07-09-1980 Council Agenda - Laserfiche WebLink

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CS' LITTLE NA' . J;ICE OF E B'..IC HEARL:G 02 A PROPOSAL FOR AN INDUSTRIAL FACILITIES DEVELOPMENT PROJECT Notice is hereby given that the City Council of the City of Little Canada, Minnesota,will meet on the,9th day of July 1900, at 7:45 o'clock P.M., in the Council Chambers of the 'City center located at, 515 Little Canada Road in said City to Consider the proposal of,Mr. Richard J.Grekoff, President of, Cameron Development Company, that the City Assist in financing a pro- ject hereinafter described, by the issuance of industrial development re- venue bonds. PROJECT Mr. Richard J. Grekoff President of, Comeron Development Company an industrial development fine and general contractor, located at 2499 Rice St., St. Paul, Minnesota, 55113, proposes to build four buildings to be used as consumer and industrial self storage warehousing. The buildings consists of, 37,800 square ft. of space, located on 3.89 acres of land bwtween Highway -36 and County Rd. B. and Jackson St. which is East of Rice St. The self storage unite 1s the first phase of an Industrial Planned Unit Development. PROJECT COST. Land Acquisition & Site Development $ 240,000.00 Construction Contracts $ 839,000.00 Equipment Regulation and Installation $ Architectural and Engineering Fees $ 16,000.00 10,500.00 Legal Fees $ Interest During Construction $ 45,500.00 Initial Bond Revenue $ Contingencies $ 15,000.00 Bond Discont or Underwriter $ 18,000.00 City Bond Consultant $ 16,000.00 Total $ 1,200,000.00 The estimated total principal amount of bonds or other obligations to be issued to finance this project 1s, t 1,200,000.00 Said Bonds or other obligations if and when issued will not con- stitute a charge,lein or encumbrance upon any property of the City except the Project and such bonds or obligations will not be a charge against the City's general credit or taxing powers but are payable from sums to be paid by the user of said bonds or obligations pursuant to a revenue agreement. A draft copy of the proposed application to the Commissioner of Securities,State of Minnesota, for approval of the project,together with all attachments and exhibits thereto, is available for public inspection beginning June -27- 1980, from 8:00 o'clock A.M. to 4:30 o'clock P.M., Monday thru Friday, at the City Center,515 Little Canada Road. At the time and place fixed for said Public Hearing,the City Council of the City of Little Canada will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. By Order of the City Council Joseph C. Chlebeck City Clerk 13