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05-13-08
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2008
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05-13-08
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MINUTES <br /> ISREN HILLS <br /> • FINANCIAL PLANNING & ANALYSIS COMMITTEE <br /> Tuesday, April 8, 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 Scott Bronson at OOpm <br /> MEMBERS PRESENT: Scott Bronson; Maurice Glesk:e;Sian Harpstead, ci Cpun <br /> Liaison; Al Hilgers; Jeff Johnson; Jim Ostlund <br /> MEMBERS NOT PRESENT: <br /> OTHERS PRESENT: Sue Iverson, Finance Director,Joe Ruch;Accounting Analyst; <br /> Stacie Kvilvang, Ehlers <br /> Call to Order <br /> 1. APPROVAL OF THE AGENDA <br /> Motioned: Maurice Gieske <br /> Seconded: Jim Ostlund <br /> • 2. APPROVAL OF February 12.,2008 MINUTES <br /> Motioned: Jim Ostluic . <br /> Seconded: Jeff John*t » ;:;,. <br /> 3. UNFINI.SEL"< D:;NEW 1 S +TSS::>:;. <br /> `'; > v van <br /> t�'c;< �` ' �AP Star:.:::.:; ::: ; : g <br /> ,Sig ' er explained <br /> ined that Ehlers is trying to <br /> `` vlva� �'T ::project an,.::g P <br /> -s::.: . <br /> ,:; ae the project s:� �' ;�ao get the estimates more accurate. Ehlers is also <br /> reviewing Ryan Co carrying;costs and equity investors. They are looking into <br /> cheaper equity investorso `ing cost savings to the project. <br /> The developer has requested two forms of assistance: <br /> 1 429 O Assessment Bonds (special assessment bonds) <br /> .:a ; ;ties generally used 429 bonds for roadway and utility <br /> improvements <br /> b. `Must assess at least 20%back to benefiting property owners. <br /> i. Ryan <br /> ii. Future housing developers or future users <br /> c. Low carrying costs <br /> d. Low risk propositions <br /> • City of Arden Hills <br /> 1245 West Highway 96•Arden Hills Minnesota 55112 <br /> Phone 651.792.7800•Fax 651.634.5137 <br /> www.ci.arden-hills.mn.us <br />
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