HomeMy WebLinkAbout11-25-2019CITY OF MOUNDS VIEW
ECONOMIC DEVELOPMENT AUTHORITY MEETING AGENDA
MOUNDS VIEW CITY HALL
Monday, November 25, 2019
6:00 p.m.
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: October 14, 2019
November 4, 2019 (special meeting)
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. Resolution 19-EDA-332 Confirm EDC Appointments
B. Open to Business and Ramsey County Economic Development
Presentation
C. Resolution 19-EDA-333 CEE Loan Servicing Contract
D. Skyline Redevelopment Proposals
a) MWF Development – Workforce Housing
b) Augusta Development – Senior Housing
c) Ebert Construction—Temperature Controlled Storage
d) Adams French Properties—Temperature Controlled Storage
7. REPORTS
8. NEXT EDA MEETING: December 9, 2019 time TBD
9. ADJOURNMENT
PROCEEDINGS OF THE MOUNDS VIEW EDA 1
CITY OF MOUNDS VIEW 2
RAMSEY COUNTY, MINNESOTA 3
4
Regular Meeting 5
October 14, 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 6:15 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 October 14, 2019, Agenda as 22
presented. 23
24
Ayes – 5 Nays – 0 Motion carried. 25
26
4. CONSENT AGENDA 27
28
A. September 23, 2019, EDA Minutes. 29
30
MOTION/SECOND: Gunn/Bergeron. To Approve the Consent Agenda as presented. 31
32
Ayes – 5 Nays – 0 Motion carried. 33
34
5. PUBLIC COMMENT 35
36
None. 37
38
6. EDA BUSINESS 39
40
A. 19-EDA-330 A Resolution Approving Forgiveness of a Loan Issued Under 41
the Emergency Deferred Loan Program. 42
43
Assistant City Administrator Beeman requested approval of a Resolution forgiving a loan issued 44
under the Emergency Deferred Loan Program. He reported this loan was for Carol Storey in the 45
amount of $1,770 with a 0% interest rate. He indicated Carol recently passed away, having no 46
Mounds View EDA October 14, 2019
Regular Meeting Page 2
will or directive in place. For this reason, staff was recommending the loan be forgiven. 1
2
MOTION/SECOND: Gunn/Hull. To Waive the Reading and Adopt Resolution 19-EDA-330, 3
Approving Forgiveness of a Loan Issued Under the Emergency Deferred Loan Program. 4
5
Ayes – 5 Nays – 0 Motion carried. 6
7
7. REPORTS 8
9
None. 10
11
8. NEXT EDA MEETING: Monday, November 12, 2019 12
13
9. ADJOURNMENT 14
15
President Mueller adjourned the meeting at 6:23 p.m. 16
17
Respectfully submitted, 18
19
20
Recorded and transcribed by: 21
Heidi Guenther 22
TimeSaver Off Site Secretarial, Inc. 23
PROCEEDINGS OF THE MOUNDS VIEW EDA 1
CITY OF MOUNDS VIEW 2
RAMSEY COUNTY, MINNESOTA 3
4
Special Meeting 5
November 4, 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 8:02 a.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: Meehlhause/Hull. To Approve the November 4, 2019, Agenda as 22
presented. 23
24
Ayes – 5 Nays – 0 Motion carried. 25
26
4. EDA BUSINESS 27
28
A. Adopt EDA Resolution 19-EDA-331 Notice of Partial Assignment of Rights 29
Under Real Property Purchase Agreement. 30
31
Executive Director Zikmund requested the EDA adopt a Resolution approving the notice of 32
partial assignment of rights under real property purchase agreement. He explained 33
INH/Crossroad Pointe has taken on an investment partner, GR Scherber, for this project. He 34
reported the update to the Purchase Agreement has been reviewed by the City Attorney and was 35
recommended for approval. It was noted the City would close on this property at 11:00 a.m. on 36
November 4, 2019. 37
38
President Mueller questioned if INH would own and manage the property after it was built. 39
Executive Director Zikmund stated INH would remain the managing partner. 40
41
MOTION/SECOND: Meehlhause/Gunn. To Waive the Reading and Adopt Resolution 19-42
EDA-331 Notice of Partial Assignment of Rights Under Real Property Purchase Agreement. 43
44
Ayes – 5 Nays – 0 Motion carried. 45
46
Mounds View EDA November 4, 2019
Special Meeting Page 2
B. Adopt EDA Resolution 19-EDA-331 Second Assignment, Assumption, and 1
Amendment to Purchase and Development Agreement. 2
3
Executive Director Zikmund requested the EDA adopt a Resolution approving the Second 4
Assignment, Assumption, and Amendment to Purchase and Development Agreement. He 5
explained INH/Crossroad Pointe has taken on an investment partner, GR Scherber, for this 6
project. He reported this document has been reviewed by the City Attorney and was 7
recommended for approval. 8
9
MOTION/SECOND: Meehlhause/Gunn. To Waive the Reading and Adopt Resolution 19-10
EDA-331 Second Assignment, Assumption, and Amendment to Purchase and Development 11
Agreement. 12
13
Ayes – 5 Nays – 0 Motion carried. 14
15
C. Adoption and Approval of any other Documents Necessary for Closing. 16
17
Executive Director Zikmund reported there were no other documents for the Council to adopt or 18
approve for closing. 19
20
D. General Discussion Regarding Project. 21
22
Executive Director Zikmund stated he had nothing further. 23
24
5. REPORTS 25
26
None. 27
28
6. NEXT EDA MEETING: Monday, November 11, 2019 at 6:00 p.m. 29
30
7. ADJOURNMENT 31
32
President Mueller adjourned the meeting at 8:14 a.m. 33
34
Respectfully submitted, 35
36
37
Recorded and transcribed by: 38
Heidi Guenther 39
TimeSaver Off Site Secretarial, Inc. 40
Item No: 6A
Meeting Date: November 25, 2019
Type of Business: EDA
City Administrator Review: _____
City of Mounds View Staff Report
To: Economic Development Authority
From: Brian Beeman, Assistant City Administrator
Item Title/Subject: Resolution 19-EDA-332, Appointing Members to the Economic
Development Commission (EDC)
Background
The Economic Development Commission (EDC) is comprised of seven members – three business
representatives and four resident representatives. The terms are three years. Teresa Muckala and
Dan Larson’s EDC term seats expire on December 31, 2019 and Ken Breske’s business
representative seat has been open since he resigned early 2019 due to moving outside of the City of
Mounds View. His term ends December 31, 2020. According to the Mounds View City Code Section
408.03:
The Commission shall be composed of seven (7) equal voting
members, including three (3) business representatives and four (4)
residents, appointed by the Authority Board of Commissioners based
on the recommendation of the Economic Development Commission,
from the applications submitted. Members shall have diverse
qualifications with practical experience consisting of, not limited to,
but including one (1) of the following areas: economics, finance,
accounting, real estate, social services and marketing.
Both Ken Breske and Teresa Muckala moved outside of Mounds View and therefore resigned
leaving vacancies. This leaves two (2) resident openings and one (1) business representative
opening.
Discussion
Staff received three (3) applications for the resident representative openings, Gary Rundle, Dan
Larson, and Donn Lindstrom, and one business representative application from Lisa Marquis.
(applications attached). The EDC considered the applications at their November 21th meeting and
they are recommending the EDA consider appointing Gary Rundle and Dan Larson as the resident
representatives and Lisa Marquis as the business representative to the EDC.
Recommendation
Consider EDA Resolution 19-EDA-332, a resolution appointing members to the Economic
Development Commission (EDC).
Respectfully submitted,
________________________
Brian Beeman
Assistant City Administrator
County
EDA RESOLUTION 19-EDA-332
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
A RESOLUTION APPOINTING MEMBERS TO THE
ECONOMIC DEVELOPMENT COMMISSION (EDC)
WHEREAS, the Economic Development Commission (EDC) consist of members appointed
by the Economic Development Authority (EDA); and
WHEREAS, there are three (3) vacant seats on the EDC effective January 1, 2020; and
WHEREAS, Teresa Muckala and Dan Larson EDC term seats expire on December 31,
2019; and
WHEREAS, Ken Breske resigned from the EDC effective January 15, 2019; and
WHEREAS, City Staff received four (4) commission applications; and
WHEREAS, the EDC considered the applications at their November meeting and is
recommending Gary Rundle and Dan Larson as the resident representatives, and Lisa Marquis as the
business representative to be appointed to the EDC.
NOW, THEREFORE, BE IT RESOLVED, that the EDA does hereby appoint the
following below to the EDC:
Name Term Expiration
Gary Rundle December 31, 2022
Dan Larson December 31, 2022
Lisa Marquis December 31, 2020
Adopted this 25th day of November, 2019.
________________________________
Carol A. Mueller, President
Attest:
________________________________
Nyle Zikmund, Executive Director
(SEAL)
The Mounds View Vision
A Thriving Desirable Community
Item No: 6A
Meeting Date: November 25, 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: Open to Business & Ramsey County Economic Development
Presentation
Introduction:
Recently, Ramsey County contracted with Open to Business to provide services throughout the
County. Open to Business is a program for small businesses that offers start-up assistance. Noah
Her is the representative for Ramsey County and he will be in attendance to provide an
introduction to the program. Additionally, Rick Howden representing the Ramsey County
Economic Development Department will be in attendance to provide an update on activities and
services offered by Ramsey County.
