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Home My WebLink AboutCC PACKET 10051999 Meeting Sheet IIIIIIVIIIVIIIVIIIVIIIVIIIIIIIIIII 106470 Box: 37 Folder. CC PACKETS 1999 Document: CC PACKET 10051999 • CITY OF ST. ANTHONY CITY COUNCIL WORK SESSION AGENDA October 5, 1999 7:00 PM City Hall Page(s) I. CALL TO ORDER. II. ROLL CALL. • III. PRESENTATION OF CITY'S 2000 BUDGET (see attached). IV. UPDATE ON PUBLIC WORKS FACILITY (see attached). V. TIF SUMMARY AND ST. ANTHONY SHOPPING CENTERISSUES . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 - 12 VI. DISCUSS FUTURE COUNCIL AGENDA ITEMS . . . . . . . . . 13 VII. OTHER BUSINESS. VIII. ADJOURNMENT. • MEMORANDUM DATE: October 26, 1999 TO: Mayor and Councilmembers FROM: Michael Mornson, City Manager ITEM: TIF As we discussed at the September 7`h and October 5`h Work Sessions, the City has approximately a $1.4 million fund balance in the Kenzie TIF account, less a two year lag on the Community Center bonds and any shortage in the Apache District. Due to a change in state law in 1999, the fund balance can only be used on projects outside of the District until December 31, 1999. It can still be used within the District until 2008, which is when the District is set to expire. In 1996, the City amended the TIF budget to allow the following activities to occur from any fund balances from the Chandler Place and Kenzie Districts. We have the option of either holding a hearing if we add activities to the plan, such as Hardies, or, we amend the budget in the current plan, • which would require a resolution and not a hearing. If we just wanted to amend the budget, I have proposed possible changes to the activities budget that the Council could consider. Project Activity Funds That Could Be Status Authorized- Not Yet Spent Redevelop vacant property between $233;000 No activity. Industrial Custom Products and the No change Amoco Station on 37' Avenue NE Bridge work along Silver Lake Road $270000 Project scheduled for 1999/2000 between 37`h Avenue NE and Silver $199;090 Lane Redevelop bowling alley property on �$1'0TOMI 0 No activity. Kenzie Terrace $40,000 Redevelop St. Anthony shopping Center $600000 No activity (we may want to area along New Brighton Boulevard and $60,000 increase this), add $600,000 Kenzie Terrace Redevelop vacant lots by Twin City $75000 No activity. . Federal No change • Redevelop 10 residential lots by Kenzie $4.Or0000 Have purchased 4 homes, plus add Kentucky Fried Chicken, pizza, $1-,050,000 spent $250,000 and will video properties and Firstar lot This will be de- purchase 1 more creased significantly Redevelop Apache Plaza area $40.Q`000 Spent $300,000 on CUB $5000 Foods project Streetscape within the City $250 0`9_9 No activity No change Total $2,328,000 In addition, if the Council would like to spend the fund balance outside the District prior to December 31, 1999, the following are some other projects that could be considered: 1. Purchase the approximately 58,000 square feet of green space adjacent to the Shopping Center. The price is unknown. I've increased the Shopping Center money from $60,000 to $600,000. If this is the only change we make, we can do that by a resolution. 2. Purchase the Hardies's property for redevelopment for an estimated $500,000. • If the Council would like to go in this direction, it would require an amendment to our TIF plan and a public hearing. Remember, the funds must be spent before the end of the year. The schedule for the amendment would be as follows: • October 12 Call for hearing • November 9 Hold hearing • December 31 Funds must be spent In addition, Bob Thistle has reviewed the amount of funds the City has available in the Chandler District. We are able to do everything from the 1996 plan amendment listed above, as well as additional projects from the Chandler District without the December 315` deadline. The Chandler District expires in 2010 and will have a total fund balance of$3,037,000. The fund balance at the end of 1999 is anticipated to be approximately $1 million. $160,000 will be added annually for the next 12 years. • DORS EY & WHITNEY L L P MINNEAPOLIS PILLSBURY CENTER SOUTH BILLINGS NEW YORK 220 SOUTH SIXTH STREET GREAT FALLS SEATTLE MINNEAPOLIS, MINNESOTA 55402-1498 MISSOULA DENVER TELEPHONE: (612) 340-2600 BRUSSELS WASHINGTON,D.C. FAX: (612) 340-2868 FARGO DES MOINES HONG KONG ANCHORAGE JEROME P. GILLIGAN ROCHESTER (612)340-2962 LONDON FAX(612) 340-2644 SALT LAKE CITY COSTA MESA gilligan.jerome®dorseylaw.com VANCOUVER September 21, 1999 Mr. Michael Mornson City Manager City of St. Anthony 3301 Silver Lake Road St. Anthony, MN 55418 Re: Kenzie Terrace TIF District Dear Mike: You have inquired about the effect of recent amendments to the Minnesota Tax Increment Financing Act on the Kenzie Terrace Tax Increment Financing District (the "Kenzie TIF District"). The Kenzie TIF District was established by the St. Anthony HRA and St. Anthony City Council on June 29, 1982, and the records of Hennepin County (which is the county in which the Kenzie TIF District is located) provide that the request for certification of the original value of the District was filed with the Hennepin County Auditor on June 29, 1982. The City Council and the HRA have approved amendments to the Tax Increment Financing Plan for the Kenzie TIF District which authorize the expenditure of tax increment from the Kenzie TIF District on certain activities located outside the geographic area of the Kenzie TIF District. Expenditure of tax increment derived from a tax increment financing district on activities outside the geographic area of the district is commonly referred to as "pooling" of tax increment revenue. The most significant expenditure of tax increment from the Kenzie TIF District for activities outside of the area of the Kenzie TIF District, is for payment of debt service on the bonds issued by the City in 1995 to finance the Community Center. In the past 4 or 5 years the State Auditor's office has received additional . enforcement powers with respect to tax increment hatters and has increased its review of expenditure of tax increment by public bodies through increased reporting requirements and DORSEY & WHITNEY LLP • Mr. Michael Morrison September 21, 1999 Page 2 auditing of the tax increment financing districts. Under the Tax Increment Financing Act tax increment financing districts are subject to different rules and restrictions based on the date of creation or certification of the district and the type of tax increment financing district. In connection with its enforcement activities the State Auditor has taken the position that the Minnesota Tax Increment Financing Act does not permit the expenditure of tax increment revenue derived from a tax increment financing district outside the boundaries of the district if the request for certification of the original value of such tax increment financing district was filed with the County Auditor after July 31, 1979 and before July 1, 1982. Since the request for certification of the Kenzie TIF District was filed on June 29, 1982, it is the position of the State Auditor that "pooling" is not permitted for the Kenzie TIF District. When the State Auditor has identified instances of tax increment revenue from tax increment financing districts for which the request for certification was filed with the County Auditor after July 31, 1979 and before July 1, 1982 being spent by a public body on activities outside the geographic area of the district, it has sought repayment of the expenditure by the public body to the affected taxing jurisdictions. We • have disagreed with this interpretation of the Tax Increment Financing Act by the State Auditor and have taken the position that expenditure of tax increment revenue for activities outside of the boundaries of the district is permitted for districts for which the request for certification was filed with the County Auditor after July 31, 1979 and before July 1, 1982. This issue was clarified by the Minnesota Legislature by the adoption of an amendment to the Tax Increment Financing Act at its 1999 Session. This amendment provides that for districts for which the request for certification was filed with the County Auditor after July 31, 1979 and before July 1, 1982, expenditures of tax increment for such districts may be made on activities located outside of the geographic area of the district if: (i) the expenditures are made before December 31, 1999; or (ii) the expenditures are made to pay bonds to which such tax increment was pledged