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• <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />•23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />•44 <br />45 <br />CITY COUNCIL WORK SESSION <br />DATE <br />TIME STARTED <br />TIME ENDED <br />MEMBERS PRESENT <br />MEMBERS ABSENT <br />APPROVED <br />CITY OF LINO LAKES <br />MINUTES <br />SEPTEMBER 13, 2005 <br />: September 13, 2005 <br />. 4:30 p.m. <br />. 6:20 p.m. <br />: Councilmember Carlson, Dahl, <br />Reinert, Stoltz, and Mayor Bergeson <br />: None <br />Staff members present: City Administrator, Gordon Heitke; City Engineer, Jim <br />Studenski; Community Development Director, Mike Grochala; Economic Development <br />Coordinator, Mary Alice Divine <br />AMENDMENT TO DEVELOPMENT CONTRACT — LEGACY AT WOODS <br />EDGE <br />Community Development Director Grochala advised in October of 2004 the City Council <br />approved the Contract for Private Development between the Economic Development <br />Authority (EDA), City and Hartford Development, Inc., for the Legacy at Woods Edge <br />project. Hartford Development closed on the City owned property and the Tagg property <br />in December of 2004. <br />Community Development Director Grochala stated under Section 3.5 of the Contract <br />referenced above, the EDA agreed to disburse $1,700,000 to the "Development Property <br />Owners" (an entity related to Hartford Development, Inc.) under certain terms and <br />conditions. Disbursement was a two-step process: the funds were to be placed with an <br />escrow agent after (among other things); the City had approved a preliminary plat for the <br />first townhome development. Then, funds would be disbursed to the Development <br />Property Owner when the City had issued the first building permit for the town homes, <br />and the parties executed Assessment Agreement setting minimum market values for the <br />town homes in an amount sufficient to generate tax increment needed to repay the full <br />$1,700,000 interfund loan. <br />Community Development Director Grochala stated since that time, the original <br />townhome proposal has been withdrawn, and Hartford is working towards City approval <br />of a mixed-use development as the first phase, including 60 units of workforce rental <br />housing with associated commercial space and a separate hotel facility. The current <br />schedule calls for Council consideration of the site plan and final plat for that <br />development on October 12. <br />Community Development Director Grochala advised the other key change since the date <br />of the Contract is that the City has received a Met Council grant in the amount of <br />$750,000, which will reduce the Interfund Loan of City funds by that amount. <br />