Minutes - 2005/07/11 - Laserfiche WebLink

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Mounds View City Council July 11, 2005 Regular Meeting Page 18 distinction. He stated that Council reviewed this issue and determined that the district would be named based on the actual use, which is consistent with what zoning is. He stated that it actually applies to the land use. Ms. Haake clarified that currently there are two zonings on the property. She asked if the entire area would now be zoned as office. Director Ericson explained that the office designation would be consistent with the industrial zoning and the zoning would be consistent with the office designation. Ms. Haake stated that, if by chance the referendum does succeed at the election in November and the golf course stays, would this land use amendment cause the golf course to become a non- conforming use in this area. Director Ericson explained that there would not be a need to do a subsequent Comprehensive Plan amendment noting that there are a number of properties in the City where the City has taken the position that the future long-term use should be something other than what it is. He stated that it could remain a golf course forever, even with the office use designation. Mary Berg, The Bridges Golf Course, responded to Council Member Stigney and referenced page 14 of the current audit report, stating that the report outlines the golf course expenses including the debt services. She noted that it shows $856,000 for expenses and $700,531 for the • revenue with a $300,000 amount that has to be kept in the account to cover the debt services. She noted that this is another interfund loan that has to be paid back by 2017 with interest. She pointed out that this year the revenue from the billboards was supposed to be $252,000 and if you subtract the $155,000 you would have approximately a $90,000 profit. She stated that the only reason she wanted to point this out was due to Council Member Stigney's challenge that if they could show him a profit he would consider signing the petition. Council Member Stigney asked when the golf course would break even with the debt and losses. Ms. Berg stated that everything would be paid off in 2017. Council Member Stigney concurred that everything would be paid off in 2017 adding that the golf course wouldn't come close to breaking even until that time. He stated that this is part of his concern noting that this is when a possible profit from the golf course would be seen, if there even. is a profit. Ms. Berg stated that unfortunately no other options were considered to sell a small portion of the golf course without TIF to bring in tax revenue today. She stated that it could be making tax revenue with a portion of the golf course adding that these ideas were brought to the Council. She acknowledged that some of the current Council Members were not members of the Council at that time, but the options were disposed of when the Medtronic project came in. • Mr. McCarty stated that he appreciates Council Member Stigney's junkyard dog approach