Agenda - Council - 11/14/2000 - Laserfiche WebLink

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funded by a comb[nation of revenue sources which may include TIF revenues, s~¢~'a], assessments, utility, fees, and bonding· City revenues would increase with the new spurred along the Highway #10 corridor. The usage revenue alone could pay for:~;:~ost o construction of the sanitary sewer and water trunk lines in a 10 to 15 year period. Mayor Gamec replied that the key ~s the commitment on the development p:~,~: City Administrator Norman replied that that was correct. The Ci~(~houldr'~oLmove with the project unless the City starts entering into development a~e'~fi~ witKd'~velopers. Councilmember Hendfiksen inquired if staff is proposing t~(~' entire e~(ension be completed C~ty Adm~mstrator Norman rephed yes. ~5~;;' '~:4~:~0~; ~¢:;,G~~' Economic Development Authority member Blaha inquired-~':ithere ~s a cost savings y completing the project all at once. . "~¢, Mayor Gamec replied that it may be.P~'~le .to receive a bener bid by ~pldtihg the project at Councilm~ber Hendfiksen st~t'~d that*~ CiW might:,:f~ aom¢ cogt:"sav~gs, but not enough to cover the debt the CiW would occur if'~are is p~ lea~:'~a~. He questioned what the approximate l~d consumption rate was for:.ge ~ Industff~'~P'ark. CouncU~er Hendfikse~:¢plied ~at th~-~e~ would have avmlab~h, for 100 ye~s City noted mat fi~&t of the prope~y would be residential w~ch sells at a Council~ber Hendhk~St~t-~d~, that he does not thi~ ~e Ci~ should use its co~ercial space for re;fd~tial devet~ Op-~3nt when businesses will need to be ~e t~ base for ~e Mayor Gamec:-~lied that Cere ~e some cities ~at have focused on industrial development rather than resi'~tial ~d ~ow ~ey do not have the people to suppo~ the industrial p~k. ' :~'~auncilme~B~r Hend~sen stated that fhe Ci~ of Rmsey is not [n d~ger of having to much Co~er~alTindustfial development. -50- City Council/September 26, 2000 Page 4 of 5 I I I I I I I I I I i I