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<br /> MINUTES <br /> CITY OF ARDEN HILLS, MINNESOTA <br /> WORKSESSION ! <br />-- MONDAY, AUGUST 18, 1997 <br /> 4:45 P.M, - ARMY RESERVE CENTER - 4655 LEXINGTON A VENUE NORTH <br />I CALL TO ORDER/ROLL CALL <br />I Pursuant to due call and notice thereof, Mayor Dennis Probst called to order the City Council <br /> Worksession at 4:45 p.m. Present were Councilmembers Beverly Aplikowski, Dale Hicks, <br /> Susan Keirn and Paul Malone; City Accountant, Terry Post; Community Development Director, <br />I Kevin Ringwald; Public Works Superintendent, Dwayne Stafford; Parks and Recreation <br /> Director, Cindy Walsh; and Administrative Secretary, Sheila Stowell. City Administrator, Brian <br /> Fritsinger, was not present. <br />I APPROVAL OF MEETING AGENDA <br />I MOTION: Aplikowski moved and Hicks seconded a motion to approve the meeting agenda <br /> for the August 18, 1997 Worksession as revised to accommodate the guests. The <br />I motion carried unanimously (5-0). <br /> CITY ISSUES - SHORT TERM <br />Ie a. Gateway Business District (GBm <br />I 1. Welsh Development Agreement <br /> Mr. Ringwald provided a bench handout with further clarifications between <br /> Welsh Companies and the City which had been revised and under discussion <br />I since the previous Development Agreement reviewed by the City Council at their <br /> July 21, 1997 Worksession. Those items included the project scope, construction <br /> time frame and detail; issuance of General Obligation Tax Increment Financing <br />I bonds to pay for public improvements on the relocated Fourteenth Street and <br /> Round Lake Road/Highway 96 intersection; projected increased tax revenues for <br />I the Phase I, II, III and IV projects to cover the debt service of the bonds; <br /> minimum and maximum square footage of each building; projected construction <br /> start dates for public improvements; and special assessments. <br />I The City's consulting development attorney, Bob Deike, was in attendance to <br /> provide assistance to the City Council and staff regarding specific items included <br /> in the draft agreement. c~ <br />I <br /> 2. Bond Issuance <br />I Mr. Post provided a brief overview of the proposed bond issuance, and introduced <br /> Mr. Mark Ruff and Ms. Shelly Eldridge, representatives of the City's Financial <br />.. Advisor, Ehlers and Associates, Inc. Mr. Ruff was present to answer questions <br /> from the City Council and staff regarding the proposed issuance of General <br /> Obligation Tax Increment Financing bonds to finance the public improvements <br />I <br />