Loading...
HomeMy WebLinkAbout05-13-2019CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY OF MOUNDS VIEW, MINNESOTA AGENDA AND NOTICE MOUNDS VIEW CITY HALL NOTICE OF SPECIAL EDA MEETING (OPEN AND CLOSED) Monday, May 13, 2019 4:30 p.m. (Note early Start Time) NOTICE IS HEREBY GIVEN that the Board of Commissioners of the Economic Development Authority of Mounds Views, Minnesota (the “EDA”) will hold a special meeting on May 13, 2019 at 4:30 p.m. (if necessary, such meeting may be continued to immediately following the conclusion of the 6:30 p.m. City Council Meeting or such other date and time as determined by the EDA) in the council chambers at Mounds View City Hall, 2401 Mounds View Boulevard, Mounds View, Minnesota for the following purposes: 1. CALL TO ORDER 2. ROLL CALL: President Mueller, Vice President Gunn, Commissioner Hull, Commissioner Meehlhause, Commissioner Bergeron 3. APPROVAL OF AGENDA 4. CONSENT AGENDA A. Approval of Minutes: 3-11-2019 5. PUBLIC COMMENT Citizens may speak to issues not on tonight’s agenda. Before speaking, please give your full name and address for the minutes. Also, please limit your comments to three minutes. 6. EDA BUSINESS A. Developer Presentation for Skyline Motel Site B. Resolution 19-EDA-322 Approving LHB to conduct a Redevelopment TIF Analysis on the Skyline Motel site and surrounding area. 7. REPORTS 8. NEXT EDA MEETING: May 28, 2019 at 5:30 p.m. 9. CLOSED SESSION -- SKYLINE PROJECT: Pursuant to Minnesota Statutes Sections 13D.05, subdivision 3(c) and 13.44, subdivision 3, to conduct a closed EDA meeting concerning real property located at addresses noted below, to determine the asking price, to consider strategies and to develop or consider offers or counteroffers for the sale of such real property and to review confidential appraisal information for such real property. 4889 Old Highway 8 Mounds View, Minnesota PINs: 17.30.23.14.0001, 17.30.23.14.0002, 17.30.23.14.0003 10. ADJOURNMENT PROCEEDINGS OF THE MOUNDS VIEW EDA 1 CITY OF MOUNDS VIEW 2 RAMSEY COUNTY, MINNESOTA 3 4 Regular Meeting 5 March 11, 2019 6 Mounds View City Hall 7 2401 Mounds View Boulevard, Mounds View, MN 55112 8 9 10 1. CALL MEETING TO ORDER 11 12 President Mueller called the meeting to order at 5:31 p.m. 13 14 2. ROLL CALL: President Mueller, Vice President Gunn, Commissioner Bergeron 15 Commissioner Hull, Commissioner Meehlhause, and Executive Director Zikmund. 16 17 NOT PRESENT: None. 18 19 3. APPROVAL OF AGENDA 20 21 MOTION/SECOND: Gunn/Meehlhause. To Approve the March 11, 2019, Agenda as 22 presented. 23 24 Ayes – 5 Nays – 0 Motion carried. 25 26 4. CONSENT AGENDA 27 28 A. February 25, 2019, EDA Open Minutes. 29 B. February 25, 2019, EDA Closed Minutes. 30 31 MOTION/SECOND: Bergeron/Meehlhause. To Approve the Consent Agenda as presented. 32 33 Ayes – 5 Nays – 0 Motion carried. 34 35 5. PUBLIC INPUT 36 37 None. 38 39 6. EDA BUSINESS 40 41 A. Commercial Investors Group/Choice Hotels Proposal – Skyline Motel Site. 42 43 Assistant City Administrator Beeman explained the EDA was in the process of acquiring the 44 Skyline Motel property. He anticipated the purchase would be completed by May 1st. He 45 Mounds View EDA March 11, 2019 Regular Meeting Page 2 reported the City has been contacted by several developers with proposals for the site. He 1 explained one of those developers has requested to come before the EDA. He noted this 2 developer was proposing to construct a hotel. 3 4 Mike Sowers, Commercial Investors Group, introduced himself to the EDA. He provided the 5 EDA with a PowerPoint presentation on his company and his proposal for the Skyline Motel site. 6 He explained he would be one of the general partners for this project and provided further 7 comment on how a hotel would be developed on this property. He stated he liked the visibility 8 and access available for this site. He described the regional job growth in the healthcare industry 9 in Ramsey County and noted there was a strong demand for a hotel in this area. 10 11 Jaden Ghylin, Choice Hotels, described the market and demand for hotel rooms in Ramsey 12 County noting at this time there was a demand that outweighed the supply. He explained he was 13 proposing to construct a mid-scale hotel in this market. He stated he appreciated the visibility 14 and access available on the Skyline Motel site and believed that a hotel would be the highest and 15 best use for this property. 16 17 Mr. Sowers indicated he was proposing to construct an 80-room hotel with 40 regular rooms and 18 40 extended stay rooms. He discussed the due diligence he would be completing for the project. 