10/21/1998 Council Minutes - Laserfiche WebLink

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