Cambridge City Council tackled a variety of different projects at its Monday, April 15, meeting.
After listening to a presentation on the need for day care in Cambridge in particular and Isanti County in general, the council then heard an audit of its 2023 finances from Andy Hering of Redpath and Company, the St. Paul firm that audits the city’s finances.
Hering said the company issued an “unmodified,” or clean, opinion of the 2023 statements, the best opinion a city can receive. The city received a certificate of achievement for excellence in financial reporting from the Government Finance Officers Association.
Hering added that his company found no issues with the city’s internal controls and no problems with the city’s compliance with Minnesota state statutes.
The city’s key financial indicators, according to Hering, included the property tax collection rate set at 99.22%; the city’s outstanding debt decreased by $3.2 million to $28.6 million; and the city’s liquor operations generated $675,000 in cash flow.
The meeting then focused on Cambridge’s 2024 street improvements along Central Drive Trail. Douglas-Kerr Underground in Mora was the low bidder at $4,925,177.49 for the project, which was approved unanimously, as was a joint powers agreement between the city and Isanti Township on the project.
During this portion of the meeting, City Engineer Todd Blank announced that he would be retiring on July 3 after serving 37 years as an engineer, including 28 years with Cambridge.
Marcia Westover, the city’s community development director, then presented the final plat for Cambridge Cove Second Addition. She said this plat will complete the 206-lot subdivision; the first phase was approved in 2021.
After unanimously approving this plat, Moe presented a proposal for seven Cambridge-Isanti high school students to join Tim Bliss, Cambridge Sister City Commission member, and former Cambridge-Isanti teacher and coach Mike McDonald on a trip to Beli Manastir, Croatia, one of three sister cities to Cambridge.
The students will pay airfare, while Beli Manastir will provide all food, lodging and ground transportation. The only city money involved was a gift not to exceed $300 in value to be given by Bliss to the city of Beli Manastir.
One of council’s final acts in the meeting was to unanimously approve two interest rate subsidy applications for two downtown businesses. Cambridge Bar and Grill will pay 5% interest on $150,000 over 10 years of its loan for renovations, while Happy Productions will pay similar amounts to refinance the building and make renovations, including a listening room.
That rate of 5% on $150,000 over 10 years are the maximums for this city program, which is meant to spur downtown development.
Deputy City Administrator Alex Smith, who presented the two requests, said she expects more applications to come forward in July.
Most Popular
Comments / 0