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<br />. <br /> <br />. <br /> <br />. <br /> <br />Arden Hills Council <br /> <br />8 <br /> <br />June 29, 1992 <br /> <br />profit contribution requirement retroactive to 1/1/92; <br />Council consider imposing a 1% gambling tax. <br />In recognition of state tax burdens, reduce trade area <br />spending requirements from 50% to 30% <br />Initiate the use of a standardized reporting format for <br />charitable gambling licensees. <br /> <br />Post added that his research revealed that state laws, which <br />changed after the adoption of the City regulations, make the <br />City regulations somewhat unrealistic. He added that <br />definitions of gross profit, net profit, lawful expense, <br />etc. must be clearly understood by all licensees. <br /> <br />Mayor Sather suggested discussing this issue at the upcoming <br />worksession. He added that the original intent of the 50% <br />trade area spending requirement was to encourage local <br />benefit from charitable gambling. Councilmember Malone <br />clarified that current City regulations, when practically <br />applied, simply don't "work" any longer because of the <br />financial effect of increased state burden on licensees. <br /> <br />Temporary Accountant Post advised that an informal meeting <br />has been scheduled for July 10, the purpose of which is to <br />receive input from charitable gambling licensees. Council <br />agreed to revisit this issue at the July 20 worksession. <br /> <br />DISCU~~lON OF SITE PLAN REVIEW <br />APPLICATION - DENNIS FOSTER <br /> <br />Per request from Dennis Foster's attorney, Thomas Balyk, <br />this agenda item was moved to the July 13, 1992 regular <br />Council agenda. <br /> <br />COUNCIL C9!IcMENT1i <br /> <br />WORKSESSION SCHEp_~~NG <br /> <br />MOTION: <br /> <br />Malone moved, seconded by Growe, to schedule a Council <br />worksession on July 20, 1992 at 4:30 p.m. Motion <br />carried unanimously (4-0). <br /> <br />KEITHSON POND <br /> <br />Councilmember Hicks thanked Councilmember Malone for <br />summarizing the Keithson Pond issue for communication to <br />residents. <br /> <br />DEFEASANCE OF 1985 BONDS <br /> <br />Temporary Accountant Post updated Council with regard to <br />defeasance of 1985 bonds and stated that the Finance <br />Committee has studied this issue and provided <br />