HomeMy WebLinkAbout2008/03/24 - ADMIN - Agenda Packets - City Council - Study SessionAGENDA
CITY COUNCIL STUDY SESSION
COUNCIL CHAMBERS
6:30 P.M.
MARCH 24, 2008
Discussion Items
1. 6:30 p.m. Future Study Session Agenda Planning
2. 6:35 p.m. Planning Commission 2007 Annual Report and 2008 Work Plan (Commission
Present)
3. 6:55 p.m. West 36th Street Reconstruction Streetscape Update
4. 7:40 p.m. Hoigaard Village Redevelopment Contract
5. 8:10 p.m. Parks & Recreation Advisory Commission 2007 Annual Report and 2008
Goals (Review)
6. 8:20 p.m. BOZA 2007 Annual Report 2008 Goals (Review)
7. 8:50 p.m. Communications (verbal)
Written Reports
8. February 2008 Financial Report
9. Redevelopment Agreement – Erv’s
10. Comprehensive Plan Update
11. Zoning Ordinance Amendments
9:00 p.m. Adjourn
Auxiliary aids for individuals with disabilities are available upon request. To make arrangements, please call
the Administration Department at 952/924-2525 (TDD 952/924-2518) at least 96 hours in advance of meeting.
Meeting Date: March 24, 2008
Agenda Item #: 1
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Future Study Session Agenda Planning – April 14, 2008.
RECOMMENDED ACTION:
Council and the City Manager to set the agenda for the Monday, April 14, 2008 Study Session.
POLICY CONSIDERATION:
Does the Council agree with the agenda as proposed?
BACKGROUND:
At each study session, approximately five minutes are set aside to discuss the next Study Session
agenda. For this purpose, attached please find the tentative agenda and proposed discussion items
for the Study Session on April 14.
FINANCIAL OR BUDGET CONSIDERATION:
None.
VISION CONSIDERATION:
None.
Attachment: Future Study Session Agenda Planning for April 14, 2008
Prepared by: Nancy Stroth, City Clerk
Approved by: Tom Harmening, City Manager
Meeting of March 24, 2008 (Item No. 1) Page 2
Subject: Future Study Session Agenda Planning
Future Study Session Agenda Planning
Tentative Discussion Items
Monday, April 14, 2008 – 6:30 p.m.
1. Future Study Session Agenda Planning – Administrative Services (5 minutes)
2. Telecommunications Advisory Commission 2007 Report 2008 Goals (Commission Present)
Community Development (20 minutes) The City Council previously reviewed the TAC’s
annual report and work plan at their March 10, 2008 Study Session. The Commissioners
and staff liaisons will be present to discuss the Annual Report and Work Plan with Council.
Council will be asked to provide feedback to the Commissioners.
3. Parks & Recreation Advisory Report 2008 Goals (Commission Present) –Park & Recreation
(20 minutes) The City Council will be reviewing the PRAC’s annual report and work plan
at this March 24, 2008 Study Session. The Commissioners and staff liaisons will be present
April 14 to discuss the Annual Report and Work Plan with Council. Council will be asked
to provide feedback to the Commissioners.
4. West 13th Lane Properties – Community Development (30 minutes)
Given the development community’s apparent lack of interest in developing a mixed use
(residential & commercial) project on this .88 acre site, is the city willing to consider an
office development on the site by TOLD Development?
5. Dangerous Dog Ordinance – Police Department (45 minutes)
Staff to discuss and receive direction on rationale behind amendments to Chapter 4 of the
City Code regarding procedures and registration of dangerous dogs. State law lists the
minimum requirements on the owner of a dangerous dog or a potentially dangerous dog.
Does council want to add requirements to the list of minimum requirements?
6. 36th Street Public Art – Parks & Recreation/Community Development (30 minutes)
The initial design/development phase for public art along 36th street has been completed.
Staff would like to explain to the City Council what the art will look like and where the art
will be place prior to proceeding with the construction of the projects.
7. Advertising and Sponsorship Guidelines – Communications (20 minutes)
A report regarding this matter was sent out to the Council earlier this month.
Councilmember Sanger has requested this item be placed on a study session for discussion.
This item relates to the adoption of guidelines for the use of advertisement and sponsors for
city publications and other media.
8. Communications – Administrative Services (10 minutes)
Time for communications between staff and Council will be set aside on every study session
for the purposes of information sharing.
9:30 p.m. End of Meeting
Meeting Date: March 24, 2008
Agenda Item #: 2
Regular Meeting Public Hearing Action Item Consent Item Resolution
Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Planning Commission 2007 Annual Report and 2008 Work Plan.
RECOMMENDED ACTION:
This report summarizes work performed by the Planning Commission in 2007 and outlines the
intentions of Planning Commission work to be completed in 2008. The Planning Commission and
planning staff request feedback and guidance from Council regarding the reports.
POLICY CONSIDERATION:
Does the Council feel comfortable with the Planning Commissions 2008 Work Plan?
BACKGROUND:
In accordance with Council policy, the 2007 Annual Report and 2008 Work Plan are attached and
were sent to the Council earlier in March. Members of Planning Commission are planning to meet
with Council at the March 24th study session for discussion and guidance.
FINANCIAL OR BUDGET CONSIDERATION:
Not Applicable.
VISION CONSIDERATION:
The 2008 Planning Commission Work Plan intends to address nearly all of the focus areas of the
Vision Process through incorporating Vision into the Comprehensive Plan update.
Attachments: Planning Commission 2007 Annual Report and Work Plan
Prepared by: Meg J. McMonigal, Planning and Zoning Supervisor
Approved by: Tom Harmening, City Manager
Meeting of March 24, 2008 (Item No. 2) Page 2
Subject: PAC Annual Report and Work Plan
St. Louis Park Planning Commission
2007 Annual Report
Inglewood Condominiums, 3125 Inglewood Avenue South
Prepared by the City of St. Louis Park Community Development Department
Meeting of March 24, 2008 (Item No. 2) Page 3
Subject: PAC Annual Report and Work Plan
2007 St. Louis Park Planning Commission
Claudia Johnston-Madison, Chair
Robert Kramer, Vice-Chair
Jerry Timian, School Board Representative
Dennis Morris
Carl Robertson
Lynne Carper
Richard Person
St. Louis Park Planning Staff
Meg J. McMonigal, Planning and Zoning Supervisor
Sean Walther, Senior Planner
Gary Morrison, Assistant Zoning Administrator
Adam Fulton, Planner
Nancy Sells, Administrative Secretary
Meeting of March 24, 2008 (Item No. 2) Page 4
Subject: PAC Annual Report and Work Plan
In 2007, the Planning Commission held public hearings on numerous applications. The cases are
listed by type, and the projects are described in the paragraphs to follow.
Total 2007 Cases:
8 Conditional Use Permits
1 Comprehensive Plan Amendments
2 Rezonings
3 Zoning Code Amendments
7 Subdivisions
1 Variance
5 Planned Unit Developments
The quantity of cases before the Planning Commission decreased in comparison to previous
years.
Major Development and Redevelopment
2007 saw several major projects come before the Planning Commission for review. Briefly
summarized, the developments are discussed below:
NordicWare (Northland Aluminum) Plat – NordicWare brought forward a plat to combine all their
parcels into a single lot. The plat was part of a broader strategy by NordicWare to improve its
retail operation. NordicWare purchased and is now operating its retail operations out of the
former veterinary clinic just north of the manufacturing buildings.
Village in the Park II – Village in the Park II was reviewed by the Planning Commission and
received preliminary approval in 2007. This complicated redevelopment included both retail
and housing, located at the corner of Wooddale Avenue and 36th Street. At the end of 2007, it
is seems unlikely that the project will come forward as proposed for final approvals.
Frauenshuh Cancer Center – Methodist Hospital proposed a 75,000 square foot building addition
for the Frauenshuh Cancer Center and a five-level parking ramp on the north end of the
Methodist Hospital Campus. The project also incorporates improvements to green space,
landscaping, stormwater management and circulation on the campus. Construction work
began in October 2007 and will be completed in late 2009.
Hilton Homewood Suites – Torgerson Properties proposed the construction of a seven-story hotel
on a portion of the site of the Associated Bank office building. The hotel, which will be under
construction in 2008, will have 125 rooms and features major improvements to the entire site’s
landscaping, outdoor recreation space, and pedestrian circulation. The project also includes a
green roof, the first to be featured on a commercial building within St. Louis Park.
West End Retail (Duke redevelopment) – Duke Realty proposed the completion of site work on its
43.5 acre redevelopment site at the corner of Highway 100 and I-394. Requested was approval
of the preliminary plat together with a conditional use permit for grading. Substantial grading is
required to improve soils for construction and to permit the future completion of underground
parking areas. This project will come before the Planning Commission again in 2008 for
additional review.
Melrose Institute - In a unique partnership between the City of St. Louis Park, Park
Nicollet, and United Properties, a redevelopment was proposed for the site at
3515 Beltline Boulevard. The Melrose Institute, a 67,000 square foot, three-story
building, will be dedicated to the treatment of eating disorders. It will be
accompanied by a three-level parking ramp, numerous landscaping and site
Meeting of March 24, 2008 (Item No. 2) Page 5
Subject: PAC Annual Report and Work Plan
improvements, and the preparation of two potential future building sites for a
civic use.
Single Family Developments
2007 was an active year for new development in single family areas of the City. Some of the
most notable projects reviewed by the Planning Commission include:
2821 Nevada Avenue South – Construction on this single-family lot is complete. This site required
a CUP for substantial fill and grading. As a condition of approval, it was required that the
developer install stormwater control improvements.
2849 Jordan Avenue South – A small residential subdivision along Hannon Lake, this proposal
provides the City with additional ownership of the lake’s frontage and provides a single new
building site for a future resident.
9340 West 28th Street – This proposal was an additional small residential subdivision along Hannon
Lake. In this case, a single new lot is created for additional single family housing within the City.
2942 Boone Avenue South – The proposal for 2942 Boone Avenue South creates two new lots
within the City. Two lots will have access to Cavell Avenue South and one will have access to
Boone Avenue South. The developer also provided addition right of way for Minnetonka
Boulevard and for a potential future trail expansion.
Zoning Amendments
The Planning Commission reviewed several major amendments to the Zoning Ordinance during
2007. These amendments, now adopted by the City Council, have made the Zoning Ordinance
a more functional document and will enhance the community by improving the final product in
development. Major amendments reviewed during 2007 included:
• A complete revision of landscaping and off-street parking standards. The Planning
Commission reviewed modifications to each proposed ordinance and made
recommendations on issues not thoroughly addressed previously. Major changes
include:
Flexibility to allow improved landscaping in the most intensely developed urban
areas of the City, encouraging the construction of public art, green roofs, and
low impact design.
A requirement that bicycle parking be provided in all locations that automotive
parking is provided.
Enhancements to more accurately and effectively utilize off-street parking areas
throughout the City.
• Modifications to the floodplain overlay district, providing a more precise delineation of
the floodplain’s location in the vicinity of Methodist Hospital.
Meeting of March 24, 2008 (Item No. 2) Page 6
Subject: PAC Annual Report and Work Plan
St. Louis Park Planning Commission
2008 Work Plan
1. 2008 Comprehensive Plan Update – Work closely with Staff to update and revise the 2020
Comprehensive Plan to reflect:
The intent of the City’s 2006 Visioning Process
Redevelopment that has occurred since the completion of the previous Comprehensive
Plan
New planning trends and city‐wide redevelopment goals
An improved plan that will be utilized and will inform the regular work completed by
the Planning Commission, City Staff, and the City Council
2. Updates to the Zoning Ordinance – Continue work to update the Zoning Ordinance including
such items as Pawnshops, Floodplain, Signs, Planned Unit Development (PUD), Trash / other
utility containers and structures, zoning districts adjacent to neighborhoods and other matters as
they arise.
3. Review Planning Applications – Hear applications for Conditional Use Permits (CUPs), Planned
Unit Developments (PUDs), Comprehensive Plan Amendments, Rezonings, Preliminary Plats
and variances. Hold public hearings, discuss planning impacts, and make recommendations to
the City Council.
Potential Applications:
West End (Duke) Redevelopment – rezoning, PUD, plat
Village in the Park II site
Santorini restaurant site
Small subdivisions
Erv’s redevelopment site
Al’s Bar site
Oak Hill II – medical office building
Redevelopment of Citgo at Cedar Lake Road and Louisiana
Meeting Date: March 24, 2008
Agenda Item #: 3
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Project Update - W. 36th Street Streetscape - Project 2008-2600.
RECOMMENDED ACTION:
The purpose of this item is to update the Council on the project development, proposed street
improvement phasing (long term and short term), and to provide any additional information or
answers to questions that Council may have.
POLICY CONSIDERATION:
Is the City Council comfortable with the direction and schedule for the proposed improvements?
Are there any Council questions or concerns relating to this project, including schedule, timing of
other activities, cost and funding, etc.?
BACKGROUND:
Over the past few years a portion of the Elmwood Neighborhood, more closely defined as the area
surrounding 36th Street and the intersection of 36th and Wooddale, has received a significant amount
of activity and attention. It will continue to see activity in the coming years as more redevelopment
activity, traffic growth, and nearby traffic improvement projects all occur.
