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RESOLUTION NO. 08-046 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON A RESOLUTION ESTABLISHING A NORTHWEST QUADRANT FINANCIAL TASK FORCE. THE CITY COUNCIL RAS MET AND HAS DETERMINED THAT A NORTHWEST QUADRANT TASK FORCE BE ESTABLISHED, AND THE PURPOSE OF THIS TASK FORCE SHALL BE TO ADVISE THE CITY COUNCIL ON THE STATUS OF INCOME, EXPENSES, FINANCING OBLIGATIONS AND REPAYMENT I, TAXES, ETC. RELATING TO THE NORTHWEST QUADRANT REDEVELOPMENT AREA, THE CITY COUNCIL AGREES TO REPEAL RESOLUTION 08-028 AND ADOPT THIS IN ESTABLISHING THE NORTHWEST QUADRANT FINANCIAL TASK FORCE. EREAS, 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 EREAS, THE TERMS OF THE NORTHWEST QUADRANT FINANCIAL TASK FORCE SHALL BE: 1. NINE TASK FORCE MEMBERS WILL BE APPOINTED TO A TERM OF THREE YEARS. 2. 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. 3. 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. 4. THE TASK FORCE CHAIR SHALL BE THE DESIGNATED CONTACT PERSON TO THE STAFF LIASION. 5. 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. 6. TASK FORCE MEETINGS SHALL BE TELEVISED.