City Council Notes-June 18, 2013

A part of the OACCT's Public Policy efforts for 2013 is for volunteers from the Public Policy committee attend both City and County meetings and report back on items that are of interest/concern to business.

Financial Director Rhonda Moen was presented with an Award of Financial Reporting Achievement.

Legislative Update from Senator Vickie Jensen.  We've covered much of what Senator Jenson updated the Council with but not the Local Sales Tax option.  Per Senator Jenson the City Council can decide on a local sales tax option without state legislative approval.  The Chamber should be involved if any local sales tax option is considered as early in the process as possible.

In economic development news, a 3.2% liquor license was approved for Target's expansion and the Right-of-Way Access Agreement on 26th St was also approved.

5 year capital improvement plan approved.

Bids for selling $3,890,000 in General Obligation Bonds by mid July was approved.  Note that City has a very good AA2 Moody's financial rating.

The Owatonna Arts Center has secured $1,300,000 in financing for their expansion project at West Hills and were authorized to advertise for bids.  Note $500,000 was from a local sales tax option for the elevator of this project.