04-13-2006 Charter Packet - Laserfiche WebLink

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k-11I Y l.VUiNI-M W VKISI SENSION FEBRUARY 8, 2006 APPROVED 1 city's commitment. The amount of the city's additional contribution would be 2 based on final bid numbers and additional funds raised through fundraising. 3 4 4. Because the city did not have to find a funding source for extension of road and 5 utilities to the YMCA,the total city contribution, in today's dollars, remains 6 approximately the same 30 cents on the dollar that was originally anticipated in 7 1999. 8 9 5. The City Parks and Recreation Department is currently working with the YMCA 10 for additional joint programming and opportunities for all residents to be able to 11 utilize the facility. 12 13 Community Development Director Grochala stated staff is seeking Council direction 14 regarding this alternative,based on the benefits gained from completing the YMCA 15 leisure pool with phase one,rather than some undetermined time in the future. 16 17 Actions required to accomplish this would include: 18 19 1. City Council adds to the Monday, February 13 agenda a resolution calling for 20 a public hearing to grant a property tax abatement and to amend the business 21 subsidy agreement to the with the YMCA 22 2. Hold the public hearing on Monday, February 27 and consider adoption of the 23 property tax abatement and amendment to the business subsidy agreement. 24 25 Mayor Bergeson stated the two issues are abatement and the proposal to not give discount 26 memberships to residents. 27 28 Representatives answered Council questions regarding fees,programs capital fundraising 29 efforts, amenities and memberships. The Council questioned the value of the YMCA to 30 residents if the 10% discount for memberships to residents is eliminated. 31 32 The representatives from the YMCA indicated they were meeting with the local YMCA 33 Board tomorrow evening and would discuss ways to open up the facility to non-members 34 in the community throughout the year. 35 36 Mr. Steve Bubal, Kennedy and Graven, explained the abatement process noting the 37 increase in the amount of abatement is workable and will not set a precedent for other 38 abatements. 39 40 Ms. Terry Heaton, Springsted, stated she is recommending the abatement tool because it 41 spreads the debt over the whole tax base and also gives the City the lowest interest rate. 42 She noted the City would save approximately$150,000 over the life of the bonds by 43 using tax abatement. 44 4