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MINUTES <br /> DR EEN 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 /> CAL <br /> L L MEETI <br /> NG TO ORDER AN <br /> D ROLL <br /> O CALL:::»>::.: <br /> The <br /> meeting wa <br /> s called <br /> to order by Jim Ostl <br /> und <br /> and <br /> MEMBERS PRESENT: Maurice Gieske; Stan Ha ' 4 ad,.•council Liaison:...•A1 t:l. ers• <br /> Jeff Johnson; Jim Ostlund <br /> MEMBERS NO <br /> T PRES <br /> ENT: Scott Brons <br /> on <br /> OTHERS PRESENT: Sue Iverson, Finance Director; Joe Rue cc unting Analyst; <br /> Kristine Gig a, Civil Engineer <br /> 1. APPROVAL <br /> R O OF AG <br /> ENDA <br /> G NDA <br /> Motioned: Jeff John <br /> son <br /> son <br /> Secon <br /> ded:ded: Al Hilgers ers <br /> • 2.A APPROVAL OF January,; 2008 MINUTES <br /> One correction noted and":. <br /> er,pari 4.A. <br /> "...manufactured honitkl r, ted along H `101 " <br /> Motioned: Jeff Johnson. <br /> Seconded: ll' lgers <br /> 3.A. Assessment Polcy;. scssion- Continued <br /> Kris::G1 t mmarized the'a s ent policy discussion from the Januarymeeting. <br /> P Y g <br /> T t eAssessment: Johnson as f the City anYP has hadproblems dtoin assessments <br /> up`f ;;U w <br /> t as decided to kee thtime of the assessment u front ats theg Cit can refund <br /> any ovrnts. The 2040ssessments came in very close to the actual bids. <br /> Reconstructioniii is may; t semore su rise ex enses as it may uncover other <br /> replacement <br /> Mill & overlay projectr `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 /> S <br />