HomeMy WebLinkAboutCC MINUTES 04021985 Meeting Sheet
101827
BOX: 21
Folder: CC MINUTES AND AGENDAS 1985
Document: CC MINUTES 04021985
CITY OF ST. ANTHONY
SPECIAL COUNCIL MEETING MINUTES
• April 2, 1985
The meeting was called to order by Mayor Sundland at 7:00 P.M.
Present for roll call : Sundland, Marks, Ranallo, and Enrooth.
Absent: Makowske.
Also present: David Childs, City Manager.
The Manager presented for Council consideration the March 28, 1985 Springsted
Incorporated recommendations for the issuance of $545,000 General Obligation Tax
Increment Bonds in support of Tax Increment Districts #1_ .and #2, for -which $165,000
would be issued for the Kenzie Terrace Kenzington and Walker on Kenzie Projects
in District #1 , to be repaid with incremental tax revenues together with land
sale revenues from the project and $380,000 would be issued for the 29 units of
residential property being built in District #2 to be repaid from the incremental
tax and land sale revenues from that project.
The Council and representatives of the Bulletin and Northeaster had been provided
copies of the finance advisors' recommendations as well as the Certification of
Minutes and the proposed resolution authorizing the issuance of the bonds, which
had been prepared by the City Attorney. A Springsted Vice President, Richard
Treptow, covered the recommendation document, page by page, for the Council who
• he indicated he perceived would be having their first experience with this type
of bonding. Mr. Treptow affirmed the Mayor's assessment that it would be to the
City's advantage to have either project completed ahead of schedule, as it
appeared might happen with the townhome project, since the tax increments would
start to flow sooner, enabling the bonds to be paid off quicker than projected.
The Springsted executive told the Council members that his firm had intentionally
given very conservative projections for the issue and he stated he would not
anticipate there would ever be a need for a general levy to pay off the bonds.
The Council accepted Mr. Treptow's suggestion that it might be wise to wait until
there is a firm decision from the legislature regarding the state aids to munici-
palities to make a presentation to Moodys for a better bond rating.
When Councilman Ranallo indicated he would be unable to attend the May 7th opening
of the bids, Mr. Treptow told him only a majority of the Council would need to
be present.
Motion by Councilman Ranallo and seconded by Councilman Marks to adopt Resolution
85-020 and to schedule a Special Council meeting for 4:30 P.M. , May 7, 1985, at
which the City would receive the sealed bids for this issue.
RESOLUTION 85-020
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF
$545,000 GENERAL OBLIGATION TAX INCREMENT BONDS,
SERIES 1985A
-• Motion carried unanimously.
r
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At 7:37 P.M. the Mayor opened the public hearing on the City's planning allocation
• of $34,061 for Year XI Urban Hennepin County Community Development Block Grant
funds which had been publicized in the April 2, 1985 Bulletin.
Mr. Childs had included in the agenda packet a copy of the March 19th Planning
Commission minutes reporting their recommendations for the CDBG allocation.
The Manager reiterated the reasons he was now proposing $28,961 of those funds be
allocated for site improvements for the Walker senior housing project rather than
housing rehabilitation, as stated in the notice of the hearing, and reported the
Commission had recommended $5,000 of those funds should be used, instead., to
provide sidewalks on Stinson Boulevard between 39th Avenue N.E. and the Apache
Medical Center, if the County could be convinced those sidewalks would benefit
primarily low income persons, as required.
Mr. Childs indicated he had not heard from the County, but perceived there had
been very little change in the circumstances surrounding this request since they
had turned down the same request for Year X allocation, and he was not too hopeful
that use would be approved. He also speculated that these funds might not be
available to the City in the future since they are included in the list of
federally funded projects proposed to be eliminated.
Motion by Councilman Marks and seconded by Councilman Enrooth to allocate the
City's $34,061 Year XI Urban Hennepin County Community Development Block Grant
funds for:
Public Service (.senior citizens programs). $ 5,100
• Site. Improvement, Landscaping, and Soil $28,961
Correction for the Walker on Kenzie
Senior Housing Project
unless the County approves the $5,000 Stinson Boulevard Sidewalk project, in
which case, the Walker project allocation would be decreased $5,000 to pay for the
sidewalks.
Motion carried unanimously.
Motion by Councilman Ranallo and seconded by Councilman Enrooth to adjourn the
meeting at 9:41 P.M.
Motion carried unanimously.
Respectfully submitted,
Helen Crowe, Secretary
ayor
ATTEST:
• City Clerk