City of Blaine Anoka County, Minnesota - File #: RES 13-075

• File #: RES 13-075
• Version: 1
• Name: Authorizing Use of CIF, and Directing Billboard Proceeds
• Type: Resolution
• Status: Passed
• File created: 5/2/2013
• In control: City Council
• On agenda: 5/2/2013
• Final action: 5/2/2013
• Title: AUTHORIZING USE OF CAPITAL IMPROVEMENT FUND TO COMPLETE FUNDING OF CITY HALL CONSTRUCTION AND DIRECTING PROCEEDS FROM BILLBOARD LEASES TO FUND EDA OPERATIONS
• Sponsors: Joe Huss

Date	Ver.	Action By	Action	Result
5/2/2013	1	City Council	Adopted As Amended	Pass
5/2/2013	1	City Council	Amended	Pass

ITEM:         12.6        ADMINISTRATION - Joe Huss, Finance Director

Title

AUTHORIZING USE OF CAPITAL IMPROVEMENT FUND TO COMPLETE FUNDING OF CITY HALL CONSTRUCTION AND DIRECTING PROCEEDS FROM BILLBOARD LEASES TO FUND EDA OPERATIONS

Background

At the Council Retreat on March 14, the City Council indicated their desire to use the Capital Improvement Fund (CIF) to pay the current deficit that exists in the City Hall Construction Fund.  In addition, the Council discussed and reached consensus that proceeds from billboard leases be used to fund EDA activity.  Adoption of the resolution below would accomplish those two directives.

Recommendation

By motion, adopt resolution as presented below.

Body

WHEREAS, in 1999 Council authorized the use of certain revenue sources to fund the construction of the City Hall located at 10801 Town Square Drive, including the City's Capital Improvement Fund (CIF) and proceeds from the sale of the former City Hall site; and

WHEREAS, in 2002 the City Council authorized the use of the CIF to temporarily fund that portion of the project for which the proceeds from the sale of the former City Hall site would provide permanent funding; and

WHEREAS, the former City Hall site remained unsold over the succeeding six years; and

WHEREAS, on March 5, 2009 the sale of the former City Hall site was deemed unfeasible and that the optimal use of the property was for parks and open space; and

WHEREAS, on March 5, 2009 the City Council placed the former City Hall site into the City's Parks ordinance and authorized the use of proceeds from billboard leases to fund the City Hall construction project payable; and

WHEREAS, it is now the City Council's desire to pay the remaining balance payable on the City Hall construction project from the CIF, and to redirect proceeds from billboard leases to fund economic development activity;

NOW, THEREFORE, BE IT RESOLVED, that the Blaine City Council authorizes the use of the CIF to fund the remaining balance payable on the City Hall construction project; and

BE IT FURTHER RESOLVED, that the proceeds from billboard leases be directed to provide funding for operations for the Blaine Economic Development Authority.

PASSED by the City Council of the City of Blaine on the 2^nd day of May, 2013.