City Council Minutes 12-19-1985
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MI TES
SPECIAL MEETING - M NTICELLO CITY COUNCIL
December 19, 1985 - 7:45 A.M.
A special Council meeting of the
held at 7:45 A.M., December 19, 1
of the meeting was to consider a
for the issuance of Industrial Re
as the Raindance properties/Maus
present were: Arve Grimsmo, Fran
Dan Blonigen. Members absent: n
onticello City Council was duly
85, in the City Hall. The purpose
esolution of final approval
enue Bonds for the project known
oods Development project. Members
Fair, Bill Fair, Jack Maxwell,
new
The Mayor called the special meet ng to order. City Administrator
Eidem briefed the Council members on the status of the project.
He noted that the original reques amount of $1,500,000.00 had
been reduced to $1,075,000.00. H also advised them that there
were title problems developing wi h the lands in question and
that these matters were being add essed by the title insurance
company and the attorneys. Lastl, he noted that the closing
for the IRS sale was tentatively cheduled for 9:30 a.m. at Holmes
& Graven's offices in MinneapOliS.
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The Mayor asked if there were an
being no questions, the Mayor as
Fair moved the adoption of the f
See Resolution 1985 #34. The mo
Maxwell. The Mayor asked if the
Blonigen stated that he did not
but did wish to go on record as
Increment Financing and IRS's fo
in his opinion, assisting these
of these financing tools, and th
be directed toward the small bus
difficulty. He indicated in his
the main tenant were financially
project on their own and would n
The Mayor countered saying that
incentives was appropriate to de
being no other discussion, the M
in favor of the motion to adopt
Fran Fair, Bill Fair, Maxwell, B
None.
There being no further business
agenda, the Mayor adjourned the
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Thomas A. Eidem
City Administrator
questions on the project. There
ed for action. Councilmember
llowing resolution:
ion was duly seconded by Councilmember
e was any discussion. Councilmember
ish to debate the project anymore,
eing opposed to the use of Tax
this project. He stated that
evelopers was inappropriate use
t future use of these tools should
nessman who is faced with financial
opinion that the developer and
sound enough to have done the
t have needed financial assistance.
e felt the use of the financial
elop substandard lands. There
yor called for the vote. Voting
he final resolution: Grimsmo,
onigen. Voting in opposition:
llowed on the special meeting
eeting.