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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />November 24, 1999 <br /> <br />Page 3 <br /> <br />Council Business. continued <br /> <br />Anderson said the proposal involves little or no land acquisition, however, if there was an <br />interested seller bordering Vermont Park then the City may have interest in acquisition. <br /> <br />Egan presented for consideration the use of reserves to finance the park capital <br />improvements. These reserves will create a benefit to the entire community and offer the <br />most immediate method to construct the improvements. The reserves total more than $20 <br />million, and after the withdrawal offunds for the park projects, the reserves will remain at <br />a level adequate to meet community needs. The Park Endowment Fund ($700,000) and <br />the Environmental Restoration Fund ($1,745,000) are the preferred funds to use, and <br />provide for the total need of $2,445,000. <br /> <br />Currently, the City's fiscal consultant is evaluating the advantage of issuing bonds to <br />provide the initial capital. Under this scenario, the principal ofthe reserve would be <br />relied upon to repay the bonds. This strategy is advantageous only ifthe borrowing rate <br />on the bonds is lower than the earning rate on the reserves. <br /> <br />Benke added that the Park Endowment Fund is the revenue received by the City when we <br />sold a portion of Long Lake Park to Ramsey County. Council dedicated those funds to <br />future capital improvements and other park related expenditures. <br /> <br />Fulton noted that annually $100,000 is applied to the budget to fund ongoing capital park <br />related activities. This annual allotment will decrease to about $30,000 as a result ofthe <br />improvements being funded by reserves. Egan confirmed the withdrawal of the funds will <br />be permanent. <br /> <br />Judy Newman, 510 13th Ave. NW, lives near Hansen Park and feels New Brighton has an <br />excellent park system and supports the improvements. <br /> <br />Motion by Gundennan, seconded by Larson, to APPROVE THE PARK <br />DEVELOPMENT SCHEDULE AND FUNDING PLAN AND AUTHORIZE <br />PREPARATION OF PLANS AND SPECIFICATIONS FOR SHELTER <br />BUILDINGS AT HANSEN, SUNNY SQUARE, TOTEM POLE AND FREEDOM <br />PARK AND PARKING LOTS AT HANSEN AND TOTEM POLE PARKS. <br /> <br />5 Ayes - 0 Nayes, Motion Carried. <br /> <br />Motion by Samuelson, seconded by Moore-Sykes, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION AUTHORIZING THE USE OF THE RESERVES TO <br />FINANCE PARK CAPITAL IMPROVEMENTS. <br /> <br />5 Ayes - 0 Nayes, Motion Carried. <br /> <br />, <br /> <br />City Planner Cary Teague presented a special use permit to install six digital wireless <br />telephone antennas to an existing NSP tower and construct a small equipment building on <br />the site, 2172 Old Hwy 8 NW. The applicant, Nextel Communications, proposes the 9' x <br />2' antennas be attached on the tower 105 feet from the ground. Staff feels landscape <br />screening is necessary and requested three six foot tall pines trees be installed on the south <br />and west sides of the building. <br /> <br />Council Business <br /> <br />Parks Master Plan <br />Elements and <br />Financing Plan <br />Report 99-256 <br />Report 99-256A <br />Resolution 99-114 <br /> <br />Nextel Special Use <br />Request <br />Report 99-257 <br />Resolution 99~ 116 <br />