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RESOLUTION NO. <br />08 - <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br />A RESOLUTION ESTABLISHING A NORTHWEST QUADRANT FINANCIAL TASK FORCE. <br />WHEREAS, THE CITY COUNCIL HAS MET AND HAS DETERMINED A NORTHWEST QUADRANT <br />FINANCIAL TASK FORCE BE ESTABLISHED, AND <br />WHEREAS, THE PURPOSE OF THIS TASK FORCE SHALL BE TO ADVISE THE CITY COUNCIL ON THE <br />FINANCIAL STATUS OF INCOME, EXPENSES, FINANCING OBLIGATIONS AND REPAYMENT <br />SCHEDULES, TAXES, ETC. RELATING TO THE NORTHWEST QUADRANT REDEVELOPMENT AREA, <br />AND <br />WHEREAS, THE DUTIES AND RESPONSIBILITIES OF THIS TASK FORCE SHALL BE TO: <br />1. PREPARE VARIOUS FINANCIAL MODELS, TO REVIEW ALTERNATE DEVELOPMENT <br />SCENARIOS AND TIMING OF THE PROJECTS IN THE NORTHWEST QUADRANT. <br />2. RAISE ISSUES AND CONCERNS FOR STAFF AND THE CITY COUNCIL TO CONSIDER <br />REGARDING THESE ACTIVITIES. <br />3. CONSIDER CURRENT AND PROPOSED PLANS AS THEY AFFECT OR CONCERN THE <br />DEVELOPMENT OF THE NORTHWEST QUADRANT AND THE REPAYMENT OF THE FINANCIAL <br />OBLIGATIONS. <br />4. REVIEW THE POTENTIAL IMPACTS ON THE CITY'S PROPERTY TAX ASSESSMENT TO PAY <br />FOR THE OBLIGATIONS OF THE NORTHWEST QUADRANT BASED ON THE VARIOUS <br />DEVELOPMENT SCENARIOS. <br />5. INVESTIGATE ALTERNATIVE METHODS TO PAY FOR THE OBLIGATIONS OF THE CITY <br />RELATING TO THE NORTHWEST QUADRANT. <br />6. THE TASK FORCE SHALL MEET AT LEAST MONTHLY ON A SCHEDULE SETUP BY THE <br />COUNCIL. <br />7. PERFORM OTHER DUTIES AS DIRECTED BY THE COUNCIL, AND <br />WHEREAS, THE TERMS OF THE NORTHWEST QUADRANT FINANCIAL TASK FORCE SHALL BE: <br />1. NEW TASK FORCE MEMBERS WILL SERVE AT THE WILL OF THE COUNCIL. <br />2. THE TERM OF THE TASK FORCE SHALL NOT EXCEED TWELVE (12) MONTHS. <br />3. IF A TASK FORCE MEMBER RESIGNS IN THE MIDDLE OF A TERM, THE CITY COUNCIL WILL <br />APPOINT A NEW MEMBER TO THE TASK FORCE TO COMPLETE THE TERM OF THE VACATED <br />SEAT. <br />4. IF THE TASK FORCE IS ELIMINATED BY ACTION OF THE CITY COUNCIL, THE TASK FORCE <br />MEMBERS' TERMS ARE ENDED AS OF THE DATE OF THE CITY COUNCIL ACTION. <br />NOW THEREFORE BE IT RESOLVED, BY THE CITY COUNCIL TO HEREBY ESTABLISH A <br />NORTHWEST QUADRANT FINANCIAL TASK FORCE. <br />