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ARDEN HILLS CITY COUNCIL WORK SESSION - NOVEMBER 17, 2008 7 properties. Ms. Diaz indicated the proposed breakdown include a 4 Yz% increase. She noted the sewer rate structure would not be changed in any other way. Discussion ensued regarding the fee differences between single family residential and multi-family dwellings. Finance Director Iverson reviewed how the surplus funds would be used on future capital improvements within the City and which years would draw on these funds. She indicated the City would be building cash balance in order to handle future unexpected repairs. Mayor Harpstead was in favor of the suggested rates as they were in alignment with neighboring communities. Councilmember Holmes questioned what would happen in 2011 when there was a large gap. Finance Director Iverson stated an Interfund loan could be used and paid back if needed. She indicated this large gap was created due to a large budgeted capital improvement involving storm sewer ponds. Mayor Harpstead recapped utility rate study discussion noting the Council was in favor of rate structure, Option 2, phasing out the senior meter discount and rate usage by 2011. He indicated the storm sewer increase would be a 4 Yz% bump with no change in the rate structure. The Council was in agreement with these conclusions. The Council took a five minute recess. B. Capital Improvement Plan City Administrator Moorse presented the Council with a broad overview of the Capital Improvement Plan (CIP) and the guiding plan. He explained this was a working document and guiding plan for multi-year capital needs. City Administrator Moorse indicated the CIP would assist the Council in matching large future capital expenses to a funding plan. He further reviewed a power point presentation with the Council. City Administrator Moorse noted the City did have a healthy balance in the Capital Improvement Fund at this time gaining interest. He indicated the City was