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FINANCE COMMITTEE <br />' CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br />' The Ramsey Fi ance Committee conducted a regular meeting on Tuesday, May 23, 1995, <br />at the Ramsey lfunicipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota. <br />' Members Present: Mayor Glen Hardin <br />Councilmember Carolyn Beahen <br />Councilmember Sheila Beyer <br />Councilmember Kenneth Peterson <br />' Councilmember Gerald Zimmerman <br />Also Present: City Administrator Ryan Schroeder <br />' Finance Officer Jessie Hart <br />City Engineer Steven Jankowski <br />CALL TO ORE`DER <br />Councilmember? Peterson called the regular meeting of the Finance Committee to order at <br />6:10 p.m. <br />1 CITIZEN INPUT <br />' None <br />CONSENT AGENDA <br />' None <br />APPROVE AGENDA <br />f <br />Consensus was �° approve the agenda as presented <br />COMMITTE9 BUSINESS <br />Case #1: V�indemere Woods <br />' Finance Officer iHart stated that early in 1995, residents of Windemere Woods requested <br />Council take action regarding the property at 5760 - 141st Lane N.W. She explained that <br />the status of the �ssue is that the City has retained an escrow in the amount of $1,800 from <br />' Al and Alice Koenig, the developers of Windemere Woods, to provide for the completion <br />of driveway paving at this property, which they own, in conformance with the <br />development agreement. Mr. Koenig has requested release of the escrow which he <br />' believes the Cit}t has retained inappropriately. He has also requested that interest be paid <br />on the escrow r inage. Ms. Hart informed the Committee that it has been the policy of <br />the City of Ramsey since 1984 to not pay interest nor charge an administrative fee to <br />' escrow accounts4 She explained that she has surveyed several surrounding cities relating to <br />their escrow policies. She summarized the responses; the Cities of Anoka, Coon Rapids, <br />Eagan, Elk Riv , Golden Valley and Shoreview basically do not pay interest, while the <br />Cities of AndovTr and Maplewood do. She suggested that the City of Ramsey's policy is <br />' consistent with other cities. <br />' Finance Committee /May 23, 1995 <br />Page 1 of 6 r-� 3 <br />