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<br />Regular City Council Minutes -11/18/02 <br />Page 3 <br /> <br />tax increment financing; legislation changes shielding <br />school district tax monies; comparable site information; <br />projected tax revenue; the corporate structure of <br />Presbyterian homes and the proposed non-exempt status of <br />the development property; no intended subsidized rental <br />units; involvement of Presbyterian Homes as a result of a <br />market study completed for Presbyterian Homes by <br />Maxfield Research Group, indicating a great demand for <br />independent housing based on demographics in the <br />Roseville area, further fitting in with Presbyterian Homes' <br />Strategic Plan; any affects on the proposed Arona site <br />development and long-range plans in that area; and <br />concerns regarding protecting taxpayer interest to ensure <br />that the property wouldn't become tax exempt in the <br />future. <br /> <br />Kysylyczyn moved, Klausing seconded, approval of <br />encouraging Presbyterian Homes to make a formal tax <br />increment application with corresponding a deposit; <br />directed staff to hire a City financial consultant to develop <br />tax increment and tax abatement proj ected based upon the <br />proposal by Presbyterian Homes; and encouraged <br />Presbyterian Homes to continue through the formal land <br />use process. <br /> <br />Further discussion included the attractiveness of the <br />proposed project; the burden on Presbyterian Homes to <br />prove the need for tax increment financing; and further <br />staff analysis of the project's merits. <br /> <br />Ayes: <br />Nays: <br /> <br />Roll Call <br />Schroeder, Kough, Klausing and Kysylyczyn. <br />Maschka. <br /> <br />B. Presentation of Utility Rate Analysis and Recommend Utility Rate <br />2003 Rates for Water, Sanitary Sewer, Storm Drainage Analysis and <br />and Recycling Fees 2003 Rate <br />Finance Director Chris Miller provided an overview of Recommendation <br />staff analysis on various city-enterprise operations to <br />determine whether rate adjustments are necessary. <br />