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MINUTES <br />CITY COUNCIL WORKSHOP <br />SEPTEMBER 26, 2018 <br />3 <br />the small amount of increment over the existing tax base would give the City a <br />seat at the table. <br />Keis clarified that the Council is supportive of transferring the SAC credits and <br />supporting the DEED funding. Fischer clarified that the Council would only <br />consider an economic development TIF District. The City Administrator stated <br />that it will be up to the company to show their need for City financial incentives. <br />There was Council consensus to consider economic development incentives for <br />Project Surf and directed staff to start the process for an economic development <br />TIF District. <br />The City Administrator explained that he received a request for the City to <br />participate in conduit financing with Presbyterian Homes on a project in <br />Roseville. He noted that there is a Fund Balance Policy, and the fees generated <br />from this financing would be directed into the economic development fund <br />rather than the general fund. Fischer noted that by doing this conduit financing, <br />the City would be locked out for 2018 and 2019 for issuing tax-exempt bonds. <br />He asked what happens if the City wanted to do a big capital improvement <br />project in the next two years. Mr. Hagen explained other ways of funding large <br />projects. There was Council consensus to move forward with this request from <br />Presbyterian Homes for conduit financing. <br />There being no further business, the workshop was adjourned at 7:26 p.m. <br />__________________________________ <br />John T. Keis, Mayor <br />Attest:_____________________________________ <br />Christopher Heineman, City Administrator