HomeMy WebLinkAbout06-27-1994 EDA1. CALL TO ORDER
2. ROLL CALL - Linke
Quick Wuori
Blanchard Trude
K�: • • : �iil_� 1C�) �7_��_\
EDA ACTION: ATD
Comments:
4. APPROVAL OF MINUTES: June 13, 1994
EDA ACTION: ATD
Comments:
S. CONSENT AGENDA
No items on consent agenda.
i� . __ �:� �: : . . ____ :-_ _ _ _ _-.. �.:_ - ,
EDA
PAGE TWO
JUNE 27, 1994
6. PUBLIC HEARING
No public hearing scheduled for this meeting.
EDA ACTION: ATD
Comments:
f���7: : -��T.Y.�
A. Consideration of EDA Resolution No. 94-EDA 10 Approving
and Authorizing the Execution of a Revised Development
Agreement with the Everest Group, Ltd, Regarding Multi-Tech
Expansion, EDA Staff Report No. 94-16
EDA ACTION: ATD
Comments:
B. Consideration of EDA Resolution No. 94-EDA 11 Approving
and Authorizing the Execution of a Revised Development
Agreement with the Everest Group, Ltd, Regarding C.G. Hill
& Sons, Inc., EDA Staff Report No. 94-17
EDA ACTION: ATD
Comments:
8. REPORTS:
Report of EDA Board Members:
l. Report of President Linke:
r . T� .
� � -_
EDA
PAGE THREE
JUNE 27, 1994
�
3.
4.
5.
Y,- �
. � _ . �. � __ __ � ., . . � �
Report of Vice President Blanchard:
Report of Secretary Wuori:
Report of Commissioners:
�
�
Commissioner Quick:
Commissioner Trude:
Report of Executive Director:
6. Report of Treasurer:
� ��� '_' ' .. _i ��_. ; -' �u:_�� � , . . �'�,:_. -� ` 1��= .� . G :t_ -__'_— ":..: _..� - __ _. .�.. ��= .�__. �.. _ __.�,..
M�UNDS VIEW ECONOMIC DEVE�.OPIV�ENT AUTH4RI'i'Y
REQUEST FOR EDA CONSIDE�2ATiON
STAFF 1�EPORT
EDA MLLTING DAT� June 27, 1994
EDA Action:
❑ Special Order of Business Agenda Sectiou: �• A
❑ Public Hearings Report Number:EDA-94-16
❑ Cunsent Agcncla Rcpurt Datc: 6-23-94
� CDA Busiucss
Itent Dc:scriptiou: Consideration of EDA Resolution No. 94—EDA10 Approving and Authorizing the
Execution of a Revised Development Agreement with the Everest Group, Ltd, Regarding
Executive Director's Review/Recommenda[ion:
- Nc� comments to supplement tliis report
- Cotuiiicuts attaclie�
L.X�J�II118IIOl1�SUIIlIlltlry (allach supplcnicul shec[s ;u nca;ssary)
SII1�Yi�WRY:
At th� .lun� 6, 1994 w�>rk ti�stiion th�re was a CIItiCUtitilO❑ I'C�tll'(�lll�� Multi-Tech's a��reement with Gverest for I�urchase of the
remainin�� so-�allael "Wast�" ��roperty. 1'hiti ��ro��erty is ad.jacent to Multi-Te�h's curr�nt facility ancl has he�n referred to, hy
EVCI'CtiI, as tlic; sit�. 1�c�r huilclin�� K. This aclditional property consist of a����roximatlCy 5. 13 acres xnd ��otentially will hc: used
ti>r x thircl-�hase fa�ility r;x��ansion by Multi-Te;ch in th� future.
The rctiolution ti�r your con�icleration notes fllt. CCV(ti1011ti �)LICSLICiIt IO t�1C �ifJdl'CCIIlCI7C ahove. Thosc; r�veisions are as tollows:
I. Noteti the sale to Multi-Tech of approximatley 507,31G syuare feet of real prc���erty as opposed to the 279,409 square f�et
� UIl(ICf IIIC �)CIOI' VG:tiIOIl Ut tI1C x��reement. , �
2. ns a I'CtiUII O� IIIC Clllll'C �)LII'Cll�ltiC, there is no rexson for re��latting c>r tiubdivision of the prorerty and therefore no park
cl�clication t���s xrc reyuirecl until such time as Multi-Tech d�t�rmines to ��lat thc ��re>��Crty. Therefore, the contingency
with re��arcls to the ��ark cleclications fees has been r�solved by the acloption of the rcvis�el resolution.
