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MINUTES FOR THE CITY COUNCIL MEETING FOR THE MORNING OF JUNE 3, 2002 <br />Mayor Fran Miron called the meeting to order at 8:00 am. <br />PRESENT: Granger, Haas, Petryk, Puleo, Miron <br />City Administrator, Michael Ericson <br />CD Director, John Rask <br />City Engineer, Dave Mitchell <br />Fire Director, Ron Otkin <br />Public Works Director, Chris Petree <br />Tom Junnila, representative of Schwieters Properties <br />DISCUSSION OF TAX INCREMENT FINANCING DISTRICTS <br />CD Director John Rask, Finance Director Ron Otkin, Paul Steinman, and Mikaela Hout from <br />Springsted Financial Advisors, discussed the shortfalls in the City's TIF District. The shortfalls are <br />primarily attributed to the tax law changes of 2001. The shortfalls exist because the amount of actual <br />tax increment is less than the amount agreed upon in the individual TIF agreements for each business. <br />Based upon the terms of the TIF agreements, the businesses are financially responsible for the <br />shortfalls. The financial advisors and staff updated the Council on this issue and looked for direction <br />from the City Council on how to proceed. The financial advisors and Finance Director Ron Otkin <br />discussed the fiscal impacts to the businesses and the City. Council discussed the issue of whether <br />relief from the City should be considered for the businesses. Council agreed that a meeting with <br />businesses was necessary to explain the issue. They agreed that the City is a partner with the <br />businesses. The TIF District would generate over $2 million, which may have to be spent within the <br />next three months. A portion of which would go to the traffic signal at 1400 StreeV TH61. Council <br />agreed that further discussion was necessary. <br />Petryk made motion, Granger seconded, to continue a workshop meeting on Wednesday, June 12, <br />2002, at 8:00 am in the Oneka Room. <br />All aye. Motion Carried. <br />DISCUSSION OF 13 ACRES IN BEIP (LINDEN PROPERTYI <br />CD Director John Rask presented a new proposal to Council to consider the construction of a cul-de- <br />sac on the City's 13 -acre parcel of land immediately adjacent to the last parcel of land owned by <br />Tom Jackson. This proposal would allow the City to split the parcel of land into more manageable <br />lots on which 40,000 to 50,000 sq ft buildings could be built. City staff recommended Council <br />consider construction of a cul-de-sac onto the City's 13 -acre parcel. John stated that an ALTA <br />survey would be helpful to market the City's property. Ron Otkin shared with Council the history of <br />the improvement bonds that were used to construct Fenway Blvd. Tom Junnila shared with Council <br />a concept plan for development of the entire site that Schwieters Properties is interested in. Council <br />discussed the sale of the property further. <br />Haas made motion, Petryk seconded, directing staff to : 1) negotiate and authorize purchase <br />agreements on the property; 2) prepare an ALTA survey; 3) talk with Tom Jackson for interest in <br />