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9) <br /> <br />11 <br /> <br />Authorize S ti pulation and Withdrawal of Answer; Ace Solid Waste <br />Adopt Resolution #04-05-1~)8 Approving Cash Disbursements Made and Authorizing <br />Payment of` Accounts Payable h~voicing Received During the Period of April 17, 2004 <br />througl~ Ap~ il 30, 2004 <br />Adopt Resolution #04-05-109 Calling for a Public Hearing on Adoption of an Ordinance <br />Establislfin~ Special Sci'vice Distrct No. 1 <br />Adopl Resolution #04-05-110 Authorizing Curb and Gutter Work in Hunters Ridge <br /> <br />Motion can-icrt. \()ting Yes: Mt~7or Gamec, Councilmembers Pearson, Zimmerman, Cook, <br />Elvig, Ktu'ak, and Slrommen. Voting No: None. <br /> <br />Motion by C. ou~cilmcmbcr gtvig, s~:conded by Councilmember Strommen, to approve Consent <br />Agenda item i]tnnbt~'r 8: <br /> <br />8) Approve Application fi'om ~htz Rotary Club of Ramsey for Exemption from a Lawful <br /> (iamblmg I,iccnse to Itold a Raffle on September 18, 2004 <br /> <br />Motion carried. \/~.)ting Ye:q: May~)r (;amec, Councilmembers Elvig, Strommen, Cook, Kurak, <br />and Zimmcrman. \'otingN(~: None. Abstain: CouncilmemberPearson. <br /> <br />COUNCIl, llUSlb~ESS <br /> <br />Case#l: <br /> <br />i'ub~ic Hearing to Consider Execution of a Business Subsidy Agreement with <br />¢)'B rien ProperOes of Monticello, LLC <br /> <br />Mayor Gamcc c;los~zd thc regular p~>rtion of the City Council meeting at 7:20 p.m. in order to <br />conduct at public hearing. <br /> <br />Public I lea]'inl[,, <br /> <br />Mayor Garnet called the publi~3 hearing to order at 7:20 p.m. <br /> <br />Presentation <br /> <br />Economic l)cvclopment Consultani Mike Mulrooney explained that this project includes the <br />construction of` a i~4,(/00 square fi,et office/warehouse building in the spring of 2004. The <br />building will bc lo~:atcd cast of` Building Fasteners in AEC Energy Park Third Addition. This <br />project is considcr[zd Phase I[ of' ibc project that was started in 1998. The Phase I project <br />consisted of a 31,0()0 square lbot bu ilditag. It is anticipated that the Phase II 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 mm'kc! valtlc of' the Phase l i p~ojeet is approximately $1,400,000. It is anticipated that <br />thc project will get,crate $47,(388 d{dla~'s annually in taxes and approximately $27,250 annually <br />in tax capacity. ~l'hc tax increment generated per year will be approximately $24,100 per year <br />toward thc TIF district, which wotdd be used to assist the City with its payment for public <br />improvements and land acquisition <br /> <br />City Council/May 11, 2004 <br /> Page 5 of 36 <br /> <br /> <br />