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27) Adopt Resolution #05-09-302 Calling for a Public Hearing on Proposed Assessment for <br /> Improvement ProJect #05-06 (Bituminous Overlay Beaudry's 2"d,. Peltzer, Section 22 <br /> (Unplatted) <br />28) Adopt Resolution #05~09-303 Calling for a Public Hearing on Proposed Assessment for <br /> Improvement Project #05-07 (Bituminous Overlays Section 21 Unplatted) <br />29) Adopt Resolution #05-09-304 Calling for a Public Hearing on Proposed Assessment for <br /> hnprovement Project #05-08 (Bituminous Overlay Sorteberg's 4th Addition, Sorteberg's <br /> 5m Addition) <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Cook, Elvig, Jef~ey, Olson, <br />Pearson, and Strommen. Voting No: None. <br /> <br />PUBLIC HEARING/COUNCIL BUSINESS <br /> <br />Case #1: Public Hearing to Consider ExecutiOn of BusineSs Subsidy Agreement with <br /> Dalager Properties, LLC <br />Public Hearing <br /> <br />Mayor Gamec called the public hearing to order at 7:18 p.m. <br /> <br />Presentation <br /> <br />F. conomic Development Consultant Mulrooney explained recently a development agreement <br />w/th Dalager Properties, LLC has been negotiated with City staff. The project includes the <br />construction of.a 40,000 square foot office/warehouse/manufacturing building in the fall of 2005. <br />Thc building will be k)cated at the southeast comer of Bunker Lake Boulevard and Sunwood <br />Drive within Sunfish Lake Business Park. Harber Industries, who will be occupying the <br />building, currently has 27 full-time employees. It is anticipated that the project will create at last <br />nine new jobs paying a wage of at least $14.00 per hour in a two-year per/od. The County <br />Assessor has established an assessed taxable market value of approximately $2,200,000 for the <br />project, it is anticipated that the 'project will generate $72,000 annually in taxes and <br />approximately $43,250 annually in tax capacity. The estimated tax increment to be generated is <br />approximately $24,000 per year toward the TIF District, which would be used to assist the City <br />with its payment for public improvements associated with Sunfish Lake Business Park. <br /> <br />Citizen Input <br /> <br />'['here was none. <br /> <br />Motion by Councilmember Pearson, seconded by Councilmember Cook, to close the public <br />hearing. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Pearson, Cook, Elvig, Jeffrey, <br />Olson, and Strommen. <br /> <br />The public hearing was closed at 7:22 p.m. <br /> <br />City Council / September 13, 2005 <br /> Page 7 of 33 <br /> <br />P51 <br /> <br /> <br />