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COUNCIL BUSINESS <br /> <br />Information From Ironworks Corporatio%; <br /> <br />Mr. Paul Fournier was present to submit a pro-forma regarding a proposal for a <br />business incubator facility brought before Council on September 30, 1986. <br /> <br />Mr. Hartley stated that Staff would like an opportunity to evaluate the pro- <br />form and prepare a recommendation to Council. <br /> <br />Motion by Councilmember Cox and seconded by Councilmember Schlueter directing <br />Mr. Hartley, Ms. Norris and Councilmember DeLuca to meet with Ironworks <br />Corporation to evaluate the pro-forma for a business incubator facility and <br />schedule the case on the October 28, 1986 Council agenda. <br /> <br />Motion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, Cox, <br />Schlueter and DeLuca. Voting No: None. <br /> <br />Councilmember DeLuca requested that the City Attorney review two areas of <br />concer: a) Does the city's participation in a business incubator facility <br />conflict with the City Charter? b) Upon moving out of the facility, can users <br />be obligated to locate in Ramsey or reimburse Ramsey for subsidies received <br />during their incubation period? <br /> <br />Mr. Hartley replied that those concerns will be researched. <br />~ ~¢onomic Development Commission ReqUest: <br /> <br />Mr. Hartley referred to a letter from the Economic Development Corporation <br />dated October 6 and a memo from the Economic Development Commission dated <br />October 8. Those documents identify goals and tasks and required funds for <br />effective stimulation of economic development. <br /> <br />Mr. Ken Wagner, member of Economic Development Commission and Corporation, was <br />present and stated that the entities have gone through a strategic planning <br />session and are at a point where volunteerism will no longer effectively <br />accomplish the tasks outlined; funds are needed to function. <br /> <br />Councilmember Cox agreed that it is time for the city to invest in economic <br />development; sources of revenue, landfill trust fund interest money for <br />instance, should be explored for availability and amounts. <br /> <br />Mr. Hartley reported that at year-end 1985, there was a balance of 1.2 million <br />in the Landfill Trust Fund; those funds are a result of the sale of the <br />landfill and there are no restrictions as to use attached to them. The <br />appropriate approach would be to set guidelines for the use of those funds. <br />The other landfill fund is a result of tipping fees; at year-end 1985, there <br />was a fund balance of $134,572; State statute restricts use of those funds to <br />landfill abatement activities. <br /> <br />Council tabled further discussion of the funding requests from Economic <br />Development Commission and Corporation until Case #7 on this agenda, Proposed <br />1987 City Budget. <br /> <br />October 14, 1986 <br /> <br />Page 3 of 10 <br /> <br /> <br />