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City Council Minutes Page 3 <br /> June 19,2017 <br /> ----------------------------- <br /> 6.2 Comprehensive Annual Financial Report for Year Ended December <br /> 31, 2016 <br /> Ms. Ziemer introduced Lucas Chase and Michelle Hoffman,representatives from <br /> CliftonLarsonAllen.Ms. Ziemer thanked city staff for their work throughout the <br /> year. <br /> Ms. Hoffman provided an overview of the audit. There were no internal control or <br /> legal findings. She stated the city will need to monitor the garbage fund because the <br /> change in fund balance and operating cash flows are in the negative. <br /> Moved by Councilmember Wagner and seconded by Councilmember Ovall to <br /> accept the Comprehensive Annual Financial Report for the City of Elk River <br /> for the year ended December 31, 2016. Motion carried 5-0. <br /> 7.1. Simple Plat: John Lenz, Elk River Screw Job <br /> Mr. Leeseberg presented Mr. Carlton's staff report. <br /> Mayor Dietz opened the public hearing, there being no one to speak to this issue, <br /> Mayor Dietz continued the public hearing to July 17, 2017. <br /> Moved by Councilmember Olsen and seconded by Councilmember <br /> Westgaard to continue the public hearing to July 17, 2017. Motion carried 5-0. <br /> 7.2 Beaudry Oil/Truck Shop - 620 Quinn Avenue and 623 Proctor Avenue <br /> A. Zone Change from C4 (Community Commercial) to 12 (Medium <br /> Industrial) <br /> B. Conditional Use Permit to Establish Truck Storage Maintenance <br /> and Repair Facility <br /> C. Preliminary and Final Plan for New Resources Addition <br /> Mr. Leeseberg presented the staff report for all three applications. He noted if <br /> Council denies the zone change they also have to deny the conditional use permit <br /> because the business would not be a permitted use in the C4 District. <br /> Ms. Othoudt discussed project financing. She stated, as part of the Master Plan, they <br /> are considering creation of a Tax Increment Financing District (TIF). She stated the <br /> TIF District would help create revenue in order to acquire and demo properties for <br /> new development. She stated, as part of the Master Plan, the maintenance facility <br /> could shift to the north and Proctor Avenue could be connected to Quinn Avenue, <br /> which would create better access for the properties located on 6`h Street. She noted <br /> the revenue generated will not be enough to cover all the costs associated with <br /> acquisition, demolition, and site preparation. She stated three different funding <br /> sources would be utilized: Storm Water Fund, Street Improvement Fund, and <br /> Pavement Management Fund. She noted the revenue generated from the TIF <br /> District would be allocated back into these funds. She stated the District can't <br /> p 0 W I R 1 9 ® r <br /> NATURE] <br />