Discussion:
Hear both presentations and ask questions accordingly.
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. Continue and focus on public relations
activities.
Financial Impact:
None
Recommendation:
Hear both presentations and ask questions as needed. No action is required.
Respectfully submitted,
________________________
Brian Beeman
Assistant City Administrator
Attachments:
1. None
The Mounds View Vision
A Thriving Desirable Community
Item No: 6B
Meeting Date: November 25, 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: 19-EDA-333 A Resolution Approving a Loan Servicing Contract
with the Center for Energy and Environment (CEE)
Introduction:
Greater Minnesota Housing Corporation (GMHC) used to process the Mounds View EDA loan
programs. GMHC dissolved and the Mounds View EDA contracted with the Center for Energy
and Environment (CEE). The Community Reinvestment Fund (CRF) serviced the loans for
GMHC. CEE now offers a full loan servicing program eliminating the need to have CRF manage
the loans. Therefore, staff requested that CEE provide their servicing agreement.
Discussion:
Hear and update from CEE on the loan servicing agreements and ask any questions as needed.
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. Continue and focus on public relations
activities.
Financial Impact:
None, funds that were being used for CRF will be used for CEE instead.
Recommendation:
Consider 19-EDA-333, a resolution approving a loan servicing contract between the Mounds View
EDA and CEE.
Respectfully submitted,
________________________
Brian Beeman
Assistant City Administrator
Attachments:
1. 19-EDA-333 A Resolution Approving a Loan Servicing Contract between the Mounds View
EDA and CEE
2. CEE Loan Servicing Contract, Exhibit A & B
622221v1MU205-13
EDA RESOLUTION 19-EDA-333
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
A RESOLUTION APPROVING A LOAN SERVICING AGREEMENT WITH THE
CENTER FOR ENERGY AND ENVIRONMENT
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 participate in providing certain loan programs (collectively, the
“Loans”).
1.02. The Authority has in the past used the Community Reinvestment Fund, Inc., d/b/a
Community Reinvestment Fund, USA, a non-profit corporation organized under the laws of the
state of Minnesota (“CRF”) to service the Authority’s loan programs.
1.03. The Authority has selected the Center for Energy and Environment, a non-profit
corporation formed under the laws of the state of Minnesota, as the new servicer of the Loans.
1.04. The Authority has negotiated the terms of the loan servicing agreement (the
“Agreement”), a copy of which is attached as Exhibit A to this resolution.
1.05. The Board has reviewed the Agreement and finds that the execution thereof by the
Authority and performance of the obligations thereunder are in the best interest of the Authority,
the City and its residents.
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 Agreement in substantially the form presented to
the Board on the date below and further subject to any modifications that do not alter the substance
of the transaction and that are approved by the Authority’s attorney.
2.03. The proper Authority officials, staff and consultants are authorized to execute the
Agreement and to take any and all other steps necessary or convenient in order to carry out the
obligations under the Agreement, as well as to fulfill the intent of this Resolution.
EDA Resolution No. 19-EDA-333
Page 2
2
622221v1MU205-13
Adopted on the 25th day of November, 2019.
Carol A. Mueller, President
Attest:
Nyle Zikmund, Executive Director
(SEAL)
A-1
622221v1MU205-13
EXHIBIT A
Loan Servicing Agreement
[to be added]
1
Mounds View Loan Servicing Contract #3084
621273v5MU205-13
LOAN SERVICING AGREEMENT
This LOAN SERVICING AGREEMENT (“Agreement”) is made by and between CENTER FOR
ENERGY AND ENVIRONMENT, with offices at 212 Third Avenue North, Suite 560, Minneapolis,
Minnesota 55401 (“CEE”) and the MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY,
in and for the City of Mounds View, with offices at 2401 Mounds View Boulevard, Mounds View, MN
55112 (“Client”).
RECITALS
In consideration of their mutual undertakings and payments provided for herein, the parties recite,
covenant, and agree to the following:
A. CEE is a non-profit corporation engaged in the servicing of development loans; and
represents that it is qualified and authorized to perform the services described herein; and
B. Client originates, purchases, owns, and/or manages loans that benefit economically distressed
or declining areas, disadvantaged persons, neighborhoods or community revitalization, foster
job creation, or other section 501(c)(3) charitable purposes; and
C. CEE is authorized by Client to function as a servicing agent under the terms of this
Agreement; and
D. Client now desires to have CEE perform the duties set forth herein for the loans covered by
this Loan Servicing Agreement.
NOW, THEREFORE, CEE and Client agree as follows:
1. Duties of CEE
CEE shall, at all times and with respect to all loans identified by Client (the “Client Loans”)
which it has been engaged by the Client to service, employ its normal and regular servicing
activities in the servicing of Client Loans to perform those responsibilities specifically set forth
on Exhibit A (the “Services”). The parties acknowledge that, from time to time, the Services may
be modified at the request of the Client and agreement by CEE. Such changes shall be mutually
agreed upon and are not effective unless agreed to in writing by the execution of a revised
Exhibit-A.
2. Effective Date
CEE shall commence servicing activities under this Agreement effective on the following date:
January 1, 2020 (“Effective Date”) and shall continue until terminated as provided in Section 16
of this Agreement.
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3. Servicing Compensation and Reimbursement
Client shall compensate CEE for the Services in accordance with the fee schedule attached as
Exhibit B of this Agreement and reimburse CEE for any of CEE’s verifiable out-of-pocket costs,
including but not limited to the costs of recordation of documents incidental to provision of the
Services, perfecting or releasing liens, legal costs incurred, servicing of notices, repossession,
foreclosure, and other similar costs paid by CEE on behalf of Client with respect to CEE’s actions
on specific Client Loan(s) (collectively, the “Fees”). CEE, as part of it providing the Services, is
entitled to institute a late payment policy upon clearly established rules which are communicated
to the borrower. In addition to the compensation provided for herein, CEE shall be entitled to
retain any late fee payments collected from borrowers pursuant to such policy. CEE shall retain
fees owed from fund remittance as provided in Exhibit A. CEE shall issue a written report, upon
request of Client, to Client showing the total net fees it has collected along with all funds which
are remitted to Client. Following the Initial Term, as hereinafter defined, CEE may increase the
Fees from time to time by providing an updated Exhibit B to Client at least sixty (60) days prior
to effective date of the new fee schedule and no more than one time annually.
4. Initial Boarding of Clients
In making this Agreement, CEE represents, warrants, and agrees to provide Client the
Information for each Client Loan and the loan documents related to the Client Loans upon
request.
For purposes of this Agreement, “Information” shall include the following:
• Borrower Full Name
• Property Address, if Secured
• Loan Amount
• Interest Rate
• Term
• Closing Date
• Monthly Payment Amount
• Payoff Date
• Amortization Schedule
• Closing Documents
• Servicing Records
• Complaint Resolution
• Collections Records (for Delinquent Accounts only)
Client will cooperate with CEE, and provide CEE such information and documents as may be
necessary in CEE’s discretion to perform its duties under this Agreement, including to reconcile
any loan balance information provided to CEE. CEE may rely in good faith on information
provided to it by Client.
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5. Ongoing Boarding of Client Loans
On a regular basis, following the Effective Date of this Agreement, CEE will notify Client of
newly originated Loans for which it will service under the terms of this Agreement.
Client represents, warrants, and agrees to cooperate with CEE, and provide CEE such information
as may be necessary to perform its duties under this Agreement, reconcile any loan balance
information provided to CEE, and CEE may rely in good faith on information provided to it by
Client.
CEE represents, warrants, and agrees to onboard loans accurately according to the provisions
provided by Client and shall, subject the terms of this Agreement. CEE further agrees that it shall
remedy any onboarding errors within five (5) business days (or such shorter period as may be
required by applicable law) after receipt of notice of such errors.
6. Reports the Property of Client
All reports, documents, and materials delivered by CEE to Client pursuant to this Agreement are
the exclusive property of Client. Client may use any work product prepared by CEE in such
manner, for such purpose, and as often as Client shall deem advisable, in whole, in part, or in
modified form, without further compensation to CEE.
7. Nature of Agreement
CEE shall perform all of its services and duties hereunder at its own expense and without cost or
charge to Client except as expressly provided in Exhibit B.
Governmental Approvals. CEE has obtained and will maintain in full force and effect,
and satisfy at all times, all related eligibility criteria in order to maintain in full force and
effect, without material impairment, suspension or revocation, all municipal, local, or
other applicable governmental approvals, registrations, qualifications, permits, licenses,
and other applicable authorizations that are required or necessary to perform and conduct
the services and CEE’s business in accordance with Applicable Requirements, as
hereinafter defined.
For purposes of this Agreement, “Applicable Requirements” shall mean:
(1) All applicable federal, state, and local legal and regulatory requirements binding
upon CEE related to the performance of the Services;
(2) All other final judicial and administrative judgments, orders, stipulations, awards,
writs, and injunctions applicable to CEE; and
(3) The reasonable and customary practices of prudent loan servicing providers that
offer the same types of services as CEE for the same types of loans serviced by
CEE in the jurisdictions in which CEE operates.
