1997-05-20 PC Agenda Packet
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PLANNING & ZONING CXHtISSION
May 20, 1997
6: 45 PH
6: 45 PM 1. CALL -ro ORDER/ROLL CALL/ADOP" AGENDA
(Chair/Secretary/~ssian)
6:46 PM 2. HEW BUSIRESS
a. RESOLUTION FINDING THE TAX INCREMENT FINANCING
PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.
7 AND THE MODIFICATION TO THE DEVELOPMENT
PROGRAM FOR DEVELOPMENT DISTRICT NO. 1
CONSISTENT WITH THE PLANS FOR DEVELOPMENT OF
THE CITY OF ALBERTVILLE
b. RESOLUTION FINDING THE TAX INCREMENT FINANCING
PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.
8 AND THE MODIFICATION TO THE DEVELOPMENT
PROGRAM FOR DEVELOPMENT DISTRICT NO. 1
CONSISTENT WITH THE PLANS FOR DEVELOPMENT OF
THE CITY OF ALBERTVILLE
7:00 PM 3.
ADJOURRHEIft' (~ssian)
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PLARRIRO & ZORIRG COHHISSIOII
Mar 20, 1997
Albertville City Ball
5:45 PM
PRESENT: Chair Vetsch, Commissioners Carolyn Bauer, Jim Brown,
Dan Robertus, Zoning Administrator Garrison Hale, and City Attorney
Mike Couri
Chair Vetsch convened the special meeting at 5: 46 PM to
consider Tax Increment Financing Projects for Senior Housing and
Vetsch Custom Cabinets.
City Attorney Couri explained that there are two resolutions
that the Commission needs to consider that would confirm that the
projects are consistent with the city's Comprehensive Plan.
Attorney Couri explained how tax increment financing works.
He also informed the Commission that both projects would not be
possible "but for" tax increment financing assistance.
The first project "for rent" senior housing requires tax
increments to allow the developer to offer low to moderate rents to
seniors 55 years or older. Without the TIF assistance, the rents
would increase and would not be affordable to many seniors.
Mike Couri presented the second project to develop a cabinet
company on a site that has soil corrections of $40,000 or more.
Without TIF assistance, the project is too costly and would not be
completed. Another example of "but for".
Questions by the Commissioners
specifications of financials, age for
covenants and the like.
had to do
seniors,
wi th the
restrictive
Discussion was held by City Attorney Couri and Chair Vetsch
that neither a legal interest in Vetsch Custom Cabinets, nor a
financial benefit was present.
Chair Vetsch left the meeting at 5:54 PM.
Moved by Bauer, supported by Robertus, to adopt RESOLUTION
'PC-TIF'l {TIF 17} and RESOLUTION 'PC-TIF'2 {TIF '8} wi th a
recommendation to the City Council. All voted aye.
Chair Vetsch returned to the meeting at 5:57 PM.
Moved by Bauer, supported by Vetsch, to adjourn the meeting at
5:58 PM. All voted aye.
D~US yets~
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Garrison Hale, Zoning Admin.