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No action ~as !necessary. Staff put together the information and forwarded to the impacted <br />property owtters;. <br /> <br />Case #16: E~ecution of Business Subsidy Agreement with L & D Properties, LLC and <br /> I[~roduetion of an Ordinance Authorizing the Sale of the South 167 Feet of <br /> I LOts 2 and 2A, Block 1, West Radium Business Center First Addition, Anoka <br /> I COunty, Minnesota <br /> [ <br />City Attome~ G6odrich stated that recently a development agreement with L & D Properties (dba <br />Precise Metalcr4ft) has been negotiated with City staff. The project includes the construction of <br />a 10,500 sqt~arel foot office/warehoUse building in the summer of 2003. The building will be <br />located in W.[est Radium Business Center First Addition south of the H & P properties building. <br />It was anticipat6:l that the project will create at least three new jobs paying a wage of at least <br />$12.00 per hi)ur !in a two-year period. The County Assessor has established an assessed taxable <br />market valu~ ofiapproximately $550,000 for the project. It is anticipated that the project will <br />generate $111800 annually in taxes and approximately $10,750 annually in tax capacity. The tax <br />increment g4nergted per year will be approximately $9,300 per year toward the TIF District, <br />whmh woul~be ~used to assist the City with its payment for public improvements. <br /> <br />Motion by C~uneilmember Kurak, seconded by Councilmember Pearson, to authorize business <br />subsidy agre~.m '°~t with L & D Properties, LLC and authorize execution of a development <br />agreement With I~ & D Properties, LLC, contingent upon review by the City Attorney. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Kurak, Pearson, Cook, Elvig, <br />and Zimmem~ an.I Voting No: None. <br /> <br />City Attorne~ Gd. odrich stated that the City is in the process of drafting a TW agreement with L <br />& D Properties, LLC. As a part of the transaction, the City is to convey title to the South 167 <br />feet of Lots i2 ~nd 2A, Block 1, West Radium Business Center First Addition to L & D <br />Properties, LLc. ! In order to complete this transaction, a sale ordinance needs to be introduced <br />and adopted ~uthgrizing the sale. <br /> <br />Motion by ¢ourtcilmember Kurak, seconded by Councilmember Pearson, to introduce an <br />ordinance auiho ~rizing the sale of South 167 feet of Lots 2 and 2A, Block 1, West Radium <br />Business Cen~er ~irst Addition. <br /> <br />Motion came~d. Voting Yes: Mayor Gamec, and Councilmembers Kurak, Pearson, Cook, Elvig, <br />and Zimmern~fin. !Voting No: None. <br />MAYOR AN~ 12OUNCIL INPUT <br /> <br />1) Planning ~2ommission Appointment <br />City AdminislxatOr Norman stated that during a joint work session, members of the City Council <br />discussed the Idea~ of drafting new language regarding the board and commission members. The <br />language wou~ldll have to do with the structure of the Planning Commission and introduce the <br /> <br />City Council/June 10, 2003 <br />Page 20 of 22 <br /> <br /> <br />