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<br />Councilmember Look stated he would like to go on record as saying he is not very pleased with <br />the games the State is playing - they reduce our Market Value Homestead Credit - then the <br />municipalities can levy that back to the people - that's a tax increase. Additionally, there is a <br />6.75 million dollar takedown of the Town Center property. In the eye of the constituent, they <br />will say they are paying for this property. That is potentially a big problem. The Option 3 - zero <br />percent property tax increase - that's not true. You are indeed seeing an increase because the <br />property value has gone down. Weare talking about a half million-dollar difference. It's time to <br />make some tough decisions. <br /> <br />Councilmember Elvig commented that we have a lot of investments and a lot of opportunities <br />but it takes time to get things in the ground. He stated he is trying to evaluate cash ,flow - we <br />have to maintain and nurture these investments. He inquired if there is a cash flow impact in <br />regard to our investment. <br /> <br />Finance Officer Lund replied that we are using other funds right now. <br /> <br />Councilmember Dehen stated that we do have potential equity. He added he wants to get rid of <br />the land and added that we are expected to give this land away. He did think we would be able <br />to get 6.5 million dollars for it. <br /> <br />Councilmember Wise stated that in 2004/2005, the City had a staffing'level of about 70. We are <br />talking about getting back to these numbers. If you believe things are not going to turn around, <br />then you have to believe these funds will get bled down. We do not believe these economic <br />situations will go on forever. We cannot afford to maintain the tax capacity rate because if we <br />start raising that because the 2012 taxes go up - the rate goes up. You are talking about an <br />increase in the property tax. <br /> <br />Councilmember McGlone stated that St. Francis is selling off parkland to put more on the tax <br />rolls and reduce maintenance costs so there are more things we could do here. He did not want <br />to give away the Town Center. We need to refocus our efforts. If our revenue changes - where <br />are we - are we back to 2005? We just need to move on. <br /> <br />Councilmember Jeffrey asked if we put something in the ground today, when do we realize the <br />tax benefit to which Ms. Lund responded two years. <br /> <br />Councilmember Elvig stated that for a number of years we lived off the permits and fees charged <br />- investment is the key. <br /> <br />Councilmember Dehen talked about a possible Bass Pro Shop and the V A Clinic and stated <br />that's cheapJand and he is concerned about that. <br /> <br />Councilmember Look asked if the difference between Option 1 and Option 3 is staff. <br /> <br />Ms. Lund stated that staff positions and adding extra amounts in to bring it to zero; $144,000 of <br />$500,000 is staff estimated. <br /> <br />City Council Work Session <br />Page 4 of 10 <br />