Laserfiche WebLink
ARDEN HILLS SPECIAL CITY COUNCIL – DECEMBER 16, 2019 2 <br /> <br />execution of all necessary documents contained therein. The motion carried <br />unanimously (5-0). <br /> <br />3. PULLED CONSENT ITEMS <br /> <br />None. <br /> <br />4. PUBLIC HEARINGS <br /> <br />A. Establishment of TIF District No. 5 (TCAAP), Modification to Development <br />District No. 1 and Interfund Loan <br /> <br />Stacie Kvilvang, Ehlers & Associates, requested the Council consider the establishment of TIF <br />District No. 5. She discussed how TIF Districts were used as a financing tool. She reviewed the <br />location of the proposed TIF District and noted this land would be re-platted in the future. She <br />reported this would be a redevelopment TIF district which provides the City with greater <br />flexibility. It was noted the boundaries of Development District No. 1 were being expanded to be <br />coterminous with the City boundaries. She explained that if development began in 2021, then the <br />first TIF would begin to be collected in 2023. <br /> <br />Councilmember Holden asked what was meant by the term “decertify”. <br /> <br />Ms. Kvilvang explained to decertify a TIF District would mean that the district was no longer <br />receiving tax increment and it was over. <br /> <br />Councilmember Holmes questioned what TIF districts the City had at this time. <br /> <br />Ms. Kvilvang discussed the two active TIF districts the City had in place at this time. <br /> <br />Councilmember Holmes stated she was concerned about the $12 million figure that was being <br />proposed for affordable housing. She reported the Council has not designated any consideration <br />for affordable housing. She asked if this number should be moved to another category. <br /> <br />Ms. Kvilvang reported this was a plug number and could be adjusted in the future. She explained <br />the Council was not obligated to provide affordable housing with this figure. <br /> <br />Councilmember Holden indicated if the Council were to leave this number in place, people may <br />assume the City was setting aside $12 million for affordable housing. She stated she did not like <br />the perception this would give to the public. She recommended the line item be renamed housing <br />instead of affordable housing. <br /> <br />Ms. Kvilvang reported the numbers and categories within the TIF plan were in accordance with <br />State Auditor requirements. She commented if the Council wanted to adjust the numbers, this <br />could be done. <br /> <br />Councilmember Holden asked where the $96 million budget comes from. <br />