before April 1, 1999; or (iii) the expenditures are made under binding written agreements secured by increments from the district if the agreement was entered into before May 31, • 1999. DORSEY & WHITNEY LLP Mr. Michael Morrison September 21, 1999 Page 3 This amendment is both good and bad news to the City of St. Anthony. The good news is that it removes any uncertainty concerning the legality of the prior expenditures of tax increment from the Kenzie TIF District on activities outside the geographic area of the Kenzie TIF District, and clearly authorizes the continued application of such tax increment to pay debt service on the bonds issued for the Community C enter and for Apache Plaza. The bad news is that the City may not issue any additional bonds payable from tax increment from the Kenzie TIF District to finance activities located outside the Kenzie TIF District, and that on or after December 31, 1999, no expenditures of tax increment from the Kenzie TIF District may be made on activities located outside the geographic area of the Kenzie TIF District. The amendment does not restrict the expenditure of tax increment from the Kenzie TIF District on additional activities located within the geographic area of the Kenzie TIF District. Certain steps can be taken by the City to mitigate the effect of this amendment on the City's. The City has pledged to the payment of the bonds for the Community Center tax • increments from both the Kenzie TIF District and the Chandler Tax Increment Financing District. The Chandler Tax Increment Financing District was established in 1985 and is not subject to the restrictions imposed by the Legislature on expenditure of tax increment outside the geographic area of the district. The City could use only the tax increment for the Kenzie TIF District to pay debt service on the bonds for the Community Center and this will result in additional tax increment being available from the Chandler Tax Increment Financing District for other authorized activities in the City. Also, until December 31, 1999 the City can continue to make expenditures of the tax increment from the Kenzie TIF District on activities outside the geographic area of the Kenzie TIF District. The law requires that the expenditure must be made before December 31, 1999, and merely committing to make the expenditure prior to such date is not sufficient. A second amendment to the Tax Increment Financing Act enacted by the Legislature at its 1999 Session may also impact the City. Presently tax increment may be used to finance a public park or a facility used for social, recreational or conference purposes. This authorization allowed the City to use tax increment to finance the Community Center. The Legislature amended the Tax Increment Financing Act to prohibit use of tax increment to pay for a public park or a facility for social, recreational or conference purposes. This amendment is effective for all tax increment financing districts, but does not apply to (1) expenditures made before January 1, 2000, (2) expenditures made under a binding contract entered into before January 1, 2000, or(3) expenditures made under a binding contract entered into pursuant to a • letter of intent with the developer or contractor if the letter of intent was entered into before January 1, 2000. Should the City wish to use tax increment revenue to finance a public park or a DORSEY & WHITNEY LLP • Mr. Michael Morrison September 21, 1999 Page 4 facility for social, recreational or conference purposes it will need to enter into a letter of intent or binding contract prior to the end of the year with respect to such facility. This amendment does not affect the City's ability to continue to use tax increment to pay debt service on the bonds issued for the Community Center. You should note that the amendment relating to use of tax increment for public parks or facilities for social, recreational or conference purposes, is a separate restriction from the restriction on the use of tax increment revenue from the Kenzie TIF District for activities outside the geographic area of the Kenzie TIF District. If the City enters into a contract or letter of intent before January 1, 2000 that allows the City to use tax increment revenue after such date to