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CCP 12-15-1997
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CCP 12-15-1997
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<br />I" . DRAFT <br /> ARDEN HILLS TRUTH-It::!- T AXA TION - DECEMBER 4. 1997 5 <br />I <br />I- Mayor Probst noted it should have no shortcterm effect. Longer term, there would be a positive <br /> effect because when the bonds are paid, the full tax collections percent will go to the School <br /> District and County. <br />I Roger Aiken, 4360 Ramline Avenue, inquired as to what the incremental amount would be. <br /> Mr. Post pointed out that number is speculative at this time, because it would be dependent upon <br /> many factors such as the market value of the property, the tax capacity, etc. The projections are <br />I currently $500,000, but that would be shared by all the jurisdictions, 15% of which would be <br /> Arden Hills. <br />I Mr. Fritsinger noted when it was decided to use TIF, the City projections were based on a class <br /> rate of 3.5%, so it was designed to minimize the risk to the City. <br />I Mr. Aiken expressed concern regarding the use ofTIF. Mr. Aiken noted perhaps there could be <br /> a return on investment for current residents, rather than to wait "down the road" when the <br />I Council and residents have changed. <br /> Mr. Aiken complimented the Staff and Council for all their hard work. He stated he did want to <br />I raise concern about the expense for the Gateway development. He wanted to know if the <br /> residents would see a return for this investment. <br />Ie Mayor Probst indicated he was unsure of Mr. Aiken's questioning. He noted the fundamental <br /> logic was, once public improvements were in, it would set up the City for the remaining land so <br /> projects that come on board would have reduced additional costs for streets, etc. to the City. <br />I Mr. Aiken continued to express concern regarding the annual increase of City property levies, <br />I when the City didn't seem to need it, and perhaps should have given the citizens a break. <br /> Although he did note that ifno increase was given now, residents would complain in the <br /> following years when an increase was necessary. <br />I Mayor Probst stated he didn't believe the City would consider rebates as the answer. He noted <br /> the City has received the benefit of previous Councils who have set aside funds so the City is in <br />I the position to build facilities without additional levies or bond issues. Mayor Probst also noted <br /> as the tax capacity is increased, everyone's taxes should start to come down. <br />I Mr. Aiken inquired as to street maintenance, how much is the actual increase and how much is <br /> just different allocations. Mr. Post pointed out from the operation standpoint there are no <br /> changes, but there are greater capital expenses. <br />I Mr. Aiken inquired if there was a tracking of the Gateway development. He noted again he was <br /> wondering if the citizens would see a return on their investment. Mayor Probst noted all funds <br />I are identified in the City records and available for anyone to review. <br />.- Mr. Aiken inquired if there was a concrete dollar amount expected on the investment for the <br /> Gateway development. Mayor Probst noted there is no such guaranteed amount and the City is <br /> doing everything possible to safeguard the City's investment. <br />I <br />
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