19 He provided the EDA with a 3D video of the proposed Choice Hotel and further reviewed the 20 hotel site plan. He commented on the timeline he would be following to close on the property. 21 He estimated the hotel would take eight to twelve months to construct. 22 23 Commissioner Meehlhause asked how the hotel would change if it were changed to an upper 24 mid-scale hotel versus a midrange hotel. Mr. Ghylin reported a different hotel brand would be 25 pursued, such as a Marriot or Hilton. 26 27 Commissioner Meehlhause questioned if Medtronic’s visitors were staying in hotels in 28 downtown Minneapolis. Assistant City Administrator Beeman stated this may be the case and 29 described how Medtronic booked its extended stay hotels for visiting personnel. 30 31 Commissioner Meehlhause inquired what zoning changes would be required for this project. 32 Community Development Director Sevald indicated the site was currently zoned Industrial and 33 would have to be rezoned to B-3 Highway Business. He explained this would require an 34 amendment to the Comprehensive Plan. 35 36 Commissioner Meehlhause asked how many jobs would be created by the proposed hotel. Mr. 37 Ghylin estimated the hotel would generate 15 to 20 jobs long-term jobs. 38 39 Commissioner Bergeron recommended the hotel have meeting rooms. 40 41 President Mueller requested further clarification on how an extended stay hotel was defined. Mr. 42 Mounds View EDA March 11, 2019 Regular Meeting Page 3 Ghylin explained an extended stay hotel was for visitors that were visiting for more than one 1 night, or perhaps those visiting for a week at a time. 2 3 President Mueller questioned how many stories the hotel would be. Mr. Sowers reported he was 4 proposing to have a three-story hotel at this time with 80 units. 5 6 President Mueller suggested the hotel have a workout room, onsite restaurant and laundry 7 facilities. Mr. Ghylin indicated this would move the motel from a limited service hotel to a full-8 service hotel. Mr. Sowers reported the hotel would have laundry facilities and a workout room. 9 10 President Mueller asked who would be managing the hotel after the project was completed. Mr. 11 Sowers explained he would remain a general partner in the hotel and stated a third party would 12 oversee the management of the hotel. 13 14 President Mueller inquired if Mr. Sowers had any other commercial developments or hotels that 15 he had completed in the metro area. Mr. Sowers explained he had recently shifted his business 16 model from residential to commercial developments and noted this would be his first hotel 17 project. 18 19 President Mueller encouraged Mr. Sowers to speak with Steve Markuson from Twin Cities 20 Gateway. 21 22 Commissioner Meehlhause questioned how the zoning on this property could be changed. 23 Community Development Director Sevald discussed the process that would have to be followed 24 to rezone the property. 25 26 President Mueller thanked Mr. Sowers and Mr. Ghylin for their presentation. 27 28 B. Broker Fees Proposal – Keller Williams Real Estate. 29 30 Assistant City Administrator Beeman reported a representative from Keller Williams was present 31 to discuss broker fees for representing the EDA and the Skyline redevelopment site. 32 33 Greg Rance, Keller Williams, explained his company would like to represent the City for the 34 marketing and sale of the Skyline Motel property. He discussed the background of his company 35 and reported Keller Williams was an award-winning establishment. He described how Keller 36 Williams could market the property in order to achieve the highest and best use for the site. 37 38 President Mueller asked what the next steps would be for Keller Williams. Mr. Rance stated he 39 would like the EDA to define the highest and best use for the site prior to Keller Williams 40 marketing the property. He commented medical tech and medical manufacturing would be great 41 uses for this site. 42 Mounds View EDA March 11, 2019 Regular Meeting Page 4 1 President Mueller thanked Mr. Rance for coming before the EDA and noted Assistant City 2 Administrator Beeman would be in touch. 3 4 President Mueller asked if staff had any further comments on the potential purchase of the 5 Skyline Motel. Assistant City Administrator Beeman stated the City Attorney could discuss the 6 difference between an exclusive and non-exclusive sale of this property. He reported the EDA 7 would have to make a determination if they would like to have a professional firm representing 8 the site, or if the EDA believes there was enough interest that the City could market the site 9 itself. He indicated another option would be to create a cooperative agreement and this could be 10 negotiated by staff. He explained staff was seeking direction on how to proceed with the 11 marketing of the site. 12 13 City Attorney Riggs provided the EDA with the definition of an exclusive and non-exclusive sale 14 of the property. He described what occurred during the Medtronic sale and noted the City had 15 not pursued exclusive sales in the past. 16 17 MOTION/SECOND: Meehlhause/Gunn. To Recess the EDA Meeting to reconvene after the 18 City Council Meeting. 19 20 Ayes – 5 Nays – 0 Motion carried. 21 22 President Mueller recessed the EDA meeting at 6:28 p.m. 23 24 MOTION/SECOND: Gunn/Bergeron. To Reconvene the EDA Meeting. 25 26 Ayes – 5 Nays – 0 Motion carried. 27 28 President Mueller reconvened the EDA meeting at 6:47 p.m. 29 30 Assistant City Administrator Beeman provided the EDA with a summary on the hotel concept 31 Commercial Investors Group/Choice Hotels was proposing for the Skyline Motel site. He 32 explained staff was seeking direction on how to proceed with the sale of this property or if staff 33 should seek assistance with the marketing and sale of the property. 34 35 Commissioner Gunn stated she did not believe the City needed a brokerage firm to assist with the 36 marketing and sale of this property. She noted the City did not have a broker when the 37 Medtronic project was completed. She indicated she liked the idea of having an extended stay 38 hotel on this site as it would be a new option for the community. She anticipated those visiting 39 Medtronic would appreciate having an extended stay hotel option in Mounds View. 40 41 Commissioner Meehlhause explained he appreciated selling this property for redevelopment as 42 Mounds View EDA March 11, 2019 Regular Meeting Page 5 quickly as possible. He commented this would allow the EDA to recoup its investment while 1 also putting the property back on the tax rolls. In addition, he would like to see this site 2 redeveloped prior to the development of TCAAP. He commented further on how Mounds View 3 benefits from hospitality tax. 4 5 Commissioner Hull stated if the EDA were to receive two other proposals it would allow for 6 greater comparison and contrast of the concept plans. He indicated he did not support the EDA 7 using a broker for the marketing and sale of this property. 8 9 Commissioner Bergeron asked if the City would be financially stable if the sale were delayed. 10 Finance Director Beer reported the City would remain financially stable if the sale were delayed. 11 12 Commissioner Bergeron commented he did not support the EDA pursuing a broker at this time. 13 He indicated he would rather see a hotel on this site versus another industrial use. He anticipated 14 a hotel would thrive at this location given its close proximity to Medtronic and the NSC. He 15 stated he had no problem moving quicker rather than slower on this project. 16 17 President Mueller summarized the comments of the EDA noting the group appreciated the 18 presentation from Keller Williams but was not interested in pursuing brokerage services for the 19 sale of the Skyline Motel property at this time. 20 21 Mr. Rance thanked the EDA for hearing his presentation and stated he would be available in the 22 future if assistance were needed. 23 24 President Mueller commented she supported a mid-scale hotel on the Skyline Motel property and 25 explained she could support the building being higher than three stories. She indicated this 26 would allow the hotel to buffer some of the noise from the adjacent manufactured home park. 27 She questioned how the EDA wanted to proceed with this matter. 28 29 Commissioner Meehlhause stated he would not oppose the hotel building being four or five 30 stories in height, noting a taller building would improve visibility from 35W. 31 32 Commissioner Bergeron indicated he could also support additional stories on the hotel. He 33 requested further information from staff on the timing of this project. Assistant City 34 Administrator Beeman discussed the timeline that would be needed for this project if it were to 35 proceed as a hotel versus an industrial use. He reported an industrial use would lengthen the 36 project timeline. 37 38 Commissioner Bergeron requested further information from staff on the necessary rezoning. 39 Community Development Director Sevald explained the City could amend the zoning Ordinance 40 to permit hotels in the industrial zoning district. City Attorney Riggs advised staff does not see 41 the zoning of this site being a concern for this project. 42 Mounds View EDA March 11, 2019 Regular Meeting Page 6 1 Commissioner Hull questioned why there was a sense of urgency on this project or why the EDA 2 was considering to move forward with the first project that was presented. 