Agenda - Council - 09/11/2001 - Laserfiche WebLink

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-30- built the water tower and T.H. #47 using TIF Funds so for people t .,~:~tter understand how TIF works, he suggested that staff put together some type of analys~7'%,~catlng what TIF produced in a way of revenue, and how much was expended to provide tlSe~p~vements that the business required to come to Ramsey. '~' :' City Administrator Norman stated that by reviewing the development agreement staff could determine site hnprovements and public improvements. Councihnember Hendriksen inquired if staff kept track of how much TIF is collected in each TIF District. Finance Officer Lurid replied yes. Councilmember Hendriksen stated that out of each TIF district there were certain expenditures which included enticements to get a business to Ramsey and other that benefited Ramsey as a whole. TIF Specialist Sullivan noted that he can put together those numbers, but it will take some time to go through the development agreements, but he needs to know what the Council considers a public or private benefit. Councilmember Hendriksen stated that if a business was not assessed for a street then that would have been a benefit. He asked staff to make rough estimates of what the benefit is, determine what it cost the City to bring the business to Ramsey, and what the City will collect from the TIF district. TIF Specialist Sullivan replied that the trouble with doing that is that the City has not paid off the obligations yet so it would be easier to look at the obligation as a whole. Councihnember Hendriksen replied that he was comfortable with that. Case #6: Replacement of Police Department Fax Machine Finance Officer Lund stated that recently the fax machine utilized several times daily by the Police Department broke and is now in need of repairs. An estimate to repair the older unit exceeds the value of the machine. The Police Department was currently without fax abilities. The 2002 proposed budget included a request for a replacement fax machine. There is currently sufficient money in the Equipment Replacement Fund to cover the ma,~ority of the cost for a new machine. Additional funding, if needed, would come from the Police Department's miscellaneous office supplies line item account. Staff recommends review and approval by the Finance Committee to allow the Police Department to'obtain quotes and then purchase a new fax machine, comparable to the existing unit, not to exceed $1,00.00. Staff requested adoption of a resolution to allow the transfer of money from the equipment replacement fund to cover the cost of a new machine. " Finance Committee/August 14, 2001 Page 6 of 7