03-25-13 CC Reg Mtg AgendaP
COUNCIL ACTION FORM
Department Council Meeting Item Number
Finance March 25, 2013 3A
Item Description: Verified Claims
From: Michelle Nguyen
Bruce DeJong
Background / Previous Action
Claims for council authorization. The attached claims list includes checks numbered 54128 through
54167 totaling $128,873.82.
Staff Recommendation
Staff recommends approval of the claims list.
3/21/2013 10:50 AM A/P HISTORY CHECK REPORT PAGE: 2
VENDOR SET: 01 City of Shorewood
BANK: 1 BEACON BANK
DATE RANGE: 3/12/2013 THRU 99/99/9999
CHECK INVOICE CHECK CHECK CHECK
VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT
00051 EFTPS - FEDERAL W/H D 3/12/2013 000000 10,715.04
00092 MN DEPT OF REVENUE D 3/12/2013 000000 1,790.52
20005 WELLS FARGO HEALTH BENEFIT SVC D 3/12/2013 000000 1,363.05
00086 AFSCME COUNCIL 5 - UNION R 3/12/2013 054134 308.32
00053 ICMA RETIREMENT TRUST-302131-4 R 3/12/2013 054135 1,237.49
16625 NCPERS MINNESOTA R 3/12/2013 054136 32.00
00052 PERA R 3/12/2013 054137 6,003.84
29273 ALPHA VIDEO & AUDIO INC. R 3/25/2013 054139 133.60
01830 ASSOCIATION OF MN EMERGENCY MA R 3/25/2013 054140 35.00
04050 CARGILL DEICING TECHNOLOGY R 3/25/2013 054141 4,610.71
04081 CARQUEST AUTO PARTS R 3/25/2013 054142 173.06
26100 CENTURY LINK R 3/25/2013 054143 677.58
04500 CITY OF CHANHASSEN R 3/25/2013 054144 37.91
29278 CLASSIC CLEANING COMPANY R 3/25/2013 054145 844.31
07383 ELECTRICAL INSTALLATION & MAIN R 3/25/2013 054146 6,553.40
29486 GEORGIA KANDIKO R 3/25/2013 054147 216.00
10000 GROUT, TWILA R 3/25/2013 054148 28.60
10506 HENN CTY INFO TECHNOLOGY DEPT R 3/25/2013 054149 63.60
29426 HOMEHELP R 3/25/2013 054150 145.00
1 ICA-FOOD SHELVES R 3/25/2013 054151 856.92
1 JOAN WRIGHT NORWEX R 3/25/2013 054152 40.00
29291 JOHN DEERE LANDSCAPES R 3/25/2013 054153 533.53
3/21/2013 10:50 AM A/P HISTORY CHECK REPORT PAGE: 3
VENDOR SET: 01 City of Shorewood
BANK: 1 BEACON BANK
DATE RANGE: 3/12/2013 THRU 99/99/9999
CHECK INVOICE CHECK CHECK CHECK
VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT
11650 KENNEDY & GRAVEN, CHARTERED R 3/25/2013 054154 132.10
12250 KLM ENGINEERING INC R 3/25/2013 054155 1,500.00
22300 LUBE-TECH R 3/25/2013 054156 681.49
1 MADSEN ELECTRIC R 3/25/2013 054157 240.24
29259 MALKERSON GUNN MARTIN LLP R 3/25/2013 054158 6,049.50
15050 MEDIACOM R 3/25/2013 054159 69.95
18595 MUNICI-PALS R 3/25/2013 054160 25.00
15900 OFFICE DEPOT R 3/25/2013 054161 94.12
20805 PITNEY BOWES GLOBAL FIN. SVCS. R 3/25/2013 054162 243.94
29339 SKEIE, PATRICK R 3/25/2013 054163 180.00
25452 TWIN CITY WATER CLINIC R 3/25/2013 054164 100.00
25540 UNITED LABORATORIES R 3/25/2013 054165 373.22
29135 VALLEY-RICH CO., INC. R 3/25/2013 054166 12,535.68
19800 XCEL ENERGY R 3/25/2013 054167 11.24
04300 FLEETPRIDE TRUCK & TRAILER PAR E 3/25/2013 999999 952.86
05305 COMMUNITY REC RESOURCES E 3/25/2013 999999 5,286.03
12900 LAKE MINNETONKA CONSERVATION D E 3/25/2013 999999 7,917.75
13525 LINK, CLARE T. E 3/25/2013 999999 220.00
15885 MIDWEST MAILING SYSTEMS, INC. E 3/25/2013 999999 500.00
18500 WM. MUELLER & SONS, INC. E 3/25/2013 999999 1,877.35
19435 SPRINT E 3/25/2013 999999 124.31
20283 PARTS ASSOCIATES, INC. E 3/25/2013 999999 383.84
3/21/2013 10:50 AM A/P HISTORY CHECK REPORT PAGE: 4
VENDOR SET: 01 City of Shorewood
BANK: 1 BEACON BANK
DATE RANGE: 3/12/2013 THRU 99/99/9999
CHECK INVOICE CHECK CHECK CHECK
VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT
20300 PAZANDAK, JOSEPH E 3/25/2013 999999 900.22
27195 GRAINGER, INC E 3/25/2013 999999 1,405.13
28900 ZEE MEDICAL SERVICE E 3/25/2013 999999 67.20
29269 WARNER CONNECT E 3/25/2013 999999 525.66
29324 HANSEN THORP PELLINEN OLSON, I E 3/25/2013 999999 1,716.20
29338 BLANCHARD CATERING, INC. E 3/25/2013 999999 1,276.60
* * T O T A L S * * NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT
REGULAR CHECKS: 33 44,767.35 0.00 44,767.35
HAND CHECKS: 0 0.00 0.00 0.00
DRAFTS: 3 13,868.61 0.00 13,868.61
EFT: 14 23,153.15 0.00 23,153.15
NON CHECKS: 0 0.00 0.00 0.00
VOID CHECKS: 0 VOID DEBITS 0.00
VOID CREDITS 0.00 0.00 0.00
TOTAL ERRORS: 0
VENDOR SET: 01 BANK: 1 TOTALS: 50 81,789.11 0.00 81,789.11
BANK: 1 TOTALS: 50 81,789.11 0.00 81,789.11
REPORT TOTALS: 51 81,789.11 0.00 81,789.11
03-21-2013 10:50 AM C O U N C I L REPORT BY VENDOR- MARCH 25, 2013 PAGE: 1
VENDOR SORT KEY DATE DESCRIPTION FUND DEPARTMENT AMOUNT_
AFSCME COUNCIL 5 - UNION 3/12/13 P/R DEDUCTS - MAR UNION DU General Fund NON-DEPARTMENTAL 308.32_
TOTAL: 308.32
ALPHA VIDEO & AUDIO INC. 3/25/13 AT CARDIOID CONDENSER GOOS General Fund Municipal Buildings 133.60_
TOTAL: 133.60
ASSOCIATION OF MN EMERGENCY MANAGERS 3/25/13 2013 AMEM NNUAL DUES General Fund Public Works 35.00_
TOTAL: 35.00
BLANCHARD CATERING, INC. 3/25/13 LUNCH FOR GARDEN FAIR Southshore Communi Senior Community Cente 382.92
3/25/13 COLDWELL BANKER BURNETT BK Southshore Communi Senior Community Cente 893.68_
TOTAL: 1,276.60
CARGILL DEICING TECHNOLOGY 3/25/13 DE ICER General Fund Ice & Snow Removal 2,277.10
3/25/13 DE ICER General Fund Ice & Snow Removal 2,333.61_
TOTAL: 4,610.71
CARQUEST AUTO PARTS 3/25/13 PLOW LIGHTS General Fund Public Works 121.24
3/25/13 FILTERS General Fund Public Works 16.11
3/25/13 WIPER BLADES General Fund Public Works 13.00
3/25/13 BLADE General Fund Public Works 22.71_
TOTAL: 173.06
CENTURY LINK 3/25/13 952-474-7635-SOUTHSHORE CO Southshore Communi Senior Community Cente 125.76
3/25/13 612-E45-1785 Water Utility Water 315.39
3/25/13 612-E45-8019 Water Utility Water 236.43_
TOTAL: 677.58
CITY OF CHANHASSEN 3/25/13 01505-002- ACCT SVC ADDRES General Fund Park Maintenance 37.91_
TOTAL: 37.91
CLASSIC CLEANING COMPANY 3/25/13 C.H. SVC General Fund Municipal Buildings 529.03
3/25/13 P.W. SVC General Fund Public Works 315.28_
TOTAL: 844.31
COMMUNITY REC RESOURCES 3/25/13 GARDEN FAIR EXP-DOLLAR TRE Southshore Communi Senior Community Cente 15.02
3/25/13 GARDEN FAIR EXP-BED BATH B Southshore Communi Senior Community Cente 196.82
3/25/13 GARDEN FAIR EXP-HOME GOODS Southshore Communi Senior Community Cente 50.39
3/25/13 GARDEN FAIR EXP-LUNDS Southshore Communi Senior Community Cente 23.80
3/25/13 MAR CONTRACT Southshore Communi Senior Community Cente 5,000.00_
TOTAL: 5,286.03
EFTPS - FEDERAL W/H 3/12/13 FEDERAL W/H General Fund NON-DEPARTMENTAL 3,987.46
3/12/13 FICA W/H General Fund NON-DEPARTMENTAL 2,726.20
3/12/13 MEDICARE W/H General Fund NON-DEPARTMENTAL 637.59
3/12/13 FICA W/H General Fund Administration 371.73
3/12/13 MEDICARE W/H General Fund Administration 86.95
3/12/13 FICA W/H General Fund Finance 231.03
3/12/13 MEDICARE W/H General Fund Finance 54.03
3/12/13 FICA W/H General Fund Planning 285.57
3/12/13 MEDICARE W/H General Fund Planning 66.78
3/12/13 FICA W/H General Fund Protective Inspections 178.78
3/12/13 MEDICARE W/H General Fund Protective Inspections 41.82
3/12/13 FICA W/H General Fund Public Works 649.17
3/12/13 MEDICARE W/H General Fund Public Works 151.85
3/12/13 FICA W/H General Fund Ice & Snow Removal 285.65
03-21-2013 10:50 AM C O U N C I L REPORT BY VENDOR- MARCH 25, 2013 PAGE: 2
VENDOR SORT KEY DATE DESCRIPTION FUND DEPARTMENT AMOUNT_
3/12/13 MEDICARE W/H General Fund Ice & Snow Removal 66.81
3/12/13 FICA W/H General Fund Park Maintenance 156.52
3/12/13 MEDICARE W/H General Fund Park Maintenance 36.60
3/12/13 FICA W/H General Fund Recreation 287.77
3/12/13 MEDICARE W/H General Fund Recreation 67.29
3/12/13 FICA W/H Southshore Communi Senior Community Cente 14.58
