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1988. --') 4. City Council special meeting minutes dated May 31.1988. 5. City Council and Park and Recreation Commission spec ial. j oint meeting minutes dated June 9. 1988. 6. City Council regular meeting minutes dated June 14. 1988. 7. City Council special meeting minutes dated June 21. 1988. Commissioner Ippel inquired as to the status of the proposed reloca tion of the Burlington Northern railroad tracks. Ms. Norris replied that on July 12. City Council requested that staff contact representatives of Mn/DOT to determine if there is interest in pursuing the relocation of Burlington Northern railroad tracks. Some councilmembers feel it is not feasible without funding participation from other agencies and other counci1members feel it is wise to at least preserve the corridor in the event the relocation project becomes a reality. Commissioner Ippel stated that the need to relocate the tracks would be negated and a petter use of the funds would be to get a Mississippi River bridge crossing.. construct an overpass over Hwy. :UI0 and the railroad tracks and reroute Cty. Rd. :U83. COMMISSION BUSINESS .) Case #1: Request For City Participation (Tax Increment Financin~) In Project; Case Of Mr. Todd Elofson: Todd and Randy Elofson and Dave Adkins from Stiglich Construction were present requesting approval of tax increment participation in their proposal to construct a commercial/retail facility south of Hwy. :UlO and west of Sunfish Lake Blvd. The Elofsons stated that the project hinges on the follows: 1) Extension of Sunfish across Hwy. :UlO and improvements to Front Street; 2) City participation; 3) Signing anchor tennants. Ms. Norris itemized the funds needed for site grading and filling. irrigation and sprinklers. security lighting, drainage and curbs. Ms. Norris noted that preliminary projections indicate their will be sufficient increment generated to support the city's participation. Motion by Commissioner Ippel and seconded by Commissioner Fults to recommend that City Council approve the request by Todd Elofson for City participation in his proposed project contingent upon it's compliance with the City's tax increment financing guidelines. Motion carried. Voting Yes: Chairman Greenberg, Commissioners Fults. hardin, Wagner and Ippel. Voting No: None. Absent: Commissioners Gorecki, Kurak. Muller and Vevea. . '~ -} Economic Development Commission/July 13, 1988 Page 2 of 5 ?