Agenda - Council - 02/22/2000 - Laserfiche WebLink

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Mayor Pro tem Zimmerman called the regular City Council meeting back to order at 8:13 p.m. City Administrator Norman requested a correction to the eighth WHEREAS to indicate "Anoka County Board" rather than "Dakota County Board." Motion by Councilmember Connolly, seconded by Councilmember Hendriksen, to adopt Resolution #00-01-XXX approving the establishment of Tax Increment Financing for TIF District No. 7-1. Further discussion: City Attorney Goodrich stated he reviewed the document and found it within the requirements of the State. Motion carried. Voting Yes: Mayor Pro tern Zimmerman, Councilmembers Connolly, Hendriksen, and Anderson. Voting No: None. Absent: Mayor Gamec. Councilmember Hendriksen suggested that Case #6 be addressed next since it was included in the staff presentation. The Council agreed ..with this suggestion. Case #6: Request for Authorization for Execution of a Development Agreement with Ramsey B&B L.L.C. City Administrator Norman stated the proposed TIF development agreement is with Ramsey B&B L.L.C. for construction ora 42,000 square foot facility to be located along Highway #I0 on the site formerly known as The Lighthouse Bar and Grille. The site plan review was considered on the previous agenda case. He noted that while the City's experience in business subsidy for Highway # 10 is somewhat limited, it has provided business assistance for the recent construction of a hotel at the intersection of Highway #10 and Sunfish Lake Boulevard. The County Assessor's office has placed the new retail/commercial facility at $1,910,900. It is anticipated that the project will generate approximately $78,300 in tax increment per year toward the TIF District, which would be reimbursed back to the developers as their incentive to proceed with this project. The project would require the creation of a new Tax Increment Financing Redevelopment District and the year of completion is yet to be negotiated. Staff recommended the Council authorize execution of a development agreement with Ramsey B&B L.L.C. contingent upon review by the City Attorney. Motion by Councilmember Hendriksen, seconded by Councilmember Connolly, to authorize execution of a development agreement with Ramsey B&B L.L.C. contingent upon review by the City Attorney. Motion carried. Voting Yes: Mayor Pro tem Zimmerman, Councilmembers Hendriksen, Connolly, and Anderson. Voting No: None. Absent: Mayor Gamec. City Council/January 25, 2000 Page I 1 of 34 i I I I I I I I I I I I I I I I I I