3 4 Commissioner Gunn stated she did not believe there was a sense of urgency and explained she 5 could support the City pursuing additional proposals. However, she did not want to see the City 6 sitting on this property and miss out on a redevelopment opportunity. 7 8 Commissioner Bergeron asked if staff should be directed to seek additional hotel proposals. City 9 Attorney Riggs discussed the property closing timeline and noted the EDA could begin 10 marketing this site and pursuing proposals. 11 12 Commissioner Meehlhause questioned what deadline staff would recommend for this project. 13 Assistant City Administrator Beeman stated he would like to see a deadline set for the middle of 14 May. Executive Director Zikmund reported he could speak with staff and Ehlers and could 15 report back to the EDA at their next meeting. 16 17 President Mueller asked if the EDA wanted to see proposals for apartments or workforce housing 18 for the Skyline Motel site. The EDA was not interested in seeing proposals for an apartment 19 building or additional workforce housing. 20 21 President Mueller inquired if the EDA wanted to see proposals for a commercial/industrial 22 development on the Skyline Motel site, or a hotel. 23 24 Commissioner Gunn and Commissioner Meehlhause supported a hotel concept on this site. 25 26 Commissioner Hull stated he would like to see the scope of the proposals broadened. 27 28 Commissioner Bergeron indicated he supported a hotel on this site. 29 30 President Mueller commented the consensus of the Council was to pursue proposals for a hotel 31 on this property. 32 33 Commissioner Hull asked what cost Ehlers would be charging the City. Assistant City 34 Administrator Beeman reported Ehlers would be charging the City by the hour for their 35 assistance. 36 37 Commissioner Hull questioned what other costs the City would be incurring by the delay of this 38 project. Assistant City Administrator Beeman commented the only other cost would be the taxes 39 on the property. He described the steps that would have to be followed if TIF were to be pursued 40 for this site. 41 42 Mounds View EDA March 11, 2019 Regular Meeting Page 7 President Mueller anticipated that a Choice Hotel would be a better neighbor to the adjacent 1 manufactured home community than an industrial type development. However, she noted she 2 wanted to see the future developer work with the existing neighbors. 3 4 Commissioner Meehlhause questioned if the site was large enough to pursue an industrial 5 development as it stands. Assistant City Administrator Beeman reported industrial projects are 6 typically five acres or larger. 7 8 Commissioner Bergeron commented he appreciated the presentation that was made by 9 Commercial Investors Group/Choice Hotels as it took into consideration the neighboring 10 properties. 11 12 President Mueller asked if this site was large enough to support a four or five story hotel. 13 Assistant City Administrator Beeman commented the site could support additional parking. 14 15 President Mueller recommended staff request additional proposals for the Skyline Motel site for 16 hotels and that the proposals be submitted by mid-May. 17 18 Mr. Sowers thanked the EDA for their consideration and noted he would entertain an industrial 19 development on the Bauer property. He stated it was his hope to break ground on a hotel by this 20 fall in order to have the foundation completed before the ground freezes. He commented on the 21 timeline it would take him to complete a market and feasibility study. He explained his interest 22 in this site would diminish if the EDA were not able to move forward with this project in the 23 next 60 days. 24 25 Executive Director Zikmund questioned if the EDA would support the use of TIF or other public 26 subsidies for this project. 27 28 Commissioner Hull and Commissioner Gunn were open to TIF. 29 30 Commissioner Meehlhause stated he would rather not pursue TIF for this project, but noted he 31 could consider TIF if necessary, for the redevelopment of this property. 32 33 Commissioner Bergeron stated he did not want to see anything taken off the table in order to 34 have this site properly redeveloped. 35 36 President Mueller commented she did not prefer to use TIF for the redevelopment of this 37 property. She summarized the next steps for this project noting staff would be reaching out to 38 Ehlers and the EDA would be reviewing proposals for this property in mid-May. 39 40 Executive Director Zikmund requested the EDA keep the door open for the use of a broker. 