04-15-2002 - Laserfiche WebLink

Commission Minutes-April 15, 2002 2432 8. CONTRACT APPROVAL, North Dakota Department of Transportation; Roadwav _ Services. Inc.: Wheeler Lumber Operations MOTION, passed Mr. Wagner moved and Mrs. Schneider seconded to approve the following contracts submitted by respective department head, subject to the state's attorney approval, and authorize the chairman to sign. On roll call vote, the motion carried unanimously. North Dakota Department of Transportation for replacement of bridge on the Rush River, six miles west of Harwood; North Dakota Department of Transportation for shoulder widening and bituminous overlay of County Highway 26 from County Highway 5, nine miles west; Road Way Services, Inc. for crack cleaning and seal on various locations in Cass County; Wheeler Lumber Operations purchase order in the amount of $36,780 for Harmony Township bridge materials in Sections 3-4. - 9. RESOLUTION #2002-6, MIDA Bond hearinQ for YMCA A public hearing was advertised for this date and time relating to Community Improvement Revenue Bonds for the Fargo-Moorhead Family YMCA Project Series 2002. Attorney James Stewart, of Arntson & Stewart, P.C., was present representing the YMCA as bond counsel. He said the YMCA is asking the county to approve up to $3.8 million in MIDA Bonds (Municipal Industrial Development Act), and the proceeds would be used for three different purposes, as follows: $650,000 for renovation of the downtown YMCA daycare center; $1,550,000 to refinance some of the debt that was incurred to construct and equip the childcare facilities, locker rooms and weight training facilities at the YMCA West; and $1,600,000 to refinance debt used to construct and equip the fitness center at the downtown YMCA. - Mr. Stewart asked the County Commission to keep in mind the distinction between a non- profit corporation and for-profit corporations. As a non-profit, he said the YMCA operates under certain restrictions, which include operating in a charitable manner. The YMCA does not believe approval of these bonds will result in any adverse impact on existing business because this is not a question of whether or not these facilities will be built. Two of the projects already exist and the third project will be done this summer to move the daycare center from the basement area to the main level. If the projects continue to be financed on a conventional basis, Mr. Stewart said it would cost the YMCA at least $300,000 more than tax exempt financing. He noted that these bonds do not create any liability on the part of the county, and he concluded by saying the county is being asked to adopt a resolution authorizing the issuance of MIDA Bonds at the close of today's hearing. Mr. Wieland declared the public hearing open at this time. Paul Finstad, Executive Director of the YMCA, responded to a question from Mrs. Schneider about additional programming. Mr. Finstad said the dollars saved by refinancing the YMCA construction debt could be in excess of the $300,000 mentioned earlier, and he said these funds would be used for programs which the YMCA provides to the community, such as programming for students at Madison and Jefferson Elementary Schools. The YMCA also provides subsidies for adult memberships, he said.