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FC Case #1 <br />AUTHORIZATION OF RESOLUTION #09-09-XXX CALLING FOR A PUBLIC <br />HEARING ON AN ISSUE OF REVENUE BONDS BY THE CITY OF <br />MINNEAPOLIS AND THE HOUSING AND REDEVELOPMENT AUTHORITY <br />OF THE CITY OF ST. PAUL ON BEHALF OF ALLINA HEALTH SYSTEM <br />By: Diana. Lund, Finance Officer <br />Background: <br />Allina Health Systems is planning to build a new clinic in the City of Ramsey. Allina <br />plans to fund the projecYwith a revenue bond issued through the City of Minneapolis and <br />St. Paul's HRA. As the project is proposed to be located within the City, IRS regulations <br />require Allina to get the City's approval of the bond issuance. Per the regulations, the <br />City Council needs to approve the issuance of the bonds by the issuer after a public <br />hearing is held. <br />Allina would like to hold the public hearing at the City Council meeting of October 13, <br />2009. <br />Allina has not confirmed the location of the new clinic. When asked, they said a specific <br />site has not been determined but that the two possibilities were within Town Center or <br />their current site. They are hoping to have the site. selected by the time the notice is due <br />for publication, which is September 23, 2009. <br />A representative from Allina will be present at the Finance Committee. <br />Funding Source: <br />None required. Approval needed by City only. <br />Committee Action: <br />Motion to recommend to City Council that Council adopt Resolution #09-09-XXX <br />CALLING FOR A PUBLIC HEARING ON AN ISSUE OF REVENUE BONDS BY <br />THE CITY OF MINNEAPOLIS AND THE HOUSING AND REDEVELOPMENT <br />AUTHORITY OF THE CITY OF ST. PAUL ON BEHALF OF ALLINA HEALTH <br />SYSTEM <br />