pay costs of a park or social, recreational or conference facility, increment from the Kenzie TIF District may only be used to pay such costs if the park or facility is located within the geographic area of the Kenzie TIF District. • Should you have any questions concerning this matter, please call me. Yours truly, ?rom P. Gilliga JPG:cmn cc: William Soth • Michael Mornson City Manager City of St. Anthony Village 3301 Silver Lake Road St. Anthony,MN 55418 RE St. Anthony Shopping Center Tasks and Responsibilities Dear Mike: As you requested,I have prepared a draft letter of understanding and the following list of tasks to be accomplished to complete the village green improvements. I have indicated the tasks, which I could accomplish if you and the Council approve. The illustrative site plan is part of the previous work. I am planning to be at the October Planning Commission meeting and the October City Council meeting to review both the illustrative site plan and the proposed revisions to the Kenzie Terrace Redevelopment Project Area Design Guidelines. Task Responsibility • Prepare draft letter of understanding RK • Meet with the owners and businesses and with Walker RK/KS • Prepare an illustrative site plan, revise Design Guidelines RK • Present illustrative plan and revised Kenzie Terrace Design Guidelines to Planning Commission and City Council for approval RK • Negotiate letter of understanding RK/MM/KS • Obtain survey of village green lands RK • Determine if any utilities need to be relocated WSB/RK • Prepare developers agreement RK/BS • Obtain Landscape Architects proposals for village green, pathway and transit stop construction plan RK • Negotiate with MDOT for improvements and ROW RK • Prepare MDOT agreements RK/BS • Negotiate with NSP for removal of overhead lines RK • 0 Negotiate with Walker for greenway easement RK/KS • • Present developers agreement,easements and NSP agreement to City and HRA for approval RK • Review Landscape Architect proposals for construction plans RK • Make recommendation to HRA for LA and draft contract RK/BS • Present contract for HRA approval RK • Oversee construction plan preparation RK • Review construction plans with developers MM/KS/RK • Review construction plans with businesses RK • Recommend construction plans to HRA for approval RK • Oversee construction plan revisions, if any RK • Oversee developer's construction contract process RK • Oversee construction,coordinate with WSB and LA RK • Recommend HRA/City acceptance of improvements RK/WSB Should you have any other questions or suggestions please call. Sincerely, Richard Krier, AICP Encl. RE: Letter of understanding St.Anthony Shopping Center The purpose of this letter is to out line the understandings reach between us. Once we have solidified our business understandings we will proceed with formalizing a developers agreement. Over the last several weeks we have reached the following understandings: 1. The attached master plan prepared by Tushie Montgomery(proposed master plan—option four) is acceptable to all of us. 2. The City will provide land for additional shopping center parking on the frontage road right- of—way as per the attached master plan. 3. The HRA will purchase easements for the village green as shown on the attached master plan and the subsequent survey to be prepared by the HRA. 4. The Developers will pay the cost of the improvements shown on the village green,transit stop and pathway portion of the master plan. The developers payment of improvement costs will be equal to the amount paid to the developers for the land easements. Any additional pre-approved improvement costs will be paid for by the HRA. 5. The HRA will retain a surveyor to determine the amount of land to be included in the village green from each of the developers. 6. The City will obtain an easement from the adjacent apartments to extend the village green to Kenzie terrace 7. The City will obtain MDOT approval for a transit stop and path improvements in TH 88 • Right-Of--Way. 8. The HRA will cause detail village green,transit stop and pathway construction plans including relocation of utilities if necessary to be prepared for city and developer approval. These detailed construction plans will be based on the master plan previously approved by all parties 9. The developers will build the village green,transit stop and pathway improvements and along with the land easements turn the improvements over to the city for ownership and maintenance purposes. 