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<br />Mr. Ruff noted that the City of New Brighton has over 10% of its tax rate in TIF. He believed this was <br />not costing the City a whole lot due to the fact the Council was fiscally responsible with its financial <br />management. He noted that the recession was over and home values were on the rise, which would <br />continue to have positive effects on the City and its tax base. <br /> <br />A member asked how the City’s finances would be impacted over the next five years as TIF districts <br />decertify. <br /> <br />Mr. Ruff indicated he did not have a summary with this information but could provide a rough <br />estimation. He anticipated that the City would have an extra $250,000 a year in new taxes that will <br />result in the decertification of the TIF districts. <br /> <br />Councilmember Bauman was encouraged by the City’s financial position. <br /> <br />Mr. Ruff further reviewed the development that has occurred on each block of NBE and provided <br />comment on how the City would be impacted through new taxes. He reported there was a depressed <br />office market at this time, but this would improve over time. <br /> <br />Chair Zisla questioned how close Pulte was to hitting their estimated numbers for development. <br />Gundlach explained that the Pulte Homes development was going very well and noted the 36 <br />townhomes would begin this fall. She commented demand has been quite high for these homes and the <br />value on the single family homes has been higher than was originally anticipated. <br /> <br />Chair Zisla inquired what the build out value of the NBE blocks would be. Mr. Ruff reported that Block <br />B would be worth $10 million, Block D would be worth $6 million, the APi site would be worth $19 <br />million and the CSI site would be worth $24 million. <br /> <br />Chair Zisla was pleased by the progress being made on NBE since 2012. <br /> <br />Mr. Ruff agreed and stated that if all City bonds were paid on time and interfund loans were paid the <br />City would have a $9 million cash balance in 2036. He discussed how the City would be impacted if <br />the second phases of APi and CSI were not completed, noting this could lead to a negative. <br /> <br />A member noted that even if APi and CSI did not complete Phase II for their properties, the sites could <br />build out in different manners. Mr. Ruff stated this was the case. <br /> <br />Chair Zisla questioned if the City received proceeds from land sales for any of the NBE blocks. Mr. <br />Ruff reported the City received a substantial amount from APi for the land sale. Gundlach indicated the <br />City received land sale proceeds from Pulte Homes and $1 million of it was placed in escrow for <br />environmental costs and this was 100% expended. <br /> <br />Chair Zisla requested that staff bring forward potential design plans for Block B and Block D within <br />NBE. Gundlach stated that staff was prepared to bring these plans forward to the EDC. She explained <br />that the concept plans for Block B was more challenging environmentally. She believed that a 150,000 <br />square foot office building would make the most sense for Block B. She noted that Block D was across <br />the street from a trucking terminal and the EDC may want to consider a New Brighton Commons-like <br />area with a warehousing component. She discussed the future of Block J noting APi was pursuing a <br />heli-pad. The heli-pad has yet to be approved by the City due to the fact a Zoning Code Amendment <br />and Special Use Permit would be required. <br /> <br />Commissioner Garcia-Perez questioned how often the heli-pad would be used. Gundlach stated that APi <br />was anticipating that the heli-pad would be used once monthly.