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Mayor Strommen called the regular City Council meeting back to order at 7:48 p.m. <br />Councilmember Kuzma stated his support for this project as the streets are in poor condition. <br />Motion by Councilmember Kuzma, seconded by Councilmember LeTourneau, to Adopt #15-03- <br />073 Authorizing Plans and Specifications for 2015 Street Maintenance Program — Division B; <br />Improvement Project 15-00. <br />Further discussion: Mayor Strommen expressed her thanks to staff and for holding public <br />informational meetings that provide residents with a more informal and accessible setting to <br />address their questions and concerns. <br />Motion carried. Voting Yes: Mayor Strommen, Councilmembers Kuzma, LeTourneau, Johns, <br />Riley, Shryock, and Williams. Voting No: None. <br />7. COUNCIL BUSINESS <br />7.01: Adopt Resolution #15-03-086 Authorizing Various Actions Related to F & C <br />Ramsey Apartments LLC's Sale of The Residence at The COR <br />Tom Bray of Briggs & Morgan, the City's real estate attorney, presented the memorandum that <br />outlined the authorizing resolution and terms of the nine documents under consideration for <br />approval now that the project has been completed and F&C will be repaying the two HRA loans. <br />Councilmember Riley stated this has been discussed previously and appears to be a win for the <br />City to have a developed apartment complex and being repaid. He asked if there is any <br />downside or exposure of the City to additional risk. <br />Mr. Bray advised this action results in the City fulfilling its part of the agreement, there is no <br />additional risk, and the City would be repaid $7.4 million, which eliminates the past risk. <br />Councilmember Williams referenced the first amendment and asked about the impact to <br />indemnification and financial obligations such as payment of taxes. Mr. Bray advised that <br />obligation remains in the agreement. <br />Motion by Councilmember Riley, seconded by Councilmember Kuzma, to Adopt Resolution <br />#15-03-086 Authorizing Various Actions Related to F & C Ramsey Apartments LLC's Sale of <br />The Residence at The COR. <br />Motion carried. Voting Yes: Mayor Strommen, Councilmembers Riley, Kuzma, Johns, <br />LeTourneau, Shryock, and Williams. Voting No: None. <br />7.02: Approve Work Plan for the Proposed 2015 Parks Capital Improvements and Adopt <br />Resolution #15-03-081 Authorizing a MnDNR Trail Grant Application <br />City Council / March 24, 2015 <br />Page 5 of 14 <br />