All othcr conditions of Ihe el�velo��ment a�!reement remain thr. same as presentecl on May 23, 1994.
Cathy Bcnn , �onomic Dd���Ic���mCnt Coorclinator
RI?COi�Ii�tEND�TIO�l:
Mc>ticm to �vaivu thr. rraclin � an�l a����rovc/�lisa����rc>ve Resc�lution No. 94-EDA10 A����rc�vin�� xncl Authorizing the Execution
i�l �i Rcvitir.�l Drvclo��m�nt A��reCment �vith thr. Gverc;tit Grou��, Ltcl,
Rc�s�r�lin�r Multi-T�r.h Ex���uision.
.�� .. .. ,-- . . :- z�---. f, . . ° - �. G_: .. . . _ . � : _ _ �_.=_„'�_—_"� . t.= �
_ _ .�__ _�, V��— ----"`s5u`' ° ...- '-' . -.r------ ' —� -.'- .
t`�i SOLUTIOlv l�TOo 9�-ie.Dt�il(Z
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION A.PPROVING AND AUTHORIZING THE EXECUTION OF A
REVISED DEVELOPMENT ASSISTANCE AGREEMENT WITH THE EVEREST
GROUP, LTDe, REGARDING MULTI-TECH �XPANSION
It i.s hereby resolved by the Board of Commissioners (the
"Board") of the Mounds View Economic Development Authority (the
"Authority") as follows:
la Recitals.
(a) The Authority has the powers provided in Minnesota
Statues, Sections 469.124 to 469a134 and 469.090 to 469.108
(collectively, the "Act").
(b) Pursuant to and in furtherance of the objectives of the
Act, the Authority has undertaken a program to promote development
and redevelopment of certain land within the City of Mounds View
and in this connection is engaged in carrying out the Mounds View
Economic Development Project (the "Project") within the City.
(c) There has been approved pursuant to the Act a Project
Plan for the Project.
(d) The redevelopment and development of property within the
Project by private developers are stated objectives of the Project
Plan.
(e) In order
the Authority has
assistance through
development.
to achieve the objectives ot the Project Plan,
determined to provide substantial aid and
the financing of certain of the public costs of
(f) The Everest Group, Ltd. (the "Developer"), has presented
the Authority with a proposal for the completion of certain
improvements within the Project, consisting generally of the
construction of an approximately 60,000 square foot expansion of
the Multi-Tech facilities in the City and certain Development
Assistance Agreement between the Authority and the Developer (the
"Development Agreement" - dated June 15, 1994 draft) stating the
terms and conditions thereof and the Authority's responsibilities
respecting the assistance thereof has been presented to the Board
for its consideration.
(g) The Development Agreement is revised from the similar
agreement which was approved by the Board on May 23, 1994, in that
the Development Agreement now provides for the sale to Multi-Tech
of approxi.mately 507,316 square feet of real property (as opposed
to the 279,409 square feet under the prior version of this
agreement)e
2o The Board hereby determines that the Authority's
execution and performance of the Development Agreement would be in
� _
- - , � .� _. _
` —___ —�.� i � '.fi-�.y - . � Y��� ... .;.. ._. . ,_ _ - . . . _". _.—
. _.. _-..� _. ..�.ai.4 --r....... __'__ ' _'" " '
{
�
�urtnerance or �he Projec�c plan and �ereby approves tne Development
Agreement sub�tantially in the form present�d to the Board and
hereby authorizes the o�ficers of the Authority in their discretion
and at such time, if any, as they may deem appropriate to execut�
the same on behalf of the Authority, with such additions and
modifications as those officers may deem desirable or necessary, as
evidence by their execution thereof.
3. Upon execution and delivery of the Development Agreement,
the officers and employees of the Authority (including members of
the City staff, acting in their capacity as staff ta the Authority
as well) are hereby authorized and directed to take or cause to be
taken such actions as may be appropriate or necessary on behalf of
the Authority to implement the Development Agreement, including
without limitation issuance of the EDA Note and execution of the
Certificate of Completion under the Development Agreement.
