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<br />beyond that, after looking at the budget first glance, she is not sure that she will be comfortable <br />with this purchase. <br /> <br />Councilmember Jeffrey concurred. He noted this will come down to choices and priorities. <br /> <br />Councilmember Elvig stated he is not convinced of the urgency of this situation. He <br />wholeheartedly believes in the vision of protecting the corridor, but it is a long way out in this <br />process. His concern, however, is whether they will have a willing seller two years from now. <br /> <br />Chairperson Strommen stated that is where she struggles with this, and at what point should the <br />City in all fairness have to make a decision. She is not certain that this purchase would be a <br />priority given the budget situation they are in, and she does not want to keep stringing this out if <br />they are not sure they will be moving towards this purchase. <br /> <br />Councilmember Elvig asked what the payment amount will be per year. <br /> <br />Finance Officer Lund replied she is not certain, as the JP A was drafted on a 10 year balloon <br />time frame, rather than a 5 year balloon timeframe as is required. <br /> <br />Councilmember Elvig asked if there will be an opportunity for reimbursement on this purchase <br />through the RALF program. <br /> <br />Mr. Tinklenberg replied typically when dealing with a willing seller there are not problems with <br />reimbursement. One of the issues is the mapping of the corridor and purchasing right-of-way in <br />advance of the mapping. However, he thinks it is fairly secure that the City would own the land <br />and when it was time to build the project MnDOT would purchase the land from the City. <br /> <br />Councilmember Elvig stated he keeps hearing from his constituents that traffic and congestion <br />are the worst issues in the City; if they stall on this purchase they could potentially lose this <br />opportunity. <br /> <br />Motion by Councilmember Elvig, seconded by Councilmember Jeffrey, to recommend that the <br />City Council authorize execution of a purchase agreement for acquisition of the Boike property <br />and authorize execution of a Joint Powers Agreement with Anoka County for cost sharing of the <br />acquisition of the Boike property. <br /> <br />Further discussion: Chairperson Strommen stated she is not sure she is comfortable with <br />proceeding until they have the issue of the timeframe worked out and know what the payments <br />will be. Councilmember Elvig concurred. He requested to be provided with a copy of the JP A <br />in final draft form much earlier than the meeting when it will be discussed. <br /> <br />Motion on the floor amended to recommend that the City Council authorize execution of a <br />purchase agreement for acquisition of the Boike property and to authorize execution of a Joint <br />Powers Agreement (JPA) with Anoka County for cost sharing of the acquisition of the Boike <br />property, contingent on the JPA being amended to include a 5-year balloon timeframe on a 30- <br />year amortization, rather than a 10-year balloon timeframe, and contingent on the JP A being <br /> <br />Finance Committee / August 8, 2006 <br />Page 6 of7 <br />