City Council Study Session

City of Spearfish City Council Study Session Minutes June 14, 2023, 4:15 p.m. The City Council Study Session was called to order by Mayor Senden at 4:15 p.m. in the Council Chambers of City Hall on Wednesday, June 14, 2023. The following c o u n c i l members were present: Clark, Hodgs, Hourigan, Klarenbeek, and Rath. Absent: Jacobs. City staff present were: City Administrator McFarland, City Attorney McDonald, Finance Officer DeNeui, Public Works Director Broyles, City Planner Kapsa, and Assistant Public Works Director McMahon. Hourigan moved, Klarenbeek seconded, and all voted to amend the agenda to remove item 2A. Hourigan moved, Hodgs seconded, and all voted to approve the agenda as amended. Items for Council Discussion: Capital Improvement Plan Overview – Administrator McFarland provided an overview of the Capital Improvement Plan. The plan provides guidance on the use of public funds for large projects over approximately 25 various funds of the city. Having a sound plan will assist in getting necessary resources in place without taking on too much debt and keeps budgets balanced. The workforce housing capital project fund will be covered independently on June 28, 2023. Tax Increment Finance District Overview – City Planner Kapsa reviewed what a Tax Increment Finance District (TIF) is, the various classification types of TIFs, what costs can be covered by TIFs, and the City’s standards for TIFs. Additionally, a review of the six individual TIF districts that have been utilized in Spearfish was made. Finally, a new TIF request was reviewed for a two 95-100 unit mixed-income apartment building project on Hill Street. More information will be provided during the City Council regular session on Tuesday, June 20, 2023 regarding the request. City Council Agenda: Draft Agenda – The draft agenda for the June 20, 2023, City Council Regular Session was previewed. The public comment period was opened at 5:03 p.m. and closed with no comments being received. No additional discussions were held and with a motion from Hodgs, seconded from Hourigan, the meeting was adjourned at 5:04 p.m.