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• <br />• <br />• <br />CITY COUNCIL WORK SESSION AUGUST 7, 2006 <br />DRAFT <br />1 CITY OF LINO LAKES <br />2 MINUTES <br />3 <br />4 DATE : August 7, 2006 <br />5 TIME STARTED : 5:39 p.m. <br />6 TIME ENDED : 7:35 p.m. <br />7 MEMBERS PRESENT : Councilmember Carlson (5:40 p.m.) <br />8 O'Donnell, Reinert and Mayor Bergeson <br />9 MEMBERS ABSENT : Stoltz <br />10 <br />11 <br />12 Staff members present: City Administrator, Gordon Heitke; City Engineer, Jim Studenski <br />13 (part); Finance Director, Al Rolek (part); City Planner, Jeff Smyser (part); Community <br />14 Development Director, Mike Grochala (part); and City Clerk, Julie Bartell <br />15 <br />16 <br />17 REGULAR AGENDA ITEMS <br />18 <br />19 Item 6A, Consideration of Resolution No. 06 -53, Conditional Use Permit for Accessory <br />20 Drive Through Facility and Restaurant Outdoor Dining Facilities, Millers Crossroads <br />21 Shopping Center — The Council requested copies of a previously sent email from the City <br />22 Attorney regarding this issue. The Council also requested a specific definition of "Coffee <br />23 Shop" that would be included in the conditions of approval. <br />24 <br />25 The Council suggested the conditions of approval also include a statement indicating the <br />26 coffee shop cannot exceed 1,648 feet. The Council also requested information regarding <br />27 the increase of impervious surface compared to the previously approved site plan. <br />28 <br />29 REFUNDING EDA LEASE REVENUE BONDS 1998A (CIVIC CENTER <br />30 COMPLEX) <br />31 <br />32 Finance Director Rolek referred to the EDA Lease Revenue Bonds 1998A noting the <br />33 bonds were originally issued to fmance the construction of the Civic Center Complex. A <br />34 recent change in statutes allows the City the opportunity to refinance the issue with a <br />35 general obligation issue of the City. Since the new issue will be backed by the full faith <br />36 and credit of the City, the City will save an estimated $208,000 over the term of the issue, <br />37 over twice the savings of refinancing with another lease revenue bond. <br />38 <br />39 Finance Director Rolek advised in order to refinance the issue in this manner, the City <br />40 must include the refinancing in the capital improvement plan (CIP) for 2006 and hold a <br />41 public hearing. A 30 -day reverse referendum period follows the public hearing; <br />42 effectively pushing the sale date out until after this period has elapsed. <br />43 <br />44 The Council directed staff to schedule and hold the required public hearing and amend its <br />45 CIP to include the refinancing of this issue. <br />46 <br />-126- <br />