HomeMy WebLinkAboutResolution 6564
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RESOLUTION NO. 6564
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
CITY OF MOUNDS VIEW RESOLUTION APPROVING
PURCHASE AGREEMENT AND CONTRACT FOR PRIVATE
DEVELOPMENT BETWEEN CITY OF MOUNDS VIEW,
MOUNDS VIEW ECONOMIC DEVELOPMENT
AUTHORITY AND MEDTRONIC, INC.
BE IT RESOLVED by the City Council ("Council") of the City of Mounds View as
follows:
Section 1.
Recitals.
1.01. The City of Mounds View (the "City") has previously established the Mounds View
Economic Development Project (the "Project"), which is currently administered by the Mounds
View Economic Development Authority (the "Authority").
1.02. The Authority and City are considering approval of a tax increment financing plan
("TIF Plan") and a proposed Tax Increment Financing District No.5 (the "TIP District") within the
Project.
1.03. The City owns certain property within the Project legally described as set forth in
Exhibit A (the "Property").
1.04. The City and Authority have received a development proposal from Medtronic, Inc.
(the "Developer") for an office facility (the "Development") to be constructed on the Property which
is located within the proposed TIF District.
1.05. The Developer has proposed to acquire the Property from the City and Authority,
and in connection with that proposal the City and Authority have caused to be prepared a Purchase
Agreement and Contract for Private Development between the City, the Authority and Developer
(the "Contract").
1.06. The Council has reviewed the Contract providing for the sale of the Property, the
construction of the Development on the Property and certain tax increment payments to the
Developer in connection with the Development, and has concluded that the proposed development
is consistent with and promotes the goals and objectives for which the Project was established.
1.07. Pursuant to the Contract the City agrees to convey to the Authority, and the
Authority agrees to subsequently convey to the Developer, the Property described in the Contract,
subject to certain temlS and conditions.
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2.04. The proper City officials are authorized to execute the Contract and take any and all
other steps necessary or convenient in order to carry out the City's obligations under the Contract.
Approved by the City Council of the City of Mounds View this 2ih day of June, 2005.
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Mayor "\
ATTEST:
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City Clerk-Administrator
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EXHIBIT A
Legal Description
Outlot A and Lot 4, Block 1, North Star Industrial Park 2nd Addition, according to
the recorded plat thereof, and situate in Ramsey County, Minnesota.
Lot 16, Block 2, North Star Industrial Park, except the Easterly 40 feet thereof,
according to the recorded plat thereof, and situate in Ramsey County, Minnesota.
That part of Tract A described below:
Tract A.
The South Half of the Northeast Quarter of Section 5, Township 30 North, Range
23 West, Ramsey County, Minnesota;
Which lies northerly and westerly of the following described line: Commencing
at the center of said Section 5; thence north on an azimuth of 359 degrees 23
minutes 10 seconds (azimuth oriented to Minnesota State Plane Coordinate
System) along the north and south quarter line of said Section 5 for 781.42 feet to
the point of beginning of the line to be described; thence on an azimuth of 108
degrees 12 minutes 41 seconds, 231.14 feet; thence on an azim uth of 98 degrees
27 minutes 03 seconds, 1486.78 feet; thence run northeasterly for 447.16 feet on a
non-tangential curve, concave to the northwest, having a radius of 720 feet, a
delta angle of 35 degrees 35 minutes 02 seconds and a chord azimuth of 76
degrees 55 minutes 11 seconds; thence on an azimuth of 59 degrees 07 minutes 40
seconds, 192.89 feet; thence run northerly 398.14 feet on a non-tangential curve,
concave to the northwest, having a radius of 850 feet; a delta angle of 26 degrees
50 minutes 15 seconds and a chord azimuth of29 degrees 26 minutes 05 seconds;
thence on an azimuth of 16 degrees 00 minutes 57 seconds, 303.65 feet to the
north line of said Tract A and there temlinating;
Lots 1,2, 3,4, 13, 14 and 15, Block 1 and Lots 1,2, 3; Lot 4 except the South 60
feet and Lot 5 except the South 222.2 feet, Block 2, LaPort Meadows, according
to the recorded plat thereof, and situate in Ramsey County, Minnesota except
those portions which lie southwesterly of a line run parallel with and distant 100
feet northeasterly of the following described line:
Beginning at a point on the west line of Section 5, Township 30 North; Range 23 west distant
688.09 feet south of the northwest corner thereof; thence run southeasterly at an angle of 142
degrees 35 minutes 45 seconds with said west section line for 1278.48 feet; thence deflect to the
left on a 3 degrees 00 minutes curve (delta angle 33 degrees 39 minutes 25 seconds) for 1121.90
feet; thence on tangent to said curve for 1100 feet and there terminating.
