Laserfiche WebLink
Public <br /> <br />Mayor Garnet called the public heating to order at 7:26 p.m. <br /> <br />Presentation <br /> <br />Consultant Mulroo~]cy reviewed th::tt recently a development agreement with JetTy Szykulski, of <br />Rotary Systems, lr~c., has been neg.'~tiatcd with City staff. The project includes the construction <br />cfa 30,00/) square tbot oF ficc/warci~ouse building in the summer of 2004. The building will be <br />located west oF Waltec in Sunfish l~al<e Business Park Second Addition. The County Assessor <br />has established an assessed taxable ma~q~et value of approximately $1,440,000 for the project. It <br />is anticipated that ibc pt'oicct will ~et~orate $46,900 dollars annually in taxes and approximately <br />$28,050 annually in tax capacity. 'Fh~~, tax increment generated per year will be approximately <br />$16,200 per year toward the Tll7 Di:;trict, which would be used to assist the City with its payment <br />Ik>r public improw:mcnts and land acquisition costs, The requested amount for assistance is <br />$115,000, which wottld assist i~ undetxvriting a portion of the project cost. Staff is <br />rccommct~ding approval of' the bu~ine~;s subsidy agreement and the authorization to enter into <br />and cxccntc th~: ag~ cement with Rot~u:y Systems. <br /> <br />Citizen Input <br /> <br />There was nora:. <br /> <br />Motion by C, ouncilmcmbcr Pearson, seconded by Councilmember Strommen, to close the public <br />hearing. <br /> <br />Motion cart'icxt. 'Voting ¥c:~: 54ayor Gamec, Councilmembers Pearson, Strommen, Cook, <br />Kurnl<, [-!lvig, and Zim~nerman. Voiing No: None. <br /> <br />'File tettblic hearh~.,, closed at V:28 p.'n. <br /> <br />Council Business <br /> <br />Mayor Garnet call¢'d the regular Git'/C?ouncil meeting back to order at 7:28 p.m. <br /> <br />Councilmeml~cr Kt{rak asked when ~hJs TIF district will mature. <br /> <br />Consultant Mul~'oo~uy repli~:d tile TF district will mature in the year 2012. <br /> <br />Councilmembcr /~;lx, ig inquired of' thc approximate number of jobs that will be generated with <br />this business. <br /> <br />Consultant Muh'oo~ley repli,~d the company plans on adding six new jobs. They currently have <br />nine to ten new employees and will i've in the range of about 15 employees to start. The company <br />is on a very rapid growth timetable:, sales have been extremely good for this business. The <br /> <br />City Council/May 25, 2004 <br /> Page 7 of 27 <br /> <br /> <br />