4. The Board hereby determines that the execution and
performance of the Development Agreement will help realize the
public purposes of the Act and are in furtherance of the Project
Plan.
Adopted by the Board of Commissioners of the Mounds View Economic
Development Authority June 27, 1994
Attest:
President
(SEAL)
Executive Director
_ � �
� < _-- � _. � .�.
�---- -=-_ ------ � �=--_ - - � -• . _.�u:� : - __ -- --- ���� ` - - �
Clerk's Certificate
I, �he undersigned, being the duly qualified and acting Cler}c
of the Mounds View Economic Development Authority, do hereby
certify that I have carefully compared the attached and foregoing
resolution adopted at a special or regular meeting of the Board of
Commissioners of said Authority duly called and regularly held on
the date therein indicated with the original thereof on file in my
office and i further certify the same is a full, true, and correct
copy thereof, insofar as the same relates to the approval of a
c2rtain Development Assistance Agreement between the Authority and
The Everest Group, Ltd., respecting a certain expansion project for
Multi-Tech.
I furth�r certify that Boardmember moved the
adoption of said resolution, that Boardmember
seconded said motion, and that upon a vote being taken thereon, the
following Boardmembers voted in favor thereof:
and the following Boardmembers voted against the same:
whereupon said resolution was declared duly passed and adopted.
WITNESS my hand as such Clerk of said Authority this day
of , 1994.
Clerk
Mounds View Economic
Develonment Authority
26b348.1
il�
�
MO�JI*�1DS VIEti�V ECONOMIC DEVELOPMEN�' AU'THORITY
REQUEST FOR EDA CONSIDERATION
STAFF REPORT
EDA MEETING DA`IL June 27, 1994
EDA Action:
❑ Speciai Order of Business Agenda Section: �' B
❑ Public Hearings Rcport Number: EDA-9 -
❑ Cunscnt Agcncia Rcpc�rt Datc: 6-23-9
� LDf� Busii�css
Item pcscriptiou: Consideration of EDA Resolution No. 94-EDA 11 Approving and Authorizing
the Execution of a Revised Development Agreement with the Everest Group, Ltd, Regarding
• V• 11111 l% J V a1.7 y •
se;cutive Director's Review/Recommendation:
- No comments to supplement tl�is report
- Cu�iinictits attac:(��cl
Lspl.11l:l[lOtl%SUIIIRI£lry (;utach supplcntent shccts :u nccessary)
S UMNIARY:
f�c�r yc�ur ccrosicleraition i� a revisecl clevelo��ment x��reement with Gverest for the C.G. Hill Project. The agreements remain
suhst�uitially xs they were preti�nt�cl ��nd x����rovc� at the EDA IIICCIIII� on May 23, 1994. "l�he minor revisions are as follows:
I. The definition for "C.G. Hill" is continnecl as C.G. Hill & Sons, Inc. x Minn�sota cor��oration.
2. The �evelo��ment a��re�mc;nt now s��ecifies Nlat C.G. Hill will own the property and will occupy the im�rovement rrt tlle
�r�i�c� ��'lhc� At�tl�ur•iry'.e c�xc�cciriuri c�'Ihc� Cc�rtificrr�rui� uf'C<�u�/�letion.
In aciclition, Everetit has a��reecl to ��ay Park Declicatio�i fees in the full amotuit for the 2.64 xcreti that will be developed for the
C.G. Hill ��roject hasCCl upon appraisal concluced hy McKinsi� Meh�o A��praisal dated May 23, 1994. Park Dedication fees for
die xdditional suhclivisic>n will hC ��aid based upon the fair mxrl<et value at th� timc the property is develored. According to
Paul Harrin��tc>n, Cc�mmunity Developmc.nt Coordin�tor, the agreement to pay the; park dedication fees hy Everest has been
fCVICWCCI I)y J1111 TI10111�)tiUll. City Attorney, ancl is cle�mc;d fair ancJ equitahlc.
Tlie x«reement is still contin��ent u��on ��ayment in (�ull ot� the Park Dedication fees in xn amount acce�table by the City. All
c�U�er r.un�iticros uf the developm�nt a��rc;cmznt remain the same �is presentecl on May 23, 1994.
