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City of Centerville <br />Council Meeting Minutes <br />August 22, 2007 <br />City Administrator Larson explained that Council must decided whether to support the <br />business owner with TIF funds for this project. <br /> <br />Discussion ensued. <br /> <br />Councilmember Paar stated that he felt the property is overpriced and therefore, could not <br />support this project with TIF funding. He stated that he would thrilled to have this <br />business located in Centerville <br /> <br />Councilmember Lee stated that he would be in favor of this project if it would work out. <br />He referred to other TIF districts not approved due to the price of the property. He believes <br />that this is a similar situation. <br /> <br />Mr. Harried stated that they negotiated for about six months with the landowner and <br />negotiated $100,000 reduction in the purchase price for the property. He commented that <br />Centerville is where he would like to build. He stated that he would be more than happy to <br />sign an agreement to pay back the entire TIF if he were ever to sell the business. He stated <br />that this is his life and his children’s legacy and he had no intention of selling. <br /> <br />Councilmember Lakso stated that she did not see a TIF district at this time due to poor <br />timing. She stated that she hoped creative options could be found, as she did not want to <br />set precedence. <br /> <br />Councilmember Broussard commented that there are other properties that might require <br />more assistance in terms of mitigation to make them buildable sites. She agreed with the <br />opinions of fellow Council members. <br /> <br />Mayor Capra agreed with Councilmember Lakso and commented that she would like to <br />see a guarantee from the company that it would remain in Centerville. She commented the <br />City had property for sale also and several financial unknowns exist at this time. She <br />stated that she is open to work with Mr. Harried. <br /> <br />Mr. Harried questioned if the Council would be open to a pay as you go TIF. He stated <br />that he has exhausted several other avenues for funding. <br /> <br />Councilmember Lee stated that Council is open to discussion on options. <br /> <br />Discussion ensued. <br /> <br />Mr. Meyer stated that he met with the Minnesota Investment Fund concerning a low <br />interest loan for Mr. Harried and explained how this would work. He commented Mr. <br />Harried might qualify for a $160,000 loan through the program. He suggested that Council <br />consider passing the resolution to hold a public hearing. <br /> <br />Page 6 of 8 <br />