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item and revenues to support that line item will be zero. Councilmember <br />$chlueter inquired if there are other sources available for park development. <br />Mr. Hartley stated that there is a park development fund with a balance of <br />$110,000. <br /> <br />Motion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, Cox, <br />Schlueter and DeLuca. Voting No: None. <br /> <br />Councilmember Cox stated that he feels the $50,000 should be earmarked for the <br />revolving fund proposed by Economic Development Commission and Company and <br />additional funds should be budgeted for an economic development person. <br /> <br />Mr. Jack Ippel stated that at the Star City Conference he met an individual who <br />Btated that revolving funds do qualify as appropriate uses of CDBG funds; once <br />the CDBG funds are in that revolving fund, they have to be let out according to <br />CDBG guidelines. Ramsey's $~,000 CDBG balance could be used for the revolving <br />fund and the $50,000 could be used for ane economic development person. Use of <br />CDBG for revolving funds is worth checking into. <br /> <br />Councilmember DeLuca inquired about the State law that enables city's to levy <br />for economic development. <br /> <br />Mr. Graczyk stated that before a city can levy for economic development, they <br />have to establish a port of authority. <br /> <br />Motion by Councilmember Cox and seconded by Councilmember Sorteberg to adjourn <br />the special Council meeting. <br /> <br />Motion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, Cox, <br />Schlueter and DeLuca. Voting No: None. <br /> <br />The meeting adjourned at 11:30 p.m. <br /> <br />Respectfully submitted <br /> <br />Sylvia Frolik <br />Secretary <br /> <br />David Hartley <br />City Administrator <br /> <br />October 14, 1986 <br /> Page 10 of 10 <br /> <br /> <br />