3/12/13 MEDICARE W/H Southshore Communi Senior Community Cente 3.41
3/12/13 FICA W/H Water Utility Water 84.39
3/12/13 MEDICARE W/H Water Utility Water 19.73
3/12/13 FICA W/H Sanitary Sewer Uti Sewer 95.50
3/12/13 MEDICARE W/H Sanitary Sewer Uti Sewer 22.33
3/12/13 FICA W/H Recycling Utility Recycling 1.62
3/12/13 MEDICARE W/H Recycling Utility Recycling 0.38
3/12/13 FICA W/H Stormwater Managem STORMWATER MANAGEMENT 83.89
3/12/13 MEDICARE W/H Stormwater Managem STORMWATER MANAGEMENT 19.61_
TOTAL: 10,715.04
ELECTRICAL INSTALLATION & MAINTENANCE 3/25/13 STREET LIGHT REPAIR General Fund Public Works 1,225.00
3/25/13 REPLACE TIME CLOCK- CATHCA General Fund Park Maintenance 880.77
3/25/13 REPLACE PKG LOT LIGHT-BADG General Fund Park Maintenance 4,447.63_
TOTAL: 6,553.40
FLEETPRIDE TRUCK & TRAILER PARTS 3/25/13 REPLACE BRAKES DUMP TRUCK General Fund Public Works 952.86_
TOTAL: 952.86
GEORGIA KANDIKO 3/25/13 WATERCOLOR CLASSES Southshore Communi Senior Community Cente 216.00_
TOTAL: 216.00
GRAINGER, INC 3/25/13 STREET RELAMP General Fund Traffic Control/Str Li 1,405.13_
TOTAL: 1,405.13
GROUT, TWILA 3/25/13 HENN CTY NW HUB-STEP TO IT General Fund Recreation 28.60_
TOTAL: 28.60
HANSEN THORP PELLINEN OLSON, INC. 3/25/13 FEB-CTY RD 19 TRAIL Trail Capital Outl Trail Expenditures 1,716.20_
TOTAL: 1,716.20
HENN CTY INFO TECHNOLOGY DEPT 3/25/13 FEB - 800MHZ RADIO General Fund Public Works 63.60_
TOTAL: 63.60
HOMEHELP 3/25/13 TABLECLOTHES Southshore Communi Senior Community Cente 103.00
3/25/13 TABLECLOTHES Southshore Communi Senior Community Cente 42.00_
TOTAL: 145.00
ICMA RETIREMENT TRUST-302131-457 3/12/13 P/R DEDUCTS-DEFERRED COM General Fund NON-DEPARTMENTAL 1,185.96
3/12/13 P/R DEDUCTS-DEFERRED COM General Fund NON-DEPARTMENTAL 51.53_
TOTAL: 1,237.49
JOHN DEERE LANDSCAPES 3/25/13 PALLET OF ICE MELT General Fund Ice & Snow Removal 533.53_
TOTAL: 533.53
KENNEDY & GRAVEN, CHARTERED 3/25/13 RON JOHNSON LITIGATION General Fund Professional Svcs 132.10_
TOTAL: 132.10
KLM ENGINEERING INC 3/25/13 TMOBILE ANTENNA-OLD MRKT R General Fund NON-DEPARTMENTAL 1,500.00_
TOTAL: 1,500.00
03-21-2013 10:50 AM C O U N C I L REPORT BY VENDOR- MARCH 25, 2013 PAGE: 3
VENDOR SORT KEY DATE DESCRIPTION FUND DEPARTMENT AMOUNT_
LAKE MINNETONKA CONSERVATION DISTRICT 3/25/13 1ST QTR PAYMENT LEVY General Fund Council 7,917.75_
TOTAL: 7,917.75
LINK, CLARE T. 3/25/13 PARK COMMISSION 03/12 General Fund Recreation 220.00_
TOTAL: 220.00
LUBE-TECH 3/25/13 BULK LUBE'S General Fund Public Works 681.49_
TOTAL: 681.49
MALKERSON GUNN MARTIN LLP 3/25/13 JAN-GENERAL MATTERS General Fund Professional Svcs 1,850.00
3/25/13 JAN - PERSONNEL General Fund Professional Svcs 259.00
3/25/13 JAN-ADM CODE ENFORCEMENT General Fund Professional Svcs 111.00
3/25/13 JAN-SMITHTOWN TRL PROJ Trail Capital Outl Trail Expenditures 3,829.50_
TOTAL: 6,049.50
MEDIACOM 3/25/13 5375 COUNTRY CLUB RD - SSC Southshore Communi Senior Community Cente 69.95_
TOTAL: 69.95
MIDWEST MAILING SYSTEMS, INC. 3/25/13 APR NEWSLETTER POSTAGE General Fund Administration 500.00_
TOTAL: 500.00
MISC. VENDOR ICA-FOOD SHELVES 3/25/13 SIZZLE FUNDRAISER SHARE Southshore Communi Senior Community Cente 856.92
JOAN WRIGHT NORWEX 3/25/13 GARDEN FAIR REFUND Southshore Communi NON-DEPARTMENTAL 40.00
MADSEN ELECTRIC 3/25/13 REPAIR LIGHT IN ENTRY-LAMP Southshore Communi Senior Community Cente 240.24_
TOTAL: 1,137.16
MN DEPT OF REVENUE 3/12/13 STATE W/H General Fund NON-DEPARTMENTAL 1,790.52_
TOTAL: 1,790.52
MUNICI-PALS 3/25/13 MUNICI-PALS MEMBER-PANCHYS General Fund Administration 25.00_
TOTAL: 25.00
NCPERS MINNESOTA 3/12/13 UNIT #762400 MARCH LIFE IN General Fund NON-DEPARTMENTAL 32.00_
TOTAL: 32.00
OFFICE DEPOT 3/25/13 GEN SUPPLIES General Fund Administration 94.12_
TOTAL: 94.12
PARTS ASSOCIATES, INC. 3/25/13 PAINTS-HARDWARE & SUPPLIES General Fund Public Works 383.84_
TOTAL: 383.84
PAZANDAK, JOSEPH 3/25/13 FURNACE FILTERS General Fund Municipal Buildings 13.37
3/25/13 JAN-FEB MILEAGE General Fund Protective Inspections 366.85
3/25/13 BLDG CODE SEMINAR JAN 16-1 General Fund Protective Inspections 360.00
3/25/13 TREE INSPECT'S CERT General Fund Protective Inspections 30.00
3/25/13 EROSION CONTROL INSPECT'S General Fund City Engineer 130.00_
TOTAL: 900.22
PERA 3/12/13 P/R DEDUCTS-PERA General Fund NON-DEPARTMENTAL 2,779.57
3/12/13 P/R DEDUCTS-PERA General Fund Administration 439.38
3/12/13 P/R DEDUCTS-PERA General Fund Finance 287.21
3/12/13 P/R DEDUCTS-PERA General Fund Planning 386.40
3/12/13 P/R DEDUCTS-PERA General Fund Protective Inspections 252.20
3/12/13 P/R DEDUCTS-PERA General Fund Public Works 803.90
3/12/13 P/R DEDUCTS-PERA General Fund Ice & Snow Removal 359.72
3/12/13 P/R DEDUCTS-PERA General Fund Park Maintenance 201.74
03-21-2013 10:50 AM C O U N C I L REPORT BY VENDOR- MARCH 25, 2013 PAGE: 4
VENDOR SORT KEY DATE DESCRIPTION FUND DEPARTMENT AMOUNT_
3/12/13 P/R DEDUCTS-PERA General Fund Recreation 147.14
3/12/13 P/R DEDUCTS-PERA Southshore Communi Senior Community Cente 17.05
3/12/13 P/R DEDUCTS-PERA Water Utility Water 105.61
3/12/13 P/R DEDUCTS-PERA Sanitary Sewer Uti Sewer 120.27
3/12/13 P/R DEDUCTS-PERA Recycling Utility Recycling 1.89
3/12/13 P/R DEDUCTS-PERA Stormwater Managem STORMWATER MANAGEMENT 101.76_
TOTAL: 6,003.84
PITNEY BOWES GLOBAL FIN. SVCS., LLC 3/25/13 QUATERLY POSTAGE RENTAL General Fund Municipal Buildings 243.94_
TOTAL: 243.94
SKEIE, PATRICK 3/25/13 COUNCIL VIDEO DELIVERY General Fund Administration 180.00_
TOTAL: 180.00
SPRINT 3/25/13 SVC 02/13-03/12 Water Utility Water 62.16
3/25/13 SVC 02/13-03/12 Sanitary Sewer Uti Sewer 62.15_
TOTAL: 124.31
TWIN CITY WATER CLINIC 3/25/13 FEB COLIFORM Water Utility Water 100.00_
TOTAL: 100.00
UNITED LABORATORIES 3/25/13 DETERGENTS General Fund Public Works 373.22_
TOTAL: 373.22
VALLEY-RICH CO., INC. 3/25/13 EMERGENCY WATERMAIN BREAK Water Utility Water 3,701.06
3/25/13 EMERGENCY WATERMAIN BREAK Water Utility Water 8,834.62_
TOTAL: 12,535.68
WARNER CONNECT 3/25/13 HP PRO 3500 G8600 DESTOP Equipment Replacem Equipment Replacement 525.66_
TOTAL: 525.66
WELLS FARGO HEALTH BENEFIT SVCS 3/12/13 P/R DEDUCTS-HSA General Fund NON-DEPARTMENTAL 1,363.05_
TOTAL: 1,363.05
WM. MUELLER & SONS, INC. 3/25/13 SAND-DEICING General Fund Ice & Snow Removal 1,877.35_
TOTAL: 1,877.35
XCEL ENERGY 3/25/13 5655 MERRY LANE General Fund Park Maintenance 11.24_
TOTAL: 11.24
ZEE MEDICAL SERVICE 3/25/13 FIRST AIDS General Fund Public Works 67.20_
TOTAL: 67.20
**PAYROLL EXPENSES 3/11/2013 - 99/99/9999 General Fund Administration 6,060.39
General Fund Finance 3,961.50
General Fund Planning 5,329.64
General Fund Protective Inspections 3,478.60
General Fund Public Works 11,088.10
General Fund Ice & Snow Removal 4,961.78
General Fund Park Maintenance 2,782.64
03-21-2013 10:50 AM C O U N C I L REPORT BY VENDOR- MARCH 25, 2013 PAGE: 5
VENDOR SORT KEY DATE DESCRIPTION FUND DEPARTMENT AMOUNT_
**PAYROLL EXPENSES General Fund Recreation 4,641.38
Southshore Communi Senior Community Cente 235.17
Water Utility Water 1,456.78
Sanitary Sewer Uti Sewer 1,658.95
Recycling Utility Recycling 26.13
Stormwater Managem STORMWATER MANAGEMENT 1,403.65_
TOTAL: 47,084.71
=============== FUND TOTALS ================
101 General Fund 95,761.45
403 Equipment Replacement 525.66
406 Trail Capital Outlay 5,545.70
490 Southshore Community Ctr. 8,526.71
601 Water Utility 14,916.17
611 Sanitary Sewer Utility 1,959.20