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8. Disaster Recovery
CEE shall take all commercially reasonable precautions to mitigate the risks to information
regarding the Client Loans in connection with disruptions to business operations due to fire,
flood, storm, epidemic illness, equipment failure, sabotage, terrorism, natural disaster, disaster
caused by humans, or electronic data system failures. CEE shall also be responsible for installing
commercially-reasonable data security protocols in order to protect all information related to this
Agreement from potential data breach or other cybercrime.
CEE shall keep duplicate records of all electronic information in its possession or control
pertaining to Client Loans and shall store at least one copy of such duplicate records in a site
remote from its main offices in the following manner:
(1) Full backups of daily files for 7 consecutive days (weekly backup);
(2) Full weekly backups rolled into monthly backups;
(3) Monthly backups rolled into yearly files and kept for 7 years from the date
loan is paid off;
(4) Full daily backups of Cloud Data;
(5) Daily Cloud backups rolled up into Monthly files and moved out of the
Cloud into magnetic storage after 30 days;
(6) In the event of a natural disaster or catastrophic failure of CEE’s electronic
data system, CEE shall have a period not to exceed 45 days from the date of
such catastrophe to recover or reconstruct such lost data necessary for
compliance with its disaster recovery obligations.
*The Cloud Provider's policy is subject to change. CEE will notify Client of any
material changes in the event that they affect the security of the loan information.
9. Equal Opportunity Employment
CEE shall comply with all applicable provisions of the Equal Credit Opportunity Act (15 U.S.C.
§ 1691 et seq.). CEE is an equal opportunity employer and will not discriminate against any
person on the basis of race, color, creed, religion, sex, national origin, age, disability, marital
status, sexual orientation, status with regards to public assistance, or any other characteristic
protected by law.
10. Compliance
Vendors. From time to time, CEE may engage vendors to perform certain tasks that may be
included in CEE’s performance of the Services. CEE shall follow commercially-reasonable
practices designed to ensure that any Services performed by vendors are in compliance with the
Applicable Requirements and this Agreement.
Policies and Procedures. CEE will maintain and follow written internal policies and procedures
related to the Applicable Requirements in connection with providing services to Client, including
without limitation, policies and procedures for internal quality control, employee hiring and
training, and other methods that ensure compliance.
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Audit Rights. Client will have the right to audit CEE, at Client’s own expense and not more than
once per calendar year, for purposes of evaluating compliance with the terms of this Agreement.
CEE will provide full cooperation and will be responsible for assuring full cooperation by its
employees and vendors in connection with such audits. CEE shall cause any vendor that performs
tasks related to the Services to allow Client and its counsel, accountants, and other
representatives, as well as the applicable regulatory authorities of Client or the state of Minnesota,
reasonable access upon ten (10) business days advance written notice and only during normal
business hours, to all of CEE and vendors’ files, books and records directly relating to the
Services performed for Client under this Agreement. CEE will provide, and shall require all
vendors to provide, to Client, or obtain for Client, access to such properties, records, and
personnel as Client may reasonably require, and shall provide Client with CEE’s most recent
audited financial statements and the names, resumes, and proof of any required licensures for all
relevant personnel employed by CEE. The Client and its representatives and affiliates shall treat
all information obtained in such investigation that is not otherwise in the public domain as
confidential, pursuant to the Client’s obligation to comply with the Minnesota Government Data
Practices Act which shall supersede any contrary provision herein. CEE shall make financial
statement audits available to Client on an annual basis, including any SSAE -16 audits that may
be performed on behalf of CEE. CEE shall remit annual financial statement audit reports to Client
upon request.
11. Cooperation.
Client agrees that it shall (a) promptly deliver to CEE (i) any communications that Client receives
from a borrower relating to such borrower’s loan which is being serviced by CEE, and (ii) any
communication Client receives from any regulator, state of federal agency, or other governmental
entity relating to any borrower’s loan that is being serviced by CEE or otherwise relating to
CEE’s loan servicing activities, and (b) cooperate with CEE regarding any claim, dispute,
regulatory examination or investigation related to Client’s loans and the services provided to
Client by CEE under this Agreement.
12. Indemnity
CEE and Client each agree to indemnify, defend, and hold the other and each of their respective
officers, directors, employees, agents, counsel, advisors, and representatives (each, an
“Indemnified Party”) harmless from and against any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs, fees, and expenses
incurred by Indemnified Party arising out of any actions, demands, investigations, proceedings,
claims, counterclaims, or defenses, made by or on behalf of any third party related to the failure
of CEE or Client to perform its duties in compliance with the terms of this Agreement.
Notwithstanding the foregoing, neither party shall indemnify any such Indemnified Party if such
acts, omissions, or alleged acts giving rise to the Indemnified Party’s liability constitute fraud,
gross negligence, willful misconduct, or breach of fiduciary duty by such Indemnified Party.
Neither CEE nor Client shall have an obligation to appear with respect to, prosecute, or defend
any legal action which is not incidental to this Agreement. Nothing herein shall be interpreted as
a waiver or limitation of any defense or immunity available to Client, including but not limited to
the application of Minnesota Statutes, chapter 466.
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13. Taxes. Neither CEE nor Client shall be responsible to the other party for any taxes owed by such
party, including, without limitation, any federal, state, or local income or franchise taxes or other
taxes, imposed on or measured by income received by such party (or any interest or penalties with
respect thereto or arising from a failure to comply therewith) that are required to be paid by such
party in connection herewith to any taxing authority.
14. Reliance.
CEE and Client, and any director, officer, employee, or agent of CEE or Client respectively, may rely
on any document of any kind which it, in good faith, that party reasonably believes to be genuine and
to have been adopted or signed by the proper authorities or persons respecting any matters arising
hereunder.
15. Insurance
During the term of this Agreement, CEE will obtain and maintain insurance in the amounts listed
below:
General Liability $2,000,000 Aggregate Limit
Automobile Liability $1,000,000 Combined Single Limit
Excess Liability $1,000,000 Aggregate Limit
Professional Liability $1,000,000 Aggregate Limit
Workers Compensation Statutory Limit
16. Limitation of Liability
CEE’s role is strictly limited to the Services. Client will be solely responsible for making all
decisions concerning the management of the Client Loans. At all times, Client will be responsible
for the accuracy of all information provided to CEE, and CEE may rely on any document of any
kind which it, in good faith, reasonably believes to be genuine and to have been adopted or signed
by the proper authorities or persons respecting any matters arising hereunder. CEE’s duty is to
exercise ordinary care in its performance of the obligations described in this Agreement. Client
agrees that CEE, its officers, directors, agents, and employees (“CEE Representatives”) will not
be liable for events or circumstances arising from CEE’s reasonable reliance on such information
provided by Client. Client and CEE agree that clerical errors do not constitute a failure to exercise
ordinary care or to act in good faith. In addition to CEE's right to reasonably rely on information
provided to it by the Client, CEE shall not be held liable for any errors or omissions which were
created by the Client's previous loan servicer, except that CEE shall notify Client upon
discovering any such errors or omissions, and CEE and Client shall work together to address any
such issues.
17. Term of Agreement: Termination
The initial term shall commence on the Effective Date and continue for a period of three years
(the “Initial Term”). Thereafter, the Agreement shall automatically renew for successive one-year
periods, unless CEE or Client provides written notice of non-renewal or amendment to the other
party at least sixty days before the end of the then current term.
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Either Client or CEE may terminate this Agreement with respect to any Client Loan, or with
respect to all Client Loans, upon (a) ninety days prior written notice delivered to the other party
via email (and duly acknowledged by the other party) or (b) upon the occurrence of a CEE
Termination Event (as defined below). Upon such termination, CEE shall promptly supply
appropriate reports, documents, promissory notes, and other information as requested by Client or
any person or entity designated by Client and shall use its commercial best efforts to effect the
orderly and efficient transfer or servicing to the Client or a new servicer designated by Client
subject to the fees described in Exhibit B.
The following shall constitute a “Termination Event” under this Agreement:
A. Any failure by CEE to remit any payment required to be made under the terms of this
Agreement which continues for a period of ten business days after notice that such
payment was required to be made, provided, however, that any such failure shall not
constitute a Termination Event if such delay or failure could not have been prevented
by the exercise of reasonable diligence by CEE, or such delay or failure was caused
by events subject to conditions outside of the reasonable control of CEE; or
B. Any material breach by CEE or Client of their respective representations and
warranties contained herein that materially and adversely affects the interests of the
other, or any failure on the part of CEE or Client to observe or perform in any
material respect any of the covenants or agreements contained herein and which non-
performance continues for a period of thirty days after the date on which notice,
except for the case of non-payment as identified in paragraph A above, of such
breach has been given to by the non-breaching party to the breaching party.
Notwithstanding, if the breaching party certifies to the non-breaching party that it has
in good faith attempted to remedy such breach, such cure period will be extended to
the extent reasonably necessary to permit the breaching party to cure such breach; or
C. CEE or Client shall suffer a material adverse change in its financial condition that
affects its ability to perform its obligations under this Agreement; or
D. CEE or Client is subject to a bankruptcy or other proceeding relating to its liquidation
or insolvency, or a decree or order of a court or agency or supervisory authority
having jurisdiction for the appointment of a conservator or receiver or liquidator in
any insolvency, readjustment of debt, marshaling of assets and liabilities or similar
proceedings, or for the winding-up or liquidation of its affairs, shall have been
entered against CEE or Client and such decree or order shall have remained in force,
undischarged or un-stayed for a period of sixty (60) days; or
E. CEE or Client shall consent to the appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of debt, marshaling of assets or liabilities,
or similar proceedings of or relating to CEE or Client or of or relating to all or
substantially all of such party’s property; or
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F. CEE or Client shall admit in writing its inability to pay its debts as they become due,
file a petition to take advantage of any application insolvency or reorganization
statute, make an assignment for the benefit of its creditors, or voluntarily suspend
payment of its obligations.
