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City cotuicil Minute's Page 5 <br /> July 7, 2014 <br /> --------------------------------- <br /> Councili-nembet Wilson questioned if investments are in funds or single held equities <br /> and if they are not is there a guiding principle the Relief Association follows, <br /> Brian McKnight, Part McKnight Wealth Management Group, stated investments are <br /> held in a combination of funds with 60% in equities and 40% in fixed income. He <br /> noted state law limits outlines some requirements for investments. <br /> Mr. Simon explained the Association's Investment Policy. <br /> Moved by Council ember Wilson and seconded by Councilmember <br /> Westgaard to increase the Elk River Fire Relief Association benefit level to <br /> $5,360 per year of service effective January 1, 2015. Motion carried 5-0. <br /> 8.6 Discuss Worksession Agendas <br /> Mr. Portner presented the staff report. He further added there would be a quiet zone <br /> follow-up and discussion on storm water fees. <br /> Mayor Dietz requested a discussion on ditches before the end of September. He <br /> suggested inviting county staff to participate. He noted Commissioner Anderson <br /> mentioned that the county would be doing somed-drig for cities for water issues. <br /> 9. Council Liaison Updates <br /> 'ne Council provided updates of the work of the various boards/commissions. <br /> Mayor Dietz noted there is avacancy on the Great River Regional Library Board and <br /> to let him know of anyone who would be interested in serving on this board. <br /> Councilmember Motin stated the Region 7W board would be allowing the <br /> appointment of alternate members in the case of a serving member not being able to <br /> make it a meeting. <br /> --------------------------------- <br /> Council recessed at 7:24 p.m. in order to go into worksession. <br /> Council reconvened at 7:29 p.m. <br /> 10.1 Development Fee Comparison <br /> Mr. Barnhart presented the staff report. He stated a challenge with a fee comparison, <br /> is not all fees translate directly. He stated cities call fees by different names and there <br /> are varying factors attached to fees such as Met Council, taxing separately for some <br /> services, cities providing different service levels for the fees, etc. He stated fees are <br /> based on needs and in line with the services being offered by each city. <br /> P 0 1 f A f ® I I <br /> NATURE] <br />