2019.04.23 CC Minutes - Laserfiche WebLink

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April 23,2019 Page 7 of 9 approving the Modification of the Development Program for Development District No.1,Expanding , the Development District,Establishing a Tax Increment Financing District,and Approving a Tax Increment Financing Plan Therefor. Councilmember Burg stated she wanted the public to not be taken in by fear but rather understand that this development was a really great thing for the community. She explained the new housing would provide residents with more options while also increasing the number of affordable units in New Brighton. Mayor Johnson added that this property has been blighted and vacant for years. She indicated the property was not on the tax rolls and was asking to be redeveloped. Councilmember Jacobsen commented on the number of TIF districts the City has had in the past and reported over half had decertified and were on the tax rolls. He stated this benefited all residents in the City. Councilmember Allen explained this project provided the City the opportunity to shape the figure of this site while also providing affortdable housing units to the residents ofNew Brighton. Council Business 5 Ayes,0 Nays-Motion Carried 1. Consider 1 St Quarter 2019 Interim Council Business Financial Statements. 1. Consider 1st Quarter 2019 Interim Financial Statements. Motion by Councilmember Jacobsen,seconded by Councilmember Dunsworth to accept the First Quarter 2019 Interim Financial Statements. City Manager Lotter indicated Finance Director Davitt would be presenting this item to the Council. Finance Director Davitt stated in an effort to keep the Council informed on the City's fiscal condition,a comparison ofthe 2019 revenues and expenditures for the period ending March 31,2019(unaudited)was reviewed with the Council. The comparison shown includes those programs and services that constitute the City's core functions for which changes in financial trends can have a near-term impact on the ability to maintain current service levels. Programs such as debt service and tax increment financing which are governed by pre-existing obligations and restricted revenues are not shown. In addition,expenditures in the City's Fleet and Non-Fleet programs are not shown as these expenditures are specifically tied to pre-funded asset replacement funds. These replacement funds are not susceptible to year-to-year fluctuations and therefore annual reviews are considered sufficient.It was noted the information is presented on a modified cash basis accounting method,which measures only the actual revenues that become available and measurable,and expenditures are recognized in the period the liability is incurred. It should be noted that many ofthe City's revenue streams such as property taxes,are non-recurring or are received intermittently throughout the year. This can result in wide revenue fluctuations from month to month. In addition,some of the City's expenditures such as new capital purchases are also non-recurring and subject to wide fluctuations. To accommodate these differences,a comparison is made to historical results to identify whether any new trends exist. Staffprovided further comment on the first quarter financials and requested Council approval. Commission Liaison 5 Ayes,0 Nays-Motion Carried Reports, Announcements and Updates Commission Liaison Reports, Announcements and Updates Dean Lotter City Manager Lotter reported the City's health insurance programs were being evaluated by staff as part of the 2019 budgeting process. He explained this matter would be further addressed by the Council later this year. He thanked the Council for supporting the hire of additional IT staff and noted the Council would receive a year in review from this department at an upcoming worksession meeting. He commented the IT Department would be working to update all City computers to Windows 10 in the coming months. He stated the City's website was being reviewed at this time as it was approaching three years in age. He reported body