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2.02: Discuss Update on Interim Public Works Facility Options <br /> Public Works Superintendent Riemer reviewed the staff report. <br /> City Administrator Ulrich noted that this is an interim solution and advised that financing options <br /> were also included in the case for the new public works facility. He stated that the estimated <br /> debt was listed at the lowest amount and advised that four financing options were listed. <br /> Finance Director Lund provided details on the four financing options proposed within the case. <br /> Councilmember Riley referenced the two percent rate and asked if that is the approximate rate <br /> the City is currently earning. <br /> Finance Director Lund noted that currently the rate is slightly under two percent but has been <br /> increasing slightly each year. <br /> Councilmember Riley stated that future improvements may come sooner than anticipated and <br /> asked the current balances of the sewer and water funds. <br /> Finance Director Lund replied that the water fund currently has a balance of$23,800,000 while <br /> the sewer fund has a balance of$13,500,000. <br /> City Administrator Ulrich stated that this presents the best option for financing a $15,000,000 <br /> building. He asked if this is reasonable for the City to take the next step on the building, which <br /> would be to solicit proposals on plans and specifications. He noted that would also provide more <br /> information on the anticipated cost, noting that value engineering could also be done. <br /> Councilmember Kuzma stated that he does not support the interim option and would instead <br /> prefer to move forward on the steps needed to proceed with the new public works facility. <br /> Mayor LeTourneau asked if the perspective of public works would change about the interim <br /> option, if the direction were given to move forward on the new public works facility. <br /> Public Works Superintendent Riemer replied that if the direction is given to move forward on the <br /> new public works facility, he can make do without the interim option. <br /> City Administrator Ulrich noted that the planning process and construction for a new public <br /> works facility would be about 18 to 24 months. <br /> Public Works Superintendent Riemer confirmed that he can forgo the interim option for that <br /> amount of time if the new public works facility process is moving forward. <br /> City Administrator Ulrich stated that even if the building is purchased from Anoka County for <br /> the interim option, it could be resold in the future. <br /> City Council Work Session/May 14, 2019 <br /> Page 3 of 7 <br />