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Motion carded. Voting Yes: Mayor Hardin, Councilmembers Beahen, Zimmerman, Beyer
<br />and Peterson. Voting No: None.
<br />
<br />Motion by Councilmember Peterson and seconded by Councilmember Beyer to 'adopt
<br />Resolution #96-01-004 designating financial institutions as official depositories of City
<br />funds for 1996 as follows: Banking Institutions: First Bank N.A; Anoka Branch,
<br />Anoka, Minnesota; Minnesota Municipal Money Market Fund, Minneapolis, Minnesota;
<br />First National Bank of Elk River, Anoka, Minnesota. Brokerage Houses: Dain Bosworth
<br />Incorporated, Minneapolis, Minnesota, FBS Investment Services, Inc., Minneapolis,
<br />Minnesota; Financial Northeastern Securities, Inc., Fairfield, New Jersey; Investment
<br />Centers of America, Inc., Elk River, Minnesota; Merrill Lynch, Minneapolis, Minnesota;
<br />Paine Webber Incorporated, Minneapolis, Minnesota; Piper Jaffry Incorporated,
<br />Minneapolis, Minnesota; Prime Vest Financial Services, Inc., Anoka, Minnesota;
<br />Prudential Securities Incorporated, Minneapolis, Minnesota; and Smith Barney,
<br />Minneapolis, Minnesota.
<br />
<br />Motion carried. Voting Yes: Councilmembers Peterson, Beyer, Beahen and Zimmerman.
<br />Voting No: None. Abstain: Mayor Hardin.
<br />
<br />Motion by Councilmember Peterson and seconded by Councilmember Beahen to adopt
<br />Resolution #96-01-005 authorizing signatures for financial transactions as follows: City
<br />Administrator Ryan Schroeder, Finance Officer Jessie Hart, Senior Accountant Diana
<br />Lund, Mayor Glen Hardin and Councilmember Kenneth Peterson (Acting Mayor).
<br />
<br />Motion carried. Voting Yes: Mayor Hardin, Councilmembers Peterson, Beahen, Beyer
<br />and Zimmerman. Voting No: None.
<br />
<br />Case #2: Request for Final Plat Approval of Chestnut Ridge 2nd
<br /> Addition; Case of Good Value Homes
<br />
<br />Zoning Administrator Frolik reported that Good Value Homes is requesting final plat
<br />approval of Chestnut Ridge 2nd Addition for the first 29 of proposed 73 single family lots.
<br />She observed that the first leg of the extension of Sunwood Drive through the area
<br />preliminary platted as Chestnut Ridge 2nd Addition is provided for. None of the lots in
<br />this phase will have direct access onto this MSA road and in accordance with Staff's
<br />recommendation, the street extending south off of Sunwood Drive has been platted as a
<br />through street rather than an 'eyebrow'. The lots all meet the minimum requirements and
<br />public improvements will be installed as a private project with no financial participation on
<br />the part of the City. Park dedication shall consist of a cash payment and off-roadway
<br />paths. Ms. Frolik noted the Transportation Impact Fee.
<br />
<br />City Administrator Schroeder stated that staff had alerted benefitted property owners that
<br />we would be issuing a levy of. about $1,600 per unit. City Council has been discussing
<br />implementing an impact fee of $500 per lot and for existing lots - a $250 charge on the
<br />building fee. For this development, we are kind of in a "spot". The impact fee has not
<br />been approved finally but the developer needs something to rely upon. We need the impact
<br />fee of Sunwood Drive that's always been discussed. We have allowed the impact fee to be
<br />levied. In talking with Mr. John Peterson today (a representative of the Builder's
<br />Association), we came to the conclusion that the impact fees would not be in place in a
<br />timely fashion. We would be relegated to place impact fees on the amount of whatever is
<br />against the building permit. That would be $250. But in the development agreement, it
<br />states we can levy up to the full $500 fee. We recommend it be changed to $250 at this
<br />time. We could keep the same language in there but that would relegate $675 impact fee for
<br />
<br />City Council/January 9, 1996
<br /> Page 9 of 20
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