Laserfiche WebLink
<br />he has no problan vdththe amount of the request but finds property write- <br />down a confusing issue. Ms. Norris noted that the request most likely <br />meets the City1s 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 Hr. George <br />Carlson1s request for City participation in the proposed apartment project <br />is subject to the Economic Developnent Conunission receiving reports from <br />City Staff and Bond Counsel by March 1 regarding how other communities <br />process property write-downs, how Ramsey should handle property write-downs <br />and an incranent revenue forecast. . <br /> <br />Amendment carried. voting ~es: Chairman Greenberg, Commissioners Ippel, <br />Wagner, Fults, Hardin, Gorecki, Kurak and Vevea. Voting No: None. <br />Absent: Commissioner ~1uller. <br /> <br />Motion carried. Voting Yes: Chairman Greenberg, Commissioners Ippel, <br />Wagner, Fults, Hardin, Gorecki, Kurak and Vevea. Voting No: None. <br />Absent: Commissioner ~ID.ller. <br /> <br />Commission 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 Business Surveys: <br /> <br />Commissioner Ippel stated that during the business survey process, it has <br />become apparent that certain follow-up ~ction is necessary. <br /> <br />~btion by Commissioner Ippel and seconded by Commissioner Kurak directing <br />the Economic Development Cornmisson 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 fran the business being <br />surveyed to pursue any issue of need revealed during the survey. <br />Commissioner Kurak dismissed himself fram the meeting at 9:05 a.m. <br /> <br />l'jQtion carried. Voting Yes: Chairman Greenberg, Commissioners Hardin, <br />Ippel, Wagner, Fults, Veveal and Gorecki. Voting No: None. Absent: <br />Commissioners 11uller and Kurak. <br /> <br />CCM1ISSION INPUl' <br /> <br />1 <br />.f <br /> <br />Chairman Greenberg stated that there should be a resolution prepared and <br />ready for adoption at the Narch 1 special neeting and commissioners should <br />watch for news releases regarding tax reform proposals from the Governor, <br />Senate and House. <br />Econo.mic Development Cornrnission/February 10,1988 <br /> <br />Page 3 of 4 <br /> <br />)~ <br />