Cathy BeyrfS�t�/ Lcc�nomic De;vele>��ment Cc>orclinator
RrC01�IliEyDATIOy:
Mution tc� �vaiv� thr. r�aidin�� xn�l a����rcive/clisa����rove Resolution No. )4-EDAI I A����r��vin�� xncl Authorizin�� the Execution
��� <i IZCVItiCII DLVZIO�)I11CIll AiTICCIl1CIlt �VIII] (I1C Everest Grottp, Ltd, Regarding C.G. Hill � Sons, Inc.
, __ _
: , . __ � v :- -- - - - - _ _ .��
_ _ _ � __
:<.—_ �.: ` --- . .�.�.�. ..,..,_ • --- ---- _ ,.
��S�LUTION i�i0 0 94-EDAI l
CITY OF MOUNDS VIEW
COURTTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTIOI�I APPROVING AND AUTHORIZIPTG THE EXECUTION OF A
REVISED DEVELOPMENT ASSISTANCE AGREEMENT WITH THE E'VEREST
GROUP, LTD., REGARDING C.G. HILL PROJECT
It is hereby resolved by the Board of Commissioners (the
"Board") of the Mounds View Economic Development Authority (the
"Authority") as follows:
1. Recitals.
(a) The Authority has the powers provided in Minnesota
Statues, Sections 469.124 to 469.134 and 469.090 to 464e108
(collectively, the "Act").
(b) Pursuant to and in furtherance of the objectives of the
Act, the Authority has undertaken a program to promote development
and redevelopment of certain land within the City of Mounds View
and in this connection is engaged in carrying out the Mounds View
Economic Development Project (the "Project") within the City.
(c) There has been approved pursuant to the Act a Project
Plan for the Project.
(d) The redevelopment and development of property within the
Project by private developers are stated objectives of the Project
Plan.
(e) In order
the Authority has
assistance through
development.
to achieve the objectives of the Project Plan,
determined to provide substantial aid and
the financing of certain of the public costs of
(f) The Everest Group, Ltd. (the "Developer"), has presented
the Authority with a proposal for the completion of certain
improvements within the Project, consisting generally of the
construction of an approximately 30,000 square foot building in the
City for C. Ga Hill & Sons, Inc ., and certain Development Assistance
Agreement between the Authority and the Developer (the "Development
Agreement" - dated June 15, 1994 draft) stating the terms and
conditions thereof and the Authority's responsibilities respecting
the assistance thereof has been presented to the Board for its
consideration.
(g) The Development Agreement is revised from the similar
agreement which was approved by the Board on May 23, 1994, in that
minor revisions were made to the definitions regarding C.G. Hill
and the Development Agreement now specifies that C.G. Hill will own
the property at the time of the Certificate of Completion from the
Authority.
2. The Board hereby determines that the Authority's
execution and performance of the Development Agreement would be in
�
: _ _ . ... r- _ _____ _ __ : _ �
_ . : _>_ _, _ _..__ _ � _
„ _ _ _ _ _ _ _ _ _ _. _: _-_
-- =� - - ----, - -- _ i
furtherance of the Project plan and hEreby approves th� D2velopment
Agreement substantially in the form presented to the Board and
here�y authorizes the officers of the Authority in their discretion
and at such time, if any, as tney may deem appropriate to execute
the same on behalf of the Authority, with such additions and
modifications as those officers may deem desirable or necessary, as
evidence by their execution thereof.
3. Upon execution and delivery af the Development Agreement,
the officers and employees of the Authority (including members of
the City staff, acting in their capacity as staff to the Authority
as well) are hereby authorized and directed to take or cause to be
taken such actions as may be appropriate or necessary on behalf of
the Authority to implement the Development Agreement, including
without limitation issuance of the EDA Note and execution of the
Certificate of Completion under the Development Agreement.
4. Approval of the Development Agreement is contingent upon
the successful resolution with the City of the Park Dedication fee
payment and payment amounts.
5. The Board hereby determines that the execution and
performance of the Development Agreement will help realize the
public purposes of the Act and are in furtherance of the Project
Plan.
Adopted by the Board of Commissioners of the Mounds View Economic
Development Authority June 27, 1994
Attest:
President
(SEAL)
E�ecutive Director