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<br /> <br />City Council Mi utes <br />August 20, 1984 <br />Page Nine <br /> <br />19. Plans and pecifications for Highwa #169 Water Trunk Crossing <br /> <br />Mr. Jeff Roos, Engineer of Consulting Engineers Diversified, submitted the final <br />plans and specifications for the Highway #169 water trunk line. Mr. Roos indicated <br />that the estimated construction cost could be reduced by $3,000 if the shopping <br />center site were to be graded to its proposed elevation prior to the construction <br />of the 16 inch water main. <br /> <br />COUNCILMEMBER GUNKEL MOVED TO ACCEPT THE PLANS AND SPECIFICATIONS FOR THE HIGHWAY <br />#169 TRUNK.WATER MAIN. COUNCILMEMBER.ENGSTROM.SECONDED.'tHE MOTION. THE MOTION <br />PASSED 3-0. <br /> <br />19~. Intersection of Gates Avenue and Third Street <br /> <br />Councilmember Gunkel indicated that prior to the construction of Gates Avenue <br />there was a four way stop sign at Gates Avenue and. Third Street, and further in- <br />dicated that she has received a number of phone calls concerning the traffic <br />speed along Gates Avenue and the request for the replacememt of the stop signs. <br />The City Administrator indicated that Gates Avenue is designed for a main thorough- <br />fare, therefore, stop signs were not placed along Gates Avenue. The City Ad- <br />ministrator further indicated that School Street would be a good comparison to <br />Gates Avenue. The City Administrator indicated that stop signs do not control <br />speed and that the police department could address the speed problem by placing <br />Gates Avenue on a regular radar schedule. <br /> <br />20. Administrator's Update <br /> <br />A. ICMA Annual Conference <br /> <br />COUNCILMEMBER GUNKEL MOVED TO APPROVE THE ATTENDANCE OF THE CITY ADMINISTRATOR <br />AT THE ICMA ANNUAL CONFERENCE IN SAN ANTONIO, TEXAS. COUNCILMEMBER SCHULDT <br />SECONDED THE MOTION. THE MOTION PASSED 3-0. <br /> <br />B. Tax Increment Financing for Residential Development <br /> <br />The City Administrator indicated that the developer of Deerfield Addition, Mr. <br />Gerry Smith, has requested that the City Council consider application for <br />residential financing through the Minnesota Housing Finance Agency. The <br />City Administrator indicated that the City must make the application to the <br />Minnesota Housing Finance Agency. The City Administrator indicated that there <br />are certain requirements that homeowners must meet to qualify for this type <br />of financing. The City Administrator further indicated that Mr. Gerry Smith <br />has indicated that he would pay the fees necessary for application. The <br />City Administrator indicated that the program is not geared to low and moderate <br />incomes, but more specifically to first time home buyers with an interest <br />rate at approximately 11%. <br /> <br />General discussion was carried on regarding the Minnesota Housing Finance <br />Agency and the maximum amount that may be applied for per developer. The <br />City Administrator indicated that any developer may apply for this type of <br />financing. The City Administrator indicated that another request has!been <br />received by the City regarding tax increment financing for approximately 500 <br />