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