Laserfiche WebLink
:L 2 Si:.:; i 5:::: <br /> a m::: C <br /> Meeting Date: 1/13/93 <br /> Agenda Item: C 13 <br /> CITY OF FALCON HEIGHTS <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: Establishment of a community development fund. <br /> SUBMITTED BY: Susan Hoyt, City Administrator <br /> REVIEWED BY: Tom Kelly, City Accountant <br /> EXPLANATION /SUMMARY: <br /> In July, 1992 the city and AMOCO entered into a lease agreement <br /> on property along Snelling Drive that will be turned over to the <br /> city from the State of Minnesota. AMOCO agreed to pay the city <br /> an annual fee of $1,255 for twenty years for the use of a portion <br /> of Snelling Drive for improvements. The lease is subject to a <br /> number of conditions regarding the improvement and maintenance of <br /> the northwest corner of Snelling and Larpenteur. <br /> The city received the first lease payment from AMOCO in November, <br /> 1992. Staff recommends using this annual payment to establish a <br /> community development fund for future community and economic <br /> development activities that the city council may wish to <br /> undertake to maintain and improve the city. If the funds are not <br /> used for this purpose, the balance can be reallocated at any time <br /> in the future. <br /> ACTION REQUESTED: <br /> Approve the establishment of a community development fund with <br /> the lease fee from AMOCO. <br /> r ent onsent Consent Consent Consent Consent Consent Corse <br />