Agenda Packets - 2011/05/23 - Laserfiche WebLink

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Mounds View City Council April 25, 2011 Regular Meeting Page 6 the first quarter and would pick up in the second and third quarters. It was reported the three of 1 the four TIF district funds were doing well. 2 3 Finance Director Beer indicated Area D and the water tower rehabilitation were major projects 4 the City would fund in 2011. He noted that the economy was still slow and investments were 5 earning an extremely low rate at this time. The State’s unemployment rate is at 6.6% at this time 6 which indicated the State was struggling and having a hard time recovering from the downturn. 7 8 Finance Director Beer stated the City was waiting to hear from the State on the market value 9 homestead credits and LGA. At this time, the City has been told to not anticipate more than 10 received in 2010. He indicated the City just completed its annual audit and it will be reviewed in 11 detail at a meeting in May. The information was available on the City’s website. 12 13 Council Member Hull questioned the level of the community center fund transfer. Finance 14 Director Beer stated the fund transfer would be replaced with revenues as the year progressed. 15 He reported that the community center had a deficit of only $20,000 in 2010. 16 17 Council Member Mueller asked if the City would be increasing the number of antennas on the 18 City’s water tower. Finance Director Beer stated AT&T was looking to locate at this site along 19 with a wireless provider. 20 21 Council Member Mueller inquired if the water tower had additional space for new vendors. 22 Finance Director Beer indicated the water tower railing would be expanded through the 23 renovations this summer and all MetroComm antennas were going to removed, which would free 24 up space. 25 26 Mayor Flaherty questioned the balance of the park dedication funds. Finance Director Beer 27 explained the City had a cash balance of $915,000 in park dedication funds. 28 29 iii. Administrator’s Report 30 31 City Administrator Ericson reported on an opportunity to add signage to the community center 32 building to help distinguish between city hall and the community center. He reviewed the 33 renderings and quotes with the Council. JDI Signs submitted a low bid for the 24” sign at 34 $1,860. He requested feedback from the Council on this issue noting it would be paid for by 35 funds undesignated, donated from Bethlehem Baptist church. 36 37 Council Member Gunn agreed with the recommendation of Staff and suggested Council proceed 38 with the sign. 39 40 Council Member Mueller also agreed, stating this would assist with visually labeling the building 41 in the community. 42 43