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City Council Regular Meeting Minutes <br />June 11, 2019 <br />Page 2 <br />1 coordination is a hurdle staff has had to handle. The partnerships with the County have always <br />2 been strong and deep. <br />3 <br />4 III. CONSENT AGENDA. <br />5 <br />6 A. Approval of May 28, 2019 City Council Meeting Minutes. <br />7 B. Licenses and Permits. <br />8 C. Claims. <br />9 <br />10 Motion by Councilmember Randle, seconded by Councilmember Jenson, to approve the Consent <br />11 Agenda items. <br />12 <br />13 Motion carried 5-0. <br />14 <br />15 IV. PUBLIC HEARINGS <br />16 <br />17 A. Resolution 19-052; a Resolution Approving Tax Abatement on Identified Tax Parcel <br />18 Numbers to Finance Various Storm Water Improvements. <br />19 <br />20 Mayor Faust opened the public hearing at 7:11 p.m. <br />21 <br />22 Mr. Keith Dahl, Ehlers & Associates, reviewed the City is moving forward with the process to <br />23 make necessary improvements to address flooding along Silver Lake Road and in the Industrial <br />24 Park to pay for the City's portion of improvements to County Road C. These improvements are <br />25 expected to cost approximately $2,276,000. The City will be receiving grant funds from the <br />26 DNR and two other entities and funds from Ramsey County, which total $852,000. The <br />27 remaining costs need to be financed with a general obligation tax abatement bond. To meet the <br />28 City's financing parameters, it is anticipated that the City will issue these bonds in an amount not <br />29 to exceed $1.6M with a 15-year term (anticipated bond amount is $1,505,000). <br />30 <br />31 The City has the authority under Minnesota Statute 469 to issue abatement bonds for these <br />32 projects. In order to grant tax abatement, the City is required to hold a public hearing on the <br />33 amount of the abatement to be granted, identify the properties from which they will abate the <br />34 City's portion of the taxes and describe the public purpose for granting the abatement. <br />35 <br />36 The City will be abating its portion of the taxes from the following properties: <br />37 313023310036, 0702923110012, 0702923110030, 0702923110031, 0702923110015, <br />38 0702923110011, 0702923110026, 0702923110025, and 0702923110022, <br />39 <br />40 The property locations were indicated on a map. <br />41 <br />42 The public purpose in granting the abatement is that the City expects the benefits to the City of <br />43 the abatement to at least equal to or exceed the costs to the City and that granting the abatement <br />44 is in the public interest. <br />45 <br />