CC MINUTES 06122001 - Laserfiche WebLink

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City Council Study Session Meeting Minutes June 12, 2001 Page 4 1 Mr. Prosser stated the need for a certain amount of income to be available, because the cash will 2 not be metered out as it has been in the past. He stated that the Council needed to be careful to 3 maintain a Fund Balance. He stated that, if the tax structure is changed, the ramifications can not 4 be determined until the changes run a full cycle (a year, or more). 5 While referring to the Key Financial Strategies Comparative Data,Mr. Prosser indicated that 6 they would like to see the City of St. Anthony get more commercial as a city to balance out the 7 Ratio of Total Net Tax Capacity Value, yet development needs to be tailored to the needs of the 8 community. Mr. Prosser added that, in general, balance is better than in-balance. 9 Mr. Prosser compared the 1995 Revenues to the 1999 Revenues, and the 1995 Expenditures to 10 the 1999 Expenditures. He highlighted Improvement Costs, as a significant difference in 11 expenditures from 1995 to 1999. 12 Mr. Prosser stated that it is really easy for a city to function, while forgetting about the Public 13 Works building, the City Hall,etc. by not putting money into them, and that they eventually need 14 attention, which can be an unforeseen problem. 15Mr. Prosser highlighted the KFS Initial Findings that included an aging infrastructure, unmet city 06 facility, and a stable growing tax base. He added that one of the key issues for the Council 17 would be how to prioritize things, as they do not have a lot of initial money. He added that they 18 are not digging themselves out of a very big hole, fortunately. 19 Mayor Cavanaugh thanked Mr. Prosser for coming. 20 Mike Mornson stated that the next meeting to discuss the process would be October 9, 2001, and 21 indicated that it was important for all five Councilmembers be present. Mr. Prosser indicated 22 that he would provide the Council with information for that meeting at least a week ahead of 23 time. 24 VI. DISCUSS STONEHOUSE PROPERTY-Jim Prosser, Ehlers and Associates will be 25 present. 26 Mike Mornson stated that tonight would be an informational discussion with the Council on the 27 Stonehouse, and indicated that Liquor Operations Manager, Mike Larson, was present. 28 Morrison indicated that developing a plan, or options for the Stonehouse property was identified 29 as Goal #2 for the City at their annual Goal Setting Retreat in 2001. He stated that this has been 30 concern of the city since 1990, because of the declining income from the operation of the 31 Stonehouse, as well as increasing building costs. •32 Mornson paraphrased what he perceived to be the City Council's position on the Stonehouse as, 33 "continue keeping the operation open and seek ways to improve the operation, but do not spend a 34 lot of the City's money on the operation because of declining profits and increasing building 35 needs."