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ARDEN HILLS CITY COUNCIL WORKSESSION - MARCH 16.1998 3 . with the exception ofthe vault and rough in restrooms. Ms. Sterner stated that the initial footprint of the building remains at approximately 9,800 square feet. Mayor Probst stated that, in an effort to keep the City Council's public commitment to stay on track with the budget, the lower level may need to remain as raw space, programmed for future modifications, rather than including a community room at this time. It was the consensus of the Council that, with recent discussions regarding staffing levels, the mezzanine area to be used immediately be completed, with the remainder of that level receiving a minimum of drywall and paint until further use is determined. It was the consensus ofthe Council regarding the lower level to provide finished out bathrooms, inexpensive floor treatments, vault, painted walls, future community space, and bid additional amenities as an alternate. Consensus among Councilmembers was that, should the bids come in more competitively than expected, more alternates could be included. The City Council also agreed that the fireplace will remain. The mechanical systems should be reviewed in order to reduce costs for this item. Mr. Fritsinger stated he would be in contact with Architectural Alliance staff following . discussions regarding staffing proposals to be discussed later that evening. Mayor Probst left the meeting at 6:45 p.m., turning the meeting over to Acting Mayor, Dale Hicks. b. Assessments. 1998 Street Imvrovement Project 1. Interest Rate Mr. Post reviewed assessment rates from a City-historic and statutory basis. He stated that the City Council needed to consider, since the City generally internally finances these projects, that the City should receive a comparable yield as those funds available for investment by the City. Mr. Post suggested several options for the Council to consider. After further discussion, staff was directed to prepare a resolution for Council consideration at the March 30, 1998 City Council meeting, with an interest rate at the Federal Reserve ten year constant maturity for the week ended March 25, 1998, plus one Percent (1.0%) with an upper cap at eight percent (8%) and a lower cap at six percent (6%). 2. Alternative Roll . Previously, the City Council had directed staff to prepare several alternate assessment rolls for their consideration.