2019-08-28 CC Packet - Laserfiche WebLink

Home Browse Search

City of Centerville Council Meeting Minutes July 24, 2019 1. City of Centerville Claims through July 24, 2019 (Check #32790-32841) & E- Check #1377E-1382E) & Voided Check #32799 & (Check #32842-32846) & E1383-1387E 2. Centennial Lakes Police Claims through July 18, 2019 (Check #12727-12748) & Payroll Check #12724-12726 3. Centennial Fire District Claims through July 19, 2019 (Checks #8581-8589) 4. Res. #19-OXX — Proclamation for Constitution Week 5. Res. #19-OXX — Domestic Violence Awareness Month 6. Encroachment Agreement - Fence Mayor Paar provided an opportunity for Council to add or remove any item(s) to the consent agenda. Motion by Council Member Love, seconded by Council Member Paar to Approve the Consent Agenda as Submitted. Council Member Love felt that that the Proclamation for Constitution Week and Domestic Violence Awareness Month were very important and he desired to draw attention to them and their importance. All in favor. Motion carried. IV. OLD BUSINESS 1. Block 7 — TIF District City Administrator Statz stated that the developer of choice was Trident Development for the construction of a 53 unit apartment complex on the City owned property in the downtown area. Previously, the City discussed the organization of a different type TIF District and found that it did not fit the planned uses of the development. He stated that Trident, Staff and Northland Securities all concur that a new district should be designed that better fit the developer and City's goals. He stated that with the new district, there would need to be 20% (11 units) for the life cycle of the TIF district being affordable housing. He also stated that these tenants would be income qualified at or below 50% of the area -wide median income. He reported that this year that income level is $50,000. Administrator Statz stated that the average market rate is $1,400-$1,500/month rent with the affordable component being approximately $900/month rent. Administrator Statz stated that the developer is requesting $1,300,000 in reimbursement (land/extraordinary site improvement costs) on a pay -go basis. Finance Director DeJong stated that this TIF District is very safe for the City as it only pays what it collects. Finance Director DeJong stated that the City offered 95% of the increment which shortened the life of the TIF District from 23 years to 20 years. He also stated that the City would retain 5% of the increment for administrative costs associated with the District. Administrator Statz stated that once the district's life runs its course, only three (3) affordable units are required and associated with the property acquisition from Anoka County as CDBG funds were utilized in 2007 and 2011 for some of the parcels. Page 3 of 7