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Council consensus was to move forward with a rent proposal to pursue $1,600 /month. <br />Councilmember Backous suggested moving forward with the April 1 lease date and if the City is <br />committed to $1,600 then go to Crystal. <br />Mayor Ramsey noted these are two different issues. <br />City Administrator Ulrich suggested reviewing the policy on Highway 10. <br />Mayor Ramsey stated that but/for this lot, Crystal wouldn't be here and would go back to PSD. <br />City Administrator Ulrich said the policy directs the philosophy of going to RALF and trying to <br />occupy and maintain the buildings, which is the City's goal. <br />Councilmember Wise said the buildings need to look good and have leases written so they are <br />not a City expense. <br />City Attorney Goodrich said the lease provides the building structure but they conduct the <br />maintenance. <br />5) 2010 Comprehensive Annual Financial Report (CAFR) and Management Report <br />Finance Officer Lund reviewed the staff report and introduced Aaron Nielson from MMKR, who <br />outlined the CAFR and Management Report. <br />Councilmember Elvig inquired about the term "unqualified." <br />Mr. Nielson said the term is dictated by professional standards and that unqualified means they <br />did not identify anything during the audit. He said the report is good and fairly represents the <br />City's financial position as of December 31, 2010. <br />Discussion was held on market value decreases, and Mayor Ramsey noted the City was the third <br />highest in the County for decreased land values. <br />Finance Officer Lund said 7.6 represents the taxable market value, which is the total market <br />value available in the City but added that not everything is taxable. <br />Councilmember Elvig said that with the current economy, the overall projections are remarkable, <br />and while they are not yet done, the City has the reserves, tools, and incentives, which places <br />Ramsey in a good position. Councilmember Elvig inquired about how they can invest better <br />since the City is doing some development. <br />Mr. Nielson explained the cost -basis comes into play and significant development, land being <br />held, and the current economy makes this difficult. <br />City Council Work Session / June 14, 2011 <br />Page 4 of 7 <br />