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-2- <br />4. Parking space is a major consideration. <br />5. Rental space available did not meet the needs of LMC. <br />Affiliated organizations presently housed with the League would continue. They are: <br />Association of Metropolitan Municipalities and Ramsey County League of Local Governments. <br />Another potential affiliate expressing an interest in space is Government Training Service. <br />The affiliate organizations pay the actual costs of space and service provided and would <br />continue to do so in the new building. <br />4) Who owns the site? How can we acquire it for only $1.00? What is the site? <br />The City of St. Paul presently owns the site; they are willing to sell the amount of <br />property LMC needs for a building for $1.00. The hillside site is on the corner of <br />Jackson and University and lends itself well to an innovative energy saving building. <br />5) What will be the annual debt service on $1.2 million? Why use Port Authority Bonds <br />versus a city's? <br />Annual debt service would average $130,000 per year for 20 years. Port Authority Bonds <br />were suggested to us because of their tax exempt status and lower interest rate (than <br />commercial). In addition, the St. Paul Port Authority will act as fiscal agent at cost. <br />6) Can we just increase dues for the next ten to twenty years to cover debt? Will <br />cost of building hurt smaller cities more? Will they quit in large numbers? <br />An alternative option of increasing dues to cover debt retirement is included in the <br />Opinion Survey. It is possible to finance the building in this way and an acceptable <br />alternative for some cities. <br />Small cities (under 500) building share will be approximately $325.00 or less, according <br />to population. Some small cities might drop LMC membership but we don't anticipate a <br />large drop -off; response has been favorable to a new building among small cities as well <br />as large cities. <br />7) What will happen if cities drop out of LMC? Can a charter group be set up so that <br />if there is dissolution of LMC each city will get back investments? <br />Provision will be made for cities who drop out of LMC and return at a later time. Those <br />cities will have a building share assessed to them at the time of re- entry. If LMC is <br />dissolved each city would receive assets in proportion to their annual dues fee, as <br />stipulated in the LMC Constitution. <br />8) What is the result of action at Annual Meeting? <br />A presentation by the Building Committee was given at the meeting and the following <br />resolution was unanimously adopted. <br />awaowmamakammt <br />ctRehicalfl <br />