04-13-2022 Workshop Minutes - Laserfiche WebLink

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MINUTES OF THE WORKSHOP MEETING CITY COUNCIL LITTLE CANADA, MINNESOTA APRIL 13, 2022 Pursuant to due call and notice thereof a Workshop meeting of the City Council of Little Canada, Minnesota was convened on the 13th day of April, 2022 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 Keis, Council Members Fischer, Torkelson and Miller, who is attending by conference call. Absent:. McGraw. ALSO PRESENT: City Administrator Chris Heineman, Public Works Director Bill Dircks, City Clerk/HR Manager Heidi Heller, Finance Director Brenda Malinowski, Parks & Rec/Community Services Director Bryce Shearen, City Engineer Eric Seaburg and Engineer Beth Engum with Bolton & Menk, and Todd Hagen and Jeanne Vogt from Ehlers. TAX INCREMENT FINANCING (TIF) MANAGEMENT PLAN UPDATE Jeanne Vogt explained that Ehlers has been updating the TIF Plan Management Plan periodically for the City's TIF districts since 2008. She explained that periodic updates on the Plan are important to identify opportunities throughout the City. She stated that since there has been discussion on future development activities, it will be helpful to determine the opportunities for the possible use of existing TIF in these development activities. She noted the Plan will also identify future tax capacity increases as districts are decertified. She reported that the plan was updated in March 2021, and since 2016, two TIF Districts have been decertified, and three TIF Districts have been certified. Ms. Vogt reviewed the City's TIF Management Plan and where the districts are currently at. She stated that 4.65% of the city's tax capacity is part of a Tax Increment Financing District, which has been a fairly steady amount for many years. She noted that this is comparable with similar and surrounding communities, and the city's bond rating of AA+ is fantastic. Ms. Vogt explained that in 2021, the State of Minnesota put a temporary spending authority in place that broadens what costs that would be TIF-eligible. She stated that a spending plan must be adopted by December 31, 2022 if the City wants to take advantage of this. She noted the City has $1.1 million from a pre-1990 TIF District that already has fewer restrictions since this district was created prior to the State changing the TIF rules. Ms. Vogt stated that overall the City of Little Canada manages the TIF Districts very well and there are no compliance issues. She noted there are some pooling and temporary spending authority opportunities for the City to consider.