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LAKE ELMO CITY COUNCIL MINUTES <br />NOVEMBER 21, 2017 <br />ITEM 14: 2018 LMCIT Renewal <br />Assistant Administrator Foster reviewed options for a change in the deductible for the City's <br />property and liability insurance coverage and waiver of the statutory municipal tort limits. <br />Councilmember Nelson, seconded by Mayor Pearson, moved TO APPROVE THE <br />DEDUCTIBLE INCREASE TO $1,000 FOR THE CITY'S PROPERTYAND LIABLITY <br />INSURANCE AND AUTHORIZE THE ELECTION TO NOT WAIVE THE STATUTORY <br />TORT LIMITS. Motion passed 4 — 0. <br />ITEM 15: Wyndham Village Subdivision Sketch Plan Review & Comprehensive Plan <br />Amendment <br />Planning Director Becker reviewed the proposal for a residential subdivision and presented <br />recommended conditions of approval and Planning Commission recommendations. Applicant <br />Joe Bush presented a revised sketch plan and discussed landscaping plans. <br />Mayor Pearson, seconded by Councilmember Nelson, moved TO RECOMMEND APPROVAL <br />OF THE PROPOSED COMPREHENSIVE PLANAMENDMENT TO RE -GUIDE PID <br />13.029.21.43.0001 FROMRURAL SINGLE FAMILY TO VILLAGE URBANLOW <br />DENSITY, BASED ON THE RECOMMENDED FINDINGS AND CONDITIONS OF <br />APPROVAL. <br />Applicant Joe Bush requested that the Council table this item to allow additional time to work <br />with staff and agreed to grant additional time under the 60 day rule. <br />Councilmember Fliflet, seconded by Councilmember Lundgren, moved TO TABLE THIS <br />ITEM TO THE SECOND MEETING INJANUARYAT THE APPLICANT'S REQUEST. <br />Motion passed 4 — 0. <br />ITEM 16: Debt Management Policy <br />Finance Director Swanson presented the proposed Debt Management Policy, noting additions <br />and changes from the previous policy. <br />Councilmember Fliflet, seconded by Councilmember Lundgren, moved TO APPROVE THE <br />ATTACHED CITY OF LAKE ELMO DEBT MANAGEMENT POLICY REVISED <br />NOVEMBER 21, 2017 WITH CHANGE REPLACING "ONLY" WITH "GENERALLY" <br />IN SECTION D.a. AND ADDING "FINANCE DIRECTOR OR APPOINTED DESIGNEE" <br />WHERE APPROPRIATE. Motion passed 4-0. <br />ITEM 17: Fund Balance Policy <br />Finance Director Swanson presented an overview of the proposed Fund Balance Policy. Brief <br />discussion was held; Councilmember Fliflet stated she did not agree with the enterprise fund <br />restrictions. <br />Page 2 of 3 <br />