Committee of the Whole

Committee-Of-The-Whole Meeting Minutes September 5, 2017 Mayor Nold called the Committee-of-the-Whole meeting to order at 7:00 PM. Members Present: Aldermen Schmidt, Strey, Kowieski, Miller, Rosek, Shaw and Ellis Excused: Alderman Zwart Staff Present: Mayor Nold, Kitsembel, Sullivan, Buerger, Gallo, Duffy, Frye, Kelliher, Pickart, Osborn and Coenen Others Present: Atty. Riffle 2. Presentation/Overview of Proposed Amendment #1 of the Project Plan for TID #6: Duffy gave a Power Point presentation outlining the TID #6 Amendment #1 for the downtown E. Wisconsin Ave – St. Paul St Redevelopment Plan stating the district boundaries will not change. The purpose of the amendment is to add an additional $2.5M of financial incentive, as requested by the Fowler Lake Village (FLV) developer, to allow them to construct another 32 to 36 parking stalls within their development. The increase to the project cost remains as a pay-go financing method. By adding parking this will lessen the burden on existing public parking and increases the development’s overall property value by $10M. The TID would now close in 2030, one more year than originally planned. Next Duffy went over the amendment timeline and process. Kitsembel stated a financial analysis is in process by Ehlers and Assoc. to determine feasibility. Riffle stated parking and incentives will be addressed in the Developer’s Agreement, which needs to be approved before they can start the project. Motion by Kowieski to adjourn the Committee-of-the-Whole meeting; second by Strey. Motion carried 7-0. The meeting adjourned at 7:12 PM. Minutes taken by Diane Coenen, City Clerk S:\Committees - Commissions\Committee-of-the-Whole\Minutes\2017\C-O-T-W Min 9-5-17.doc