621 Recycling Utility 30.02
631 Stormwater ManagementUtil 1,608.91
--------------------------------------------
GRAND TOTAL: 128,873.82
--------------------------------------------
TOTAL PAGES: 5
#3B
MEETING TYPE
City of Shorewood Council Meeting Item
Regular Meeting
Title / Subject: Reimbursement Request for the 2012 Milfoil Treatments – Phelps Bay
Meeting Date: March 25, 2013
Prepared by: Bruce DeJong
Attachments: Reimbursement Request from the Lake Minnetonka Association
Policy Consideration: Should the City of Shorewood amend its 2013 budget to authorize payment of an
additional $1,000 for lake treatment?
th
Background: At the March 11 City Council meeting, Dick Osgood presented the Lake Minnetonka
Association’s 2013 funding request. During that discussion, it became clear that the association had not
requested the full amount allocated by the City Council the previous year. By letter, Mr. Osgood has
requested the unspent funding from 2012.
The City Council has authority to honor this request. Staff is requesting direction from the City Council.
Financial or Budget Considerations: This is an unbudgeted request in 2013.
Options:
1. Direct staff to pay $1,000 to the Lake Minnetonka Association.
2. Deny the request.
Recommendation / Action Requested: Staff recommends that the City Council provide direction in this
matter.
Next Steps and Timelines: Payment of the $7,000 allocated for 2013 will be made upon request of the
Lake Minnetonka Association.
Connection to Vision / Mission: This assists in maintaining the city’s natural resources.
Mission Statement: The City of Shorewood is committed to providing residents quality public services, a
healthy environment, a variety of attractive amenities, a sustainable tax base, and sound financial
management through effective, efficient, and visionary leadership. Page 1
CITY OF SHOREWOOD
RESOLUTION NO. 13-
A RESOLUTION AMENDING THE 2013 GENERAL FUND OPERATING BUDGET
WHEREAS
, the 2013 Budget has been adopted by the City Council; and,
WHEREAS
, the budget does not have adequate resources to provide the $7,000 that has
been allocated for 2013 milfoil treatment; and,
WHEREAS
, the Lake Minnetonka Association has requested that the City pay an
additional $1,000 that was budgeted but unspent for 2012 milfoil treatment;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SHOREWOOD AS FOLLOWS
:
1.That a Parks Maintenance budget of $7,000 for professional services is hereby
amended to $9,000 to allow $8,000 for milfoil treatment and $1,000 for the
annual deer survey.
2.That the Finance Director be directed to pay the Lake Minnetonka Association a
sum of $7,000 for 2013 milfoil treatment.
3. That the Finance Department be directed to pay the Lake Minnetonka
Association a sum of $1,000 for 2012 milfoil treatment.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF SHOREWOOD
this 25th day of
March, 2013.
ATTEST:Scott Zerby, Mayor
_______________________________
William S. Joynes, City Administrator
7A
CITY OF SHOREWOOD 5755 COUNTRY CLUB RD
PARK COMMISSION MEETING SHOREWOOD CITY HALL
TUESDAY, MARCH 12, 2013 7:00 P.M.
MINUTES
1. CONVENE PARK COMMISSION MEETING
Chair Quinlan convened the meeting at 7:00 p.m.
A. Roll Call
;
Present: Chair Quinlan; Commissioners Kjolhaug, Hartmann, Mangold, and Dietz
City Planner Nielsen
Absent: Edmondson
B. Review Agenda
Mangold moved to approve the agenda as amended: move discussion of garden at Freeman
Park before Item 4. Kjolhaug seconded the motion. Motion carried.
2. APPROVAL OF MINUTES
A. Park Commission Meeting Minutes of February 12, 2013
Commissioner Hartmann moved to approve the minutes of the February 12,
2013 meeting as amended: Under New Business: Swaggert resigned because of
a conflict in his schedule. Kjolhaug seconded the motion. Motion carried.
B. Park Summit Meeting Minutes of February 26, 2013
Commissioner Hartmann moved to approve the minutes of the February 26,
2013 meeting as written. Mangold seconded the motion. Motion carried.
3. MATTERS FROM THE FLOOR
None
7. DISCUSS POSSIBILITY OF A COMMUNITY GARDEN AT FREEMAN PARK
Mary Donahue was present to discuss the possibility of having a community garden at Freeman
Park. Quinlan noted there had been some discussion at the previous month’s meeting, and staff
was directed to research the location. Donahue discussed the importance of gardens and the need
for a garden at Freeman Park. Quinlan stated there had been discussions about whether opening
another site would take users away from existing parks. Donahue stated she is more than willing
to campaign to assure that every site is used. Nielsen stated as many as ten people are interested
for the site at Freeman Park. He believed there should be no problem filling the plots, and someone
has offered to use any that are not rented out for community food shelf donations. He discussed
the proposed size of the Freeman site which would have ten plots at 10’ x 15’. Donahue assured
they would be filled.
Quinlan asked if there is a reason why the location is the west rather than the east side. Nielsen
stated there is a tree in the middle of the site.
PARK COMMISSION MINUTES
TUESDAY, MARCH 12, 2013
6
PAGE 2 OF
Hartmann was concerned people would be parking on the garden. Donahue stated it shouldn’t be a
problem with a fence. Nielsen stated it could be parked further south of the parking lot if needed.
He stated there isn’t a plan for fencing this year, but there will be some kind of an enclosure.
Quinlan stated he envisioned a similar scenario to the other garden where we would create the
garden the first year and fence it the second year.
Mangold asked about the water access. Nielsen stated we would have Public Works fill rain
barrels the first year. Mangold stated it is important to have availability to expand and add water
access at some point. Commissioners discussed the cost of water access for the site. Donahue
stated rain barrels can certainly be used.
Quinlan asked if there are any other issues that need to be considered. Nielsen stated there was
concern at the Council level about the initial expense such as preparing the soil and compost
preparation.
Dietz agreed about the value of gardens. He asked who is using the gardens. Donahue stated there
isn’t a typical profile. She stated where she lives, they cannot have gardens. Dietz asked what the
cost is to create the site. Nielsen explained what needs to be done to create the garden and add
fencing at some point.
Commissioners discussed the location of the garden at Freeman Park. Following further
discussion, Nielsen stated staff would look at moving the location further south to address any
overflow parking concerns. He stated the availability of water on the site will also be discussed.
Quinlan suggested discussing this item again at the next meeting.
Hartmann moved to recommend putting in a garden pending further discussion at the next
meeting of additional details. Mangold seconded the motion. Motion carried.
4. APPOINT 2013 CHAIR AND VICE CHAIR
Quinlan welcomed new member Steve Dietz to the Park Commission.
Quinlan stated Commissioner Edmondson is willing to be Chair this year. He stated he is also
willing to serve.
Mangold moved to keep Steve Quinlan as Chair for 2013. Kjolhaug seconded the motion.
Motion carried.
Mangold moved to appoint Bob Edmondson as Vice Chair for 2013. Kjolhaug seconded the
motion. Motion carried.
