08-07-85 Development Comm Minutes0
AUGUST 7, 1985 FINANCE/CITY DEVELOPMENT 2:00 PM.
Mayor McDowell, Councilmen Ruiz, Saverud, Palmer, Manning, Springer and
Nystul, Clerk/Treasurer Halver, C.D.D. Gallagher, Bob Ehlers and Dale Pugh
of Dain Bosworth, Hank Good, Paul Wachholz, Bob Gebhardt, Mike Fraser and
Roger Hopkins.
Finance Chairman Ruiz called the meeting to order and stated the primary
purpose of the meeting was to find funding for the Fifth Ave West projects.
Bob Ehlers discussed financing alternatives and recommended a fifteen to ,
twenty year issue with a relatively early call, like 7 years.
Councilman Saverud pointed out the district is a 100 block core of the city
and not just the downtown business district. There are a lot of
infrastructure projects that could be done through tax increment.
Councilman Palmer moved the recommendation to the council is to provide
• $2,000,000 for various projects through Tax Increment Financing. Councilman
Saverud seconded.
Councilman Ruiz asked Don Halver to work with City Attorney Neier and Bob
Ehlers to work out the language of the resolution.