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Regular City Council Meeting <br /> Monday, December 06, 2010 <br /> Page 9 <br /> 10. Presentations <br /> 11. Public Hearings <br /> 12. Business Items (Action Items) <br /> a. Consider the Disposition of Excess Proceeds on the Centre Pointe Tax In- <br /> crement Financing (TIF) District <br /> Finance Director Chris Miller summarized this discussion as detailed on the Re- <br /> quest for Council Action (RCA) dated December 6, 2010; at the request of Coun- <br /> cilmembers at a previous meeting. <br /> From a procedural standpoint, Mayor Klausing clarified that there was no staff <br /> recommended action, and that this was for discussion purposes only. <br /> Mr. Miller advised that action was at the City Council's discretion if they chose to <br /> designate or repurpose these excess funds, currently in the City's General Fund <br /> reserves for future use. <br /> Councilmember Ihlan provided several suggestions for these one -time funds. <br /> Councilmember Ihlan noted several areas that were chronically underfunded, yet <br /> received lots of public interest: <br /> Construction of sidewalks and pathways, and other traffic safety issues <br /> Councilmember Ihlan opined that pathway and pathway maintenance funds had <br /> been insufficiently funded for some time; and suggested that some of the excess <br /> money be set aside to replenish those funds. <br /> Tree Replacement/Maintenance <br /> Councilmember Ihlan opined that another area for using the one -time funds would <br /> be for tree replacement at public parks, and/or tree maintenance. Councilmember <br /> Ihlan suggested that it would be appropriate to earmark some of this cash reserve <br /> money for future EAB infestations, rather than putting undo pressure on the tax <br /> levy. <br /> Councilmember Roe requested clarification from Mr. Miller on the City's tempo- <br /> rary loan process from the General Fund reserves, while awaiting the semi annual <br /> tax payments from Ramsey County. <br /> Mr. Miller advised that the City's investments were pooled and the internal loan <br /> didn't have to be officially documented since it was only temporary and was not <br /> taking place at year -end. If not having sufficient reserve funds available, Mr. <br /> Miller anticipated temporarily borrowing those funds from Capital Investment <br /> Plan (CIP) or Enterprise Funds on a temporary basis. <br />