HomeMy WebLinkAbout19981229_year_end_meetingMINUTES
OF THE YEAR END MEETING OF THE
EDINA CITY COUNCIL
HELD AT CITY HALL
DECEMBER 29, 1998 - 5:OO P.M.
ROLLCALL Answering rollcall were Members Hovland, Kelly, Maetzold, and Chair Smith.
1999 YEAR END BUDGET FORECAST REVIEWED Manager Hughes presented the year
end budget forecast for the City's General Fund revenues and expenditures. Following a brief
Council review and discussion, receipt of the forecast was accepted.
CLAIMS PAID Member Kelly made a motion approving payment of the following claims
as shown in detail on the Check Register dated December 23, 1998, and consisting of 14
pages: General Fund $85,830.86; Communications $4,500.00; Working Capital $20,125.30;
Golf Dome Fund $939.12; Golf Course Fund $8,355.58; Ice Arena Fund $1,167.10;
Edinborough/Centennial Lakes $286.30; Utility Fund $11,053.42; Storm Sewer Utility Fund
$3,491.72; Liquor Dispensary Fund $174,827.60; Construction Fund $12,838.65; Park Bond
Fund $83.07; TOTAL $323,498.72. Member Hovland seconded the motion.
Rollcall:
Ayes: Hovland, Kelly, Maetzold, Smith
Motion carried.
RESOLUTION APPROVING TIF DISTRICT AMENDMENTS ADOPTED Manager
Hughes explained that Attorney Gilligan and the City's Financial Advisors, in order to clarify
plan amendments that were formally approved in 1988 and 1990, recommended approval of
amendments from both the HRA and the Council. The plan amendments pooled increments
from the 50th & France, Edinborough, Centennial Lakes and Southdale Tax Increment
Financing Districts into a common fund for debt service and project related costs. The
proposed Resolutions clarified the purpose and intent of these prior plan amendments and
established a budget for the pooling. Staff recommends approval of the Resolution.
Member Hovland introduced the following resolution and moved its approval:
RESOLUTION APPROVING AMENDED BUDGET
FOR TAX INCREMENT FINANCING PLAN
BE IT RESOLVED, by the City Council of the City of Edina, Minnesota (the "City"), as
follows:
I. Proposed Amended Budget. - The City has approved a development program and
development district pursuant to Minnesota Statutes, Sections 469.124 to 469.13, and in
order to finance the costs to be incurred by the City in connection with the
development program, the City has established a tax increment financing district, as
defined in Minnesota Statutes, Section 469.174, subdivision 9, designated by the City as
the Southdale Tax Increment Financing District (Hennepin County No. 1204) (the
"District"). It has been proposed that the City modify the tax increment financing plan
for the District by approving amendments to the budget for the District (the "Amended
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Budget”). The Amended Budget does not increase the bonded indebtedness to be
incurred or increase the total estimated tax increment expenditures by the City and
approval of the Amended Budget does not require the notice, public hearing,
discussion and findings required for approval of the original tax increment financing
plan for the District.
2. Use of Tax Increment in Other Tax Increment Financing - Districts. Among other things,
the tax increment financing plan for the District authorizes the use of the increment
from the District to pay project costs and debt service on the bonds authorized by the
tax increment financing plans for Centennial Lakes Tax Increment Financing District
(Hermepin County No. 1203) (“TIF District 1203”) of the Housing and Redevelopment
Authority of Edina, Minnesota. Pursuant to such authority the Amended Budget
includes a transfer of $1,399,306 from the District to TIF District 1203. Such prior
authorization to make such a transfer is hereby ratified and confirmed.
3. Approval of Amended Budget. - The Amended Budget has been presented to this
Council and are ordered placed on file in the office of the City Clerk, and the Amended
Budget is hereby approved.
Dated this 29th day of December, 1998.
I Mayor
Attest:
Member Kelly seconded the motion.
Rollcall:
Ayes: Hovland, Kelly, Maetzold, Smith
Resolution approved.
APPOINTMENT TO MINNEHAHA CREEK WATERSHED DISTRICT BOARD OF
MANAGERS UPDATED Manager Hughes noted the prospective candidate for appointment
to the Minnehaha Creek Watershed District Board of Managers has been contacted about his
interest in serving on the Board. No response has been received at this time.
There being no further business on the Council Agenda, Mayor Smith declared the Year End
Meeting adjourned at 5:25 P.M.
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