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ARDEN HILLS CITY COUNCIL—September 14, 2009 27 <br /> 9. Council Comments and Requests(continued) <br /> Finance Director Iverson stated that the Fire Department does not bill the City for <br /> shortages. <br /> Councilmember Holden stated that she would rather see the costs where they are <br /> actually than the budget being padded in other areas. <br /> Mayor Harpstead stated that he had attended the Regional Council of Mayors and <br /> Bill Melton, from IDS Financial Services, had spoken. The idea was that the end of <br /> the recession is in sight but the bottom will not be reached for another six months. <br /> Mayor Harpstead stated it was also shared that it could be two years before the <br /> states unemployment level reaches the level it was in 2007. Economic stimulus is <br /> going to stay low for two years and there will be no inflation pressure for two years. <br /> He will provide a copy for the Council. <br /> Councilmember Grant asked if there was any reasoning why the inflation rate <br /> would stay low for two years. <br /> Mayor Harpstead stated that he did not see a growth engine on the horizon that <br /> would drive up demand. <br /> Councilmember Holden stated that there had been a Northwestern Youth and <br /> Family Services meeting today. They discussed the new building that was <br /> constructed and having to get a new mortgage in two years due to the low donations <br /> they have received. There had been several banks present at the meeting saying that <br /> they would not want to renegotiate their mortgage due to double-digit increases <br /> they were expecting over the next couple of years. <br /> ADJOURN <br /> MOTION: Councilmember McClung moved and Councilmember Grant <br /> seconded a motion to adiourn. The motion carried unanimously <br /> (5-0)* <br /> Mayor Harpstead ad'ourned the Regular City Council Meeting at p.m. <br /> 60, sop, 6.01 <br /> Stan H st ad Ronald J. oorse <br /> Mayor City Administrator <br />