Item 1. Bonding - Capital Improvement Plan
Request for
City Council Action
DEPARTMENT INFORMATION
ORIGINATING DEPARTMENT REQUESTOR: MEETING DATE:
Administration City Administrator/Finance Director Flaherty December 11, 2023
PRESENTER(s) REVIEWED BY: ITEM #:
Administration Jessica Green, Northland Securities, Inc.
Mary Ippel, Taft
Special Meeting – Item #1
STRATEGIC VISION
MEETS: THE CITY OF OTSEGO:
X Is a strong organization that is committed to leading the community through innovative communication.
X Has proactively expanded infrastructure to responsibly provide core services.
X Is committed to delivery of quality emergency service responsive to community needs and expectations in a
cost-effective manner.
X Is a social community with diverse housing, service options, and employment opportunities.
X Is a distinctive, connected community known for its beauty and natural surroundings.
AGENDA ITEM DETAILS
RECOMMENDATION:
City staff is recommending the City Council adopt a resolution adopting a capital improvement plan.
ARE YOU SEEKING APPROVAL OF A CONTRACT? IS A PUBLIC HEARING REQUIRED?
No Yes, December 11, 2023, at 5:30PM
BACKGROUND/JUSTIFICATION:
The City is progressing with the City Campus Facilities Phase 1 project (the Project). The project is the culmination of a
space needs study, a site selection analysis, and a phasing evaluation. The project was initiated in February 2021 and has
progressed to this point of adopting a Capital Improvement Plan in accordance with Minnesota Statute §475.521 (the
Statute).
The Statute includes a requirement that the City conduct a public hearing on the Capital Improvement Plan. Notice of the
public hearing was published in the November 25, 2023, edition of the Star News and was posted on the City website on
November 21, 2023, both of which meeting notification requirement in the Statute.
The City hosted Open House events for the Project on September 21, 2023, and on December 4, 2023. The City has a
dedicated page on the City website that includes a timeline of the Project, facility renderings and reports that were
presented, reviewed, and discussed at City Council meetings throughout the Project.
At the meeting on December 11, 2023, there will be a short presentation on the Project, a short presentation on the
Capital Improvement Plan, and the City Council will conduct a public hearing. Upon closure of the public hearing, the City
Council will consider adoption of a resolution adopting the Capital Improvement Plan.
Adoption of the Capital Improvement Plan does not bind the City in any way to award any construction contracts for the
Project, nor does it bind the City in any way to the issuance of bonds to provide financing for the Project.
The resolution has been prepared by the City’s Bond Counsel, Taft Law, and has been reviewed by the City’s Municipal
Advisor, Northland Securities, Inc., with recommendation for City Council consideration.
City staff received written comments for the public hearing, which have been included in this packet.
SUPPORTING DOCUMENTS ATTACHED:
• Draft Capital Improvement Plan
• Resolution 2023-90
• Written Comments
POSSIBLE MOTION
PLEASE WORD MOTION AS YOU WOULD LIKE IT TO APPEAR IN THE MINUTES:
Motion to adopt Resolution 2023-90 adopting a Capital Improvement Plan and providing preliminary approval for the
issuance of bonds thereunder.
BUDGET INFORMATION
FUNDING: BUDGETED:
Fund 414- Capital Improvement Revolving
Yes