Standard & Poor's Rating Services has downgraded Dakota County and its Community Development Agency's credit ratings of AAA to AA+.
The downgrade was the result of a late interest payment on an $8.1 million bond. County officials expected to get a summary from the Depository Trust Co., a financial services agency, notifying them of the need for a $175,000 interest payment. They did not get that summary.
"It's really quite disappointing and difficult to understand," county Financial Services Director Stephanie Shawback said, because the county is in a good place financially.
The downgrade could affect the Community Development Agency's borrowing rates.
The county's rating from Moody's Investors Service remains at AAA.
Jessie Van Berkel
EDINA
Bees and chickens are a go
The buzz in Edina is the passage of a new law allowing residents to keep bees in their back yards. The City Council last week passed the ordinance on a 5-0 vote. Also passing without a squawk was a companion ordinance allowing residents to keep egg-laying hens. Both ordinances will go into effect on official publication, expected this week.
"I look forward to seeing many hens and apiaries in Edina in the future," said Dianne Plunkett Latham, chairwoman of the Local Food Working Group of the city's Energy and Environment Commission.
JOHN REINAN
HENNEPIN COUNÂTY
Watershed district board decision is delayed
Hennepin County comÂmisÂsionÂers are postÂponÂing the deÂciÂsion on apÂpointÂing two spots to the MinÂneÂhaÂha Creek WaÂterÂshed District board unÂtil April 14.
The County Board was exÂpectÂed to apÂpoint two peoÂple to the waÂterÂshed board, which govÂerns the 181-square-mile waÂterÂshed disÂtrict, last week, but not all comÂmisÂsionÂers were presÂent or at their next meetÂing March 31.
The disÂtrict, which manÂagÂes waÂter reÂsources in 27 citÂies — from MinÂneÂhaÂha Falls to Lake Minnetonka — has two spots up for apÂpointÂment on its seven-memÂber board. ConÂtroÂverÂsy the past year over the waÂterÂshed's leadÂerÂship spurred 11 apÂpliÂcants for the open spots. Some west-metÂro mayors have called for new leadÂerÂship, and the board has reÂmained diÂvidÂed on leadÂerÂship isÂsues since oustÂing its top leadÂer in a split 4-3 vote last April.
KELLY SMITH
Minneapolis
RivÂerÂfront land buy OK'd
Minneapolis park comÂmisÂsionÂers voted 7-0 WednesÂday to buy a piece of West Bank propÂerÂty on the city's upÂper rivÂerÂfront for $2.5 milÂlion.
The purÂchase of the formÂer Japs-Olson buildÂing adÂjaÂcent to the west end of the LowÂry Avenue Bridge repÂreÂsents the first land deal since aÂdopÂtion of an upÂper rivÂerÂfront masÂter plan 15 years ago.
"It's a great, great day," said North Side Commissioner Jon Olson. "It's been difÂfiÂcult to acÂquire propÂerÂty on our side of the rivÂer. I want to thank folks in my disÂtrict for beÂing paÂtient."
The Park Board plans to eÂvenÂtuÂalÂly acÂcuÂmuÂlate enÂough land or easeÂments to exÂtend recÂreÂaÂtionÂal paths and a parkÂway northÂward from Ole Olson Park to the CamÂden area.
Steve Brandt
Oak Park Heights
Open houses set on bridge
Two public meetings to present the latest stages of St. Croix River bridge construction will be held Tuesday in Oak Park Heights.
The four-lane bridge, 2 miles downriver from Stillwater, will open in late 2016. It will connect Hwy. 36 in Oak Park Heights with Hwy. 35 in St. Croix County, Wis. Project staff will be present to discuss:
• Minnesota's 2015 construction schedule for approach highways, which includes completing all driveway construction, local road connections, paving, finishing touches such as striping, and trail construction.
• Wisconsin's 2015 construction schedule for approach highways.
• What's coming for bridge and loop trail construction.
Tuesday's meetings will be held from 12:30 to 2 p.m. and from 4:30 to 6 p.m. at City Hall, 14168 Oak Park Boulevard N.
Kevin Giles