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CC PACKET 07222003
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CC PACKET 07222003
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12/30/2015 8:02:13 PM
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12/30/2015 8:02:02 PM
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29
SP Folder Name
CC PACKETS 2001-2004
SP Name
CC PACKET 07222003
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City Council Regular Meeting Minutes 04 <br /> June 24, 2003 <br /> Page 3 <br /> 1 subsequent relocation, a new location for said polling place needed to be established. After <br /> 2 consideration of available locations, it was determined that the most favorable polling location <br /> 3 was Doran Hall, located in the St. Charles Borromeo Catholic Church, 2739 Stinson Boulevard. <br /> 4 Mr. Morrison added that the resolution needed approval, as the voters in Precinct 1 must be <br /> 5 notified of the change 60 days prior to an election. <br /> 6 <br /> 7 Councilmember Thuesen asked if this was a long-term solution. Mr. Momson responded that it <br /> 8 had the potential for being a long-term solution. <br /> 9 <br /> 10 Motion by Councilmember Thuesen to adopt Resolution 03-045, approving a polling location <br /> 11 change. <br /> 12 <br /> 13 Motion carried unanimously. <br /> 14 <br /> 15 B. Consider Resolution 03-043, re: Approve decertification of Kenzie Terrace Tax <br /> 16 Increment Financing District. <br /> 17 City Attorney Jerome Gilligan recommended the City of St. Anthony take action to decertify the <br /> 18 Kenzie Terrace Tax Increment Finance District for the following reasons: <br /> 19 <br /> 20 1. The bonds issued to finance the redevelopment would be callable February 1, <br /> 21 2004, and the City had adequate cash to pay the outstanding debt. Therefore, all <br /> 22 debt associated with the City Hall/Community Center Building would be retired. <br /> 23 In addition, by calling the bonds, interest expense of$235,315 would be saved. <br /> 24 2. Under the current law, other than for the City Hall/Community Center Bonds, the <br /> 25 increment from the District could not be used for other purposes outside of the <br /> 26 TIF District boundaries. <br /> 27 3. Decertifying the District would place the property back on the City's tax roles. <br /> 28 This would provide a significant increase to the City's tax capacity, and the City's <br /> 29 expenses would be spread across a larger tax base. Therefore, the tax burden <br /> 30 would decrease, and the impact of future debt would not be as significant. <br /> 31 4. Decertification of Kenzie would reduce the tax impact of the costs associated with <br /> 32 the building of the new Public Works and Fire Station buildings. <br /> 33 <br /> 34 Motion by Councilmember Sparks to adopt Resolution 03-043, approving decertification of <br /> 35 Kenzie Terrace Tax Increment Financing District. <br /> 36 <br /> 37 Discussion: <br /> 38 Mayor Hodson noted that the calling of the bonds would save the City approximately$235,000 <br /> 39 in interest expense. He thanked the staff for taking care of the matter in such a wise fashion. <br /> 40 <br /> 41 Motion carried unanimously. <br /> 42 <br /> 43 C. Consider Ordinance 2003-008, re: CenterPoint Energy Minnegasco franchise renewal 0" <br /> 44 reading). <br /> 45 Mr. Gilligan indicated that CenterPoint Energy Minnegasco had been working throughout the <br /> 46 metro area over the past 12 to 18 months renewing their franchise agreements with cities. The <br /> 47 existing franchise with St. Anthony would expire in the near future. The proposed ordinance had <br />
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