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• MEMORANDUM <br /> DATE: December 26, 1997 <br /> TO: Mike Mornson, City Manager <br /> FROM: Roger Larson, Finance Director <br /> ITEM: HOLDING PONDS/APACHE PLAZA <br /> In May of 1996, the City entered into an agreement with St. Marie Company called the <br /> "Stormwater Maintenance and Easement Agreement" in conjunction with the holding <br /> ponds at Apache Plaza. <br /> St. Marie Company constructed the holding ponds and upon completion conveyed the <br /> ownership of the ponds (Outlots A,B & C) to the City. Under the terms of the <br /> agreement, the City has agreed to maintain, operate and repair the stromwater and <br /> drainage ponds. <br /> However, all costs associated with operation, maintenance and repair shall be paid by <br /> the owners of the property which include: <br /> 1) Cub Foods <br /> 2) First Bank <br /> 3) Video Update <br /> 4) Freedom Gas <br /> 5) Tire Plus <br /> 6) Taco Bell <br /> 7) Main Mall/New Market (Welch Companies) <br /> Finance has billed and received payment in full from the above entities. Included in the <br /> monies received were the 2nd half 1997 property-taxes for the holding ponds (totaling $ <br /> 9,281.58) which the H.R.A. paid. <br /> To reimburse the Housing and Redevelopment Authority, the funds should be <br /> transferred to the H.R.A. Please note that with the City now owning the Outlots, <br /> Ramsey County has classified the holding ponds as "exempt". <br /> Recommendation: <br /> • Council approve the transfer of$9,281.58 to the Housing and Redevelopment <br /> Authority to reimburse the H.R.A. for payment of the property taxes. <br />