[Music] [Music] [Music] good evening and welcome to to the March 17th city council meeting if you join me
for a moment of silence in the Pledge of Allegiance United States of America nation Snider roll call please V here heler here Burl here Walter here Lee here we'll move on to item three citizens comments as an opportunity for those in
the audience to address the council for up to three minutes you can just approach state your name and address good evening first of all happy St Patty's Day name is Kurt mikas I live at 17265 North Creek Lane and that's the
famous North Creek trailer park you know the one that's all the bad people live in yeah that's me um I'm here to ask the city council to possibly put on agenda a motion where we could get a jake break
ordinance I've been in contact with Dakota County cuz I already called the city and they said it's a County Road on Pilot Knob in Highway 46 and I'm asking you guys to possibly get an ordinance Dakota County said if
you have an ordinance they will put the signs up and it'll make it a little bit more quieter for us residents on Pilot Knob and Highway 46 CU we have all these nasty semis coming down with no mufflers and you
probably heard them all the way down to first gear and it's not an emergency they do it just because they love to hear their exhaust so if you possibly could I'd appreciate it if you could do something about this and make our lives a little
more quieter thank you thank you Mr mikas we'll I'll follow up with you thanks any other citizen comments okay moving on uh item number four any additional agenda information Mr Miller
nothing to nightmare uh moving on to presentations introductions so I wanted to just take a moment um we're going to do a proclamation recognizing kilo on his retirement and also honoring sergeant Tom Danielson and I'm going to turn it over to council member Burl to
read a proclamation then I think the chief had some remarks as well thank you uh Proclamation recognizing kilo the K9 on his retirement and honoring sergeant Tom Danielson for his service
whereas the city of Lakeville takes great pride in recognizing the dedication and service of its law enforcement officers and K9 units and whereas kilo a valued K9 member of the Lakeville police department has
honorably served the community with distinction loyalty and unwavering commitment and whereas throughout his years of service Hilo has played a crucial role in protecting the citizens of Lakeville by assisting in criminal
apprehensions narcotics detection search and rescue operations and Community engagement and whereas kilo's service has contributed to the safety and well-being of the Lakeville Community demonstrating the invaluable partnership
between law enforcement officers and their canine counterparts and whereas after years of dedicated service kilo has retiring from active duty and the City of Lakeville wishes to extend its gratitude for his commitment and
performance and whereas sergeant Tom Danielson kilos Handler has demonstrated exceptional leadership dedication and professionalism in his role strengthening the effectiveness of the K9 unit and fostering positive community
relations and whereas Sergeant Danielson is transitioning to new duties within the Lakeville Police Department and his contributions to the K9 program and Public Safety efforts will be remembered with great appreciation now therefore the Lakeville
city council formally recognizes and expresses its deepest gratitude to kilo for his years of service and congratulates him on a well-earned retirement be a further resolved that the city of Lakeville honors sergeant Tom Danielson for his dedicated Service
as kilo's Handler and his ongoing commitment to law enforcement and be it finally resolved that the mayor and City Council on behalf of all residents extend their best wishes to kilo and his retirement and to Sergeant Danielson in
his new role proclaimed this 17th day of March 2025 by mayor Luke M hiler very good chief [Laughter] that reaction a lot thank you you guys
come on so I just want to take a minute to to uh further recognize Sergeant Danielson and Kila we have a plaque here that we'll be uh handing over this evening so this is in recognition of kilo's nine years of service to the Lakeville Police Department uh 2016 to
2025 he officially retired from Duty on March 2nd so a little over two weeks ago um but canines are such an essential tool for a police department uh and Sergeant Danielson has put an immense amount of work into uh training and handling kilo I think when uh when new
officers are hired and come through and we ask them what they want to do in their career K9 Handler is one of the most sought after positions until they realize what goes into it um this isn't a tool that you tuck away in your locker at the end of the shift and come back the next day and grab this is something that's with you
uh all day all night uh whether you're working whether you're on vacation this is uh these dogs are there with those handlers all the time because of that is a unique bond that that gets formed obviously uh and they partner up and do an outstanding job and I know it was highlighted but the community engagement
aspect I think uh there's over 85 documented events and certainly many others that are U just uh much less formal and and undocumented but just a great tool for us to break down that barrier and connect with people everybody seems to love coming up with dogs and and coming up to dogs and kilo
is a very social dog that has allowed that uh but when it's time to work he gets to work to so in recognition of uh kilo and Sergeant danielson's years of K9 handling service we're here to present a plaque and we're happy that we're only losing half of this tandem to retirement as uh Tom's official first
