HomeMy WebLinkAboutCouncil Information Memorandum 09-30-2011CITY OF PLYMOUTH
rp) COUNCIL INFO MEMO
September 30, 2011
UPCOMING MEETINGS AND EVENTS
Gopher Soccer Plymouth Community Day 10/02/11........................................................................... Page 1
Bassett Creek Watershed Management Commission Public Hearing 11/16/11 ................................... Page 2
Notice of Plymouth Councilmembers in Attendance 10/02/11 Adopt a Street .................................... Page 4
Planning Commission Agenda 10/05/11.............................................................................................. Page 5
Sand Companies West View Estates Cornerstone Setting 10/04/11 ..................................................... Page 6
Public Hearings on Redistricting Various October Dates.................................................................... Page 7
New Plymouth Business Council Meetings 10/11/11 (formerly TwinWest & Plymouth Rotary) ..... Page 10
October, November and December Official Calendars...................................................................... Page 11
Tentative Agenda List for Future Council Meetings.......................................................................... Page 14
INFORMATION
News Articles, Releases, Publications, Etc ...
Minnehaha Creek will be getting big improvements, StarTribune................................................... Page 16
Analysis: MVHC Elimination Supported by LMC Marks the End of a Recurring Shell Game,
LMC.............................................................................................................................................. Page 18
Ehlers Market Commentary............................................................................................................... Page 19
MEETING MINUTES
Wayzata Communities in Collaboration Council Minutes 09/21/11 ................................................. Page 21
STAFF REPORTS
Volunteer Fire Relief Association Investment Report Card............................................................. Page 23
Plymouth Community Day
Come and support
the Taylor!
Tickets are only $2
at the gate!
For online purchase
enter promo code:
community
Minnesota vs.
Penn State
Sunday, October 2, 2011 @ 11 a.m.
Elizabeth Lyle Robbie Stadium
1745 Cleveland Ave. St. Paul, MN 55108
September 28, 2011
TO: City Clerk - BCWMC Member Cities
FROM: Bassett Creek Watershed Management Commission (BCWMC)
RE: Notice of Public Hearing — November 16, 2011, hearing on Proposed
BCWMC Capital Improvement Project — the Sweeney Lake Outlet
Reconstruction Project in Golden Valley
Attached is a Notice of Public Hearing notifying the Bassett Creek Watershed
Management Organization Member Cities that the Bassett Creek Watershed Management
Commission (BCWMC) is holding a public hearing to explain a proposed Capital
Improvement Project and to hear testimony and comments of the public and member
cities regarding the proposed project.
The public hearing will be held during the BCWMC's 11:30 a.m. meeting on
Wednesday, November 16, 2011, at the BCWMC's regular meeting location of Golden
Valley City Hall. Interested persons are invited to attend the public hearing.
The proposed Sweeney Lake Outlet Reconstruction Project in Golden Valley involves:
• The replacement of the twenty-year old Sweeney Lake outlet structure with a
structure that will include a sheet pile weir extending into the embankments to
prevent seepage under the structure and to prevent erosion of the embankments
and the installation of riprap on the embankment portions of the structure and in
the channel downstream of the weir to prevent erosion.
• The estimated cost of the project is $250,000 to be paid through existing funds in
the Bassett Creek Watershed Management Commission's Flood Control Long -
Term Maintenance Fund.
• The anticipated construction year is 2012.
If you have any questions regarding the public hearing, please contact the BCWMC's
Engineer, Len Kremer, at 952-832-2781 or LKremer@barr.com or me at or
linda.loomis@ci.golden-valley.mn.us or 763-593-3990.
Sincerely,
Linda Loomis, Chair, Bassett Creek Watershed Management Commission
Enclosure
Page 2
BASSETT CREEK WATERSHED MANAGEMENT COMMISSION
NOTICE OF PUBLIC HEARING
Proposed Capital Improvement Project - Sweeney Lake Outlet Reconstruction
Project in Golden Valley
NOTICE IS HEREBY GIVEN that the Bassett Creek Watershed Management
Commission (BCWMC) will meet at Golden Valley City Hall, 7800 Golden Valley
Road, Golden Valley, Minnesota, on Wednesday, November 16, 2011, and will hold a
public hearing at 11:30 a.m. Interested persons are invited to attend. The purpose of the
public hearing is to explain the proposed BCWMC Capital Improvement Project and to
hear testimony and comments of the public and member cities regarding the proposed
project. The proposed Sweeney Lake Outlet Reconstruction Project in Golden Valley
involves the following:
• The replacement of the twenty-year old Sweeney Lake outlet structure with a
structure that will include a sheet pile weir extending into the embankments to
prevent seepage under the structure and to prevent erosion of the embankments
and the installation of riprap on the embankment portions of the structure and in
the channel downstream of the weir to prevent erosion.
• The estimated cost of the project is $250,000.
• The anticipated construction year is 2012.
The proposed method by which the costs of the improvements are to be paid is through
existing funds in the Bassett Creek Watershed Management Commission's Flood Control
Long -Term Maintenance Fund.
