HomeMy WebLinkAbout2007-01-11 CC WS
City Council 2007-01-11, 6:30 p.m.
Minutes of Work Session
Present were Mayor Mary Capra, Council Members Michelle Lakso, Linda Broussard
and Tom Lee. Also present were Public Works Director Paul Palzer, Finance Director
John Meyer, City Attorney Kurt Glaser and Administrator Dallas Larson. Absent was
Council Member Jeff Paar.
Council discussed meeting etiquette and agreed to follow the procedures on the written
handout in order to foster efficiency and cooperation.
Council reviewed 2006 goals to evaluate what has been accomplished and if any of those
should be brought forward to 2007. A list of possible goals for 2007 was presented by
Administrator Larson. Council provided feedback on the list and added some additional
items. Staff will format them by category and suggest some implementation measures.
The third and final item on the agenda was discussion of the redevelopment of downtown
and more specifically the redeveloper agreement with Beard Group. Finance Director
Meyer reviewed a financial analysis of the project including a chart showing likely
contribution of tax increment financing. The project has a shortfall of about one million
dollars for all phases even if TIF were used for the maximum 25 year term. Any
additional funding from grants or other sources would reduce the length of TIF. There
was a consensus that the project is important enough that the longest term should be
supported, but every effort should be made to find other funding sources that would
reduce the term.
City Attorney Glaser reviewed the major issues associated with the development
agreement. He suggested that the City should authorize some legal and financial services
from firms specializing in these kinds of projects. He indicated that this project is worth
about $100 million and that a relatively small investment now could save the City many
times that amount. The Council agreed that specialists should be used to review the
agreement and financial plans. Glaser suggested that the project be reviewed at the next
regular council meeting with a hope to approve an agreement in February.
Adjourned at approximately 9:00 p.m.
Dallas Larson
City Administrator