Agenda - Council - 06/13/2006 - Laserfiche WebLink

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Motion carried. Councilmember Cook left the meeting at 8:59 p.m. Case #10: Report from Finance Committee 1) Interfund Loan for Ramsey Crossings Project Councilmember Strommen explained the City has accepted RFP's for the development of Ramsey Crossings. Included in the language of the RFP, it states that the chosen developer will be responsible for all soft costs associated with the project. The mount of soft costs, as reflected in the RFP, total approximately $2.25 million. Staff has recommended that $2.25 million be internally loaned from the Equipment Revolving Fund to cover the soft costs incurred by the City on the Ramsey Crossings Project until a developer is chosen. All expenses incurred, plus an additional interest rate of 4.5% will be paid back to the Equipment Revolving Fund by December 31, 2006, by the chosen developer. The Finance Committee recommended the City Council proceed with the staff recommendation. 2) Consider Authorization to Contract for Legislative Consulting Services for Special Legislation Councilmember Strommen explained in 2005, the City contracted for legislative consulting services with Bonnie L. Balach for special legislation proposed in 2005. The TIF legislation did not move through the session and the legislative work continued into the 2006 session. Staff has continued to work with Ms. Balach, and added a new piece of legislation in 2006 legislation that would allow for special port authority powers for the City of Ramsey. The 2005 authorization by the City for consulting services has reached the not-to-exceed amount of expenditure for the legislative consulting services. The recommendation is that the Council adopt the resolution to authorize expending the contract with Bonnie L. Balach for special legislation consulting services in the amount of $5,000. Committee/Staff Input Councilmember Strommen stated a resident contacted Finance Officer Lund regarding an unfortunate situation with her water bill due to her irrigation system bursting after not being winterized. The Finance Committee determined that the full amount of the bill should be paid; however, a payment plan should be worked out with the resident. Mayor Gamec inquired about the possibility of insurance covering this accident. Councilmember Elvig replied the Committee suggested insurance coverage be checked into. Motion by Councilmember Elvig, secoCded by Councilmember Jeffrey, to ratify the recommendation of the Finance Committee in Case Nos. 1, 2 and Committee Input, and to adopt Resolution #06-05-155 authorizing the internal loan of $2.25 million from the Equipment Revolving Fund for the Ramsey Crossings Project with the understanding that all fees plus 4.5% City Council / May 9, 2006 Page 20 of 30 -66-