5. RECAP OF PARK SUMMIT MEETING
Quinlan stated it sounds like there is interest in regular meetings of the Park Summit group. He
opened the floor for additional comments about the meeting. Hartmann stated it is critical to
have a joint website and cross promotion. Mangold stated it sounded like a great idea to have
a South Lake Park and Rec office at the Southshore Center. Commissioners discussed the
PARK COMMISSION MINUTES
TUESDAY, MARCH 12, 2013
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interest expressed by other cities in having quarterly meetings. Music in the Park was
discussed and moving it around to other cities. Commissioners discussed how to move
forward with any decisions made. Mangold stated we may not be as successful right away. He
suggested sub-committees be formed for issues such as a joint website. Quinlan suggested
staff investigate a domain name for the website prior to the May quarterly meeting. Nielsen
stated a composite map would be created of surrounding cities’ park locations and amenities.
Kjolhaug believed it would be a good idea to move ahead with the website. Nielsen stated he
would like to run it by the City Council first.
Dietz stated it could turn into a lot of work when there are many groups involved. Nielsen
stated he would check with staff to see what kind of effort will be involved.
Quinlan stated we need more information from Excelsior on Music in the Park.
Dietz recommended staff explore the cost and effort involved in a joint Southshore
activities website and confirm the interest of other cities. Kjolhaug seconded the motion.
Motion carried.
Mangold recommended that Shorewood participate and support the Excelsior Music in
the Park effort subject to staff getting additional details on the events and publicity
deadlines. Hartmann seconded the motion. Motion carried.
6. BADGER PARK CONCEPT SKETCHES OF BADGER PARK
Quinlan gave a background on the Badger Park Master Plan. He stated a couple of concepts
have been created based on previous discussions. Nielsen stated the first plan is an “issues”
map identifies the issues that came up during the joint meeting with the Park Commission and
City Council. It involves enhanced screening along the north side of the park, an enhanced
connection from City Hall to Southshore, an outdoor gathering space, creek crossing, the
remaining playfield and tennis courts, removal of the hockey rink and repurposing the space.
He noted the major issue is the hockey rink. He noted the TKDA concept was that the idea
was to have a civic campus. Organized sports would be shifted to Freeman Park. The TKDA
plan also showed the tennis courts moving to where the hockey rink is currently located. A
“village green” would be created where the tennis courts are currently located.
Nielsen reviewed a rough graphic showing a pedestrian corridor leading to the Southshore
Center, additional parking opportunities, the creation of a play area, picnic site with shelter, and
green area along the pedestrian corridor, change the direction of the playfields which would
create additional parking opportunities. He asked for comments from the Park Commissioners.
Quinlan stated the plan as presented is an excellent start. Nielsen discussed parking options on
the site and easier access to the Southshore Center.
Dietz asked if there is a narrative for the TKDA plan. Nielsen stated it is located in the Park
Master Plan. Dietz stated parking is not identified as an issue and asked when it became one.
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Nielsen stated it came into being when the Center was built. Quinlan stated the Center has
become more a park amenity, and its purpose has changed from a senior center to a community
center. There are more activities for kids. In response to question from Dietz about
hardcover, Nielsen discussed the hardcover policy.
Hartmann left the meeting at 8:53 p.m.
Commissioners discussed the TKDA plan vs. the plan presented this evening. Mangold
believed this plan is the best of any that has been seen. Quinlan commented on the plan’s
flexibility and room. Nielsen agreed and stated it is important that there be the connection to
the Southshore Center.
Dietz asked if art is part of the plan. Nielsen stated it is part of the TKDA plan and there is no
reason it can’t be part of this plan as well. It could happen later on or by donation. Dietz
wondered if there is a way to enhance the connection without adding a huge cost or tapping
into other funding sources. Quinlan stated we should keep the presence of future artwork in
mind when designing this site.
Kjolhaug asked what is really being connected. He didn’t understand why the movement is
needed. Mangold stated it is a safety issue. Nielsen stated it is literally trying to draw the
Southshore Center into the park as a whole and connects city hall to the Center. He stated it
also becomes part of the perimeter walk around the park. Quinlan believed there is value in
pulling in the Center to the entire park as a whole.
Kjolhaug discussed possible reorientation of the passive areas on the site and proximity to the
Southshore Center. Nielsen stated the site itself dictates the uses on the site because of the bad
soil conditions. He stated any time there is a water feature, you want to take advantage of it as
an amenity.
Kjolhaug asked if there has ever been any discussion of redevelopment of the commercial area
to the north. Nielsen stated there have been discussions about building a senior housing
development that work extremely well.
Dietz stated the water feature would be a natural attraction on the site. He suggested artwork
could be more than sculptures and more creative. Quinlan stated there have been some great
ideas raised. He suggested alternative plans be developed for future review. He also asked
that cost issues be reviewed as well. Nielsen stated staff is attempting to pare it down and keep
costs under control.
Kjolhaug stated he would like to see a hockey rink constructed to replace the one leaving
Badger Park. Nielsen discussed plans for the future of hockey rinks and possible sharing with
Tonka Bay.
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Quinlan suggested more discussion occur when the CIP is discussed later in the year. Nielsen
stated additional sketches will be brought back.
7. DISCUSS SERVING ALCOHOL IN THE PARKS FOR AN EVENT
Quinlan stated this is being brought up in light of other events occurring such as music and
movies in the parks. He suggested we discuss what the current ordinance allows. Nielsen
stated the only city property where alcohol can be served is at the Southshore Center. He
stated the Southshore Center is planning a Hoedown again this year and would like to have
alcohol sales. Quinlan recommended allowing consumption and sale for specific city-
sanctioned events. He stated Edmondson also supports. Mangold stated he does not support
it. He didn’t think there was an overwhelming benefit.
Quinlan asked what liability issues could arise. Nielsen stated he didn’t have the answers to
that question. He stated security is certainly an issue. Commissioners discussed liability issues.
He stated it would be difficult to make any recommendation without knowing any costs
involved. Dietz stated he wasn’t against allowing alcohol in the parks. Kjolhaug stated he
would think the city should review on a case-by-case basis. He believed more information is
needed for a formal recommendation. Nielsen stated more information will be provided on
liability, serving alcohol, etc.
8. DISCUSS LOCATION OF SATELLITE AT FREEMAN PARK
No discussion
9. UPDATE ON SUMMER ACTIVITIES
Quinlan reviewed activities planned for the summer in the parks and asked for any comments from
the commissioners. Nielsen stated it is for informational.
Dietz asked how many attend the outdoor movie. Nielsen didn’t recall the number.
Commissioners discussed noise as a result of the showing.
10. NEW BUSINESS
None
11. STAFF AND LIAISON REPORTS/UPDATES
A. City Council
Quinlan noted fencing for the garden was approved at the City Council meeting the previous
evening. Nielsen discussed the progress of the trail along Smithtown Road.
B. Staff
1) Financial Update
Quinlan reviewed the financial update included for review and noted we were over budget by $7000.
Nielsen stated he was not prepared to address that and would need the finance official to discuss in a
memo or at a future meeting. Nielsen discussed the funds which are earmarked for park
development. Mangold asked if there is a set policy for the hockey rink lighting. Nielsen stated
there have been some issues. He knew there were set hours. If the warming house is open, there are
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lights on. They are usually done for the season the end of February. He stated he would check it
out with the Public Works Director. It was noted there is a closed sign on the building.
2) Trails Update
No discussion
3) SSCC Update
No discussion
12. ADJOURN
Mangold moved, Kjolhaug seconded, to adjourn the Park Commission Meeting of March 12,
2013, at 9:58 p.m. Motion carried.
RESPECTFULLY SUBMITTED,
Clare T. Link
Recorder
CITY OF SHOREWOOD COUNCIL CHAMBERS
PLANNING COMMISSION MEETING 5755 COUNTRY CLUB ROAD
TUESDAY, MARCH 5, 2013 7:00 P.M.
MINUTES
CALL TO ORDER
Chair Geng called the meeting to order at 7:01 P.M.
ROLL CALL
Present: Chair Geng; Commissioners Charbonnet, Davis, Garelick, Labadie, Maddy and
Muehlberg (arrived at 7:06 P.M.); and Planning Director Nielsen
Absent: None
APPROVAL OF AGENDA
Davis moved, Garelick seconded, approving the agenda for March 5, 2013, as presented. Motion
passed 6/0.
APPROVAL OF MINUTES
February 5, 2013
Davis moved, Charbonnet seconded, approving the Planning Commission Meeting Minutes of
February 5, 2013, as presented. Motion passed 6/0.
1. 7:00 P.M. PUBLIC HEARING – ZONING CODE TEXT AMENDMENT TO
ESTABLISH A SYSTEM FOR ZONING PERMITS
Chair Geng opened the Public Hearing at 7:02 P.M., noting there were no members from the public in
the audience this evening.
Director Nielsen explained the topic of zoning permits came up in 2010 when Staff brought the idea up.
Zoning permits would be for various activities that are regulated by the City’s Zoning Code (the Code)
but not covered by building permits. The best example is a driveway. There are setback and hardcover
requirements for driveways, but a permit is not needed to construct one. In 2010 the then Planning
Commission recommended, on a 4/2 vote, Council adopt an ordinance amendment to establish a system
for zoning permits for eight activities. When Council considered the proposed amendment there was
some concern about micromanaging. The amendment failed for lack of a motion.
During a June 11, 2012, joint meeting of Council and the Planning Commission Council agreed to
reconsider an ordinance establishing zoning permits for various activities. During that meeting there was
discussion about adding some additional activities to the list. As part of its review of the General
Provisions Section of the Zoning Code the Commission decided to add five more activities to the zoning
permits list.