41 42 Mounds View EDA March 11, 2019 Regular Meeting Page 8 President Mueller encouraged the developer to be patient with the EDA as they would not be 1 closing on the property until the end of April or early May. 2 3 7. REPORTS 4 5 City Attorney Riggs provided the EDA with an update on the Skyline Motel property closing 6 timeline. He noted individuals were being relocated at this time and easements were being 7 addressed. 8 9 8. NEXT EDA MEETING: Monday, March 25, 2019 at 6:00 p.m. 10 11 9. ADJOURNMENT 12 13 President Mueller adjourned the meeting at 7:49 p.m. 14 15 Respectfully submitted, 16 17 18 Recorded and transcribed by: 19 Heidi Guenther 20 TimeSaver Off Site Secretarial, Inc. 21 The Mounds View Vision A Thriving Desirable Community Item No: 6A Meeting Date: May 13, 2019 Type of Business: EDA Business Administrator Review: ____ City of Mounds View Staff Report To: EDA President and Commissioners From: Brian Beeman, Assistant City Administrator Item Title/Subject: Commercial Investors Group Proposal for Skyline Motel Introduction: The EDA is purchasing the Skyline Motel site as a redevelopment opportunity. The expected closing date is mid-May, 2019. At the March 11, 2019 EDA meeting, the EDA directed staff to send out request for proposals to hotel developers for the three parcels totaling 2.86 acres that the Skyline Motel current sits. Staff has received a number of inquiries on the property mainly for a hotel use however, only one developer has submitted a formal proposal. Discussion: Staff has received a proposal from Commercial Investors Group who is interested in redeveloping the property for a hotel. Commercial Investors Group initially made a presentation to the EDA March 11, 2019 and will be presenting an updated proposal for not only the Skyline property but also for the Bauer Welding vacant lot. Both the owners of Bauer Welding and Bio Clean have indicated that they are open to a variety of options as long as it makes sense for their operations. It is anticipated that both owners will be present to hear the proposal and answer any questions the EDA may have. There are still some outstanding issues on the site. For example, the EDA still needs to close on the purchase of the property, the chosen developer will need to cooperate with their engineer to conduct a delineation study to determine if the low area to the North of the property can be filled with dirt and developed. There may be an opportunity for the City to fill the low area with unused dirt that the City would otherwise have to pay to get rid of saving money for both the City and the developer. A determination on the size and area of the water retention pond is still needed, Bio Clean will need to decide if they will be putting their building up for sale or continue with their expansion plans. A TIF analysis will also need to be completed as well as direction to staff to continue to cooperate with the developer and City Attorney to agree upon a Purchase and Development Agreement and several other items. Commercial Investors Group has submitted a Letter of Intent outlining three different options and pricing for the EDA to consider. Assuming the EDA chooses to move forward in cooperating with Commercial Investors Group for the hotel development, the EDA will need to consider the LOI. Therefore, immediately following the EDA’s open portion of the meeting, the EDA will enter into an executive session to consider the terms and pricing of the LOI. The Mounds View Vision A Thriving Desirable Community Strategic Plan Strategy/Goal: Create and maintain a positive business climate where businesses want to locate and remain in Mounds View. Maximize utilization of development space and current redevelopment sites. Fill vacant space and support redevelopment & development. Financial Impact: Redevelopment projects typically take a loss on the front end of the deal. However, revenues are recovered in the long-term through property taxes, community investment, the creation of more jobs, and an improvement to the property. There would potentially be no financial impact to the EDA in a situation where the EDA would be able to recover the money invested into the purchase of the property. Recommendation: Hear the redevelopment proposal from Commercial Investors Group and review & discuss. Provide direction to staff and the developer on the EDA’s interest in pursuing the hotel project. Should the EDA decide to pursue the hotel project, the EDA should direct staff by Making a motion directing staff to continue to coordinate with the City Attorney and other City consultants as necessary and Commercial Investors Group to negotiate a purchase and development agreement to be presented and considered at a future EDA meeting. The price and other details will need to be agreed upon through an executive session