day as a sergeant is today so congrats congrats [Applause] [Laughter] good boy great I'm locked in on that thing
yeah it's going to tear your arm off oh all right thank you Sergeant Danielson and chief Paulson and K enjoy your retirement buddy um moving on to item six our consent agenda any items you'd like to highlight Mr Miller two tonight
item 6 C is a resolution uh with the Minnesota Department of Transportation uh this is more commonly known as a safe rosta School Grant so this is a $615,000 Grant That'll go toward their reconstruction and re expansion of 185th Street this summer so we're very appreciative of that Grant and then item
6p is a resolution appointed members to advisory boards committees and commissions these were based upon decisions interviews that the Council made um a few weeks ago so thank you to everybody who stepped up and volunteered for those very good I EO that uh any
Council any items you'd like to discuss further otherwise I'll take a motion I move to approve the consent agenda okay is there a second second any further discussion all those in favor say I I I post okay the consent agenda passes
we'll now move on to item seven a a Marketplace at Cedar preliminary plat and conditional use permit and I believe we have the applicants here or staff report or who's who's going first okay good evening Miss goodroad mayor
members of the council I just want to introduce um J Moore with opin um do you want to say a couple things and then I'll get started good evening mayor and fellow council members uh my name is Jay Moore opid and Investment Company 400 Water Street Excel
Minnesota uh we've been at this now for over a year but I think our plan is coming together and you know in sweet time things hopefully will uh come together as as a nice project here for the city and so um we have been working
with City staff um with Chris and Tina along the way and I do have Mitch from isg engineering if we have any technical questions but uh I think the plan in front of you should be pretty straightforward tonight and we're here to answer any questions if you have
them very good thank you all righty well happy St Patrick's Day all right so um Abid investment companies requested approval of preliminary plat for nine commercial lots and five out lots to be known as Marketplace at Cedar they're also
requesting a conditional use permit to have a lot without public Street Frontage so the property is located at the corner of 179th in Cedar and you can see it's just across the street from Crossroads of Lakeville which is to the north um of 179th
and then the um Central maintenance facilities is just to the west of this property and then there is a variety of different town home developments around the area and then the existing parking ride is to the South um the zoning on this property and
land use is both mixed use so it's Corridor mixed use for land use and it's um zoned M2 which is mixed use cedar Corridor District so this plary plat is very similar to residential plary plats it's basically just the division of the
different lots to create the development each one of these Lots will then go through a final plat process just like different divisions of a subdivision for residential um within this they are plotting the RightWay and they will be building um Glenn Shaw that East um West
roadway and then that roadway will extend to the South and connect to 181st Street um all of the lot requirements are being met um the lot number eight which is highlighted um in purple um this is the lot that needs the conditional use permit as it doesn't
have the public Street Frontage however on the site plan as in your packet it does have access to the public Street um all the RightWay is being dedicated easements um and out lots and park dedication for the various slots will be determined with each final plot there
may be some instances where a conditional use permit is required depending on the use um particularly for some of the drive-through uses but for the most part um many of these will just go through the final plat and then the site plan review process as a commercial
development under the M2 zoning um you can see on the plan they provided a site plan um and indicated you know what some of those potential users will will be abidin has been working on um those different agreements um we have another meeting coming up this Thursday to kind
of take the next step and get some of these uses through the preliminary or the final plat process um but we know um there's going to be some Quick Serve restaurants um a grocer daycare bank and so forth so a nice variety of businesses
within this area um access will be from 179th um as a right in and then enter the facil you know enter the development and then there's that East West roadway there'll be cross access easements that get um filed with the final plot and
then there's a lot of internal I'm going to jump to a different screen internal sidewalks we really wanted this to be as pedestrian as possible um so with the construction of Glen Shaw there'll be um a sidewalk on the North side as well as the west side
until the remaining out Lots develop and then the other dark black lines indicate either existing Trails or new um connections between the different uses to really make it as pedestrian as we could um again here is the plat again
there's a couple of outlots um out lot a B and C are for storm water um the remaining Outlaw d and e the two large ones um will likely be um out lot E I would guess may still continue to be housing um out lot D is that project
