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� <br />;� <br />� <br />� <br />� <br />.� <br />� <br />�� <br />1 [� <br />1] <br />1� <br />�� <br />�� <br />..I � <br />�� <br />1'{ <br />�� <br />Regular City Council Meeting <br />DRAFT Monday, March 12,2007 <br />Page 7 <br />c. Reimbursable Twin Lakes-related Items <br />City Manager IVlalinen and Finance Director Miller reviewed those <br />items identified as Twin Lakes-relatedexpenses. <br />Councilmember Ihlan questioned whether the items were reimburs- <br />able from the developer's Letter of Credit. <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 />Councilmember Ihlan questioned when that would be. <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 />1� <br />�o Councilmember Ihlan suggested that an Escrow Fund be established <br />� l 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 />�� <br />�� <br />�� <br />�� <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 />Check # � Total <br />AC�I Payment � � � � <br />I 46650 $8z428,80 <br />I 45657 17,���.�� <br />I Total j - ������.� <br />�9 <br />:�� Roll Call <br />� i Ayes: Pust; Ihlan; Roe and Klausing. <br />;�2 Nays: None. <br />�3 <br />�� <br />