18. Assignment of Rights
Neither party shall have any rights to assign its rights or obligations under this Agreement
without the prior written consent of the other party hereto.
19. Independent Contractor
Nothing herein shall be deemed or construed to create a co-partnership or joint venture between
the parties hereto and the services of CEE shall be rendered as an independent contractor and not
as an agent for Client, its successors and assigns, or any obligors or noteholders under the Client
Loans.
20. Amendments
This Agreement may not be amended or modified except by a written amendment signed by the
parties in interest at the time of such modification. Notwithstanding the foregoing, CEE may
adjust the Fees by providing an updated Exhibit B as provided herein and all other Schedules may
be changed by written mutual agreement.
21. Confidentiality
CEE acknowledges that Client is a government entity which is subject to the terms and provisions
of the Minnesota Government Data Practices Act, Minnesota Statutes, chapter 13 (the “Act”).
Additionally, the Client is subject to the terms of the Official Records Act, Minnesota Statutes,
section 15.17. To the extent that any of the provisions of this Agreement conflict or are
incompatible with any of the obligations of Client, in Client’s sole discretion, such provisions
shall be invalid and superseded by the appropriate law, rule, regulation, or interpretation and CEE
hereby releases Client from any claims related to Client’s compliance with such obligations.
Additionally, CEE acknowledges its obligation to comply with the Act, pursuant to Minnesota
Statutes, section 13.05, subd. 11.
Neither Client nor CEE shall disclose or use any Confidential Information of the other party or its
affiliates, and each party will keep such Confidential Information confidential and will require
that its affiliates, officers, employees, contractors, vendors, and advisors who have access to such
Confidential Information comply with such non-disclosure and non-use obligations.
Notwithstanding the forgoing, Client or CEE may provide such Confidential Information
as required pursuant to a court or administrative subpoena, court order or other such legal
process or requirement of law; provided, however, that it shall endeavor to promptly
notify the other of such request, order or requirement, unless such notice is prohibited by
statute, rule, or court order. Nothing herein shall require either Client or CEE to fail to
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honor a subpoena, court or administrative order, or a requirement of law on a timely
basis.
Notwithstanding this section, CEE is expressly permitted to release information to
borrowers upon written request regarding their specific loans; and, following receipt of
borrower’s written authorization to release information, CEE is expressly authorized to
release such information regarding that borrower's loan to a third party.
CEE shall cause vendors, if any, not to use or disclose any Confidential Information of
Client except in compliance with this Agreement. Notwithstanding the foregoing, a
vendor may disclose Confidential Information as required pursuant to a court or
administrative subpoena, order or other such legal process or requirement of law;
provided, however, that it shall first notify Client of such request or requirement, unless
such notice is prohibited by statute, rule or court order. CEE shall not, on Client’s behalf,
require a vendor to fail to honor a subpoena, court or administrative order, or a
requirement of law on a timely basis. CEE shall also cause vendors not to remove any
Confidential Information from Client premises without Client’s prior written
authorization.
Each party shall limit access to the other party’s Confidential Information to only those of
its employees and agents who require such access in performing their duties hereunder.
CEE agrees to either return the Confidential Information to Client or destroy the
Confidential Information upon completion of the work or, in any event, upon termination
of the Agreement between the parties. Except as expressly provided in this Agreement,
no ownership or license rights are granted in any Confidential Information.
Notwithstanding anything to the contrary in this Agreement, Confidential Information
may be disclosed to a party’s accountants, attorneys, insurers, regulators and consultants.
Notwithstanding the foregoing, a party may retain one archival copy of Confidential
Information that may be used solely to demonstrate compliance with this Agreement,
Applicable Law, and internal policies and procedures.
“Confidential Information” for purposes of this Agreement, shall mean any information
of CEE, Client, or their respective affiliates, whether written or oral, including:
A. Financial Information, marketing plans, and personnel records;
B. Technical and non-technical data, including without limitation, customer
lists, customer information, costumer non-public information, fee schedules,
forms, information, business and management methods, trade secrets,
compilation and analysis of financial information and data to prepare and
submit bids and proposals to third parties;
C. Other proprietary or confidential information;
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D. Proprietary computer software, management information and information
systems, whether or not such Confidential Information is disclosed or
otherwise made available to one party or other pursuant to this Agreement.
“Confidential Information” shall not include the following:
A. Information that is or becomes generally available to and known by the
public (other than as a result of an unpermitted disclosure directly or
indirectly by the receiving party or its affiliates, advisors, or representatives);
B. Information that is or becomes available to the receiving party on a non-
confidential basis from a source other than the disclosing party or its
affiliates, advisors, or representatives, provided that such source is not and
was not bound by a confidentiality agreement with or other obligation of
secrecy to the disclosing party of which the receiving party has knowledge at
the time of the disclosure; or
C. Information that has already been or is hereafter independently acquired or
developed by the receiving party without violating any confidentiality
agreement with or obligation secrecy to the disclosing party.
22. Attorney In-Fact. To enable CEE to carry out its obligations under this Agreement, Client hereby
(a) authorizes CEE (and its third-party contractors) on behalf of Client to communicate as
Client’s agent with (i) borrowers, guarantors, and others obligated in connection with a
Loan by electronic means or otherwise, (ii) credit reporting bureaus and consumer
reporting agencies selected by CEE, and (iii) to do or perform any other acts for purposes
of carrying out its obligations hereunder, and
(b) appoints CEE as Client’s lawful attorney in fact to sign in the name of Client on such
documents as are necessary or appropriate for CEE to perform its obligations as
contemplated under this Agreement, including without limitation checks and other
documents necessary to process payments, proof of claims, and such other documents as
Client may approve in writing, which approval shall not be unreasonably withheld or
delayed. For the avoidance of doubt, such power-of-attorney shall be revocable, in whole
or in part, at the sole discretion of Client; provided that, upon any such revocation, CEE
shall not be liable for failure to perform any obligations under this Agreement for which
such power-of-attorney is necessary, and such failure may be considered by CEE in its
sole discretion as a basis on which to terminate this Agreement.
23. Transfers. Client shall provide CEE with all authorizations and information, and shall take all such
further steps as may be necessary, in order to authorize and enable CEE to initiate the movement of
funds by automated clearing house (“ACH”) or other electronic funds transfer.
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24. Notices
All notices and communications as part of this Agreement must be in writing and, except as
otherwise agreed in writing, must be delivered, mailed, faxed, or emailed, to the following
addresses:
If to CEE:
Center for Energy and Environment
212 3rd Avenue North, Suite 560
Minneapolis, MN 55401
Attn: Ryan Ellis
Phone: 612.335.5862
Email: rellis@mncee.org
If to Client:
Mounds View EDA
2401 Mounds View Boulevard
Mounds View, MN 55112
Attn: Brian Beeman
Phone: 763.717.4029
Email: brian.beeman@ci.mounds-view.mn.us
25. Governing Law
This Agreement and each transaction consummated hereunder shall be deemed to be made under
the internal laws of the State of Minnesota and shall be construed in accordance with and
governed by the laws of the State of Minnesota, without regard to the choice of law rules of that
state, except to the extent that any such laws may now or hereafter be preempted by Federal law.
26. Counterparts
This Agreement may be executed in several counterparts, each which shall be deemed an original,
and all of which shall together constitute one and the same instrument.
27. Force Majeure
CEE and Client shall be excused from performing in accordance with this Agreement in the event
of an occurrence of “Force Majeure”. Force Majeure is defined as fire, floods, earthquake,
tornado, explosion, catastrophe, accident, war or war-like operations (whether or not a state of
war is declared), riot, Acts of God, acts of terrorism, insurrection, order of a Governmental Body
and applicable laws that prevent performance, to the extent (i) such event of Force Majeure is
beyond the reasonable control of the Party claiming Force Majeure, and (ii) the Party claiming
Force Majeure gives prompt written notice of the same to the other Party. In the event of any
such delay, the sole remedy shall be a time extension for the completion dates required by the
Agreement, which extension shall be the time period lost by reason of the Force Majeure.
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28. Entire Agreement
This Agreement, including all exhibits incorporated herein, constitute the entire agreement among
the parties with respect to the subject matter of this Agreement and supersede all other prior
agreements and understandings, both written and oral, among the parties to this Agreement with
respect to the subject matter of this Agreement. In the event of any inconsistency between the
statements in the body of this Agreement and any exhibits, the statements in the body of this
Agreement will control.
29. Authorized Persons
CEE will provide a single login user name and password (together with any Client created user
name and/or password, collectively the “Credentials”) to Client for purposes of accessing CEE’s
system (“Portal”) to obtain reporting regarding Client Loans. Client is encouraged to create its
own unique Credentials for use in accessing the Portal promptly after receipt of Credentials from
CEE. Client shall be solely responsible for the use and protection of the Credentials. Client
agrees to maintain the confidentiality of the Credentials.
