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<br /> -------- ------- <br /> ---------- - <br /> I - "" -, .~ ..~ T <br /> u""'" <br /> ,'.~, ? - r <br /> > - - +.' <br /> , a 't. K'""\ <br /> I ARDEN HILLS CITY COUNCIL - JANUARY 13.1997 5 <br /> ~ request for EDA Commissioner approval once additional information is known regarding the <br /> other City economic development activity options, <br /> I Mayor Probst requested clarification that this was a request to only set up the fund at this time, <br /> and not a budget Mr. Fritsinger stated this was the case, <br /> I Councilmember Aplikowski inquired if this could be done automatically by the City Council, <br /> Mr. Fritsinger stated the City Council could for the budget, but not for the fund. <br /> I Councilmember Malone inquired if this new fund would be co-mingled with other money. Mr. <br /> Post indicated that it would be placed in a separate account <br /> I MOTION: Malone moved and Keirn seconded a motion to authorize the creation of an EDA <br /> fund account for the CPI Loan Fund and staff to investigate a depository <br /> I relationship in which to deposit and expend funds of the EDA. The motion <br /> carried unanimously (5-0). <br /> I D. Quad Ice Arena Agreements <br /> .. Mr. Fritsinger reported the Council is being asked by the Minnesota Amateur Sports <br /> Commission (MASC) to consider approval of the National Sports Center Ice Arena Master <br /> Agreement MASC has requested that action be taken on this item prior to January 28, 1997. He <br /> I further stated that the Council should also consider approval of the Supplemental Agreement <br /> with the Hockey Associations and Ramsey County. <br /> I Master A~reement <br /> Mr. Fritsinger reviewed the content of the Master Agreement with regard to Terms, Financing, <br /> I Facility Operation, Joint Board, Obligations, Budget, Ice Usage, Financing Operations, <br /> Operating Expenses, and Construction of Facility. He stated an agreement has been reached <br /> with the MASC that no similar projects will be started in the State of Minnesota. Mr. Fritsinger <br /> I explained the MASC would be responsible for the fourth sheet of ice at this time, as no <br /> community has stepped forward to purchase it The MASC will continue to pursue other tenants <br /> for this sheet. Mr. Fritsinger advised that City Managers have met to discuss the impact on <br /> I municipal bond ratings. The City's financial advisors have indicated that the obligation is a <br /> disclosure item on any future bond issuance, and that there is no direct impact on bondable <br /> I capacity. <br /> Mr. Fritsinger indicated that should the City approve the agreements, Staff would recommend <br /> I approval with the following conditions: <br /> 1. Participation in the project by each member of MANS (Mounds View, Arden Hills, New <br /> fI' Brighton and Shoreview). <br /> I <br /> ---------------- ---~-- -------- <br />