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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 /> 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 /> 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 of the City. He stated he reviewed the <br /> business subsidy policy which is in a general form and meets Statute requirements. <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 /> Motion by Council Member Sweeney, seconded by Council Member Nelson <br /> to approve Resolution 00 -09 regarding the Business Subsidy Policy. All in <br /> favor. Motion carried unanimously. <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 /> Mr. Tuomi stated they would like to more forward immediately. <br /> Motion by Council Member Broussard Vickers, seconded by Council <br /> Member Travis to approve Resolution 00 -10 authorizing Resolution. All in <br /> favor. Motion carried unanimously. <br /> Motion by Council Member Nelson, seconded by Council Member Broussard <br /> Vickers to reaffirm approval of contract for private development between <br /> Centerville and Essex Holdings LLC along with any ancillary documents <br /> being the investment letter and promissory note. All in favor. Motion <br /> carried unanimously. <br /> Mr. Hoeft was excused from the meeting at 7:07 p.m. <br /> Agreement for Residential Recycling Program <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 /> Page 7 of 12 <br />