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City Council Regular Meeting Minutes June 24, 2003 Page 3 1 A. Consider Resolution 03-045, re: Approval of a polling location change. 2 City Manager Mike Morrison explained that registered voters residing in Precinct 1,Hennepin 3 County of the City of St. Anthony, had voted at the St. Anthony Fire Station in previous 4 elections. Due to redevelopment of the area in which the Fire Station is located and its 5 subsequent relocation, a new location for said polling place needed to be established. After 6 consideration of available locations, it was determined that the most favorable polling location 7 was Doran Hall, located in the St. Charles Borromeo Catholic Church, 2739 Stinson Boulevard. 8 Mr. Mornson added that the resolution needed approval, as the voters in Precinct 1 must be 9 notified of the change 60 days prior to an election. 10 11 Councilmember Thuesen asked if this was a long-term solution. Mr. Mornson responded that it 12 had the potential for being a long-term solution. 13 14 Motion by Councilmember Thuesen to adopt Resolution 03-045, approving a polling location 15 change. 16 17 Motion carried unanimously. 18 19 B. Consider Resolution 03-043 re: Approve decertification of Kenzie Terrace Tax 20 Increment Financing District. 21 City Attorney Jerome Gilligan recommended the City of St. Anthony take action to decertify the 22 Kenzie Terrace Tax Increment Finance District for the following reasons: 23 24 1. The bonds issued to finance the redevelopment would be callable February 1, 25 2004, and the City had adequate cash to pay the outstanding debt. Therefore, all 26 debt associated with the City Hall/Community Center Building would be retired. 27 In addition,by calling the bonds, interest expense of$235,315 would be saved. 28 2. Under the current law, other than for the City Hall/Community Center Bonds, the 29 increment from the District could not be used for other purposes outside of the 30 TIF District boundaries. 31 3. Decertifying the District would place the property back on the City's tax roles. 32 This would provide a significant increase to the City's tax capacity, and the City's 33 expenses would be spread across a larger tax base. Therefore, the tax burden 34 would decrease, and the impact of future debt would not be as significant. 35 4. Decertification of Kenzie would reduce the tax impact of the costs associated with 36 the building of the new Public Works and Fire Station buildings. 37 38 Motion by Councilmember Sparks to adopt Resolution 03-043, approving decertification of 39 Kenzie Terrace Tax Increment Financing District. 40 41 Discussion: 42 Mayor Hodson noted that the calling of the bonds would save the City approximately$235,000 43 in interest expense. He thanked the staff for taking care of the matter in such a wise fashion. 44 45 Motion carried unanimously. 46