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Mounds View City Council April 25,2011 <br /> Regular Meeting Page 6 <br /> Ill <br /> 1 the first quarter and would pick up in the second and third quarters. It was reported the three of <br /> 2 the four TIF district funds were doing well. <br /> 3 <br /> 4 Finance Director Beer indicated Area D and the water tower rehabilitation were major projects <br /> 5 the City would fund in 2011. He noted that the economy was still slow and investments were <br /> 6 earning an extremely low rate at this time. The State's unemployment rate is at 6.6% at this time <br /> 7 which indicated the State was struggling and having a hard time recovering from the downturn. <br /> 8 <br /> 9 Finance Director Beer stated the City was waiting to hear from the State on the market value <br /> 10 homestead credits and LGA. At this time, the City has been told to not anticipate more than <br /> 11 received in 2010. He indicated the City just completed its annual audit and it will be reviewed in <br /> 12 detail at a meeting in May. The information was available on the City's website. <br /> 13 <br /> 14 Council Member Hull questioned the level of the community center fund transfer. Finance <br /> 15 Director Beer stated the fund transfer would be replaced with revenues as the year progressed. <br /> 16 He reported that the community center had a deficit of only$20,000 in 2010. <br /> 17 <br /> 18 Council Member Mueller asked if the City would be increasing the number of antennas on the <br /> 19 City's water tower. Finance Director Beer stated AT&T was looking to locate at this site along <br /> 20 with a wireless provider. <br /> 21 <br /> 22 Council Member Mueller inquired if the water tower had additional space for new vendors. <br /> 1111 <br /> 23 Finance Director Beer indicated the water tower railing would be expanded through the <br /> 24 renovations this summer and all MetroComm antennas were going to removed, which would free <br /> 25 up space. <br /> 26 <br /> 27 Mayor Flaherty questioned the balance of the park dedication funds. Finance Director Beer <br /> 28 explained the City had a cash balance of$915,000 in park dedication funds. <br /> 29 <br /> 30 iii. Administrator's Report <br /> 31 <br /> 32 City Administrator Ericson reported on an opportunity to add signage to the community center <br /> 33 building to help distinguish between city hall and the community center. He reviewed the <br /> 34 renderings and quotes with the Council. JDI Signs submitted a low bid for the 24" sign at <br /> 35 $1,860. He requested feedback from the Council on this issue noting it would be paid for by <br /> 36 funds undesignated, donated from Bethlehem Baptist church. <br /> 37 <br /> 38 Council Member Gunn agreed with the recommendation of Staff and suggested Council proceed <br /> 39 with the sign. <br /> 40 <br /> 41 Council Member Mueller also agreed, stating this would assist with visually labeling the building <br /> 42 in the community. <br /> 43 <br /> Ill <br />