Recent redevelopment activities such as Hoigaard Village and Village in the Park (Rottlund Homes)
have helped to bring an added awareness of traffic issues in this area. The upcoming reconstruction
of the Highway 7/Wooddale intersection, the construction of an LRT station at Wooddale, and
other potential redevelopment activities in the immediate and greater area bring an extra sense of
urgency to assure that the future roadway and transportation infrastructure in this area will function
adequately.
As a result, the City recently retained SRF Consulting Group, Inc. (SRF) to provide additional
technical evaluation to better assess and anticipate future transportation needs in this area, including
pedestrian and bicycle needs.
Streetscape
Last year, in conjunction with the Hoigaard Village Development, the City of St. Louis Park was
awarded a Livable Communities Development Account Grant by the Metropolitan Council. The
grant of $1,500,000 was awarded to pay for several aspects related to the redevelopment of W. 36th
Street (Highway 100 to Wooddale Avenue) in the Elmwood Neighborhood. The grant essentially
provides funding for the following:
Meeting of March 24, 2008 (Item No. 3) Page 2
Subject: Project Update - W. 36th Street Streetscape - Project 2008-2600
1. A regional stormwater pond (now near completion) within the Hoigaard Village
redevelopment that serves a portion of the greater Elmwood Neighborhood.
2. Demolition of sidewalk and other structures in the right-of-way in preparation for pedestrian
amenities on W. 36th Street.
3. Construction of new sidewalks, street lighting, benches, bike racks, and other streetscape
amenities along W. 36th Street.
Some of these improvements are already being constructed in front of Hoigaard Village as part of the
construction of that project. However, the construction of remaining streetscape improvements on
36th Street must be considered in relation to the future roadway design needs of 36th Street.
Roadway Improvements (36th Street and Wooddale)
The future design requirements for 36th Street and Wooddale Avenue (including the intersection of
the two streets), are dependent on future traffic projections based at least in part on the following:
1. Future redevelopment in this area, particularly south of 36th Street.
2. Construction of a future LRT Station
3. Possible future expansion of facilities at Park Nicollet and other surrounding properties.
4. Traffic impacts related to the Highway 7/Wooddale Avenue interchange improvement and
the planned Highway 100 “full-build” project.
5. Future pedestrian and bicycle transportation needs based on local and other destinations.
6. Ultimate streetscape enhancements for the 36th Street corridor, including incorporation of
public art.
7. Creating a safe and inviting environment that considers all of the above, including access to
public properties.
Specific traffic related and other impacts associated with the above items are unknown at this time,
and may not be known until area redevelopment occurs or is completed. As a result, constructing a
full streetscape at this time without knowing the future roadway needs of 36th Street is difficult, at
best. This is especially challenging since the Livable Communities Grant funding (for the streetscape
improvements) must be committed by the end of this year.
SRF just recently completed an updated traffic study for this area in a report dated February 29,
2008. As a result, SRF has prepared a phased plan for roadway and streetscape improvements. This
will allow for roadway and streetscape improvements to occur in a phased manner that considers
traffic patterns and needs as the surrounding area redevelops and changes over time. This will allow
for avoiding or minimizing the amount of costly removals or “ripping out” of existing improvements
as newer improvements are needed as well as attempting to preserve adequate right of way for future
needs.
PROPOSED PHASING OF IMPROVEMENTS:
SRF has prepared the following recommended improvement phases:
Meeting of March 24, 2008 (Item No. 3) Page 3
Subject: Project Update - W. 36th Street Streetscape - Project 2008-2600
Interim (2008) Concept (Exhibit to be presented at Study Session)
1) Leave existing street configuration and striping as is.
2) Construct “full” streetscape improvements, to the extent possible, on the north side of 36th
Street, knowing that the north curb line is “fixed”. However, the intent would be to acquire
additional right of way to accommodate on street parking on the north side of the roadway
as properties redevelop, similar to what has already been done at Hoigaard Village.
3) Construct “minimal” streetscape improvements along the south side of 36th Street, allowing
for additional parking bays, sidewalks, and streetscaping in the future as redevelopment
occurs. Lighting that can easily be salvaged and re-used would be proposed.
4) Construct a traffic signal at the intersection of 36th and Xenwood currently slated for
construction in 2009.
Intermediate (2012) Concept (Exhibit to be presented at Study Session)
After completion of the TH 7/Wooddale Interchange and Xenwood/36th signal improvements,
traffic needs in the area should be reevaluated. These two (2) improvements are expected to
improve traffic flow in the area and current projections suggest that 36th Street could be reconfigured
as follows:
1) Re-Stripe 36th Street as a 3-lane roadway (1 lane each direction, a center dual left turn lane);
2) Stripe 6 foot bike lanes on each side of the street;
3) Re-Striping can occur as part of a mill and overlay project within the existing curb lines.
An alternative to the 3-lane configuration mentioned above would be to leave the road in its current
undivided 4-lane configuration and resurface the street as it exists. These options can easily be re-
visited in 2012 (after the TH 7/Wooddale improvements are completed and actual traffic changes
are known) to determine the best course of action at that time. West 36th Street is currently listed in
the Capital Improvement Program (C.I.P.) for improvement in 2012.
Ultimate (2030) Concept (Exhibit to be presented at Study Session)
Based upon full redevelopment in the area and projected traffic growth out to 2030, staff requested
SRF to develop an ultimate design concept that would accommodate all desired design goals in total.
This would include full roadway and streetscape design and amenities, including turn lanes and
medians, on-street parking, and the incorporation of other Vision related goals such as complete
pedestrian and bicycle accommodations as follows:
1) 4 lanes (2 through lanes in each direction) along with an on-road bike lane on each side.
2) Designated left turn lanes at full access intersections.
3) Parking bays on both sides of the street.
4) Center raised median with landscaping.
5) Full sidewalk and streetscape amenities on both sides of the street, including public art.
Meeting of March 24, 2008 (Item No. 3) Page 4
Subject: Project Update - W. 36th Street Streetscape - Project 2008-2600
This concept continues to “hold” the north curb line and provides for roadway and right of way
expansion to occur on the south side of 36th Street. This allows for future development and
expansion to occur consistent with the establishment of the Hoigaard Village streetscape
enhancements.
CURRENT DESIGN AND WORK STATUS
The Year 2030 concept requires a significant amount of Right of Way from the property located at
the southeast corner of the intersection of 36th Street and Wooddale and as a result, would further
tighten development opportunities for the parcel. In addition, staff has reviewed this design further
with SRF to determine if Right of Way takings from the south side of 36th could be reduced. This
evaluation was performed in consideration of maintaining the following future goals:
1. That the roadway, from an operational and safety standpoint, may need to be upgraded to a
4-lane section to handle traffic and function adequately based on possible traffic levels in
2030.
2. That accommodation for bicycles, pedestrians, and on-street parking is provided in the
future.
3. That near term streetscape enhancements be maintained while providing additional corridor
enhancements desired as re-development and further growth occurs.
As a result, SRF provided staff with various proposed cross sections attempting to meet the above
goals, while allowing for a reduced right of way taking from the south side of the street. It must be
noted that reduction in right of way width from the ultimate concept may mean compromising
certain features, such as wide landscaped medians, on-street bicycle lanes, and/or protected left turns.
Staff proposes to move ahead as follows:
1. Based on the work conducted by SRF, it would appear that 10 feet of additional right of way
on both sides of the roadway will accommodate future needs adequately. This 10 feet would
be gradually acquired over time as properties redevelop. Most recently, 10 feet of additional
right of way was acquired as part of the Hoigaard Village redevelopment.
2. Continuation of the development of Streetscape enhancement plans for 36th Street as
described previously in this report. Plans will be developed with the Hoigaard Village re-
development utilized as a base template, both in terms of the type of amenities proposed, and
for establishing Right of Way limits, parking requirements, setbacks, and maintenance
requirements.
3. Working with existing property owners and developers (such as the VIP II site) to assure that
both public and private improvements will be performed in a manner that fits within the
future goals and requirements of the corridor.
Staff Questions/Discussion Items for Council
Staff has been evaluating all of the above items with regards to preparing for a future 36th Street
construction. Staff would appreciate any feedback from Council (including expectations, thoughts,
desires, level of importance, etc.) with regards to the following:
Meeting of March 24, 2008 (Item No. 3) Page 5
Subject: Project Update - W. 36th Street Streetscape - Project 2008-2600
1. Accommodation of future traffic
2. Accommodation of pedestrians (including the need for medians/crosswalks/gathering areas,
etc.)
3. Accommodations for bicycles (including the need for on-road bicycle lanes)
4. Visions for streetscape enhancements (i.e., minimal vs. extensive enhancements such as wide
vegetated medians, public spaces, etc.).
5. Any other issues or concerns that have not been mentioned.
FINANCIAL OR BUDGET CONSIDERATION:
The engineering and design costs associated with the streetscape project are not eligible under the
Livable Communities Grant (construction items eligible only). Therefore, professional services at
this time are being funded from HRA Levy Funds. One of the primary purposes of the HRA levy is
to fund public improvements, especially transportation related improvements.
VISION CONSIDERATION:
The proposed project will consider the following facets of Vision St. Louis Park:
1. Arts and Culture: The project will consider and include a public art element through the
project development and public process. This will contribute to several Vision goals related
to Arts and Culture.
2. Environment: The project will consider the Vision goal of expanding and enhancing green
spaces and parks by incorporating design standards that increase green medians on roadways
and tree planting initiatives.
3. Sidewalks and Trails: The project will contribute to the Vision goal of creating a safe and
efficient bicycle and pedestrian grid.
4. Transportation: The project will incorporate many of the transportation related Vision
goals, including inter-connect of “urban villages”, consideration of transit needs and
connections, road safety, and enhancing aesthetics of key corridors.
Attachment: None - Exhibits to be presented at Study Session
Prepared By: Scott Brink, City Engineer
Reviewed By: Michael P. Rardin, Director of Public Works
Approved By: Tom Harmening, City Manager
Meeting Date: March 24, 2008
Agenda Item #: 4
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Requested Amendments to Hoigaard Village Redevelopment Contract.
RECOMMENDED ACTION:
Frank Dunbar wishes to discuss Union Land II’s request for an extension of the commencement and
completion dates for portions of the Hoigaard Village project as well as the Redeveloper’s request for
an additional $200,000 in tax increment to finance greater than anticipated environmental
remediation costs.
POLICY CONSIDERATION:
Does the EDA support Union Land II’s request for extensions of the commencement and
completion dates for Phase 1 Stage 2, Phase II Stage 1 and Phase II Stage 2 of the Hoigaard Village
project and Union Land II’s request for an additional $200,000 in tax increment?
BACKGROUND:
A written staff report was submitted for the February 11, 2008 Study Session (please see attached).
After a brief discussion that evening, the EDA indicated it would like to further discuss these
requests with the Redeveloper in Study Session.
Next Steps
If one or both of the developer’s requests are favorably received by the Council, staff will proceed
with the preparation of a Third Amendment to the Redevelopment Contract with Union Land II
and schedule it for the EDA’s formal consideration in the coming weeks.
FINANCIAL OR BUDGET CONSIDERATION:
The proposed extensions of three of the Hoigaard Village’s four stages reflect the current
construction schedule and market reality relating to condominium sales in the Twin Cities. The
Redeveloper has also requested an additional $200,000 in tax increment financing.
VISION CONSIDERATION:
Not applicable
Attachments: Staff report of February 11, 2008
Prepared by: Greg Hunt, Economic Development Coordinator
Reviewed by: Kevin Locke, Community Development Director
Approved by: Tom Harmening, EDA Executive Director and City Manager
Meeting of March 24, 2008 (Item No. 4) Page 2
Subject: Requested Amendments to Hoigaard Village Redevelopment Contract
Meeting Date: February 11, 2008
Agenda Item #: 8
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Requested Amendments to Hoigaard Village Redevelopment Contract.
RECOMMENDED ACTION:
Staff wishes to apprise the EDA of Union Land II’s request for an extension of the commencement
and completion dates for portions of the Hoigaard Village project as well as the Redeveloper’s
request for an additional $200,000 in tax increment to finance greater than anticipated
environmental remediation costs.
POLICY CONSIDERATION:
Does the EDA support Union Land II’s request for extensions of the commencement and
completion dates for Phase 1 Stage 2, Phase II Stage 1 and Phase II Stage 2 of the Hoigaard Village
project and its request for an additional $200,000 in tax increment?
BACKGROUND:
On February 21, 2006, a Redevelopment Contract with Union Land II LLC (the Redeveloper) was
approved in which the Redeveloper committed to acquire 6 parcels (generally at the northwest
corner of 36th Street and Highway 100), consisting of a combined 9.6 acres, remove the existing
structures, remediate the contaminated soils, and prepare the area for redevelopment. In their place,
the developer agreed to construct a two-phase, four-stage, mixed use redevelopment called
“Hoigaard Village”.
Phase I was to include two stages and was to be constructed along the north side of 36th Street
between Xenwood and Webster Avenues. Stage 1 will entail a five story, vertical mixed use building
(“Harmony Vista”) that faces 36th Street. The building would have approximately 25,000 square
feet of commercial space on the ground floor and a total of 74 condominium units on the upper four
floors.
Stage 2, to be built directly behind the mixed use building on the same block but along the south
side of 35th Street, was to include a 58 unit condominium building (“The Adagio”) with below
ground parking.
Meeting of March 24, 2008 (Item No. 4) Page 3
Subject: Requested Amendments to Hoigaard Village Redevelopment Contract
Phase II also included two stages and was to be constructed on the properties formerly owned and
occupied by Hoigaards. Stage 3, built along the north side of 35th Street between Xenwood and
Webster Avenues, was to include 22 rowhouses (“Medley Row”) with below ground parking.
