Agenda - Council - 11/12/1985 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I 18: C~E 19: Your action will be to appro~e/disappr~e the request fr~ the Ra~sey Senior Citizens. The following proposed ~otion is hereby sub~itted for your oonsideration: Motion by "~r~-'~"%'F'l~and seconded by ~ to ~ disapprove the Ra~sey Senior Citizens' request for a donation for their annual Christmas party on December 4, 1985 in the a~ount of $. for the purchase of ice crea~ and/or other novel~es. (buncil discussion: Motion carried/failed. Voting yes: Voting no: 0 As you know, the Oouncil's fourth Tuesday regular weeting falls on December 24, 1985. This meeting should therefore be rescheduled. The Council ray want to consider cowbining the December 24th and Deoe~ber 10th =eetings into one regular meeting on D~ce~ber 17, 1985. Your action will be to direct how you would like to reschedule the regular December Council m.-etings. POLI~ F~R PRf)CKSSI~ REf~JESTS FOR FINANCIAL ASSISTANCE IN THE TAX ~ FINANCING DEV~ DIStrICT: At your October 15, 1985 discussion of a policy for processing requests for financial assistance, you requested additional information regarding the following: a) Application fee to cover costs of bond counsel and fiscal consultant in re;iewing request; b) Timetable for processing requests; and c) Check list of information to be su~ritted with request for assistanoe. The City Planner discussed the application fee with Mr. Wayne Burggraaff of Evensen-Dodge. Evensen-Dodge doesn't charge the City for its services on a case by case basis; it takes its fees out of the proceeds of the bond sale (one of the ter~s of their contract with the City). Mr. Burggraaff states that many cities will pick up reiwburse~ent for oosts that they incur in processing requests from the proceeds of the bond sale. The City Planner also surveyed other cities to see how' they handle such requests. Many cities charge a non-refundable application fee and so~e require developers to pay for all costs incurred at the time of closing. Other cities will take all costs fr~r the proceeds of the bond sale. Usually, these costs run about two percent of the total bond sale (for instance, on a $1,000,000 sale, costs would be $20,000) and include fiscal consultants fees, Moody's fees, bond counsel fees, printing of sale statements and bonds and registration fees.