2019-11-13 CC Minutes - Approved

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City of Centerville Council Meeting Minutes November 13, 2019 due to weather delays. He stated that both he and City Attorney Glaser were comfortable with granting the extension until June, 2020. Motion by Council Member Montain, seconded by Council Member Koski to Grant the Extension of the Installation of the Above Stated Items Until June, 2020. All in favor. Motion carried. 5. Authorize TIF Developer’s Agreement – Block 7 – Trident Development Administrator Statz stated that there may have been clarification needed for the wording of the item placed on the agenda. He stated that he is requesting that the Council consider authorizing Staff, the consultant (Northland Securities) and the TIF Attorney (Mary Ipple) to draft a TIF Developer Agreement at a cost not to exceed $7,500. He stated that this would continue the processes needed to further the proposed 53 unit apartment building if that was the desire of Council as he felt that the expenditures were significant if Council did not desire to further the project. He stated that Mr. Patrick Brama, Trident Development was in attendance to answer questions this evening. Mayor Paar asked Attorney Glaser for clarification. Attorney Glaser stated that if Council desire to go forward with TIF this item would need to be discussed and if Council was against offering TIF this would not make sense to authorize. However, at this time it is not authorizing TIF. Council Member Lakso asked whether these costs could be placed against or negotiated with the Developer or whether they were reimbursable. City Administrator Statz stated that the costs could be negotiated. Council Member Love inquired about the differences in what has been presented by Northland Securities to date and this agreement. City Administrator Statz stated that this would be a draft agreement. Previously discussed has been Northland’s analysis of the developer’s performa and the details of the proposed TIF deal. Council Member Montain felt that consensus should be reached prior to drafting an agreement. Administrator Statz stated that the agreement would provide for details and if Council choses after the agreement to scrap the project that can be done. He stated that this offers Council an opportunity to explore the options available. Mayor Paar stated that it does not mean a 20 year TIF project is approved it is obtaining additional facts and allowing Council to make a much wiser decision. Motion by Council Member Love, seconded by Council Member Lakso to Authorize the Expenditure of Up to $7,500 to Draft a TIF Developer’s Agreement. Council Members Koski and Montain opposed. Motion carried. Mayor Paar stated that Council will determine whether the project should be funded with TIF, the years for the TIF, dollar amount of the TIF and concessions if determined at a later date. Discussion ensued regarding the previously discussed scenario of 20 years, 95% paid by developer, 5% retained by City with the present value of 1.35 million, pay as go and conservative assumptions that taxes would increase and pay off would be prior to the 20 years. Several Council Members desired to negotiate optional scenarios going forward. Page 6 of 11