2024.05.28 Special City Council MinutesSPECIAL OTSEGO CITY COUNCIL MEETING
TUESDAY, MAY 28, 2024
5:30 PM
OTSEGO PRAIRIE CENTER
Call to Order:
Mayor Stockamp called the meeting to order at 5:30 PM.
Roll Call:
Mayor Jessica Stockamp and Councilmembers: Tina Goede, Brittany Moores, Jeff Dahl, and
Ryan Dunlap. City Staff: City Administrator/Finance Director Adam Flaherty, City Planner
Daniel Licht, and City Clerk Audra Etzel.
1. 2025 Budget Review —Debt Service &Special Revenue Funds:
City Administrator/Finance Director Flaherty presented the budget meeting #2 materials as
included in the packet.
Flaherty reviewed the eight special revenue funds and noted that only the three tax increment
district funds have adopted line -item budgets. The Council discussed staff developing additional
programs or uses for the contributions from Vireo Health Donation fund. The Council reviewed
allowed expenditures from the Lawful Gambling fund. Flaherty said the Development
Revolving Fund received $53,757 for affordable housing aid and anticipate the same amount
being received in 2024. The Council likes having the funds available to offer loans for
businesses. Flaherty said the Tax Increment Financing (TIF) funds can be returned to the taxing
districts once the district ends. The Council discussed different options for TIF, funding, and
right of first refusal for the City owned properties. The Council concurred with the information
as presented.
Flaherty reviewed the two debt service funds: 2018A (paid off in 2034) and 2020A (paid off in
2028). The Council concurred with the information as presented.
The Council asked about using the TIF funds for other projects. Flaherty said he would need to
check with Ehlers.
Flaherty noted the next budget meeting the Council will review Capital Project Funds within the
Capital Improvement Plan (CIP) that have proposed tax levies.
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MINUTES OF THE CITY OF OTSEGO SPECIAL CITY COUNCIL MEETING MAY 28, 2024
2. Adjourn.
CM Goede motioned to adjourn at 6:41 PM, seconded by CM Dahl. All in favor. Motion
carried 5-0.
ATTEST:
Audra Etzel, City Clerk
City of Otsego
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