and/or the EDA giving staff the authority to negotiate within reason. A similar approach to the process of selling the Crossroad Pointe site should be considered. Respectfully submitted, ________________________ Brian Beeman Assistant City Administrator Attachments: 1) Commercial Investors Group Site Plan The Mounds View Vision A Thriving Desirable Community Item No: 6A Meeting Date: May 13, 2019 Type of Business: EDA Business Administrator Review: ____ City of Mounds View Staff Report To: EDA President and Commissioners From: Brian Beeman, Assistant City Administrator Item Title/Subject: Resolution 322-EDA-19 TIF Analysis for Skyline Motel Site Introduction: The EDA is purchasing the Skyline Motel site as a redevelopment opportunity. The expected closing date is mid-May, 2019. In order to consider a redevelopment TIF district the State of MN requires that a TIF analysis identifying the percentage of blight and substandard structures be completed to determine if the parcels qualify to create a TIF district. Discussion: Staff has received a proposal from LHB who conducts TIF analysis across Minnesota. The proposal is necessary in outlining the scope of work to be completed and the analysis is required by the State of MN before creating a TIF district. LHB has completed over 200 TIF district analysis. Staff has had discussions with Ehler’s, the City’s financial consultant and they highly recommend LHB. Ehler’s has also indicated that a TIF can be used to pay back the developer or it can be used to make the City whole in a situation where the developer is not able to pay the price that the City has into the property. Therefore, Ehler’s recommends that the City consider creating a TIF district if feasible. Strategic Plan Strategy/Goal: Create and maintain a positive business climate where businesses want to locate and remain in Mounds View. Maximize utilization of development space and current redevelopment sites. Fill vacant space and support redevelopment & development. Financial Impact: Redevelopment projects typically take a loss on the front end of the deal. However, revenues are recovered in the long-term through property taxes, community investment, the creation of more jobs, and an improvement to the property. There would potentially be no financial impact to the EDA in a situation where the EDA would be able to recover the money invested into the purchase of the property. If the EDA is successful in creating a TIF district then according to Ehler’s the EDA can recoup their costs of the project. Recommendation: Consider resolution 19-EDA-322 by motion. Respectfully submitted, ________________________ Brian Beeman Assistant City Administrator Attachments: 1) Resolution 19-EDA-322 & LHB’s TIF Analysis Proposal 1 578601v2 SJR MU205-49 EDA RESOLUTION 19-EDA-322 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA A RESOLUTION APPROVING LHB, INC. TO CONDUCT A REDEVELOPMENT TIF ANALYSIS ON THE SKYLINE MOTEL SITE AND SURROUNDING AREA BE IT RESOLVED by the Board of Commissioners (the “Board”) of the Mounds View Economic Development Authority (the “Authority”) as follows: Section 1. Recitals. 1.01. The Authority is authorized pursuant to Minnesota Statutes, Sections 469.090 to 469.1081 (the “EDA Act”), to acquire and convey real property and to undertake certain activities to facilitate the development of real property by private enterprise. 1.02. The Authority has received a proposal from LHB, Inc. (hereinafter “LHB”) to conduct a redevelopment TIF analysis on the Skyline motel site and surrounding area in the City of Mounds View, dated April 26, 2019, attached hereto as Exhibit A (hereinafter, the “Proposal”). 1.03. The Authority deems that such Proposal to be in the interest of the Authority and the public. Section 2. Authorization. 2.01. The recitals set forth in this Resolution are incorporated into and made a part of this Resolution. 2.02. The Board hereby approves the LHB Proposal dated April 26, 2019, attached hereto as Exhibit A, to conduct a redevelopment TIF Analysis on the Skyline Motel Site and surrounding area 2.03. The proper Authority officials, staff and consultants are authorized to execute the Proposal and take any and all other steps necessary or convenient in order to carry out the obligations under the Proposal, as well as to fulfill the intent of this Resolution. Adopted on the 13th day of May, 2019. _________________________________ Carol A. Mueller, President Attest: ________________________________ Nyle Zikmund, Executive Director (SEAL) A-1 578601v2 SJR MU205-49 EXHIBIT A A-2 578601v2 SJR MU205-49 A-3 578601v2 SJR MU205-49 A-4 578601v2 SJR MU205-49 A-5 578601v2 SJR MU205-49 A-6 578601v2 SJR MU205-49