Laserfiche WebLink
City Administrator Norman explained that the use of TIF funds could reduce the number of years <br />the property owners have to pay for the project. He also noted that once Plants and Things <br />improves their property, the amount that the other three land owners will have to pay will be <br />reduced since the cost is based on property value. <br /> <br />Councilmember Kurak inquired if the property is officially mapped, and the property does not <br />develop, how do they justify the cost. <br /> <br />Councilmember Elvig stated that he would have to assume that that cost would be included in the <br />buy out. <br /> <br />City Administrator Norman replied that one of those pieces of property is vacant and being held <br />for speculative purposes and people are not guaranteed to make a profit. <br /> <br />Councilmember Elvig inquired if it was possible to agree to an amount that the properties are <br />valued by the addition of the pipe <br /> <br />Councilmember Cook stated that the pipe needs to be installed and then the Council needs to <br />have another discussion about possibly purchasing the property. <br /> <br />Councilmember Kurak stated that official mapping does not mean that a property owner is <br />unable to develop their property. They are able to come forward with a development plan and if <br />the City denies the plan then the City would have to purchase the land. <br /> <br />Councilmember Cook questioned why Plants N Things would want to do improvements on a <br />piece of property where there may be a road in the near future. <br /> <br />Principal City Engineer Olson replied that the owner of Plants and Things is still operating a <br />business and they have honored the City's request to not construct a new building, which would <br />increase their property value. <br /> <br />Councilmember Cook felt the project needed to occur, but he thought the money was coming <br />from the wrong place. <br /> <br />City Administrator Norman noted that he would have the Finance Department research the <br />possibility of using TIF funds and then bring that information to the Council for further <br />discussion. Staff will also prepare a case for the City Council to direct staff to proceed with the <br />condemnation action. <br /> <br />Councilmember Cook inquired if the City was currently in a condemnation situation. <br /> <br />Principal City Engineer Olson replied yes. <br /> <br />Councilmember Cook noted that if they can work out the funding of the project the City could <br />possibly eliminate the condemnation issue. <br /> <br />City Council Work Session/June 17, 2003 <br /> Page 4 of 6 <br /> <br /> <br />