10. The developers will allow access to the parking lot for community events as part of the village green improvements. A detail schedule will be part of the developers agreement. 11. The City will cause to be prepared a survey of the property in the liquor store area and the frontage road. 12. The City and Republic will begin negotiations on the sale of the liquor store/fire hall land provide acceptable alternative locations for these uses can be fond. Attached to this letter is the agreed upon master plan. The Surveyor will verify this land area. Also attached is the location of the existing public utilities. The City engineer will be requested to verify the locations and determine if relocation is necessary.This is the full understanding reached to date. Sincerely, • K-ELLISON CO. REAL ESTATE DEVELOPMENT AND CONSTRUCTION SERVICES 7200 HUDSON BLVD ,SUITE 230, OAKDALE,1\I\ 55125 OFFICE 651-730-0100 FAX 651-730-0303 September 20, 1999 Mr. Mike Morrison Saint Anthony Village 3301 Silver Lake Road St. Anthony, MN 55418-1699 RE: The Hitching Post 2440 Highway 88 St. Anthony, MN Dear Mike: As we have discussed, the design for The Hitching Post has significantly increased the costs of the remodel and renovation of the old Town and Country Market for Mr. Furseth. Our design changes have dramatically increased the aesthetic appeal of the building and have resulted in an almost entirely new exterior of the building. It will look totally new in every respect and those people who remember what the Town and Country building looks like will not believe that it even is the same structure. These changes have been done in part in keeping with the vision that • the Village of St. Anthony has for the redevelopment of the shopping center and retail area. The Hitching Post, being the first renovation and redevelopment within this area must set the stage for the other projects yet to come. This has, of course, only come at a significant price increase over what Mr. Furseth had initially intended. As it has been mentioned at the Planning Commission and City Council meeting, we are requesting that the City provide us with some assistance in the additional costs that we have incurred by providing us with economic assistance for the site development and for the purchase of the land which the Hitching Post will provide for the new greenway. We request that the City purchase the land to be dedicated to the greenway at a price of$5.00/sf. At this time we estimate that there is approximately 20,000 sf that the City wishes to purchase and therefore we are estimating a value of approximately$100,000.00 for this land purchase. With respect to the site development costs, we offer the following as a budget guideline for what we will be expending based on the anticipated design to meet the City's preliminary plans for the greenway area. Landscape Design $ 750.00 Site Lighting Engineering $ 1,500.00 Civil Engineering $ 4,700.00 Site Lighting $ 17,500.00 Landscaping $ 26,000.00 • Repaving, resurfacing, and stripping $ 22,000.00 General Conditions $ 3,600.00 Overhead and Profit $ 5,000.00 Total $ 81,050.00 Mr. Mike Morrison September 20, 1999 Page 2 of 2 • The assistance provided by the City for the site development represents 7.5% of the anticipated total costs of the project. I believe that this is a significant bargain for the City in exchange for the improved tax base which will be provided by this property as well as the aesthetic upgrading of this significant redevelopment project in the City's main southern entry and shopping area. We respectfully request that the City Council provide assistance in the total amount of $180,000.00 for the purchase of the land and the improvements listed above. Please advise me at your earliest possible convenience as to the steps necessary to incorporate this request into the developer's agreement. I look forward to hearing from you regarding this matter. Re ectfiilly yours, James E. Kellison President JEK/jjv • c: Jim Furseth • DEVELOPMENT SUMMARY S' DEVELOPI+ENT SITE AREA - 635 7y39 