BASSETT CREEK WATERSHED MANAGEMENT COMMISSION
Linda Loomis, Chair
Page 3
NOTICE OF EVENT
PLYMOUTH COUNCILMEMBERS IN ATTENDANCE
City of Plymouth Environmental Quality Commission
Is Participating in Plymouth's Adopt a Street Program
Sunday, October 2, 2011, 12:00 p.m.
Dunkirk Lane between Co. Road 6 and Co. Road 24
This is not an Official City Meeting and no business will be conducted, but a quorum of
members may be in attendance. The group will be assembling in the parking lot at Fire
Station 3. The event is hereby noticed and open to the public.
Please call 763-509-5000 for further information regarding this event.
Sandy Engdahl, MMC
City Clerk
Posted on September 28, 2011.
Page 4
PLANNING COMMISSION AGENDA
WEDNESDAY, October 5, 2011
WHERE: MEDICINE LAKE ROOM
Plymouth City Hall
3400 Plymouth Boulevard
Plymouth, MN 55447
CONSENT AGENDA
All items listed on the consent agenda are considered to be routine by the Planning
Commission and will be enacted by one motion. There will be no separate discussion
of these items unless a Commissioner, citizen or petitioner so requests, in which
event the item will be removed from the consent agenda and considered in normal
sequence on the agenda.
1. CALL TO ORDER - 7:00 P.M.
2. PLEDGE OF ALLEGIANCE
3. PUBLIC FORUM
4. APPROVAL OF AGENDA
5. CONSENT AGENDA
A. Approve the September 21, 2011 Planning Commission meeting minutes.
6. PUBLIC HEARINGS
A. Gronberg and Associates. Preliminary plat for "Churchill Ridge 2nd
Addition" for two single-family lots. (2011071)
B. Suncrest Builders. Interim use permit for temporary occupancy of an
existing home while a new home is constructed. (2011075)
7. NEW BUSINESS
A. City of Plymouth. Four Seasons Mall redevelopment study. (2010101)
8. ADJOURNMENT
Page 5
You are invited to the following event:
West View Estates Cornerstone Setting
Tuesday, October 4, 2011
from 11:00 AM to 12:00 PM
(CT)
West View Estates
6125 Vicksburg Lane N
Plymouth, MN
View Map
�+ku
Sand Companies, Inc.
Planning Desip♦Conslxvrtion♦Property)lanagemenI
Please join Sand Companies, Inc. & Plymouth Mayor Kelly Slavik as they set the
cornerstone to dedicate the new construction start of West View Estates. We
hope you can make it!
Cheers,
Sand Companies, Inc.
Eventbrite
Page 6
Cities Urged to Offer Comments on Impact of Redistricting
1 Lr, GTJE w
JAI N N tSOTA
CITIES
Cities Urged to Offer
Comments on Impact of
Redistricting
A series of public hearings will be held throughout the state in October.
(Published Sep 22, 2011)
Page 1 of')
Now that both the Minnesota Special Judicial Redistricting Panel and the Citizens' Redistricting
Commission have begun the process of gathering information to guide legislative and congressional
redistricting, it is important for cities to submit comments and concerns
about how the panel will draw new election boundaries for state legislative and
congressional districts.
In October, cities have the opportunity to provide important insights to identify communities of interest
that should be maintained within the new legislative or congressional districts that the panel is
responsible for creating.
The five judge Special Redistricting Panel appointed by Minnesota State Supreme Court Justice Laurie
Gildea has announced a series of public hearings to be held throughout the state during the month of
October. Members of the public interested in testifying will have up to five minutes to address the panel
at one of the eight locations listed below.
Hearing schedule
The public hearings are to be conducted from 6:30-8:30 p.m. The dates and locations are:
Oct. 4—Bloomington
Bloomington Civic Plaza
1800 W. Old Shakopee Road
Oct. 5—St. Paul
Minnesota Judicial Center
Courtroom #300
25 Rev. Dr. Martin Luther King Jr. Blvd.
Oct. 6—Minneapolis
John B. Davis Educational Service Center
807 Broadway Street Northeast
Oct. 10—Cloquet
Fond du Lac Tribal Community College Amphitheater
2101 Fourteenth Street
Oct. 11—Bemidji
Beltrami County Administration Building
County Board Meeting Room
701 Minnesota Ave. NW
Page 7
http://www.Ime.org/page/l/redistricting-hearingsjsp sp 9/28/2011
Cities Urged to Offer Comments on Impact of Redistricting
Oct. 12—Moorhead
City Hall Council Chambers
500 Center Ave.
Oct. 13—St. Cloud
Stearns County Admin. Center
Board Room A
705 Courthouse Square
Oct. 14—Mankato
Blue Earth County Justice Center
Jury Assembly Room
401 Carver Road
Page 2 of 3
Important points about redistricting
This is an opportunity for cities to make the members of the special redistricting panel aware of the
geography and changes that have occurred in the community since the 2002 redistricting, including
neighborhoods, matters of historical importance, and significant features that distinguish the city. In
addition, testimony, whether oral or written, can inform judicial panel members about the key social and
economic circumstances that help define the community as well as any regional matters of significance
to the city.
The demographics of the city are also important to emphasize, including the age range of the city
population, languages spoken, education, and employment. In addition, point out any major employers
in the area and school district boundaries as well as traffic patterns that influence the flow of commerce
and access to other locations beyond the city limits.
