Agenda Packets - 1988/04/04 - Laserfiche WebLink

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March 28, 1988 Mounds View City Council A �„ Page Four Regular Meeting1iY�i� `-- u ----------- ---------------- -------------------------------------- Councilmember Quick asked if a loan could be floated from the sewer and water fund. Clerk/Administrator Pauley replied it could, end would have to be repaid with interest at the time development occurs. He further explained whyhe City is even considering purchasing property, P y, so as not to land -lock property that owners may want to develop in the future. Councilmember Quick stated he wonders if the residents in the area know the value of the property that is currently their back yards. Clerk/Administrator Pauley stated that lots of 11,000 square feet are going for anywhere from $20,000 to $30,000 Der lot, depending on how wooded they are. Mayor Links stated that whether they would borrow financing, from another fund or go with tax increment they would be borrowing from the future, and he has not made up his mind yet, hoping that there will be a better option. _ Councilmember Quick pointed out that if the property Y io bought now, it will cost less than it would later. Councilmember Hankner stated she has problems with been so far for funding. the options that have suggested Councilmember Blanchard stated she would have a problem w-'th borrowing from the water fund, as it was not established for this purpose, and the funds would then be tied up and not available for sewer and water work which may be necessary withir the City. Motion/Second: Quick/Wuori to table this item and erect Sta to lay out some financing options to be discussed, and table until April 11, 1988. Motion Carrlcu= 4 ayes 1 nay Councilmember Blanchard vrted against the motion. Motion Second: Linke/Quick to remove this item from 10. Remove from Table aCon- 'EFe—tar3le. sideration of 5 Appointment of ayes 0 nays Gordon Fedor to Civil Servic Commission, Motion Carried