01-09-2012 Council Workshop Minutes

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TIF & ECONOMIC DEVELOPMENT OPPORTUNITIES MINUTES OF THE WORKSHOP MEETING CITY COUNCIL LITTLE CANADA, MINNESOTA JANUARY 9, 2012 Pursuant to due call and notice thereof a workshop meeting of the City Council of Little Canada, Minnesota was convened on the 9th day of January, 2012 in the Conference Room of the City Center located at 515 Little Canada Road in said City. Mayor Bill Blesener 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 Council Member Council Member Council Member Council Member ALSO PRESENT: City Administrator Ehlers Associates Ehlers Associates City Clerk Mr. Bill Blesener Ms. Shelly Boss Mr. John Keis Mr. Mike McGraw Mr. Rick Montour Mr. Joel R. Hanson Mr. Todd Hagen Ms. Jeanne Vogt Ms. Kathy Glanzer Todd Hagen and Jeanne Vogt, Ehlers Associates, appeared before the Council to present their Management Review & Analysis of the City's Tax Increment Financing (TIF) Districts. Hagen presented a brief of TIF, the various types of TIF Districts, and the use of TIF as a development tool. Vogt reviewed the City's TIF Districts as outlined on page 5 of the report. These include the following: TIF 1 -5 Gideon Pond TIF 2 -1 Kandice Heights TIF 2 -2 TIF 3 -2 TIF 3 -3 TIF 5 -1 TIF 6 -1 Painter's Union Rice Street Redevelopment The Lodge /Garden Terrace St. Jude Medical Masterpiece Homes Vogt noted that District 1 -5, Gideon Pond, has been decertified and the property taxes are being spread normally. This TIF District involved The Mayfield project. Vogt noted that comparing the original Market Value of all of the City's TIF Districts with the Pay 2011 Market Value, there has been a 386.20% increase in value.