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<br />Councilmember Elvig asked suggested it would be nice if the City owned that. <br /> <br />Discussion ensued regarding the asset of the corridor. <br /> <br />Councilmember Olson ask~d if we are sure we will be reimbursed for that land. <br /> <br />City Administrator Norman stated he did not have an answer for that. <br /> <br />Councilmember Cook stated that if we buy the land, we are making a commitment and with the <br />Joint Powers Agreement, the County is making a commitment too. He added that he is not <br />scared to tell someone he supports a million dollars to improve roadways and he felt we would <br />get some more Federal money. <br /> <br />Mayor Gamec stated he is hearing that Council basically likes the idea but not necessarily <br />donating any money. <br /> <br />Councilmember Elvig stated that the million dollars is a down payment. <br /> <br />Councilmember Strommen mentioned 4.5 million dollars. <br /> <br />Mr. Norman stated it would be an annual payment of $280,000 - $140,000 from the City and <br />$140,000 from the County. He added that Finance Officer Lund is recommending financing the <br />. whole thing - bonding the City and County for regional improvements. She feels we can get <br />better than 7%. $300,000 is what the City is buying, $300,000 is the County's part - they will <br />pay us and the $400,000 is a Federal Grant. <br /> <br />Councilmember Elvig asked if we could plat off areas there. <br /> <br />Mr. Norman replied yes, but we have to get the County to agree with that. <br /> <br />Community Development Director Trudgeon stated it is pretty fragmented. <br /> <br />Councilmember Jeffrey stated there has been talk about chunking some land off for other uses. <br />What do we do with that - is there a use for that piece of property? If there's a 10-year window <br />or whatever, what can we do with that piece of property. He thought it the City should do this <br />but he stated he would like to know what the fiscal impact is worth trying at the County into this. <br />You could lose something - there is a risk. <br /> <br />Councilmember Cook stated he feels it's more of a risk to let it go. <br /> <br />Councilmember Olson and Councilmember Jeffrey expressed agreement with Councilmember <br />Cook. <br /> <br />Councilmember Elvig stated that when creative financing was talked about - friendly <br />condemnation was mentioned. Staff could go back and talk to them about some ideas. You may <br />be better off going through this process . . . - they could put it before their Realtor. <br /> <br />Special City Council / May 30, 2006 <br />Page 3 of 4 <br />