01-20-09-WS - Laserfiche WebLink

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ARDEN HILLS CITY COUNCIL WORK SESSION - JANUARY 20, 2009 6 Ms. Kvilvang stated the City can do a tax increment finance district but that the issues with this site include significant contamination as well as buildings that needed to be demolished. These items require a great deal of capital before the site would be ready for redevelopment. Mayor Harpstead stated the Council would have this issue clearly explained before this item was to go before the legislators. He indicated the City does not want to start this project and have it half done and experience financial concerns. Councilmember Holden indicated a portion of land within TCAAP would be deeded back to the City for public use and parks. Mayor Harpstead explained the City was trying to establish a wise financial position to assure that this project begins and follows through to completion without impacting its residents or the State. He stated that looking at the numbers, this development will not happen without using future revenue streams from the development that is on the property itself. Councilmember McClung indicated he was not a huge fan of TIF but that the numbers shown will not allow the TCAAP development to continue without some form ofTIF for this project. Mayor Harpstead explained the economic conditions that arose in 2008 did not make this large-scale development any easier. Councilmember Holden stated the extra conditions the City of Arden Hills was requesting would allow the City more control over the TIF. Senator Chaudhary encouraged the Council to consider a unIque alternative energy project for the TCAAP development. Ms. Kvilvang stated the City would be interested in an appropriation for the energy alternative and should continue conversations regarding this issue. Mayor Harpstead reviewed the current timeline for the land transfer stating it should be mid-September, but could slide further out.