Stage 4, to be built where the former Hoigaards store was formerly located, will include a 220-unit,
luxury apartment building to be called “The Camerata”.
Also incorporated into Phase II was a regional stormwater pond that would serve the northern
portion of the Elmwood neighborhood.
Upon completion, Hoigaard Village will have a total of 274 housing units (132 condominium units,
22 townhouse units, and 220 apartment units) and 25,000 square feet of commercial space.
To facilitate the project the EDA agreed to provide up to $5 million in Tax Increment Financing to
reimburse the Redeveloper for certain “Public Redevelopment Costs” incurred in connection with the
redevelopment of the site.
On July 10, 2006, a First Amendment to the Development Contract with Union Land II LLC was
approved which made five clarifications to the original Contract.
On March 5, 2007, a Second Amendment was approved which revised the commencement dates for
three of the project’s four Stages. However, due to a more aggressive construction schedule, the final
completion date for the entire project was moved forward four months from December 31, 2008 to
August 30, 2008.
To date, Union Land II has completed all demolition, underground utility work, and environmental
cleanup on the site. According to the Redeveloper, “a substantial portion of the pond has been
constructed and is operational. A portion of the roadways repair and upgrade is complete and a
portion of the new lighting and streetscape is complete.” In addition, Phase I/Stage 1 (the 74 unit
mixed use building called “Harmony Vista”) is scheduled for completion this month. All of these
improvements are consistent with the Redevelopment Contract as amended.
Requested Extensions of Project Commencement and Completion Dates
Union Land II has requested minor schedule adjustments for Phase II of the Hoigaard Village
project. “The Camerata Apartments” are currently under construction and are scheduled for
completion September 1, 2008. Construction of the 22 rowhouses (“Medley Row”) is just
beginning and will likely be completed by the end of the year. The Contract as amended required
these stages to be completed in August and July respectively. Union Land II has therefore requested
a Third Amendment to the Contract reflecting the anticipated completion dates.
Union Land II LLC has also requested an extension of the commencement and completion dates for
Phase 1 Stage 2 (the 58 unit condominium building called “The Adagio”) of the Hoigaard Village
project due to slow economic conditions within the condominium market. According to the Second
Amendment to the Redevelopment Contract this stage was to have commenced July 1, 2007 and be
Meeting of March 24, 2008 (Item No. 4) Page 4
Subject: Requested Amendments to Hoigaard Village Redevelopment Contract
completed by July 31, 2008. Union Land II maintains it will be unable to construct the condo
building until current market conditions become more favorable. Therefore, Union Land II has
requested its required commencement date for “The Adagio” be extended from July 1, 2007 until
April 1, 2009 and that its required completion date be extended from July 31, 2008 until April 1,
2010. The proposed revised construction schedule is summarized as follows:
REVISED CONSTRUCTION SCHEDULE
Phase/Stage
Commencement
(Per 2nd Amend.)
Revised
Commencement
(Proposed)
Completion
(Per 2nd
Amend.)
Revised
Completion
(Proposed)
Phase I/Stage 1
Harmony Vista
June 1, 2006
June 1, 2006
(No Change)
Feb 28, 2008
Feb 28, 2008
(No Change)
Phase I/Stage 2
The Adagio
July 1, 2007
April 1, 2009
July 31, 2008
April 1, 2010
Phase II/Stage 3
Medley Row
July 1, 2007
July 1, 2007
(No Change)
July 31, 2008
Dec 31, 2008
Phase II/Stage 4
The Camerata
July 1, 2007
July 1, 2007
(No Change)
Aug 30, 2008
Sept 1, 2008
The revised construction schedule would likely extend the term of the Elmwood TIF District by
approximately one half year from 15 years to 15½ years.
Requested Additional Financial Assistance
Union Land II has also requested $200,000 in additional tax increment to fund greater-than-
anticipated environmental expenses it incurred related to soil conditions on the former
Hoigaard/city incinerator property. To date, Union Land has submitted invoices to the EDA
totaling approximately $1,121,000 for soil correction costs associated with the removal of ash
material related to the former municipal incinerator that previously operated on the site. This was
$699,803 more than was budgeted. Based on Phase I & II environmental studies, Union Land II
was aware of the former incinerator operation and that ash material was present on the property
prior to purchasing it. With this knowledge the Redeveloper understands it took some risk in
acquiring the property however, the Phase II study wasn’t able to detect the full extent of the
impacted soils given the presence of the Hoigaard store and its parking lots. Once these structures
were removed and site preparation commenced the full extent of the environmental impact was
revealed. For this reason, Union Land II is requesting to be reimbursed an additional $200,000
which is less than half the amount it is over budget. The EDA’s legal counsel has indicated the EDA
has no legal obligation to provide the Redeveloper with additional compensation beyond what it has
committed in the Contract. Under that Contract, the EDA agreed to provide Union Land II up to
$5 million in tax increment to address such redevelopment costs as: building demolition, soil
remediation, earthwork, replacement utilities, public infrastructure, and a sub-regional stormwater
pond. The additional $200,000 would bring Union Land II total financial assistance to $5,200,000.
According to Ehlers & Associates providing the Redeveloper with the additional requested assistance
(and taking into account the revised project completion dates) would extend the term of the TIF
Meeting of March 24, 2008 (Item No. 4) Page 5
Subject: Requested Amendments to Hoigaard Village Redevelopment Contract
district approximately one half year from 15½ years to 16 years which is the maximum term of the
district. The question for the EDA is, given the circumstances described above; does it wish to
reimburse the Redeveloper for a portion of the amount it is over budget?
Next Steps
Staff maintains that the Redeveloper’s request to amend the proposed commencement and
completion dates within the Contract is reasonable. Unless staff hears otherwise from the EDA, it
will proceed with the preparation of a Third Amendment to the Contract and schedule it for formal
consideration.
As for the Redeveloper’s request for additional financial assistance, staff would like to hear from the
EDA as to whether it would like to discuss this matter with the Redeveloper in Study Session.
FINANCIAL OR BUDGET CONSIDERATION:
The proposed extensions of three of the Hoigaard Village’s four stages reflect the current
construction schedule and market reality relating to condominium sales in the Twin Cities. The
Redeveloper has also requested an additional $200,000 in tax increment financing.
VISION CONSIDERATION:
Not applicable
Prepared by: Greg Hunt, Economic Development Coordinator
Reviewed by: Kevin Locke, Community Development Director
Approved by: Tom Harmening, EDA Executive Director and City Manager
Meeting Date: March 24, 2008
Agenda Item #: 5
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Parks & Recreation Advisory Commission 2007 Annual Report and 2008 Work Plan (Review).
RECOMMENDED ACTION:
This report summarizes work performed by the Parks and Recreation Advisory Commission
(“PRAC”) in 2007 and outlines the intentions of PRAC for work to be performed in 2008. PRAC
requests feedback and guidance from Council regarding both reports.
POLICY CONSIDERATION:
Is the City Council comfortable with PRAC’s work plan for 2008?
BACKGROUND:
In accordance with Council policy, the 2007 Annual Report and 2008 Work Plan are submitted for
Council review at the March 24 study session. Members of PRAC will then meet with Council at
the April 14 study session for discussion and guidance.
FINANCIAL OR BUDGET CONSIDERATION:
Not applicable.
VISION CONSIDERATION:
The 2008 PRAC Work Plan contemplates participation in several focus areas of the Vision Process.
Attachments: Parks and Recreation Advisory Commission 2007 Annual Report
Parks and Recreation Advisory Commission 2008 Work Plan
Prepared by: Stacy M. Voelker, Administrative Secretary
Reviewed by: Cindy Walsh, Director of Parks and Recreation
Approved by: Tom Harmening, City Manager
Meeting of March 24, 2008 (Item No. 5) Page 2
Subject: Parks & Recreation Advisory Commission 2007 Annual Report 2008 Goals (Review)
Parks and Recreation Advisory Commission (“PRAC”)
2007 Annual Report
The Parks and Recreation Advisory Commission Purpose:
This Commission shall study and consider all phases of public parks and recreation and
recommend to the City of St. Louis Park and Independent School District #283 a park and public
recreation program which best meets the needs of all residents of St. Louis Park.
2007 Parks and Recreation Advisory Commission
George Foulkes, Chair
Steve Hallfin, Vice Chair
R. Bruce Cornwall
J. Ryan Currens, School Board Representative
George Hagemann
Kirk Hawkinson
Tom Worthington
Lauren Webb-Hazlett, Student Representative
Parks and Recreation Department Staff
Cindy Walsh, Director
Rick Beane, Park Superintendent
Rick Birno, Recreation Superintendent
Mark Oestreich, Westwood Hills Nature Center Manager
Craig Panning, Manager of Buildings and Structures
Jim Vaughan, Environmental Coordinator
Stacy Voelker, Administrative Secretary
2007 Highlights
The following are highlights of the 2007 work performed by PRAC:
City Vision
Commission members served on the Sidewalks and Trails; Gathering Places; and Arts and
Culture Vision Action Teams. All members reviewed recommendations and assisted when
needed.
Events
Arbor day/Earth day held Saturday, April 21.
5k Run held May 6. The event was held Sunday, May 6. Members volunteered and
participated in the event which raised money for the scholarship fund.
Meeting of March 24, 2008 (Item No. 5) Page 3
Subject: Parks & Recreation Advisory Commission 2007 Annual Report 2008 Goals (Review)
Neighborhood Groups
Improved ties with neighborhood groups by attending park and playground redevelopment
meetings.
Recreation Resources
Discussed “on-call recreation” resources including staff and fees (i.e. renting canoes).
Staff Appreciation Breakfast/Luncheon
Hosted an annual appreciation luncheon for the Parks and Recreation staff. The luncheon was
held Tuesday, October 9 in the Oak Hill Park Main Shelter.
Youth Sports Association Relationship
The Commission invited an association to each of their monthly meetings to discuss the
association’s enrollment, fees, board structure, and inquiring on facility suggestions.
Associations attending in 2007 were:
CIP Projects
Members reviewed and discussed Capital improvement Projects accomplished in 2007 which
included Ainsworth Park Sun Shelter; Aquila Park Field Two Fence; Cedar Knoll
Park/Carlson Field Fence replacement; Junior High School Field Improvements; Lamplighter
Park Trail; Louisiana Oaks Park Storage Building; Minikahda Vista Park Irrigation update;
the addition of playground equipment at Oregon Park; playground equipment replacement at
Bronx, Cedarhurst, Fern Hill, Knollwood Green and Sunset Parks; Aquatic Park equipment
repainted; retubing of the boiler in The Rec Center; repair and sealcoat The Rec Center
parking lot; trail reconstruction at Carpenter, Franklin and Walker Parks; overlay the parking
lot and entrance trail at Westwood Hills Nature Center; and replaced the split rail fence at
Westwood Hills Nature Center.
Meeting of March 24, 2008 (Item No. 5) Page 4
Subject: Parks & Recreation Advisory Commission 2007 Annual Report 2008 Goals (Review)
2008 Parks and Recreation Advisory Commission
Steve Hallfin, Chair
Kirk Hawkinson, Vice Chair
R. Bruce Cornwall
George Foulkes
George Hagemann
Tom Worthington
Lauren Webb-Hazlett, Student Representative
Vacant, School Board Representative
2008 Goals
¾ Athletic Association Relationships: Invite each association to their monthly meetings to
continue a positive relationship.
¾ City Vision: Participate and keep updated on Vision to meet the goals.
¾ Commissions: Meet with other commissions as appropriate.
¾ Community Activities for Adults: Work with staff on offering activities for adults of all
ages.
¾ Events:
• 5K run: Members will work with staff to volunteer and assist with marketing of the event
in May.
• Movie: “Splash in Movie at the Pool” will be offered at the Aquatic Park on Friday,
August 15.
¾ Minnehaha Creek Clean-Up: The members will organize a clean up of the creek and creek
shores.
¾ Planning Initiatives: Commission members will actively participate in the Active Community
Planning Initiative for trails and sidewalks and discussions regarding the comprehension
plan.
¾ Recreation Resources: Commission will invite the Council to participate in a joint tour of
Minnehaha Creek in canoes. If interest from residents arises, canoe rental may be discussed
in the future.
¾ Staff Appreciation Luncheon: Members will hold an appreciation luncheon for staff.
2008 Parks and Recreation Advisory
Commission Work Plan
Meeting Date: March 24, 2008
Agenda Item #: 6
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Board of Zoning Appeals (BOZA) 2007 Annual Report.
RECOMMENDED ACTION:
The annual report summarizes the number and type of variance applications received in 2007. It also
compares the activities of 2007 to 2006. The annual report is attached for your review. The BOZA
and planning staff request feedback and guidance from Council regarding the report.
POLICY CONSIDERATION:
Does the Council feel comfortable with the actions taken by BOZA in 2007?
BACKGROUND:
In accordance with Council policy, the 2007 Annual Report is attached in full for City Council review
at the March 24th study session. Members of BOZA are planning to meet with Council at the April
28th study session for discussion and guidance.
