there was an old <br />agreement for drainage under Highway 10 to the river. <br /> <br />City Engineer Jankowski stated that he is unsure what that reference was to but, in the late 1980s, <br />a storm sewer was proposed that included participation with Mn/DOT to drain the Highway <br />midway between Ramsey and Armstrong Boulevards. <br /> <br />Councilmember Anderson asked that staff research that indication to assure the water drainage is <br />properly addressed. <br /> <br />Councilmember Hendriksen stated he is unaware of any drainage problems with this site. <br /> <br />Citizen Input <br /> <br />There was none. <br /> <br />Motion by Councilmember Hendriksen, seconded by Councilmember Connolly, to close the <br />public hearing. <br /> <br />The public hearing closed at 8:13 p.m. <br /> <br />Motion carded. Voting Yes: Mayor Pro tern Zimmerman, Councilmembers Hendriksen, <br />Connolly, and Anderson. Voting No: None. Absent: Mayor Gamec. <br /> <br />Council Business <br /> <br />City Council/January 25, 2000 <br /> Page 10 of 34 <br /> <br /> <br />