Laserfiche WebLink
I <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />II <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />City Council Regular Meeting Minutes <br />June 12 ,2012 <br />Page 9 <br />V. <br />Mayor Faust stated the issue has always been a land use issue and he was disappointed in the <br />path taken by the community in turning religion against religion and people against people. He <br />reiterated this is a land use issue and the City Council has to look at the long term effects on the <br />community. He noted that the City Council denied a CUP for a place of worship on October 25 , <br />20 II , in the LI district a couple blocks away from this building. He stated this is not a <br />compatible use with the other buildings and he sees this as spot zoning inside a building that <br />goes against every tenet of good planning. He stated he will not support the CUP request and <br />will support denial of the CUP because of the land use issue . <br />Motion carried 4-1 (Roth opposed). <br />Mayor Faust recessed the City Council meeting at 8:48 p.m. <br />Mayor Faust reconvened the City Council meeting at 8:51 p .m. <br />GENERAL BUSINESS OF COUNCIL. <br />A . Resolution 12-054: Relating to a Senior Rental Housing Development Agreement by and <br />among the City of Saint Anthony, Minnesota, the Housing and Redevelopment Authority <br />of the City of Saint Anthony, Minnesota and St. Anthony Leased Housing Associates II, <br />Limited Partnership (The "Developer"). Jay Lindgren, Dorsey & Whitney, presenting. <br />C it y Attorney Lindgren presented the Development Agreement for the Dominium Senior <br />Housing Project and noted the terms of the Development Agreement are consistent with what <br />was presented by Ms. Kvilvang in May. He explained the Development Agreement calls for the <br />acquisition of one parcel from the HRA and one parcel from Pratt for a total purchase price of <br />$1 ,2 16 ,000 or $8,000 per unit with the City'S share of the land sale proceeds of$643 ,021. He <br />noted there is a purchase price adjustment if estimated construction costs are less than what is <br />estimated and payment can increase up to $10 ,000 per unit with the City receiving a prorated <br />share. He stated Dominium agrees to execute a Minimum Assessment Agreement of $85 ,000 <br />per unit for the duration of the tax increment district ending in 2029. He indicated the developer <br />would commence construction no later than September 30 , 2013 , with the goal to start March I , <br />2013, and completion by October 31 , 2014 . He advised the City will issue a pay as you go TIF <br />Note for $1 ,023 ,000 upon execution of the Minimum Assessment Agreement. He stated the <br />Development Agreement includes a look back provision that within 60 days of stabilization or <br />90% occupancy , if the Internal Rate of Return is greater than 20% to the developer, 50% of that <br />amount would go toward reducing the principal amount of the TIF Note. He indicated <br />Dominium will also reimburse the City and HRA for all costs related to negotiating the <br />Development Agreement and Dominium also agrees to pay regular and customary park <br />dedication fees totaling $228 ,000. <br />Motion by Councilmember Gray , seconded by Councilmember Jenson , to approve Resolution <br />12-054; Relating to a Senior Rental Housing Development Agreement by and among the City of <br />Saint Anthony, Minnesota, the Housing and Redevelopment Authority of the City of Saint <br />Anthony , Minnesota and St. Anthony Leased Housing Associates II , Limited Partnership (The <br />"Developer").