Minutes - 1998/10/13 - Laserfiche WebLink

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Page 4 October 13, 1998 Mounds View City Council Whiting told Ms. Olson there would be a direct transfer of $50,000 from the City's General Fund into the Community Center's operating budget. The discussions to be held on the management options will deal with dollar amounts over and above the $50,000, which is the difference between projected revenues generated by the building versus projected expenses. Any shortfall would be made up by the general fund, Whiting stated. Ms. Olson asked how many business would change from the TIF fund, if they were decertified, into the General Fund for the coming year. McCarty stated that none of the existing TIF users were up for decertification this year. Kessel told Ms. Olson the City's three TIF districts were 25 years in length and they expire in the year 2013-2015. McCarty told Ms. Olson the next large increase in revenues from the commercial tax base would come from the Theater Project and not the decertification of TIF. i Ms. Olson asked what percentage of the City's commercial area businesses generate taxes for the good of the City; that go into making up the general fund versus going into TIF. Whiting told Ms. Olson the businesses that are in TIF districts are: Everest Business Park, the Mermaid, and SYSCO. The rest of the business up and down Highway 10 are not in TIF districts. The Community Center is in a TIF district created especially for it. 7. COUNCIL BUSINESS A. Continuation of Fublic Hearing and Adoption of Old Highway 8 Reconstruction Project Assessments. McCarty closed the Council meeting and opened the public hearing. Ulrich gave his report as follows: The assessment roll based on the final projects cost for the Old Highway 8 Reconstruction Project had been recalculated. The new assessment notices had been mailed to all of the benefitting property owners. Staff was recommending approval of Resolution 5270, Adoption of the Old Highway 8 Assessment Roll. No comments were offered by the public. Mayor McCarty closed the public hearing and reopened the Council meeting.