01-09-2012 Council Workshop Minutes

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MINUTES CITY COUNCIL JANUARY 9, 2012 renovation districts certified after June 30, 2003 and before April 20, 2009 this deadline is extended to ten years due to the downturn in the economy. The City's post -1990 districts meet the 5 Year Rule. Vogt then reviewed Ehlers' Pooling Recommendations (TIF dollars available outside the districts) as outlined on page 14 of the report. She also noted that page 10 of the report summarizes the specific boundaries of each development district. There was discussion relative to these boundaries as well as whether the FDA should transfer authority for the district to the City. Vogt stated that she would have to confirm this ability with TIF counsel. The City Administrator indicated that the City would like to get maximum flexibility in District 3 -2. Some of the pooling funds could be used to help redevelop the area of the new Public Works Garage. Potential redevelopment of that area was discussed in detail with the likelihood that it will be necessary to both acquire and swap properties to assemble a redevelopment site. The Public Works Garage would be located on the edge of this redevelopment area and would not receive direct TIF assistance due to statutory requirements. Discussions returned to the TIF dollars that were available for pooling and the potential redevelopment projects within the City. In addition to redevelopment along Country Drive and South Owasso Blvd. area, the City Administrator noted that the Winter property is available for purchase which has the potential for extension of the The Villas townhome project. Redevelopment of the US Bank building, the bowling alley, and acquisition of the two remaining houses on Round Lake are also potential projects. Keis suggested that redeveloping the pawn shop, liquor store, and adjacent multi - tenant building should be included for consideration. Vogt noted that TIF dollars used for redevelopment within their specific district are not restricted. There are no restrictions on the use of TIF dollars for redevelopment in other districts for pre -1990 districts. Post 1990 redevelopment districts have a 25% maximum that can be used outside a development district and a 20% maximum for other than redevelopment districts. The City Administrator indicated that Ehlers' report shows that the City has some healthy TIF balances which provide an opportunity to keep redevelopment moving forward. The Administrator felt it was advantageous for the City to purchase redevelopment sites when they are available, rather than wait until it has to, even if the City has to sit on the land for a period of time. The City Administrator felt one of the first things the City should do is approach the Ketchmark's to determine if they are willing to sell their property. The City should also enter into 4