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CITY COUNCIL WORK SESSION July 1, 2019 <br /> <br /> 1 <br />CITY OF LINO LAKES 1 <br />MINUTES 2 <br /> 3 <br />DATE : July 1, 2019 4 <br />TIME STARTED : 6:00 p.m. 5 <br />TIME ENDED : 7:30 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; Finance Director Sarah 12 <br />Cotton; City Planner Katie Larsen; City Clerk Julie Bartell 13 <br />1. Lyngblomsten TIF Discussion – Community Development Director Grochala 14 <br />and Mikaela Huot, BakerTilly Municipal Advisors, reported. There are two agenda 15 <br />items: review of plan and project to this point; and in the regular agenda packet a 16 <br />resolution approving the tax increment financing plan. He noted that staff has decided to 17 <br />not hold an Economic Development Authority (EDA) meeting next Monday to allow 18 <br />more time for discussion on the contract. Mr. Grochala discussed improvements, 19 <br />amenities and jobs that are included in the project and outside of the actual Lyngblomsten 20 <br />project, as noted in the written report. 21 <br /> 22 <br />Ms. Huot reviewed a PowerPoint including information on the following: 23 <br /> 24 <br />- Proposed Financial Assistance – original application and parts of development 25 <br />that would be included; table showing reductions from original proposed financial 26 <br />assistance; 27 <br />- Scenarios That Could Further Reduce Financial Assistance - the council and staff 28 <br />discussed timing of valuations and other information impacting the figures; 29 <br />- Construction Cost Audit – prior to or post construction are options; staff is 30 <br />following the developer’s assumptions; 31 <br />- Review of Reductions to Assistance; 32 <br />- Use of Pooling TIF Funds; 33 <br />- Budget of Projected Revenues and Expenditures; 34 <br />- Boundaries of District; 35 <br />- Estimated Tax Impacts to Other Entities; 36 <br />- Estimated decrease in tax rate when district is decertified; 37 <br /> 38 <br />Council Member Rafferty asked for a review of park dedication fees. Mr. Grochala 39 <br />explained that fees are based on the number of units, commercial properties, etc. It is 40 <br />$3,000 per unit as a fee. Some elements of the developments may qualify as park 41 <br />improvements so the cost of those would be credited to the fee cost. 42 <br /> 43 <br />- Schedule For Actions by the City Council. 44