04-25-2005 - Laserfiche WebLink

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Mounds View EDA April 25, 2005 Regular Meeting Page 4 o City Clerk/Administrator Ulrich indicated that the likely sources for funding would include the current tax increment pool; tax increments generated by the site in terms of fees; and capital funds from the Enterprise Funds. He stated that there would not be any interruptions to the businesses located along County Road J during the construction. He stated that the Franchise fee, which is estimated to be $80,000, is approved annually by the City Council adding that there is no guarantee that it would continue for the 25-year timeframe. • Question: Costs to provide Police and Fire services to the property. o Answer: City Clerk/Administrator Ulrich stated that in reviewing the spreadsheets the initial costs to provide service would be approximately $30,000 with an additional $50,000 in administrative costs, over time, to service approximately 3000 employees. He noted that Medtronic has an onsite security force, which would help reduce costs. • Question: How much has been spent so far exploring and researching this project. o Answer: City Clerk/Administrator Ulrich stated that the City has spent $221,000. He stated that 60-percent of the cost relates to the development of the project and land surveys and 40-percent is specifically for Medtronic to run the numbers for the project. • Question: What is the status on the Billboards? o City Clerk/Administrator Ulrich stated that they are currently in negotiation for the best deal for the City in terms of the least cost. He noted that of the 72 acres from MnDOT, 32 acres is currently transferable and they have title for the land. He stated that over the last couple of years the City has been reviewing options to enhance the City. He stated that one of the issues has been the golf course because of the situation it was in prior to the revenue it gained from the billboards. He stated that at this time, in reviewing the Medtronic proposal, the City is emphasizing this. He assured the Community that the City is not pursuing anything else at this time due to the ongoing negotiations. City Clerk/Administrator Ulrich stated that there has been some discussion about the possibilities of Phases 2 and 3 of the Medtronic project being developing in Blaine. He noted that Medtronic has indicated that it is their desire to also develop the Phase 2 and Phase 3 campuses in Mounds View, as there would not be a tax increment back to the developer if developed in Blaine. He stated that there would be a significant park dedication of $600,000 proposed for the project that would be donated by Medtronic to the Park Dedication Fund. He indicated that $160,000 of the funds would be used for the former Cisco property. He stated that the Concepts are available to the public for review noting that it includes both the walking trails and the environmental park. City Clerk/Administrator Ulrich stated that this hearing is one of several that will be held on this issue. He emphasized that a decision has not yet been made. He stated that Staff is keeping the best interest of the City at heart while working through the process with Medtronic. He clarified that the City Council provides direction to Staff throughout the negotiation process and are a part