06/22/2005 Council Minutes - Laserfiche WebLink

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• • • CITY COUNCIL WORK SESSION JUNE 22, 2005 APPROVED 1 Mr. Rapp provided a background of Himle Horner Inc. noting their similar client 2 experience. He noted the initial strategic recommendations, reviewed Himle Horner's 3 roles and compensation for the plan. He indicated the contract would not include 4 advocating for the passage of any proposed ballot referendum. 5 6 This item will appear on the regular Council agenda Monday, June 27, 2005, 6:30 p.m. 7 8 YMCA FINANCING, SPRINGSTED INC. 9 10 Economic Development Coordinator Divine stated at the Council meeting on June 27, 11 2005, Agenda Item 6C calls for the City Council to consider calling for a public hearing 12 for the establishment of Tax Abatement in the Legacy at Woods Edge project area, and 13 providing a business subsidy for the YMCA through tax abatement. The actual public 14 hearing will take place on Monday, July 25, 2005. 15 16 Ms. Terri Heaton, Springsted Incorporated, provided the background of the YMCA 17 project, stating the City committed to financing $1,500,000 for the construction of the 18 facility and $500,000 of land. She reviewed the options for financing the City's portion, 19 recommending the City utilize GO Abatement Bonds. Springsted is also recommending 20 the City utilize Tax Exempt Private Debt to assist the YMCA with their portion of the 21 funding. She advised that with Tax Exempt Private Debt, if right of first refusal is 22 obtained, the City controls the use of the land. If right of first refusal is not possible, the 23 City may consider Lease Revenue Bonds to protect the City's investment. 24 25 Ms. Heaton reviewed the financing timeline, noting groundbreaking for the project is 26 scheduled for October, 2005. 27 28 Calling for Public Hearing Regarding Tax Abatement in Connection with YMCA Project 29 will appear on the regular Council agenda Monday, June 27, 2005, 6:30 p.m. 30 31 VLAWMO RESTRUCTURING, GORDON HEITKE, JEFF MCDOWELL 32 33 City Administrator Heitke advised Jeff McDowell, Lino Lakes representative of Vadnais 34 Lakes Area Watershed Management Organization (VLAWMO,) is present to update the 35 Council with the most recent information and his perspective on the possible merger of 36 VLAWMO. The VLAWMO 2006 Budget and Cost Allocation to Member Units was 37 distributed. 38 39 Mr. McDowell advised the VLAWMO Board would like an official position from each of 40 the cities involved. The VLAWMO Board voted 4-3 to continue on as a JPA to maintain 41 location control. 42 43 Mr. McDowell advised he strongly feels merging is the appropriate option for the 44 VLAWMO organization.