Client agrees that it shall be liable for all transactions initiated and authorized by means of the
Credentials, whether or not actually authorized by the Client. Client further agrees that any
person using the Credentials to access the Portal shall be deemed to be duly authorized by Client
and such person using the Credentials shall be deemed to have full authority to act on behalf of
Client. Client agrees to maintain a proper and complete log of individuals to whom it has
provided access to Client portal and receipt of reports with respect to Client Loans or Client
reports. Client shall promptly modify the Credentials in the event that any person to whom it has
given the Credentials is no longer employed by or otherwise affiliated with Client.
Client shall appoint one or more officers or employees who are authorized to act on behalf of
Client regarding this Agreement and the services provided by CEE hereunder (“Authorized
Users”). CEE shall not be responsible for any correspondence with or access provided to any
Authorized User. Client may add or remove Authorized Users by written notice to CEE. CEE
may rely on any action taken by an Authorized User until an Authorized User’s authorization has
been revoked by Client by written notice to CEE. CEE shall have a reasonable time to process
any revocation received pursuant to this section.
Client agrees that the failure to protect Credentials may allow an unauthorized party to (i) use the
services provided by CEE, (ii) access Client’s electronic communications and financial data, and
(iii) send or receive information and communications on behalf of the Client. Unencrypted
electronic transmissions are not secure, and Client assumes the entire risk for unauthorized use of
Credentials and any unencrypted electronic transmissions. Client undertakes no obligation to
monitor transactions initiated by valid Credentials to determine that they are made on behalf of or
authorized by Client.
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30. Records
Except to the extent otherwise required by Applicable Law, CEE shall retain all records relating
to a Client Loan for at least one (1) year following termination of this Agreement or one (1) year
from maturity or payoff of a Client Loan unless such documentation is requested by and delivered
to Client at an earlier date. The records will be maintained in either hard copy or machine-
readable (electronic) format. In the event CEE is no longer in existence, its successor shall
continue to retain such records as provided above or deliver the records to Client.
31. Deconversion
In the event of termination of this Agreement, CEE will continue to service all existing Client
Loans at the time of termination, at the fees in place at the time of termination. If Client desires to
transfer the duties under this Agreement to a new servicer, CEE agrees to provide Client with
electronic copies of the Client Loan records in CEE’s standard format at the current rate being
charge on a per loan charge by CEE, as well as any additional time charged on a per hour basis.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date written below.
CENTER FOR ENERGY AND
ENVIRONMENT
By _____________________________
[Insert Name]
Its: ____________________________
MOUNDS VIEW EDA
By _____________________________
[Insert Name]
Its: ____________________________
By _____________________________
[Insert Name]
Its: ____________________________
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EXHIBIT A TO
LOAN SERVICING AGREEMENT
Duties of Servicer
NEW LOAN SET UP
Loan Boarding
CEE will board the loan upon origination into CEE’s servicing system. For any unsecured loan,
CEE will board the new loan within three (3) Business days of origination. For any secured loan,
CEE will board the new loan within three (3) Business days after the expiration of the right of
rescission. CEE will confirm the funding pool and assure that the new loan draws off the correct
pool.
For purposes of this Agreement, “business days” means calendar days other than weekends,
official federal holidays, and non-banking holidays.
Reporting
CEE will report every loan to at least one of the three major credit agencies upon inception as it
may designate in its sole discretion.
Quality Control Review
The loan and ACH entry instruction will be reviewed prior to activation to verify the servicing
system matches the terms of the promissory note and any other programmatic requirements per
the documents submitted.
Welcome Letter
A welcome letter will be sent to borrowers within five (5) business days after boarding. This
letter shall include the toll free customer service number as well as an email address that is
available for borrowers to use should they have a question regarding their loan. Customer service
is available from 8:00 AM to 4:30 PM Central Time, on “business days”. An automatic ACH
enrollment form is included in the letter for borrowers to complete and return to CEE if they
would like recurring payments to be initiated automatically by CEE. The letter will also contain
instructions for borrowers to receive access to the online loan portal where they have access to all
their loan information and ability to make payments.
STANDARD SERVICING –AMORTIZING/DEFERRED
Billing
Borrowers with loans that have regularly scheduled payments will receive billing statements on a
monthly basis or other appropriate frequency based on terms of the promissory note.
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Collection of Loan payments
CEE shall collect payments of principal, interest and any appropriate fees. CEE shall confirm the
application of payments to be consistent with the loan documents as part of ongoing due
diligence.
Customer Service
CEE shall provide customer service to borrowers from 8:00AM – 4:30 PM Central Time on
“business days”. The customer service team is available through the toll free phone number or
email at loanservicing@mncee.org. Borrowers will receive a response within five (5) business
days following a question submitted to CEE. Borrowers are able to view loan information on the
loan portal as well as schedule payments.
Past Due Collections
CEE will make reasonable efforts to maintain loans in a current status and will deal promptly
with those which are delinquent in accordance with the Collection Activity section below. CEE
will process loan defaults as directed by Client.
Reporting
CEE will provide standard monthly reporting for the prior month’s activities to Client no later
than the 10th business day of each month. The standard reports are as listed:
o Loan Trial Balance
o Aged Delinquency
o Principal and Interest Collections
o New Loan
o Paid Loan
o Fee Scheduled
o Fee Earned
Special reports may be added at an additional cost for programming. (See Exhibit B for pricing)
IRS Reporting
CEE shall provide borrowers with the required IRS annual tax reporting.
Funds Remittance
CEE shall remit collected funds less servicing and other applicable fees and any late charges
assessed to borrower by the 10th business day of the month. Late charges will be retained by
CEE. Funds will be remitted via ACH. An invoice will be distributed detailing the servicing fees.
CEE shall remit such funds by means of ACH or other electronic funds transfer to an account
designated by Client.
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COLLECTION ACTIVITY
Early Delinquency
CEE will make reasonable efforts to maintain loans in a current status and will make reasonable
periodic efforts to contact borrowers who are delinquent, in order to encourage payment. Such
efforts will be limited to those loans that are no more than 90 days past due.
o CEE will follow customary, usual and prudent business practices in servicing
delinquent loans.
o CEE will send delinquency letters for loans 31- 60 days past due.
o CEE will continue sending letters and begin phone calls for loans 61-90 days past
due.
Late Delinquency
CEE will make reasonable efforts to contact Borrowers, solicit payments, and return loans to a
current status, where the loan has reached 90 or more days past due, in order to encourage
payment.
o CEE will follow customary, usual and prudent business practices in servicing
delinquent loans.
o CEE will send formal default letters for loans reaching 120 or more days past
due.
o CEE shall continue phone calls to borrower at 90 days past due.
o After 120 days past due, Client shall determine next steps and CEE shall have no
obligation to take further action regarding delinquent loans until directed by
Client.
DEFAULT MANAGEMENT
Client shall be solely responsible for declaring a loan to be in default, and determining whether a loan is
to be charged-off.
Loan Modifications
CEE shall respond to Client or Borrower requests for modifications to their loan terms, including
Repayment Plans, Forbearance Agreements, Deferments, Extensions, Short Sales (Pre-
Foreclosure Sales), or Negotiated Releases of collateral, obligors or guarantors (each a “Loan
Modification”).
CEE shall make no decisions independent of the Client. Client shall have final approval of any
Loan Modifications, unless Client has instructed CEE in writing that it may approve Loan
Modifications pursuant to criteria established by Client.
CEE will follow customary, usual and prudent business practices in its review and processing of
Loan Modifications, and keep Client informed of the status of such requests.
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Both Client and CEE recognize that time is of the essence in responding to and approving or
declining Loan Modification requests.
CEE shall monitor Borrowers for compliance with the terms of the loan modification and make
such changes to the loan record as required by the modification terms.
Special Servicing
CEE shall perform special servicing actions and steps at the direction of the Client for loans
subject to formal legal proceedings, including Bankruptcy, Foreclosure, Deed-in-lieu of
Foreclosure, Collections suits, Repossession, and Charge-offs involving either an obligor(s) or
guarantor(s).
CEE shall make no decisions or take actions independent of the Client, who shall have
final say in approval of any Special Servicing actions (other than routine steps taken to
protect or preserve Clients interests), unless Client has instructed CEE in writing that it
may approve and take such actions.
CEE must employ staff with expertise in the above areas and maintain compliance with
all applicable regulations.
CEE will follow customary, usual and prudent business practices in its review, processing, and
management of Special Servicing of Client loans, and keep Client informed of the status of loans
subject to Special Servicing.
Both Client and CEE recognize that time is of the essence in responding to and approving or
declining Special Servicing Actions.
CEE shall monitor Borrowers who are subject to Special Servicing, consistent with the governing
legal proceedings or requirements, and make such changes to the loan record as required to reflect
the Special Servicing requirements. With respect to Bankruptcy, the Special Servicing shall
include Filings, Proof of Claim, Repayment Plan setup and monitoring, and discharge/completion
processing. (See Exhibit B for pricing)
Other Servicing
CEE shall perform the following additional servicing actions and steps for loans as requested
by Client. CEE will follow customary, usual and prudent business practices in providing these
services. The Client shall bear all of CEE’s out of pocket costs for third parties related to these
items. CEE will notify Client of the potential out of pocket costs prior to performing any of the
additional actions.
o REO Marketing
o Insurance Inspections
o Default Inspections
o Property Valuation or Appraisal
o Property Preservation and security
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SUBORDINATION PREPARATION
CEE will review subordination requests in accordance with the Client’s subordination program
requirements. Subordinations will be forwarded to the Client for signature if request meets the
program requirements. Fees related to the subordination are paid by borrowers.
