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COUNCIL WORK SESSION MARCH 19, 1997 <br />PRELIMINARY FINANCING FOR CONSTRUCTION OF POLICE <br />DEPARTMENT BUILDING, RANDY SCHUMACHER/MARY VASKE <br />Staff is working with Springsted, Inc. to prepare a finance proposal for the new Police <br />Department building. Staff recommended that the Council hold a special meeting to <br />discuss the financing proposal with Springsted. <br />Springsted, Inc. is recommending that the City finance this building with a lease/purchase <br />plan as was done with the Centennial Fire District building. Staff noted that the economy <br />is slowing and interest rates are falling. This would be a good time to borrow money. <br />Staff discussed the possibility of constructing a new city hall along with the new Police <br />Department building. Estimated costs would be $4,000,000 for both buildings. These <br />buildings could be financed with a combination of existing cash reserves and <br />lease/revenue bonds. Staff was directed to prepare a funding proposal that includes the <br />impact on taxes and the tax levy. <br />Council Member Bergeson explained that Council cannot consider t '_ • • ::'sal without <br />considering the impact it would have on the park referendum. ci ou „ not lose <br />sight of the park issues. He asked that the funding propos 1 ity <br />obligations. <br />Council will decide whether to fund the c <br />building or both of the Police Depart <br />the funding proposal. <br />ju e Police Department <br />building after they have reviewed <br />This matter will be on , g'1 work session agenda. <br />1997/1998 CO EVELOPMENT BLOCK GRANT (CDBG) RE- <br />ALLOCATIONSCHUMACHER/PAULA SCHLOER <br />Staff explained that only 15% of the entire CDBG funding designed for municipalities <br />within Anoka County can be used to fund public services. Now that all municipalities <br />have submitted their allocation proposals to the County for their portion of the CDBG <br />funds, it has been determined that allocations to public services far exceeds the 15% <br />limit. Therefore, municipalities have been requested to re -allocate their portion of the <br />CDBG funds. <br />Staff explained that normally CDBG funds support the entire Senior Center budget for <br />this City. Staff is now recommending that the budget be amended to indicate that the <br />Senior Center budget is supported by the General Fund and the trail system is supported <br />with the CDBG funds. This change will not affect the bottom line of the budget. <br />This matter is on the March 24, 1997 Council agenda. <br />PAGE 2 <br />