Laserfiche WebLink
CITY COUNCIL WORK SESSION JULY 19, 2000 <br />CITY OF LINO LAKES <br />MINUTES <br />DATE : July 19, 2000 <br />TIME STARTED : 5:10 p.m. <br />TIME ENDED : 9:20 p.m. <br />MEMBERS PRESENT : Council Member Carlson, Dahl, O'Donnell, <br />Reinert, and Mayor Bergeson <br />: None <br />MEMBERS ABSENT <br />Staff members present: Administration Director, Dan Tesch; City Engineer, John <br />Powell; City Planner, Jeff Smyser, Community Development Director, B • <br />Economic Development Assistant, Mary Divine (part); Planning Cor <br />Wyland (part); Finance Director, Al Roleck (part); and Fire Chie <br />TIF PRESENTATION FROM EHLERS & ASSOCI , ICE DIVINE <br />Mr. Mark Ruff, Ehlers & Associates, came forwa r <br />an overview of Tax Increment Financing and <br />in detail noting that TIF is the ability to ca <br />new development within a defined ge <br />types of TIF districts including re <br />ib d a handout regarding <br />t. He reviewed the overview <br />property tax revenues from <br />. Ruff reviewed the different <br />sing, and economic development. <br />Mr. Ruff advised the eli_i. e". nclude the following: land acquisition, <br />demolition and clearovements, utilities, relocation, interest on financing, <br />administration, s de E • `ng upon the district. Financing of TIF includes bonds, <br />pay-as-you-go, , _ me oans. Mr. Ruff reviewed the penalties for use of TIF in <br />detail includin > G • • CA loss and local match option. <br />Ms. Shelly Eldridge, Ehlers & Associates, came forward and reviewed each TIF district <br />within the City of Lino Lakes in detail. A map was distributed indicating the location of <br />each district. <br />Mr. Roleck came forward and distributed graphs regarding the use of TIF in Lino Lakes. <br />The graphs included information relating to the growth in tax base, % of tax base by type, <br />C/I tax capacity comparison, values as a % of C/I values, and Lino Lakes employment <br />data. <br />Ms. Divine came forward and reviewed the process used to determine if a business <br />qualifies for TIF. <br />1 <br />