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COUNCIL MINUTES MARCH 13, 2006 DRAFT Formatted _Centered,; 91 92 There was no one else present to speak during the public hearing. 03 4 Councilmember Reinert moved to close the public hearing at 6:47 p.m. Councilmember Stoltz 95 seconded the motion. Motion carried unanimously. 96 97 Consideration of Resolution No. 06 -34, Approving an Amended and Restated Development 98 Agreement Between the City of Lino Lakes and the YMCA of Greater Saint Paul, Mary Alice 99 Divine — Councilmember Stoltz moved to approve Resolution No. 06 -34, as presented. 100 Councilmember Reinert seconded the motion. Motion carried unanimously. 101 102 Consideration of Resolution No. 06 -40, Approving Property Tax Abatement Related to YMCA 103 Facility, Mary Alice Divine — Councilmember Stoltz moved to approve Resolution No. 06 -40, as 104 presented. Councilmember Reinert seconded the motion. Motion carried unanimously. 105 106 Consideration of Resolution No. 06 -49, Approving an Amended and Restated Business Subsidy 107 Agreement Between the City of Lino Lakes and the YMCA of Greater Saint Paul, Mary Alice 108 Divine — Councilmember Stoltz moved to approve Resolution No. 06 -49, as presented. 109 Councilmember Reinert seconded the motion. Motion carried unanimously. 110 111 Continuation of a Public Hearing Regarding the Issuance of Revenue Notes for the Benefit of 112 YMCA of Greater Saint Paul, Al Rolek — Finance Director Rolek advised the YMCA, in 113 I partnership with the City or the he P r P osed Lino Lakes YMCA, has ma de a r. e Q u est to the City to issue I;peleted: 1 114 tax exempt revenue notes to finance a portion of the project cost. The public hearing was opened at 115 the February 27, 2006 City Council meeting to consider this request. 116 117 Finance Director Rolek stated that following the public hearing, the City Council is to consider 118 I approval of Resolution No. 06 -50, granting approval to the issuance,of the revenue notes, authorizing__ 119 and directing submission of the proposal to the Department of Employment and Economic 020 Development ( "DEED "), authorizing an intent to reimburse costs with revenue note proceeds under 21 IRC section 1.150.2, and calls for the YMCA to reimburse the City for costs incurred in connection 122 with the project and the issuance of the notes. 123 124 No one was present to speak during the public hearing. 125 126 Councilmember Stoltz moved to close the public hearing at 6:58 p.m. Councilmember Reinert 127 seconded the motion. Motion carried unanimously. 128 129 Consideration of Resolution No. 06 -50, Granting Approval of the Issuance of Tax Exempt 130 Revenue Notes for the Benefit of YMCA of Greater Saint Paul — Councilmember Reinert moved 131 to approve Resolution No. 06 -50, as presented. Councilmember Stoltz seconded the motion. Motion 132 carried unanimously. 133 134 ADMINISTRATION DEPARTMENT REPORT, DAN TESCH 135 3 •