2007 02-20 CC MINUTES - Laserfiche WebLink

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Minutes of City Council Meeting 20 February 2007 The February, 2007 regularmeeting of :the. City Council of the City of Gem Lakewas called to order by Mayor Emeott on Tuesday,. February 20, 2007 at 7:09.p.m. in the first floor meeting room of Tousley Ford. Mayor Emeott, Councilors Watson, Schilling; and Artig-Swomley were present. Also present were. Bonding Financial Advisor, Todd Hagen of Ehlers & Associates, .Inc.; Mark Sweet, Construction Manager; Justin. Gese; City Engineer; and City Attorney Trevor Oliver. Other :members of the public werealso in. attendance per the sign -in sheet sentaround the room. APPROVAL OF AGENDA AND MEETING. MINUTES Mayor Emeottthen called for additions, deletionsand corrections to the Agenda. Mayor Emeott added New Business Item E; Financial (Treasurer's) Report. No other changes to the agenda were. noted. The following actions were taken 1) Motion by Watson, Second by Schilling to acceptthe change to the agenda was unanimously approved; 2) Motion by Schilling, Second by Watson to approve the Minutes of the January 16, 2007 City Council Meeting was unanimously approved. Public. Hearing: Todd Hagen of Ehlers & Associations, Inc. explained that tonight's Public Hearing was for consideration to approve a resolution giving preliminary approval for the issuance of the City's. General Obligation Capital Improvement Plan bonds in an amount notto exceed $850,000.00; and adopting the City of Gem Lake Minnesota Capital Improvement Plan of 2007 through 2011. therefore. The bond willhave a 20. year pay back period. There will be a debt service the first 10 years of $45,000; and then$70,000 over each of the. remaining 10 years. The total amountof expenditures proposed under the Capital Improvement Plan is approximately $1,129,463, including approximately $376,488 to be provided by White Bear. Township, and the sale by the City of Gem Lake of approximately $785,000 in bonds be paid for over a twenty year period. In response to a question why that particular amount is proposed to be bonded, Todd Hagen explainedthat enough. needs to be bonded for to cover all costs.. The bond is foran amount "not to exceed" $850,000,00. A question was asked, if the building is only 3.,500 square feet, the $1.2 million cost seems high. Todd Hagen explained that because it will be a commercial building certain codes need to be met, such as fire spiinklers,handicap accessibility, and mechanicals. The building will be used as Gem Lake's City Hall. White Bear Township will have two meetings thereeach month and will use thefacility as a polling place for precinct 4. It will also include an office to serve as a substation for the Ramsey County Sheriff Department. The Town will provide the buildable site and extend utilities. to the building. Watson noted that Gem Lake is creating a city asset with this building. A question was asked if the project requires 10%.:or 20% for contingencies. Mayor Emeott noted that 10% has been. allowed. for contingencies. 1