Finally, comments on redistricting can emphasize important local interests and circumstances that.either
distinguish the city from other locations in the immediate area or are similar to those of other nearby
cities.
To inquire about opportunities to testify, call (855) 245-0849.
. Learn more about the public hearings from the Judicial Branch website
Other ways to give your testimony
If the city does not have an opportunity to provide oral testimony, it is possible to submit written
comments by Oct. 21. Deliver one original and one copy of the written statement at one of the public
hearings or send one original and one copy of the statement by U.S. mail to:
Minnesota Special Redistricting Panel
c/o Bridget Gernander, Clerk of Appellate Courts
305 Minnesota Judicial Center
25 Rev. Dr. Martin Luther King Jr. Blvd.
St. Paul, MN 55155
Statements may also be transmitted by e-mail to: StateRedistrictingPanel@courts.state.mn.us
Once public hearings have concluded, opportunity remains for interested parties to provide additional
proposed redistricting criteria. Following the public hearings, the special redistricting panel will
establish its redistricting principles and announce the scheduling for submissions of redistricting plans to
Page 8
http://www.Ime.org/page/l/redistricting-hearingsjsp 9/28/2011
Cities Urged to Offer Comments on Impact of Redistricting
be submitted by interested parties.
Read the current issue of the Cities Bulletin
Your LMC Resource
Contact Ann Higgins
IGR Representative
(651) 281-1257 or (800) 925-1122
ahiggins@lmc.org
Page 3 of 3
Copyright 02011 League of Minnesota Cities, 145 University Ave. W, Saint Paul, MN 55103-2044 1 Phone: (651) 281-1200 1 Toll -Free: (800) 925-1122
Page 9
http://www.Ime.org/page/l/redistricting-hearingsjsp 9/28/2011
da
CHAMBER OF COMMERCE
Sc writq O)e Standard, Leading the Way:"
Join TwinWest and the Plymouth Rotary at the
New Plymouth Business Council Meetings
First meeting set for Tuesday, October 11 at
WestHealth, Inc. in Plymouth
The TwinWest Chamber of Commerce and the Rotary Club
of Plymouth have joined forces to form a new Plymouth
Business Council.
The Plymouth Business Council is for business and civic
leaders who want to have a voice and make an impact on
local government and grassroots issues.
Come attend the first Plymouth Business Council meeting to
engage in conversations on timely topics with city, school,
county, and state public officials, while networking with local
business leaders.
Thank you to Jeff Wosje of Bremer Bank - Plymouth for
serving as chair of the new Plymouth Business Council.
Plymouth and is an active TwinWest member.
Jeff currently serves as president of the Rotary Club of
Special thanks to WestHealth, Inc. for hosting the Plymouth Business Council meetings on the second Tuesday of
each month. Visit TwinWest's events calendar for updated information on future meetings and upcoming off-site
business tours.
Meeting Details:
Plymouth Business Council
Tuesday, October 11, 2011
7:30 a.m. - 9:00 a.m.
WestHeath, Inc.
(Main Level Conference Room)
2805 & 2855 Campus Drive
Plymouth, MN 55441
There is no cost to attend. No RSVP is necessary.
For those who like to get an early morning hot cup of java, Cafe Espresso & More is located on the main level of
WestHealth, Inc. and opens at 7:00 a.m. Water will be provided at the meeting.
To be added to TwinWest's Plymouth Business Council group roster for monthly meeting agendas and information
contact Kristen George, administrative assistant, at 763.450.2220 or kristenCcDtwinwest.com.
Page 10
City of
Plymouth
Adding Quality to Life
October 2011
Modified on 09/30111 Center
Page 11
1
2
3
4 6:30 PM
5 7:00 PM
6
7
8
VOLUNTEER
PLANNING
RECOGNITION
COMMISSION
EVENT
MEETING
Plymouth Creek
Medicine Lake Room
Center
Yom Kippur
Begins at Sunset
9
10
11
12
13
14
15
5:30 PM
7:00 PM
7:00 PM
SPECIAL COUNCIL
ENVIRONMENTAL
PARK £t REC
12:00-3:00 PM
MEETING`
QUALITY
ADVISORY
FIRE DEPT.