SF (1456 ACRES) r VILLAGE 6REEN AREA 64101 SF (158 ACRES) ti0 • NORTH RETAIL BUILDIN6 SITE AREA '12526 SF (I18 ACRES) 6 NORTH RETAIL BUILDIN6 EXISTING EUILDIN6 AREA 45,950 SF 1* SOUTH RETAIL BUILDIN6 p EXISTING BUILDIN6 AREA 39383 SF EX15TIN6 DAIRY QUEEN 1115 5F NORTH/SOUTH RETAIL PARKINS 455 SPACES (44 5PAGE5/1000 SF OF RETAIL AREA) EXISTING EAST RETAIL BUILDIN6 11500 5F e� �w GN BUILDING 31,000 SF PARKING SPACES 67 SPACES (22 SPAGE5A000 5F OF RETAIL AREA) NEW OFFICE BUILDING 23,000 SF PARKING SPACES 101 SPACES V (43 SPAGE5/IOOO 5F OF RETAIL AREA) �� rrsns NT,M �K bK0 01 4-t Di 1U O W{MM IIIIII 111 Ila O �L II IIIIIIIIIIIIIIIIIIII�_ �IlnnnnnlrlTnT�T� 4IK b/b N Tush e Montgomery CO Associates • m.o. .� In v. r� O \ ( rCIN Dewe-—So=P " 's 3300 E6nbarouo Way, •601 °m At woapoft,A&Msota 55435 6t2-830-8208 fax 830-8:1" rA v J ^ ®eaa.Im KM O , Y\ ft P k-YN �L1 KN 2md(( WN p G ..P."rI�°�Y u93 ov a 9 6110 mor tna°Dr..3ane nro. ra 33343 RLK-K"leto Project - 'IMSM O PROPOSED MA5TERPLAN - OPTION EIGHT v a .w• eowo• ��a SCALE St. AnthonyShopping Center Area Date: October 18, 1999 Proposed Masterplan - Option Eight I CITY OF ST.ANTHONY 2 CITY COUNCIL WORKSESSION MINUTES 3 September 7, 1999 0 7:00 P.M. 6 I. CALL TO ORDER. 7 Meeting called to order at 7:00 p.m. 8 9 II. ROLL CALL. 10 Councilmembers present: Ra.nallo,Marks, Faust,Thuesen,and Cavanaugh. 11 Councilmembers absent: None. 12 Also Present: Michael Mornson, City Manager, Kim Moore-Sykes, Management Assistant;Roger 13 Larson, Finance Director;Jay Hartman,Public Works Director; and Todd Hubmer,WSB& 14 Associates, Inc. 15 16 III. REVIEW 29'x`AVENUE NE STREET AND UTILITY IMPROVEMENTS PROJECT (T. 17 Hubmer,WSB, Inc.) 18 The City Manager reported that this item will be on the Council agenda for the September le 19 meeting. He also informed the Council that he will send out a notice to the property owners residing 20 on 29h Avenue advising them of the meeting and inviting them to attend. 21 22 Hubmer reviewed the proposed project and the timeframe. Councilmember Thuesen voiced his 23 disappointment with the feedback from the residents on 29's regarding sidewalks. He indicated that 24 he felt this was a golden opportunity to install them at the same time as the street improvement was 25 being done. 26 IV. REVIEW SANITARY SEWER STUDY(T. Hubmer,WSB, Inc.) Hubmer presented the results of the sanitary study that he completed. He reported on two primary 29 issues that the City needs to resolve regarding the sanitary sewer system;high flow rates generated by 30 infiltration/inflow and these flows exceed available capacity in some of the existing sewer lines 31 causing occasional sewer backups. Hubmer reported that records indicate that the City experiences 32 the highest flow rates in March and April because of the thawing that takes place at that time,and the 33 frozen ground is unable to absorb the run off so it seeps around building foundations were the 34 ground is thawed. He added that if there is considerable rain during this time, it further compounds 35 the problem. Hubmer reported that this water is usually collected by the structure's drain tile that 36 carries the water away from the foundation by gravity and it drains into the sanitary sewer system. He 37 reported that this drain tile system was a very popular residential construction technique in the 1950's 38 and 1960's to handle storm water,which kept it out of the basements. , 39 40 Councilmember Faust asked Hubmer if he had any data for years 1990 and 1991 because there was a 41 lot of rain during the spring thaw and remembered that there was extensive flooding in several homes. 42 The Mayor reported that a diversion plan with the City of Roseville was tried several years ago but 43 this plan only provided partial relief. He also indicated that the City has an emergency diversion plan 44 with the City of Minneapolis and is used only in the event of an emergency. 