Item Coversheet

10.A.2.


Shakopee City Council
July 3, 2018

FROM:Michael Kerski, Director of Planning and Development
TO:Mayor and Council Members
Subject:
Setting a Public Hearing on a Tax Increment Financing Plan for District No. 21 and Modification for the Redevelopment Plan for the Minnesota River Valley Housing and Redevelopment Project No. 1 to Create a Soils Condition District
Policy/Action Requested:
Set public hearing
Recommendation:
Approve Resolution No. R2018-081 setting public hearing.
Discussion:

Shakopee Crossings has encountered poor soil conditions because of past dumping on the property and is not able to develop the property between the Home Depot and the Marcus Theaters.  They had a restaurant for that location but the soils conditions would not allow the property to be built given the economic impact because of the soil properties.

 

The property owner has completed site exploration and is working with the proper agencies for a site clean up but needs the TIF financing to assist with costs for cleanup.

Budget Impact:
ATTACHMENTS:
Description
Resolution