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. . . ARDEN HILLS CITY COUNCIL - MARCH 30 1998 13 Mr. Aiken advised that they have researched several different policies and educated all who serve on the Committee. He stated they are taking a slow and reasoned approach but it is premature to assert the Finance Committee has come to any conclusion or that the policy should not be changed. Mr. Aiken stated that he also wants to address the comment made about the need to address the assessment shortfall. He stated the reason for the project cost increase has been due to the market but also consider that contractors are well aware of Statute 429 and the need for value increase. He noted that the properties in Arden Hills are valued higher than those in Mounds View and Mounds View received a lower per foot bid. Mr. Aiken stated the SWM Fund was established to take care of increased curbing and piping improvements to deal with drainage. He commented on the responsibility of the Watershed District and their taxing ability and noted their primary mission is to prevent flooding and improve water quality. He stated when the width of the road is increased and curb and gutter added, it also increases the amount of storm water generated. Councilmember Malone asked if the Finance Committee appointed him as a spokesperson. Mr. Aiken stated he is not representing them but wanted to state his position. Councilmember Malone stated Mr. Aiken had indicated he was not at the meeting, yet knew the Finance Committee addressed the 8% interest issue. Mr. Aiken stated the meeting was a work meeting that occurred prior to the Finance Committee meeting. He reviewed the alternatives presented by Mr. Post and stated he was referring to that memorandum. Councilmember Malone pointed out that Mr. Aiken had indicated the Finance Committee has not voted on the eight percent issue and had not concurred with an eight percent rate. Mr. Aiken explained that it has been stated and implied that the Finance Committee has agreed with an eight percent rate but there is no record of a vote being taken on that particular issue. Councilmember Aplikowski stated there has been no vote or resolution but an open discussion occurred about the interest range of 6.75% and up to 8% and it was discussed. She indicated that there is a difference of opinion between members of the Finance Committee on the amount that should be paid but there was no vote taken at that meeting. Mr. Aiken stated he is just presenting his comment as a resident who served for a year and one- half on the Finance Committee. Councilmember Malone stated he was only asking Mr. Aiken ifhe represented the Finance Committee. Mr. Aiken stated the answer is no. There were no other public comments.