Minutes - Council - 04/25/2000 - Laserfiche WebLink

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proposed costs of water tower #2 and well #5 are $1,870,000 and $440,000, respectively. It is proposed that funding for tower #2 will consist of $1,211,000 in TIF funds with the remainder being paid from the utility funds. Well #5 will be funded in total from TIF funds. TIF funding will be financed from the issuance of $1,695,000 in General Obligation Tax Increment Bonds. Springsted Incorporated, the City's financial advisor, has requested that the Council consider setting a sale date for said bond. Staff recommends that Council adopt the proposed resolution. Motion by Councilmember Anderson and seconded by Councilmember Zimmerman to adopt Resolution #00-04-102 providing for the competitive negotiated sale of General Obligation Tax Increment Bonds, Series 2000B in the amount of $1,695,000 to fund the construction of water tower #2 and well #5. Motion carried. Voting Yes: Mayor Gamec, Councilmembers Anderson, Zimmerman, Connolly, and Hendriksen. Voting No: None. Absent: None. Case #2: Request for Preliminary Plat Approval of Valley View; Case of Philip Johnson Community Development Director Frolik explained that Philip Johnson is requesting preliminary plat approval to plat two existing homes on 38.7 acres in the rural residential district into four single family lots. The property is located north of Green Valley Road, west side of Vanadium Street NW. Three lots will have access from a westerly extension of 178th Lane and the fourth lot has an existing access on Green Valley Road. The Planning Commission recommended approval of the Preliminary Plat contingent upon compliance with City Staff Letter dated March 30, 2000. Councilmember Hendriksen asked about making provisions for public road access to the adjacent parcel to the west. Community Development Director Frolik stated staff walked the property and looked at options to extend the roadway. They found a lot of wetland directly to the west so the decision was reached that access from Green Valley Road would adequately serve the property to the west. City Engineer Jankowski stated discussions were held whether or not the road should be extended to the west limits of Mr. Johnson's plat. He stated there is high land north of the County ditch, but there is low land as well. It is likely the two parcels immediately to the west will develop with a cul-de-sac extending north from Green Valley Road, similar to this project. Councilmember Hendriksen asked why the road is not being extended to the west so the next property has the ability to develop with a continued, westerly extension of 178~. City Engineer Jankowski stated the unknown is a logical layout for the area north of the County ditch that has marginal soils. Mr. Jankowski stated that if this plat is approved as proposed, there is no possibility to extend 178th west. He noted that the zoning in this area requires ten acre City Council/April 25, 2000 Page 6 of 29