The report shows a decline in the number of variance applications made to the city from 24
applications in 2006 to six in 2007. Although the report doesn’t show prior years, staff did look at
2004 and 2005 to get a better idea of how many variances the city processes per year. In 2004 the city
received 10 applications and in 2005 the city received nine. It appears that 2006, with 24 variances,
seems to be unusually high. There were several zoning amendments made in March of 2006 that
relaxed the setback and open space requirements. These amendments were made prior to receiving
the majority of the variance requests, and most likely reduced the number of variances that would
have been received in 2006 from a number higher than the 24 we received. It appears that 2006 is
simply an anomaly that saw an unusual amount of variances. Staff will continue to monitor the type
and number of variances received each year to look for patterns or certain zoning regulations that may
need to be reviewed
FINANCIAL OR BUDGET CONSIDERATION:
None.
VISION CONSIDERATION:
None.
Attachments: 2007 BOZA Annual Report
Prepared by: Gary Morrison, Assistant Zoning Administrator
Reviewed by: Meg McMonigal, Planning &Zoning Supervisor
Approved by: Tom Harmening, City Manager
Meeting of March 24, 2008 (Item No. 6) Page 2
Subject: BOZA Annual Report
2007 St. Louis Park Board of Zoning Appeals Commission
James Gainsley, Chair
Paul Roberts, Vice-Chair
Susan Bloyer, Board Member
Ryan Burt, Board Member
Henry Solmer, Board Member
St. Louis Park
Board of Zoning Appeals
2007 Annual Report
Meeting of March 24, 2008 (Item No. 6) Page 3
Subject: BOZA Annual Report
In 2007, the Board of Zoning Appeals (BOZA) heard four variance applications.
Two applications involved two variances each, resulting in a total of six variances requested in 2007.
The BOZA approved all six variances, and no decisions were appealed to the City Council.
The following is a summary of the types of variances applied for in 2007 as compared to 2006.
VARIANCE APPLICATIONS RECEIVED 2006 2007
RESIDENTIAL
Setbacks Attached Garages:
side setback: 2 0
rear setback: 2 0
side yard abutting the street
setback: 1 0
Living Space:
front setback: 1 0
side setback: 2 1
Covered Porch:
front setback: 1 0
Eave (side setback): 2 3
Deck:
side setback: 0 1
Open Lot Area (1) Living Space: 1 0
Attached Garage: 1 0
No Build Area (2) Attached Garage 3 0
Gravel Driveway 1
Total Residential Variances: 17 5
COMMERCIAL
rear setback: 1 0
front setback: 0 1
side yard abutting the street: 1 0
Floor Area Ratio: 1 0
Parking Spaces: 1 0
Restaurant to Residential
setback: 2 0
Bufferyard: 1 0
Total Commercial
Variances: 7 1
Total Variances: 24 6
(1) A 20 foot by 20 foot or 20 foot by 30 foot open area in the back yard. This
requirement was removed in 2006.
(2) Open area required when a back yard is adjacent to a neighbor's front yard.
Meeting of March 24, 2008 (Item No. 6) Page 4
Subject: BOZA Annual Report
Tom & Andrea Snook 3725 Huntington Avenue S.
BOZA Date: May 24, 2007
BOZA Action: Approved a variance to allow a garage and
living space addition to the house with a 1.5 foot setback for
the eave and 1.5 foot setback for the garage.
Before Photograph:
After Photograph:
Meeting of March 24, 2008 (Item No. 6) Page 5
Subject: BOZA Annual Report
Jill & Yarden Wolfe 2901 Natchez Avenue S.
BOZA Date: August 23, 2007
BOZA Action: Approved a 2.0 foot variance to the
required 2.0 foot side yard setback resulting in a 0.0 foot
side yard setback for the construction of a 5.1 foot by 12
foot deck on the north side of the house.
.
Before Photograph
After Photograph
Proposed Deck
Meeting of March 24, 2008 (Item No. 6) Page 6
Subject: BOZA Annual Report
Craig & Jennifer Erdman 2837 Georgia Avenue
S.
BOZA Date: October 2,
2007
BOZA Action: Approved a 0.2 foot variance to
the north property line and a one foot variance
to the south property line for eaves instead of
the required four feet.
Before Photograph
After Photograph
Meeting of March 24, 2008 (Item No. 6) Page 7
Subject: BOZA Annual Report
Batteries Plus/William Criego 5717 Excelsior Blvd
BOZA Date: October 2,
2007
BOZA Action: Approved a 5.0 foot variance to
the front yard for the construction of a sign.
As of the date of this report, the sign has not been
installed.
Before Photograph
Proposed sign
Meeting Date: March 24, 2008
Agenda Item #: 7
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Communications (verbal).
RECOMMENDED ACTION:
Not Applicable.
POLICY CONSIDERATION:
Not Applicable.
BACKGROUND:
At every Study Session, verbal communications will take place between staff and Council for the
purpose of information sharing.
FINANCIAL OR BUDGET CONSIDERATION:
Not Applicable.
VISION CONSIDERATION:
Not Applicable.
Attachments: None
Prepared and Approved by: Tom Harmening, City Manager
Meeting Date: March 24, 2008
Agenda Item #: 8
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
February 2008 Monthly Financial Report.
RECOMMENDED ACTION:
No action required at this time. This is a written report for information sharing purposes.
POLICY CONSIDERATION:
None.
BACKGROUND:
In an effort to provide more useful information in a format like the budget document, Finance has
updated our monthly report format. Please review the attached documents and provide us with
feedback on how well the new format meets the City Council’s information requirements.
This report is designed to provide summary information regarding the overall level of revenues and
expenditures in both the General Fund and the Park and Recreation Fund along with department
level reports. These funds are the primary concern in analyzing the City’s financial health because
they represent most of the discretionary use of tax levy dollars.
For the month of February in the fiscal year, actual revenues and expenditures should generally run
about 16.6% of the annual budget. Currently, the General Fund has expenditures totaling 15.8%
and the Park and Recreation Fund expenditures are at 17.7%. Significant variances exceeding
budget are highlighted below accompanied with a general discussion for the variance.
General Fund
Expenditures:
• Administration, Finance and Community Development expenditures appear to slightly
exceed budget because all three departments have significant portions of staff time that must
be allocated to different departments through a journal entry, which has not been done for
2008. This is anticipated to be completed before the March report is submitted to the City
Council.
• Human Resources and Community Outreach – Police both appear to be over budget as a
result of the annual payments made to I.S.D. #283 for the Volunteer Coordinator and for
mediation services in the amount of $34,400 and $4,300 respectively. It is easier to make
these payments annually, as long as all interested parties know the budgetary result will be
higher expenditures early in the year.
Meeting of March 24, 2008 (Item No. 8) Page 2
Subject: February 2008 Monthly Financial Report
Parks and Recreation
Expenditures:
• Organized Recreation appears to be over budget as a result of the annual payments to I.S.D.
#283 for community education in the amount of $187,400.
• The Environment division actual expenditures also appear to exceed budget due to the
annual boulevard tree pruning that occurs during the dormant season. These costs all occur
in January through March per the contract.
• Vehicle Maintenance is exceeding budget by approximately 2.4% or $24,000 as a result of
several factors: First, motor fuels are exceeding budget due to unprecedented costs. Next
lubricants/additives are exceeding budget, but this is in an effort to save on fuel costs for the
remainder of 2008 and beyond by running cleaner and subsequently more feul efficient
vehicles. Finally, an unexpexcted transmission replacement was needed on a fire vehicle
which cost $8,731.
FINANCIAL OR BUDGET CONSIDERATION:
None required at this time.
VISION CONSIDERATION:
Not applicable.
Attachments: Monthly Financial Reports
Prepared by: Brian A. Swanson, Assistant Finance Director
Reviewed by: Bruce DeJong, Finance Director
Approved by: Tom Harmening, City Manager
3/18/2008CITY OF ST LOUIS PARK 16:10:18R5509FIN1 LOGIS001
1Monthly Financial Report Page -By Co (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
01000 GENERAL FUND
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 14,107,179.00-14,107,179.00-|13,170,348.00-
4100 LICENSES & PERMITS 2,712,715.00- 201,389.26- 541,925.82- 2,170,789.18- 19.98 |2,636,500.00-759,962.04- 28.82
4270 FINES & FORFEITS 311,000.00- 34,576.14- 57,717.18- 253,282.82- 18.56 |309,600.00-23,554.67- 7.61
4300 INTERGOVERNMENTAL 1,709,365.00- 31,945.37- 90,504.32- 1,618,860.68-5.29 |1,628,804.15-339,294.31- 20.83
4600 CHARGES FOR SERVICES 1,084,975.00- 45,786.57- 49,512.57- 1,035,462.43-4.56 |1,045,828.63-60,762.58- 5.81
5200 MISCELLANEOUS 100,000.00-1,773.54- 4,708.59- 95,291.41-4.71 |111,400.00-18,383.34- 16.50
4001 REVENUES 20,025,234.00-315,470.88-744,368.48-19,280,865.52-3.72 |18,902,480.78-1,201,956.94-6.36
6001 EXPENDITURES
6002 PERSONAL SERVICES 17,638,555.00 1,370,882.48 2,973,476.75 14,665,078.25 16.86 |16,858,062.07 2,700,124.41 16.02
6210 SUPPLIES 758,098.00 93,863.46 156,393.75 601,704.25 20.63 |686,448.00 78,205.40 11.39
6300 NON-CAPITAL EQUIPMENT 71,350.00 4,328.38 5,237.45 66,112.55 7.34 |63,950.00 5,961.34 9.32
6350 SERVICES & OTHER CHARGES 4,258,872.00 380,188.59 451,394.23 3,807,477.77 10.60 |4,077,004.00 564,716.55 13.85
6001 EXPENDITURES 22,726,875.00 1,849,262.91 3,586,502.18 19,140,372.82 15.78 |21,685,464.07 3,349,007.70 15.44
8001 OTHER INCOME
8010 TRANSFERS IN 2,555,694.00-2,555,694.00-|2,654,836.00-442,472.68- 16.67
8070 OTHER RECOVERIES 2,000.00-64.73-114.73-1,885.27-5.74 |2,000.00-1,235.66- 61.78
8100 INTEREST 325,000.00-325,000.00-|301,099.00-61,190.26 20.32-
8170 ADMINISTRATION FEES 100.00-125.00-125.00 |6,000.00-1,300.00- 21.67
8200 MISC REVENUE 110.00-110.00-110.00 |5.00-
8001 OTHER INCOME 2,882,694.00-274.73-349.73-2,882,344.27-.01 |2,963,935.00-383,823.08-12.95
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES .55 .55 .55-|
8580 MISC EXPENSE 180,650.00 1.08 180,648.92 0.00 |180,650.00 4,885.31 2.70
8590 BANK CHARGES/CREDIT CD FEES 400.00 25.76 25.76 374.24 6.44 |300.00 2,817.03 939.01
8501 OTHER EXPENSE 181,050.00 26.31 27.39 181,022.61 .02 |180,950.00 7,702.34 4.26
4000 REVENUES & EXPENSES 3.00-1,533,543.61 2,841,811.36 2,841,814.36-**********|1.71-1,770,930.02 **********
01000 GENERAL FUND 3.00-1,533,543.61 2,841,811.36 2,841,814.36-**********|1.71-1,770,930.02 **********
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 3
3/18/2008CITY OF ST LOUIS PARK 16:10:18R5509FIN1 LOGIS001
2Monthly Financial Report Page -By Co (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
02000 PARK AND RECREATION
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 3,750,197.00-3,750,197.00-|3,540,854.00-
4100 LICENSES & PERMITS 575.00- 1,400.00-1,400.00 |1,475.00-
4300 INTERGOVERNMENTAL 56,402.00-56,402.00-|56,402.00-
4600 CHARGES FOR SERVICES 1,058,170.00- 74,038.29- 110,486.04- 947,683.96- 10.44 |1,077,220.00-150,229.62- 13.95
5200 MISCELLANEOUS 823,061.00- 58,721.02- 6,186.24 829,247.24-.75- |809,061.00-79,154.68- 9.78