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Nielsen provided the Commissioners with a copy of the City of Chanhassen’s zoning permit brochure.
He noted Staff fully intends to use it as a model for a brochure for Shorewood. Although Chanhassen’s
brochure explains what zoning permits are about, the more important information included is about the
value of zoning permits to residents. It explains that once a zoning permit is complete and approved the
documents are placed in the property’s building file. There is a record that the property owner has
complied with code.
Nielsen stated when a person applies for a zoning permit they will be informed of what the requirements
are. He cited an instance where a property owner installed a driveway that ended up being partially on
the abutting property. That was an expensive problem to correct. That problem could have been avoided
if they would have had to apply for a zoning permit.
Nielsen read through the list of the thirteen activities that are proposed to require a zoning permit. They
are as follows.
1. Accessory buildings less than 120 square feet in floor area
2. Fences
3. Driveways
4. Temporary signs
5. Sport and tennis courts
6. Patios and sidewalks
7. Retaining walls higher than three feet (no separate permit required when a building permit is
required for grading)
8. Above-ground fireplaces and cooking facilities (not including portable appliances)
9. Irrigation systems
10. Playground equipment or systems occupying more than 64 square feet of ground area or
exceeding six feet in height
11. Underground animal control fences
12. Tents and canopies erected for more than two weeks in a 12-month period
13. Portable storage facilities not associated with a valid building permit and located on property
for more than 30 days in a 12-month period
Nielsen noted that Staff recommends approval of the proposed ordinance amendment.
Seeing no one present wishing to comment on this matter, Chair Geng opened and closed the Public
Testimony portion of the Public Hearing at 7:12 P.M.
Commissioner Garelick stated he thought the zoning permits system will help make property owners
accountable. He then stated based on what he knows if a municipality does not require zoning permits
the value of properties decline.
Commissioner Davis asked if activity 12 is intended to prohibit car ports. Director Nielsen noted
permanent car ports would be subject to a building permit. Davis then asked if these will be enforced on
a complaint basis. Nielsen explained the City does not go looking for this stuff. The City’s policy has
been passive enforcement. Davis then asked what complaints the City has received in the last two years
that would have been covered by the activities proposed to be covered by zoning permits. Nielsen
responded driveways are the biggest problem. Nielsen stated the City has been trying to deal with fences
with building permits, while noting that technically the Building Code doesn’t cover fences unless they
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are six feet tall or taller. Temporary signs have been addressed under the Building Code as well, while
noting there is nothing in the Building code that relates to temporary signs.
Director Nielsen explained there was a situation where a person took out their deck to bring their
hardcover into conformance. When that person applied for a permit a few years later for something else
Staff found out that person constructed a patio where the deck had been. That person explained that
because the patio didn’t require a permit it must have been okay to put a patio in. The person had to take
the patio out because of being over the hardcover limits. He stated it is one thing when the violating
property owner is caught for violating something. But, it’s another thing when the new property owner
who had nothing to do with the violations has to suffer the consequences. He explained the City has not
received many complaints about playground systems. He was aware of a situation where part of an
irrigation system was installed on the wrong property. There have been instances where animal control
fences have crossed over property lines. More and more cities are addressing the issue of tents and
canopies (portable structures). There have been two incidences of portable storage facilities being on
properties for a long time.
Commissioner Maddy asked what a property owner has to do to prove where their lot lines are. Director
Nielsen explained in some cases it is as easy as looking up a property’s survey at City Hall. Most new
properties or properties where something has been done have a survey on file with the City. Other times
a property owner will have to locate their property stakes. There are also times where a person has to
hire a surveyor to locate the lot lines.
Commissioner Davis explained that she and her husband don’t do anything without first having the City
Building Inspector out to talk about it.
Commissioner Garelick stated not long ago there was an issue discussed about excessive noise being
generated by a property owner and his family who drive recreational motorized vehicles on that
property. He asked if there was any way to possibly address that type of problem through zoning.
Director Nielsen explained the City is still working on that issue from a land use perspective, and that the
issue has nothing to do with the proposed zoning permits system.
Commissioner Charbonnet asked if there should be something about [driving] tracks in zoning permits.
Director Nielsen stated the City does not allow them.
Davis moved, Garelick seconded, recommending approval of the Zoning Code text amendment
relative to zoning permits. Motion passed 7/0.
Director Nielsen stated this item will be placed on Council’s March 25, 2013, meeting agenda for further
review and consideration. He explained that normally zoning items are considered by Council during its
second meeting of the month unless there is some urgency. The reason for that is to ensure the related
Planning Commission’s meeting minutes are available for Council to read so they are privy to the
conversation.
Commissioner Davis asked if the City’s zoning permit brochure will be ready for the spring season.
Director Nielsen responded it will be. Davis then asked if the permit fee will be $20 as the Planning
Commission had discussed. Chair Geng explained that during Council’s February 11, 2013, meeting
there was discussion about possibly having a graduated fee. Geng stated he thought the fee amount is
something Council will want to deal with. Nielsen noted the minimum permit fee is $20. Davis stated
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some of the activities for which zoning permits are proposed are relatively simple things while some are
more involved (e.g., a driveway). Davis then stated she thought a graduated fee is a good idea.
Commissioner Muehlberg stated he thought a $20 fee is fairly insignificant.
Director Nielsen stated these proposed activities that would require a zoning permit will probably require
one inspection. He then stated if it turns out the $20 fee is not enough based on the amount of staff time
taken staff can propose an increase in the fee. He noted he thought $20 was an appropriate place to start.
Commissioner Labadie cautioned against making the zoning permit fee cost prohibitive. That could
encourage people to try and circumvent what the City is trying to establish. She stated she understands the
concept of the graduated fee and why it may make sense, but she thought it could be a little tricky. She
expressed her preference for keeping the fee low.
Chair Geng closed the Public Hearing at 7:29 P.M.
2. DISCUSSION
Trail Implementation Process
Director Nielsen stated his memorandum on this topic indicated that he planned on providing the
Planning Commission with a revised trail implementation process outline for discussion this evening. He
noted that he does not have that done. He stated instead he is going to talk about the issues with the
current process that was included in the Trail Implementation Plan when the Park Commission was still in
charge of the trails.
Nielsen explained the first step in a trail implementation process is to identify what trails are up for
consideration in a particular year. The next step is to assess the characteristics of the area and connections
to other trails, to identify the type and width of the trail, and in some cases what side of the road it should
be on. That information would help direct the engineers in the trail feasibility study.
Nielsen then explained the trail walk identified in the original process was intended to get residents in an
area of a future trail to come and provide input on issues with the given route. Residents did not get
involved during the Smithtown Road (west) Trail [from the Shorewood/Victoria border to the
Minnewashta Elementary School and then on to the Lake Minnetonka Light Rail Trail at Eureka Road]
project walk/ride. The walk/ride was a valuable exercise for the Planning Commissioners. Therefore, a
trail walk/ride will be one of the steps in the revised process but it will not include the public. Instead,
public involvement would be gained through a neighborhood open house event. That proved valuable for
the Smithtown Road (west) Trail. There was information available for residents that in many cases
answered their questions. The open house format makes it easy to deal with individuals or small groups of
residents. It allows residents to be flexible as to when they come to it. Therefore, it is proposed that an
open house be part of the process.
Nielsen noted that the County Road 19 Trail (from the existing sidewalk in front of the Tonka Village
Shopping Center in the City of Tonka Bay north along the east side of County Road 19 to the Lake
Minnetonka Light Rail Trail (LRT) Trail) and the Smithtown Road (west) Trail are both scheduled to start
in June and be completed in 2013. He stated that obtaining the needed easements for both of those
projects took a significant amount of time. Therefore, a significant about of time needs to be built into the
process for property acquisition. He then stated Council was recently provided with a somewhat detailed
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project schedule for the Smithtown Road (west) Trail. He recommended a similar schedule be added to
the process for all trails. He noted the engineers told Staff that the feasibility study for a trail would be far
more useful and accurate if the survey was conducted before the feasibility study was conducted. He
stated that will be suggested in the process.
Nielsen stated the City has been approved for a grant through Hennepin County along with the City of
Excelsior to help pay for a feasibility study for the Mill Street trail segment. He noted that will occur on
the County’s schedule; the County will be ordering the study. Staff assumes the County will do the
necessary survey work.
Nielsen noted that is all he has on this topic this evening.
Zoning Code – General Provisions
Director Nielsen stated the Planning Commission began reviewing the General Provisions section of the
Zoning Code in 2012. During the review it identified a few items that need further study and those are
included in the Commission’s 2013 work program. He then stated some portions of that Section had been
reviewed in detail a few years before that so there was little if any review needed (e.g., Subd. 11 Signs).
He explained under Subd. 10 Essential Services underground and overhead electric transmission lines
require a special permit. Xcel Energy is proposing upgrading the transmission line to a high powered
voltage line, part of which would be located in the City. In accordance with the City’s Ordinance that
would require a conditional use permit from the City. Staff has been told by some attorney that the State
does not have to do that. He stated he will consult with the City’s attorney to find out if the Essential
Services section should be amended to reflect reality.
Nielsen stated Subd. 12 Home Occupations is an ordinance that has served the City very well. He
explained there are basically two types of home occupation – limited home occupation and special home
occupation. The limited home occupation is a quiet use and does not require a permit. A special use
occupation requires a conditional use permit. That occupation may have equipment that the business uses
that is not specific to a residential property. It has up to one employee that comes to the property. There
may be clients that come to the site. He stated the City has a list of questions that would help a resident
determine which type of occupation they have.
Nielsen noted Subd. 13 Flood Plain Development is up to date. Subd. 14 Regulations Applicable to
Shoreline Property was reviewed about three years and some changes were made relative to docks. That
ordinance is also up to date.
