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�� � � Council Memo Item Description: Date: 03/27/06 Item: 12. OVAL - Bonding Bill March 20, 2006 Update re OVAL Bonding Bill; Consider Alternatives BACKGROUND The City Council unanimously supported efforts to obtain approximately a million dollars in state bonding bill dollars to refurbish the Guidant John Rose Minnesota OVAL. lil. UPDATE The City of Rosevillebonding request was nrf included in the Senate Capital Investment Committee recommendations. Yet, state Legislators and staff thought the City's greatest chance for success would have been in the Senate. On March 21 and 22, the House Capital Investment Committee heard recommendations from various finance committees. The John Rose Minnesota OVAL was not recommended for funding. The bonding request must be in at least one bill from the House or Senate for it to be con- sidered in the final Capital Investment bonding bill that will be submitted to the Governor for signature. Right now, it looks like state funding for the OVAL will be in neither bill. II. ALTERNATIVES There are always alternatives. l. Prepare for the next regular state bonding bill in the 20081egislative session. a. Pro: According to state legislative tradition, it often takes three or more tries before your bonding project receives state approval. State ought to pay its fair share for this facility that serves many Minnesotans who don't live in Roseville and that has a positive statewide and regional impact. b. Con: That's a long way off. Uncertainty whether the OVAL would receive more favorable treatment in the future. In the meantime, the facility contin- ues to age. 2. Seek special state approval to conduct a local sales tax referendum. a. Pro: Due to Roseville's robust retail sector, even a very small city sales tax that sunsets very soon would raise significant revenue. (See attached data.)