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1991_0225_packet
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1991_0225_packet
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REQUEST FOR COUNCIL ACTION <br />Department Approval: <br />Manager Reviewed: <br />6 <br />DATE: 2/25/91 <br />ITEM NO.: S <br />Agenda Section: <br />Consent Agenda <br />Item Description: Resolution for Metropolitan Council Loan. <br />Background <br />The Roseville and Falcon Heights City Councils, at their January 24 <br />meeting, instructed the staff to prepare an application for a local <br />planning assistance loan from the Metropolitan Council. The loan is <br />interest free, for a term of three years, and would cover up to 75 <br />percent of the cost of the "Opportunities for Cooperation Study." <br />Financial Implications <br />The total estimated cost of the study is $50,800, including consultant <br />charges of $31,300 and an estimated staff cost of $19,500. A 75 percent <br />loan would be $38,100. The loan would be more than sufficient to cover <br />the cost of the consultant. The remaining 25 percent, or $12,700 would <br />be staff time from both cities. <br />Recommendation <br />It is recommended the Council adopt a resolution authorizing the City <br />Manager to submit an application for the loan. <br />COUNCIL ACTION REQUESTED: <br />Motion adopting a resolution authorizing the City Manager to submit an <br />application to the Metropolitan Council for a $38,100 three year loan. <br />
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