that was approved for a senior building um a couple of years ago and that did not continue their conditional use permit so still up for um not quite sure exactly what those final uses would be there is some landscaping that's required just as a peer buffering along
Glacier because of the ab budding zoning District to the east is residential so that screening will go in right away each of the individual Lots will also have Landscaping the developer has been um cognizant of us wanting to have some
cohesive building design and they've created some standards as well as some cohesive Landscaping so all of that will be looked at during each of the individual final plots and site plan reviews um so again a very straightforward application um the Planning Commission did hold a
public hearing at their meeting on March 6 um there was no public comment and the Planning Commission unly recommended approval and I would stand for any questions along with the applicant okay thank you Council questions or
comments Joshua just a comment uh to say that it's exciting to see this corner develop um I think Council has had conversations numerous times about um the need and want from residents to have more commercial and Retail and so
this is definitely filling that need um and uh a thank you to the Planning Commission for their thorough review so no questions for me okay Council if not I'll take a motion move to approve a resolution approving the marketplace at Cedar P
preliminary plat and two a conditional use permit to allow a lot without public Street Frontage and Adoption of the findings of fact is there a second second any further discussion as Echo council member Le
we're excited to see this progress and have a lot of new uh business neighbors so it's we're excited for that so with that I'll take U roll call please Lee I I ell i f hi Walter hi okay
congratulations look forward to the partnership thank you um we'll now move on to Item B a resolution authorizing issuance awarding sale prescribing the form in details and providing the for the payment of 22.25 million in general obligation
bonds and I will turn it over to our finance director thank you Mr Mayor and members of the council we had a very positive Bond sale this morning um for this 22 million and um we just just reiterating that uh Moody did confirm
our AAA Bond rating so that of course helps we had several bid um biders uh 13 which um Jessica will allude to we last time we had this happen I think it was in 2020 so this is there's a lot of lot of action um this is paying for or
paying portions of the 2025 Street reconstruction project uh some of the collector Rehabilitation and the largest portion is the CIP bonds portion for the first training facility so with that I'm going to let Jessica Green managing director at Northland give you the
details welcome Miss green Council good evening good evening good to see you again as Julie just mentioned we had a bond sale this morning for the city and stole my thunder a little bit I'm kidding um really really good results a
lot of interest in the city's bonds today so it it's not a record um but we're one shy of a record so back in 2020 you had 14 bids and this time you had 13 so really nice results today so we do have a sales summary for you like we normally do looks like this on the cover so I'll just plan to go through
the highle details um of the sale today and then of course happy to answer any questions so proceeds of the bonds here will be used to finance of course the 2025 Street reconstruction activities and then we also have a CIP portion which will go towards the construction of the First Responders skills training
center and then the bonds were also sized to to include cost of issuance as well related to the structure and the finance plan here we have a 10-year structure for the street reconstruction activities and then a longer um term here for the CIP portion for the training center at 20 years security
here is the general obligation Pledge of the city so the city will pledge ad valorum taxes to the bonds that being said we do anticipate that the city will be eliminating the CIP portion of the levy with um your franchise fee Revenue so that um not directly pledged to the
payment of the bonds but it can offset Moody did of course confirm the AAA for the city um they continue to mention the strong and growing economy here in Lakeville um the strong residential income ratios and then also just overall financial performance so you have ample
reserves and very strong liquidity so all very good marks in terms of how moody is raing the city method of sale here competitive again 13 bids Piper Sandler out of Minneapolis so a local underwriter um is purchasing the bonds or they are the apparent low bidder we
have a final maturity of February 1 of 2046 and then you have the optional call date um beginning February 1 of 2033 so at any time thereafter you can call the bonds in whether that's to restructure pay them down Etc and you can do that in whole or in part and then finally um at
the bottom of page two here we just have a comparison between the finance plan and the final um I did notice a typo here we did not drop from 22 mil 250 down to 2,250 um we stayed at that par amount of 20 2,250 um the only change here really is to the true interest cost we had been
estimating 3.88 that came in at 3.85 so very very close to what we had been anticipating your bid tab is found on the third page so you can see um Piper the low bidder here and then the cover bid so sort of the next in line um really really close so Piper coming in
at 3.83 6 Rayman James coming in at 3.84 one and you can see sort of just the ascending rates here so really strong covers especially in those first several biders um so very very interested market today for lak bills bonds so again really nice sale
