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