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Mr. Aarsvold confirmed that will continue to be paid. He added increases will be collected in the <br />TIF district and received by the City. <br />Councilmember Musgrove asked whether the City can use the 40% however they want. She asked <br />where the budget comes from. <br />Mr. Aarsvold stated the 40% can be used for qualified purposes in or adjacent to the TIF district, <br />after the 9th year of the district. He added, if there is no use for the funds, they will be returned to <br />the County and redistributed to taxing jurisdictions. He noted this decision is made by the State <br />Auditor. <br />Councilmember Musgrove asked whether a building can be removed from a TIF district. <br />Mr. Aarsvold stated removal of a building from a TIF district can be done by a Resolution of the <br />City Council. <br />Councilmember Musgrove stated the City would not turn away a developer. She added she <br />understood that part of this is already stipulated in TIF districts, including Bunker Lake Boulevard. <br />City Administrator Ulrich stated there is a TIF district located south of Bunker Lake Boulevard <br />that includes industrial buildings developed by PSD. He added the COR is also in a TIF district. <br />Councilmember Musgrove asked whether this would be at TIF district within a TIF district. <br />City Administrator Ulrich stated a TIF district can be created within a development district, and <br />the City can spend TIF revenue in the development district. <br />Councilmember Riley stated this is an agreement with a developer to build 3 buildings, and the <br />City will not turn the developer away. He added this is a good deal for the City, as it will create <br />development and 100 jobs on a pay as you go system. <br />Public Hearing <br />Motion by Councilmember Musgrove, seconded by Councilmember Specht, to open the public <br />hearing. <br />Motion carried. Voting Yes: Mayor Kuzma, Councilmembers Musgrove, Specht, Heineman, <br />Howell, Riley, and Wo esteho ff. Voting No: None. <br />Citizen Input <br />There was none. <br />Motion by Councilmember Riley, seconded by Councilmember Musgrove, to close the public <br />hearing. <br />City Council / August 24, 2021 <br />Page 6 of 14 <br />