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9) Authorize Stipulation and Withdrawal of Answer; Ace Solid Waste <br />10) Adopt Resolution #04-05-108 Approving Cash Disbursements Made and Authorizing <br /> Payment of Accounts Payable Invoicing Received During the Period of April 17, 2004 <br /> through April 30, 2004 <br />I1) Adopt Resolution #04-05-109 Calling for a Public Hearing on Adoption of an Ordinance <br /> Establishing Special Service Distrct No. 1 <br />12) Adopt Resolution #04-05-110 Authorizing Curb and Gutter Work in Hunters Ridge <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Pearson, Zimmerman, Cook, <br />Elvig, Kurak, and Strommen. Voting No: None. <br /> <br />Motion by Councihnember Elvig, seconded by Councilmember Strommen, to approve Consent <br />Agenda item number 8: <br /> <br />8) Approve Application fi'om the Rotary Club of Ramsey for Exemption from a Lawful <br /> Gambling License to Hold a Raffle on September 18, 2004 <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Elvig, Strommen, Cook, Kurak, <br />and Zinnncrman. Voting No: None. Abstain: CouncilmemberPearson. <br /> <br />COUNCIL BUSINESS <br /> <br />Case #1: <br /> <br />Public Hearing to Consider Execution of a Business Subsidy Agreement with <br />O'Brien Properties of Monticello, LLC <br /> <br />Mayor Gamec closed the regular portion of the City Council meeting at 7:20 p.m. in order to <br />conduct a public hearing. <br /> <br />Public Hearing <br /> <br />Mayor Gamec called the public hearing to order at 7:20 p.m. <br /> <br />Presentation <br /> <br />Economic Development Consultant Mike Mulrooney explained that this project includes the <br />construction of a 34,000 square foot office/warehouse building in the spring of 2004. The <br />building will be located east of Building Fasteners in AEC Energy Park Third Addition. This <br />project is considered Phase I1 of the project that was started in 1998. The Phase ~ project <br />consisted of a 31,000 square foot building. It is anticipated that the Phase 1I project will create at <br />least seven new jobs paying a wage of at least $12 per hour in a two year period. The estimated <br />taxable market value of the Phase II project is approximately $1,400,000. It is anticipated that <br />the project will generate $47,688 dollars annually in taxes and approximately $27,250 annually <br />in tax capacity. The tax increment generated per year will be approximately $24,100 per year <br />toward the TIF district, which would be used to assist the City with its payment for public <br />improvements and land acquisition costs. <br /> <br />City Council/May 11, 2004 <br /> Page 5 of 36 <br /> <br /> <br />