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Commercial development in Lino Lakes has been the focus of a city- initiated development <br />called the "Village" on I -35W and Lake Drive. This innovative 75 acre mixed -use <br />development will include professional buildings, civic facilities, commercial development and <br />a mix of housing types. The goal of the City is to base this development on many principles of <br />the Metropolitan Council's "livable communities" concept. <br />The first phase of the "Village" has begun with the completion of the Fairview Clinic. In 1998, <br />ground will be broken for a new community bank. The City will also be breaking ground on a <br />new city hall, police station, and a joint lease agreement for the construction of a Centennial <br />School District Early Childhood Center. <br />The second phase of the "Village" is planned to include a YMCA, professional building and <br />neighborhood retail plaza. <br />Extending municipal utilities is a top priority, as the State of Minnesota is requiring stricter <br />laws for well and septic systems. The City adopted an ordinance in 1996 to require all septic <br />systems to be inspected and pumped every two years to account for all systems within the City. <br />Compliance with this ordinance has been very high, with only a few systems remaining to <br />comply. The Engineering Department is working diligently on planning for future utility <br />extensions to promote the growth of both residential and commercial development. <br />Because of the environmental concerns of the City, an Environmental Coordinator was hired <br />and a complete environmental inventory will be taken with completion in 1999. <br />FINANCIAL INFORMATION <br />The City's policy is to invest all available monies at competitive rates in accordance with <br />Minnesota law. Investments are made by minimizing credit and market risks while <br />maintaining a competitive yield. Funds are invested in certificates of deposit, commercial <br />paper and U.S. government agencies. Cash is pooled in one account to provide maximum <br />return. <br />General Fund <br />The General Fund accounts for all revenues and expenditures necessary to provide basic <br />governmental operations of the City. <br />10 <br />