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<br /> MINUTES <br />. CITY OF ARDEN HILLS, MINNESOTA <br /> WORKSESSION <br /> MONDAY, AUGUST 18, 1997 <br /> 4:45 P.M. - ARMY RESERVE CENTER - 4655 LEXINGTON A VENUE NORTH <br /> CALL TO ORDERlROLL CALL <br /> Pursuant to due call and notice thereof: Mayor Dennis Probst called to order the City Council <br /> Worksession at 4:45 p.m. Present were Councilmembers Beverly Aplikowski, Dale Hieks, <br /> Susan Keirn and Paul Malone; City Aceountant, Terry Post; Community Development Direetor, <br /> Kevin Ringwald; Public Works Superintendent, Dwayne Stafford; Parks and Recreation <br /> Direetor, Cindy Walsh; and Administrative Secretary, Sheila Stowell. City Administrator, Brian <br /> Fritsinger, was not present. <br /> APPRO V AL OF MEETING AGENDA <br /> MOTION: Aplikowski moved and Hicks seconded a motion to approve the meeting agenda <br /> for the August 18, 1997 Worksession as revised to accommodate the guests. The <br /> motion carried unanimously (5-0). <br />- CITY ISSUES - SHORT TERM <br /> a. Gateway Business District (GBD) <br /> 1. Welsh Development Agreement <br /> Mr. Ringwald provided a bench handout with further clarifications between <br /> Welsh Companies and the City which had been revised and under discussion <br /> since the previous Development Agreement reviewed by the City Council at their <br /> July 21,1997 Worksession. Those items included the project scope, construction <br /> time frame and detail; issuance of General Obligation Tax Increment Financing <br /> bonds to pay for public improvements on the relocated Fourteenth Street a11d <br /> Round Lake Road/Highway 96 intersection; projected increased tax revenues for <br /> the Phase I, II, III and IV projeets to cover the debt service of the bonds; <br /> minimWll and maximum square footage of each building; projected construction <br /> start dates for public improvements; and special assessments. <br /> The City's consulting development attorney, Bob Deike, was in attendance to <br /> provide assistance to the City Council a11d staffregarding specific items included <br /> in the draft agreement. <br /> 2. Bond Issnance <br /> Mr. Post provided a brief overview of the proposed bond issuance, and introduced <br />. Mr. Mark Ruff and Ms. Shelly Eldridge, representatives of the City's Financial <br /> Advisor, Ehlers and Associates, Inc. Mr. Ruff was present to answer questions <br /> fro111 the City Couneil and staff regarding the proposed issuance of General <br /> Obligation Tax Increment Financing bonds to finance the public improvements <br />