4001 REVENUES 5,687,830.00-133,334.31-105,699.80-5,582,130.20-1.86 |5,483,537.00-230,859.30-4.21
6001 EXPENDITURES
6002 PERSONAL SERVICES 3,403,854.00 232,811.75 525,374.37 2,878,479.63 15.43 |3,286,328.13 498,545.16 15.17
6210 SUPPLIES 795,292.00 96,259.72 119,989.74 675,302.26 15.09 |768,832.00 87,534.82 11.39
6300 NON-CAPITAL EQUIPMENT 4,500.00 508.80 3,991.20 11.31 |4,500.00 6,991.73 155.37
6350 SERVICES & OTHER CHARGES 1,543,904.00 343,708.83 373,225.72 1,170,678.28 24.17 |1,520,731.00 218,256.86 14.35
7800 CAPITAL OUTLAY 19,000.00 19,000.00 |19,000.00
6001 EXPENDITURES 5,766,550.00 672,780.30 1,019,098.63 4,747,451.37 17.67 |5,599,391.13 811,328.57 14.49
8001 OTHER INCOME
8010 TRANSFERS IN 75,000.00-75,000.00-|100,000.00-
8100 INTEREST 1,600.00-1,600.00-|8,000.00-
8130 CONTRIBUTIONS/DONATIONS 11,100.00-100.00- 11,000.00-.90 |16,600.00-
8001 OTHER INCOME 87,700.00-100.00-87,600.00-.11 |124,600.00-
8501 OTHER EXPENSE
8510 TRANSFERS OUT 8,981.00 8,981.00 |8,745.73 1,457.66 16.67
8590 BANK CHARGES/CREDIT CD FEES 67.03 67.03 67.03-|1,382.38
8501 OTHER EXPENSE 8,981.00 67.03 67.03 8,913.97 .75 |8,745.73 2,840.04 32.47
4000 REVENUES & EXPENSES 1.00 539,513.02 913,365.86 913,364.86-*********|.14-583,309.31 **********
02000 PARK AND RECREATION 1.00 539,513.02 913,365.86 913,364.86-*********|.14-583,309.31 **********
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 4
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
2Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
100 GENERAL
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 14,107,179.00-14,107,179.00-|13,170,348.00-
4300 INTERGOVERNMENTAL 45,205.00-45,205.00-|45,205.00-
4600 CHARGES FOR SERVICES 55.00-80.00-80.00 |41.32-
5200 MISCELLANEOUS 85,000.00-85,000.00-|85,000.00-14,166.66- 16.67
4001 REVENUES 14,237,384.00-55.00-80.00-14,237,304.00-0.00 |13,300,553.00-14,207.98-.11
6001 EXPENDITURES
8001 OTHER INCOME
8010 TRANSFERS IN 2,471,711.00-2,471,711.00-|2,571,039.00-442,472.68- 17.21
8100 INTEREST 325,000.00-325,000.00-|292,599.00-61,270.93 20.94-
8001 OTHER INCOME 2,796,711.00-2,796,711.00-|2,863,638.00-381,201.75-13.31
8501 OTHER EXPENSE
8580 MISC EXPENSE 180,000.00 180,000.00 |180,000.00 4,789.04 2.66
8501 OTHER EXPENSE 180,000.00 180,000.00 |180,000.00 4,789.04 2.66
4000 REVENUES & EXPENSES 16,854,095.00-55.00-80.00-16,854,015.00-0.00 |15,984,191.00-390,620.69-2.44
100 GENERAL 16,854,095.00-55.00-80.00-16,854,015.00-0.00 |15,984,191.00-390,620.69-2.44
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 5
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
4Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
110 ADMINISTRATION
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 178,000.00-2,850.00- 171,350.00-6,650.00- 96.26 |174,000.00-167,500.00- 96.26
4270 FINES & FORFEITS 8,000.00-8,000.00-|3,000.00-
4300 INTERGOVERNMENTAL |14,500.00-
4001 REVENUES 186,000.00-2,850.00-171,350.00-14,650.00-92.12 |191,500.00-167,500.00-87.47
6001 EXPENDITURES
6002 PERSONAL SERVICES 511,250.00 46,517.94 98,580.14 412,669.86 19.28 |507,731.60 79,799.54 15.72
6210 SUPPLIES 4,350.00 115.06 115.06 4,234.94 2.65 |3,950.00 261.95 6.63
6350 SERVICES & OTHER CHARGES 518,727.00 58,702.07 78,370.84 440,356.16 15.11 |471,249.00 71,132.24 15.09
6001 EXPENDITURES 1,034,327.00 105,335.07 177,066.04 857,260.96 17.12 |982,930.60 151,193.73 15.38
8001 OTHER INCOME
8200 MISC REVENUE 30.00-30.00-30.00 |
8001 OTHER INCOME 30.00-30.00-30.00 |
8501 OTHER EXPENSE
8550 INTEREST/FINANCE CHARGES .55 .55 .55-|
8501 OTHER EXPENSE .55 .55 .55-|
4000 REVENUES & EXPENSES 848,327.00 102,455.62 5,686.59 842,640.41 .67 |791,430.60 16,306.27-2.06-
110 ADMINISTRATION 848,327.00 102,455.62 5,686.59 842,640.41 .67 |791,430.60 16,306.27-2.06-
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 6
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
6Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
120 FINANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 50,000.00-3,909.25- 3,909.25- 46,090.75-7.82 |47,000.00-3,795.42- 8.08
4001 REVENUES 50,000.00-3,909.25-3,909.25-46,090.75-7.82 |47,000.00-3,795.42-8.08
6001 EXPENDITURES
6002 PERSONAL SERVICES 951,407.00 84,221.81 182,068.29 769,338.71 19.14 |898,670.00 147,511.26 16.41
6210 SUPPLIES 4,000.00 665.84 920.97 3,079.03 23.02 |3,600.00 533.45 14.82
6350 SERVICES & OTHER CHARGES 167,356.00 519.99 10,058.86 157,297.14 6.01 |150,762.00 19,318.09 12.81
6001 EXPENDITURES 1,122,763.00 85,407.64 193,048.12 929,714.88 17.19 |1,053,032.00 167,362.80 15.89
8001 OTHER INCOME
8170 ADMINISTRATION FEES 100.00-125.00-125.00 |6,000.00-1,300.00- 21.67
8001 OTHER INCOME 100.00-125.00-125.00 |6,000.00-1,300.00-21.67
8501 OTHER EXPENSE
8580 MISC EXPENSE 150.00 1.08 148.92 .72 |150.00 4.24 2.83
8590 BANK CHARGES/CREDIT CD FEES 300.00 300.00 |300.00
8501 OTHER EXPENSE 450.00 1.08 448.92 .24 |450.00 4.24 .94
4000 REVENUES & EXPENSES 1,073,213.00 81,398.39 189,014.95 884,198.05 17.61 |1,000,482.00 162,271.62 16.22
120 FINANCE 1,073,213.00 81,398.39 189,014.95 884,198.05 17.61 |1,000,482.00 162,271.62 16.22
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 7
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
8Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
130 HUMAN RESOURCES
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 9,000.00-1,338.00- 1,338.00-7,662.00- 14.87 |9,000.00-2,024.00- 22.49
4001 REVENUES 9,000.00-1,338.00-1,338.00-7,662.00-14.87 |9,000.00-2,024.00-22.49
6001 EXPENDITURES
6002 PERSONAL SERVICES 459,624.00 35,384.06 76,782.90 382,841.10 16.71 |433,712.46 73,752.10 17.00
6210 SUPPLIES 2,000.00 127.68 192.49 1,807.51 9.62 |2,000.00 339.86 16.99
6350 SERVICES & OTHER CHARGES 168,050.00 44,356.35 46,902.86 121,147.14 27.91 |132,660.00 17,917.93 13.51
6001 EXPENDITURES 629,674.00 79,868.09 123,878.25 505,795.75 19.67 |568,372.46 92,009.89 16.19
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 620,674.00 78,530.09 122,540.25 498,133.75 19.74 |559,372.46 89,985.89 16.09
130 HUMAN RESOURCES 620,674.00 78,530.09 122,540.25 498,133.75 19.74 |559,372.46 89,985.89 16.09
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 8
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
9Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
135 COMMUNITY DEVELOPMENT
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 12,000.00-1,410.00- 2,020.00-9,980.00- 16.83 |12,000.00-1,080.00- 9.00
4600 CHARGES FOR SERVICES 572,675.00- 35,798.57- 37,418.57- 535,256.43-6.53 |553,028.63-47,887.75- 8.66
4001 REVENUES 584,675.00-37,208.57-39,438.57-545,236.43-6.75 |565,028.63-48,967.75-8.67
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,019,147.00 106,211.75 223,958.94 795,188.06 21.98 |968,204.14 161,614.07 16.69
6210 SUPPLIES 3,000.00 96.51 150.13 2,849.87 5.00 |3,000.00 123.87 4.13
6300 NON-CAPITAL EQUIPMENT 1,000.00 1,000.00 |1,000.00
6350 SERVICES & OTHER CHARGES 57,750.00 1,664.01 1,664.01 56,085.99 2.88 |52,750.00 1,545.10 2.93
6001 EXPENDITURES 1,080,897.00 107,972.27 225,773.08 855,123.92 20.89 |1,024,954.14 163,283.04 15.93
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 496,222.00 70,763.70 186,334.51 309,887.49 37.55 |459,925.51 114,315.29 24.86
135 COMMUNITY DEVELOPMENT 496,222.00 70,763.70 186,334.51 309,887.49 37.55 |459,925.51 114,315.29 24.86
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 9
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
10Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
140 FACILITIES MAINTENANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 8,200.00-8,200.00-|8,200.00-
5200 MISCELLANEOUS 15,000.00-1,250.00- 3,750.00- 11,250.00- 25.00 |16,400.00-4,216.68- 25.71
4001 REVENUES 23,200.00-1,250.00-3,750.00-19,450.00-16.16 |24,600.00-4,216.68-17.14
6001 EXPENDITURES
6002 PERSONAL SERVICES 510,784.00 36,682.90 79,136.27 431,647.73 15.49 |484,355.24 77,689.09 16.04
6210 SUPPLIES 109,500.00 8,713.18 12,044.26 97,455.74 11.00 |110,500.00 12,534.47 11.34
6300 NON-CAPITAL EQUIPMENT 31,000.00 439.60 439.60 30,560.40 1.42 |30,000.00 851.97 2.84
6350 SERVICES & OTHER CHARGES 536,642.00 70,779.12 72,798.02 463,843.98 13.57 |539,512.00 76,795.54 14.23
6001 EXPENDITURES 1,187,926.00 116,614.80 164,418.15 1,023,507.85 13.84 |1,164,367.24 167,871.07 14.42
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 1,164,726.00 115,364.80 160,668.15 1,004,057.85 13.79 |1,139,767.24 163,654.39 14.36
140 FACILITIES MAINTENANCE 1,164,726.00 115,364.80 160,668.15 1,004,057.85 13.79 |1,139,767.24 163,654.39 14.36
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 10
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
11Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
145 TECHNOLOGY & SUPPORT SERVICES
4000 REVENUES & EXPENSES
4001 REVENUES
6001 EXPENDITURES
6002 PERSONAL SERVICES 566,679.00 52,228.38 111,858.97 454,820.03 19.74 |613,992.71 91,211.65 14.86
6210 SUPPLIES 31,200.00 1,857.50 1,925.76 29,274.24 6.17 |29,400.00 3,214.85 10.93
6300 NON-CAPITAL EQUIPMENT 2,300.00 560.10 560.10 1,739.90 24.35 |300.00
6350 SERVICES & OTHER CHARGES 860,660.00 104,083.35 112,036.36 748,623.64 13.02 |846,483.00 119,415.17 14.11
6001 EXPENDITURES 1,460,839.00 158,729.33 226,381.19 1,234,457.81 15.50 |1,490,175.71 213,841.67 14.35
8001 OTHER INCOME
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 25.76 25.76 25.76-|
8501 OTHER EXPENSE 25.76 25.76 25.76-|
4000 REVENUES & EXPENSES 1,460,839.00 158,755.09 226,406.95 1,234,432.05 15.50 |1,490,175.71 213,841.67 14.35
145 TECHNOLOGY & SUPPORT SERVICES 1,460,839.00 158,755.09 226,406.95 1,234,432.05 15.50 |1,490,175.71 213,841.67 14.35
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 11
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
12Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
150 COMMUNICATIONS & MARKETING
4000 REVENUES & EXPENSES
4001 REVENUES
6001 EXPENDITURES
6002 PERSONAL SERVICES 173,932.00 5,688.71 12,892.77 161,039.23 7.41 |99,061.47 10,556.68 10.66
6210 SUPPLIES |93.16
6300 NON-CAPITAL EQUIPMENT |797.00
6350 SERVICES & OTHER CHARGES 113,850.00 25,427.81 29,327.81 84,522.19 25.76 |119,690.00 24,551.24 20.51
6001 EXPENDITURES 287,782.00 31,116.52 42,220.58 245,561.42 14.67 |218,751.47 35,998.08 16.46
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 287,782.00 31,116.52 42,220.58 245,561.42 14.67 |218,751.47 35,998.08 16.46
150 COMMUNICATIONS & MARKETING 287,782.00 31,116.52 42,220.58 245,561.42 14.67 |218,751.47 35,998.08 16.46
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 12
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
14Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
160 POLICE
4000 REVENUES & EXPENSES
4001 REVENUES
4270 FINES & FORFEITS 302,600.00- 34,328.14- 57,299.18- 245,300.82- 18.94 |306,600.00-23,694.67- 7.73
4300 INTERGOVERNMENTAL 882,160.00- 31,945.37- 90,504.32- 791,655.68- 10.26 |841,075.15-116,021.81- 13.79
4600 CHARGES FOR SERVICES 110,300.00-4,155.75- 5,989.75- 104,310.25-5.43 |119,300.00-21,106.00- 17.69
4001 REVENUES 1,295,060.00-70,429.26-153,793.25-1,141,266.75-11.88 |1,266,975.15-160,822.48-12.69
6001 EXPENDITURES
6002 PERSONAL SERVICES 6,185,321.00 469,729.89 1,026,793.26 5,158,527.74 16.60 |5,965,980.09 937,497.75 15.71
6210 SUPPLIES 155,300.00 5,046.73 6,364.17 148,935.83 4.10 |142,700.00 9,281.50 6.50