45 46 Hubmer reported that the study identified several sanitary sewer deficiencies that if corrected,would 47 provide some reduction in the high infiltration/inflow rates in the City's sanitary sewer system. He 48 fisted twelve areas where the sanitary sewer lines had either inadequate capacity or were impacted by limited downstream capacity and surcharging. Hubmer stressed that the primary source of the infiltration/inflow appears to be from private property foundation drain tile and possibly improper 51 connections of the sump pump to the sanity sewer. Hubmer reviewed his recommendations as listed 52 in the WSB Sanitary Sewer Study. He reported that if these capital improvement recommendations 1 are implemented,the City may realize a 30% reduction of infiltration/inflow annually,which 2 translates into a$16,000 savings. 3 The Council asked Hubmer to continue working with Staff and to come back in 60 days with an implementation and funding plan and a project schedule. 6 7 V. DISCUSS 33RD AVENUE NE STREET AND SIDEWALK IMPROVEMENTS. 8 The City Manager presented a proposal from SHE/RCM for engineering services for 33d Avenue NE 9 street and sidewalk improvements from Silver Lake Road to Stinson Boulevard. 10 11 VI. REIVEW TAX LEVY AND BUDGET RESOLUTION AND OTHER BUDGET ISSUES. 12 The City Manager reviewed information regarding the City Fund Balances and the proposed levy 13 resolution. He also reviewed Council meeting dates through the end of the year. 14 VII. REVIEW HENNEPIN COUNTY ROAD MAINTENANCE AGREEMENT 15 RESOLUTION. 16 The City Manager presented the 2000/2001 County Road Maintenance Agreement contract between 17 the City and Hennepin County. He reported that the contract price will remain the same for the year 18 2000 but will increase by 3% in 2001. He indicated that this agreement will be on the agenda for the 19 September 14'h Council meeting. 20 21 VIII. REVIEW METRO TRANSIT AGREEMENT RESOLUTION. 22 The City Manager reported that Metro transit is requesting that the City agree to participate in their 23 bus stop sign installation,replacement and maintenance program. He indicated that the Metro Transit 24 wants City Staff to do the work and the City will be reimbursed by the Metro Transit. Jay Hartman, 25 Public Works Director,said that the Public Works department is able to do this work. 26 The City Manager indicated that this joint powers agreement will on the next Council meeting agenda 9 for their approval. 29 30 IX. REVIEW METROPOLITAN LIVABLE COMMUNITIES RESOLUTION. 31 The City Manager reported that participation in the Livable Communities is up for annual renewal. 32 He reported that while the City continues to meet its livability and affordability benchmarks,as a 33 result of the City's participation, the City is eligible for certain funding that would not otherwise be 34 available. He indicated that this resolution will also be on the next Council meeting agenda for the 35 Council's approval. 36 37 X. REVIEW CRITERIA FOR BUSINESS ASSISTANCE. 38 The City Manager reported that as of August 1, 1999 the City is required to hold a public hearing to 39 develop criteria for awarding business subsidies. The City Manager explained that because the 40 legislation is so complicated, he will be working with Jerry Gilligan to put together a presentation for 41 the City Council. 42 43 XI. REVIEW STUDY ON FINANCING VARIOUS CITY PROJECTS. 44 Bob Thistles of Springsted Public Financial Advisors, presented the financial capacity and debt plan 45 that he developed for the City. He discussed the goal of the study,which was to provide assistance to 46 the City in how to best use its resources in funding future capital improvements. Thistle also 47 provided information and advice on various funding mechanisms that the City could use to fund 48 identified capital projects. 0 XII. DISCUSS FUTURE COUNCIL AGENDA ITEMS. 51 The City Manager reviewed future Council agenda items with the Council. He indicated that he 52 would be adding the stoplight at 37"and Highcrest to the September 14' Council agenda for 53 discussion. 1 2 The City Manager also reported that he received a letter from the City Attorney regarding the Lowry 3 Manufactured Home Park fence that encroaches onto the City right-of-way. He indicated that will continue to work with the City Attorney on this issue. Councilmember Faust indicated that he had some concern regarding the City's potential liability associated with this issue. 6 7 XIII. ADJOURNMENT. 8 The City Council worksession meeting adjourned at 9:55 p.m. 9 10 Respectfully submitted by, 11 12 13 Kim Moore-Sykes, 14 Management Assistant • •