Nielsen stated Subd. 18 Solar Access indicates it is reserved for future use. To date solar access has not
been an issue. There are residents who have solar panels on their homes and they have not violated the
City Code. He noted the Planning Commission’s 2013 work program includes the study of wind
generators. Council suggested the Commission also discuss solar at the same time because it is an
alternative energy.
Nielsen then stated at one time fire lanes were a big issue. Subd. 19 Fire Lanes has resolved that and it has
been working very well.
Nielsen noted the Planning Commission’s 2013 work program includes a study of elderly housing (Subd.
20). Allowable density will be part of the study. As will discussion of how various types of elderly
housing are viewed.
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Nielsen stated Subd. 21 Telecommunications Towers and Facilities has been working well. There are not
many, if any, new requests for towers. Current cellular providers do make requests to change out
equipment and this ordinance already addresses that.
Nielsen noted the Planning Commission’s 2013 work program includes a study of residential zoning
districts.
Galpin Lake Road and Mill Street Trails
Director Nielsen noted the Galpin Lake Road trail segment (between Highway 7, at County Road 19, and
the City of Chanhassen) and the Mill Street trail segment (between Chanhassen and the City of Excelsior)
are indicated as first-phase priority in the Trail Implementation Plan. They are scheduled for 2014. They
are the next two segments identified (after The Smithtown Road and County Road 19 segments) in the
Capital Improvement Program (CIP).
With regard to the Mill Street segment, Nielsen explained Chanhassen has a bituminous trail that stops at
its border with Shorewood (Holly Lane). Excelsior has a sidewalk that crosses a bridge over Highway 7
and ends at Wheeler Drive. Excelsior is looking at doing the segment in between. He stated there should
be some money available for this trail segment because it is found on Hennepin County’s Bicycle Gap
Map which identifies where bicycle routes stop but should be connected.
With regard to the Galpin Lake Road segment, Nielsen explained the City will try to get some help from
the Minnesota Department of Transportation (MnDOT) for the portion that would go along Highway 7.
MnDOT built a segment of trail in Excelsior in 1991 that goes from County Road 19 near some
apartments in Excelsior. Excelsior got money because it does not receive any Municipal State Aid (MSA)
construction funds. Shorewood does receive MSA funds so it would probably not get that benefit.
Nielsen explained that the Mill Street segment would be confined to the County right-of-way (ROW). The
concrete sidewalk in Excelsior that comes across the bridge is only four feet wide. The trail in
Chanhassen is eight feet wide and is bituminous. He noted that during the Trail Implementation Plan
project there was discussion about having a six-foot-wide bituminous surface standard for trail segments.
He then noted the City asked for quotes for both a bituminous trail and a concrete trail for the County
Road 19 trail/sidewalk to compare costs. The Smithtown Road (west) Trail will be concrete to be
consistent with the City of Victoria trail it will connect to. He stated it would be nice if the Mill Street
segment could accommodate bicyclists and pedestrians; that would require at least an eight-foot-wide
surface.
Chair Geng asked if there is any flexibility with Excelsior. Director Nielsen stated he is not sure there is
much flexibility with the sidewalk that goes over the bridge, and it is unlikely Excelsior would want to
narrow the traffic lanes to make the sidewalk wider. Excelsior may consider widening the trail on the
south side of Highway 7 if the Shorewood trail segment ends up being eight feet wide. Nielsen noted that
Excelsior has not committed to constructing a portion of the Mill Street segment. Geng then asked
Nielsen if he anticipates Shorewood will go forward with its portion of the Mill Street segment even if
Excelsior does not go forward with its segment. Nielsen stated he would expect so and explained the
committee who developed the Trail Implementation Plan had no indication that Excelsior would construct
the segment at that time.
Director Nielsen stated there appears to be a fair amount of support from the residents near the two
possible trail areas.
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Commissioner Davis stated she understands the Galpin Lake Road trail segment coincides with a roadway
project. She suggested that the roadway improvement plans be reviewed when considering trail segments
to find out if there are opportunities to do roadway and trail projects at the same time.
Director Nielsen noted that there will not be a new crossing at Highway 7 for the Galpin Lake Road trail
segment. People would have to go to the existing crossing.
Nielsen explained the Chanhassen trail on the west side of the road is an eight-foot-wide bituminous
surface that stops at the Pleasant Avenue boundary with Shorewood. The section that would go through
Shorewood is approximately one-half mile long. The segment that goes along Highway 7 would mirror
the section constructed in Excelsior several years ago. He thought it is ten feet wide. There is a guard rail
on the Highway 7 side. Because the land drops off, there is a retaining wall and fence on the lake side. He
commented that it will be an expensive segment of trail to build.
Chair Geng asked if the City could avoid the cost of a retaining wall if the trail segment were constructed
on the east side. Director Nielsen clarified he is talking about the segment along Highway 7.
Director Nielsen stated when there is question as to which side of a roadway a trail segment should be
constructed on Staff recommends the survey include the ROW on both sides. The survey information can
be used for other projects as well.
Chair Geng asked if staff anticipates ROW issues. Director Nielsen stated not on the Mill Street segment
because Hennepin County has 66 feet of ROW. Nielsen then stated the City’s ROWs are typically less
than those on County roads. The City’s standard ROW is fifty feet.
Chair Geng asked Director Nielsen what he is looking for from the Planning Commission this evening.
Director Nielsen stated he needs suggestions about which side the trail segment should go on.
Director Nielsen recommended the Mill Street trail segment match the Chanhassen trail going north as a
starting point. It would be an eight-foot-wide bituminous surface. He stated that would make for a bike
route for the City’s residents as they go south. He thought it makes sense to have the trail on the east side
of the roadway unless there are issues that make that difficult.
Chair Geng suggested the Planning Commission walk the two proposed trail sites in April, noting they are
each approximately one half mile long.
Director Nielsen stated he will find out if Hennepin County will pay for the survey work for the Mill
Street trail segment.
Commissioner Muehlberg stated the area is very tight for a trail the closer it would get to Excelsior.
Director Nielsen agreed.
Commissioner Labadie asked if Hennepin County awards a certain number of grants per year. Director
Nielsen stated it has awarded them annually.
Director Nielsen stated the feasibility studies for the Mill Street and Galpin Lake Road trail segments will
be done in 2013 and the easement acquisition process, if needed, will begin this fall. He noted that
constructing trail segments will come down to funding. He explained the Smithtown Road (west) Trail is
to a large degree being funded out of the City’s Infrastructure Fund and with some MSA funds. The City
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will try to secure a grant from the Safe Routes to Schools program, but competition is tight for those
rd
funds. He stated during the Council and staff retreat on March 23 there will be discussion about how to
fund various City projects. He noted the City has had a zero tax levy increase for the last few years.
Therefore, the City is not setting money aside for projects like these.
Commissioner Davis asked where she can find a copy of the map reflecting when the various roadways in
the City will be reconstructed.
Director Nielsen recommended that, for the section of the Galpin Lake Road trail segment, it could run
parallel to the highway mirroring what Excelsior did several years ago. It would be ten feet wide if that
were done. Chanhassen’s trail on the west side is eight-feet-wide bituminous. He stated there has been
discussion about possibly breaking the Galpin Lake Road trail segment into two parts with the first being
the portion along the Highway 7 segment from Oak Street to Galpin Lake Road. That could be done if
money dictated that.
Nielsen stated the City has a four or five foot sidewalk along a portion of Lake Linden Drive on the west
side. He stated he thought it would be relatively inexpensive to continue the sidewalk up to the north side
of the Highway 7 and Highway 41 intersection. People could cross Highway 7 to get to the Chanhassen
trail system. He noted the City’s goal is to be part of the Chanhassen trail system.
Nielsen told the Planning Commission that the Three Rivers Park District (TRPD) is going to build an
overpass in the area where the LRT Trail intersects with County Road 19. The details on the overpass
have not been finalized.
Chair Geng noted the City has been awarded an $18,000 grant from Hennepin County to help pay for the
construction of the County Road 19 trail segment. Director Nielsen added that it was a Hennepin County
sidewalk grant.
Director Nielsen reviewed options the TRPD is considering for the overpass ramps and their locations,
noting that has not been finalized. He stated he will get the Planning Commission more information on
the overpass.
Chair Geng asked why the TRPD would not build a stairway for walkers.
Commissioner Davis stated she thought the current LRT crossing is more dangerous for bicyclists than
pedestrians.
Director Nielsen stated he thought the island that was constructed at the intersection has helped with
safety. He asked the Planning Commission if they have any additional comments about the Mill Street
and Galpin Lake Road trail segments. Commissioner Davis asked Nielsen what he wants from the
Commission, noting she did not think any of the Commissioners oppose the two segments. Nielsen
responded that thoughts about the width would be helpful. Davis suggested building whatever can get
built. Nielsen suggested the Commission make a better recommendation than that. Nielsen reiterated his
recommendation that the Mill Street segment accommodate bicyclists and pedestrians and that means at
least an eight-foot-wide trail. That is not necessarily essential for the Galpin Lake Road segment. Davis
said the standard is eight feet wide and suggested that be adhered to when possible. Nielsen clarified there
is no standard, and that the starting point is a six-foot-wide bituminous surface. Davis clarified in the
industry the standard is an eight-foot-wide bituminous surface.
CITY OF SHOREWOOD PLANNING COMMISSION MEETING
March 5, 2013
Page 9 of 12
There was ensuring discussion about where the crossing for the Galpin Lake Road segment should be.
Chair Geng stated he would like to see a survey of the proposed trail segment before the Planning
Commission walks the areas. Commissioner Davis concurred with that.
