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City Council Minutes <br /> August 7, 2007 <br /> Page 4 of 12 <br /> ---------------------------- <br /> manufacturing jobs and commit to the creation of 3 new jobs at $10.50 per <br /> hour. <br /> Sid Inman from Ehlers reviewed the tax increment details. He indicated <br /> that the School District and Crow Wing County have waived the 30 day <br /> review period. <br /> Sid noted the following: <br /> • It is proposed to establish economic development Tax Incrementing <br /> Financing District No. 1-13 and the adoption of a Tax Increment <br /> Financing Plan <br /> • A public hearing will be held on the modification to the <br /> Development Program for Development District No. 1. He indicated <br /> that it is proposed to expand the boundaries of Development <br /> District No. 1 to include any property previously annexed in to the <br /> City. Sid noted that the Planning Commission reviewed the <br /> proposed modification. He indicated that if the Planning <br /> Commission wants to further review the boundaries, it can do so at <br /> any time. <br /> • The City's existing Business Subsidy Policy and Criteria plan have <br /> been modified to meet all current statutes <br /> • It is proposed to award a business subsidy to Lonesome Cottage <br /> Furniture. <br /> Sid Inman reviewed the Business Subsidy Agreement. He also noted that <br /> the "But For" test has been completed and he recommends that it is <br /> reasonable for the City to provide assistance in order to make the <br /> proposed project move forward. <br /> Mayor Malecha opened the public hearings on the modification to the <br /> boundaries of the project area and the establishment of a TIF District and <br /> on the modified business subsidy policy. <br /> Tommy Woog, Planning Commission Chair stated that the Planning <br /> Commission would like to review the boundaries of the development <br /> district in the future. Sid Inman indicated that any portion of the City can <br /> be withdrawn from the district at any time. <br /> Tom Adams, Planning Commission Member, had a question regarding the <br /> affect on tax abatement with the entire City being included in the <br /> development district. Sid Inman indicated that there would be no affect on <br /> the ability for someone to request tax abatement. <br />