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change as Iany~hing that is considered a revenue producing center does not ~._~ <br />qualify f~r~ kX~P funds. Hangar ~ a 2/3 State and 1/3 City__ k~-~''~ © <br />participation effort. Mn/DoT has a separate k~v6iging hanga~ ~und available to <br />sponsoring 9~Verr~nents on a 10 year/interest free loan basis. Hangars are <br />developedI as .needed. The City's share of total development costs, with hangar <br />develo~meat, could go as high as $1,300,000. The City can choose not to get <br />involved in hangar development and lease the land to a hangar developer. <br /> <br />Mr. Otto ~%ated that, most oo~m~3nly, cities pay for airport development fr~m <br />acct~ula.ted f~nds built up over a period of time as there is a long lead time <br />in projegts of this magnitude. S~me cities pay for the develot~ent through <br />G.O. bonding; .a $500,000 bond at 8% with a debt retirement of $51,000/year <br />would amour to $11.00/household in Ramsey; as development occurs and shares <br />the tax b~rd~n, that $11.00 figure will decrease. Another way to finance <br />airport ~elo~ment is to establish a tax increment district that would <br />encompass'the'airport area and the tax increment dollars derived from that <br />district wo~d be used to pay the City's share of airport development costs; <br />with this. process, the people most benefitted by the airport would be paying <br />for it' s develo~ent. <br /> <br />Chairman Ippal opened the meeting for comments and/or questions and answers. <br /> <br />Patrick Kennedy - 7231 151st Avenue ~ - The airport issue should be put to a <br />r eferend~ vote. <br /> <br />Richard LaZer ,re - 7260 151st Avenue NN - There were earlier oomments about 4 or <br />5 public r~eetings having been held already; was never notified of any of those <br />meetings. <br /> <br />Chairman Ippel - Those meetings were publicized in Union, Shopper and City <br />Newsletter a~ in one case, a city-wide mailing just as was done for tonight's <br />public hearing. <br /> <br />Mr. Otto -i Initial public meeting was May 16, 1984; the next one was August 22, <br />1984; anot~erl one on September 19, 1984; and a joint EDC/Council/Airport <br />Con~ission~public meeting in the Spring of 1985; all were publicized. <br /> <br />Co~missi~r Sieber - The Airport Commission meets the third Wednesday of the <br />month and all ~eetings are open to the public. The Commission has used every <br />source available to publicize it's special public meetings. <br /> <br />(~airman Ippel - There was a regular Commission meeting in which landowners <br />potentially affected by airport land a~quisition were invited to attend; those <br />landowners Were identified through Oounty records and the property owners of <br />record were notified. <br /> <br />Pamona O'Don~l - 7300 150th Lane h~ - She and two other property owners in <br />the saftey ZOne area did not receive an invitation to attend that particular <br />Commission meeting. <br />Chairman I~ - Residents in the safety zo~Xdid not receive a special ~ 5 <br />invitation-~ecause properties in the safety zone are not recommended for <br />acquisition. <br /> August 21, 1985 <br /> <br />Page 4 of 14 <br /> <br /> <br />