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Office of: <br />JOEL R. HANSON, Administrator <br />515 Little Canada Road <br />Little Canada, MN 55117 <br />612 -484 -2177 <br />FAX: 612- 484-4538 <br />December 22, 1989 <br />CITY OF LITTLE CANADA <br />RAMSEY COUNTY, MINNESOTA <br />TO: Mayor and City Council <br />FROM: Joel Hanson, City Administrator <br />RE: Country Drive Financing <br />MAYOR <br />Michael Fahey <br />COUNCIL <br />Beverly Scalzo <br />Bill Blesener <br />Rick Collova <br />Jim LaValle <br />Pursuant to your request, I have been attempting to work with Bob <br />Voto to determine the availability of funds for the internal <br />financing of the Country Drive project. Based on my previous <br />statement at the Council meeting of December 13, 1989, you were <br />informed that sufficient funds were on hand to finance this project <br />based on our present MSA Fund balance, expected reimbursement, and <br />future allocation of MSA dollars. <br />In a subsequent meeting with Bob Voto, we have not been able to give <br />a detailed assessment of this situation due to the following: <br />*I -35 /Little Canada Road Bridge project has not been closed <br />out by the State of Minnesota. Therefore, that distribution <br />of dollars is unknown at this time. <br />*Due to the possibility of assessments being levied for a <br />portion of the Country Drive costs as well as the potential <br />for tax increment assistance, costs for various portions of <br />the improvement (i.e. curb and gutter, streets, drainage) <br />will need to be known to maximize our MSA reimbursement. A <br />meeting between Don Carley, Bob Voto and myself is being <br />arranged to address this issue. Hopefully, this will occur <br />prior to the Council meeting. <br />Page 84 <br />