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02-05-1990 WS
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02-05-1990 WS
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7/25/2018 6:21:26 AM
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MV City Council
City Council Document Type
City Council Packets
Date
2/5/1990
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• MEMO TO: MAYOR AND CITY COUNC <br /> FROM: CLERK-ADMINISTRATO Ate0910 <br /> DATE: JANUARY 31, 1990 <br /> SUBJECT: CERTIFICATE OF COMPLETION - MOUNDS VIEW BUSINESS <br /> PARK SOUTH - BUILDING I <br /> Attached please find a letter from Allan Anderson, Vice President <br /> of Finance requesting that the City approve and enter into a <br /> Certificate of Substantial Completion and Release of Forfeiture <br /> for Building I in Mounds View Business Park South. Mr. Anderson <br /> also requests that the City reimburse the Everest Group in the <br /> amount of $704,000 for land buy-down related to Building I as <br /> provided for in the Contract for Private Redevelopment. Finally, <br /> Mr. Anderson further requests that the City reimburse Everest <br /> Investments Ltd. Partnership in the amount of $113, 938 . 75 for <br /> public improvement costs paid for by Everest pursuant to the <br /> Contract for Private Redevelopment which are costs to be paid for <br /> by the Tax Increment Fund. <br /> As all of these requests are in compliance with the Contract for <br /> Private Redevelopment, Building I has been substantially <br /> completed, and the public improvments have been installed and <br /> • approved by the City Engineer, staff makes the following <br /> recommendations. <br /> 1 . Authorize the Mayor and Clerk-Administrtor to enter <br /> into a Certificate of Completion and Release of <br /> Forfeiture related to Building I, Mounds View Business <br /> Park South. <br /> 2 . Payment of $704,000 in land buy-down costs to be <br /> charged to the Mounds View Business Park South Tax <br /> Increment Fund. <br /> 3 Author-i-ze the reimbursement of $113, 938 . 75 in public <br /> improvement costs paid for by Everest Investments Ltd. <br /> Partnership to be charged to the Tax Increment Fund. <br /> Should you have any questions regarding the above matters , please <br /> let me know. <br /> DFP/MJS <br /> • <br />
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