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26; receive bond bids on June 9; begin construction June 15; complete <br />construction Novenber 1; water tower would not be completed until into <br />1988. <br /> <br />Mr. Hartley gave a presentation of projected incoming tax increment <br />revenues that he has reviewed and updated using a conservative approach; <br />after subtracting debts, there is a surplus of over $100,000 each year; <br />there is sufficient tax increment to do the project. <br /> <br />CITIZEN Ik~UT <br /> <br />Councilmember Cox stated that a councilmember frc~ Ham Lake was impressed <br />with Ramsey's conservative approach to sewer and water improvements using <br />tax increment financing; Ham Lake proceeded with no projected incoming <br />revenues to pay for the improvements. <br /> <br />Ed H~mLlton - 6650 Hwy %10 - Requested a copy of Mr. Hartley's presentation <br />on projected incoming tax increment. Mr. Hartley provided Mr. Hamilton <br />with a copy. <br /> <br />Steve Gorecki - Noted that the proposed connection charge to the property <br />owner would be $7,000/acre for sewer and water and inquired if that figure <br />is before or after tax increment participation. <br /> <br />Mr. Raatikka- Replied that $7,000/acre is the charge regardless of tax <br />increment financing. That figure reflects the normal connection fee .for <br />trunk services. This propossl provides for no tax increment financing to <br />be used for part of the costs of the project. <br /> <br />Councilmember COx - Inquired if public hearing notices were sent out° <br /> <br />Fz. Hartley - Replied that the public hearing was advertised in the <br />official newspaper and the City newsletter; individual hearing notices were <br />not ~_iled because the project is not proposed to be assessed. <br /> <br />Don Hassler - 6660 Hwy. %10 - Inquired if the trunk lines will be extended <br />into other areas t~.an the commercial/industrial area. <br /> <br />}~. Raatikka - Stated that the improvements are intended to serve the <br />industrial/commercial area; they can be ex~ended to residential areas upon <br />request by the hc~eowners. <br /> <br />F~tion by Councilmamber COx and seconded by Councilmember DeLuca to adjourn <br />the public hearing. <br /> <br />Motion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, COx, <br />DeLuca and Pearson. Voting No: None. <br /> <br />?ne public hearing adjourned at 8:03 p.m. <br /> <br />Respectfully su~nitted, <br /> <br />Sylvia Frol ik <br />Secretary <br /> <br /> .."/ .. I,, ~ _.. .~ <br /> <br />David ~artle~v <br />City Administrator <br /> <br />City Council Public Hearing/¥mrch 31, 1987 <br /> <br />Page 2 of 2 <br /> <br /> <br />