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SEP-13-1996 14:53 CITY OF SHOREVIEW P.06/O9 <br /> Throughout the discussions with the MASC and the local youth hockey associations, the <br /> staff from each of the four communities have attempted to limit the ultimate financial <br /> exposure of the City for this project. Of all of the potential scenarios discussed over the • <br /> last several months, the current proposal which includes a$500,000 contribution from <br /> Ramsey County and a$500,000 escrow from the youth hockey associations goes the <br /> furthest in protecting the cities, but does nota guarantee that the City will not have to use <br /> tax dollars to support the operation in the future. Attached is a letter from the Mounds <br /> View Youth Hockey Association to the City Council supporting the project. <br /> The attached resolution would authorize the City's participation in the financing, <br /> construction, and operation of a four sheet ice facility at the National Sports Center. It <br /> would allow the MASC to proceed with the application for$500,000 in State grant <br /> funding for the project and to continue negotiation of the Master Agreement. If the <br /> . Council approves this resolution, it is recommended that it be contingent on the following <br /> actions: <br /> I. Approval of the Master Agreement between the MASC and all of the participating <br /> communities; <br /> 2. Approval of a supplemental Agreement between the cities of Shoreview, Arden Hills, <br /> Mounds View, and New Brighton and the Mounds View and Irondale Youth Hockey <br /> Associations; <br /> 3. Approval of a supplemental Agreement between the cities of Shoreview, Arden'Hills, • <br /> Mounds View, and New Brighton and Ramsey County which includes the County's <br /> $500,000 capital contribution for the project; <br /> 4. Review of the final agreements by the City's Finance Director and financial advisor <br /> to determine potential impact to the City's bond rating; <br /> 5. Participation in the project by the cities of Arden Hills,Mounds View, and New <br /> Brighton; and <br /> 6. Financial commitment from communities for all four sheets of ice at the National <br /> Sports Center. <br /> • <br />