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preliminary approval, establishing compliance with certain reimbursement regulations under IRS Code and taking certain other actions with respect thereto for the Silver Lake Pointe Project. <br /> She reported this was the first step in the process and may or may not go forward depending on if the developer receives funding from the State. She indicated the City would have no <br /> responsibility for these bonds, but rather the responsibility would fall solely on the developer. <br /> <br />MOTION/SECOND: Meehlhause/Smith. To Waive the Reading and Adopt Resolution 10175, A Resolution Relating to the Issuance of Conduit Revenue Bonds to Finance the Costs of a Multifamily <br /> Housing Development Under Minnesota Statutes, Chapter 462C; Granting Preliminary Approval Thereto; Establishing Compliance with Certain Reimbursement Regulations Under the Internal <br /> Revenue Code of 1986, as Amended; and Taking Certain Other Actions with Respect Thereto (Silver Lake Pointe Project). <br /> <br />Council Member Meehlhause stated he supported the Council moving forward with the conduit revenue bond issuance. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />Consideration of a Fee Reduction on the Senior Suite Living Development at 7687 Long Lake Road. <br /> <br />Assistant City Administrator Beeman requested the Council consider a fee reduction for the Senior Suite Living Development at 7687 Long Lake Road. He stated the developer is requesting <br /> a reduction or deferment in the City’s park dedication fees. Staff recommended the Council authorize the amount up to $80,000. <br /> <br />Council Member Smith indicated she did not want this project to affect the City’s park dedication fund. <br /> <br />Council Member Clark agreed. <br /> <br />Mayor Lindstrom inquired if the Council supported waiving or reducing the park dedication fee for the developer of the Senior Suite Living Development at 7687 Long Lake Road. <br /> <br />Council Member Meehlhause and Council Member Gunn did not support this action. <br /> <br />Mayor Lindstrom indicated he did not support a fee waiver or reduction either. <br /> <br />Council Member Meehlhause requested further information regarding the proposed development. Assistant City Administrator Beeman explained the developer was proposing to construct a 32 <br /> unit assisted living and end of life senior care facility. <br /> <br />Council Member Meehlhause noted if this project were to move forward, this would be the only end of life senior care facility in Mounds View. <br /> <br />Mayor Lindstrom reported the church and day care facility would remain on this property. He