10-17-1991 CC MIN - SPECIAL - Laserfiche WebLink

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tit SPECIAL MEETING OF THE ELK RIVER CITY COUNCIL HELD AT ELK RIVER CITY HALL THURSDAY, OCTOBER 17, 1991 MEMBERS PRESENT: Mayor Tralle, Councilmembers Schuldt, Kropuenske, Dietz, and Holmgren MEMBERS ABSENT: None STAFF PRESENT: Pat Klaers, City Administrator; Lori Johnson, Finance Director; Bill Rubin, Economic Development Coordinator; and Sandra Thackeray, City Clerk 1. Call Meetinl to Order Pursuant to due call and notice thereof, the meeting of the Elk River City Council was called to order at 6:35 p.m. by Mayor Tralle. 2. Consider 10/17/91 City Council Alenda It was the consensus of the CHy Council to accept the 10/17/91 City Council agenda as presented. e 3. Discussion Relardinl Industrial Park Purchase Pat Klaers indicated that the Council discussed the issue of purchasing the remaining lots in the Elk River Industrial Park in a favorable manner at previous Counci I meetings. He indicated that the Counci I should reach a final decision as to whether or not the City will pllr'chase the remaining lots in the Elk River Industrial Park for $210,000. Pat Klaers indicated that funds are available for the lots. He stated that staff is suggesting that over half of the money ($110,000) he taken from the Liquor Store reserves, $55,000 from the revolving loan fund, $20,000 from capital projects, and $25,000 from equipment reserves. He questioned whether these were appropriate sources to finance the purchase of the land. e Councilmember Dietz raised several issues regarding the City's proposed purchase of the Elk River Industrial Park. He questioned whether the the money would be recaptured if the Cl ty purchased the land. He stated that he appreciates all the Associated Investors have done for the City, but questioned what benefits the City would gain if it owned the lanel. He also questioned what would happen differently if the Ci ty owned the land instead of the Associated Investors. He stated that the Ci ty would probably continue to pursue buyers whether or not the Ci ty owned the property. He further stated he felt that the average tax payer would have a problem with the City using money for this purpose. Councilmember Dietz also questioned whether it would be fair to other' industr'ial property owners for the Ci ty to purchase one industrial park and not consider the purchasing of other industrial property.