Conshohocken Borough

BOROUGH OF CONSHOHOCKEN
SPECIAL MEETING

AUGUST 27, 2008

Meeting called to order by the President of Council Mrs. Sandra Caterbone. The Prayer of Council and The Pledge of Allegiance were said. Members of Council present at the meeting were Mr. Jason Salus, Mr. Paul McConnell, Mr. Tony Tucci, Mr. James Griffin, Mr. Robert Stokley and Mrs. Sandra Caterbone. Mr. Eddie Phips was excused from the meeting.

A discussion was held on the Tax Increment Financing.

Mr. Savona explained the Tax Increment Financing and the Ordinance.

A motion by Mr. Stokley to approve ORDINANCE 5-2008 AN ORDINANCE OF THE BOROUGH OF CONSHOHOCKEN, COUNTY OF MONTGOMERY, COMMONWEALTH OF PENNSYLVANIA, PROVIDING FOR THE CREATION OF THE SEVEN TOWER BRIDGE TAX INCREMENT FINANCING DISTRICT WITHIN THE BOROUGH OF CONSHOHOCKEN APPROVING A PROJECT PLAN FOR THE TAX INCREMENT FINANCING DISTRICT; ALLOCATING APPOPRIATE TAX INCREMENTS FROM THE POSITIVE REAL PROPERTY TAXES OF THE DISTRICT TO FUND THE PROJECT PLAN; REPEALLING ANY INCONSISTENT ORDINANCES OR PARTS OF ORDINANCES; AND PROVIDING FOR AN EFFECTIVE DATE.

Seconded by Mr. Tucci. A Roll Call Vote was taken. All members of Council voted in favor. Motion passed.

A motion by Mr. Salus to approve RESOLUTION 14-2008
RE:AMEND LAND DEVELOPMENT
For:SEVEN TOWER BRIDGE 110 WASHINGTON STREET, CONSHOHOCKEN, PENNSYLVANIA, 19428

Seconded by Mr. Tucci. All voted in favor. Motion passed.

A motion by Mr. Salus to send letter to the Montgomery County Redevelopment Authority if reference to the Conshohocken Revolving Loan Fund as follows:

On August 27, 2008 Council voted unanimously to recommend that the Redevelopment Authority approve the