Laserfiche WebLink
<br /> ------ <br /> Arden Hills Council 12 March 29, 1993 . <br /> REVIEW TIF INFORMATION <br /> FOR "COTTAGES LIFESTYLES" <br /> Administrator Person distributed to Council documents and <br /> information provided by financial consultants, Ehlers and <br /> Associates, with regard to Tax Increment Financing (TIF) <br /> arrangements being considered for John Arkell's "The <br /> Cottages" development. The handouts included: <br /> - A Preliminary Draft of the Modified Development Program <br /> for Development District No. 1 Including Tax Increment <br /> Financing plans for Tax Increment Financing Districts <br /> No. 1 - No, 2 (approved by the City Council June 25, <br /> 1989) and Tax Increment Financing District No. 3 (under <br /> consideration) <br /> - A Preliminary Draft of Tax Increment Financing Plan for <br /> Tax Increment Financing District No, 3 ("Cottages <br /> Lifestyles") <br /> - A Tax Increment Financing Procedure <br /> Referring to the Tax Increment Financing Procedure outline, <br /> Person reported that the step of calling a public hearing . <br /> has been accomplished, the hearing set for April 26, 1993. <br /> She further reported that the step of delivering fiscal and <br /> economic implications material to Ramsey County and Mounds <br /> View School District thirty days prior to the public hearing <br /> has also been accomplished. She added that the next step is <br /> for Council to review the preliminary draft documents in <br /> preparation for the April 26 public hearing. She drew <br /> attention to specific pieces of information within the <br /> drafts. <br /> Mayor Sather commented that since the preliminary draft <br /> documents were just received and Council has not had the <br /> opportunity to review theml it would be prudent to simply <br /> acknowledge receipt of the drafts and arrange to discuss the <br /> documents either at the next Counci 1 worksession or regular <br /> Council meeting. <br /> Councilmember Malone asked if ,John Arkell is willing t.o <br /> accept a I eve I of property valuation to assure a certain <br /> 1 eve 1 of property tax on the development. Person stated <br /> that matter would be addressed within the Development <br /> Agreement, a draft of whi ch will be provided to Council <br /> pt"ior to the April 26 hearir~g. <br /> Malone asked if there is any further action requit"ed of <br /> Council pr-i:)!:" to the Ap t"i I 26 hearing, Person answered nOI . <br /> but suggested t.hat Council appoint the 1 ar..:; firm of Dorsey & <br /> WhitnEY as legal cottnse 1 for this TIF mat tet., <br />