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MINUTES <br /> -A HILLS <br /> • <br /> FINANCIAL PLANNING & ANALYSIS COMMITTEE <br /> Tuesday, February 12, 2008 <br /> 6:00 P.M. <br /> Upstairs Conference Room, Arden Hills City Hall <br /> CALL MEETING TO ORDER AND ROLL CALL <br /> The meeting was called to order by Jim Ostlund at 6:01pm. <br /> MEMBERS PRESENT: Maurice Gieske; Stan Harpstead, Council Liaison; Al Hilgers; <br /> Jeff Johnson; Jim Ostlund <br /> MEMBERS NOT PRESENT: Scott Bronson <br /> OTHERS PRESENT: Sue Iverson, Finance Directo ", oe Rueb, Accounting Analyst; <br /> Kristine Giga, Civil Engineer <br /> 1. APPROVAL OF AGENDA <br /> Motioned: Jeff Johnson <br /> Seconded: Al Hilgers <br /> • 2.A APPROVAL OF January 8th, 200. . S <br /> One correction noted under .A. <br /> "...manufactured homes ate wy 10/96." <br /> s <br /> Motioned: Jeff John 414 <br /> x,. <br /> Seconded: Al <br /> 3.A. Assessment Policy Disc's n - Continued <br /> Kris Giga summarized the assessment policy discussion from the January meeting. <br /> Time of assessment: Johnson asked if the City has had any problems doing assessments <br /> up front. It was decided to keep the time of the assessment upfront as the City can refund <br /> any over assessments. The 2007 assessments came in very close to the actual bids. <br /> Reconstruction projects may cause more surprise expenses as it may uncover other <br /> replacement needs. <br /> Mill & overlay projects are assessed over five years. Complete reconstruction projects <br /> are assessed over ten years. Assessments cannot last longer than the life of the asset. In <br /> 2006 approximately 2/3 of assessments are paid up-front. <br /> We will always recover our money. Residents have the ability to pay off the assessment <br /> right away or they can make installments with interest. <br /> • <br />