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CITY COUNCIL WORK SESSION November 5, 2018 <br />APPROVED <br />1 CITY OF LINO LAKES <br />2 MINUTES <br />3 <br />4 DATE November 5, 2018 <br />5 TIME STARTED 6*00 p.m. <br />6 TIME ENDED 8*50 p.m. <br />7 MEMBERS PRESENT Council Member Rafferty, Maher, <br />8 Manthey, Stoesz and Mayor Reinert <br />9 MEMBERS ABSENT None <br />10 <br />11 Staff members present: City Administrator Jeff Karlson; Public Safety Director John <br />12 Swenson; Community Development Director Michael Grochala; City Planner Katie <br />13 Larsen; Finance Director Sarah Cotton; City Engineer Diane Hankee. <br />14 <br />15 1. Watermark — a. Master Development Agreement; b. lst Addition Development <br />16 Agreement - City Attorney Jay Squires gave an update on the Master Development <br />17 Agreement and 1 St Addition Development Agreement that staff has been working on with <br />18 Lennar and Mattamy. The Council did not have the drafts to review prior to the work <br />19 session. Staff acknowledged they were not as far along as they would have liked because <br />20 there so many moving pieces that needed to be worked out. <br />21 <br />22 Lennar is working hard to get the first phase going, which will be around 100 lots. They <br />23 will be working on Phase 1 as late in the year as they can. <br />24 <br />25 The agreements will be on the November 13, 2018 agenda for Council approval, but the <br />26 Council may not have all the information they need. Staff will update the agreements and <br />27 provide additional exhibits. <br />28 <br />29 2. Northeast Drainage Area Project Funding —Community Development Director <br />30 Grochala reported. Project costs for the NE Drainage Area improvements are $3-4 <br />31 million, which will be funded primarily through the Surface Water Management Fund <br />32 (SWMF), including cash reserves, future fees, special assessments, and abatement <br />33 revenues. The City collects a SWM fee with all new residential, commercial and <br />34 industrial developments, which is based on net developable area. The current fee is <br />35 $6,865 per acre for single/two family lots, $9,235 for multi -family lots, and $10,225 for <br />36 commercial/industrial. <br />37 <br />38 The City's Financial Advisor, Mikaela Huot, explained that Tax Abatement Bonds are the <br />39 most efficient method of financing projects because the City can obtain a lower interest <br />40 rate. The bonds would be paid back as the City collects special assessment fees into the <br />41 SWMF. Staff will continue to refine the City's financing options. <br />42 <br />43 3. All Seasons Rental Update — City Planner Larsen updated the council on changes to <br />44 All Season Rental's building project. The owners submitted revised building plans for a <br />45 one-story building instead of a two-story facility. The building footprint remains 7,740 <br />II <br />