ITEM 6.1 SCC 1.8.2018 MinutesITEM 5_y
OTSEGO CITY COUNCIL SPECIAL MEETING
OTSEGO PRAIRIE CENTER
JANAURY 8, 2018
6:00 PM
Call to Order.
Mayor Stockamp called the meeting to order at 6:02 PM.
Roll Call: Mayor Jessica Stockamp; Councilmembers: Vern Heidner, Jason Warehime and Corey
Tanner. Absent: Councilmember Tom Darkenwald.
Staff: Adam Flaherty, City Administrator/Finance Director; Daniel Licht, City Planner; Ron
Wagner, City Engineer; Andy MacArthur, City Attorney and Tami Loff, City Clerk. Also present:
Applicant Casey Darkenwald and John Darkenwald and Representatives Darren Lazan, Colten
Baird, Mike Morgan, and Nick Anhut, Ehlers.
1. Financial Assistance Request from Otsego Apartments, LLC.
This is a follow up from the December 11, 2017 meeting. City Administrator/Finance Director
Flaherty reviewed the request and where we left off at the previous meeting. The applicant,
Darren Lazan, presented the revised financial assistance request for $1.9 million. He reviewed
the three scenarios.
The City's financial consultant, Nick Anhut, Ehlers, reviewed the financial information and
calculations. He outlined that after an analysis of the applicants pro -forma, that there is an
illustrated need in financing that could be filled with tax increment financing if the Council
chooses to do so.
Mayor Stockamp questioned the phasing of the project. The City Council concurred it's the first
time they have heard of the phasing. Mr. Lazan said the southern portion of the building and
the amenities will be Phase 1 and the north half of the building will be Phase 2. Applicant Casey
Darkenwald stated that the phasing has been presented previously when the project was first
brought forward and discussed with City staff. There was discussion on if the second phase
doesn't occur. This would be addressed in the Development Agreement.
The City Council stated concern with the project and request constantly changing. After
discussion they concurred to go forward with the Public Hearing scheduled for February 12,
2018 at 7:00 PM.
2. Adjourn.
CM Warehime motioned to adjourn. Seconded by CM Tanner. All in favor. Motion
carried 4-0. The meeting adjourned at 6:59 PM.
ATTEST:
Tami Loff, City Clerk
1/8/18
Mayor Jessica Stockamp
1IPage