Winsted City Council Reviews Mortgage Releases and Employee Health Savings Changes
- Meeting Overview:
The Winsted City Council approved the release of liens on two properties following the successful completion of a beautification loan program. The council also debated transitioning their employees’ Health Savings Accounts (HSAs) to a new administrative service to potentially enhance investment options.
During the meeting, the council discussed releasing lien agreements for properties on First Street North and Main Avenue West. These properties had previously participated in a beautification program that provided forgivable loans. Now that the homeowners have satisfied the loan requirements, the council authorized the release of liens placed on the properties. This move ensures that property owners who have fulfilled their obligations under the program can now enjoy full ownership without the constraints of a city-imposed lien.
Another topic was the council’s decision to move the city’s Health Savings Account administration from a local bank to a new provider, Health Equity in partnership with Flagship Insurance Services. The change is intended to provide employees with more robust investment options within their HSAs, despite a new monthly administrative fee. The current arrangement with Citizens Bank does not allow for investment within the HSA, prompting the council to consider alternatives that could provide long-term financial benefits for city employees.
The council also scheduled a truth and taxation hearing for December 2, 2025, to discuss and address future financial planning. The upcoming hearing will provide a platform for public input and transparency regarding the city’s fiscal decisions.
Jeff Albers
City Council Officials:
Jesse Cafferty, Tim Fury, Matt Wroge, Tom Ollig, Neil Schlagel (City Administrator)
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Meeting Type:
City Council
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Committee:
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Meeting Date:
11/04/2025
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Recording Published:
11/04/2025
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Duration:
11 Minutes
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Notability Score:
Routine
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State:
Minnesota
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County:
Mcleod County
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Towns:
Winsted
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