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he has no probl~n with the amount of the request but finds property write- <br />down a confusing issue. Ms. Norris noted that the request most likely <br />meets the City's guidelines for tax increment financing. Commissioner <br />Fults noted that property write-down is a common use for tax increment <br />revenues in other cities. Commissioner Ippel stated reluctance to make a <br />recommendation prior to knowing the kind of revenue that would be <br />generated by the project and the inexperience with land write-downs in <br />Ramsey. <br /> <br />Amendment by Commissioner Ippel and seconded by Commissioner Fults to <br />indicate that the recommendation to approve Mr. Rick Foster and Mr. George <br />Carlson's request for City participation in the proposed apartment project <br />is subject to the Economic Develol~nent Commission receiving reports from <br />City Staff and Bond Counsel by March 1 regarding how other communities <br />process property write-downs, how P~msey should handle property write-downs <br />and an increment revenue forecast. <br /> <br />Amendment carried. Voting Yes: Chairman Greenberg, Commissioners Ippel, <br />Wagner, Fults, Hardin, Gerecki, Kurak and Vevea. Voting No: None. <br />Absent: Commissioner Muller. <br /> <br />Motion carried. Voting Yes: Chairman Greenberg, Commissioners Ippel, <br />Wagner, Fults, Hardin, Gorecki, Kurak and Vevea. Voting No: None. <br />Absent: Commissioner Muller. <br /> <br />Con~nission consensus was to meet March 1 at 7:00 p.m. at City Hall to <br />review reports from City Staff and Bond Counsel. <br /> <br />Case ~3.. Review Status Of Bus~ness Surveys: <br /> <br />Coranissioner Ippel stated that during the business survey process, it has <br />become apparent that certain follow-up action is necessary. <br /> <br />5~tion by Commissioner Ippel and seconded by Commissioner Kurak directing <br />the Economic Develol~nent Commisson Chairman and the Economic Development <br />Company President to meet with Ms. Norris to review business surveys in <br />order that issues requiring immediate action can be initiated. <br /> <br />Further Discussion: Ms. Norris noted that in order to maintain <br />confidentiality, the surveyor should seek approval fromthebusiness being <br />surveyed to pursue any issue of need revealed during the survey. <br />Commissioner Kurakdismissed himself from themeetingat 9:05 a.m. <br /> <br />Motion carried. Voting Yes: Chairman Greenberg, Commissioners Hardin, <br />Ippel, Wagner, Fults, Veveal and Gorecki. Voting No: None. Absent: <br />Commissioners Muller and Kurak. <br /> <br />Chairman Greenberg stated that there should be a resolution prepared and <br />ready for adoption at the P~rch 1 special meeting and commissioners should <br />watch for news releases regarding tax reform proposals from the Governor, <br />Senate and House. <br /> Economic Develounent Commission/February 10,1988 <br /> <br />Page 3 of 4 <br /> <br /> <br />