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I I I I I I I I I I I I I I I I I i I ~$SION BUSINESS Discuss Possibility Of Tax Increment Financing_ Being Used Fo~ Air_port Building Develo_~ment: (haizman Ippel stated that the reason for this discussion is that Om~issioner Greenberg brought to the (km~ission's attention that property west of the zunway is ready to develop; that perhaps the City should take advantage of that development by creating a tax increment district there and using that tax increment derived for airport building development on the east side of the runway. (hairman Ippel stated that Ms. Norris, Mr. Schnelle and Ms~ Waelti stated that the idea warrants looking into. If the (lm~ission wants to pursue tax increment financing for the airport develounent, a recommendation should be made to City Oouncil to include the airport area in the Tax Increment Plan. Mr. Otto stated that the final draft for the Airport Master Plan is in it's final stages and advised against making changes just prior to submittal to governing bodies. (hanging airport building development to the east side of the runway requires grading in the area of the cemetery or repositioning the rur~ay to the west. Chairman Ippel explained the theory Of tax increment financing. Mr. Otto stated that changing airport building develo~ent to the east would put the airport 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 configuration. (hanging an approved Master Airport Plan involves an ALP Revision, Environmental Impact Supplement and revised zoning plan; every change must be sutmitted to FAA for approval. Mr. Otto stated that Gateway's plan is for a minimal facility and making it waller does not make good econumic sense. Motion by (k~missioner Larsen and seconded by Oa~missioner Stauffer that based on the technical superiority of the Airport Master Plan that has been prepared, the Omm~ssion has determined to procccd with that Plan and not make any revisions to it. Motion carried. Voting Yes: Chaizman Ippel, (k~missioners Larsen, and Erickson. Voting No: None. Abstain: Cc~missioner Greenberg. C~ssioners Donovan, Sieber, Siebert and Soderhol~ Stauffer Absent: Motion by (hairman Ippel and seconded by ___~_ 'ssioner Erickson to recommend that the Eoonc~ic Development Commission research the feasibility of including the Industrial Park area and the residential area within the limits of AIP eligibility being declared a Tax Increment Project Area; this reo~endation is based on developer expressed interest in developing that area in and around the airport. Motion carried. Voting Yes: Chairman Ippel, (I~ssioners Greenberg, Larsen, Stauffer and Erickson. Voting No: None. Absent: C~ssioners Donovan, Sieber, Siebert and Soderholm. June 26, 1985 Page 2 of 3