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Lund explained, in addition, City Council has authorized the services of Jim Lasher to provide <br />project management services in the Town Center area in the amount of approximately $100,000. <br />This amount is to be paid back as projects come on board, but in the meantime the City would <br />need to front the cost. It is being requested that the necessary funding be obtained from the 2005 <br />excess revenue balance. Ms. Lund advised after these funds are deducted from the 2005 excess <br />revenue balance of $210,937.71, it leaves a balance if $18,349.71 to be divided amongst the four <br />funds as listed in the packet. <br /> <br />Councilmember Elvig inquired if there is additional information regarding the Welcome's Road <br />project. <br /> <br />City Administrator Norman replied the recommendation of the City Attorney is that additional <br />funding by the City for this project would create a precedent. Staff will meet with the neighbors <br />and explain the higher cost to them. The higher cost could mean the project may fall out of the <br />schedule this year. <br /> <br />Councilmember Elvig inquired what the situation will be with the funds allocated to the <br />Welcome's Road project if it were to be removed from the schedule this year. <br /> <br />Finance Officer Lund replied the project funds would be divided back out to the respective <br />funds. <br /> <br />Motion by Councilmember Elvig, seconded by Mayor Gamec, to recommend that the City <br />Council adopt the resolution authorizing the transfer of the General Fund Excess Revenues to the <br />Equipment Revolving Fund, the Facilities Construction Fund, the Public Improvement <br />Revolving Fund, the Park Trust Fund, the St. Francis Boulevard Assessment Fund and the <br />Welcome's Road Assessment Fund at the stated rates. <br /> <br />Motion carried. Voting Yes: Chairperson Strommen, Councilmember Elvig and Mayor Gamec. <br />Voting No: None. Absent: Councilmember Jeffrey. <br /> <br />Further discussion: Mayor Gamec stressed that the Welcome's Road project should come back <br />before the Public Works Committee and Council for further discussion. <br /> <br />Case #2: Loudi Economic Development Zone Celebration Delegation <br /> <br />City Administrator Norman stated the City of Loudi, China, has invited Ramsey City Officials to <br />Loudi, China, on May 13, 2006, to celebrate the third anniversary of their industrial park. It is <br />anticipated that during the celebration on May 13, there will be an announcement of an opening <br />of a Chinese trade office in Ramsey, Minnesota. Included in the Committee's packet is a memo <br />with an itinerary; staff is open to questions. <br /> <br />Councilmember Strommen inquired who the delegation will be and whether the costs will come <br />from the Council Contingency Fund. <br /> <br />Finance Committee / April 11, 2006 <br /> Page 2 of 5 <br /> <br /> <br />