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LAKE ELMO CITY COUNCIL MEETING, OCTOBER 20, 1981 1. Mayor Eder convened the meeting at 5:30 p.m. PRESENT: Fraser, Mottaz, Morgan and Novak, City Administrator Whittaker 2. AGENDA: M/S/P Morgan/Mottaz, to adopt the agenda, as amended. 3. MINUTES: M/S/P Morgan/Fraser to adopted the minutes of Oct. 6, 1981, as amended. 016.D. Pebble Park Ice A3!,esa Rink 4. CLAIMS: M/S/P Mottaz/Morgan to approve claims 81822 thru 81859. Oh -the suggestion of Councillor Mottaz, the Administrator will write Judge Armstrong urging him and the other judges to enforce the maximum fines on City prosecutions, thus enabling the City the recover some of its prosecution costs, 5. OFFICE PLANS: Mottaz reviewed his letter to the Mayor and Council members proposing the City lease 2400 sq. ft. of office space in -the Brookfield II Office Building. He stated this proposal addresses all the opposition to previous proposals by being more economical, keeping the City office in the vicinity of the Old Village, and eliminating the need to buy more land. He also outlined the investment potential table. MIS/ Mottaz/Eder that the City lease approximately 2400 sq. ft. of space on the first floor of the Brookfield II building for five years at $8.50 per sq. ft, per year starting on February 1, 1982, that, $25,000 be appropriated from the present buildng reserve for interior work. Also, that the present City Office building be sold and all monies from that sale be combined with all other monies listed on the attached sheet as building reserves. In addition, the approximate $190,000 remaining after the transaction is completed be assigned to a permanent office space fund and that from the interest earned from this fund lease payments will be taken and that all interest money remaining after the lease payments are made become part of the office space fund and be likewise invested, Discussion: --Eder - Has read all the data, including remodeling of tike present building, reviewed the investment table - thinks it is sound reasoning and supports the motion, --Morgan - The leasing of a., building for 5 years gets you no equity in those 5 years. The appreciation on a building of our own would keep up with inflation, If invest the money, will not keep up with inflation, Plan A not too bad if eliminate the site work. --Mottaz' Cost of the building going in has to be considered. Also with extensive remodeling and/or adding on ponding requirements may be necessary - an additional cost, --Morgan - Lease is for five years - no .further ahead at the end of that time. If build our own building should be adequate for 20 years. --Mottaz - Trade-off is not $100,000. If invest present reserve money, this would more than pay the lease of the building and part of the ]ease would include expenses we have now,