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CITY COUNCIL WORK SESSION JULY 7,1999 <br />opportune time for the City to refinance City bonds. The potentially savings would be <br />approximately $200,000 after paying costs of refinancing_ <br />Staff was directed to bring this matter to the July 12th Council meeting. <br />Mr. Shannon also distributed a draft of the Fiscal Impact Analysis Report, which <br />incorporates the probable YMCA project financing. These figures are general indicators. <br />An important reason for the analysis is to provide a general indication of tax dollars that <br />would be collected by the City based on the market value of residential property. <br />Mr. Shannon explained that if the City does not incur any more debt or add any additional <br />services, commercial development would help reduce the tax rate. <br />Council requested time to review the Financial Impact Analysis report. <br />CIVIC COMPLEX PLAQUES, MARY ALICE DIVINE <br />Mr. J.P. Houchins has submitted an inscription for the plaque t. e s a the Civic <br />Complex door and the plaque to be attached to the cherry c door. The <br />sample inscriptions included the names of the Mayor, th C •, it Members, the <br />architect and the construction management firm. <br />Council determined staff members Mary Alic <br />included on the plaque inscription and <br />Parker Associates and Adolfson & <br />d Brian Wessel should be <br />e necessary to include Leonard <br />Council discussed whetheunci embers and past Council Members or no <br />Council Members shou '"s e = n the plaque. <br />Council directed <br />past Council Memb <br />her ideas to Council <br />develop some non-traditional ideas that would include the <br />the current Council Members names. Ms. Divine will bring <br />the next work session. <br />Council determined a plaque would not be placed on the cherry council chamber doors. <br />The open house for the Civic Complex has been tentatively set for September 11 or 18, <br />1999. <br />Mayor Sullivan asked staff and Council to check their calendars. She also asked that all <br />buildings within the Civic Complex be equally included in scheduled activities. <br />77TH STREET RIGHT-OF-WAY DISCUSSION, JOHN POWELL <br />2 <br />