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RESOLUTION NO. 08-028 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON A RESOLUTION ESTABLISHING A NORTHWEST QUADRANT FINANCIAL TASK FORCE. WHEREAS, THE CITY COUNCIL HAS MET AND HAS DETERMINED A NORTHWEST QUADRANT FINANCIAL TASK FORCE BE ESTABLISHED, AND WHEREAS, THE PURPOSE OF THIS TASK FORCE SHALL BE TO ADVISE THE CITY COUNCIL ON THE FINANCIAL STATUS OF INCOME, EXPENSES, FINANCING OBLIGATIONS AND REPAYMENT SCHEDULES, TAXES, ETC. RELATING TO THE NORTHWEST QUADRANT REDEVELOPMENT AREA, AND WHEREAS, THE DUTIES AND RESPONSIBILITIES OF THIS TASK FORCE SHALL BE TO: 1. PREPARE VARIOUS FINANCIAL MODELS, TO REVIEW ALTERNATE DEVELOPMENT SCENARIOS AND TIMING OF THE PROJECTS IN THE NORTHWEST QUADRANT. 2. RAISE ISSUES AND CONCERNS FOR STAFF AND THE CITY COUNCIL TO CONSIDER REGARDING THESE ACTIVITIES. 3. CONSIDER CURRENT AND PROPOSED PLANS AS THEY AFFECT OR CONCERN THE DEVELOPMENT OF THE NORTHWEST QUADRANT AND THE REPAYMENT OF THE FINANCIAL OBLIGATIONS. 4. REVIEW THE POTENTIAL IMPACTS ON THE CITY'S PROPERTY TAX ASSESSMENT TO PAY FOR THE OBLIGATIONS OF THE NORTHWEST QUADRANT BASED ON THE VARIOUS DEVELOPMENT SCENARIOS. 5. INVESTIGATE ALTERNATIVE METHODS TO PAY FOR THE OBLIGATIONS OF THE CITY RELATING TO THE NORTHWEST QUADRANT. 6. THE TASK FORCE SHALL MEET AT LEAST MONTHLY ON A SCHEDULE SET UP BY THE COUNCIL. 7. PERFORM OTHER DUTIES AS DIRECTED BY THE COUNCIL, AND WHEREAS, THE TERMS OF THE NORTHWEST QUADRANT FINANCIAL TASK FORCE SHALL BE: 1. SEVEN TASK FORCE MEMBERS WILL BE APPOINTED TO A TERM OF THREE YEARS. 2. THE EXPIRATION DATE OF EACH TERM WILL BE MARCH 31. 3. IF A TASK FORCE MEMBER RESIGNS IN THE MIDDLE OF A TERM, THE CITY COUNCIL WILL APPOINT A NEW MEMBER TO THE TASK FORCE TO COMPLETE THE TERM OF THE VACATED SEAT. 4. TASK FORCE APPOINTMENTS WILL BE VARIED SO THE TERMS OF APPROXIMATELY 1/3 OF THE TASK FORCE EXPIRE EVERY YEAR. 5. IF THE TASK FORCE IS ELIMINATED BY ACTION OF THE CITY COUNCIL, THE TASK FORCE MEMBERS' TERMS ARE ENDED AS OF THE DATE OF THE CITY COUNCIL ACTION. 6. THE TASK FORCE CHAIR SHALL BE THE DESIGNATED CONTACT PERSON TO THE STAFF LIASION. 7. TASK FORCE MEMBERS SHALL MEET TWO TIMES A MONTH FOF THE FIRST THREE MONTHS OF ITS EXISTENCE. THERE AFTER THE TASK FORCE MEMBER WILL BE REQUIRED TO MEET (AT A MINIMUM) ONE TIME EACH MONTH. NOW THEREFORE BE IT RESOLVED, BY THE CITY COUNCIL TO HEREBY ESTABLISH A NORTHWEST QUADRANT FINANCIAL TASK FORCE.