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<br />FINANCE COMMITTEE <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Finance Committee conducted a regular meeting on Tuesday, June 13,2006, at the Ramsey <br />Fire Station Number 1, 15050 Armstrong Boulevard, NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Chairperson Sarah Strommen <br />Councilmember David Elvig <br />Councilmember David Jeffrey <br /> <br />Also Present: <br /> <br />City Administrator James E. Norman <br />Finance Officer Diana Lund <br /> <br />CALL TO ORDER <br /> <br />Chairperson Strommen called the regular meeting of the Finance Committee to order at 5:37 <br />p.m. <br /> <br />CITIZEN INPUT <br /> <br />There was none. <br /> <br />APPROVE AGENDA <br /> <br />Motion by Councilmember Elvig, seconded by Councilmember Jeffrey, to approve the agenda as <br />submitted. <br /> <br />Motion carried. Voting Yes: Chairperson Strommen, Councilmembers Elvig and Jeffrey. <br />Voting No: None. <br /> <br />COMMITTEE BUSINESS <br /> <br />Case #1: <br /> <br />Financing Options for Right-Of-Way Acquisition for the Future Northwest <br />Metro Corridor and River Crossing (Boike Property) <br /> <br />Finance Officer Lund reviewed that at the May 23, 2006, City Council work session and meeting <br />the consensus of Council was in favor of purchasing the Boike property for the future river <br />crossing and to cost share the funding of the purchase with Anoka County through a Joint <br />Powers Agreement (JP A). Staff was directed to compile possible financing options and bring it <br />back to Council at a future date. Ms. Lund indicated staff has been working with the City's <br />finance consultants for possible funding scenarios. She reviewed the following possible funding <br />sources: <br /> <br />Finance Committee / June 13, 2006 <br />Page 1 of5 <br />