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. . Minutes of Regular Council Meeting Monday, December 17, 1984 - 7:30 p.m. Page Two Hicks asked Routhe if his projected budgets are still the same as presented previously - Answer: Yes Hicks asked Routhe if a 1st year $162,000 gross, and a net income of $50,000 is realistic; noted that some veterinarians say these estimates are "out of line". Hicks also noted that, in the November 1984 Vet Economics Magazine, $101,000, with a $42,000 net income is projected as average. Hicks asked again if Routhe's projections are realistic. . Answer: Yes, feels they are definitely not out of line, has an established clientele, not "starting from scratch". Hicks noted that based on letters received, residents apparently do not under- stand revenue bonds; asked Deans for verification of the following: 1. No money will be used from the Arden Hills Treasury. Deans confirmed that no money from Arden Hills, or from any State or Federal Treasury will be used. 2. Do revenue bonds generate income to State and Federal. Deans answered only from new jobs, income tax and building property tax increases by having the facility on this property; do not generate interest income to State and Federal since bond interest is tax exempt. 3. If the project fails, who pays the unpaid balance? Deans said the lender could operate the facility, lease or sell the pro- perty, and apply the proceeds to pay any balance owed; no City liability; doesn't cost taxpayers. Routhe confirmed that the building will be built as previously approved by the Council. Rauenhorst moved, seconded by Hicks, that Council adopt Final Bond Resolution No. 84-50, INDUSTRIAL DEVELOPMENT REVENUE BONDS FOR VETERINARY CARE FACILITY -ROUTHE. Woodburn said taxpayers do pay in the end because of the tax exempt status of the interest on bonds; because Council has approved the first resolution, he will support the motion. Motion carried unanimously. (5-0) A roval of Winter Pro ram leaders and Council was referred to Buckley's memo the hiring of 1984-85 Winter Program Personnel. Hicks moved, seconded by Hansen, that Council approve the 1984-85 Winter Program Personnel as outlined in Buckley's memo. Motion carried unanimously. (5-0) Parks and Recreation Committee Recommendation - Tax Forfeited Land, Lot 7, . Block 1 and Lot 6, Block 2, Janet Estates Council was referred to Minutes of the Parks and Recreation Committee meeting of 12/11/84, recommending that Council accept Parks Director Buckley's recommendation that the Village not use the lots for park purposes. Rauenhorst moved, seconded by Hicks, that Council concur with the Parks and Recreation Committee's recommendation, and adopt Resolution No. 84-49, RESOLUTION APPROVING THE CLASSIFICATION OF THE PARCELS OF FORFEITED LAND AS NON-CONSERVATION lANDS AND AUTHORIZING THE SALE THEREOF. Motion carried unanimously. (5-0) Human Rights Commission Recommendation - 1985 Pacer Program Expenditure Rauenhorst moved, seconded by Mulcahy, that Council approve the $100.00 1985 Pacer Program Expenditure recommended by the Human Rights Commission. Motion carried unanimously. (5-0) -.