03-23-2015 Council Packet - Laserfiche WebLink

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CITY COUNCIL WORK SESSION March 2, 2015 DRAFT 1 2. Fire Station Financing — Mikeala Huot, Springsted financial consultant, 2 reviewed a PowerPoint presentation regarding financing for the new city fire station. She 3 included information on: 4 - the project to be funded; 5 - types of funding proposed (lease revenue and abatement bonds); 6 - the amount of financing required; 7 - how abatement bonding is structured and costs eligible for abatement bonds; 8 - constraints of abatement bonding; 9 - area where taxes will be abated (ultimately costs are spread throughout the city); 10 - the schedule for issuance of bonds; 11 - other projects that have been funded by abatement bonds. 12 13 The council will conduct a public hearing on the bonds at the March 23, 2015 meeting. 14 15 2a. Lino Lakes Ambassador Program- Ray Culp, representing the Ambassador 16 Program, provided information on the city float. The float is used by the Ambassadors to 17 represent the city in parades and functions around the state. It is in need of updating and 18 repair. 19 20 Megan Culp, Co -Coordinator of the Ambassador Program and former ambassador. The 21 program was so helpful in her growth as an individual that she is still participating and 22 contributing to keep it going. Ambassadors are selected based on criteria that means they 23 will represent the city well. 24 25 Mayor Reinert noted that he and Council Member Roeser attended a function of the 26 Program recently and heard about the condition of the float. The Program is long 27 recognized for the good work and the benefit it provides to the participants who are city 28 residents. 29 30 Using a PowerPoint tool, Mr. Culp reviewed: 31 - Ambassador activities; 32 - Positive attitude of the participants; 33 - Photos of the current float; 34 - Problems occurring with the current float; 35 - A proposal to repair the float, noting that they've gotten some quotes on the supplies; 36 - The need for a cover to store and transport the float (possibly $3,300); 37 - Breakdown of expenses in the range of $3,000, not including the cover (including just 38 materials as labor would be done by volunteers). 39 40 The mayor noted his support of the city providing funds for the project. Council Member 41 Roeser indicated that the volunteer element is great and he thinks the city should provide 42 funding for the materials. It was suggested that inside storage should be explored as well 43 as providing for regular maintenance going forward. Also the possibility of funding 44 through the tourism organization could be explored. Council Member Rafferty asked 45 that the float renovation include more city identification such as the city logo. 2