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Mounds View City Council May 24, 2010 Regular Meeting Page 4 7. COUNCIL BUSINES5 A. 7:05 p.m. Public Hearing to Review and Consider Resolution 7612, Adopting the Five Year Financial Plan for the Years 2011 through 2015. Finance Director Beer stated City Charter, Chapter 7.05 requires that a five year iinancial plan be prepared annually. It must be presented at a public hearing and adopted by motion or resolution. The City Council reviewed the plan at the May 3`d work session. This five year plan should be considered a work-in-progress and a guide for Council and Staff to make longer range decisions. As new information becomes available and conditions change we can update the components to determine the longer range affect. The Five Year Plan is a blueprint for future years and is only one possible scenario. It is intended to be changed as priorities change and more current information becomes available. Finance Director Beer explained he did update the street improvement plan information as it would be completed ahead of schedule. A deiicit was shown for each of the five years and noted work would need to be done to balance the financial plan. Staff welcomed Council comments or questions. Mayor Flaherty opened the public hearing at 8:13 p.m. Hearing no public input, Mayor Flaherty closed the public hearing at 8:13 p.m. Council Member Hull asked why the Street Improvement Levy was increased for years 2014 and 2015. Finance Director Beer explained the TIF District 1 capacity comes back on line in 2014. In addition, $800,000 was saved because the project would be completed ahead of schedule. Council Member Hull questioned how this would affect the residents in 2014 and 2015. Finance Director Beer anticipated the residents would still see a tax decrease due to the fact the TIF district was decertifying. MOTION/SECOND: Gunn/Mueller. To Waive the Reading and Adopt Resolution 7612, Adopting the Five Year Financial Plan for the Years 2011 through 2015. Council Member Stigney explained the plan was not "set in stone" and suggested a long-term approach be taken with more realistic increases. He stated he would not support the plan. Ayes — 4 Nays — 1(Stigney) Motion carried. B. 7:10 p.m. Public Hearing for the Introduction and First Reading of Ordinance 845, a Zoning Code Amendment to Chapter 1112, B-1 Neighborhood Business District, adding Thrift 5tore and Other Additional Permitted Uses. • • Planning Associate Heller indicated Dawn Huffman has applied to the City for a zoning code text • amendment to add "thrift store" as a pernutted use in the B-1, Neighborhood Business district.