11-14-2018 Workshop Minutes - Laserfiche WebLink

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MINUTES OF THE WORKSHOP MEETING CITY COUNCIL LITTLE CANADA, MINNESOTA NOVEMBER 14, 2018 Pursuant to due call and notice thereof a workshop meeting of the City Council of Little Canada, Minnesota was convened on the 14th day of November, 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 ALSO PRESENT: City Administrator Mr. Chris Heineman Parks & Rec/Comm Services Mr. Bryce Shearen City Clerk Ms. Heidi Heller DISCUSS The City Administrator reviewed the staff report and noted that the Planning ECONOMIC Commission reviewed the establishment of TIF District 7-2 and unanimously DEVELOMENT recommended approval. He stated that the proposal meets the need OPTIONS requirements. He reviewed the schedule of events and what has occurred to date. He stated that the draft plan is in the packet, but noted that it is not the development agreement. He explained that Ehlers has provided some conditions that they recommend be included in the development agreement. The City Administrator explained that Bix has submitted a letter that explains why they are asking for City assistance. He noted they need to do significant upgrades to the power and utilities on the site, which they are estimating to cost over $1,000,000. The City Administrator reported that one alternative would be to provide tax increment of up to $190,615 which represents a net present value of $150,000. There would be a maximum of 7 years of financial assistance from the City to reach this amount of assistance for the project.. I{eis clarified that at the end of the TIF, there would be no money left in the district. The City Administrator stated that was correct as all of the increment would be used, and then the district could be de -certified.