CITY OF HUDSON COMMON COUNCIL

SPECIAL MEETING MINUTES OF FEB. 20, 2008 – 5:00 P.M.

 

 

     Meeting called to order by Mayor Jack Breault in the Council Chambers of City Hall at 5:00 p.m.

    

PRESENT:   Mayor Breault and Alderpersons Randy Morrissette, Dennis O’Connell, Paul Radermacher, Lee Wyland, Alan Burchill and Scot O’Malley.

 

OTHERS PRESENT:  Devin Willi, Denny Darnold, Dean Knudson, Betty Caruso, Catherine Munkittrick, Sean Lentz, Brian Riley, Lori Bernard, David Selissen and Teicko Huber.

 

Meet with Ehlers & Associates to discuss financial issues and the possible closure of Tax Incremental District #4:  Sean Lentz of Ehlers & Associates, announced that the purpose of the meeting was to review and discuss the closing of Tax Increment District No. 4, and its impact on the City’s future capital and financial planning.  It was noted that the TID was created in 1995 and most of the debt issued was in 1995 with the initial setup of St. Croix Business Park. 

 

The presentation included a 12-page packet of material which was placed file in the Clerk’s office.  The information indicated the current status of the TID, the process to close the District, and the impact for the creation of a new TID.  Information was shared regarding the City’s total levy and equalized mill rate.

 

Three options were presented regarding closure of the TID and ways to proceed.  Option No. 1 would close the TID with the goal of dropping the total mill rate; Option No. 2 would close the TID with the goal of maintaining the current mill rate; and Option No. 3 would close the TID with the goal of partially lowering the current mill rate and paying for new Capital Projects.

 

A Five Year Financial Management Planning strategy was discussed, as well as options for how to proceed.  It was recommended that a meeting be held with current Council members and Spring Election candidates in order to determine how to proceed.  It was noted that May 15th was a key date in the timeline, and Council direction was needed by then in order to know which way to move forward.

 

Finance Officer Betty Caruso provided information regarding the current levy limits imposed in 2008, as well as the complexity of the debt structure.  She shared information regarding the amount for operating expenses.  Administrator Willi will coordinate and schedule the next meeting date.

 

MOTION by O’Malley, second by O’Connell to adjourn at 5:48 p.m.  All ayes (6).  MOTION CARRIED.

 

 

Nancy J. Korson, City Clerk

 

 

     I hereby certify that the City Clerk has submitted the foregoing minutes to me, and I hereby by my signature approve said minutes and all acts of the Common Council as sent forth therein.

 

 

Jack D. Breault, Mayor