COLUMBUS DAY
Parkers Lake Room
COMMITTEE
COMMISSION
OPEN HOUSE
Observed
(EQC) MEETING
(PRAC) MEETING
Fire Station III
7:00 PM
Parkers Lake Room
Plymouth Ice Cente
PLYMOUTH PUBLIC
REGULAR COUNCIL
WORKS DIVISION
MEETING
CLOSED
Medicine Lake Room
16
17
18 6:00 PM
19 7:00 PM
20
21
22
SPECIAL COUNCIL
PLANNING
MEETING"
COMMISSION
Parkers Lake Room
MEETING
Medicine Lake Room
23
24
25
26
27
28
29
7:00 PM
7:00 PM
REGULAR COUNCIL
HRA MEETING
MEETING
Parkers Lake Room
Medicine Lake Room
0 P
/Halloween
* Review applications for
and 2 Council Position
'
o
and quarterly U
date with City Manager
ek
/3o
yCreek
** Conduct Interviews for
and 2 Council Position
Modified on 09/30111 Center
Page 11
City of
Plymouth
Adding Quality to Life
November 2011
Modified on 09/30/11
CHANGES ARE NOTED IN RED
Page 12
1
2 7:00 PM
3 7:00 PM
4
5
PLANNING
HUMAN RIGHTS
COMMISSION
COMMITTEE
MEETING
MEETING
Medicine Lake Room
Parkers Lake Room
6
7
8 8:00 Pm
10
11
12
REGULAR
7:00 PM
COUNCIL MEETING
ENVIRONMENTAL
Medicine Lake Room
QUALITY
VETERANS DAY
SPECIAL
COMMITTEE
Observed
COUNCIL MEETING
(EQC) MEETING
CITY OFFICES
Immediately Follow-
Parkers Lake Room
CLOSED
ing Regular Meeting
Budget Study Session
Medicine Lake Room
13
14
15
16
17
18
19
6:00 PM
7:00 PM
7:00 PM
SPECIAL COUNCIL
PLANNING
HRA MEETING
MEETING
COMMISSION
Parkers Lake Room
Board and Commission
MEETING
Interviews
Medicine Lake Room
Parkers Lake Room
20
21
22
23
24
25
26
7:OOPM
REGULAR COUNCIL.
MEETING
Medicine Lake Room
THANKSGIVING
THANKSGIVING
HOLIDAY
HOLIDAY
CITY OFFICES
CITY OFFICES
CLOSED
CLOSED
27
28
29
30
7:00 PM
PLYMOUTH
ADVISORY
COMMITTEE ON
TRANSIT (PACT)
MEETING
Medicine Lake Room
Modified on 09/30/11
CHANGES ARE NOTED IN RED
Page 12
City of
Plymouth
Adding Quality to Life
December 2011
Modified on 09/30/11
Page 13
1
2
3
4 2:00-5:00 PM
5
6
7 7:00 PM
8 7:00 PM
9
10
OLD FASHIONED
PLANNING
PARK Et REC
CHRISTMAS
COMMISSION
ADVISORY
Plymouth Historical
MEETING
COMMISSION
Society Building
Council Chambers
(PRAC) MEETING
Council Chambers
11
12
13
14 7:00 PM
15
16
17
7:00 PM
ENVIRONMENTAL
REGULAR COUNCIL
QUALITY
MEETING
COMMITTEE (EQC)
Council Chambers
MEETING
Council Chambers
7:00 PM
CHARTER
COMMISSION
ANNUAL MEETING
Medicine Lake Room
18
19
20
21
22
23
24
7:00 PM
HRA MEETING
Parkers Lake Room
Chanukah
CHRISTMAS EVE
Begins at Sunset
25
26
27
28
29
30
31
CITY OFFICES
NEW YEAR'S EVE
CLOSED
CHRISTMAS DAY
Modified on 09/30/11
Page 13
Tentative Schedule for
City Council Agenda Items
October 11, Special, 5:30 p.m., Parkers Lake Room
• Quarterly update with City Manager
• Review applications for Ward 2 Council position
October 11, Regular, 7:00 p.m., Medicine Lake Room
• Public hearing to approve Host City for a Private Activity Bond Issuance (Hazelden)
• Four Seasons Mall study
• Assessment hearing for Annapolis Lane Street Reconstruction Project (11002)
• Assessment hearing for Peony Lane Mill and Overlay Project (11007)
• Hearing on delinquent utilities and other charges
• Announce Fire Department Open House on October 15 at Fire Station III
• Approve Payment No. 4 and Final, 36th Avenue Landscape Enhancements Project (8104)
• Approve Change Order No. 1, Parkers Lake Storm Sewer Lift Station Rehabilitation (100 17)
• Approve Plans and Specifications and Order Advertisement for Bids, Well No. 17 (10024)
• Approve grant agreement with Hennepin County receiving Waste Abatement Incentive Grant
funds for multi -family recycling and waste abatement
• Approve of the Metropolitan Council Master Lease agreement for Plymouth Metrolink vehicles
• Hearing on vacation of a portion of a drainage and utility easement within Lot 2, Block 1,
Fretham 6th Addition
• Approve a preliminary and final plat for The Willows Third Addition. Pulte Group. (2011066)
• Approve a variance for impervious surface coverage for a building addition at 1151 Black Oaks
Lane. Skyline Design. (2011068)
• Approve a conditional use permit for a fitness training facility within an existing industrial
building at 3700 Annapolis Lane. Team Definition Fitness. (2011070)
• Approve an interim use permit for temporary occupancy of an existing home while a new home
is constructed. Suncrest Builders. (2011075)
October 18, Special, 6:00 p.m., Parkers Lake Room
• Conduct interviews for Ward 2 Council position
October 25, Regular, 7:00 p.m., Medicine Lake Room
• Assessment hearing for Lancaster Lane Mill and Overlay Project and Watermain Replacement
(11010)
• Assessment hearing for Suncourt Street Mill and Overlay Project (11006)
• Presentation of donation from the Wayzata Youth Hockey Association for hockey goal lights at
the Plymouth Ice Center
• Presentation of Photo Contest Winners
November 8, Regular, 8:00 p.m., Medicine Lake Room
• Approve 2012 Regular Council Meeting Schedule
November 83, Special, Immediately following Regular Meeting, Medicine Lake Room
• Discuss 2012 Budget
November 15, Special, 6:00 p.m., Parkers Lake Room
• Board and Commission interviews
Note: Special Meeting topics have been set by Council; all other topics are tentative. Page 14
• Council Coordinating Representatives for 2012
• Deputy Mayor for 2012
November 22, Regular, 7:00 p.m., Medicine Lake Room
• Announce Old Fashioned Christmas on December 4 at Plymouth Historical Society Building
December 13, Regular, 7:00 p.m., Council Chambers
• Adopt the 2012 Budgets and Tax Levies and 2012-2016 Capital Improvement Program
• Recognize Police Citizen Academy Graduates
• Approve 2012 Tobacco License renewals
• Announce New Year's Eve Event at the Plymouth Ice Center
Page 15
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Minnehaha Creek will
be getting big
improvements
Article by: , Star Tribune
Updated: September 28, 2011 - 10:39 PM
An ambitious environmental project to
improve Minnehaha Creek is taking a big
step forward this week in Hopkins.