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CITY OF MOUNDS VIE\V
COUNTY OF RA.l\1SEY
STATE OF MINNESOTA
RESOLUTION NO. 6564
CITY OF MOUNDS VIEW RESOLUTION APPROVING
PURCHASE AGREEMENT AND CONTRACT FOR PRIVATE
DEVELOPMENT BETIVEEN CITY OF MOUNDS VIEW,
MOUNDS VIEW ECONOMIC DEVELOPMENT
AUTHORITY AND MEDTRONIC, INC.
BE IT RESOLVED by the City Council ("Council") of the City of Mounds View as
follows:
Section 1.
Recitals.
1.01. The City of Mounds Viev,," (the "City") has previously established the Mounds View
Economic Development Project (the "Project"). which is currently administered by the Mounds
View Economic Development Authority (the "Authority").
1.02. The Authority and City are considering approval of a tax increment financing plan
("TIF Plan") and a proposed Tax Increment Financing District No.5 (the "TIF District") within the
Project.
1.03. The City owns certain property \vithin the Project legally described as set forth in
Exhibit A (the "Propert}"").
1.04. The City and Authority have received a development proposal from I'v1edtronic, Inc.
(the "Developer") for an oilice facility (the "Development") to be constructed on the Property which
is located vvithin the proposed TIF District.
1.05. The Developer has proposed to acquire the Property from the City and Authority,
and in connection with that proposal the City and Authority have caused to be prepared a Purchase
Agreement and Contract for Private Development between the City, the Authority and Developer
(the "Contract.').
1.06. The Council has reviewed the Contract providing for the sale of the Property. the
construction of the Development on the Property and certain ta'\ increment payments to the
Developer in connection with the Development. and has concluded that the proposed development
is consistent with and promotes the goals and objectives for which the Project was established.
1.07. Pursuant to the Contract the City agrees to convey to the Authority. and the
Authority agrees to subsequently convey to the Developer. the Property described in the Contract
subject to certain terms and conditions.
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1.08. The Authority has on June 20, :2005 held a public hearing pursuant to Minnesota
Statutes, Section 469.105 regarding conveyance of the Property to the Developer at \vhich all
interested persons were given an opportunity to be heard.
1.09. The City finds that conveyance of the Property to the Authority is in the public
interest because it will further the objectives of the Project.
1. 1 O. The City tinds that conveyance by the Authority of the Property to the Developer is
in the public interest because it will further the objectives of the Project.
1.11. The Contract provides for certain financial assistance that constitutes a "business
subsidy" within the meaning of I'vlinnesota Statutes, Section 116J.993 to 1 l6.1.995 (the "Business
Subsidy AcC).
1.12. The "business subsidy agreement" as required under the Business Subsidy Act is
included as Article V of the Contract, and the City and the Authority have on June 20. 2005.
conducted a duly-noticed public hearing regarding the business subsidy agreement at which all
interested persons were provided an opportunity to be heard.
l.13. The Council has reviev,.-ed the Contract, including the business subsidy agreement.
and finds that the execution thereof by the City and the Authority and performance of the City's and
the Authority's obligations thereunder are in the best interest of the Authority, the City and its
residents.
Section 2.
Authorization.
