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City Administrator Norman explained that the other option would be to have a negotiated sale, <br />and he has dealt with them in the past. Juran and Moody will give their recommendation, but it <br />is up to the City to make the decision. <br /> <br />Mr. Mattson stated if he thought that the rates would be significantly higher in December he <br />would be pushing to do this process fast, but he is not sure that will be the case. <br /> <br />Motion by Councilmember Anderson, seconded by Councilmember Connolly, to recommend <br />that City Council accept the plan and terms of the finance plan presented by the Financial <br />Consultants and set a bond sale date for December 19, 2000. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Anderson, Connolly, Hendriksen, <br />and Zimmerman. Voting No: None. <br /> <br />Case #2: Approve Elmcrest Park Development <br /> <br />Parks/Utilities Supervisor Boos stated that for many years the property now kmown as Elmcrest <br />Park has been proposed for development. In 1999, the City purchased the 94-acre site for <br />$205,000. Earlier this year, City Council authorized staff to submit a grant proposal to the State <br />of Minnesota which, if awarded, would provide the City $100,000 to match City monies. In <br />September 2000, the City was notified of its successful grant proposal. The Elmcrest <br />Development was included as a project in the 2001 - 2005 Capital Improvement Program to be <br />adopted at a later date. The budget for this project is $362,000. The purpose of the case was to <br />adopt a resolution which would formally enter the City into a contract with the State of <br />Minnesota. This also commits the City to a minimum investment in the park as outlined in the <br />Youth Enrichment Grant proposal of August 2000. The Park's Capital Improvement Program is <br />expected to be adopted as part of the 2001-2005 budget in December of this year as part of the <br />City's Capital Improvement Program. No "Grant Monies" would be expected until the project is <br />approved. <br /> <br />Councilmember Zimmerman inquired where the City's portion of the funding would be coming <br />from. <br /> <br />Parks/Utilities Supervisor Boos replied that the majority of the funds would come from the Park <br />Trust Fund. <br /> <br />Councilmember Anderson inquired if there are any requirements by accepting the grant. <br /> <br />Parks/Utilities Supervisor Boos replied that the contract is rather straightforward and in <br />researching the document, he did not see anything that would cause concern. He noted that the <br />Park Commission has scheduled an open house workshop in December to receive comments' <br />from residents on the design of the park which will allow the Commission to address any of their <br />concerns. <br /> <br />Finance Committee/November 28, 2000 <br /> Page 3 of 8 <br /> <br /> <br />