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<br />Regular City Council Meeting <br />Monday, March 12,2007 <br />Page 7 <br /> <br />c. Reimbursable Twin Lakes-related Items <br />City Manager Malinen and Finance Director Miller reviewed those <br />items identified as Twin Lakes-related expenses. <br /> <br />Councilmember Ihlan questioned whether the items were reimburs- <br />able from the developer's Letter of Credit. <br /> <br />Mr. Miller advised that the expenditures were being tracked through <br />internal accounting procedures at this time, and at some future point, <br />costs not reimbursed would be identified and subtracted from the re- <br />maining funds guaranteed under the Letter of Credit. <br /> <br />Councilmember Ihlan questioned when that would be. <br /> <br />City Attorney Anderson responded that, presumably when all litiga- <br />tion had been concluded; however, suggested that the City's Consult- <br />ing Attorney Mr. Reuvers be contacted, as he was handling this matter <br />on behalf of the City Council. <br /> <br />Councilmember Ihlan suggested that an Escrow Fund be established <br />to make it transparent that these funds were being drawn from the Let- <br />ter of Credit, and were not coming from taxpayer dollars. <br /> <br />Klausing moved, Roe seconded, approval the following payments re- <br />lated to the Twin Lakes Redevelopment Project, including those two <br />items previously identified for Krass Monroe for condemnation activi- <br />ties: <br /> <br />Check # Total <br />ACH Payment *** <br />46650 $8,428.80 <br />46657 17,335.13 <br />Total $25,7(13.93 <br /> <br />Roll Call <br />Ayes: Pust; Ihlan; Roe and Klausing. <br />Nays: None. <br />