CC 09-22-1997 (3) - Laserfiche WebLink

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ARDEN HILLS SPECIAL COUNCIL MEETING - SEPTEMBER 22. 1997 10 . properties within the Gateway Business District. The preparation of the site (removal of foundation and pipes) will be the City's responsibility, Regarding the relocation of the ponds and the wetland issues, he suggested applying the costs to the assessments related to public improvements, and TIF could pay for the costs of the wetland, The City will be using TIF to make the project take place, by which the wetlands could be considered improvement of public property, which is allowable under TIF rules, TIle additional costs for the street elevations are approximately $180,000, which may also be able to be considered public improvements, This cost can be discussed further during the approval process for the development agreement. Mr. Fritsinger inquired if Council would approve of putting the additional $85,000 under the assessment agreement, and using TIF funds, Mayor Probst requested clarification that the 14th Street project costs were $180,000, Mr. Fritsinger stated that was correct Mayor Probst inquired if this anlount also included the wetland mitigation. Mr. Stonehouse stated it does not, nor does it include the acquisition price of the neighboring properties, Councilmember Malone requested clarification that $73,675 would be subtracted from the $323,385 purchase price, Mr. Fritsinger stated that was correct. . Councilmember Malone requested clarification that the City would be setting aside the costs of the wetland mitigation and the street improvements, and funneling the costs through TIF. Mr. Fritsinger stated that was correct Councilmember Malone inquired if the TIF stream was sufficient to cover these costs. Mr, Fritsinger stated it appears to be. Mayor Probst inquired regarding the amount ofthe outstanding balance on the Kern Milling site. Mr. Ringwald replied approximately $325,000, Mayor Probst inquired if the remaining $75,000 will be left on the books with no revenue stream, Mr, Fritsinger stated that was correct. Mayor Probst inquired if this cost would be paid through a different line item, Councilmember Malone noted that the Kern Milling site would receive between $30,000-40,000 ofTIF funds, and the City would cover the remaining costs in approximately two years. Councilmember Aplikowski requested clarification that the purchase price will be reduced to approximately $249,710. Mr. Ringwald stated that was correct. . Councilmember Malone inquired who will be removing the foundation, Mr. Fritsinger stated the bid was from a contractor employed by the developer. Mr. Ringwald added the City is attempting to receive a lower bid for this work,