ITEM 3.2C SCC 5.8.2017 MinutesITEM 3.2C
SPECIAL CITY COUNCIL MEETING
OTSEGO PRAIRIE CENTER
MAY 81 2017
*7:00 PM
Mayor Stockamp called the meeting to order at 9:18 PM.
Roll Call: Mayor Jessica Stockamp; Councilmembers: Vern Heidner, Corey Tanner and Jason
Warehime. Absent: Councilmember Tom Darkenwald. Staff: Adam Flaherty, City
Administrator/Finance Director; Ron Wagner, City Engineer; Daniel Licht, City Planner; Andy
MacArthur, City Attorney; and Tami Loff, City Clerk. Also Present; Guardian Angels Chief
Executive Officer Dan Dixon; Guardian Angels CFO Troy Hanson; and Guardian Angels
COO/Operations Andrea Swayne; Ron Touchette, Rock Solid; and Nick Anhut, Ehlers.
1. Review Financial Assistance Requests from Guardian Angels.
This is a follow up from the April 24 special meeting. Nick Anhut, Ehlers, presented the financial
and "But For" Analysis for Riverview Landing TIF request. He stated the findings demonstrated
Guardian Angels need for assistance to achieve the 1.20 bond coverage ratio. However, he said
in his opinion, the need does not meet the full 26 years requested. Mr. Anhut stated the
recommendation would be to provide assistance for between 12 to 15 years. The developers
stated that 1.20 coverage was necessary to underwrite and reasonably place the bonds.
CM Heidner asked about the building permit fees. Ron Touchette, Rock Solid, said those would
be paid as normal.
Mr. Touchette said they are asking if the bond issuance fees received by the City on the conduit
debt issue could go towards improvements to the park. City Administrator/Finance Director
Flaherty said that amount is about $135,000. He further stated that right now that fee would go
into the Economic Development Fund; the City Council would need to make the decision to
apply those fees towards park improvements.
Mr. Touchette reviewed the tangible and intangible community benefits of this proposed project
as presented in the memo from Guardian Angels.
After discussion and review of the materials presented the City Council concurred to wait for CM
Darkenwald to make a decision. The City Council discussed setting two special meetings and
for City Administrator/Finance Director Flaherty to verify CM Darkenwald can attend one or the
other date. Noting the other then can be canceled.
Mayor Stockamp called for a Special Meeting on Monday, May 15, 2017 at 6:00 PM
and Monday, May 22, 2017 at 6:00 PM to Review Financial Assistance Request from
Guardian Angels both to be held at Prairie Center, 8899 Nashua Avenue NE.
Seconded by CM Heidner. All in favor. Motion carried.
Mayor Stockamp said if this is approved; an agreement will need to be drafted and reviewed for
resident use.
2. Adjourn.
CM Warehime motioned to adjourn. Seconded by CM Heidner. All in favor. Motion
carried. Adjourned at 10:52 PM.
Mayor Jessica Stockamp
ATTEST:
Tami Loff, City Clerk
*Directly following the regular scheduled meeting.