6300 NON-CAPITAL EQUIPMENT 33,550.00 3,328.68 4,237.75 29,312.25 12.63 |27,350.00 4,312.37 15.77
6350 SERVICES & OTHER CHARGES 552,343.00 25,734.75 41,308.48 511,034.52 7.48 |540,073.00 68,965.14 12.77
6001 EXPENDITURES 6,926,514.00 503,840.05 1,078,703.66 5,847,810.34 15.57 |6,676,103.09 1,020,056.76 15.28
8001 OTHER INCOME
8070 OTHER RECOVERIES 2,000.00-64.73-114.73-1,885.27-5.74 |2,000.00-1,235.66- 61.78
8100 INTEREST |8,500.00-80.67- .95
8001 OTHER INCOME 2,000.00-64.73-114.73-1,885.27-5.74 |10,500.00-1,316.33-12.54
8501 OTHER EXPENSE
8580 MISC EXPENSE 500.00 500.00 |500.00 92.03 18.41
8590 BANK CHARGES/CREDIT CD FEES 100.00 100.00 |33.82
8501 OTHER EXPENSE 600.00 600.00 |500.00 125.85 25.17
4000 REVENUES & EXPENSES 5,630,054.00 433,346.06 924,795.68 4,705,258.32 16.43 |5,399,127.94 858,043.80 15.89
160 POLICE 5,630,054.00 433,346.06 924,795.68 4,705,258.32 16.43 |5,399,127.94 858,043.80 15.89
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 13
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
15Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
161 COMMUNITY OUTREACH - POLICE
4000 REVENUES & EXPENSES
4001 REVENUES
6001 EXPENDITURES
6002 PERSONAL SERVICES 73,127.00 5,616.90 12,245.22 60,881.78 16.75 |71,292.35 11,433.83 16.04
6210 SUPPLIES 1,100.00 21.38 1,078.62 1.94 |1,100.00
6350 SERVICES & OTHER CHARGES 9,756.00 4,385.93 4,846.93 4,909.07 49.68 |44,005.00 768.92 1.75
6001 EXPENDITURES 83,983.00 10,002.83 17,113.53 66,869.47 20.38 |116,397.35 12,202.75 10.48
8001 OTHER INCOME
8010 TRANSFERS IN 83,983.00-83,983.00-|83,797.00-
8001 OTHER INCOME 83,983.00-83,983.00-|83,797.00-
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 10,002.83 17,113.53 17,113.53-|32,600.35 12,202.75 37.43
161 COMMUNITY OUTREACH - POLICE 10,002.83 17,113.53 17,113.53-|32,600.35 12,202.75 37.43
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 14
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
16Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
165 FIRE PROTECTION
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 55,000.00-1,112.71- 2,764.90- 52,235.10-5.03 |55,000.00-12,351.37- 22.46
4300 INTERGOVERNMENTAL 332,000.00-332,000.00-|298,024.00-
4600 CHARGES FOR SERVICES 4,000.00-250.00-385.00-3,615.00-9.63 |5,500.00-355.00- 6.45
4001 REVENUES 391,000.00-1,362.71-3,149.90-387,850.10-.81 |358,524.00-12,706.37-3.54
6001 EXPENDITURES
6002 PERSONAL SERVICES 2,712,378.00 194,541.94 425,803.42 2,286,574.58 15.70 |2,494,897.00 415,555.14 16.66
6210 SUPPLIES 93,648.00 41,105.49 41,306.74 52,341.26 44.11 |60,398.00 2,571.90 4.26
6300 NON-CAPITAL EQUIPMENT |1,700.00
6350 SERVICES & OTHER CHARGES 223,092.00 7,091.44 9,313.34 213,778.66 4.17 |199,527.00 42,371.29 21.24
6001 EXPENDITURES 3,029,118.00 242,738.87 476,423.50 2,552,694.50 15.73 |2,756,522.00 460,498.33 16.71
8001 OTHER INCOME
8200 MISC REVENUE |5.00-
8001 OTHER INCOME |5.00-
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 2,638,118.00 241,376.16 473,273.60 2,164,844.40 17.94 |2,397,998.00 447,786.96 18.67
165 FIRE PROTECTION 2,638,118.00 241,376.16 473,273.60 2,164,844.40 17.94 |2,397,998.00 447,786.96 18.67
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 15
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
17Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
170 INSPECTIONAL SERVICES
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 2,392,615.00- 189,216.55- 357,790.92- 2,034,824.08- 14.95 |2,347,200.00-575,730.67- 24.53
4600 CHARGES FOR SERVICES 800.00-280.00-392.00-408.00- 49.00 |800.00-15,846.91 1,980.86-
4001 REVENUES 2,393,415.00-189,496.55-358,182.92-2,035,232.08-14.97 |2,348,000.00-559,883.76-23.85
6001 EXPENDITURES
6002 PERSONAL SERVICES 1,771,747.00 135,650.99 292,161.05 1,479,585.95 16.49 |1,703,179.00 258,488.11 15.18
6210 SUPPLIES 11,500.00 1,063.72 1,320.53 10,179.47 11.48 |12,500.00 525.23 4.20
6350 SERVICES & OTHER CHARGES 69,627.00 6,945.38 9,473.93 60,153.07 13.61 |77,627.00 11,670.29 15.03
6001 EXPENDITURES 1,852,874.00 143,660.09 302,955.51 1,549,918.49 16.35 |1,793,306.00 270,683.63 15.09
8001 OTHER INCOME
8200 MISC RECEIPTS 80.00-80.00-80.00 |
8001 OTHER INCOME 80.00-80.00-80.00 |
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES |2,783.21
8501 OTHER EXPENSE |2,783.21
4000 REVENUES & EXPENSES 540,541.00-45,916.46-55,307.41-485,233.59-10.23 |554,694.00-286,416.92-51.64
170 INSPECTIONAL SERVICES 540,541.00-45,916.46-55,307.41-485,233.59-10.23 |554,694.00-286,416.92-51.64
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 16
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
18Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
175 PUBLIC WORKS
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 75,100.00-6,800.00- 8,000.00- 67,100.00- 10.65 |48,300.00-3,300.00- 6.83
4270 FINES & FORFEITS 400.00-248.00-418.00-18.00 104.50 |140.00
4300 INTERGOVERNMENTAL 450,000.00-450,000.00-|430,000.00-223,272.50- 51.92
4600 CHARGES FOR SERVICES 330,000.00-330,000.00-|303,000.00-1,400.00- .46
5200 MISCELLANEOUS |10,000.00-
4001 REVENUES 855,500.00-7,048.00-8,418.00-847,082.00-.98 |791,300.00-227,832.50-28.79
6001 EXPENDITURES
6002 PERSONAL SERVICES 2,703,159.00 198,407.21 431,195.52 2,271,963.48 15.95 |2,616,986.01 435,015.19 16.62
6210 SUPPLIES 342,500.00 35,071.75 92,032.26 250,467.74 26.87 |317,300.00 48,725.16 15.36
6300 NON-CAPITAL EQUIPMENT 3,500.00 3,500.00 |3,600.00
6350 SERVICES & OTHER CHARGES 981,019.00 30,498.39 35,292.79 945,726.21 3.60 |902,666.00 110,265.60 12.22
6001 EXPENDITURES 4,030,178.00 263,977.35 558,520.57 3,471,657.43 13.86 |3,840,552.01 594,005.95 15.47
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 3,174,678.00 256,929.35 550,102.57 2,624,575.43 17.33 |3,049,252.01 366,173.45 12.01
175 PUBLIC WORKS 3,174,678.00 256,929.35 550,102.57 2,624,575.43 17.33 |3,049,252.01 366,173.45 12.01
01000 GENERAL FUND 3.00-1,534,067.15 2,842,769.95 2,842,772.95-**********|1.71-1,770,930.02 **********
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 17
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
19Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
02000 PARK AND RECREATION
200 ORGANIZED RECREATION
4000 REVENUES & EXPENSES
4001 REVENUES
4010 GENERAL PROPERTY TAXES 3,750,197.00-3,750,197.00-|3,540,854.00-
4300 INTERGOVERNMENTAL 44,702.00-44,702.00-|44,702.00-
4600 CHARGES FOR SERVICES 242,070.00- 61,758.10- 72,576.20- 169,493.80- 29.98 |242,870.00-50,699.75- 20.88
5200 MISCELLANEOUS 19,600.00-350.00- 19,250.00-1.79 |19,600.00-6,541.36- 33.37
4001 REVENUES 4,056,569.00-61,758.10-72,926.20-3,983,642.80-1.80 |3,848,026.00-57,241.11-1.49
6001 EXPENDITURES
6002 PERSONAL SERVICES 711,222.00 51,605.14 118,267.58 592,954.42 16.63 |685,781.00 112,064.67 16.34
6210 SUPPLIES 66,892.00 1,299.16 3,940.54 62,951.46 5.89 |69,832.00 4,523.28 6.48
6350 SERVICES & OTHER CHARGES 472,585.00 216,466.65 220,620.80 251,964.20 46.68 |467,741.00 25,720.72 5.50
6001 EXPENDITURES 1,250,699.00 269,370.95 342,828.92 907,870.08 27.41 |1,223,354.00 142,308.67 11.63
8001 OTHER INCOME
8100 INTEREST 1,600.00-1,600.00-|8,000.00-
8130 CONTRIBUTIONS/DONATIONS 13,100.00-13,100.00-|18,600.00-
8001 OTHER INCOME 14,700.00-14,700.00-|26,600.00-
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES 67.03 67.03 67.03-|
8501 OTHER EXPENSE 67.03 67.03 67.03-|
4000 REVENUES & EXPENSES 2,820,570.00-207,679.88 269,969.75 3,090,539.75-9.57-|2,651,272.00-85,067.56 3.21-
200 ORGANIZED RECREATION 2,820,570.00-207,679.88 269,969.75 3,090,539.75-9.57-|2,651,272.00-85,067.56 3.21-
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 18
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
20Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
201 RECREATION CENTER
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 645,500.00- 10,765.73- 28,235.43- 617,264.57-4.37 |642,500.00-26,702.49- 4.16
5200 MISCELLANEOUS 691,200.00- 58,366.02- 8,226.24 699,426.24-1.19- |678,200.00-69,492.62- 10.25
4001 REVENUES 1,336,700.00-69,131.75-20,009.19-1,316,690.81-1.50 |1,320,700.00-96,195.11-7.28
6001 EXPENDITURES
6002 PERSONAL SERVICES 765,999.00 40,503.41 91,365.25 674,633.75 11.93 |735,941.56 89,168.42 12.12
6210 SUPPLIES 167,100.00 7,523.80 12,892.60 154,207.40 7.72 |160,300.00 11,546.41 7.20
6300 NON-CAPITAL EQUIPMENT |4,832.97
6350 SERVICES & OTHER CHARGES 413,284.00 48,774.58 51,733.50 361,550.50 12.52 |411,358.00 49,297.39 11.98
7800 CAPITAL OUTLAY 12,000.00 12,000.00 |12,000.00
6001 EXPENDITURES 1,358,383.00 96,801.79 155,991.35 1,202,391.65 11.48 |1,319,599.56 154,845.19 11.73
8001 OTHER INCOME
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 21,683.00 27,670.04 135,982.16 114,299.16-627.14 |1,100.44-58,650.08 5,329.69-
201 RECREATION CENTER 21,683.00 27,670.04 135,982.16 114,299.16-627.14 |1,100.44-58,650.08 5,329.69-
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 19
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
21Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
202 PARK MAINTENANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4100 LICENSES & PERMITS 575.00- 1,400.00-1,400.00 |1,475.00-
4600 CHARGES FOR SERVICES 8,700.00-25.00 178.00 8,878.00-2.05- |8,700.00-1,273.85- 14.64
5200 MISCELLANEOUS 11,600.00-355.00- 1,690.00-9,910.00- 14.57 |10,600.00-3,120.70- 29.44
4001 REVENUES 20,300.00-905.00-2,912.00-17,388.00-14.34 |19,300.00-5,869.55-30.41
6001 EXPENDITURES
6002 PERSONAL SERVICES 961,356.00 69,762.85 152,850.31 808,505.69 15.90 |933,626.73 155,613.85 16.67
6210 SUPPLIES 88,700.00 6,851.60 9,504.88 79,195.12 10.72 |88,700.00 8,269.67 9.32
6300 NON-CAPITAL EQUIPMENT 4,000.00 508.80 3,491.20 12.72 |4,000.00 2,158.76 53.97
6350 SERVICES & OTHER CHARGES 316,462.00 21,331.39 27,189.04 289,272.96 8.59 |300,055.00 47,282.82 15.76
7800 CAPITAL OUTLAY 7,000.00 7,000.00 |7,000.00
6001 EXPENDITURES 1,377,518.00 97,945.84 190,053.03 1,187,464.97 13.80 |1,333,381.73 213,325.10 16.00
8001 OTHER INCOME
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES |1,319.24
8501 OTHER EXPENSE |1,319.24
4000 REVENUES & EXPENSES 1,357,218.00 97,040.84 187,141.03 1,170,076.97 13.79 |1,314,081.73 208,774.79 15.89
202 PARK MAINTENANCE 1,357,218.00 97,040.84 187,141.03 1,170,076.97 13.79 |1,314,081.73 208,774.79 15.89
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 20
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
22Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
203 WESTWOOD HILLS
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 80,150.00-1,688.00- 5,997.85- 74,152.15-7.48 |78,700.00-4,265.80- 5.42
4001 REVENUES 80,150.00-1,688.00-5,997.85-74,152.15-7.48 |78,700.00-4,265.80-5.42
6001 EXPENDITURES
6002 PERSONAL SERVICES 404,679.00 26,259.27 61,246.77 343,432.23 15.13 |394,252.59 62,934.43 15.96
6210 SUPPLIES 22,650.00 1,822.20 2,124.91 20,525.09 9.38 |22,300.00 1,390.09 6.23
6350 SERVICES & OTHER CHARGES 39,349.00 2,618.59 4,040.70 35,308.30 10.27 |35,532.00 5,445.57 15.33
6001 EXPENDITURES 466,678.00 30,700.06 67,412.38 399,265.62 14.45 |452,084.59 69,770.09 15.43
8001 OTHER INCOME
8130 CONTRIBUTIONS/DONATIONS 100.00-100.00 |
8001 OTHER INCOME 100.00-100.00 |
8501 OTHER EXPENSE
8590 BANK CHARGES/CREDIT CD FEES |63.14
8501 OTHER EXPENSE |63.14
4000 REVENUES & EXPENSES 386,528.00 29,012.06 61,314.53 325,213.47 15.86 |373,384.59 65,567.43 17.56
