05-13-91 Council Special Minutes

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MINUTES CITY COUNCIL MAY 13, 1991 Blesener asked how the City will pay for its share of the improvement costs. The City Administrator estimated that the City's share might be $100,000, and suggested that a possible source of funding would be the Park Acquisition Fund. The Administrator reported that this matter would be referred to the Park Commission on Thursday. Scalze asked the estimated cost of easement acquisition. The City Engineer replied that he would have these estimates worked out for the Council meeting. Scalze asked if Montreal Courts would be assessed for DeSoto since they use the street for access to their parking lot. The City Administrator reported that Montreal Courts does not use DeSoto to access their parking lot. It was suggested that the owners of Montreal Courts be contacted to determine if this is something that they would be interested in. The Administrator again stated that the Park Commission will be asked to comment on sources of funding for the City's share of the DeSoto Street improvement. The Administrator pointed out that the City is not obligated to proceed with the project until it takes bids and awards the project. Blesener suggested since only 10 new lots are being created that the City look into the possibility of using Tax Increment Financing to assist the City in paying its share of the DeSoto Street improvement. The City Administrator thought that the area would have to be designated as an Economic Development District to utilize TIF, which would involve a penalty clause to the City. However, the Administrator stated that he would look into the possibility. Scalze pointed out that Pioneer Park is actually a double-fronting lot, and there are various ways to look at assessments for double-fronting lots. Scalze stated Page 2