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d~stnct. It falsq creates a single document that can be referenced by external sources that <br />illustrates W~hatidollars are being spent on for each specific district. Secondly, the new <br />documents c~eady identify parcels and projects that may be acquired for development purposes. <br />This is impCrtaht because parcels originally identified in early TIF plans have since been <br />subdivided a~d laave been given new Tax ID numbers. Thirdly, this amendment will allow TIF <br />District No. 6 ahd TIF District No. 8 to recapture lost tax increment due to the property tax <br />reform of 20.~ 1. <br /> <br />Citizen Inpdt <br /> <br />There was none. <br /> <br />Motion by C,bunCilmember Cook, seconded by Councilmember Zimmerman, to close the public <br />hearing. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Cook, Zimmerman, Kurak, <br />Pearson, and!Str0mmen. Voting No: None. <br /> <br />The public h~aring closed at 7:09 p.m. <br /> <br />Council Action <br /> <br />The regular ~eeting of the City Council was called back to order at 7:09 p.m. <br /> <br />Motion by ~CouBcilmember Zimmerman, seconded by Councilmember Pearson, to adopt <br />Resolution #03-(Y~i-157 adopting TIF Plan Amendments for TIF District No. 1, 2, 4, 6 and 8. <br /> ~ , <br />Motion carri~,d. ~Voting Yes: Mayor Gamec, and Councilmembers Zimmerman, Pearson, Cook, <br />Kurak, and $~rommen. Voting No: None. <br /> <br />Case #4: <br /> <br />Ptiblic Hearing: Application to the Minnesota Investment Fund to Provide <br />Financing for Panther Precision Machine, Inc. <br /> <br />Mayor Game~ called the public hearing to order at 7:12 p.m. <br /> <br />Presentation <br /> <br />Economic DevelOpment Consultant Mulrooney stated that one of the City of Ramsey's successes <br />this year has,bean the attraction of Panther Prems~on Machine, Inc. to the community. The <br />company is ih th.e process of constructing a 30,000 square foot manufactunng bmld~ng in the <br />City's Sunfisl~ BUsiness Park. Panther Precision Machine, Inc. is a precision machining company <br />that has beenfin I~usiness since February 1998. Panther Precision will offer job opportunities at <br />significant w.~ge levels while at the same time improving the City's commercial/industrial tax <br />base. The company started as a three-person team and currently has 14 full-time employees and <br />one part-time fem@loyee. It was anticipated that the company would create a minimum of seven <br /> <br />City Council/June 24, 2003 <br /> Page 6 of 37 <br /> <br /> <br />