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the City will implement some type of assessment project for the installation of sewer and water <br />to the Ramsey B & B LLC facility. <br /> <br />Councilmember Hendriksen inquired if the applicant is willing to stipulate to the 2.6 million <br />estimated market value. <br /> <br />Mr. Winkels replied yes. <br /> <br />Councilmember Hendriksen questioned if the property would be a redevelopment district or TIF <br />district. <br /> <br />Economic Development Consultant Mulrooney explained that the property will be a <br />redevelopment TIF district. <br /> <br />Councilmember Hendriksen inquired as to the amount of time the district will be in place. <br /> <br />Economic Development Authority Mulrooney replied that it would be a 15-year TIF district on <br />the single property. <br /> <br />City Administrator Norman explained the reasoning for the single property TIF district. <br /> <br />City Attorney Goodrich noted that if for any reason the City is unable to collect the increment <br />then the applicant would be responsible for paying back funds. <br /> <br />Motion by Councilmember Hendriksen, seconded by Councilmember Connolly, to approve the <br />site plan proposed by B & B Carpet showroom and warehouse business use contingent upon <br />compliance with the City Staff Review letter dated November 30, 1999 and adding appropriate <br />wording stating that the applicant is willing forego their Highway #10 access when a frontage <br />road is installed. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Hendriksen, Connolly, and <br />Anderson. Voting No: None. <br /> <br />Motion by Mayor Gamec, seconded by Councilmember Hendriksen, to schedule a public hearing <br />on January 25, 2000, at 7:00 p.m. to consider executing a business subsidy agreement with <br />Ramsey B & B LLC. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Hendriksen, Anderson, and <br />Connolly. Voting No: None. <br /> <br />Motion by Councilmember Hendriksen, seconded by Councilmember Cormolly, to schedule a <br />public hearing on January 25, 2000 at 7:00 p.m. for the creation of a Tax Increment Financing <br />Redevelopment District for Ramsey B&B L.L.C. <br /> <br />City Council/December 21, 1999 <br /> Page 8 of 15 <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 />I <br />I <br />I <br /> <br /> <br />