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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 />CITY OF LITTLE CANADA <br />RAMSEY COUNTY, MINNESOTA <br />December 22, 1989 <br />TO: Mayor and City Council <br />FROM: Joel Hanson, City Administrator <br />RE: City Hall Financing <br />MAYOR <br />Michael Fahey <br />COVNCIL <br />Beverly Scalze <br />Bill Blesoner <br />Rick Collova <br />Jim LaValle <br />Attached are some page excerpts from a report prepared by Mr. Robert <br />Voto on May 24, 1989 relating to the availability of funds on hand <br />for possible use in financing an expansion /remodeling of City Hall. <br />In my conversations with him, he has indicated to me that this <br />information is still applicable today. <br />There are two conditions to consider when reviewing this report. <br />They are: <br />1. Other City commitments which may require the use of this money. <br />2. Reduction in cash -on -hand will affect investment earnings. Care <br />should be exercised to ensure the 1990 budget is not adversely <br />impacted prior to knowing the exact consequences. <br />Based on the very preliminary figures provided by the architect to <br />date, the numbers are shaping up as follows: <br />Construction 3,200 @ 35 $112,000 <br />4,000 @ 75 $300,00 $412,000 <br />Architect est. 15% 61,800 <br />Contingency 7 ? ?? <br />Total <br />Page 86 <br />