Agenda Packets - 1994/02/14 - Laserfiche WebLink

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FINANCE • Every February the City is required per terms of a Revenue Note issued to Sysco to calculate whether enough tax increments were received, after deducting the current year debt service payment and the City's administrative fee of $16,925, to make a payment on the Note. This year the City will be making a payment to Sysco of $ 137,478.33. • The Department is negotiating with a vendor for the purchase of a check signer/protector. • The-Department has sent out requests for quotations for a computer for Mary Tatarek. • Work continues on year end financial and preparing work sheets and schedules in anticipation of the arrival of the auditors. • Construction activity is all around the Finance Department. Workers are installing a sink, counter tops, and cabinets in the hallway to Mary and Kitty's office. The workers make a lot of noise, but it is worth it to have the new sink, counter tops, and cabinets installed. ; COMMUNITY DEVELOPMENT MAJOR SUBDIVISION DISCUSSIONS Staff met with Ken Sjodin this past week to discuss the possibility of a Major Subdivision adjacent to Spring Lake Road. Although discussions are in the preliminary stages, the Council may be interested to know that the proposed subdivision is located south of Ardan Avenue in the area that has long been considered for the potential extension of Knollwood Drive. The concept plan that was provided by Mr. Sjodin shows 10 single family lots along with a new cul-de-sac street accessing Spring Lake Road. Following the meeting with Staff, Mr. Sjodin is gathering information on the costs associated with the project. Staff will keep the Council abreast of the developments. GREENFIELD PONDS Catherine Harstad contacted Staff this week to inquire as to the possibility of exchanging a letter of credit for the cash deposit the City is currently