HomeMy WebLinkAbout2006-09-06 Minutes Work SessionCity Council 09-06-2006
Summary of Work Session
Present were Mayor Mary Capra, Council Members Michelle Lakso, and Jeff Paar. Also
present were Administrator Dallas Larson, Finance Director John Meyer and City
Attorney Kurt Glaser. Absent were Council Members Richard Terway and Tom Lee
1.John Meyer presented information relating to the budget and showed the amount of
taxes that would be contributed by new construction to be about $38,000, leaving
about $65,000 of the levy increase to be distributed among existing property
taxpayers. The Council discussed the budget and tax impacts. The preliminary
budget and levy will be on the agenda for the next regular meeting.
2.The Council discussed the Downtown Redevelopment Plan and the preliminary
development agreement with Beard Group. John Meyer reviewed tax increment
financing for the first phase and indicted that future phases would have similar
demands on TIF. The Council expressed its preference to do “Pay as you go” tax
increment financing instead of bonding up front, but agreed that all possibilities
should be considered in order to implement the plan. The term of the tax increment
was preferred to not exceed 20 years, but that also would be open to discussion.
The Council discussed other financing sources such as grants and waiving fees as
being other possibilities. The preliminary development agreement will be placed on
the next regular meeting agenda.
Adjourned at approximately 8:25 p.m.
Dallas Larson
City Administrator