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City Council Minutes 09-13-2021 SpecialMINUTES SPECIAL MEETING MONTICELLO CITY COUNCIL Monday, September 13,,2021 — 5 p.m. North Mississippi Room, Monticello Community Center Present: Lloyd Hilgart, Jim Davidson, Brian Hudgins, and Sam Murdoff Absent: Charlotte Gabler Others: Rachel Leonard, Sarah Rathlisberger, Angela Schumann, Matt Leonard, Ron Hackenmueller, Tom Pawelk, Tracy Ergen, Mike Mossey, Jim Thares, and Jennifer Schreiber 1. Call to Order Mayor Hilgart called special meeting to order at 5 p.m. 2. Preliminary Levy Discussion Sarah Rathlisberger, Finance Director, provided a final review of the 2022 budget and levy. The preliminary levy is planned to be adopted on September 27, 2021. Ms. Rathlisberger noted that Xcel Energy's Tax Capacity decreased by 7%. This means the city property tax from the plant is going to decrease by 4%. Mayor Hilgart indicated that he would like a meeting with the County Assessor to better understand the valuation process. There was also discussion about calling the remaining balance of the 2014A bonds early. The call date is December 15. This would lower the general obligation debt outstanding and reduce the annual debt levy by over $500,000. Calling this bond early would free up approximately $4 million to bond for future projects. 3. Chelsea Commons Discussion Rachel Leonard, City Administrator, gave a presentation on the proposed project items, including a summary of staff's approach to implementing the vision, financial tools and land use tools to achieve the goals of the project. There was discussion about project costs and the impact on taxpayers. Project costs below $5.5 million won't directly impact the taxpayer. There was discussion on the projected taxable market value. Mayor Hilgart expressed that he thought the projected taxable market value would be higher than the $122.4 million with full build -out. Councilmember Murdoff questioned the market value of the property if the City didn't proceed with the project. Angela Schumann, Community Development Director, noted that she will contact Tammy Omdahl for a projected market value of the property with the commercial zoning status. Councilmember Hudgins requested information not only on cost to build but also the cost to maintain. It was noted that the information will be provided at the September 27 meeting as part of the Chelsea Commons Small Area Plan. Rachel Leonard commented that there will be a breakdown of costs of what would be included if the City bonded for $7.9 or the baseline scenario improvements. City Council Special Meeting Minutes — September 13, 2021 Parkland and zoning were then discussed. Angela Schumann recommended that the area be zoned a PUD and to zone the 100 -acre development including the area that is already developed. Council was supportive of staff proceeding with baseline improvements. 4. Adjournment By consensus, the meeting was adjourned at 6:08 p.m. 1 i Recorder: Jennifer Schreib dm/(I&, x Approved: Attest: City dm`st ator City Council Special Meeting Minutes — September 13, 2021