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<br />I <br /> <br />I <br /> <br />I <br /> <br />City Council Minutes <br />March 28, 1995 <br /> <br />Page 3 <br /> <br />Special Order of Business. continued <br /> <br />Von Rothkirch said the market valuation notice contained information if a property <br />owner wishes to submit an application of review. The deadline for application to the <br />Assessment Board of Equation is April 7. Every application will be considered if the <br />value appears to be excessive. The public can submit real estate appraisals, <br />photographs, or other information for consideration. Council thanked Von Rothkirch <br />for his presentation. <br /> <br />Consent A~enda <br /> <br />Motion by Gunderman, seconded by Larson, to APPROVE THE CONSENT <br />AGENDA ITEMS AS FOLLOWS: <br /> <br />1. <br /> <br />CONSOLIDATED VOUCHERS: 062934-063155 FOR A GRAND <br />TOTAL OF $609,600.02. <br /> <br />CONSIDERATION OF APPROVAL TO AMEND ATTACHMENT A, <br />1995 PAY PLAN OF RESOLUTION 94-144, ESTABLISHING <br />COMPENSATION RATES AND INSURANCE CONTRIBUTIONS FOR <br />NON-UNION PERSONNEL, TO RECLASSIFY THE POSITION OF <br />ACCOUNTANT TO SENIOR ACCOUNTANT AND CREATE THE <br />POSITION OF SENIOR ACCOUNTING CLERK AT WAGE RATES <br />AND EFFECTIVE DATES NOTED ABOVE. <br /> <br />2. <br /> <br />3. <br /> <br />CONSIDERATION OF APPROVAL TO WAIVE THE READING AND <br />ADOPT THE RESOLUTION AMENDING PORTIONS OF CHAPTER 7 <br />OF THE NEW BRIGHTON CITY CODE AND ADOPTING BY <br />REFERENCE THE 1994 UNIFORM BUILDING CODE. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Public Hearing - None <br /> <br />Council Business <br /> <br />Community Development Director Kevin Locke presented for consideration the <br />issuance of housing revenue bonds for Polynesian Village Apartments. <br /> <br />The owners of the complex have been pursuing financing for the renovation and <br />refinancing of their property. In January, a public hearing was held on the bond <br />issuance. The owners are ready to proceed and final approved by Council is needed. <br />The Housing Revenue Bonds will be in two series for a total amount of $13,940,000. <br />In addition to refinancing, the bonds will enable the owners to make $3,688,965 in <br />improvements. Maintaining the quality of the City's rental housing stock is important <br />to the City's future and Polynesian Village is the largest rental complex in the City. <br />Authorizing these bonds is in the best interest of the City and consistent with the <br />City's housing plans. Housing Revenue Bonds are a limited obligation of the City, <br />payable solely from the revenue generated from the project and other security <br />pledged. The bonds do not effect the City's credit nor can the payment be charge <br />against the City. The cost of issuance is the responsibility of the owners. <br /> <br />Special Order of <br />Busin<;:ss <br /> <br />Property Valuation <br />Process <br /> <br />Consent Agenda <br /> <br />Vouchers <br />Report 95-042 <br /> <br />Amendment to 95' <br />Compensation Rates <br />Report 95-043 <br /> <br />1994 Uniform <br />Building Code <br />Report 95-044 <br />Ordinance 611 <br /> <br />Council Business <br /> <br />Polynesian Village <br />Housing Revenue <br />Bonds <br />Report 95-045 <br />Resolution 95-022 <br />