06/26/85 Special Meeting - Laserfiche WebLink

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~0~ISSr ~0~ BU.S_INESS ~ Dfgcuss Possibility Of Tax Increment Financin_~ Beina Used For ~ ~frDort Building- Develorm~.nt: - Chairman I~pel stated that the reason for this discussion is that Commissioner Greenberg .~roUght to the Commission's attention that property west of the runway is ready to develop; that perhaps the City should take advantage of that develo~men~ by creating a tax increment district there and using that tax increment_ ~erived for airport building development on the east side of the runway. C~ai~man Ippel stated that Ms. Norris, Mr. Schnelle and Ms. Waelti stated that the idea warrants looking into. If the Commission wants to pursue tax incr~n~ ~financing for the airport developaent, a recommendation should be made to .City Go~ncil to include the airport area in the Tax Increment Plan. Mr. Otto s~ated that the final draft for the Airport Master Plan is in it's final sta~s and advised against making changes just prior to sukmittal to governing ~es. Changing airport building develo~ent to the east side of the runway' r ~.r ~ 'equires grading in the area of the cemetery or repositioning the runway west. Chairman IPPel explained the theory of tax increment financing. Mr. Otto s~ated that changing airport building development to the east would put the air. port at a loss for future area to develop; developing to the east does not alloW for the freedom of movement there is with the present configurat2[on. Changing an approved Master Airport Plan involves an ALP Revision, ~n~ironmental Impact Supplement and revised zoning plan; every change must be s_u~mi~ted to FAA for approval. Mr. Otto stated that Gateway's plan is for a miniaml ~facility and making it ~aller does not make good economic sense. Motion by Commissioner Larsen and seconded by Commissioner Stauffer that based on the tec~iC~-! superiority of the Airport Master Plan that has been prepared, the Ccmmi~io~ has determined to proceed with that Plan and not make any revisions to it. Motion ca~ied. Voting Yes: Chairman Ippel, Cc~missioners Larsen, Stauffer and Ericks~n. Voting No: None. Abstain: Commissioner Greenberg. Absent: Commissionmrs Donovan, Sieber, Siebert and Soderholm. Motion by .~hai~man Ippel and seconded by Commissioner Erickson to recommend that the ~o~mic Development Commission research the feasibility of including the Industrial Park area and the residential area within the limits of AIP eligibili~ being declared a Tax Increment Project Area; this recommendation is based on dsveloper expressed interest in developing that area in and around the airport. Motion carried, Voting Yes: Chairman Ippel, Commissioners Greenberg, Larsen, Stauffer ~ Erickson. Voting No: None. Absent: Co~missioners Donovan, Sieber, Siebert and Soderholm. June 26, 1985 Page 2 of 3