results from there we've got the sources and uses on page four along with the pricing summary the pricing summary Council will probably remember when we go through um these Bond sale results you often times see premium on the bonds which just means that investors are looking for a higher stated rate or
interest rate on the bonds they're willing to give you cash upfront to do that so that pricing summary in the middle of the page simply compares the stated coupon rate so you'll see in the very beginning You' got a lot of 5% rates and then with the cash con contributed you can see what the actual
yield is on the bonds so nice amount of Premium today about um a million 31,000 so um and that is because of the fact that the yield curve has changed from the last time that you issued bonds so it used to be inverted we're now
coming into a more normal shape for um the the yield curve which means overall that your yields on the early years is much lower which again is driving up that premium because we're still seeing 5% coupons here you've got a Debt Service schedule on a combined basis on
page five um those are broken out separately for the street reconstruction and the CIP portions um we provide those schedules to staff so they're able to manage the bond issue and then you've got um just some information related to local issuance and also National
issuance this week so busy we for the bond market not a whole lot going on here in Minnesota just three um three sales this week um but Lakeville being the only Standalone sale today and then finally as we always do you've got a couple of graphs here this is really meant to give you sort of the fiveyear
versus 25 year snapshot so you can see kind of how interest rates are behaving and with that I will stand for any questions that you may have okay very good Council any questions comments M Lee thank you um uh couple
questions one when it comes to the bid tab is there anything we can glean about perceptions of our city based on who's here is there is there anything we can we can think about or or why is it uh such a popular day for for us to receive
these bids so there's a couple of things going on here one the size of the bonds is very attractive so when you get over 10 15 and into the 20 Millions um you're going to see a lot of national attention um what I would would say is based on again the cover bids and how these are
stacking up they're just so close to each other the first four or five biders a strong bond sale you typically will see four or five bids so the fact that you're getting 13 bids is is really indicative of the fact that the city is just very strong your your rating
obviously reflects that um so in terms of POS positioning the city I really don't think that there's a whole lot of work to do here um you're doing a great job and and then what I would just say is that some of these that kind of fall towards the end where we're seeing truest or Bank of Oklahoma is that b
okay Financial at the very bottom we wouldn't necessarily call those throwaway bids but they're putting something out into the market and just kind of hoping that it sticks um but in this case you've seen that there are a number of different Underwriters that were certainly willing to sharpen their pencil to be the most competitive um so
again I think that city is just very well positioned so um not a not a whole lot of suggestion for you unfortunately one followup it you said Lakeville Bond sale was the only Standalone today for for Minnesota issuance yep gotcha so is
there anything to be said about the timing of when we decided to go out to the market and and for future Bond sales the strategy around that so this is interesting um normally Lakeville sells their bonds a little bit later in the year um so typically we're doing this in June or July it just so happened that
you've got um construction projects to deal with so that was sort of forcing the earlier timeline so that could certainly be working in your favor obviously Minnesota um we have a short construction period so oftentimes Bond sales are kind of starting to show in May June July so it
could just be that because we're a little bit earlier in the year that's working in your favor um it's tough sometimes when you're trying to set a an issuance schedule just because you're you're lining up your date of sale with the council meeting date right so you
don't have a ton of control over when other cities are selling and there's a lot of cities that tend to meet on Mondays um so sometimes though those can stack up but in this case um it it may be you know helpful that you're just selling earlier in their year so um not
a not a definitive takeaway there but yeah appreciate it thank you it's great information thank you okay any other comments if not I'll take a motion resolution Council Walter I move to approve a resolution authorizing issuance or ing sale prescribing the
form in details and providing for the payment of 22 m250 th000 General obligation bonds series 2025a okay there a second any further discussion okay roll call
please Burl i i lee I vote hi hello hi thank you very much I'm glad that passed because we were already at the groundbreaking today so that was wasn't worried but you know uh with that any unfinished or new business seeing none a couple
announcements our next work session is uh next Monday March 24th right here at the Lake Mar conference room our next city council meeting is April 7th back here in the council chambers and with that I will take a motion to adjourn I move to adjourn is there a
second all those in favor say I I post we're adjourned [Music] good job everybody [Music]