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Finance Director Lund reviewed the Staff report concerning the policy for reimbursement of land <br />proceeds and tax increment for the COR. <br /> <br />Acting Mayor Riley asked why they are going to be pushing back on paying back TIF. <br /> <br />Finance Director Lund explained that TIF #1 and #2 are not like the current TIF districts, as they <br />allow spending outside of the TIF areas. She noted that these are not as restrictive as other TIF <br />districts; however, they are more restrictive than other City funds that she would prefer to make <br />whole through these reimbursements. <br /> <br />Acting Mayor Riley asked why they needed to reimburse these funds at all. <br /> <br />Finance Director Lund said that if they do not use these funds as reimbursement, then they have <br />to give them back to the County. <br /> <br />City Administrator Hagen explained that if TIF #14 does not generate enough revenue by 2040, <br />then these are the funds that would make the most sense not to pay back over something like the <br />water and utility funds. <br /> <br />The consensus of the Council was to move forward with the amendments to the policy for <br />reimbursement of land proceeds and tax increment for the COR. <br /> <br />2.05: Review of 2026-2035 Capital Improvement Plan (CIP) <br /> <br />Finance Director Lund reviewed the Staff report in regard to the 2026-2035 Capital Improvement <br />Plan. <br /> <br />City Administrator Hagen added that a majority of the requests on this list are existing <br />infrastructure and equipment. He noted that there should not be any major surprises in this plan. <br />He explained that they review the CIP for the following year ahead of budget season to build in <br />the items requested for the following year. <br /> <br />Councilmember Riley noted that there are a number of wells on the list. He asked if they are <br />currently allowed to build wells. <br /> <br />City Engineer/Public Works Director Westby said he is not sure; however, they need to start <br />planning for these wells regardless. He noted that he is not aware of any current restrictions on <br />building wells. He said the Met Council has been doing a lot of studies on groundwater, but he is <br />not aware of any kind of restrictions on wells. <br /> <br />Finance Director Lund shared that well #9 has been in the CIP since 2016, and well #10 has been <br />in the CIP since 2024. <br /> <br />Councilmember Specht asked if they had discussed a better system to determine when vehicles <br />need to be replaced. <br /> <br />City Council Work Session / November 10, 2025 <br />Page 3 of 7 <br />