09-14-1998 CC MIN - Laserfiche WebLink

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City Council Minutes September 14, 1998 Page 5 Pat Klaers indicated that petitions have been received from developers of the large residential project and the commercial/industrial park project. He further explained that based on the two appraisals, staff is comfortable with the $6,000 per acre assessment proposal. Discussion followed regarding thee need for the TIF funds as part of the project and the overall commercial redevelopment TIF proposal. Mayor Duitsman indicated he would like to see a maximum of a 10 year district, but he is aware that funds are needed to finance the lift station and to extend the sewer and water under Highway 169. Councilmember Dietz asked for clarification on the deficits for the project. Pat Klaers indicated that better information is available now and the financial numbers have improved but a shortage in all the components of the project still exists. He noted the following issues have yet to be determined: - how much TIF assistance can be applied to this project, while keeping the life of the TIF district as short as possible; - how to best use the state and federal funding sources, how to provide the city 20 percent match, and how to keep the involvement of the city's MSA funds to a minimum; and, - how to fund for right of way acquisition north of County Road No. 12 Terry Maurer indicated that $3 million in federal funding has been committed to the project. Pat indicated that this will provide some benefit to the surface water management deficit. Discussion followed regarding the public hearing to be held on September 28th. Councilmember Holmgren requested that the September 28th public hearing be taped for broadcasting on cable television. Terry Maurer explained that the sewer and water project and the street/storm sewer project are separate and will be bid at different times. He felt that once the sewer and water project is bid, they will have a better understanding of the road project. Mayor Duitsman indicated he would like to have the bids back before the assessment hearing in order to be more certain that the $6,000 per acre proposed assessment amount was accurate. Pat Klaers indicated that it would be desirable for the Council to come to a decision on whether to build the large project or the small project at the September 28th meeting, so that better information can go out with the bids. MAYOR DUITSMAN MOVED TO INCLUDE THE AREA BETWEEN THE MISSISSIPPI RIVER AND HIGHWAY 10 IN THE EAST ELK RIVER IMPROVEMENT PROJECT. COUNCILMEMBER THOMPSON SECONDED THE MOTION. THE MOTION CARRIED 5-0. COUNCILMEMBER FARBER MOVED APPROVAL OF RESOLUTION NO. 98-98, A RESOLUTION RECEIVING THE FEASIBILITY REPORT AND ORDERING A PUBLIC HEARING ON THE IMPROVEMENT IN THE MATI'ER OF THE EAST ELK RIVER PHASE I IMPROVEMENT