The Minnehaha Creek Watershed District will
finalize a deal of nearly $15 million Friday to
acquire almost 17 acres of industrial
property. The parcel, at 325 Blake Road N.,
contains cold -storage buildings from the
1950s that border one of the most degraded
sections of the popular creek.
The plan is to tear down the buildings when
current leases expire in three years, or
earlier if tenants find other space, district s
pokeswoman Telly Mamayek said. The
district would then restore native plants
along 1,000 feet of shoreline and provide
enough green space to protect the creek
from runoff, she said.
The plan also would build canoe landings
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and redirect stormwater so that it's filtered
before entering the creek.
"Right now, all the gunk that gets carried by
stormwater down the gutters and into the
storm drains goes right into the creek,"
Mamayek said.
Minnehaha Creek flows for 22 miles from
Lake Minnetonka through several
communities west of Minneapolis. From
Minnetonka and Hopkins, it meanders east
through St. Louis Park, Edina and south
Minneapolis to Minnehaha Falls and into the
Mississippi River.
Turning back the clock
Hopkins Mayor Gene Maxwell said he is
delighted with the city's partnership with the
district, which is charged by state law with
protecting the watershed.
"They have their goal, which is clean water,
and we have our goals for redevelopment,"
Maxwell said. "The two are a perfect match."
The Hopkins City Council passed a
resolution this month in support of the deal.
District Administrator Eric Evenson said the
Blake Road project "will help us turn back the
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clock on the creek's neglect" and will do so
in a way that minimizes costs to taxpayers.
District bond proceeds will pay for the land
initially, Mamayek said, with repayment
through the district's watershed tax levy.
Lease payments from tenants will help cover
annual financing costs until the buildings
are removed. After the creek is restored, the
district will recover a good portion of the
purchase price by selling the rest of the
property to developers identified by the city,
she said.
Development possibilities
The district initially sought an easement
along the creek instead of buying the
property, Evenson said, but restoration
would have been impossible because an
extensive shipping dock and truck loading
area faces the creek and extends nearly all
the way to the water.
Maxwell said the property, with a cleaner
creek, new plantings and walkways, would be
an ideal location for senior housing and
perhaps a small-business complex. The site
is one block from a station stop along the
proposed southwest light-rail line between
Minneapolis and Eden Prairie, he said. "It will
tie together beautifully" and help to revitalize
the area, he said.
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Earlier this year, the district bought and tore
down two apartment buildings, two houses
and an office building across the street from
the cold -storage buildings. Creek shoreline
there also will be improved, and the open
space will become an extension of the city's
Cottageville Park, Maxwell said.
The district also has restored natural curves
of the creek and wetlands to improve the
shoreline near Methodist Hospital and other
sites in St. Louis Park.
Tom Meersman • 612-673-7388
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Analysis: MVHC Elimination Supported by LMC Marks the End of
a Recurring Shell Game
While conversion to the new market value exclusion system may cause confusion and a
shift in the property tax burden, the new system will ultimately be better for cities and
taxpayers.
(Published Sep 22, 2011, LMC)
Over the past few weeks, there has been extensive media coverage concerning the state
Legislature's discontinuation of the market value homestead credit (MVHC) program in favor of
the new homestead market value exclusion. Moreover, reports about partisan arguments at the
state level over who is responsible for the change have tended to overshadow the more important
news about why the program was discontinued, and what this change will really mean for cities
and for local property taxpayers.
When MVHC was created by the Legislature more than 10 years ago, the program seemed to
provide a win-win situation for both local property taxpayers and for city governments. While
property taxpayers did indeed receive a credit, the state consistently failed to make good on its
promise to reimburse cities. Some cities have not received any reimbursement for the past
several years; others have only received a portion of the amount needed to make them whole.
This year, only about 15 percent of the reimbursement scheduled to be paid by the state to cities
will actually be paid, meaning that cities are left with a significant budget shortfall if they
budgeted to receive their entire reimbursement.