Commissioner Davis stated if Galpin Lake Road is going to have to be surveyed for roadway
improvement work in the next few years she asked if the survey could be done ahead of time and then be
used for the trail project. Chair Geng stated the timetable for roadway improvements may not mesh with
the timetable for the trail project. Director Nielsen stated a survey won’t go bad, and supported suggesting
the roadway survey work be done as soon as possible so the trail project can use it.
Director Nielsen stated the surveyors will likely suggest the survey not be done until after the snow has
melted.
3. 2013 WORK PROGRAM
Nielsen reviewed his list of items in the 2013 Planning Commission work program and explained each
one briefly.
• Zoning Code Study / General Provisions – with the exception of elderly housing this is basically
done
• Noise Ordinance – because the draft ordinance was not done for this meeting it was pushed out to
April
• Update Trail Implementation Process – that will be presented to the Planning Commission in
outline form for discussion during its April meeting. Because the Trail Implementation Plan is
part of the City’s Comprehensive Plan, it may require a public hearing. If a hearing is required
that would be held in May.
• Smithtown Crossing – What is next? – discuss in May
• Trail Plan / Galpin Lake Road Trail – start discussion in March. Based on the updated Trail
Implementation Plan process the work program will be updated to reflect the steps in the process.
• Trail Plan / Mill Street Trail – start discussion in March. Based on the updated Trail
Implementation Plan process the work program will be updated to reflect the steps in the process.
• Zoning Code Study / Zoning Permits – the public hearing was held in March and it will go before
th
Council during its March 25 meeting.
• Zoning Code Study / Wind Generators – start in April
• Zoning Code Study / Life Cycle Housing (elderly housing) – start the discussion in May. If there
are changes recommended a public hearing would be scheduled for June or July.
• Comprehensive Plan / Planning District 6 – starting in July revisit the study done a few years ago
and refine the process to be followed
• Annual Variance Discussion – September
• Comprehensive Plan / Policies Relating to Variances and Nonconformities – start discussion in
September
• Zoning Code Study / Residential Districts – start discussion in July
• Sustainability / Minnesota GreenStep – no timeframe
Nielsen noted he will provide the Planning Commission with a copy of the revised work program.
Nielsen asked the Planning Commissioners if there is anything they would like added to the work
program at this time.
CITY OF SHOREWOOD PLANNING COMMISSION MEETING
March 5, 2013
Page 10 of 12
Commissioner Garelick asked if there is any type of joint meeting with other planning commissioners
planned. Director Nielsen responded not specifically, but that topic did come up at the GTS (Government
Training Service) training session hosted by the City of Greenwood earlier in the year for people in the
South Lake area. Nielsen noted the City hosted a “park summit” for park representatives in the South
Lake area last month. That went over well and there was consensus to do that on a quarterly basis.
Nielsen stated he thought the training session is the best opportunity to interact with other planning
representatives and council representatives in the South Lake area.
Director Nielsen noted there are training opportunities for Planning Commissioners and that the City will
pay for them to attend. He stated he will get that information to the two new Commissioners.
Commissioner Muehlberg asked what the different options would be for Planning District 6. Director
Nielsen explained that some of the odd zoning is on the south side of County Road 19 in the C-2
Commercial Service zoning district. The plan has been for that zoning to go away on the south side and to
expand the existing R-C Residential Commercial zoning district where the South Lake Office Building is
located. The R-C district would extend to the Garden Patch property. Nielsen then explained the
properties on the north side of County Road 19 are different because they front Lake Minnetonka. The
owners of those properties want to be able to do something with their properties that will capture the
value of their properties. He noted the access to the properties crosses the LRT Trail. The property owners
only have a license to do that; there is no permanent easement and the right-of-way doesn’t cross. He
explained the Hennepin County Regional Rail Authority (HCRRA) could decide to make them stop using
that access. If that were to happen the only way to get to the properties would be through the City of
Excelsior along a small residential street. He stated nothing about those properties lend themselves to a
high-intensity use there. Staff had suggested that on the Lake Minnetonka Dredging Company property it
could maybe accommodate twelve twin-home or town-house units. The property owners were not
supportive of lower intensity uses. The residents to the west of those properties did not want to see
anything change and he thought that was because they did not understand things.
4. MATTERS FROM THE FLOOR
There were no matters from the floor presented this evening.
5. OLD BUSINESS / NEW BUSINESS
Appoint Chair and Vice-Chair for 2013
Davis moved, Garelick seconded, recommending the appointment of Thomas Geng to the position
of Planning Commission Chair for 2013. Motion passed 7/0.
Geng moved, Muehlberg seconded, recommending the appointment of Sue Davis to the position of
Planning Commission Vice-Chair for 2013. Motion passed 7/0.
Determine City Council Liaison Schedule for 2013
Chair Geng explained the Council Liaisons are selected to attend the two regular Council meetings in the
month they are designated as the Liaison. The role is to observe what goes on during the meeting that may
be of interest to the Planning Commission and to pass that along to the Commission during its next
meeting. The Liaison also reports to Council on the Planning Commission’s most recent meeting.
CITY OF SHOREWOOD PLANNING COMMISSION MEETING
March 5, 2013
Page 11 of 12
Council Liaisons were selected as followed:
March 2013 Commissioner Davis
April 2013 Commissioner Geng
May 2013 Commissioner Charbonnet
June 2013 Commissioner Muehlberg
July 2013 Commissioner Maddy
August 2013 Commissioner Garelick
September 2013 Commissioner Labadie
There was Planning Commission consensus to continue to schedule the Commission meeting for the third
Tuesday of the month if the first Tuesday of the month falls on a holiday or the day after a holiday. That
th
means the September meeting will be scheduled for September 17.
Commissioner Charbonnet stated he read a newspaper article recently about private fire hydrants not
being properly maintained. He asked if there are any private hydrants in Shorewood. Director Nielsen
explained there are two of them out on the islands in Shorewood. Residents were assessed for the cost of
doing that. When they tried to use one of them it failed. Chair Geng clarified those are dry hydrants and
dry hydrants take water out of Lake Minnetonka. Nielsen stated it is hard to maintain the dry hydrants.
Nielsen explained the Mound Fire Department [which provides fire service to the islands] supported
installing the dry hydrants. He stated dry hydrants are not a great idea. He then stated the fire department
doesn’t rely on lake water anymore; it has tanker trucks. He then stated there are no other private fire
hydrants in the City. Charbonnet explained the gist of the article was property owners were not aware
they are responsible for maintaining the hydrants.
6. DRAFT NEXT MEETING AGENDA
Director Nielsen stated the next Planning Commission meeting is scheduled for April 2, 2013. During that
meeting there will be discussion about a noise ordinance, the trail implementation process and wind
generators. He then stated he would cook brats for the Commission prior to the meeting. Commissioner
st
Charbonnet stated his children will be on spring break the week of April 1 so he may be out of town for
the next meeting.
7. REPORTS
• Liaison to Council
Chair Geng gave a brief report on the February 11, 2013, and the February 25, 2013, City Council
meetings about items related to the Planning Commission (as detailed in the minutes for those meetings).
• SLUC
Director Nielsen stated the March 27, 2013, Sensible Land Use Coalition (SLUC) program is titled When
Does Government Policy Trump Property Rights? It will be point/counterpoint debate of the tension
between public interest and individual rights in the land use arena. He provided a little background on
SLUC. He noted that the City will pay the fee for Planning Commissioners to attend SLUC programs. He
stated he will probably have the City purchase the video recording of the program. He asked the
Commissioners to let him know in the next day or two if they want to attend. Commissioner Davis stated
she wants to attend.
CITY OF SHOREWOOD PLANNING COMMISSION MEETING
March 5, 2013
Page 12 of 12
• Other
Commissioner Davis asked if any consideration is being given to addressing the wild turkey problem in
the City that is growing by leaps and bounds in her neighborhood. Commissioner Maddy asked what the
problem is with having turkeys around. Davis stated they leave a lot of feces around and they have picked
pine trees in her neighborhood bald. Davis then stated when they breed this spring the problem will
become that much worse. Director Nielsen stated that to date Council has not chosen to take that issue up.
Davis asked if other communities are doing anything about it. Nielsen stated turkey complaints are down.
Davis stated leptospirosis is quite common because of all the wild animal feces. She asked if a person
could get that if they are in contact with turkey feces. She stated that would be the deciding factor because
that is a cross-species disease.
8. ADJOURNMENT
Garelick moved, Davis seconded, Adjourning the Planning Commission Meeting of March 5, 2013,
at 9:15 P.M. Motion passed 7/0.
RESPECTFULLY SUBMITTED,
Christine Freeman, Recorder
#10B
MEETING TYPE
City of Shorewood Council Meeting Item
Regular Meeting
Title / Subject: Investment Policy Amendments
Meeting Date: March 25, 2013
Prepared by: Bruce DeJong
Attachments: Redline Copy of Proposed Investment Policy Amendments
Policy Consideration: Should the City of Shorewood amend its investment policy to establish a
procedure if legally purchased investments are downgraded by rating agency action?
Background: City Administrator Bill Joynes and Finance Director Bruce DeJong met with Mayor Zerby
and Council Member Woodruff on March 18 to discuss concerns regarding investments. At the meeting,
the investment in the Illinois State Pension fund was discussed in particular. The bond in question was
part of the recent consent agreement between the State of Illinois and the Securities and Exchange
Commission regarding poor disclosure practices. While the bond still meets the criteria for investments
as establish by the current policy there was some concern regarding what would happen if the bond
rating was downgraded to the point where it no longer met the investment criteria. While staff believes
the investment will remain legal according to current policy, the proposed amendments are designed to
address concerns about this possibility.
