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05-23-06 Worksession CITY COUNCIL MINUTES Richfield, Minnesota Special Worksession May 23, 2006 The meeting was called to order by Mayor Kirsch at 5:00 p.m. Members Present: Martin Kirsch, Mayor; Bill Kilian; Sue Sandahl; and Fred Wroge. Members Not Present: Staff Present: Susan Rosenberg. Steven Devich, City Manager; Bruce Palmborg, Community Development Director; Mike Eastling, Public Works Director; Kristin Asher, Assistant City Engineer; Randy Hughes, Operations Superintendent; Chris Regis, Finance Manager; Cheryl Krumholz, Recording Secretary; and Corrine Thomson, City Attorney. It m#1 Public Works Director Eastling introduced Pete Willenbring, WSB stormwater consultant, and City staff who would be providing an update on Richfield stormwater management activities. Mr. Willenbring reported on the City's stormwater management needs, objectives and responsibilities. Assistant City Engineer Asher reported on the currently anticipated projects including their description and cost estimate: . 64th Street at 35W/Girard Avenue storm sewer . Richfield Lake improvements . Augsburg Parkl73rd Street and First Avenue stormsewer improvements . City stormwater pond maintenance and/or enhancements Public Works Director Eastling provided an update on the Public Works Maintenance Facility project, budget worksheet and public participation process. The Ketroser property site assessment and recommendation prepared by SEH were distributed. City Attorney Thomson stated closing on the Ketroser property is set for May 31,2006. Special Worksession Minutes -2- May 23, 2006 City Manager Devich discussed a timetable of future debt considerations for 2006,2007,2008 and 2009, including the annual $10 million bonding cap and the importance of preserving the City's bond rating. He added that Richfield basically has no debt. Sid Inman, Ehlers & Associates Inc., explained bond options including bond exemptions, bank qualified bonds and the importance of timing. City Manager Devich stated a bonding schedule and its impact on future years will be prepared. The City Council consensus was to move forward with the new maintenance facility including determining if the bond sale is the best financing option. (All handout materials are in City Clerk File No. C-417.) The meeting was adjourned by unanimous consent at 6:24 p.m. c~4i~ Recording Secretary Date Approved: June 13, 2006 I