MORTGAGE SATISFACTION PREPARATION
Loan Payoffs
CEE will process loan payoffs, issue payoff statements as requested by authorized individuals
within 30 calendar days and remit funds to Client. CEE shall draft mortgage satisfactions
(“Satisfaction”) within 30 calendar days after loan is paid in full to ensure funds received are
cleared. The Satisfaction is then sent to client for signature. CEE shall provide instructions to
borrowers as to how to properly record the Satisfaction. In the event that $5 (five dollars) or less
of principle balance remains, CEE and Client will not attempt to collect the remaining fee and
will consider the loan as satisfied.
FINAL/SPECIAL PROCESSING TRANSACTIONS
CEE shall charge additional fees in special circumstances such as a charge-off, foreclosure,
servicing release, or any other transaction that is processed on a loan that is not paid in full but is
no longer an active loan on the servicing system. This does NOT include processing a paid in full
transaction.
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EXHIBIT B TO
LOAN SERVING CONTRACT
Pricing Schedule
Activity Description Pricing
New Loan Setup Loan Boarded to servicing system and
quality control review, welcome letter $ 20.00 one-time fee per loan
Standard Servicing Activities –
Amortizing Loans
Payment processing, billing notices,
customer service, investor reporting,
early collections
$10.00 per loan per month
Standard Servicing Activities-
Deferred Loans
Payment processing, customer service,
investor reporting $0 per loan per month
Collection Activity Collection Work for loans past due
15-90 days
$5.00 per loan per month on all
amortizing loans
Default Management
Example of activities: Repayment
Plan, Forbearance Agreement,
Deferment, Extension
$80.00 per hour plus any charges that
may be incurred from 3rd party
vendor.
Subordination Preparation Review request and Prepare
subordination document $150.00 per request (Borrower Paid)
Mortgage/Deed of Trust Satisfaction
Preparation
Create mortgage/deed of trust
satisfaction (excludes recording /
filing fees)
$30.00 one-time fee per loan
Final /Special Processing Transaction
For Charge-off, foreclosure, service
release, loans not paid in full but no
longer active on the servicing system
$25.00 per transaction
Conversion/On-Boarding Boarding Loans previously serviced
by a different company $20.00 one-time fee per loan
Optional/Additional Services
Special Report Programming Special report creation not included in
standard report package
$150.00 one time fee per report
Special Reporting Distribution Monthly maintenance for special
reports created for distribution $75.00 one time fee per report
Special Project work Special requests, such as assistance in
audit preparation, special mailings
etc...
$80.00 per hour plus any charges that
may be incurred from 3rd party
vendor.
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Non Standard Servicing Activities Any additional activities required
for servicing a loan not specified in
contract
$80.00 per hour, fee will be set
based on time to complete task on
a regular basis
The Mounds View Vision
A Thriving Desirable Community
Item No: 6D
Meeting Date: November 25, 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: Skyline Redevelopment Proposals
Introduction:
The Skyline redevelopment site is a 3.5 acre EDA owned site on four parcels with approximately
2 additional acres of adjacent land owned by Bauer Welding. After the first proposal for a hotel
fell through the EDA opened the site up to all types of products. Since that time, staff has been
diligently contacting a variety of developers. The developers who will be making presentations at
this meeting include: MWF Properties, Augusta Development, Ebert Construction, and Adams
French Property.
Discussion:
Staff has instructed the developers that for this round of proposals they were to have their
materials in by November 19, 2019. Further, the developers were instructed to submit a general
concept plan and overview of their vision/ideas for the site, what if any public subsidies they
require, and the size of the development. In addition, they were to inform staff if they are willing
to pair up and cooperate with other developers with a variety of products to maximize the space
and the City will consider how to split up the land to fit the projects.
For example, one developer many only need one acre while two other developers may need 2
acres each. While, another developer my need the entire EDA and Bauer Welding site to make
their project work. If there is a way to split the site into multiple parcels that fit each product, then
that could be considered. Bauer Welding has been cooperative throughout this process and they
are willing to work with the City on a variety of configurations.
After the EDA has heard each proposal and has asked each developer questions, the EDA will
discuss which projects they like and don’t like and determine which developers to bring back to
continue the process.
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. Continue and focus on public relations
activities.
Financial Impact:
None
Recommendation:
Hear all developer proposals and ask questions as needed. Once all developers have presented,
the EDA to make a determination of which developer(s) they would like to continue to work with
in developing a Purchase & Development agreement.
The Mounds View Vision
A Thriving Desirable Community
Once the EDA has made a determination of which developer(s) to move forward with, staff will
continue to cooperate with the developer(s) so that the developer(s) can present their blended
site plan, discuss options, developer partnerships, products, etc. at the Council’s January 6 Work
Session. Results from the Work Session will determine if the developers will be ready for any EDA
approvals at either the January 13 or 27 EDA meetings.
Respectfully submitted,
________________________
Brian Beeman
Assistant City Administrator
Attachments:
1. Skyline Redevelopment Site Comparison Chart
2. MWF Properties Proposal
3. Augusta Development Proposal
4. Ebert Construction Proposal
5. Adams French Property, llc Proposal
Example Concept
Name of Developer MWF Properties, llc Augusta Development, llc Ebert Construction Adams French Property
Type of Development Low-Income Workforce
Housing Progressive Care Senior Living Temperature Controlled Self
Storage
Temperature Controlled Self
Storage
Exterior Characteristics 4-Stories over one level below
grade parking
4-Stories over one level below
grade parking 3-4 Stories 3 Stories
Number of Units Proposed 96 Units 100 Units 700-800 Units 700 Units
Approximate Unit Mix 24 One-Bed, 45 Two-Bed, 27
Three Bed
12 Memory Care, 66 Assisted
Care, 22 Independent Living N/A N/A
Total Estimated Square Feet 114,280 Square Feet 129,000 Square Feet 115,000 Square Feet 105,00 Square Feet
Type of Financing Requested 15 yr Housing TIF None None None
Total Estimated Project Cost $24,000,000 $24,500,000 $6,000,000-7,000,000 $5,000,000-$7,000,000
Skyline Redevelopment Comparison Chart
MWF Properties, LLC
Mounds View – Skyline Motel Site
Summary of Proposed Redevelopment
MWF Properties, LLC proposes developing a 96-unit multifamily apartment building on a portion of the
City owned property, along with land to be acquired from Bauer Welding. Only a portion of the former
motel site will be needed for the MWF development. The majority of the motel site will be available for
other uses. A potential use of that remaining city land is for a new hotel. The conceptual site plans
submitted show how a 91 key hotel could be oriented.
Two conceptual site plans have been developed. The difference is how each treats the potential
wetlands that have been identified at the north end of the site. One plan (“D2”) is based on mitigating or
relocating the apparent wetlands further the north onto another city owned lot, that could also provide
the location for a stormwater pond shared by the entire redevelopment.
The second plan assumes the apparent wetlands remain. Working around the apparent wetlands
requires a retaining wall for a driveway around the wetlands, and a slightly larger lot for the apartment
building. The city parcel to the north would still provide stormwater management for the
redevelopment.
In both schemes the entire redevelopment will be served by a shared access on Old Highway 8.
The Proposed Apartment project:
• 96 units, composed of:
o 24 1-bedroom units
o 45 2-bedroom units
o 27 3-bedroom units
• 4 stories (approximately 114,280 sf) over one level of below grade parking (28,570 sf)
• Depending on the site plan, parking will be:
o D2: 84 garage stalls, 109 surface stalls, total 193 stalls – 2 stalls per unit
o E: 80 garage stalls, 112 surface stalls, total 192 - 2 stalls per unit
• The estimated weekday traffic generated by the apartment building is below. Other than parcel
deliveries typical for multi-family housing, and weekly garage pickup no significant truck traffic
will be generated.
Estimated Weekday Trip Generation for Proposed Apartment Building
Size Weekday AM Peak Hour Weekday PM Peak Hour Weekday Daily
In Out Total In Out Total Total
96 10 40 50 39 21 60 638
MOUNDS VIEW EDA MEETING
BAUER/OLD SKYLINE SITE PROPOSAL
11/25/2019
Proposed site area
Proposed layout if wetland mitigated
Proposed layout if wetland area avoided
Proposed Development
96 Unit multifamily workforce housing
-Four story building with underground parking
-Two stalls per unit. Eighty stalls underground.
-Estimated SF of building
25,870 SF footprint
129,350 SF total including underground parking
-Mix of one, two, and three bedroom units
-Site area would be 3.12 acres
2.27 Acres of Bauer Property
.85 acres of City (Skyline) property
Outlot suitable for several uses including:
-Mid size hotel
-Commercial/Retail
-Office/Industrial including Daycare and Dogpark
-Lot encompass remaining Skyline lot, all on Old Highway 8.
-Approximately 13,800 SF footprint
-Outlot land area approximately 2 acres
Proposed Development
(Continued)
96 Unit multifamily workforce housing:
-Approximately $24M in total development cost
-MWF would offer $535,000 for .85 acre City portion of land (asking price/sf)
-MWF would request a 15 year TIF note for workforce project (same as
Boulevard).
