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CITY COUNCIL WORK SESSION July 1, 2019 <br />APPROVED <br />1 CITY OF LINO LAKES <br />2 MINUTES <br />3 <br />4 DATE July 1, 2019 <br />5 TIME STARTED 6*00 p.m. <br />6 TIME ENDED 7:30 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; Finance Director Sarah <br />13 Cotton; City Planner Katie Larsen; City Clerk Julie Bartell <br />14 1. Lyngblomsten TIF Discussion -Community Development Director Grochala <br />15 and Mikaela Huot, BakerTilly Municipal Advisors, reported. There are two agenda <br />16 items: review of plan and project to this point; and in the regular agenda packet a <br />17 resolution approving the tax increment financing plan. He noted that staff has decided to <br />18 not hold an Economic Development Authority (EDA) meeting next Monday to allow <br />19 more time for discussion on the contract. Mr. Grochala discussed improvements, <br />20 amenities and jobs that are included in the project and outside of the actual Lyngblomsten <br />21 project, as noted in the written report. <br />22 <br />23 Ms. Huot reviewed a PowerPoint including information on the following: <br />24 <br />25 - Proposed Financial Assistance - original application and parts of development <br />26 that would be included; table showing reductions from original proposed financial <br />27 assistance; <br />28 - Scenarios That Could Further Reduce Financial Assistance - the council and staff <br />29 discussed timing of valuations and other information impacting the figures; <br />30 - Construction Cost Audit - prior to or post construction are options; staff is <br />31 following the developer's assumptions; <br />32 - Review of Reductions to Assistance; <br />33 - Use of Pooling TIF Funds; <br />34 - Budget of Projected Revenues and Expenditures; <br />35 - Boundaries of District; <br />36 - Estimated Tax Impacts to Other Entities; <br />37 - Estimated decrease in tax rate when district is decertified; <br />38 <br />39 Council Member Rafferty asked for a review of park dedication fees. Mr. Grochala <br />40 explained that fees are based on the number of units, commercial properties, etc. It is <br />41 $3,000 per unit as a fee. Some elements of the developments may qualify as park <br />42 improvements so the cost of those would be credited to the fee cost. <br />43 <br />44 - Schedule For Actions by the City Council. <br />1 <br />