Given this history of unreliability, the League and other local government groups decided
enough was enough. In order to stop the recurring shell game, the League took a position to
support elimination of the MVHC program. This position was driven by a desire for more
transparency and fiscal certainty. Had the state consistently honored its obligation to reimburse
local governments dollar for dollar for the credit it gave to homeowners on property bills, this
change may not have been necessary.
Under the new homestead market value exclusion law, these local governments will no longer be
dependent on the state paying (or, more accurately, not paying) for part of its levy each year.
Now local officials will be assured of receiving the amount they levy, and many homeowners
will see part of the market value of their home excluded from taxation. The downside for city
residents, of course, is that many of them will see increases in their next property tax bill.
While conversion to the new system may cause temporary confusion and shift the property tax
burden to some extent, local governments will be better able to make budget and property tax
decisions going forward and will be clearly accountable to their taxpayers for those decisions.
Ultimately, that's better for our cities and for local property taxpayers.
Page 18
Ehlers Market Commentary September 27, 2011
The Fed Twists; Rates Drop
The biggest financial news of the last two weeks was the decision of the Federal Open Market
Committee (the policy-making body of the Federal Reserve), to implement a new program called
"Operation Twist." In a 7-4 vote last Wednesday, the Committee voted to sell approximately $400
billion of short-term treasury securities (with remaining maturities of 3 years or less) and purchase $400
billion of longer-term treasuries (remaining maturities of 6 to 30 years).
The Committee's statement read: "This program should put downward pressure on longer-term interest
rates and help make broader financial conditions more accommodative." The Committee also
announced that, to support conditions in mortgage markets, it would reinvest in agency mortgage-
backed securities. The full text of the September 21 FOMC announcement can be found at
http://www.federalreserve, gov/newsevents/press/monetary/20110921 a.htm.
Although this program will be implemented gradually - through June 2012 - it had an immediate impact
on the financial markets. As intended, yields on intermediate and long-term treasuries fell sharply on
Wednesday afternoon, and the declines continued on Thursday. From mid-afternoon Wednesday to the
end of Thursday, the benchmark 10 -year yield fell by 25 basis points, from 196% to 1.71%, the lowest
level since the 1950s. Over the same period, the 30 -year Treasury yield fell by 47 basis points, from
3.26% to 2.79%. Treasury yields increased slightly on Friday.
Stock prices also fell sharply after the Fed announcement. This appears to have been partly due to
negative comments in the Committee's statements about future U.S. economic activity, and partly due to
renewed fears about European economies. The Dow Jones Industrial Average fell by over 700 points, or -
6.25%, from Tuesday to the end of the day Thursday. The S&P 500 and the NASDAQ Composite
experienced similar declines. Massive selling of stocks worldwide undoubtedly accelerated the declines
in treasury yields.
Impact on Municipal Bonds
Municipal bond yields declined further over the last two weeks, continuing recent trends. Several points
on Thomson's Municipal Market Data (MMD) scale reached new record lows early in the week of
September 12. After the Fed's announcement on September 21, muni yields declined further, especially
at the longer end of the yield curve. From September 9th to the 23rd, MMD AAA yields fell by 10 basis
points at 10 years, 14 basis points at 20 years, and 22 basis points at 30 years. (Source: Thomson
Reuters)
Over the last two weeks, The Bond Buyer's 20 Bond Index (which measures average yields on AA -rated
bonds maturing in 20 years) dropped from 4.05% to 3.85%, just 3 basis points above the lowest level in
over 40 years.
0 EHLERS
LEADERS IN PUBLIC FINANCE
www.e,hlors-inc.com
Offices in Minnesota: (800) 652-1171
Wisconsin: (800) 717-9742
Illinois: (800) 417-1119
Page 19
Ehlers Market Commentary September 27, 2011
Although muni yields declined, they did not decline as much as treasury yields. The ratio of the 10 year
AAA XIMD to the 10 year treasury was at 108% at the end of Friday, well above the historical average
of 85% to 90%. As a result, mums can be seen as a relatively good deal for investors, despite record low
yields. This suggests that if treasury yields remain at current levels in upcoming weeks, muni
yields could go even lower.
What Should You Do?
The attached schedule of sales results shows that bidding for municipal bonds remains very strong, with
high levels of interest from underwriters and investors. Although the volume of bond sales has picked
up in recent weeks, the market has had no trouble absorbing the increased supply. We would repeat the
advice we offered two weeks ago. The next few months may be an excellent time to capture record low
rates, either for refunding of existing bonds or to raise funds for capital projects. If you have any plans
to issue debt in near term, we encourage you to contact your Ehlers financial advisors to discuss your
options.
Obama's Jobs Proposal and Municipal Bonds
Details of President Obama's proposed jobs bill were released almost two weeks ago, and many were
surprised to see that the bill includes a proposal that would limit the tax value of tax-exempt interest for
high income individuals. The proposed change would take effect with 2013 income taxes and would
apply to all tax-exempt bonds, even those issued before 2013. If enacted, this would drive up borrowing
rates for state and local governments and decrease the value of existing bonds. Some market
participants feared that the introduction of this proposal would lead to an immediate increase in muni
yields, but that obviously did not occur. The record low yields of last week would seem to indicate that
most investors are skeptical this proposal will be enacted.
