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1987 Rec./Disb./Resolutions & Minutes
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1987 Rec./Disb./Resolutions & Minutes
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<br />(pc 1 e <br />t.hree <br />Water and TIF Assessment Hearings <br />September 22, 1987 <br /> <br />Schools. If the City were to not have enough monies from tax <br />increment financing, it would have to levy additional monies. <br />Ms. Drude stressed that it is the intention of this plan that <br />additional levies would not be necessary. <br /> <br />It was the consensus of the Council that additional levies are <br />not an acceptable means of obtaining a water system at this time. <br />Gerry Parent, representing L~Allier Estates II advised that <br />building permits should begin to be taken out in this development <br />by approximately November 1, 1987. Steve Johnston estimated that <br />the Centerville Heights development could begin to take out <br />building permits by January 1988. <br /> <br />Carolyn Drude advised that additional Districts #2 and #3 could <br />be created with the L'Allier Estates and Centerville Heights <br />projects, but cautioned the Council that if were their intent, to <br />make sure to create the districts when best use of the most <br />building permits can be made. Additional hearings would have to <br />be held at the time additional districts were created. <br /> <br />Members of the audience asked questions regarding the TIF plan: <br />Carol Pelton, 7178 Mill Road <br />Dan Tourville, 6994 Centerville Road <br />Wayne Hanson, 7200 Mill Road <br />Ivan Barott, 7120 Main Street. <br /> <br />Council member Laska <br />building trend. He <br />City. <br /> <br />noted that his biggest concern was the <br />felt that this is a big risk for a little <br /> <br />Council member Neumann expressed concern about the possible <br />future quality and quantity of water if all residents, including <br />the developments were to have individual private wells. <br /> <br />William Hawkins, City Attorney noted that the Council will have <br />to set policy regarding guarantees (letter of credit) for the <br />assessments of the new developments. <br /> <br />City Attorney advised that it appears that with issuance of the <br />bonds the City's cost would be closer to $140,000.00 versus the <br />$113,000.00 projected. <br /> <br />Meeting was recessed at 9:25 p.m. <br /> <br />Meeting resumed at 9:45 p.m. <br /> <br />Discussion of the cost of the City~s portion for the proposed <br />water system. Ms. Drude calculated that if the $140,000.00 <br />figure were used at eight years (most bonds are for ten or <br />fifteen years) at 7 1/4%, $23,673.00 per year would be required <br />
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