City Council Minutes 12-19-1985 SpecialMINUTES
SPECIAL MEETING - MONTICELLO CITY COUNCIL
December 19, 1985 - 7:45 A.M.
A special Council meeting of the Monticello City Council was duly
held at 7:45 A.M., December 19, 1985, in the City Hall. The purpose
of the meeting was to consider a resolution of final approval
for the issuance of Industrial Revenue Bonds for the project known
as the Raindance Properties/Maus Foods Development Project. Members
present were: Arve Grimsmo, Fran Fair, Bill Fair, Jack Maxwell,
Dan Blonigen. Members absent: none.
The Mayor called the special meeting to order. City Administrator
Eidem briefed the Council members on the status of the project.
He noted that the original request amount of $1,500,000.00 had
been reduced to $1,075,000.00. He also advised them that there
were title problems developing with the lands in question and
that these matters were being addressed by the title insurance
company and the attorneys. Lastly, he noted that the closing
for the IRB sale was tentatively scheduled for 9:30 a.m. at Holmes
& Graven's offices in Minneapolis.
The Mayor asked if there were any questions on the project. There
being no questions, the Mayor asked for action. Councilmember
Fair moved the adoption of the following resolution:
See Resolution 1985 #34. The motion was duly seconded by Councilmember
Maxwell. The Mayor asked if there was any discussion. Councilmember
Blonigen stated that he did not wish to debate the project anymore,
but did wish to go on record as being opposed to the use of Tax
Increment Financing and IRB's for this project. He stated that
in his opinion, assisting these developers was inappropriate use
of these financing tools, and that future use of these tools should
be directed toward the small businessman who is faced with financial
difficulty. He indicated in his opinion that the developer and
the main tenant were financially sound enough to have done the
project on their own and would not have needed financial assistance.
The Mayor countered saying that he felt the use of the financial
incentives was appropriate to develop substandard lands. There
being no other discussion, the Mayor called for the vote. Voting
in favor of the motion to adopt the final resolution: Grimsmo,
Fran Fair, Bill Fair, Maxwell, Blonigen. Voting in opposition:
None.
There being no further business allowed on the special meeting
agenda, the Mayor adjourned the meeting.
91 Vk,
Thomas A. Eidem
City Administrator