Agenda - Council - 07/09/2019 - Laserfiche WebLink

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Business Subsidy Policy and unanimously passed a motion recommending approval of the two resolutions. Public Hearing Mayor LeTourneau called the public hearing to order at 7:35 p.m. Citizen Input There was none. Motion by Councilmember Kuzma, seconded by Councilmember Heinrich, to close the public hearing. Motion carried. Voting Yes: Mayor LeTourneau, Councilmembers Kuzma, Heinrich, Musgrove, and Riley. Voting No: None. The public hearing was closed at 7:35 p.m. Council Business Councilmember Riley stated that this item has been discussed previously by the Council and the EDA. He stated that there are many benefits to this action noting that this is a pay -go note which means the City is not out upfront money, will bring a new business to the City, the City will enjoy increased tax capacity after the TIF expires, 135 good paying jobs will be brought to the community, this will be the first business to come to the business park, and the City will collect unpaid assessments on the property. Motion by Councilmember Musgrove, seconded by Councilmember Kuzma, to Adopt Resolution #19-143 Approving the Modification to the Development Program for Development District No. 1 and Establishing Tax Increment Financing District No. 17: Delta Modtech Within Development District No. 1 and Approving the Tax Increment Financing Plan Therefor and to Adopt Resolution No. #19-144 Authorizing Execution of a Tax Increment Financing (TIF) Agreement: Delta ModTech. Further discussion: Mayor LeTourneau stated that he is pleased to welcome Delta ModTech to the community, should the motions pass. Motion carried. Voting Yes: Mayor LeTourneau, Councilmembers Musgrove, Kuzma, Heinrich, and Riley. Voting No: None. 7. COUNCIL BUSINESS 7.01: Adopt Resolution #19- 138 Approving Final Plat and Site Plan for Delta ModTech (Project #19-108); Case of Delta ModTech City Council / June 25, 2019 Page 6 of 10