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---- --------- d "- DRAFT ARDEN HILLS CITY COUNCIL WORKSESSION - MAY 19. 1997 2 .- c. 1996 Informal Presentation. Audit Findings. Abdo. Abdo & Eick I City Accountant, Terrance Post, introduced Mr. Steve McDonald, of the independent I auditing firm, Abdo, Abdo & Eick. Mr. McDonald highlighted various aspects of the draft 1996 year-end audit results recently completed by their firm. A bench handout of their draft management letter was also presented for Council comment prior to formal I presentation for Council acceptance at the May 27, 1997 City Council meeting. Mr. Post called the Council' s attention to the excellent performance year reflected in the I Water and Sewer Funds, attributable to third quarter water sales, without which performance results would have reflected less positive results. Councilmember Malone commended the Finance Department on their excellent I management of City funds. d. Gatewav Business District (GBD). Feasibilitv Report I City Administrator Fritsinger presented the second draft of the Preliminary OBD Feasibility Report, which incorporated those revisions, refinements and corrections for I street and utility improvements as previously reviewed by Council and staff, increasing the total estimated project cost to $2,700,000. The final Feasibility Report is scheduled II for formal presentation at the May 27, 1997 City Council meeting. Mr. Fritsinger advised Councilmembers that the time line for the feasibility report and I related items was continually changing with pending property acquisitions, discussions with developers, and other contingencies, but that timely staging of events needed to be considered in the immediate future. I Various options were discussed, and staff was directed to contact the City of Shoreview regarding the level ofRarnsey County funding for amenities in the Lexington Avenue I area for their portion of the project. Those findings were to be referred to the Highway 96 Task Force for their consideration and further recommendation to the Council. Other considerations were whether or not the City would bid infrastructure improvements, or if - they would be included in the Welsh Companies' construction and development project. Chapter 429 issues, land acquisition, design and inspection considerations, Phase IV development, and CIl property tax rates were other discussion items. - Mr. Post provided a cautionary note regarding proposed property tax reforms, and the I dramatic affects those reforms would have on revenue forecasts. Mr. Post stated he would support Chapter 429 assessments, subject to tax increment financing supporting a portion of the debt load, with the developer paying remaining balances. I -. I