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<br />.' , <br /> <br />comprehensive plan amendment to the Metropolitan <br />Council. <br /> <br />22. That the final development plan be consistent with the <br />plans submitted to the City Council which includes the <br />revised independent living building with a total height <br />of 69 feet and 132 dwelling units. <br /> <br />4. Motion to approve a resolution vacating the frontage road <br />subject to maintaining a 20 foot easement for future light <br />rail transit purposes. <br /> <br />5. Motion to approve a preliminary plat with dedication of <br />necessary easements. <br /> <br />6. Motion to set June 28, 1993 as a public hearing for the final <br />plat and final PUD plan. <br /> <br />7. Motion to authorize staff to negotiate a development <br />agreement concerning the use of TIF funds which includes the <br />following: <br /> <br />a. That there be a pay-as-you-go deal with no up front <br />City funding. <br /> <br />b. That the developer will reimburse the city for any LGA <br />and HACA penalties. <br /> <br />c. That the property will remain taxable for a minimum of <br />forty (40) years. <br /> <br />d. That the length of tax increment assistance will not <br />exceed fifteen (15) years. <br /> <br />e. That the annual amount of funds paid to the developer <br />will not exceed $500,615. Any amount of tax increment <br />available over that amount will be retained by the City <br />for use of other eligible tax increment projects as <br />allowed by state statutes. <br /> <br />f. That the full taxable development will be complete by <br />October 15, 1995 to have full taxable value on January <br />1, 1996 for taxes payable in 1997. <br /> <br />g. That the development be constructed in accordance with <br />the approved final PUD plan. <br />