05/08/2002 Council Minutes - Laserfiche WebLink

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APPROVED CITY COUNCIL WORK SESSION MAY 8, 2002 CITY OF LINO LAKES MINUTES DATE : May 8, 2002 TIME STARTED : 5:35 p.m. TIME ENDED : 7:59 p.m. MEMBERS PRESENT : Council Member Dahl, Carlson, O'Donnell (6:10 p.m.), and Reinert MEMBERS ABSENT : Mayor Bergeson Staff members present: City Administrator, Linda Waite Smith; Economic Development Assistant, Mary Alice Divine (part); Community Development Director, Michael Grochala; City Engineer, Jim Studenski (part); Finance Director, Al Rolek (part); Public Services Director, Rick DeGardner; and City Clerk, Aim Blair TIF UPDATE, MARY ALICE DIVINE Economic Development Assistant Divine stated the possibility of creating two new redevelopment TIF districts was discussed at the last Council work session. She referred to a map pointing out the current TIF districts and distributed a handout that outlined each district. She reviewed the information on the handout noting when each TIF district will expire. Economic Development Assistant Divine advised TIF district 1-7 will generate $226,800 in taxes in 2002 with the City's portion totaling approximately $90,720. TIF district 3-1 will generate $347,000 in taxes in 2002 with the City's portion just under $139,000. Councilmember Carlson referred to the housing TIF district 1-5 noting the City should learn something from that district because it will not be on the tax rolls until 2013. Economic Development Assistant Divine noted TIF district 1-5 is the senior housing in Cottage Homesteads. Councilmember Carlson stated the City needs to address the problem of high rent at some point in the future. Economic Development Assistant Divine advised Cottage Homestead has to report to the City every year to make sure they are in the affordability range relating to rent. She noted the study that was done for senior housing in the Village discovered that the market can handle even higher amenity housing for seniors.