-In terms of traffic, MWF estimates approximately 638 trips per day (see below)
-MWF open to collaborating with other developers on outlot.
-MWF is flexible on size and layout of apartment building but less
units would impact what we can offer for the City’s land.
Sample Elevations
Sample Elevations
Sample Elevations
20'160'80'40'096 DWELLING UNITS 3.1497 Acres·24 1BR Units·45 2BR Units·27 3BR Units·84 Garage Parking Stalls·109 Parking Stalls on gradeMWF PROPERTIES7645 Lyndale Ave. S.Minneapolis, MN 55423MILLER HANSON ARCHITECTS218 Washington Avenue NorthSuite 230Minneapolis, MN 55401MOUNDS VIEW, MNS K Y L I N ESITE PLAN OPTION 1
20'160'80'40'096 DWELLING UNITS 3.1976 Acres·24 1BR Units·45 2BR Units·27 3BR Units·80 Garage Parking Stalls·112 Parking Stalls on gradeMWF PROPERTIES7645 Lyndale Ave. S.Minneapolis, MN 55423MILLER HANSON ARCHITECTS218 Washington Avenue NorthSuite 230Minneapolis, MN 55401MOUNDS VIEW, MNS K Y L I N ESITE PLAN OPTION 2
MOUNDSVIEW
PROGRESSIVE CARE
SENIOR LIVING
PROPOSAL
SUBMITTED BY:
AUGUSTA
DEVELOPMENT
CONTENTS
•Our Team
•Our Projects
•Proposal
3
Augusta Development LLC (AD) is a real estate development firm focused on senior living centers, market rate apartments and mixed‐use developments. AD prides itself on
partnering with industry leading architects, contractors and operators to build and operate top‐line facilities for its clients and ownership partners. AD’s team of partners have
combined to develop over $1.0 Billion in projects the past 10 years, consisting of over 100 projects and 7700 living units. Some highlighted Senior Living Projects include the
Yorkshire of Edina (100‐unit IL,AL, MC Senior Housing), Havenwood of Richfield (88‐unit IL, AL, MC Senior Housing Project), Legends of Champlin (184‐unit IL Senior Housing),
St. Therese of Woodbury (216‐unit IL, AL, MC, SC Senior Housing), Woodland Hills (160‐Unit IL, AL, MC, Senior Housing), and Havenwood of Minnetonka (101‐unit IL,AL, MC Senior
Housing) just to name a few. Augusta Development’s team seeks and secures strong marketable sites for its projects that provides for successful development, completion and well
desired interest from the marketplace. Augusta Development’s continuous involvement from start to finish as well as significant ownership once completed ensures that all partners
and owners receive impeccable service in each new project.
Bo Nickoloff
(651) 324-9492
bnickoloff@mesabacapital.com
Bo Nickoloff focuses on financial analysis, profitability, deal flow and partnerships for Augusta Development’s projects. He has
acquired these skills over the past 25 years as the Founder of Augusta Development, a boutique strategic advisory and
business management company and President and CEO of Larex, Inc. He applies these various skill sets developed over this
time to help grow and expand Augusta’s business.
Jared Gruett
(651) 600-6731
jared.gruett@gmail.com
Jared is a licensed real estate agent in Minnesota and Wisconsin. Jared brings 24 years of business, real estate and
development experience to the Augusta Development team. He currently owns and manages a portfolio of industrial,
commercial and residential properties as well as bar & restaurant in Downtown Minneapolis. He has successfully navigated
the development process and completed projects in several Metro Area cities. His applies his experience and people skills to
the management of Augusta’s projects, helping to ensure that the projects stay on track.
Our Team
4
Stuart Bestul
President/Pricipal
763‐251‐8700
sbestul@scbsconstruct.com
Experience in Senior Housing, Multi-family Housing, and Commercial construction, as Vice President, Project Manager, and
Estimator since 1983. Bachelor of Science Degree, Industrial Technology, Building Construction Management, from University
of Wisconsin -Stout.
CBS CONSTRUCTION SERVICES
CBS Construction is a team of highly skilled and experienced professionals. CBS Construction Services, Inc. has completed over a billion dollars in
construction projects consisting of Senior Housing, Affordable Housing, Market Rate Housing, Commercial Construction, Remodeling, Renovations, and
Historical Restoration. We are serious when we say “Building Value with Integrity” we really do put our clients first and build lasting relationships with all
our clients! We work together to complete your project to the best of our abilities. Integrity, hard work, honesty, and years of construction experience
describe the CBS Construction team. CBS personnel are there from ground breaking through the last punch-list item.
Since 1992, CBS Construction has been a successful builder of Senior, Commercial and Multi-Family structures.
The firm is wholly owned by Rob Borchardt and Stuart Bestul, bringing over 70 years of combined construction experience. Rob and Stuart individually
perform hands-on project management as well as general management duties for the firm.
5
Eric Reiners
Pricipal / NCARB / AIA
952-996-9081
eric@sra-mn.com
Eric Reiners, Principal, NCARB, AIA
Eric serves as a principal at Sperides Reiners Architects and contributes more than 25 years of experience to his active participation in all facets of daily practice.
Eric provides leadership in design and champions design excellence in every project, no matter how large or small. He brings a unique perspective to process of building development,
design and program application, contributing a substantial depth of knowledge and experience in the translation of client’s vision into creative yet practical solutions.
Eric is a great mentor for his staff and has also provided his leadership and teaching skills as a volunteer coach in the local community, from youth levels all the way through high school
varsity basketball programs. He spent more than 15 years actively volunteering in youth sports and local youth educational programs, and has also served as a guest design critic at the
University of Illinois, College of Design, Masters thesis presentations.
Educational and Professional Affiliations:
Over 25 years experience
Bachelor of Architecture, University of Minnesota
Bachelor of Environmental Design, University of Minnesota
NCARB certified
American Institute of Architects
Licensed Architect in 2 states
We Create a Platform of Flexibility
You choose the options that best work and fit your vision. As a result, our team is built for flexibility in all facets of the process, from initial concepts
through final construction. We guide and consult with you through the entire process with this flexibility in mind. Because flexibility is built in from the start,
the probability that your investment outcome will turn out positive is greater.
We Are Careful Planners at Every Step of the Process
Because every project has a myriad of issues and decisions that can quickly overwhelm even the most seasoned client, we use a detailed project plan
approach. By completing extensive planning upfront and updating those plans throughout the project, we keep the project focused,with responsive design,
that is on-budget and on-time. These principles motivate and guide our skilled team of design professionals. Thus, we build trust faster, communicate better
and make smarter decisions. When this occurs, we can deliver a project that functions properly and that is very “construct-able”with few if any technical
problems. Our leadership team is involved at every step of the process.
OUR PROJECTS
Augusta Development has completed 3 senior living projects, has 1 under construction, 1 in the pre-
construction process and 1 in the due diligence process.
HAVENWOOD OF
MINNETONKA
17710 OLD EXCELSIOR
BOULEVARD
MINNETONKA, MN 55345
HAVENWOOD OF
RICHFIELD
245 76TH STREET WEST
RICHFIELD, MN 55423
YORKSHIRE OF EDINA
7141 YORK AVENUE SOUTH
EDINA, MN 55435
Seven Hills Senior Living (St. Paul). Currently under
construction.
Plymouth Senior Living (name TBD). Currently
approved and in the pre construction process.
Maplewood Senior Living (name TBD). Land is
under contract and currently in the due diligence
period.
PROPOSAL
•The site will be developed and finished to accommodate a 100 unit senior housing
structure whose primary focus will be to provide independent living, assisted living and
memory care to senior citizens.
•Residents will experience a full continuum of care, allowing them to comfortably age in
place while supported by a full range available services.
•The site will host a full range of amenities such as, patios, gardens and walking paths. The
walking paths will connect to the existing public sidewalk on Old Highway 8.
•The approximate square footage of the building is 129,000 sqft.
•The proposed building is 4 stories
•The total number of proposed units is 100. The units are broken down as follows: 12 memory
care units, approximately 66 assisted care units and approximately 22 independent units. Our
design and construction process allows flexibility in the IL and AL units.
•The site will accommodate 55 surface parking spaces and 50 under ground parking spaces. The
anticipated truck traffic is minimal and limited to food service deliveries and facility support
deliveries.
•The estimated project cost is $24,500,000.00
•The project does not require or request any public financing.
•This proposal assumes utilization of the entire available study area.
100 Unit
Moundsview Senior Living
4 Story Development
105 parking spaces (50 underground)
Project Narrative
Temperature Controlled Self Storage
4889 Old Hwy 8, Mounds View MN 55112
Project site is a 1.5-2 acre portion of the former Skyline Motel location.
Ebert is proposing to build a 115,000 sq. ft. temperature controlled self storage facility at the site
of the former Skyline Motel in Mounds View. This building could be 3 or 4 stories depending on
the footprint we are able to achieve. This building would cost $6-$7 million to develop and build.
We would not require any public financing for this project. We are open to working with other
developers on the site. We are flexible regarding where on the site we are willing to build.
Typical hours of operation would be: Customer access daily 6:00 am to 10:00 pm. Office hours
Monday – Friday 9:30 am – 6:00 pm. Saturday 9:00 am – 5:30 pm.
