09-26-2018 Workshop Minutes - Laserfiche WebLink

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MINUTES OF THE WORKSHOP MEETING CITY COUNCIL LITTLE CANADA, MINNESOTA SEPTEMBER 26, 2018 Pursuant to due call and notice thereof a workshop meeting of the City Council of Little Canada, Minnesota was convened on the 26t' day of September, 2018 in the Conference Room of the City Center located at 515 Little Canada Road in said City. Mayor John Keis called the meeting to order at 6:00 p.m. and the following members of the City Council were present at roll call: CITY COUNCIL: Mayor Mr. John Keis Council Member Mr. Tom Fischer Council Member Mr. Rick Montour Council Member Mr. Mike McGraw Council Member Mr. Christian Torkelson (arrived at 6:19 p.m.) ALSO PRESENT: City Administrator Mr. Chris Heineman Finance Director Ms. Sharon Provos Public Works Director Mr. Bill Dircks Assoc. Planner/Code Enf. Ms. Jessica Jagoe City Cleric Ms. Heidi Heller Ehlers Mr. Todd Hagen DISCUSS Mayor Keis stated that the purpose of this evening's workshop is to discuss a ECONOMIC proposed economic development project in Little Canada. Keis stated that DEVELOMENT Senior Municipal Advisor Todd Hagen from Ehlers, is here to review the OPTIONS incentive options. Todd Hagen, Ehlers, stated that they received the property value increase amount from Ramsey County, which is estimated at a $1.5 - $2 million increase, and there is tax increment that could come from that. He stated that he talked to the brokers from CBRE, and they are agreeable to any amount of increment, which he estimates to be around $263,000. He noted that they will be installing a lot of equipment that they are not taxed on. He stated that he wants to snake sure that the County has enough information upfront so that after they move in, the assessor does not raise the value by a lot more which would cause problems. The City Administrator stated that he had $292,302 stated in the staff report which is the gross increment before fees. Mr. Hagen stated that 90% of the increment typically goes to the developer.