2020-04-22 CC Packet - Laserfiche WebLink

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scheduled to be presented at the last meeting in May. We will update the City Council on the fund balance when the auditors provide us with any adjusting entries that need to be made. City Hall Copier Staff is working to get the new copier installed at City Hall. Cash Flow Staff has updated the cash flow model used for investment purposes. The model shows that we will have sufficient funds available for regular operations and the downtown street project even if property st tax receipts are delayed due to any potential Coronavirus changes in due dates for 1 half property taxes. Escrow Review Staff has completed several escrow reviews, but continues to work on the remaining accounts. COMMUNITY DEVELOPMENT Comprehensive Plan The next step is for the City to formally adopt it and send Met Council notification of our action. Old Mill Estates The developer is working on buttoning up the Phase I improvements and has requested a letter of credit reduction, which is on this agenda. Work remaining, includes the construction of trails and sidewalks, wear course paving and general site stabilization and finish grading. A Letter of Credit reduction was approved, for Phase I, at the last City Council meeting. Phase II improvements are being put on hold as the housing and financial markets stabilize. Bay View Villas (Waterworks Site) Home building continues and the developer has addressed erosion control and public safety issues. Work will soon begin on finalizing remaining improvements, such as driveway construction for the LaValle Drive residents and general site stabilization. We understand there are only 4 lots left! Block 7 Property A discussion on this project is on the City Council Work Session agenda. Below is the most recent email exchange with the developer (: Roger, We have a new Mayor. Councilmember D. Love was appointed to that position on March 25. On April 8, the City Council appointed former Mayor Tom Wilharber to fill the vacant council seat.