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<br />. <br /> <br />. <br /> <br />. <br /> <br />ARDEN HILLS CITY COUNCIL - APRIL 14. 1997 <br /> <br />7 <br /> <br />2. <br /> <br />Resolution #97-18, Transferring Various Budgetary, Financial, Property, <br />and Personnel to the Arden Hills Economic Development Authority <br /> <br />Mr. Fritsinger explained the Council is asked to adopt Resolution #97-18 which transfers all <br />financial obligations from Fund 522, including all TIF Districts to the EDA who will oversee <br />these activities. <br /> <br />Councilmember Malone asked if the current negative balance of over $300,000 in Fund 522 was <br />correct and Mr. Post stated it was. Mr. Fritsinger noted this does not include the land transfer. <br /> <br />MOTION: <br /> <br />Hicks moved and Malone seconded a motion to adopt Resolution #97-18, <br />Transferring Various Budgetary, Financial, Property, and Personnel to the Arden <br />Hills Economic Development Authority. The motion carried unanimously (5-0). <br /> <br />3. <br /> <br />Resolution #97-19, Establishing Procedures Relating to Compliance with <br />Reimbursement Bond Regulations Under the Internal Revenue Code <br /> <br />Mr. Fritsinger explained the Council is asked to adopt Resolution #97-19 which allows the City <br />to reimburse itself from future bond proceeds for any expenditures incurred prior to bonds being <br />issued. These costs would include any staff time, engineering, legal, property acquisitions, etc. <br />which occur in the development of the Gateway Business District prior to the issuance of a <br />General Obligation TIF Bond. <br /> <br />MOTION: <br /> <br />Hicks moved and Aplikowski seconded a motion to adopt Resolution #97-19, <br />Establishing Procedures Relating to Compliance with Reimbursement Bond <br />Regulations Under the Internal Revenue Code. The motion carried unanimously <br />(5-0). <br /> <br />Councilmember Aplikowski asked if Council needed to be more specific. Mr. Fritsinger stated <br />the anticipated costs are included. Councilmember Aplikowski asked if anything more than a <br />consultant was needed would it be covered and Mr. Fritsinger stated it would. <br /> <br />ADMINISTRATOR COMMENTS <br /> <br />Mr. Fritsinger stated there have been recent discussions regarding the Cleveland Avenue Bridge <br />reconstruction. The current configuration is similar to what it is now. The cost estimate is <br />$1,000,000. The County is concerned because the roadway is relatively lightly traveled at 2300 <br />trips, and are considering if it makes economic sense to go ahead with a bridge design, Mr. <br />Fritsinger noted previous Council preferred a bridge crossing. The City of New Brighton has <br />identified concern about going with an at-grade crossing. They plan to send a letter stating they <br />would prefer a bridge crossing. Mr. Fritsinger stated he will send a letter from Arden Hills <br />Council indicating their support of the bridge if so directed by Council. <br />