All posts in the topic Ninth Ward E-News - Friday, October 10, 2008 (Short link)

For more information about the city's finances, click here
<http://www.ci.minneapolis.mn.us/finance/> .

The global financial crisis is already affecting the City of
Minneapolis' finances, but the effects so far are within budgeted
estimates. "The concern will come if these trends continue, as well as
the long term impacts of a slower economy and more people out of work,"
Council Member Gary Schiff said.



About twenty percent or $220 million of Minneapolis' bonds are variable
rate bonds, affected by weekly swings of the bond market. According to
Chief Financial Officer Pat Born, the interest rate at the end of
September was 7.9%, up from 1.6% two weeks prior. That spike in rates
cost the city $220,000. Because the city had budgeted for an average of
5% in interest payments for all of 2008, the rate increase won't result
in layoffs or budget reallocations.



As of last week, interest rates dropped slightly. Born explained that
interest rates would have to stay near 8% for the rest of the year for
there to be a significant effect on the city budget. "It's a signal that
there are problems in the market that we have to look out for," Born
said. "If we thought that this would persist, then we would issue fixed
rate bonds to replace the variable rate bonds. It's good we don't have a
$100 million bond to issue this week because it hasn't been a good week
to be in the bond market. Our next bond issue is planned for
mid-November, and it could be delayed if necessary."



Two other companies in the news this month are being watched by city
finance staff. The city's cash reserves investments include $800,000 in
short-term commercial paper notes from Merrill Lynch and AIG. Despite
the problems of these financial service giants, the notes are guaranteed
by banks and are expected to be paid back on schedule in November.



The city's exposure to the stock market is limited to the police and
fire pension funds. Under State of Minnesota law, the City of
Minneapolis is required to make up any loss in value of those
investments. "It's likely if present trends continue that our
contributions will be more than we thought in 2009," Born said.



Schools, environment and art on November 4 ballot



For information on locating your polling place, click here
<http://pollfinder.sos.state.mn.us/> .



Three ballot questions will appear before Minneapolis voters this year,
overshadowed by the high profile candidate races.



In Minneapolis, residents will vote on whether or not to approve a
property tax increases to provide funding for the Minneapolis Public
Schools. In addition, voters in Minneapolis will be asked their opinion
on a new districting proposal for School Board representation. Voters
from the entire state of Minnesota are voting on an amendment to
dedicate funding for clean water, game and wildlife habitat, arts and
parks and trails.



The Minneapolis Public Schools 2008 Strong Schools Strong City
referendum <http://strongschoolsstrongcity.org/>  would raise $60
million annually for eight years for education, textbooks and
technology. Half of the referendum dollars will go to continue the
district's commitment to managing class size. If the referendum passes,
the average Minneapolis household will pay an additional $17 a month in
property taxes.



Another Minneapolis Public School ballot questions asks voters to change
the School Board from an entirely at-large board to six members elected
by district and three members elected at-large. If the voters approve
the measure, the six districts will coincide with the six Park Board
districts.



All voters in Minnesota will decide the future of the Clean Water, Land
and Legacy <http://www.yesformn.org/>  constitutional amendment. The
amendment will increase the sales tax by three-eighths of one percent
through 2034. Funds will be dedicated to drinking water resources,
wetlands, prairie and forest habitat, as well as arts, cultural heritage
and trails.


Historic hydropower riverfront tour

 E-news Exclusive





The Water Power Park focuses on the Mississippi River's past as an
industrial power source and provides stunning close-ups of St. Anthony
Falls.

As the nation looks to develop more renewable energy sources, hydropower
<http://www.eia.doe.gov/kids/energyfacts/sources/renewable/water.html>
remains the most common example, with a long history of use on the
Minneapolis riverfront.



Ninth Ward E-News readers can have an exclusive peek at this oldest of
green technologies. The first 20 residents who RSVP
<mailto:Suzanne.murphy@ci.minneapolis.mn.us>  will get a one hour guided
tour of the Minneapolis Water Power Park, which is listed on the
National Register of Historic Places. The tour will take place on
Wednesday, October 15 from 3:00 to 4:00 p.m.



The site has provided electricity for over 120 years, and even powered
the city's streetcar system. Information plaques help tell the history
of the falls going back to the first settlers, and how the power of the
river was first used to saw lumber and grind flour. In the late 1800s,
it became home to one of the nation's first electric generating plants,
which was used to light up downtown Minneapolis at the turn of the 20th
century.



The site offers an unmatched view of the St. Anthony Falls from a
vantage point so close that "on many days you can feel the mist from the
falling water," according to Xcel's Paul Adelmann. The Water Power Park
is owned by Xcel Energy and operated by the Park Board. It is open from
approximately March 15 through November 30 and open from 8 a.m. to 30
minutes after sunset.



ShotSpotter system receives federal grant



For monthly maps of ShotSpotter activity, click here
<http://www.ci.minneapolis.mn.us/police/crime-statistics/codefor/shotsfi
red.asp> .



The City of Minneapolis has received half a million dollars from the
U.S. Department of Justice to expand its gunfire detection system,
currently operational in both South and North Minneapolis. The gunfire
detection system, ShotSpotter, uses wireless sensors to detect gunfire.



The money will allow the purchase of new computers that will let squads
receive notice of gun shot locations as soon as they happen. The current
system requires gunshot locations to be routed through 911 operators,
adding potentially life-saving minutes to the dispatch process. Police
say the faster system will not only increase the likelihood of
apprehending a shooter, but safety will be improved by allowing police
to respond with adequate backup.



The new mobile digital computers will also have the capability to stream
video feeds from public safety cameras. "Once the shotspotter system is
integrated with cameras, if a gun shot is fired and detected, any camera
in that area would automatically pan to that location with potential of
capturing the incident on video", said Deputy Chief Scott Gerlicher.
"The new mobile digital computers are a critical piece of equipment
which will allow for these enhancements to our gun fire detection
system."



Oct. 24th Breakfast with Gary: Refugee resettlement





Minnesota is home to more African immigrants and refugees per capita
than any other state.

As immigration concerns dominate political landscapes, the specific
needs of refugee populations are often overlooked. Friday, October's
24th's Breakfast with Gary will explore why 25-50% of Minnesota's
immigrants are refugees, compared to 8% nationally.



Guest speakers include Douglas Johnson, executive director of Center for
Victims of Torture, Hussein Samatar, director of the African Development
Center, and Pham Thi Hoa, executive director of CAPI. They will talk
about the history of refugees
<http://minnesota.publicradio.org/display/web/2007/06/19/refugeeday/>
in Minneapolis and why Minnesota is home to so many refugees
<http://www.citypages.com/2006-01-18/news/the-last-place-on-earth>
including Hmong <http://www.hmong.org/page161511.aspx> , Somali
<http://www.minneapolisfoundation.org/immigration/africa.htm> , and
other communities.



Breakfast with Gary takes place 7:30 - 9:00 a.m. at Mercado Central,
1515 East Lake Street.  $5 buys breakfast. Breakfast with Gary will not
take place November or December due to the holidays.



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