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Mounds View City Council June 26, 2023 <br />Regular Meeting Page 11 <br /> <br />Council Member Gunn asked if the new homes would be single story. Mr. Schifsky commented <br />the homes would be two-stories. He reported he did not intend to remove trees on the property <br />until the lots were sold. <br /> <br /> Ayes – 4 Nays – 0 Motion carried. <br /> <br />D. Resolution 9772, a Resolution Relating to the Issuance of Conduit Revenue <br />Bonds to Finance the Costs of a Multifamily Rental Housing Facility and <br />Under Minnesota Statutes, Chapter 462C, as Amended; Granting Preliminary <br />Approval Thereto; Calling for a Public Hearing; Establishing Compliance <br />with Certain Reimbursement Regulations Under the Internal Revenue Code <br />of 1986, as Amended; and Taking Certain Other Actions with Respect Thereto <br />(Torre De San Miguel, Westminster Place and Vista Village Projects). <br /> <br />Finance Director Beer requested the Council adopt a Resolution that would approve the issuance <br />of conduit revenue bonds to finance the costs of a multifamily rental housing facility. He explained <br />the developer has requested to use the City’s bonding authority. It was noted this housing project <br />would be constructed in 2024. This project would require $56 million in bonding and staff <br />reiterated that the City would not be responsible for the repayment of these bonds. <br /> <br />Council Member Gunn asked how the City earmarked the funds received from this type of bond <br />issuance. Finance Director Beer reported the City was able to earmark the dollars wherever there <br />was a need. <br /> <br />MOTION/SECOND: Lindstrom/Cermak. To Waive the Reading and Adopt Resolution 9772, a <br />Resolution Relating to the Issuance of Conduit Revenue Bonds to Finance the Costs of a <br />Multifamily Rental Housing Facility and Under Minnesota Statutes, Chapter 462C, as Amended; <br />Granting Preliminary Approval Thereto; Calling for a Public Hearing; Establishing Compliance <br />with Certain Reimbursement Regulations Under the Internal Revenue Code of 1986, as Amended; <br />and Taking Certain Other Actions with Respect Thereto (Torre De San Miguel, Westminster Place <br />and Vista Village Projects). <br /> <br /> Ayes – 4 Nays – 0 Motion carried. <br /> <br />E. Public Hearing: First Reading and Introduction of Ordinance 999, Amending <br />Mounds View City Code Chapter 161 regarding Signs and Billboards (Tabled <br />May 22, 2023). <br /> <br />Community Development Director Sevald requested the Council introduce an Ordinance that <br />would amend City Code Chapter 161 regarding signs and billboards. He explained the proposed <br />sign ordinance amendment would clean up a number of items. He noted the current ordinance <br />allows up to 100 square feet for wall signs. He indicated the Planning Commission supported <br />increasing this to 200 square feet or 40% of the wall area. He stated the Council supported going <br />up to 200 square feet but then recommended the item be tabled. He explained the North Church in <br />Mounds View was stuck in the middle of the tabling process as they have removed their wall sign <br />and would now like to put up a new sign that was between 100 square feet and 200 square feet. He