Agenda Packets - 1999/12/13 - Laserfiche WebLink

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Mounds View City Council November 22, 1999 Regular Meeting Page 12 explained that the golf course is a City operation, therefore, he would assume the City Council would direct the matter to the EDA, if that entity is who will make the loan. Mayor Coughlin inquired if this would be if based upon whether or not they would utilize TIF funding. Finance Director Kessel stated this was correct. Council Member Stigney stated he did not oppose discussing the matter and reviewing this an other options, however, prior to acting upon the matter, a joint meeting should be held between the City Council, the EDA and the EDC. He indicated he would not feel comfortable acting upon the matter until this meeting transpires. Mayor Coughlin stated he would assume, based upon his personal scheduling considerations, that such a meeting could not be arranged until some time in January. City Administrator Whiting suggested the Council could proceed with the recommended schedule, however, postpone the actual implementation of the transfer to a point to be determined in the future. He advised that the loan will accrue interest if it is made prior to the date it is required, and it would be preferable to leave the money in its original fund until such time as it is necessary to transfer it. Council Member Quick inquired if staff was suggesting the Council move approval that date, with the transfer to occur at a later date. City Administrator Whiting stated this was correct. Mayor Coughlin inquired if this would be contingent upon the joint meeting with the EDA and EDC. City Administrator Whiting stated this was correct. He pointed out that the Council had indicated they would like to have the TIF policy resolved by March, and this would probably be in concurrence with the suggested schedule. MOTION/.SECOND: Marty/ . To Approve Transferring the Funds After the City Council, the EDA, and the EDC Meet Jointly, to Determine the Source of the Funds. Finance Director Kessel advised that there would be some discussion of the golf course at the December 6 Work Session, and suggested the Council postpone any action until after that meeting. He explained this discussion would provide clarification regarding the exact amount of the loan, and hopefully a better understanding of the funding options for the loan, as well. Council Member Marty withdrew the motion. Mayor Coughlin stated it was the consensus of the Council to defer this item to further discussion at the December 6, 1999 City Council Work Session. H. Consideration of Resolution 5391, Approving TH 10 Jurisdictional Transfer.