2002.02.19 CC Minutes - Laserfiche WebLink

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City Council meeting of February 20, 2002 Page 5 RCWD's Engineer EOR presented options to the Task Force regarding the design and cost estimates for the design options. Council Members Frank Puleo and Becky Petryk were in attendance at the meeting along with the City's Water Resource Engineer Pete Willenbring from WSB Engineers. Pete reviewed the direction given to EOR by the Blue Ribbon Task Force at their February 7, 2002 meeting. Council listened to the presentation from Pete and provided direction to staff regarding the final culvert design and funding options beyond those that would be included in the City/RCWD grant application to MNDOT for funding the work. Granger made motion, Haas seconded, to support the staffs recommendation made at the Blue Ribbon Task Force Meeting to limit the head loss at each crossing to less than 0.25' of stage increase. All aye. Motion Carried. STREET NAMING ORDINANCE In fall 2001, the Hugo City Council directed staff to prepare a street naming ordinance that would allow the City to opt out of the County's street naming policy, which covers the City. As Council is aware, developer Len Pratt had requested from Council the opportunity to capture the unique French heritage in the naming of his street in Victor Gardens. The County's street naming policy is too restrictive. City Attorney Dave Snyder prepared a street naming ordinance whereby the City would opt out of the County street naming policy and allow for assignment of street names by the developer or builder with approval by the City's Building Official. City staff recommended Council adopt the new street naming ordinance and repeal the existing Chapter 278 -Street Name. Haas made motion, Granger seconded, to adopt ORDINANCE 2002-356 AN ORDINANCE REPEALING EXISTING CHAPTER 278 — STREET NAMES. VOTING AYE: Granger, Haas, Petryk, Miron VOTING NAY: NONE Motion Carried. MINNESOTA UNION BUILDERS SALE OF TIF BOND AND APPROVAL OF DEVELOPMENT AGREEMENT In fall 2001, the Council.approved the sale of $6.5 million in Industrial Revenue Bonds for Minnesota Union Builders to finance the acquisition of land and construction of the new facility in the Bald Eagle Industrial Park. The owners of Minnesota Union Builders are in need of additional financing and requested City authorization to issue a Taxable Tax Increment Revenue Note to be purchased by two banks in Iowa. Frank Dunbar and Jim Boo have reviewed this TIF agreement with City staff and the City's finance advisor, Springsted, along with City bond counsel, Mary Ippel from Briggs and Morgan. City Attorney Dave Synder also reviewed the revised Development Agreement, including the TIF note. The developer will pay all City consultant fees, with no charge or risk to the City. Approval of the refunding bonds is necessary because the initial revenue bonds were parked in December. Haas made motion, Miron seconded, to adopt RESOLUTION 2002-3 A RESOLUTION AWARDING THE SALE OF AND PROVIDING FOR THE TERMS, COVENANTS AND DIRECTIONS FOR THE ISSUANCE OF ITS TAXABLE TAX INCREMENT REVENUE NOTE (HUGO LAND