HomeMy WebLinkAbout04-06-2015 Work SessionMeeting of:
Date of Meeting:
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CALL TO ORDERJROLL CALL
The meeting was called to order at 7:35 PM
Present:
COLUMBIA HEIGHTS CITY COUNCIL
April 6, 2015
7:00 PM- Following the EDA Meeting
Conference Room #1
WORK SESSION
Mayor Peterson, Councilmembers Murzyn, Jr, Nawrocki, Schmitt and Williams. City Manager Walt
Fehst, Finance Director Joe Kloiber, City Clerk Katie Bruno.
City Manager Walt Fehst explained that the City has offered the use of its credit rating to underwrite
bonds, for a fee. In 2007 Crestview borrowed $22,000,000.
Crestview is building a project in Blaine, and has requested to refinance their bonds. If the bonds would
be allowed to extinguish over time the amount would be about $338,000.00, or a present value of
$240,000.00.
Finance Director Joe Kloiber reported that this would be an agreement between the City of Columbia
Heights, the City of Blaine and Crestview. The intent is to have this before the Council as soon as
possible, as it may time for the Attorney to get the agreement in order.
Councilmember Nawrocki questioned if Crestview will be eliminating the outstanding debt, and if the
City is released from liability. Director Kloiber confirmed that the City's would not be responsible if the
debt is satisfied.
The following applicants were interviewed for consideration of appointments to Advisory Commissions:
Ann Carder, Connie Buesgens, Laura Palmer, Sarah Arneson, Stan Hoium, Carol Broermann, Tim Utz,
and Betsy Jetson.
Meeting Adjourned at 9:10 PM
Respectively Submitted,
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Katie Bruno,
City Clerk/Council Secretary