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CITY COUNCIL WORK SESSION <br />CITY OF RAMSEY <br /> ANOKA COUNTY <br /> STATE OF MINNESOTA <br /> <br />Thc Ramscy City Council conducted a City Council Work Session on Tuesday, April 5, 2005, at <br />thc P, amscy Fire Station Number I, 15050 Armstrong Boulevard NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Mayor Thomas Gamec <br />Councilmember Todd Cook <br />Councilmember David Elvig <br />Councilmember David Jeffrey <br />Councilmember Mary Jo Olson <br />Councilmember A1 Pearson <br />Councilmember Sarah Strommen <br /> <br />Also Present: <br /> <br />(?ALI, TO ORDER <br /> <br />City Administrator James E. Norman <br />Assistant City Administrator Heidi Nelson <br />Finance Officer Diana Lurid <br />Director of Public Works/Fire Chief Dean Kapler <br />Paul Donna of Northland Securities <br />Metropolitan Council Representative Natalie Haas Steffen <br /> <br />Mayor Gamec called the City Council Work Session to order at 5:49 p.m. <br /> <br />APPII()VE AGENDA <br /> <br />'Fhc agenda was approved as submitted. <br /> <br />COUNCIL TOPICS FOR DISCUSSION <br /> <br />1) RTC Project Financing & Fiscal Impact <br /> <br />l.'inancc Officer Lund reviewed that at the March 29th work session Paul Donna, the City's <br />I:inancial Consultant, presented information regarding the creation of a PIR fund, which allows <br />all bond procccds, assessments, etc. to be deposited into one account. An updated analysis of the <br />/1seal impact model was also distributed at the March 29th work session. The model incorporates <br />the tax impact for the City's portion of the RTC projects and the new City Municipal Center for <br />ibc next several years. It was determined that the amount levied for year 2006 needs to be <br />restructured in such a way as to be in line with the tax capacity rate of prior years. It was <br />requested that different scenarios be presented as to how the total tax capacity rate of 2006 can be <br />lowered ~o a more manageable level. These different scenarios being internal loaning, <br />capitalized interest, budget adjustments and 2005 excess revenue. <br /> <br />City Council Work Session/April 5, 2005 <br /> Page 1 of 6 <br /> <br /> <br />