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<br /> ----- <br /> , . <br /> Arden Hills Council 8 June 29, 1992 . <br /> profit con t ribut i on requirement retroactive to 1/1/92 ; <br /> - Council consider imposing a 1% gambling tax. <br /> - In recognition of state tax burdens, reduce trade area <br /> spending requirements from 50% to 30% <br /> - Initiate the use of a standardized reporting format for <br /> charitable gambling licensees. <br /> Post added that his research revealed that state laws, which <br /> changed after the adoption of the City regulations, make the <br /> City regulations somewhat unrealistic. He added that <br /> definitions of gross profit, net profit, lawful expense, <br /> etc. must be clearly understood by all licensees. <br /> Mayor Sather suggested discussing this issue at the upcoming <br /> worksession. He added that the original intent of the 50% <br /> trade area spending requirement was to encourage local <br /> benefit from charitable gambling. Councilmember Malone <br /> clarified that current City regulations, when practically <br /> applied, simply don't "work" any longer because of the <br /> financial effect of increased state burden on licensees. <br /> Temporary Accountant Post advised that an informal meeting <br /> has been scheduled for July lO, the purpose of which is to <br /> receive input from charitable gambling licensees. Counci 1 . <br /> agreed to revisit this issue at the July 20 worksession. <br /> DISCUSSION OF SITE PLAN REVIEW <br /> APPLICATION - DENNIS FOSTER <br /> Per request from Dennis Foster's attorney, Thomas Balyk, <br /> this agenda item was moved to the July 13, 1992 regular <br /> Council agenda. <br /> COUNCIL COMMENTS <br /> WORKSESSJ.mL SCHEDULING <br /> MOTION: Malone moved, seconded by Growe, to schedule a Council <br /> worksession on July 20, 1992 at 4:30 p.m. Motion <br /> carried unanimously (4-0). <br /> \i.E;LTHSON POND <br /> Councilmember Hicks thanked Councilmember Malone for <br /> summarizing the Keithson Pond issue for communication to <br /> residents. <br /> DEFEASANCE OF 1985 BONDS <br /> Temporary Accountant Post updated Council with regard to . <br /> defeasance of 1985 bonds and stated that the Finance <br /> Committee has studied this issue and provided <br />