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2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />City Council Regular Meeting Minutes <br />July 14, 2026 <br />Page 5 <br />Councilmember Jenson asked whether the remaining liquor fund cash balance on the Renovation <br />and Construction Costs slide reflected the balance after renovation. Finance Director Maloney <br />stated this was the estimated amount. He asked why they would need to borrow additional funds <br />if the remaining balance was 812,500 dollars, which exceeds the recommended loan amount. <br />Finance Director Maloney stated that this was the liquor fund, which is separate from the <br />cannabis fund. She noted that the cannabis fund is negative because they have incurred costs <br />without currently turning a profit. She stated that the loan will be used to repay the liquor fund <br />for cannabis dispensary costs. Councilmember Jenson asked if this meant they would be <br />borrowing from themselves. Finance Director Maloney stated that they will. <br />Councilmember Doolan asked whether they would be transferring the loan from the $ 1.6 million <br />in the liquor fund. Finance Director Maloney stated that this is correct. <br />Councilmember Doolan asked how they will prioritize debt repayment, ongoing operations, and <br />the tax levy. Finance Director Maloney stated that the priority is to create a stable cannabis fund <br />and then repay the loan. She noted that the conservative approach is to repay the loan in 10 years, <br />but it is possible to repay it in less than a year. <br />Councilmember Doolan questioned the risk of delaying payments past the 10-year mark. Finance <br />Director Maloney stated there was little risk due to the strong current liquor fund. <br />City Manager Yunker stated that expanding into cannabis was experimental for St. Anthony, and <br />the City attempted to make as conservative investments as possible. He noted that they are not <br />using tax levy funds for this loan. <br />Motion by Councilmember Doolan, seconded by Councilmember Jenson, to approve Resolution <br />26-050 - Approving An Interfund Loan Between The Liquor Fund And The Cannabis Fund. <br />Motion carried 5-0 <br />D. Resolution 26 051 - Approving The Use Of Marketplace Retail Store For A Special <br />Event On Julv 18, 2026. <br />Mayor Webster welcomed Retail Operations Manager Anglum back to present on Resolution 26- <br />051. <br />Retail Operations Manager Anglum presented information about the grand opening of The <br />Village Muni. He informed the Council that businesses in the area have been notified of the <br />event so they can prepare for increased traffic. He noted that they have contacted other City Staff <br />to bring Touch a Truck to the event and have firefighters on site with a truck. He expressed his <br />excitement for the event. <br />Mayor Webster appreciated Retail Operations Manager Anglum's deliberateness in inviting <br />other City departments to be a part of the celebration. <br />