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P74 <br /> <br /> Citizen Input <br /> <br /> There was none. <br /> <br /> Motion by Councilmember Elvig, seconded by Councilmember Cook, to close the public <br /> hearing. <br /> <br /> Motion carried. Voting Yes: Mayor Gamec, Councilmembers Elvig, Cook, Kurak, Pearson, <br /> Strommen, and Zimmerman. Voting No: None. <br /> <br /> The public hearing was closed at 7:17 p.m. <br /> <br /> Council Business <br /> <br /> Mayor Gamec called the regular City Council meeting back to order at 7:17 p.m. <br /> <br /> Motion by Councilmember Kurak, seconded by Councilmember Pearson, to authorize the <br /> business subsidy a~eement with HSHT, LLC, and to authorize execution of a development <br /> a~eement with HSHT, LC (dba Rotary Systems, Inc.), contingent upon review by the City <br /> Attorney. <br /> <br /> Councih'nember Zimmerman asked if the difference in the $30,306 annually in tax capacity and <br /> the $16,700 that goes to the TIF District goes to the county and the school district. <br /> <br /> City Administrator Norman replied the county, City, and special taxing district capture this <br /> amount. <br /> <br /> Councilmember Zimmerman asked how many years are remaining in this TIF District. <br /> <br /> City Administrator Norman replied this will utilize the full economic development district, <br /> which has approximately nine usable years. <br /> <br /> Councilmember Elvig-questioned what type of. back~ound check is completed on businesses <br /> regarding their profit and loss statements to'be sure they are a healthy company. <br /> <br /> City Attorney Goodrich replied Consultant Mike Mulrooney completes this work. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Kurak, Pearson, Cook, E]vig, <br />Strommen, and Zimmennan. Voting No: None. <br /> <br />Case #2: Public Hearing to Consider Execution of Business Subsidy Agreement with <br /> Huntington Family Properties, LLC. <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 /> Cit3, Council/June 22, 2004 <br /> Page 6 of 31 <br /> <br /> <br />