03-26-2003 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL MARCH 26, 2003 RE501 UTION NO. 2003-3-63 -APPROVING TILE VARIANCE ALI OWING A .S'ETBACK ENCROACHMENT INTO THE SHORELINE SETBACK REQUIREMENT TOR A PATH AT LAKE GERVAIS COUNTY PARK A.S" REQUEb'TED BY RAMSEY COUNTY PARKS & RECREATION DEPARTMF,NT GIVEN THAT A IIARDSHII' EaISTS BECAUSE OF THE TOPOGRAPHY OF THE AREA The foregoing resolution was duly seconded by Montour. Ayes (5) Blesener, Montour, Fahey, LaValle, Anderson. Nays (0). Resolution declared adopted. CALL FOR Mark Ruff, Ehlers & Associates, appeared before the Council and BOND SALE reviewed in detail the pre-sale report for approximately $3,440,000 Taxable General Obligation Tax Increment Refunding Bonds. The sale would refinance at a lower interest rate Che City's $3,000,000 Taxable G.O. Tax Increment Bonds, Series 200'1 A and two pay-as-you-go notes la~own as 1-lowe and Goodyear totaling approximately $350,000. The projects are supported by tax increments from District 3-2. Present value savings as a result of refunding are estimated at a minimum of $400,000. The City Administrator explained that the refunding will lower the interest rate that is being charged to the Tax Increment District, and will result in a the District paying an interest rate that is reflective of current markets. Mr. Blesener introduced the following resolution and moved its adoption: RESOI UTION NO. 2003-3-64 -PROVIDING FOR THE SALE OF $3, 4AQ 000 TAXA737.E GENERAL OBLIC,ATION TAX INCREMENT REFUNDING BONDS SERIES" 2003A The foregoing resolution was duly seconded by LaValle. Ayes (5) Blesener, LaValle, Fahey, Anderson, Montour. Nays (0). Resolution declared adopted. PUD PERMIT- Brad McNaught, Taste of Scandinavia, appeared before the Council to TASTE OF clarify the PUD Permit that was granted last November. McNaught SCANDINAV:[A reported that since the coffee shop at the Market Place Shopping Center has closed, and since they have gotten requests from people in the area, Taste of Scandinavia would like to include a bakery cafe at this location. In addition to their bakery function, they would include a cafe area that would seat up to 50. During the summer months, they would have some outdoor seating as well.