Project design would be similar to our recent project in Brooklyn Park (photo included in
packet). Utility services at the property are in sufficient size and capacity for our intended use.
Parking & traffic: This size project typically requires less than 15 parking stalls, four being
handicap (see similar size projects below). Modern temperature-controlled facilities such as this
have very low traffic impact, on average sixty traffic counts per day.
Similar sized projects recently completed: 8570 Aspen Lane N, Brooklyn Park / 2960 Empire
Lane, Plymouth / 12995 Valley View Rd, Eden Prairie / 4400 Fountain Hills Dr., Prior Lake. All
range from 8 - 12 total parking, varies by city.
Additional Self Storage Information
Temperature Controlled Self Storage: The site would have all storage contained within the
building and no outside storage. Access for loading & unloading is all internal to the building by
way of a specific loading & unloading bay accessed by two overhead doors that allow for drive-
thru access for loading and unloading. The loading area is 40ft deep in depth and is designed to
accommodate U-Haul type trucks, vans, pickups or vehicles with trailers. The entire building is
light, bright, secure and temperature controlled. The building’s mix of storage units is anticipated
to be approx. 700+ ranging in size from 5x5 up to 10x30 size. No vehicle storage is allowed.
Customers are not allowed to store flammables, explosives, weapons, or toxic materials. No
dumpster for disposal of items is provided, a simple trash container is stored inside for office
staff.
Overall the building is very secure with cameras throughout the interior exterior. Secure code
access and even smart phone access can be used (tracks who accesses the building and for how
long). Customers find this type of environment safe/secure and a good place to store items.
Industry overview attached that provides additional information.
MEET THE FACE OF YOUR
NEW CUSTOMER
Why do people use Self-Storage Units?
Compared to other options such as renovating an existing building or renting
additional rooms, self-storage units provide an economical alternative for people
and businesses wishing to keep their assets and belongings in a secure location
that’s protected from the environment.
But beyond the financial considerations, there are several reasons why increasing
numbers of people are now using a self-storage unit as an extension of their
personal or professional space
PH (763) 498. 7844 FX (763) 498. 9951 (800) 627. 1669
Top 7 Reasons Why People Use Self-Storage Units
1. Renovating Your Existing Home
During those times when home or office improvements are underway, a self-storage unit
provides a safe temporary shelter for your valued movable items. Once the work is
complete, you then have the option of removing your belongings from storage and
restoring them to their original positions or taking the opportunity to re-plan your interiors.
2. Moving to a New Home
In a complex property market, moving to a new location isn’t always a straightforward
process that can be accomplished in a day. Delays often occur, and without a fallback option
you could be left in a real dilemma if your belongings are set to go, but your new premises
aren’t yet available. Self-storage provides a way station for holding your items until such
time as you’re ready and able to move them into their new home.
3. Changes in Relationship Status
When terminating a personal relationship in which cohabitation is involved, it’s often the
case that one partner or the other may desire (or even be legally required) to leave the
common residence and find alternative accommodation. Or partners forming a new
relationship may be in a hurry to leave their existing accommodations and set up house
together as quickly as possible.
4. A Safe Place for Equipment
Individuals or organizations who use equipment or hardware that operates on a seasonal
basis (such as ski equipment, gardening tools or camping gear) typically won’t want this
stuff cluttering up their home throughout the year.
5. You’re Often in Transit
Frequent travelers may have a need to acquire short-term accommodation that’s incapable
of holding all of their belongings. And shifting all of their valuables each time they make a
trip may simply be impractical. A self-storage unit solves these problems by providing the
space and protection necessary for holding items that aren’t required on your travels. And
rental contracts may be negotiated for whatever length of time is most convenient for the
duration of your trip.
PH (763) 498. 7844 FX (763) 498. 9951 (800) 627. 1669
Top 7 Reasons Why People Use Self-Storage Units
(cont.)
6. Storing Business Inventory or Archives
Both large business organizations and smaller entrepreneurs often have the need to store
samples, inventory, business archives, and important documents relating to their work. But
with office and warehousing spaces taking a serious bite out of their annual budgets,
renting larger premises may not be the best or most economical option.
Self-storage units can provide climate and environment controlled “mini-warehouse”
facilities at a significantly lower cost than a full-blown property rental. Access to inventory
and archives is typically available whenever the owner wants it, and the security controls
offered by a reputable self-storage facility give business users the assurance that their
valued assets will always remain physically safe.
7. Simply Running Out of Space
For anyone who’s running out of space for their belongings in their home or office setting, a
self-storage unit provides a secure and economical option for accommodating the surplus.
Likewise, self-storage is a sensible option for anyone who’s looking to decongest their
existing living or workspace by shifting items that they don’t need to see every day but
nonetheless wouldn’t want to lose entirely.
Self-storage units are available in a wide range of sizes, and rental contracts may cover both
short and longer terms of storage. Environment and climate-controlled units are available
(depending on the storage facility) to accommodate virtually anything – within reason –
that you might want to store.
PH (763) 498. 7844 FX (763) 498. 9951 (800) 627. 1669
Adams French Property, LLC:
Mounds View Self-Storage Opportunity
Project Overview
•Adams French Property, LLC is proposing the development of a state-of-the-art self-storage facility in Mounds View, MN
•The proposed use is self-storage, a viable use for the property that provides climate-controlled storage space to the residents
and businesses of Mounds View, MN.
•The project will consist of a 3 story fully enclosed, climate controlled, Class A self storage facility. The building will be 105,000
square feet gross, yielding roughly 75,000 rentable square feet of storage space. There will be approximately 700 storage units
ranging from 25 square feet to 300 square feet in size.
•The total cost for a facility of this size and quality will be in the $5 -7 Million range.
•The facility will offer several amenities that set it apart from traditional self storage:
•Primarily, the look and design of the facility is built to mimic surrounding retail and office developments, unlike tradition al
storage facilities that are rows of drive up garages and gravel access roads.
•The property will offer climate-controlled storage units, with additional drive-up units in the back that will be hidden from
public view outside the facility.
•The property will have a fully enclosed drive-thru tunnel for loading and unloading into the main building that can
accommodate box trucks up to 40’ long.
•The property will be secured 24 hours a day with security cameras throughout the facility, and gated access to all units.
•There will be two full time managers on site to assist customers
Concept Site Plan
Traffic and Parking
TRAFFIC
•Self storage is one of the lowest traffic generating commercial uses.
•A facility of this size (75,000 rentable square feet) generates on average 51 visits per day, or 3 -4 cars per hour for the 16 hours
that the facility is open from 6AM-10PM.
•The facility is designed to screen customer traffic from the public, by hiding outdoor storage doors, and including the inter ior
drive thru tunnel and loading/unloading areas
PARKING
•A facility of this size is designed with 12 parking spaces, which is more than enough to accommodate the 3 -4 customers per
hour.
•City Code states that the parking ratio for warehousing in the I -1 zoning district is 1 for every 2,000 ft of building. Per Code, this
facility would require 48 parking spaces.
•While we could accommodate more than 12 parking spaces if the City requires us to do so, we would look to obtain a variance
for parking.
Company Overview
French Property Management, LLC was formed in 2005 by the founder Phil French, which later became Adams French
Property, LLC. With offices in Zionsville and Indianapolis, Indiana, Adams French Property is a company focused on self -
storage development, acquisitions and operations, as well as credit-tenant retail development opportunities. The
principals are Phil French -President and CEO, and Jim Adams -COO. Adams French Property’s core business is focused
on growing self-storage properties in the US marketplace through acquisition and development.
The company has owned and operated multiple self-storage facilities which represents approximately 775,000 square
feet of storage throughout the state of Indiana, Chicago IL, and Minneapolis/St. Paul MN.
Extra Space is the second largest self-storage REIT by size behind Public Storage, and the largest third-party management
company for self-storage in the country. They are the leader in self -storage management and are contracted with
Adams French Property to manage all future storage locations.
Adams French has extensive experience in multiple real estate asset types including self -storage, retail centers, and
undeveloped land. Adams French looks for synergies within the real estate development business that can augment
their core self-storage portfolio. Adams French businesses are driven by knowledge, planning, execution, consistent
management, and continued wise investments.
Modern Self Storage Design Portfolio
The following slides contain pictures and examples of self storage facilities that have been built in the last few years.
Some of these are facilities that we have built, and some are facilities that our associates have built. This concept
package is intended to show the wide variety of design options for the proposed facility in Mounds View.
Modern Self Storage Design Examples
Modern Self Storage Design Examples
Modern Self Storage Design Examples
MOUNDS VIEW SELF-STORAGESITE CONCEPT 1MOUNDS VIEW, MN11-19-1903060120SITE DATA:ZONING: I-1, WAREHOUSESMINIMUM LOT AREA: 1 ACRE SITE TOTAL: 2.14 ACRES (ESTIMATED)BUILDING SETBACKS:- FRONT: 40'- SIDE: 20' (40' TO RES.)- REAR: 40'- CORNER SIDE: 30'PARKING SETBACKS:- FRONT: 40'- SIDE: 5' (30' TO RES.)- REAR: 5' (30' TO RES.)PARKING RATIO:- OFFICE: 1:200- WAREHOUSE: 1:2,000STALL SIZE: 9' X 20' (18' W/ 2' OVERHANG)