EHLERS
LEADERS IN PUBLIC FINANCE
www.ehiers-inc.com
Page 20
Page 2
MINUTES
WAYZATA COMMUNITIES IN COLLABORATION COUNCIL
September 21, 2011
PRESENT
Bob Wittman, Brenda Heim, Susan Sommerfeld, Kristin Tollison, Donna Marget, Marcia
Treno, Becky Halvorson, Terese Atkins, Katie Jackelen, Linnea Fonnest, Lynn Zemlin,
Katy Hemmah, Mark Ihrke, Carlee Nelson, Christina Ruiz, Ellen Timmerman -Borer,
Angela Haseman, Sarah Gaveske, Judy Hanson, Charlene Barghini, Holly Nelson, Leah
Hughes, Becca Fink, Chace Anderson, Pat Gleason, LaDonna Hoy, Diane Evans, and
Margy Herbert
CALL TO ORDER
• Becca Fink called the meeting to order. Brenda Heim welcomed the Council to
the new IOCP facilities and introduced Margy Herbert as the new CICC
Coordinator.
MAY MINUTES
• The minutes were approved, as written.
WAYZATA PARTNERS WELCOME
• Kristin Tollison welcomed the Wayzata Community Partners to the CICC
meeting. It was determined that many of the WCP were already attending both
the WCP meetings and the CICC meetings, so the meeting are now combined and
all WCP are welcomed to join the CICC meetings.
STATE OF COMMUNITY
• Benefits of the new IOCP facility to the clients, families, and the community,
ability to provide services combined in one location, allowing the on-site partners
to share resources including Community Education and Hennepin County.
• The learning component connected to the IOCP facility is able to create links in
services to clients. This was achieved with School Board, Hennepin County and
other community partnerships working together, sharing and combining
resources, to create a seamless team of services for IOCP families.
TOUR OF IOCP FACILITIES
• Business and Community Offices
• Community Education
• Peppermint Fence West
• Food Shelf
• ReSale 101 Boutique
COMMUNITY UPDATES
Caring for Kids Initiative
Page 21
• Brenda Heim announced that the Family Fun Night Event was a success. The
event was attended by 200+ people, including 10-12 CfKI scholarship families.
• The Event was held at the Hilde Performance Center in Plymouth and consisted
of a Walk/Run, Book Exchange, Story time with Miss MN USA, YES Students
provided Games and Crafts, Child Friendly Yoga and concluded with a Movie.
Partners In Prevention
• Judy Hanson reported that Wayzata was the recipient for the Drug Free Federal
Grant in the Partners In Prevention program.
• Includes working with Minnetonka School District as their Community Mentee.
• 2 year process, beginning with assessment phase, focus groups, MN survey data,
and community engagement.
• October 4th Interviews to hire a Coalition Coordinator for the PIP program. This
will be a shared coordinator between Wayzata and Waconia.
Wayzata Community Clinic
• Kristin Tollison stated that the Wayzata Community Clinic is open Wednesday
afternoons, providing barrier free care and services. Including acute care, sports
physicals and immunization services.
• Clinic is averaging about 10 visits per week, high of 18 Wednesday prior to start
of school.
• Dental Services had to cancel one summer date due to low need.
• Kristin/Margy to update marketing materials and distribute.
Early Childhood Special Serives
• Donna Marget reported that about 40 mental health staff members attended PTSD
Trauma training.
Minnetonka Center for the Arts
• Leah Hughes announced that on October 1St, there is an open house at the MCA.
• Holly Nelson was introduced as the Adult Program Director.
CO ;• MCA is partnering with the Tonka CARES Program.
ECT
• Katie Jackelen stated that the Homework Club is looking for volunteers and
tutors.
Partners In Parenting
• Charlene Barghini announced that the Partners In Parenting will hold the
Parenting Forum on February 4th 2012,
Family Learning Center
• Marcia Treno provided an update on the Literacy Matters program and the start of
the Story Time Matters. Volunteers are currently being trained.
Library
• Linnea Fonnest provided Library brochures and stated that the library will begin
providing library users with ebooks for the Amazon Kindle next week.
The meeting was adjourned at 4:32 PM.
Respectfully submitted,
Margy Herbert
2
Page 22
REBECCA OTTO
STATE AUDITOR
STATE OF MINNESOTA
OFFICE OF THE STATE AUDITOR
SUITE 500
525 PARK STREET (651) 296-2551 (Voice)
55
SAINT PAUL, MN 55103-2139 (651) (E (Fax)
state.auditor(k)state.mmus mn.us (E-mail)
1-800-627-3529 (Relay Service)
Volunteer Fire Relief Association
Investment Report Card
The Office of the State Auditor is providing the attached "Investment Report Card" as an
educational tool for your relief association. The report card provides one-year and multi-year rates
of return calculated for your relief association, as well as a custom benchmark rate of return. The
custom benchmark rate of return can be used to measure your relief association's actual investment
performance for 2010 against market returns. This cover document provides information to help
your relief association understand its individualized report card. It does not contain investment or
legal advice and should not be relied upon in lieu of investment or legal advice.
Rates of Return
The one-year rate of return is the return calculated based on your relief association's Special Fund
investments for calendar year 2010. The three-year, five-year, and ten-year rates of return are also
provided, which show the average annual returns for the respective periods.
