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• FALCON HEIGHTS CITY COUNCIL MINUTES _3_ October 8, 2003 Resolution Authorizing Staff to Request Financial Participation in the Curtiss Field Improvements from the Minnesota Department of Transportation (continued) Council member Talbot asked if Howard R. Green found this potential funding source for the City and Administrator Worthington said that they did. They contacted MN DOT and MN DOT encouraged the City to apply. Council member Lindstrom said that a resident living on Snelling told him that Snelling used to flood before the current stormwater drainage system was constructed. Mayor Gehrz asked how much money might be .available to the City. Administrator Worthington said the funding amount will be determined by MN DOT. RESOLUTION 2003-20 Kuettel moved adoption of Resolution 2003-20 authorizing staff to request funding from MN DOT, through its municipal agreement program, for the rehabilitation of Curtiss Pond. The motion was unanimously approved. Release of Development Agreement on One Lot of the Bullseve Redevelo ment Administrator Worthington explained that construction of the new Dino's restaurant includes a land-swap between Dino's and Wellington Management, the owner of the Falcon Crossing shopping center property. Since the shopping center was subject to a Development Agreement when constructed, the parcel that is being swapped needs to be released from the Development Agreement at this time. Council member Lindstrom asked if the Embers property is part of the Falcon Crossing TIF District. Administrator Worthington said it isn't, but it is part of the Development District. She said the TIF District for the Falcon Crossing shopping center property is a 25 year district. The developer/owner started receiving TIF funds in 1986 and the City can decertify it in 2007. About every two years, the City has Ehlers do a complete TIF review of its two TIF districts to make sure they are in compliance with State standards. Council member Talbot asked Administrator Worthington if she would explain TIF districts because some members of the public are confused and think that TIF districts don't pay taxes. Administrator Worthington said that all taxing jurisdictions, i.e. City, School District and County, etc., continue to receive taxes on property within a TIF District at the tax rate established prior to creation of the TIF District. Once the TIF District is established, the increment generated over and above that prior tax rate can go back to the developer for the life of the TIF District. 108339