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MINUTES <br />CITY COUNCIL <br />SEPTEMBER 28, 2011 <br />ADOPT <br />HOUSING <br />PROGRAM & <br />GRANT <br />ISSUANCE <br />OF REVENUE <br />BONDS — <br />PRESBYTERIAN <br />HOMES <br />RESOLUTION NO. 2011 -9- 191 — APPROVING A CONDITIONAL <br />USE PERMIT TO ALLOW OUTDOOR STORAGE OF MOTOR <br />VEHICLES AT 5 SOUTH OWASSO BLVD. BASED ON THE <br />AMENDED SITE PLAN SUBMITTED BY RAMSEY COUNTY <br />SUBJECT TO COMPLIANCE WITH THE RECOMMENDATIONS <br />OF THE CITY PLANNER AND PLANNING COMMISSION <br />The foregoing resolution was duly seconded by McGraw. <br />Ayes (5). <br />Nays (0). Resolution declared adopted. <br />Montour introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2011 -9 -192 — APPROVING A CONDITIONAL <br />USE PERMIT TO ALLOWA SPECIAL PURPOSE FENCE TEN (10) <br />FEET IN HEIGHT GIVEN THE NEED FOR SECURITY AT THE <br />RAMSEYCOUNTYIMPOUND LOT TO BE OPERATED BY THE <br />SHERIFF'S DEPARTMENT AT 5 SOUTH OWASSO BLVD. AND <br />GIVEN THE RESULTING IMPROVED AESTHETICS AS THE 10 <br />FOOT HIGH FENCE WILL ELIMINATE THE NEED FOR BARBED <br />WIRE <br />The foregoing resolution was duly seconded by Boss. <br />Ayes (5). <br />Nays (0). Resolution declared adopted. <br />Blesener opened the public hearing with respect to a program for a multi- <br />family housing development and the issuance of revenue bonds to finance <br />the multifamily housing development in accordance with the provisions of <br />Minnesota Statutes, Chapter 462C, as amended, to finance a loan to <br />Presbyterian Homes of Arden I -Tills Inc. <br />The City Administrator reported that the City has been requested to <br />provide financing assistance for a $32 million expansion of a Presbyterian <br />Homes project in the City of Arden Hills. This assistance will allow <br />Presbyterian Homes to obtain tax - exempt financing. Given the annual <br />bank limitation of $10 million of financing, the City of Arden Hills is <br />authorizing $10 million for 2011 and $10 million for 2012. Little Canada <br />has been asked to authorize $10 million for $2011 and $2 million for <br />2012. The Administrator noted that this tax - exempt financing is similar to <br />industrial revenue bonds. The financing is not a direct obligation of the <br />City and imposes no financial liability for the City. It is a means of <br />providing Presbyterian Homes with tax exempt financing for their project. <br />5 <br />