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City Council Regular Meeting Minutes May 14, 2002 Page 2 V. PUBLIC HEARINGS. 2 A. Resolution 02-044, re: Refundin housing and revenue bonds for Autumn Woods. 3 Gilligan indicated that these bonds were issued in 1992 to refinance prior bonds issued by 4 the City to finance the acquisition and construction of Autumn Woods apartments. He 5 indicated that the refunding bonds are proposed to be issued in the principal amount of 6 $7,775,000,which is the outstanding amount, and would bear interest at a variable rate. 7 Would like to refund in order to pay off the bonds. He concluded that the city would 8 have no liability with respect to the refunding bonds. 9 10 Mayor Hodson asked if this was a typical procedure? Gilligan indicated that it was a 11 fairly routine procedure, but that you do not see as many because the requirements are 12 more stringent. 13 14 Mayor Hodson opened the public hearing at 7:04 p.m. 15 16 Paul Brewer, Autumn Woods, came forward to address any questions regarding the 17 refinancing by the Council. He indicated Autumn Woods was built about 15 years ago 18 with Tax Increment Funds, and that they could capture lower interest rates now on the 19 bonds. He concluded that he appreciates the city's support for the project. 20 21 Mayor Hodson closed the public hearing at 7:06 p.m. 0 Motion by Councilmember Sparks, second by Councilmember Faust, to adopt Resolution 24 02-044, re: Refunding of housing and revenue bonds for Autumn Woods. 25 26 Motion carried unanimously, 27 28 VI. REPORTS FROM COMMISSIONS AND STAFF. 29 A. Discussion of Community Prevention Coalition. Bob Foster will be present. 30 Bob Foster came forward to provide an update on what he called an evolving process in 31 St. Anthony Village. 32 33 Foster stated that the mission of the Community Prevention Coalition (CPC) is joining 34 together to create an environment that encourages safe and drug-free lives for youth. 35 36 Foster added that the objectives of the CPC are: to initiate, coordinate, facilitate, support 37 and enhance programs, activities and services that combat substance abuse and violence 38 among youth and families; mobilize all elements of the community including parents, 39 schools, churches, city government, law enforcement, civic groups, businesses and social 40 agencies in accomplishing our mission. 41 42 Foster indicated that that both CPC and ACTION (Adults And Children Together In Our 43 Neighborhoods)bring together schools, civic organizations, faith-based groups and community members from School District 282 and the St. Anthony Village/New Brighton area to plan and undertake activities that improve the lives of all residents. 46 47 Foster stated that when Bob Duncan became head of the new school district, he wondered 48 why the neighboring towns were not working collaboratively.