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<br />ffi< <br /> <br /> <br />ITEM 4.8. <br /> <br />River <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />MAYOR & CITY COUNCIL <br /> <br />FROM: <br /> <br />PAT KLAERS, CITY ADMINISTRATOR <br /> <br />DATE: <br /> <br />JULY 21,1994 <br /> <br />SUBJECT: UPDATE ON ICE ARENA PROJECT <br /> <br />. <br /> <br />Ice Arena Chairman Jeff Gongoll will be at the Council meeting to present <br />the results of the Ice Arena Committee's revised revenue and expenditures <br />projections for the proposed ice arena. Attached is the cash flow projection <br />which was prepared by Dale Martin from input by the Committee. It is <br />recommended that the City Council accept the project financial guidelines <br />which call for $230,000 annually being available for debt service and <br />authorize the Task Force to recruit of a construction manager for this project. <br />It is anticipated that a recommendation on a construction manager will be <br />before the City Council some time in August. <br /> <br />By way of background, in August, 1993, a Citizens Task Force was formed to <br />look at the community center needs in Elk River. Chairman Gongoll made a <br />presentation to the Council in August, 1993, and at this meeting the City <br />Council appointed Councilmember Farber to this Committee. <br /> <br />At the January 17, 1994, City Council meeting, Mr. Gongoll made a <br />presentation which indicated that the focal point of the Committee had <br />become the need for another ice arena. Additionally, the location of the <br />facility had been identified as next to the existing ice arena and not in <br />conjunction with the community center at City Hall. It was proposed that <br />the City would own and operate both the existing and future ice facilities and <br />that an Advisory Board would be established to oversee the operations of the <br />ice arenas. It was the goal of the Committee to have a 2500 seat facility that <br />would have a construction cost of $3 million. <br /> <br />. <br /> <br />At the January 31, 1994, City CounciUSchool Board meeting, the School <br />Board approved a motion which indicated the school would deed land to the <br />City next to the existing ice arena with certain contingencies. Following this <br />meeting, the Committee began working on the finances for the project. <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />