Laserfiche WebLink
of the Anoka County Delegation at State Office Building, St. Paul, Mn <br />55155. <br /> <br />Mr. Larsen noted that both caucuses agree that industrial/commercial <br />property taxes have risen faster than any other classification and are in <br />need of reform. <br /> <br />Chairman Greenberg noted that high property taxes discourage quality <br />con~nercial/industrial facilities. <br /> <br />Consensus was to approve the agenda as submitted with Approval of Economic <br />Develol~nent Commission Meeting Minutes and Case #1 Subco~m~ittee Reports to <br />be addressed as the last order of business. <br /> <br />NOTE CITY COUNCIL MEETING MINUTES <br /> <br />The Cormmission noted the following: <br /> <br />1. City Council special meeting minutes dated January 11, 1988. <br /> <br />2. City Council regular meeting minutes dated January 12, 1988. <br /> <br />3. City Council special meeting minutes dated January 19, 1988. <br /> <br />4. City Council regular meeting minutes dated January 26, 1988. <br /> <br />C(IMMISSION BUSINESS (CONTINUED) <br /> <br />Case~2: Requ_est For Ta~ Increment Financfna Part~cipatfon By City: <br /> Case Of Mr. Rick Foster And Mr. George Car]son: <br /> <br />Mr. Lyle McLaughlin and Mr. George Carlson were present to review their <br />proposal to construct an apartment building south of the Food 'n' Fuel with <br />some tax increment financing assistance. <br /> <br />Mr. McLaughlin noted that the subject property is within DNR's jurisdiction <br />and because of that the density was decreased from 56 to 32 units per acre. <br />with the cost of improvements and the reduced density, the tax increment <br />financing is necessary to provide Mr. Carlson with a land write down so <br />that the project is economically feasible. <br /> <br />Motion by Commissioner Fults and seconded by Commissioner Ippel, for <br />discussion, to reco~m~nd that City Council approve Mr. Rick Foster and Mr. <br />George Carlson's request for city participation in the proposed apartment <br />project. <br /> <br />Further Discussion: Commissioner Ippel expressed concern that the <br />Council's policy regarding tax increment financing does not intend for the <br />funds tobe used for land write-downs. Mr. McLaugblinstatedthatthe land <br />write-down is necessary in order for Mr. Carlson's project to be <br />competitive with other apartment projects. Commissioner Gorecki noted that <br />Economic Develol~nent Commission/February 10,1988 <br /> <br />Page 2 of 4 <br /> <br /> <br />