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MEDINA CITY COUNCIL MEETING MINUTES OF FEBRUARY 17, 2009
The City Council of Medina, Minnesota met in special session on February 17, 2009 at
6:03 p.m. in the Medina City Hall.
I. Call to Order
Members present: Weir, Siitari, Smith, Johnson (arrived at 6:22 p.m.)
Members absent: Crosby
Also present: City Administrator Chad Adams, City Engineer Tom Kellogg,
Finance Director Jeanne Day and Financial Consultant Shelly Eldridge
H. Uptown Hamel Tax Increment Financing (TIF) Cash Flow Analysis
Adams provided an overview of the staff memo that provided background of the TIF
District and cash -flow analysis, in-district/out-district expenditures, possible future public
improvements in the district, as well as Staff analysis and recommendation.
Adams introduced Shelly Eldridge, City Financial Consultant with Ehlers and Associates.
Eldridge provided an overview of the displayed cash -flow analysis that was included in
the regular Council meeting packet. She explained the various columns of the analysis
and stated with current conservative assumptions that a tax levy would be needed in
about the year 2014. The assumptions include 0% inflation for 2010 and 2011 and 2%
thereafter. The assumptions do not presently include any TIF increment from the areas
north of Highway 55 (Medina Clydesdale Marketplace, etc.).
Johnson arrived at 6:22 p.m.
Following discussion of the cash -flow analysis and staff recommendations, the Council
agreed to direct staff to:
1. Explore land acquisition parcels in Uptown Hamel for municipal parking
2. Proceed with a monument sign in Uptown Hamel
3. Provide a cash flow analysis in two months on the estimated cost for land
acquisition to include market valuation and tax increment data north of Highway
55
4. Research potential market value changes or devaluations in Uptown Hamel
5. Determine what market value would be needed to establish a net zero to get to the
end of the tax district without a tax levy
6. Proceed with an economic development program as outlined in the 2009 Work
Plan.
Jim and Dave Willis, representing Wranglers Restaurant, questioned if their project
would be assisted by the direction provided by Council. Adams replied not immediately,
but the City would be exploring a broader economic development strategy/program in
Medina City Council Special Meeting Minutes
February 17, 2009
54
2009. Adams advised he and Staff are available to meet with them if they need further
details.
III. Adjournment
The meeting was adjourned at 6:48 p.m.
Carolyn ith, Acting Mayor
Attest:
‘A 4-4444,.
Chad M. Adams, City Administrator -Clerk
Medina City Council Special Meeting Minutes
February 17, 2009