203 WESTWOOD HILLS 386,528.00 29,012.06 61,314.53 325,213.47 15.86 |373,384.59 65,567.43 17.56
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 21
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
23Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
204 ENVIRONMENT
4000 REVENUES & EXPENSES
4001 REVENUES
4600 CHARGES FOR SERVICES 81,750.00-375.00- 4,813.15- 76,936.85-5.89 |69,450.00-67,287.73- 96.89
4001 REVENUES 81,750.00-375.00-4,813.15-76,936.85-5.89 |69,450.00-67,287.73-96.89
6001 EXPENDITURES
6002 PERSONAL SERVICES 99,297.00 8,126.36 17,523.17 81,773.83 17.65 |96,662.52 10,946.25 11.32
6210 SUPPLIES 17,900.00 1,942.32 3,762.97 14,137.03 21.02 |13,600.00 134.95- .99-
6300 NON-CAPITAL EQUIPMENT 500.00 500.00 |500.00
6350 SERVICES & OTHER CHARGES 171,285.00 42,325.94 46,872.40 124,412.60 27.37 |165,835.00 66,354.49 40.01
6001 EXPENDITURES 288,982.00 52,394.62 68,158.54 220,823.46 23.59 |276,597.52 77,165.79 27.90
8001 OTHER INCOME
8130 CONTRIBUTIONS/DONATIONS 2,000.00 2,000.00 |2,000.00
8001 OTHER INCOME 2,000.00 2,000.00 |2,000.00
8501 OTHER EXPENSE
4000 REVENUES & EXPENSES 209,232.00 52,019.62 63,345.39 145,886.61 30.28 |209,147.52 9,878.06 4.72
204 ENVIRONMENT 209,232.00 52,019.62 63,345.39 145,886.61 30.28 |209,147.52 9,878.06 4.72
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 22
3/20/2008CITY OF ST LOUIS PARK 14:17:43R5509FIN1 LOGIS005
24Monthly Financial Report Page -By Co, Dept (pb), Object
2008
20082/29/2008 <==========================================>20072008
Description
Annual
Budget
Current
Period
YTD
Actual
Budget
Balance
Per Cent
Used
|
|
Prior Year
Budget
Same Period Prior
Year YTD Actual
Per Cent
Used
205 VEHICLE MAINTENANCE
4000 REVENUES & EXPENSES
4001 REVENUES
4300 INTERGOVERNMENTAL 11,700.00-11,700.00-|11,700.00-
4600 CHARGES FOR SERVICES |35,000.00-
5200 MISCELLANEOUS 100,661.00-100,661.00-|100,661.00-
4001 REVENUES 112,361.00-112,361.00-|147,361.00-
6001 EXPENDITURES
6002 PERSONAL SERVICES 461,301.00 36,554.72 84,121.29 377,179.71 18.24 |440,063.73 67,817.54 15.41
6210 SUPPLIES 432,050.00 76,820.64 87,763.84 344,286.16 20.31 |414,100.00 61,940.32 14.96
6350 SERVICES & OTHER CHARGES 130,939.00 12,191.68 22,769.28 108,169.72 17.39 |140,210.00 24,155.87 17.23
6001 EXPENDITURES 1,024,290.00 125,567.04 194,654.41 829,635.59 19.00 |994,373.73 153,913.73 15.48
8001 OTHER INCOME
8010 TRANSFERS IN 75,000.00-75,000.00-|100,000.00-
8001 OTHER INCOME 75,000.00-75,000.00-|100,000.00-
8501 OTHER EXPENSE
8510 TRANSFERS OUT 8,981.00 8,981.00 |8,745.73 1,457.66 16.67
8501 OTHER EXPENSE 8,981.00 8,981.00 |8,745.73 1,457.66 16.67
4000 REVENUES & EXPENSES 845,910.00 125,567.04 194,654.41 651,255.59 23.01 |755,758.46 155,371.39 20.56
205 VEHICLE MAINTENANCE 845,910.00 125,567.04 194,654.41 651,255.59 23.01 |755,758.46 155,371.39 20.56
02000 PARK AND RECREATION 1.00 538,989.48 912,407.27 912,406.27-*********|.14-583,309.31 **********
Meeting of March 24, 2008 (Item No. 8)
Subject: February Financial Report Page 23
Meeting Date: March 24, 2008
Agenda Item #: 9
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Proposed Redevelopment Contract with Lake Street Office Center LLC (Real Estate Recycling).
RECOMMENDED ACTION:
Staff wishes to apprise the EDA and receive feedback on the proposed Contract for Private
Redevelopment with Lake Street Office Center LLC for the redevelopment of the former Erv’s
Garage Property located at 7102 and 7104 Lake Street.
POLICY CONSIDERATION:
Is the proposed Contract for Private Redevelopment with Lake Street Office Center LLC (Real
Estate Recycling) generally acceptable?
BACKGROUND:
Real Estate Recycling (RER) plans to cleanup and redevelop the former Erv’s Lawnmower Repair
Garage site located at 7102 and 7104 Lake Street West (the “subject property”). Upon the removal
of the existing building and billboards on the site, RER’s environmental response action plan calls
for excavation and treatment of the contaminated soils and then capping those soils on site with a
new building and parking lot. Once the contamination on the property has been properly addressed
and the site prepared for redevelopment, RER proposes to construct a 4,000 square foot office
building called the Lake Street Office Center.
On February 4, 2008, the EDA approved the Letter of Intent between Lake Street Office Center
LLC (Real Estate Recycling). Included as part of this agreement was a provision stipulating that the two
parties “negotiate towards a definitive Contract providing generally for (a) tax increment assistance of
$400,000; (b) disbursement of proceeds of the Grants to Redeveloper for remediation activities in
accordance with the respective grant agreements; and (3) timely construction of the Project by
Redeveloper”.
Attached is a draft Contract for Private Redevelopment between the EDA and Lake Street Office
Center LLC. The EDA and Redeveloper’s attorneys are continuing to hone and refine the details of
the agreement. Any substantive revisions will be brought to the EDA’s attention. If the proposed
Contract is acceptable, the EDA will be asked to formally approve it and the proposed modification
to the TIF Plan for the Victoria Ponds TIF District on April 7th.
Redevelopment Contract
The proposed Contract for Private Redevelopment between the EDA and Lake Street Office Center
LLC is modeled after the recently approved Redevelopment Contract with Anderson Builders for its
proposed Oak Hill II office building. The primary difference between the two contracts is the
source of financing and the fact that the EDA will also be disbursing grant funds for the cleanup of
Meeting of March 24, 2008 (Item No. 9) Page 2
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC (Real Estate Recycling)
the former Erv’s Garage property. The attached contract with Lake Street Office Center LLC is
summarized below.
Lake Street Office Center LLC agrees to properly remove the existing structures (building and two
billboards) at 7102 and 7104 Lake Street, properly remediate the soils on the property in
conformance with the MPCA-approved Voluntary Response Action Plan (VRAP), and construct a
4,000 SF office building to be known as Lake Street Office Center according to approved
construction plans.
The EDA agrees to disburse proceeds of the DEED, Met Council, and Hennepin County
environmental remediation grants it obtained (totaling $321,000) to Redeveloper for qualified
remediation activities in accordance with the EDA’s grant agreements with these agencies.
The Redeveloper agrees to provide annual reports to the EDA for five years so as to allow the EDA
to be in compliance with the grant agreements.
During work on the Minimum Improvements, Redeveloper must post a sign on the site containing the
following or similar language:
This project was financed in part through the St. Louis Park Economic Development
Authority, with grant funds provided by the Metropolitan Council Livable Communities Fund,
and by grants from the Minnesota Department of Employment and Economic Development
and Hennepin County.
The Redeveloper agrees to begin construction on the project by June 1, 2008 and complete it by
December 31, 2008. The Redeveloper agrees to remove the two existing billboards on the property
by July 1, 2008. The project will be deemed complete upon issuance of a final Certificate of
Completion.
In order to make the proposed project financially feasible, the EDA will reimburse the Redeveloper for a
portion of the costs of acquisition of the Redevelopment Property incurred by the Redeveloper (the
“Public Redevelopment Costs”), through issuance of a Tax Increment Note in the maximum principal
amount of $400,000. The Note will be issued upon satisfaction of numerous requirements specified
in the Contract including EDA acceptance of the Redeveloper’s Public Redevelopment Costs. The
Note will be secured solely by available Tax Increment from the Victoria Ponds TIF District. The Note
will bear an interest rate of 5.0 % per annum. Principal and interest payments to the Redeveloper will
be paid according to a Payment Schedule starting August 1, 2008 and will paid every February 1 and
August 1 thereafter through February 1, 2013.
Before issuance and delivery of the Note, Redeveloper must submit to the EDA (i) a copy of the closing
statement and certificate of real estate value in connection with the Redeveloper’s acquisition of the
Redevelopment Property; and (ii) Construction Plans. The EDA will deliver the Note upon receipt and
approval of the closing statement and certificate of real estate value evidencing Public Redevelopment
Costs in at least the principal amount of the Note and the Construction Plans for the Minimum
Improvements.
Meeting of March 24, 2008 (Item No. 9) Page 3
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC (Real Estate Recycling)
The Contract contains a Look Back Provision which allows the EDA to review the final project
proforma to determine how the project actually performed upon 95 percent occupancy or sale
within 5 years. If the project performs better than anticipated, meaning interest rate, construction
costs and other costs are lower and/or lease rates are higher and the Redeveloper achieves an Internal
Rate of Return exceeding 10%, the EDA has the opportunity to reduce the amount of assistance
provided.
Upon execution of the Contract the Redeveloper agrees to pay the EDA a TIF Application Fee of
$2,000. In addition, until the Maturity Date, the Redeveloper is responsible to pay all reasonable out of
pocket costs for legal and financial advising services incurred by the EDA that are attributable to or
incurred in connection with the negotiation and preparation of the Contract and other documents and
agreements in connection with the development.
The financial assistance to be provided to the Redeveloper does not constitute a business subsidy
under state statutes as it meets the Redevelopment exemption.
Before issuance of the Note, the Redeveloper and the EDA agree to execute a Minimum Assessment
Agreement specifying the assessor’s minimum market value for the improved property. The amount of
minimum market value for this project will be $1,150,000 as of January 2, 2009.
In order to facilitate the Redeveloper obtaining financing for the project, the EDA agrees to subordinate
its rights under the Contract to the Holder of any Mortgage.
The Redeveloper agrees not to transfer the subject property, except to an affiliate, until after the project
is completed. Should the Redeveloper seek to transfer the property, the proposed transferee must be
acceptable to the EDA and is subject to same terms and conditions specified in the Contract.
FINANCIAL OR BUDGET CONSIDERATION:
Lake Street Office Center LLC (Real Estate Recycling) would be provided with $400,000 upon
acquisition, remediation and redevelopment of former Erv’s Garage Property located at 7102 and
7104 Lake Street. The funds would be disbursed from available pooled tax increment derived from
the Victoria Ponds TIF District over a 6 year period.
VISION CONSIDERATION:
The proposed project is consistent with the Strategic Directions of Vision St. Louis Park as it relates
to environmental stewardship. It is also consistent with the goals expressed in the Redevelopment
section of the City’s Comprehensive Plan.
