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26; receive bond bids on June 9; begin construction June 15; complete <br />construction November 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 incr~nent to do the project. <br /> <br />CITIZEN INPUT <br /> <br />Councilmember Cox stated that a councilmember from 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 Hamilton - 6650 Hwy ~10 - Pequested 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 />o~ner 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 proposal 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 />Mr. Hartley - Replied that the public hearing was advertised in the <br />official newspaper and the City newsletter; individual hearing notices were <br />not mailed because the project is not proposed to be assessed. <br /> <br />Don Hassler - 6660 Hwy. 910 - Inquired if the trunk lines will be extended <br />into other areas than 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 homeowners. <br /> <br />Motion 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 />The public hearing adjourned at 8:03 p.m. <br /> <br />Respectfully suk~nitted, <br /> <br />Sylvia Frolik <br />Secretary <br /> <br /> ...'.,,/ ..?' ,~-; z~./..,,,~ ://...~,: <br /> /t. / <br />David Hartley <br />City Administrator <br /> <br />City Council Public Hearing/¥mrch 31, 1987 <br /> <br />Page 2 of 2 <br /> <br /> <br />