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Home My WebLink About6.b. Community Center Project UpdateCITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION PORT AUTHORITY MEETING DATE:October 6, 1992 AGENDA ITEM:Armory / Community Center Project AGENDA SECTION: Update on project & Financing EXECUTIVE DIR. REPORT PREPARED BY: Stephan Jilk AGENDA m # 6B ATTACHMENTS: None APP OVED BY: _:Ma� (24� --4 I would like to take a few minutes to discuss with you the status of the Armory and Community Center project. There are a few items that you need to be aware of and to understand about the status of the financing and construction contracts. Specifically I will be providing information on; 1) The second modification to tax increment district as was suggested and is not now needed. 2) The status of the financing arrangements and the necessary bond sales for the different financing methods being used on the project. 3) The outcome of the Minnesota State Armory Building Commissions bond sale and the effects it will have on the city. 4) The need to set two special Port Authority Meetings in October to take action on the bond sale. RECOMMENDED ACTION:Motion to set special Port Authority Meetings for the purpose of taking action on the issuance of Port Authority Bonds for the construction of portions of the Armory and Community Center and the relocation of businesses on Highway #3 for October 13 and October 27, 1992 at 7:30 P.M. PORT AUTHORITY ACTION: CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION PORT AUTHORITY MEETING DATE:October 6, 1992 AGENDA ITEM:Armory / Community Center Project AGENDA SECTION: Update on project & Financing EXECUTIVE DIR. REPORT PREPARED BY: Stephan Jilk AGENDA 6B - ATTACHMENTS: None APP VED BY: I would like to take a few minutes to discuss with you the status of the Armory and Community Center project. There are a few items that you need to be aware of and to understand about the status of the financing and construction contracts. Specifically I will be providing information on; 1) The second modification to tax increment district as was suggested and is not now needed. 2) The status of the financing arrangements and the necessary bond sales for the different financing methods being used on the project. 3) The outcome of the Minnesota State Armory Building Commissions bond sale and the effects it will have on the city. 4) The need to set two special Port Authority Meetings in October to take action on the bond sale. RECOMMENDED ACTION:Motion to set special Port Authority Meetings for the purpose of taking action on the issuance of Port Authority Bonds for the construction of portions of the Armory and Community Center and the relocation of businesses on Highway #3 for October 13 and October 27, 1992 at 7:30 P.M. PORT AUTHORITY ACTION: