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<br />adopted in order to continue to offer tax increment financing and tax abatements as <br />economic development tools. He stated this policy is being suggested by Ehlers <br />and Associates. <br /> <br />Mr. March noted the attendance of Rich Tuomi, Odyssey Lures, and reviewed his <br />proposed project to construct a building. In 1997, a development contract for a <br />pay-as-you-go TIF project was signed for Odyssey Lures but not executed by the <br />developer. However, they now wish to execute the contract. <br /> <br />Mr. Hoeft stated he reviewed the resolution and cover letter and found no issues. <br />He stated he has not reviewed the updated development contract which is being <br />reviewed by Kennedy & Graven on behalf ofthe City. He stated he reviewed the <br />business subsidy policy which is in a general form and meets Statute requirements. <br /> <br />Mr. Tuomi stated he talked with Shelly Aldrich regarding new computations so <br />once those final numbers are known she will be advised and the contract can then <br />be completed for review. He stated he has worked on this project for about two <br />years, the bids have been received, plans reviewed, and they are set to go once this <br />final piece is completed. <br /> <br />Motion by Council Member Sweeney, seconded by Council Member Nelson <br />to approve Resolution 00-09 re2ardin2 the Business Subsidy Policy. All in <br />favor. Motion carried unanimoush'. <br /> <br />Mr. March stated the attorney indicated since the dollar amounts are not being <br />changed, only the dates, a new public hearing is not required to be held. <br /> <br />Mr. Tuomi stated they would like to more forward immediately. <br /> <br />Motion by Council Member Broussard Vickers, seconded by Council <br />Member Travis to approve Resolution 00-10 authorizin2 Resolution. All in <br />favor. Motion carried unanimously. <br /> <br />Motion bv Council Member Nelson, seconded by Council Member Broussard <br />Vickers to reaffirm approval of cont....act for private development between <br />Centerville and Essex Holdin2s LLC alon2 with any ancillary documents <br />bein2 the investment letter and promissory note. All in favor. Motion <br />carried unanimoush'. <br /> <br />Mr. Hoeft was excused from the meeting at 7:07 p.rn. <br /> <br />Agreement for Residential Recycling Program <br /> <br />Mr. March presented the agreement with Anoka County which requires Centerville <br />to offer residential recycling in order to be eligible to acquire SCORE funding from <br />the County. <br /> <br />Page 7 of 12 <br />