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.0. <br />�t <br />�� .. 1; <br />LAKE ELMO SPECIAL COUNCIL MEETING!L, <br />JANUARY 24, 1989 <br />Present: Mayor Dunn, Councilmembers Hunt, Williams, Graves <br />and Moe, City Engineer Bohrer and City Administrator Morrison. <br />The Council met in special session for the purpose of <br />interviewing financial and planning consultants, and to <br />receive the recommendations of Mike Black, on the proposed <br />Residential Estates Zoning District. <br />FINANCIAL CONSULTANTS: <br />LaMonte Eastvold, of Juran & Moody, Inc., appeared before the <br />Council to discuss the services his firm offered. He discussed: <br />team approach to assisting communities and firm members who <br />would participate at Lake Elmo; the dual role of Juran & Moody <br />as financial consultants and underwriters; purpose of negotiated <br />vs. public sales; Juran & Moody charge for public sales, but <br />do not have direct charge for negotiated sales; they recommend <br />issues over $500,000 be handled publicly; for economic development <br />assistance, an hourly fee is charged; Juran & Moody has <br />considerable expertise with T.I.F.'s, and .dzuring his tenure as <br />Administrator of Waconia, more T.I.F. districts were issued <br />than in any other city; that a T.I.F. should be issued in <br />conjunction with a development agreement to guarantee the <br />increments payable on the project. <br />Dave MacGillivray, Jerry Shannon and Brenda Krueger, appeared <br />before the Council to discuss services offered by Springsted, <br />Inc. They discussed: possible conflict presented when an <br />organization represents City and acts as an underwriter, and <br />that Springsted, Inc. represents the City only; team approach <br />to alternative solution of problems; Springsted Inc. largest <br />financial advisor in Minnesota and advised Springsted serves <br />Oakdale and Woodbury; they perform specialized tasks, specific <br />studies and long range planning for cities, coordinating the <br />city's CIP with financial plans working with Council toward <br />community's goals and philosophies; that there is not a charge <br />outside of bond issues and special studies; that Springsted, Inc. <br />has worked in the past with Lake Elmo City Attorney, City <br />Engineer and Auditor. <br />The meeting was opened up to general discussion and questions <br />from the Council. <br />