The first change is to clarify that all bonds in the “A” category are considered legal. Both Standard &
Poors and Moody’s Investors Services have modifiers that they apply to show relative ranking with
categories; plus (+) and minus (-) for S&P and one (1), two (2), and three (3) for Moody’s. The
amendment clarifies that bonds rated either A- or A3 by one of the rating agencies remain legal
investments.
The second change clarifies that staff will notify council of any investments that fall outside of the
required rating after purchase. There is no recommendation to sell an investment because they will
remain a general obligation of the issuing entity with the full faith and credit taxing authority backing
the repayment of both principal and interest. The City Council may direct staff to sell any non-
conforming bond after notification, but doing so may generate an actual loss of principal.
Financial or Budget Considerations: There is no financial impact from this change. Options:
1. Adopt the amendments as proposed.
2. Amend the policy in a different fashion to address this contingency.
3. Leave the policy as is.
Mission Statement: The City of Shorewood is committed to providing residents quality public services, a
healthy environment, a variety of attractive amenities, a sustainable tax base, and sound financial
management through effective, efficient, and visionary leadership. Page 1
Recommendation / Action Requested: Staff recommends that the City Council adopt the policy as
proposed.
Next Steps and Timelines: The next quarterly investment report is scheduled for April 26.
Connection to Vision / Mission: This will allow City Council to ensure that investments remain safe and
legal.
City of Shorewood, Minnesota
INVESTMENT POLICY
INTRODUCTION
This policy covers all monies and cash balances of the City of Shorewood and includes deposits and
investments of funds in interest bearing accounts. The policy is intended to be broad enough to allow
the Investment Officers to function properly within the parameters of responsibility and authority, yet
specific enough to adequately safeguard the investment assets.
PURPOSE
The purpose of this policy is to establish specific guidelines the City of Shorewood will use in the
investment of City funds. It will be the objective of this policy to invest City funds in order to attain a
market rate of return while preserving and protecting the capital of the portfolio. Investments will be
made, based on statutory and city policy constraints, in low risk instruments.
SCOPE
The Investment Officers are responsible for the investing of all funds in the custody of the City,
including, but not necessarily limited to, the General Fund, Special Revenue Funds, Debt Service Funds,
Capital Project Funds, Enterprise Funds, and Agency Funds.
PRUDENCE
The standard of prudence to be used by Investment Officers shall be the “prudent investor”, and shall
be applied in the context of managing the overall portfolio. Investment Officers acting in accordance
with this policy and with MN Statute 118A, and exercising due diligence shall be relieved of personal
responsibility for an individual security’s credit risk or market price changes, provided that reasonable
action is taken to control adverse developments and unexpected deviations are reported in a timely
manner.
OBJECTIVE
There are three main objectives of all investment activities that are prioritized as follows:
A. Safety - Safety of principal is the foremost objective of the City. Each investment
transaction shall seek to first insure that capital losses are avoided. The
objective is to mitigate credit risk and interest rate risk. Credit Risk is the risk
of loss due to failure of the security issuer or backer. Interest Rate Risk is the
risk that the market value of securities in the portfolio will fall due to changes in
general interest rates.
B. Liquidity - The investment portfolio shall remain sufficiently liquid to meet all operating
requirements that may be reasonably anticipated. This is accomplished by
structuring the portfolio so that securities mature concurrent with cash needs
to meet anticipated demands.
C. Yield - The investment portfolio of the City of Shorewood shall be designed to attain a
market-average rate of return through budgetary and economic cycles, taking
into consideration the city’s investment risk constraints, cash flow
characteristics of the portfolio and prudent investment principles.
Subject to the restrictions of the above objectives, it is the policy of the City of Shorewood to offer
financial institutions and companies within the corporate boundaries of Shorewood the opportunity to
bid on investments; however, the City of Shorewood will seek the best investment yields.
DELEGATION OF AUTHORITY
In accordance with Minnesota Statute 118A.02, the responsibility for conducting investment
transactions resides with the City Council of the City of Shorewood. Management responsibility for the
investment program is hereby delegated from the City Council to the Investment Officers (the City
Finance Director/Treasurer, and, in the absence of the Finance Director/ Treasurer, the City
Administrator). The Investment Officers shall establish procedures for the operation of the investment
program, consistent with this Investment Policy. Such procedures shall include delegation of authority
to persons responsible for investment transactions. The Investment Officers shall be responsible for all
transactions undertaken and shall establish a system of internal controls designed to prevent losses
from fraud and employee error.
AUTHORIZED FINANCIAL INSTITUTE AND DEALER
The Council authorizes the Investment Officers to exercise the powers of the Council in designating a
depository of the Funds. In selecting depositories, the credit worthiness of the institutions under
consideration shall be examined by the Investment Officers.
Only approved security broker/dealers selected by creditworthiness shall be utilized (minimum capital
requirement of $10 million dollars and at least five years of operation). These may include “primary”
dealers or regional dealers that qualify under Securities and Exchange Commission Rule 15c3-1 (uniform
net capital rule).
OVERSIGHT COMMITTEE
The Council, at its discretion, may form an investment oversight committee for the specific and limited
purpose of reviewing the portfolio of investments and earnings with the Investment Officers, with the
purpose of ensuring the investment practices are in conformance with the provisions established in this
policy. The committee shall have no authority to suggest or direct the Investment Officers to invest city
funds in a particular security, with a particular broker, or in a particular manner. Members of the
Oversight Committee shall be the Finance Director, City Administrator, and two Council members. The
Committee shall meet at least twice each year but not more than quarterly.
CONFLICT OF INTEREST
Any City Official (elected or appointed) involved in the investment process shall refrain from personal
business activity that could conflict with proper execution of the investment program or which could
impair his/her ability to make impartial investment decisions.
BROKER REPRESENTATIONS
Municipalities must obtain from their brokers certain representations regarding future investments.
Minnesota Statutes, Section 118A.04, Subdivision 9, requires municipalities to provide each broker with
information regarding the municipality’s investment restrictions. Before engaging in investment
transactions with the City of Shorewood, the supervising officer at the securities broker/dealer shall
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submit a certification annually according to MN Statutes 118A.04. The document will be in the format
approved by the State Auditor.
AUTHORIZED AND SUITABLE INVESTMENTS
Minnesota Statutes, Section 118A.04, lists all permissible investments for municipalities. This list
establishes the maximum investment risk permitted for a Minnesota municipality. Even though MN
Statutes 118A provides for more instruments to be used for investing purposes; the following is a listing
of investments the City will be authorized to invest in:
1. United States securities.
Public funds may be invested in governmental bonds, notes, bills, mortgages (excluding high-risk
mortgage-backed securities), and other securities, which are direct obligations or are guaranteed or
insured issues of the United States, its agencies, its instrumentalities, or organizations created by an act
of Congress.
2. State and local securities.
Funds may be invested in any security which is a general obligation of any state or local government
with taxing powers which is rated "A-" or better by a national bond rating serviceStandard & Poors or
“A3” or better by Moody’s Investors Services;
3. Commercial papers.
Funds may be invested in commercial paper issued by United States corporations or their Canadian
subsidiaries that is rated in the highest quality category by at least two nationally recognized rating
agencies and matures in 270 days or less.
4. Time deposits.
Funds may be invested in time deposits that are fully insured by the Federal Deposit Insurance
Corporation.
5. Investment Pools and Money Market Mutual Funds
Additionally, investments may be made in state-wide investment pools, including Minnesota Joint
Powers Investment Trust (4M Fund) and money market mutual funds which invest only in authorized
instruments according to MN Statutes 118A.
COLLATERALIZATION
Collateralization will be required on two types of investments: Certificates of Deposit (above the FDIC
insurance amount) and Repurchase Agreements. In order to anticipate market changes and provide a
level of security for all funds, the collateralization level will be 110 percent of the market value of
principal and accrued interest. When the pledged collateral consists of notes secured by first
mortgages, the collateral level will be 140% of the market value of the principal and accrued interest.
Collateral shall be deposited in the name of the City of Shorewood, subject to release by the Investment
Officers.
SAFEKEEPING AND CUSTODY
All invested assets of the City of Shorewood involving the use of public funds custodial agreement shall
comply with all rules adopted pursuant to Minnesota Statute 118A. All custodial agreements shall be in
writing and shall contain a provision that all custodial services are provided in accordance with the laws
of the State of Minnesota.
Page 3
DIVERSIFICATION
The City will attempt to diversify its investments according to type and maturity. The portfolio, as much
as possible, will contain both short-term and long-term investments. The City will attempt to match its
investments with anticipated cash flow requirements. Extended maturities may be utilized to take
advantage of higher yields; however, no more than 30% of the total investments should extend beyond
five (5) years and in no circumstance should any extend beyond fifteen (15) years. No more than 10% of
available funds shall be kept in commercial paper.
CERTIFICATE OF AUTHORITY
The Shorewood City Council hereby authorizes the following city staff to sell, assign and endorse for
transfer, certificates of deposit, and certificates representing stocks, bonds or other securities that are
registered in the name of the City of Shorewood: City Finance Director/Treasurer and City Administrator.
INVESTMENT REPORTING
The City Finance Director/Treasurer shall prepare an investment report at least quarterly, including a
management summary that provides a clear picture of the status of the current investment portfolio.
The investment report shall include the cost, date and place of each investment, the maturity date and
rate of interest earning on each as of that date; a cash flow analysis that shows investment maturities
and available cash sufficient to cover estimated bills, and any additional information as may be
requested from time to time by the City Council.
If any investment shall drop below either an “A-“ or “A3” rating after it is purchased, the Finance
Director or City Administrator will make the City Council aware of the change in rating as soon as
practical. The City Council will determine a course of action to take with regard to such bonds on a case
by case basis.
Modified June 13, 2011March 24, 2013.
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