Minutes - 2005/07/11 - Laserfiche WebLink

Home Browse Search

Mounds View City Council July 11, 2005 Regular Meeting Page 10 approving the sale of the land comprising The Bridges Golf Course to Medtronic and the contract • for private development. He stated that the items that have transpired since June 27~' include the first meeting of the County road J project group met on July 6`~`; Ramsey County has executed an agreement between itself and S.E.H. for pre-design activities, which began on July 8~' and they are currently doing soil borings along County Road J so this aspect of the project is moving forward. He explained that in order to allow the sale of the land to Medtronic the City will be conveying the property to the EDA and the ordinance is attached for Council review. Mayor Marty opened the Public Hearing at 8:26 p.m. Barbara Haake, 3024 County Road I, stated that when they had Ehlers present there was a reference to $11 million dollars that would be used for a parking ramp in Blaine and asked how the $11 million would be used to purchase the land in Blaine. City Administrator Ulrich explained that there is approximately $24 million in TIF eligible expenses and the amount of the City's subsidies is $14.8 million. He stated that under the agreement the TIF eligible expenses within Mounds View would be paid for first. He stated that part of the Special Legislation allowed tax increment monies to be expended within the project area, which includes the City of Blaine, in the acquisition of properties, which is the $11 million dollars referenced. He stated that if, after all of the Mounds View expenses have been paid, that there is still a portion of the $14.8 million that still has to be paid, it would also be paid for out of the TIF dollars generated by the project, which could include a portion of the $11 million • referenced. Ms. Haake stated that there is a contamination clause in the purchase agreement that is being executed between the City of Mounds View and Medtronic and she asked if the City states that. they are holding Medtronic harmless in the event of future contamination on the land. City Attorney Riggs explained that this was forwarded to her via email and explained that it states that the City has a $200,000.00 cap with a limited scope and time. Ms. Haake noted that under Item 3, M-4 Exhibit, it does set the limitations and the City does agree to indemnify everyone and it sounds like it is forever. She noted that the M-7 Exhibit states that the EDA hereby fully and forever covenants not to sue and that they would release and discharge the indemnity, which would be Medtronic. She clarified that even in the future sometime, regardless of whatever is found, the City is capped at and is responsible for at least $200,000.00 and asked who would be responsible for paying the difference if something is discovered twenty years down the road. City Attorney Riggs stated that the landowner would be responsible for any additional expenses above the $200,000.00, which would be Medtronic. Ms. Haake clarified that the City did get a better deal than what was offered in New Brighton. • City Attorney Riggs stated that after basing this on the phase 1 and phase 2 processes that it is a