Agenda Packets - 1999/12/13 - Laserfiche WebLink

Home Browse Search

Mounds View City Council November 22, 1999 Regular Meeting Page 11 as this was the direction provided them. He pointed out however, they thoroughly examined all of the factors before coming to their decision. Ayes—4 Nays— 1 (Stigney) Motion carried. F. Follow-up to Y2000 Budget Public Meeting. City Administrator Whiting stated this item was placed on the agenda to provide the Council the opportunity to follow-up on any of the issues discussed at the Y2000 Budget public hearing, if they so desired. Mayor Coughlin asked the Council if anyone would care to further discuss any issues pertaining to the Y2000 Budget. The Council had no further questions or comments. G. Review of Golf Course Interfund Loan. City Administrator Whiting stated this item pertains to the Interfund loan being considered to address the cash flow shortages the golf course will face in the next several years. He stated staff would suggest the Council discuss this item at the next Work Session, and make their decision at the December 13 Council Meeting. He explained there are some options available in regard to funding the proposed loan, and staff and the City's TIF attorneys are still in the process of determining the ability of the City to utilize the interest on TIF funds, earned prior to June of 1997. City Administrator Whiting indicated other possible funding alternatives include the General Fund or other City's funds, however, there should be adequate discussion of all options, prior to Council action. He stated if the Council so desires, staff will schedule the discussion of this matter for the December 6 Work Session, with formal consideration scheduled at the December 13 City Council Meeting. Council Member Stigney inquired if this item should be addressed by the EDA, as it relates to the use of TIF money. He explained that the Council has not met with the EDA and the EDC regarding the use of TIF in the City, and he believes this is a prerequisite to taking any action on this matter. City Administrator Whiting advised that a meeting had been scheduled earlier in the month, however, adequate attendance was unavailable. He indicted staff could attempt to schedule another meeting, if the Council so desired. Mayor Coughlin inquired if this transfer would require to be addressed this year, in that the first payment is due on January 1, 2000. Finance Director Kessel advised that the matter should be addressed before the 1999 books are closed, however, that will not occur until March of 2000, therefore, some time is available. He stated ideally, the sooner the matter is resolved the better. He indicated that the source of the loan, and whether it is the decision of the City Council or the EDA, is subject to discussion. He