Minutes - 2005/08/22 - Laserfiche WebLink

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Mounds View City Council August 22, 2005 Regular Meeting Page 17 • Councilmember Stigney asked how much additional taxes will be realized. Director Ericson stated staff has not done that analysis but could determine that number if desired by the Council. Councilmember Stigney noted they are asking for $250,000 of TIF and asked whether it will bring additional tax base to the City. He asked what is the benefit of the City and stated he believes cutting down the trees will be an adverse effect on the City. Director Ericson stated there are impacts as a result of the land transfer and the relocation of the storm water management plan would result in some trees coming out. He explained there is also about one acre of designated wetland that would need to be mitigated. The Rice Creek Watershed District and the DNR have indicated they would prefer to not have that mitigation occur adjacent to the site and risk losing all the trees. They suggested the mitigation occur somewhere else where trees would not be mitigated. Director Ericson advised that every single significant tree to be removed, 77 of them, will be replaced but not on a one-to-one basis. He stated there will be added value but staff does not know what that dollar amount will be. He stated there is currently no obligations on the site and sufficient funds will be available to make the TIF payments. Councilmember Stigney stated he would like to know the timeframe to pay back the $250,000 for putting in the driveway and parking spaces. He stated that he does not believe it is a good trade off to replace mature tall trees, 100 feet or more, with small trees. Economic Development Coordinator Backman stated the project is approximately is $1.2 million, should add about $15,000 in property taxes each year, and generate over $300,000 a year in TIF increment. He advised that the trees are primarily cottonwoods, not hardwoods, so there are some options to have good replacement trees. Councilmember Thomas noted it is also adding jobs. Mayor Marty closed the public hearing at 10:20 p.m. Councilmember Stigney stated it is proposed they will generate 100 jobs in the next five years but nothing is in the documentation. Director Ericson stated it is a condition of the TIF financing that 20 jobs per year must be added over each of 5 years. If that does not occur, a portion of the TIF would have to be paid back to the City. Councilmember Stigney asked if the City gets information each year on the jobs created. Director Ericson answered in the affirmative. MOTION/SECOND. Gunn/Thomas. To waive the reading and adopt Resolution 6590 Approving a Planned Unit Development and Development Agreement Amendment for SYSCO Minnesota; Planning Case PA 2005-0002. • Mayor Marty referenced Page 5, Community Profile and Background, Consistency with Council Policy, and asked whether wetland credits will be purchased off site to lessen impact to the