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<br />. <br /> <br />. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Jeffrey, Elvig, Dehen, Look, <br />Olson, and Strommen. Voting No: None. <br /> <br />Ca~e #2: <br /> <br />Pnblic Hearing: Establishment of Tax Increment Financing District No. 12 <br />and Approving it~ Financing Plan <br /> <br />Mayor Game" closed the regnlar portion of the City Conncil meeting at 7:21 p.m. in order to <br />conduct a public hearing. <br /> <br />Public Bearin!! <br /> <br />Mayor Gamec called the pnblic hearing to order at 7:21 p.m. <br /> <br />Presentation <br /> <br />Economic Development Coordinator Sullivan stated staff has been working with Jeff Johnson of <br />Anoka Connty Community Action Program (ACCAP) to develop a $4,000,000 housing project <br />in ~y Town Center. The project would coJ,lSist of a five story building with retail on the <br />fust floor and housing" above it The proposed TIP District is a Housing District with a statutory <br />duration of 25 years. The City reserves the right to decertify the district early If all outstanding <br />obligations are satisfied ~ooner. The project will utilize pay.as.you.go TIP financing to fund TIP <br />eligible expenses rela~ed to the project and expended by the developer and the City. Proposed <br />uses for the TIP funds include: land acquisition, site improvements, a skyway, a green roof and <br />the construction costs of the building. Mr. Sullivan indicated the Ramsey Planning Commis~ion <br />adopted a resolution on January 4, 2007 stating that TIP District No. 12 was consistent with the <br />City Comprehensive Plan. Staff met with the Anoka Connty Board to discuss this project on <br />Jannary 23, 2007. <br /> <br />Citizen Inout <br /> <br />There was none. <br /> <br />Motion by Councilmember Strommen, seconded by Councilmember Olson, to close the public <br />hearing. <br /> <br />Motion carried. Voting Yes: Mayor Gamec; Councilmembers Strommen, Olson, Dehen, Elvig, <br />Jeffrey, and Look. Voting No: None. <br /> <br />The public hearing was closed at 7:23 p.m. <br /> <br />Council Business <br /> <br />Mayor Gamec called the regnlar City Conncil meeting back to order at 7:23 p.m. <br /> <br />P69 <br />