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Minutes of the Arden Hills Regular Council Meeting, 10-15-91 Page 6 . HRING (Cont'd) '!he Administrator noted that Presbyterian Hames is in the process of refinancing and renovating the existing facilities, =nsistent with the City comprehensive plan, He stated the proposal would be a=rplished by =nverting private financing to public bonds and thereby saving approximately 3 percent in interest costs for Presbyterian Hames. Berger noted the savings would be passed on to the senior citizens resiclin:J at the facility by charging less for rents. Dan Lind, representing Presbyterian Hames, was present, Council recalled previous discussions f= issuance of revenue bonds, Dan Lind advised a request f= revenue bonds was sul:xnitted and approved in 1978; noted the bonds would be Health Care revenue bonds, not industrial revenue bonds. Lind gave a brief background of the proposal and information relative to the future savings f= the residents of the facility, Hicks moved, seconded by Growe, to schedule a Public Hearing on Monday, November 25, 1991, at 7:30 p.m., at city Hall, Motion carried unanimously, (5-0) RES. #91-55; Council was referred to a memorandum fram the Clerk QH>1, DVUMI'. Administrator dated 10-10-91, relative to the request BLOCK GRANT, from Ramsey County for Arden Hills to execute the illBG AGREEMENr agreement. . The Administrator explained. this item was =ntinued to allow staff to review Section N, and address =ncerns relating to this section, He advised Judy Karon has clarified the process in her letter dated 10-2-91- eouncilmember Malone stated his =ncerns have been addressed by the response fram Ms, Karon, Growe moved, seconded by Mahowald, to adopt Resolution No, 91-55, RELI\TING TO AUI'HORIZATION TO EXECIJI'E 0>>lMUNITY DEIlEIDPMENI' BLOCK GRANT, as requested by Ramsey County, Motion carried unanlinously, (5-0) S'I'a'lE AVENUE; Council was referred to the Feasibility study f= stowe FEASIBILITY STODY Avenue Improvements dated October 1991, sul:xnitted by the city Engineer, Engineer Maurer stated the report was somewhat modified to clarify the financing section of the document. He stated the =nclusion of the report is that it may not be possible to meet the expectations of the petition received by the City. Maurer suggested Council =nsider scheduling an informal meeting with residents to review the findings of the feasibility study and indicate it may be in their best interest to wait for the County to undertake the project. Mayor Sather questioned if staff has =ntacted officials in the City of New Brighton regarding inprovement of the portion of stowe Avenue located in their . canununity . Clerk Administrator Berger stated he has spoken with the Public Works Director on two occasions and was advised New Brighton would pursue the project in their canununity should Arden Hills undertake the improvement project,