Laserfiche WebLink
• <br />• <br />• <br />AGENDA ITEM 2B <br />STAFF ORIGINATOR: Al Rolek <br />DATE: 2/27/06 <br />TOPIC: Public Hearing: Granting Approval of Issuance <br />of Tax Exempt Revenue Notes for the benefit of <br />YMCA <br />VOTE REQUIRED: 3/5 <br />BACKGROUND: <br />The City has agreed to consider assisting the YMCA with financing its share of <br />debt for the Chain of Lakes YMCA in Lino Lakes. Springsted, Inc., the city's <br />financial consultant, has completed an analysis and recommends providing Tax <br />Exempt Revenue Notes (conduit debt) in order to provide tax exempt financing to <br />the YMCA. This is a financial savings to the YMCA and provides additional <br />protections to the city for its investment in the construction of the facility. <br />Because the public hearing regarding the tax abatement and business subsidy <br />agreement with the YMCA is being continued until March 13, 2006, staff is <br />recommending that this public hearing also be continued to that date. <br />OPTIONS: <br />1. Open the public hearing and continue the hearing to March 13, 2006 <br />2. Close the public hearing and take action on issuance of tax exempt revenue <br />notes <br />3. RECOMMENDATION: <br />Option 1 <br />