1985-10-08 - Laserfiche WebLink

Home Browse Search

I Council Meeting Minutes October 8, 1985 Benke stated he understands that events may limit lOB authority altogether; restrictions will be so severe that we will only be able to fund traditional services; and stated that bonds may no longer be tax-exempt. In response to Janecek's question, Poston explained that the $500,000 cost minimum had been eliminated so the projects would not be based on a limit. Janecek suggested modifying the first line of Item 4 on Page 3 concern- ing refunding the fee above the non-refundable amount; Harcus suggested a change on Page 2, Item 3.h., concerning volunteers for the New Brighton Volunteer Fire Department. Motion by Schmidt, seconded by Harcus, to WAIVE THE READING AND ADOPT A RESOLUTION ESTABLISHING A POLICY FOR INDUSTRIAL/COMMERCIAL REVENUE BONDS AND TAX-EXEMPT MORTGAGE FINANCING, WITH THE ADDITION OF "ABOVE THE NON- REFUNDABLE AMOUNT" ON PAGE 3, ITEM 4, AND WITH THE REWORDING OF ITEM 3.h. ON PAGE 2 TO READ "WILLINGNESS OF BUSINESS TO AGREE IN WRITING TO NOT DISCOURAGE ITS EMPLOYEES FROM VOLUNTEERING TO SERVE ON THE FIRE DEPARTMENT. I 4 Ayes - 0 Nayes, Motion Carried In response to Benke's inquiry, Winkels stated that the City of New Brighton's Tax Increment Financing program has been used as an example locally at state legislature, and at a legislative .conference in February of 1985 where there was a panel on TIF. Winkels further indicated that we have been used as an example in Milwaukee by Miller & Schroeder (the Winfield project). Sinda reintroduced Poston to speak on the establishment of a finance policy for flood control capital projects. Poston stated the proposed policy is a mix of several considerations. Basically, property-owners within each drainage district would bear a portion of the cost of the capital project required for that drainage district, that portion being twenty-five percent (25%) and seventy-five percent (75%) to be born by the city as a whole through general levy. Poston explained that city parks, city property, and city streets would be excluded from a district and would increase the charge for the property-owners; the charge could be put on the water bill or a special assessment on property tax, or whatever other means deemed appropriate by the city. I Schmidt asked LeFevere's opinion of the policy. LeFevere stated the policy is legal, supportable,and flexible, allowing for various methods of collecting the twenty-five percent; to use a method other than special assessments would require further action from council. Page Three Finance Policy - Flood Control Projects Report 85-292 Res. 85-115