11-02-2020 Regular CCM - Laserfiche WebLink

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City Council Minutes Page 10 November 2, 2020 ----------------------------- no history other than an ice arena. He discussed the future of the facility and the confidence that this building can sustain its own budget, debt service and capital outlay. Councilmember Ovall asked if any stress testing had been done on the revenue and what are backup sources of funding if it ends up in the negative. Ms. Ziemer stated currently it would come out of reserves with a current cash balance at around $380,000. A backup fund would be either the General Fund or some other fund. Councilmember Westgaard noted if the revenue is not there, the expenditures will have to wait. The council discussed the naming rights contract, how the funds will be coming into the government building fund until expenses are met, and how contributions and payments would be managed. Mr. Portner will email the contract to the council. Ms. Ziemer presented the proposed tax levy and General Fund budget for 2021. The council discussed the significant housing value changes, and Ms. Ziemer stated the increase in values that could be based on newer homes being built which are higher value homes as well as home sales. The council discussed at length removing the earlier proposed $200,000 public works facility debt levy. If it were removed, Ms. Ziemer stated the levy increase would be lowered to 1.9%. After discussion, the consensus of the council was to remove the $200,000 line item from the levy. Council recessed at 9:46 p.m. and reconvened into closed meeting at 9:50 p.m. 11. • Performance Evaluation The council met in closed session pursuant to MN Statute 13D.05, Subdivision 3(a). The purpose of the closed meeting was to discuss the work performance of City Administrator Cal Portner. 12. Adjournment PON E R i B B Y NATUR