Agenda Packets - 2002/06/10 - Laserfiche WebLink

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Mounds View City Council May 28, 2002 Regular Meeting Page 7 Finance Director Hansen indicated it was for the Community Center but said he would need to ask Public Works Director Lee to provide further information. Ayes – 4 Nays – 0 Motion carried. MOTION/SECOND: Quick/Sonterre. To Approve Consent Agenda Item 6C as Presented. Council Member Marty expressed concern with Staff’s recommendation to use park dedication funds to extend the trail when that fund is earmarked to improve the City’s parks and will not see much more influx. Community Development Director Ericson agreed that the City should use caution when using its park dedication fees but said Staff felt in light of the changes to TIF it may be better to take the funds from the park dedication fund rather than the EDA fund. He also noted that the Mermaid had made a contribution of $92,000 to the park dedication fund. Council Member Marty asked the balance of the park dedication fund. Director Ericson indicated there is at least the $92,000 paid by the Mermaid. Mayor Sonterre indicated the City began an investment account for those funds and he believes the fund is in excess of $150,000 at this time. Director Ericson indicated this is not something he would ordinarily like to bring to Council but felt it was prudent to provide an alternative that may put the City in a better position. Council Member Marty asked if any grants are available for the trailway since it is a public safety issue. Director Ericson indicated that Staff had applied for a grant to extend the trailway and recently received notice that the City did not receive any funds. He then said Staff would be reapplying. Council Member Stigney said the parks fund has a specific purpose and this request falls under the guidelines of TIF and should be paid for with TIF funds as previously approved. He also said the City needs to be aware of its spending on other items from the TIF fund in light of the changes and projected deficit. Director Ericson indicated the City would have a trail that stops in the middle of the block if the City waits to extend the trail. He then explained that the City can extend the trail at significant savings and said he would expect it would cost at least 50% more if the City waits to extend the trail. He further noted that the City would save money because the equipment is already there and it is a matter of going farther with the trail rather than completely starting a new project.