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<br /> Minutes of Regular Council Meeting
<br /> Village of Arden Hills
<br /> Monday, December 17, 1984 - 7:30 p.m.
<br /> Village Hall
<br /> Call to Order
<br /> Pursuant to due call and notice thereof, Mayor Woodburn called the meeting
<br /> to order at 7:30 p.m.
<br /> Roll Call
<br /> Present - Mayor Robert Woodburn, Councilmembers Thomas Mulcahy, Nancy
<br /> Hansen, Kathleen Rauenhorst, Dale Hicks
<br /> Absent - None
<br />. Also Present - Treasurer Donald Lamb, Bond Counsel Tom Deans, Clerk Administrator
<br /> Charlotte McNiesh, Deputy Clerk Dorothy Zehm
<br /> . Approval of Minutes
<br /> Hansen moved, seconded by Mulcahy, that the Minutes of the December 3rd .
<br /> Council meetin9 be approved as amended. Motion carried unanimously. (5-0)
<br /> Business from the Floor
<br /> None
<br /> Resolution No. 84-48, Approving MN Dot Preliminary Plans - layout No. 15
<br /> Council was referred to Preliminary Plan Layout 15 which involves adding a
<br /> lane and an approach lane to 1-694, east bound, from 35W, tapering to 2 lanes
<br /> at Snelling Avenue.
<br /> Rauenhorst moved, seconded by Mulcahy, that Council adopt Resolution No. 84-48,
<br /> RESOLUTION FOR LAYOUT APPROVAL, based on the recommendation of approval by
<br /> City Engineer Christoffersen. Motion carried unanimously. (5-0)
<br /> Approval of Change Order No.1, Improvement No. SS-W-P-ST-84-2, lametti Addition
<br /> Council was referred to Change Order No. 1, SS-W-P-ST~84-2. which represents
<br /> the re-connection of the existing Lametti house to the new sanitar sewer (not
<br /> included in the original specifications).
<br /> Rauenhorst moved, seconded by Hicks, that Council approve Change Order No.
<br /> 1, in the amount of $2,378.45. Motion carried unanimously. (5-0)
<br /> Final Bond Resolution No. 84-50, Industrial Development Revenue Bonds for
<br /> Veterinary Care Facility - Routhe
<br /> Bond Counsel Tom Deans distributed copies of $235,000 CITY OF ARDEN HILLS
<br /> COMMERCIAL DEVELOPMENT REVENUE NOTE OF 1984 (PET CARE PARTNERSHIP PROJECT)
<br /> (dated 12/17/84) and draft of Resolution No. 84-50
<br /> Deans explained that the project size is reduced from $400,000 to $235,000;
<br /> borrower is a 4-member partnership (Pet Care Partnership) composed of Richard
<br /> Routhe, Richard Hiner, Cheryl Hiner and Ronald Zimmerman; noted that the pro-
<br /> ject will be the same; reported that the date on the $235,000 note is antici-
<br /> pated to be December 28, 1984 at 11 5/8% interest thru April 1988; noted that
<br />. the interest rate will be adjusted May 1 of each year following through 1984,
<br /> to a rate l%/year in excess of the 2 year U.S. Treasury Notes, and will
<br /> balloon after 10 years. The lender will be North Star State Bank, Roseville.
<br /> Deans noted that a life insurance policy on Dr. Routhe, and a corporate
<br /> guarantee by Arden Shoreview Animal Hospital will be executed in addition to
<br /> an assignment of leases and rents, and a personal guarantee by Dr. Routhe,
<br /> as security for the Note.
<br /> Mulcahy asked if the change to a partnership strengthens the project, Deans
<br /> said, as far as the City is concerned, it is a better guarantee; noted that,
<br /> in the bank's opinion, $235,000 is the amount that should be loaned. Routhe
<br /> said the total building cost, according to specifications, is $415,000; stated
<br /> that because of costs already incurred, IDRB financing is more financially
<br /> acceptable than conventional financing.
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