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BRKTr[ON <br />the city that works for you <br />Council Worksession <br />August 11, 2015 <br />5:00 pm <br />Present: Mayor Dave Jacobsen <br />Councilmember Gina Bauman <br />Councilmember Brian Strub <br />Councilmember Paul Jacobsen <br />Councilmember Mary Burg <br />Absent: <br />Staff in Attendance: Dean Lotter, Janice Gundlach <br />Guests in Attendance: Jason Aarsveld, Jean Vouk and Mark Ruff -Ehlers & Associates <br />Tax Increment Financing Plan Update/New Brighton Exchange Financial Dashboard U date <br />Lotter explained staff had a presentation for the Council on TIF with regard to the New Brighton Exchange. <br />Gundlach provided the Council with a brief presentation noting the last TIF management plan update was <br />completed in 2012. She indicated that all districts were performing well for the City. <br />Mark Ruff, Ehlers & Associates, introduced Jason Aarsveld to the Council. He indicated Jason worked jointly <br />with himself on New Brighton financial issues. He then reviewed the outstanding TIF districts in the City in <br />detail with the Council and reported the City had no major issues with its tax increment districts. <br />Jean Vouk, Ehlers & Associates, commented Marv's Transmission TIF district was the only district struggling <br />at this time. This district may not be able to repay its expenses due to the fact costs were higher than originally <br />anticipated. In addition, revenues were less than expected. <br />Mr. Ruff indicated that the City could charge less interest for this district to improve the situation. He <br />explained this was a financial decision that would have to be made by the City Council. He discussed how <br />property values and tax rates impacted TIF districts. <br />Ms. Vouk explained how the City would be impacted when the NBE TIF districts expired and the properties <br />were back on the tax rolls. <br />Further discussion ensued regarding a letter received from the State Auditor. <br />Gundlach provided comment on the NBE dashboard. She commented the NBE dashboard was last updated in <br />2014. She reported that staff would be updating the TIF district map. She noted Lots B and D were still <br />available for development. She explained that the EDC would be reviewing potential concept plans for these <br />lots at their next meeting with Ryan and Colliers. Staff was pleased with the increased market value of the <br />properties within NBE. <br />Councilmember Bauman questioned how confident the City was that CSI would be expanding their site. <br />Gundlach reported that CSI was doing very well. She commented that if the company were to expand she <br />