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City Council Minutes <br /> August 7, 2007 <br /> Page 5 of 12 <br /> ---------------------------- <br /> Curt Johnson — Business owner and Pequot Lakes School Board Member <br /> thanked the Council for its support in this project. <br /> Wendy Canniff questioned the average wage that Lonesome Cottage <br /> would be paying. Brandon Andersen answered $10 - $12 per hour plus <br /> benefits. <br /> There being no further comments, Mayor Malecha closed the public <br /> hearing. <br /> COUNCIL MEMBER ORASKOVICH MOVED TO ADOPT RESOLUTION <br /> 07-18 ADOPTING A MODIFICATION TO THE DEVELOPMENT <br /> PROGRAM FOR DEVELOPMENT DISTRICT NO. 1; AND <br /> ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1-13 <br /> THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN <br /> THEREFOR. COUNCIL MEMBER NAGEL SECONDED THE MOTION. <br /> MOTION CARRIED 5-0. <br /> COUNCIL MEMBER RYAN MOVED TO ADOPT RESOLUTION 07-19 <br /> ADOPTING A MODIFIED POLICY AND CRITERIA FOR GRANTING <br /> BUSINESS SUBSIDIES. COUNCIL MEMBER ORASKOVICH <br /> SECONDED THE MOTION. MOTION CARRIED 5-0. <br /> Sid Inman reviewed the terms of the Developer's Agreement. <br /> COUNCIL MEMBER NAGEL MOVED TO ADOPT RESOLUTION 07-20 <br /> AUTHORIZING AN INTERFUND LOAN FOR ADVANCE OF CERTAIN <br /> COSTS IN CONNECTION WITH TAX INCREMENT FINANCING <br /> DISTRICT NO. 1-13. COUNCIL MEMBER ORASKOVICH SECONDED <br /> THE MOTION. MOTION CARRIED 5-0. <br /> COUNCIL MEMBER ORASKOVICH MOVED TO ADOPT RESOLUTION <br /> 07-21 AUTHORIZING EXECUTION OF A DEVELOPMENT <br /> AGREEMENT AND PURCHASE AGREEMENT AND APPROVING THE <br /> FORMS OF A PROMISSORY NOTE AND GUARANTY. COUNCIL <br /> MEMBER RYAN SECONDED THE MOTION. MOTION CARRIED 5-0. <br /> 5.5. Discussion on Additional Research for Highway 371 Economic Impact— <br /> Chamber of Commerce <br /> Lisa Paxton and Ruth Ann Hanson from the Chamber of Commerce and <br /> `„� Cheryal Hills from Region Five were present for this item. Lisa Paxton <br />