Custom Benchmark: The custom benchmark rate of return shows what your relief association
could have earned had it invested its assets passively for the entire year. A passive investment
strategy is more commonly called indexing. Indexing is an investment management approach that
seeks to replicate the rates of return of a particular benchmark or index. The management style is
considered passive because portfolio managers do not make decisions about which securities to buy
and sell. Instead, managers simply copy the index by purchasing the same securities included in a
particular stock or bond market index. Index funds are widely available for stocks and bonds (e.g.,
Russell 3000, Barclays Capital Aggregate). For cash, a relief association could invest in a money
market fund or shop for the highest returning certificate of deposit.
The benchmark return is calculated for your relief association by multiplying your association's
asset class proportions by the rate of return earned on a common benchmark index for each asset
class. If your relief association changed investment strategies during the year, the calculated
benchmark return does not reflect the changes.
Benchmark Calculation Example:
January 1, 2010 Asset Allocation
Benchmark
Return
(a) x (b)
a)
c)
Domestic Stock
50.0%
Russell 3000
16.9%
8.5%
International Stock
11.4%
MSCI ACWI ex. U.S.
11.2%
1.3%
Bonds
9.9%
Barclays Capital Aggregate
6.54%
0.7%
Cash
28.2%
90 -Day U.S. T -Bill
0.1%
0.0%
Other
0.5%
Russell 3000
16.93%
0.1%
Benchmark Return
I Sum c =
1 10.6%
Page 23
Asset Allocation
The beginning of year and end of year asset allocations show the percentage of your relief
association's portfolio that was invested in various asset classes. By diversifying an asset base, the
goal is to create a favorable risk/reward ratio for the portfolio. When returns for one asset class
decline, the expectation is that returns for another asset class will increase, offsetting the loss. The
"other" asset class includes all investments besides cash, stocks, and bonds, including small
allocations to this class within mutual funds.
Benchmark Information
Rates of return are provided for each index used to calculate your relief association's custom
benchmark rate of return. Rates of return for the State Board of Investment accounts are also
provided for reference purposes.
2010 Index Returns: The benchmark indices used to calculate your relief association's custom
benchmark rate of return are provided in the Benchmark Information section of the attached report
card, along with the rate of return for each respective index.
• Russell 3000 Index — A performance measure of the overall U.S. stock market. This index
includes the 3000 largest publicly traded U.S. companies.
• MSCI ACWI ex. U.S. Index — A performance measure of international stocks, including
developed markets and emerging markets. This index does not include the U.S. stock
market's performance.
• Barclays Capital Aggregate U.S. Index — A performance measure of the U.S. investment
grade bond market, including corporate and government bonds.
• 90 -Day U.S. T -Bill — A performance measure of short term cash investments.
2010 State Board of Investment Returns: Relief associations are authorized to invest assets in the
State Board of Investment (SBI) Supplemental Investment Fund. There are six investment accounts,
or investment options, within the Supplemental Investment Fund that are available for relief
association investment. It is not the intent of the SBI to advise relief associations regarding their
choice among accounts. Relief associations may wish to consult an investment advisor for guidance.
The SBI Returns section of the attached report card provides the rates of return for the six SBI
accounts. The SBI rates of return serve as a good benchmark for your relief association, showing
returns that were available during 2010. The six accounts are listed below.
• Bond Market Account — Bonds
• Common Stock Account — Domestic Stock (Passively Managed)
• Growth Share Account — Domestic Stock (Actively Managed)
• Income Share Account — Balanced
• International Share Account — International Stock
• Money Market Account — Cash
Page 24
REBECCA OTTO
STATE AUDITOR
STATE OF MINNESOTA
OFFICE OF THE STATE AUDITOR
SUITE 500
525 PARK STREET
SAINT PAUL, MN 55103-2139
Investment Report Card
Plymouth Fire Relief Association
For the Year Ended December 31, 2010
Rates of Return
(651) 296-2551 (Voice)
(651) 296-4755 (Fax)
state.auditorkstate.mn.us (E-mail)
1-800-627-3529 (Relay Service)
One -Year 11.9%
Three -Year 1.6%
Five -Year 4.3%
Ten -Year 3.5%
Custom Benchmark (One -Year) 11.3%
Asset Allocations
Domestic Stock
International Stock Bonds
Cash Other
As of 01/01/10 45.1%
12.1% 34.1%
8.2% 0.5%
As of 12/3 1 /10 47.4%
11.3% 34.2%
7.1%
Benchmark Information
2010 Index Returns
2010 State Board of Investment Returns
Russell 3000 (Domestic Stock)
16.9%
SBI Bond Market 9.0%
MSCI ACWI ex. U.S. (International Stock)
11.2%
SBI Common Stock 17.3%
Barclays Capital Aggregate (Bonds)
6.5%
SBI Growth Share 16.9%
90 -Day U.S. Treasury Bill (Cash)
0.1%
SBI Income Share 13.4%
Russell 3000 (Other)
16.9%
SBI International Share 12.3%
SBI Money Market 0.2%
This Investment Report Card is provided for informational purposes and should not be construed as containing investment or legal advice, and its contents are subject to reOsH& 25