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CITY COUNCIL WORK SESSION OCTOBER 21, 1998 <br /> CITY COUNCIL WORK SESSION <br /> MINUTES <br /> DATE : October 21, 1998 <br /> TIME STARTED : 5:36 p.m. <br /> TIME ENDED : 9:11 P.M. <br /> MEMBERS PRESENT : Council Members Bergeson, Dahl,Lyden, <br /> Neal,Mayor Sullivan <br /> MEMBERS ABSENT : None <br /> Staff members present: Community Development Director, Brian Wessel; <br /> Administration Director, Dan Tesch; Consulting City Engineer, John Powell; Planning <br /> Coordinator, Mary Kay Wyland; Community Development Coordinator, Mary Alice <br /> Divine; Environmental and Forestry Coordinator, Marty Asleson; Building Inspector, <br /> Tom Jackson. City Clerk-Treasurer, Marilyn Anderson was excused at 6:30 p.m. <br /> FINANCIAL OVERVIEW,JERRY SHANNON <br /> Brian Wessel stated staff is working through the feasibility study for the Redevelopment <br /> Project Plan. The purpose of the study is to look at Lino Lakes ability to provide <br /> incentives in the Town Center. There is a lot of confusion in the community regarding the <br /> City's finances. The City is now ranked 57th in the metropolitan area in the Minnesota <br /> Taypayers Association Ranking of Property Taxes on an average value home. This is <br /> down from last year's ranking of 34th. He stated that companies considering relocation <br /> to Lino Lakes look more at the Comprehensive Plan than at property taxes. <br /> Mr. Jerry Shannon, a representative from Springsted, stated that he is proceeding with the <br /> City's financial analysis. A preliminary report will be available by the first part of <br /> November, 1998,with a final report completed by December 1, 1998. The City's ranking <br /> is determined by a tax payers report that looked at 108 communities that have a <br /> population over 2,500. The average home value in this City is approximately $135,000 <br /> an in the metropolitan area, $115,000. In April, 1998, the cash position of the City was <br /> more than$12 million. The City has committed$2.8 million for the Civic Complex. The <br /> utilization of$1.2 million will take care of the Early Childhood Center. The Centennial <br /> School District will pay the City $1.2 million over the next 10 years for use of the <br /> building. <br /> The City is investing in itself with the Civic Complex. The significant increase in the tax <br /> levy for 1999 was to pay the bonds issued for the Civic Complex and road reconstruction <br /> in the Lakes Addition area. The increase in tax levies this year is 25%. The normal levy <br /> increase has been 8%. The City has adequate moneys on hand to meet its ongoing needs <br /> 1 <br />