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 COUNTY
Watershed district board decision is delayed
Hennepin County commissioners are postponing the decision on appointing two spots to the Minnehaha Creek Watershed District board until April 14.
The County Board was expected to appoint two people to the watershed board, which governs the 181-square-mile watershed district, last week, but not all commissioners were present or at their next meeting March 31.
The district, which manages water resources in 27 cities — from Minnehaha Falls to Lake Minnetonka — has two spots up for appointment on its seven-member board. Controversy the past year over the watershed's leadership spurred 11 applicants for the open spots. Some west-metro mayors have called for new leadership, and the board has remained divided on leadership issues since ousting its top leader in a split 4-3 vote last April.
KELLY SMITH
Minneapolis
Riverfront land buy OK'd
Minneapolis park commissioners voted 7-0 Wednesday to buy a piece of West Bank property on the city's upper riverfront for $2.5 million.
The purchase of the former Japs-Olson building adjacent to the west end of the Lowry Avenue Bridge represents the first land deal since adoption of an upper riverfront master plan 15 years ago.
"It's a great, great day," said North Side Commissioner Jon Olson. "It's been difficult to acquire property on our side of the river. I want to thank folks in my district for being patient."
The Park Board plans to eventually accumulate enough land or easements to extend recreational paths and a parkway northward from Ole Olson Park to the Camden 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