::un. The City approves the conveyance of the Property to the Authority. subject to
satisfaction of all terms and conditions of the Contract. and authorizes and directs the Mayor and
Clerk-Administrator to execute the Contract, deed and related documents necessary to carry out
such real estate transaction.
2.02. The City approves the Authority's conveyance of the Property to the Developer,
subject to satisfaction of all terms and conditions of the Contract and authorizes and directs the
Mayor and Clerk-Administrator to execute the Contract and related documents necessary to carry
out such real estate transaction.
2.03. The Council hereby approves the Contract. including all necessary accompanying
agreements included therein, the business subsidy agreement \vithin the Contract. and any tax
increment payment obligations contained therein. in substantially the tonTI presented to the Council
on this date, subject to moditications that do not materially alter the City's or the Authority's rights
and obligations under the Contract and that are approved by the Mayor and Clerk-Administrator and
the Authority's President and Executive Director, \vhich approvals shall be conclusively evidenced
by execution of the Contract.
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2.04. The proper City officials are authorized to execute the Contract and take any and all
other steps necessary or convenient in order to carry out the City's obligations under the Contract.
Approved by the City Council of the City ofl\1ounds View this 27th day of June. 2005.
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Mayor .-1
ATTES/x 6 W
City Clerk-Administrator
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EXlllBIT A
Legal Description
Outlot A and Lot 4. Block 1, North Star Industrial Park 2nd Addition, according to
the recorded plat thereof and situate in Ramsey County, Minnesota.
Lot 16, Block 2. North Star Industrial Park, except the Easterly 40 feet thereof
according to the recorded platthereo[ and situate in Ramsey County, Minnesota.
That part of Tract A described belmv:
Tract A.
The South Half of the Northeast Quarter of Section 5, Township 30 North. Range
23 West. Ramsev Count\'. Minnesota:
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Which lies northerly and \vesterly of the follovv"ing described line: Commencing
at the center of said Section 5: thence north on an azimuth of 359 degrees 23
minutes 10 seconds (azimuth oriented to Minnesota State Plane Coordinate
System) along the north and south quarter line of said Section 5 for 781.42 feet to
the point of beginning of the line to be described: thence on an azimuth of 108
degrees 12 minutes 41 seconds. 231.14 feet: thence on an azimuth of 98 degrees
27 minutes 03 seconds. 1486.78 feet: thence run n011hcasterly for 447.16 feet on a
non-tangential curve. concave to the northwest. having a radius of 720 feet a
delta angle of 35 degrees 35 minutes 02 seconds and a chord azimuth of 76
degrees 55 minutes 11 seconds: thence on an azimuth of 59 degrees 07 minutes 40
seconds, 192.89 feet: thence run northerly 398. ] 4 feet on a non-tangential curve.
concave to the northwest. having a radius of 850 feet: a delta angle of 26 degrees
';0 minutes 15 seconds and a chord azimuth of 29 degrees 26 minutes 05 seconds:
thence on an azimuth of 16 degrees 00 minutes 57 seconds. 303.65 feet to the
north line of said Tract A and there terminating:
Lots 1. 2, 3,4, 13. 14 and 15, Block 1 and Lots 1. 2, 3: Lot 4 except the South 60
feet and Lot 5 except the South 222.2 feet, Block 2. LaPort T\.1eadows. according
to the recorded plat thereof and situate in Ramsey County, .Minnesota except
those portions which lie southwesterly of a line run parallel with and distant 100
feet northeasterly of the following described line:
Beginning at a point on the west line of Section 5. TO\vnship 30 :\orth: Ran2.e 23 west distant
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688.09 feet south of the northv,'est comer thereof: thence run southeasterl,y at an angle of 142
degrees 35 minutes 45 seconds with said west section line for 1278.48 feet: thence deflect to the
left on a 3 degrees 00 minutes curve (delta angle 33 degrees 39 minutes 25 seconds) for 1 ] 21.90
feet: thence on tangent to said curve for 1100 feet and there temlinating.
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