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<br />- <br />- DRAFT <br />- ARDEN HILLS CITY COUNCIL - APRIL 14. 1997 7 <br />-e 2. Resolution #97-18, Transferring Various Budgetary, Financial, Property, <br />I <br /> and Personnel to the Arden Hills Economic Development Authority <br />I Mr. Fritsinger explained the Council is asked to adopt Resolution #97-18 which transfers all <br /> financial obligations from Fund 522, including all TIF Districts to the EDA who will oversee <br /> these activities. <br />- <br />- Councilmember Malone asked if the current negative balance of over $300,000 in Fund 522 was <br />I correct and Mr. Post stated it was. Mr. Fritsinger noted this does not include the land transfer. <br /> MOTION: Hicks moved and Malone seconded a motion to adopt Resolution #97-18, <br />I Transferring Various Budgetary, Financial, Property, and Personnel to the Arden <br /> Hills Economic Development Authority. The motion carried unanimously (5-0). <br />I 3. Resolution #97-19, Establishing Procedures Relating to Compliance with <br /> Reimbursement Bond Regulations Under the Internal Revenue Code <br />I Mr. Fritsinger explained the Council is asked to adopt Resolution #97-19 which allows the City <br /> to reimburse itself from future bond proceeds for any expenditures incurred prior to bonds being <br /> issued. These costs would include any staff time, engineering, legal, property acquisitions, etc. <br />Ie which occur in the development of the Gateway Business District prior to the issuance of a <br /> General Obligation TIF Bond. <br />I MOTION: Hicks moved and Aplikowski seconded a motion to adopt Resolution #97-19, <br /> Establishing Procedures Relating to Compliance with Reimbursement Bond <br />I Regulations Under the Internal Revenue Code. The motion carried unanimously <br /> (5-0). <br />I Councilmember Aplikowski asked if Council needed to be more specific. Mr. Fritsinger stated <br /> the anticipated costs are included. Councilmember Aplikowski asked if anything more than a <br /> consultant was needed would it be covered and Mr. Fritsinger stated it would. <br /> I ADMINISTRATOR COMMENTS <br /> I Mr. Fritsinger stated there have been recent discussions regarding the Cleveland A venue Bridge <br /> reconstruction. The current configuration is similar to what it is now. The cost estimate is <br /> $1,000,000. The County is concerned because the roadway is relatively lightly traveled at 2300 <br /> I trips, and are considering if it makes economic sense to go ahead with a bridge design. Mr. <br /> Fritsinger noted previous Council preferred a bridge crossing. The City of New Brighton has <br /> I identified concern about going with an at-grade crossing. They plan to send a letter stating they <br /> would prefer a bridge crossing. Mr. Fritsinger stated he will send a letter from Arden Hills <br /> Council indicating their support of the bridge if so directed by Council. <br /> ,. <br /> I <br />