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'. Minutes of Regular Counci I Meeting May 23, 1983 'Page two ~nQlneer's Letter re 1990 Flow Rates Christoffersen reported that he wrote to Metro Councl I (5-18-83) explaining that his 1990 projections (1.56 MGD) were based on estimates of population and per capita flows; consider the esti- mates to be consistent with engineering design standards, but has no objection to Metro Council's use of Its estimates for planning purposes. (1.42 MGD) (Letter to be copied for Councl I) Discussion of Policy Statement and Guidelines for Industrial Revenue Bond Flnancln~ - Peter Popovich Bond Counse I Peter Popovich referred Councl I to draft of suggested Industrial Revenue Financing Policy/Procedural Memo for Council's consideration, which he said is simi lar to that adopted by Rosevllle. . Popovich noted that the purpose of "guidelines" is to assist the City In evaluating proposals; noted that Council may determine not to entertain any applications; suggested that Council look at the guidelines with reference to Arden Hills' particular circumstances; noted that I RB 's are schedu led to go out 9Y 1986. Popovich reviewed the "policy factors" and "guidelines" for consider- ation; noted that the "guidelines" should be a list of preferences which are considered indicative of community concerns and desires. He presented a list of guidelines that other cities have considered: -prefers commercial projects be owner occupied -does not give competitive advantage over existing businesses -project should be compatible with City's overal I development plans -project should not involve excessive demand on City services, or create safety or health hazards. -building be constructed to be multi-purpose, with good design etc. -project should be receptive to surrounding community -applicant should invest personally in the project In discussion of the suggested application requirements, Popovich included: -a non-refundable cash payment of $5,000 to the City at time of application, and -in addition, a $1,000 cash deposit to .be used by City for administrative and consulting costs (balance to be refunded after all costs are paid). -a statement defining the project, showing its compliance with Minnesota Statute 474, In detail, indicating the number of jobs created, yearly payroll anticipated and tax base created -a detailed breakdown of all anticipated costs -furnish certified annual audits for last 3 years -a list of offices and directors, and their biographies -banker's proposed Interest rates . -attorney's opinion regarding the legal description and status of title -construction schedule and time table -envl ronmenta I Impact statement as to effect on surrounding properties -a statement that applicant agrees to pay al I costs Incurred by the City and Its agents If not covered by the deposits. Popovich briefly discussed other conditions for consideration: -Size of Issue - probably not consider Issues of less than $1,000,000 because of costs -2-