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you are mi: eupix~sed to tax incident develol~ent that have oome in array. <br /> <br />C~aactlw~r Cox stated that ltawsey ts capttall~lmg on ~evelot~ent that the <br />City knc~ was oozing, ~lae Tax Incr~ent plan proposes to take the tax <br />increment fr(~ that district and spend it in another project area, which may <br />indirectly benefit the developers in that tax increment district. Ge City may <br />have Ixoblems taking that money fr~m that district and not using it adjaoent to <br />the area that is p~ying those tax increment dollars. <br /> <br />Ms. Waelti stated that the appropriate use of those monies iS a Oounci/ <br />d~cision. <br /> <br />Mayor Heitman inquired to the lxooess involved in amending an adopted Tax <br />Increment Plan. <br /> <br />Ms. Waelti stated that any geographic changes to tax incre~ent districts and <br />project area and an increase to public expenditures would require a hearing <br />process. Use of tax increment money in the Tax Incre~_nt Progr~n. is only a <br /> <br />fbu~cil unanimously oonsented to dispense with the reading of the resolution. <br /> <br />Motion by Oom~cilmember Gox and ~eoond~ bi O~une/lm~ber Reimann to adopt <br />Resolution #85-169 appr{wing the es~_~h3ishment of Develolm~,nt District No. 1 <br />and the Development Program relating thereto and establishing Tax Increment <br />Financing District No. 1 and approving the Tax Increment Financing Plan <br />relating thereto. (Please refer to resolution file for Resolution %85-169). <br /> <br />Further Discussion: Councilm~ber Gox inquired if it would be appropriate to <br />include another p[oject area in the Tax Increment Progr~. at this time. Ms. <br />Waelti replied that it would not be approp~iate because if nothing occurs in <br />the next 4 years in that area, it wo~ld be dropped fr~ the Progr~. <br /> <br />Mayor Heitman called for a roll call vote: <br /> <br />Com~cil~mber (Dx - Aye <br />Go~cilme~ber Re/mann- Aye <br />Oo~cilmenber Sorteberg - Aye <br />Oom~cilm~ber Schlueter - Aye <br />Mayor Heitman- Aye <br /> <br />Motion carried. <br /> <br />C. Discussion Of Request Fr~ M & S Develo_~m~.nt Regarding_ Tax Increment <br /> <br />Mr. Leonard McLaughlin was p~esent. <br /> <br />M & S D~elol~ent is requesting the assistance of tax increment financing in <br />the develolm~.nt cf the ~hurchill Estates apartment house lxoject for ponding <br />area required by IlaR, landscaping and site lxeparatio~. <br /> <br />Ms. Waelti stated that M & S's request is for public im~xcwenents (soil <br /> August 27, 1985 <br /> <br />Page23 of 28 <br /> <br /> <br />