Attachments: Draft Contract for Private Redevelopment between the EDA and Lake Street
Office Center LLC
Prepared by: Greg Hunt, Economic Development Coordinator
Reviewed by: Kevin Locke, Community Development Director
Approved by: Tom Harmening, EDA Executive Director
328776v2 MNI SA285-88
Second draft, March 18, 2008
CONTRACT
FOR
PRIVATE REDEVELOPMENT
By and Between
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
and
LAKE STREET OFFICE CENTER LLC
Dated as of: __________, 2008
This document was drafted by:
KENNEDY & GRAVEN, Chartered
470 US Bank Plaza
200 South Sixth Street
Minneapolis, Minnesota 55402
Telephone: (612) 337-9300
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 4
328776v2 MNI SA285-88 i
TABLE OF CONTENTS
Page
PREAMBLE .........................................................................................................................................1
ARTICLE I
Definitions
Section 1.1. Definitions.......................................................................................................................3
ARTICLE II
Representations and Warranties
Section 2.1. Representations by the Authority...................................................................................7
Section 2.2. Representations and Warranties by the Redeveloper....................................................7
ARTICLE III
Land Acquisition and Conveyance
Section 3.1. Status of Redevelopment Property.................................................................................9
Section 3.2. Environmental Undertakings..........................................................................................9
Section 3.3. Grant Disbursement........................................................................................................9
Section 3.4. Issuance of Note............................................................................................................11
Section 3.5. Lookback.......................................................................................................................12
Section 3.6. Payment of Administrative Costs ................................................................................12
Section 3.7. Business Subsidy Provisions........................................................................................12
ARTICLE IV
Construction of Minimum Improvements
Section 4.1. Construction of Minimum Improvements...................................................................14
Section 4.2. Site Plan and Construction Plans .................................................................................14
Section 4.3. Commencement and Completion of Construction......................................................15
Section 4.4. Certificate of Completion.............................................................................................15
Section 4.5. Billboard........................................................................................................................16
Section 4.6. Records..........................................................................................................................16
Section 4.7. Reports...........................................................................................................................16
Section 4.8. Acknowledgements.......................................................................................................17
Section 4.9. Contract Requirements.................................................................................................17
ARTICLE V
Insurance
Section 5.1. Insurance .......................................................................................................................18
Section 5.2. Subordination................................................................................................................19
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 5
328776v2 MNI SA285-88 ii
ARTICLE VI
Tax Increment; Taxes
Section 6.1. Right to Collect Delinquent Taxes...............................................................................20
Section 6.2. Reduction of Taxes.......................................................................................................20
Section 6.3. Assessment Agreements...............................................................................................20
ARTICLE VII
Financing
Section 7.1. Redeveloper Financing.................................................................................................21
Section 7.2. Subordination................................................................................................................21
ARTICLE VIII
Prohibitions Against Assignment and Transfer; Indemnification
Section 8.1. Representation as to Development...............................................................................22
Section 8.2. Prohibition Against Redeveloper’s Transfer of Property and
Assignment of Agreement............................................................................................22
Section 8.3. Release and Indemnification Covenants......................................................................23
ARTICLE IX
Events of Default
Section 9.1. Events of Default Defined............................................................................................25
Section 9.2. Remedies on Default.....................................................................................................25
Section 9.3. No Remedy Exclusive..................................................................................................26
Section 9.4. No Additional Waiver Implied by One Waiver..........................................................26
ARTICLE X
Additional Provisions
Section 10.1. Conflict of Interests; Authority Representatives Not Individually
Liable.............................................................................................................................27
Section 10.2. Equal Employment Opportunity..................................................................................27
Section 10.3. Restrictions on Use.......................................................................................................27
Section 10.4. Titles of Articles and Sections......................................................................................27
Section 10.5. Notices and Demands...................................................................................................27
Section 10.6. Counterparts..................................................................................................................28
Section 10.7. Recording......................................................................................................................28
Section 10.8. Minnesota Law..............................................................................................................28
Section 10.9. Disclaimer of Relationships .........................................................................................28
Section 10.10. Modifications................................................................................................................28
Section 10.11. Approvals......................................................................................................................28
TESTIMONIUM .................................................................................................................................S-1
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SIGNATURES ....................................................................................................................................S-2
SCHEDULE A Redevelopment Property
SCHEDULE B Site Plan
SCHEDULE C Grant-Eligible Costs
SCHEDULE D Draw Request
SCHEDULE E Authorizing Resolution
SCHEDULE F Redeveloper Repayment Example
SCHEDULE G Certificate of Completion
SCHEDULE H Form of Assessment Agreement
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CONTRACT FOR PRIVATE REDEVELOPMENT
THIS AGREEMENT, made as of the _________ day of _____, 2008, by and between the
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY, a public body corporate and
politic (the “Authority”), established pursuant to Minnesota Statutes, Sections 469.090 to 469.1081
(hereinafter referred to as the “Act”) and LAKE STREET OFFICE CENTER LLC, a Minnesota
limited liability company (the “Redeveloper”).
WITNESSETH:
WHEREAS, the Authority was created pursuant to the Act and was authorized to transact
business and exercise its powers by a resolution of the City Council of the City of St. Louis Park
(the “City”); and
WHEREAS, the Authority has undertaken a program to promote redevelopment of land
that is characterized by blight and blighting factors within the City, and for this purpose the
Authority has created Redevelopment Project No. 1 (hereinafter referred to as the “Project”) in the
City, pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended (the “HRA Act”);
and
WHEREAS, the Authority has heretofore established a redevelopment tax increment
financing district known as the Victoria Ponds Tax Increment Financing District (the “TIF District”)
within the Project and adopted a financing plan (the “TIF Plan”) for the TIF District in order to
facilitate redevelopment of certain property in the Project, all pursuant to Minnesota Statutes,
Sections 469.174 to 469.179, as amended (the “TIF Act”);
WHEREAS, the Redeveloper has proposed a development within the Project which the
Authority believes will promote and carry out the objectives for which redevelopment is
undertaken, will be in the vital and best interests of the City, will promote the health, safety, morals,
and welfare of its residents and will be in accord with the public purposes and provisions of the
applicable state and local laws and requirements under which activities within the Project have been
undertaken and are being assisted; and
WHEREAS, the Redeveloper intends to purchase property within the Project (the
“Redevelopment Property”) and to develop the Redevelopment Property for and in accordance with
this Agreement; and
WHEREAS, the Authority believes that the redevelopment of the Redevelopment Property
pursuant to this Agreement, and fulfillment generally of this Agreement, are in the vital and best
interests of the City and the health, safety, morals, and welfare of its residents, and in accord with
the public purposes and provisions of the applicable state and local laws and requirements under
which activities within the Project have been undertaken and are being assisted; and
WHEREAS, consistent with the TIF Plan, the Authority is willing to provide financial
assistance in accordance with the provisions of this Agreement.
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NOW, THEREFORE, in consideration of the premises and the mutual obligations of the
parties hereto, each of them does hereby covenant and agree with the other as follows:
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ARTICLE I
Definitions
Section 1.1. Definitions. In this Agreement, unless a different meaning clearly appears
from the context:
“Act” means Minnesota Statutes, Sections 469.090 to 469.1081, as amended.
“Affiliate” means with respect to entity (a) any corporation, partnership, limited liability
company or other business entity or person controlling, controlled by or under common control
with the entity, and (b) any successor to such party by merger, acquisition, reorganization or
similar transaction involving all or substantially all of the assets of such party (or such Affiliate).
For the purpose hereof the words “controlling”, “controlled by” and “under common control
with” shall mean, with respect to any corporation, partnership, limited liability company or other
business entity, the ownership of fifty percent or more of the voting interests in such entity or
possession, directly or indirectly, of the power to direct or cause the direction of management
policies of such entity, whether through ownership of voting securities or by contract or
otherwise.
“Agreement” means this Agreement, as the same may be from time to time modified,
amended, or supplemented.
“Assessment Agreement” means any Assessment Agreement entered into pursuant to
Section 6.3 hereof.
“Authority” means the St. Louis Park Economic Development Authority.
“Authority Representative” means the Executive Director or the Deputy Executive Director
of the Authority, or any person designated in writing by the Executive Director to serve as Authority
Representative.
“Authorizing Resolution” means the resolutions of the Authority, substantially in the form
of attached Schedule E to be adopted by the Authority to authorize the issuance of the Note.
“Available Tax Increment” has the meaning described in the Authorizing Resolution.
“Business Subsidy Act” means Minnesota Statutes, Sections 116J.993 to 116J.995, as
amended.
“City” means the City of St. Louis Park.
“Certificate of Completion” means the certification provided to the Redeveloper, or the
purchaser of any part, parcel or unit of the Redevelopment Property, pursuant to Section 4.4 of this
Agreement.
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“Code” means the Internal Revenue Code of 1986, as amended.
“Construction Plans” means the plans, specifications, drawings and related documents on
the construction work to be performed by the Redeveloper on the Redevelopment Property,
including the Minimum Improvements, which (a) shall be as detailed as the plans, specifications,
drawings and related documents which are submitted to the appropriate building officials of the
City, and (b) shall include at least the following: (1) site plan; (2) foundation plan; (3) basement
plans; (4) floor plan for each floor; (5) cross sections of each (length and width); (6) elevations (all
sides); (7) landscape plan; and (8) such other plans or supplements to the foregoing plans as the
Authority may reasonably request to allow it to ascertain the nature and quality of the proposed
construction work.
“County” means the County of Hennepin, Minnesota.
“County Grant Agreement” means the Environmental Response Fund Grant Agreement
between the Authority and Hennepin County, by and through its Department of Environmental
Services, dated as of ______________, 2008.
“DEED” means the Minnesota Department of Employment and Economic Development.
“DEED Grant Agreement” means the Contamination Cleanup Program Grant Agreement
between DEED and the Authority dated as of December 21, 2007.
“Event of Default” means an action by the Redeveloper listed in Article IX of this
Agreement.
“Grant-Eligible Costs” means the costs eligible for funding under the DEED Grant
Agreement, the County Grant Agreement and the Met Council Grant Agreement, as described in
Schedule C.
“Holder” means the owner of a Mortgage.
“HRA Act” means Minnesota Statutes, Sections 469.001 to 469.047, as amended.
“LOI” means the Letter of Intent between the Authority and Redeveloper dated February __,
2008.
“Material Change” means a change in the Construction Plans (excluding buyer options and
upgrades) that increase or decrease construction costs by $100,000 or more.
“Maturity Date” means the date that the Note has been paid in full, redeemed or prepaid, or
defeased in accordance with its terms.
“Met Council” means the Metropolitan Council.
“Met Council Grant Agreement” means the Metropolitan Livable Communities Act Grant
Agreement between the Metropolitan Council and the Authority dated as of ___________, 2008.
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“Minimum Improvements” means the construction on the Redevelopment Property of an
approximately 4,000 SF office building, to be known as the Lake Street Office Center, pursuant to
the approved Construction Plans.
“Mortgage” means any mortgage made by the Redeveloper or its Affiliate which is secured,
in whole or in part, with the Redevelopment Property.
“MPCA” means the Minnesota Pollution Control Agency.
“Net Proceeds” means any proceeds paid by an insurer to the Redeveloper under a policy
or policies of insurance required to be provided and maintained by the Redeveloper pursuant to
Article V of this Agreement and remaining after deduction of all expenses (including fees and
disbursements of counsel) incurred in the collection of such proceeds.
“Note” means the Tax Increment Revenue Note to be issued by the Authority as described
in Section 3.4 hereof.
“Parcel” means any parcel of the Redevelopment Property.
“Project” means the City’s Redevelopment District No. 1.
“Project Area” means the real property located within the boundaries of the Project.
“Public Redevelopment Costs” means the Redeveloper verified costs associated with the
acquisition of the Redevelopment Property.
“Redeveloper” means Lake Street Office Center LLC, a Minnesota limited liability
company, and any permitted successors and assigns of Redeveloper.
“Redevelopment Plan” means the Authority’s Redevelopment Plan for Redevelopment
District No. 1 as modified April 7, 2008 and as it may be further modified.
“Redevelopment Property” means the real property described in Schedule A of this
Agreement.
“Site Plan” means the site plan attached as Schedule B.
“State” means the State of Minnesota.
“Tax Increment” means that portion of the real property taxes which is paid with respect to
the property located within the TIF District and which is remitted to the City as tax increment
pursuant to the Tax Increment Act. The term Tax Increment does not include any amounts retained
by or payable to the State auditor under Section 469.177, subd. 11 or the Tax Increment Act, or any
amounts described in Section 469.174, subd. 25, clauses (2) through (4) of the Tax Increment Act.
“Tax Increment Act” or “TIF Act” means the Tax Increment Financing Act, Minnesota
Statutes, Sections 469.174 to 469.179, as amended.
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Tax Increment District” or “TIF District” means the City’s Victoria Ponds Tax Increment
Financing District, as modified.
“Tax Increment Plan” or “TIF Plan” means the City’s Tax Increment Financing Plan for the
Victoria Ponds Tax Increment Financing District, as approved April 1, 1996, as amended April 7,
2008, and as it may be further amended.
“Tax Official” means any County assessor; County auditor; County or State board of
equalization, the commissioner of revenue of the State, or any State or federal district court, the tax
court of the State, or the State Supreme Court.
“Transfer” has the meaning provided in Section 8.2(a).
“Unavoidable Delays” means delays caused by encountering unanticipated underground
obstructions or environmental contamination and delays which are the direct result of war,
terrorism, strikes, other labor troubles, unforeseen delays in obtaining construction materials,
machinery, and/or equipment, fire or other casualty, litigation commenced by third parties which,
by injunction or other similar judicial action, directly results in delays, or acts of any federal,
state or local governmental unit (other than the Authority in enforcing its rights under this
Agreement) which directly result in delays. Unavoidable Delays shall not include delays in the
Redeveloper’s obtaining of permits or governmental approvals necessary to enable construction
of the Minimum Improvements by the dates such construction is required under Section 4.3 of
this Agreement, unless such delays are beyond the normal time period for approval.
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ARTICLE II
Representations and Warranties
Section 2.1. Representations by the Authority. The Authority makes the following
representations as the basis for the undertaking on its part herein contained:
(a) The Authority is an economic development authority duly organized and existing
under the laws of the State. Under the provisions of the Act and the HRA Act, the Authority has the
power to enter into this Agreement and carry out its obligations hereunder.
(b) The activities of the Authority are undertaken for the purpose of fostering the
redevelopment of certain real property that is or was occupied primarily by substandard and
obsolete buildings, which redevelopment will revitalize this portion of the Project, increase tax base,
and create employment opportunities.
(c) The Authority has duly authorized the execution, delivery and performance of this
Agreement by action of its Board of Commissioners on April 7, 2008.
(d) The Authority will use its best efforts to facilitate redevelopment of the Minimum
Improvements, including but not limited to cooperating with the Redeveloper in obtaining
necessary administrative, environmental and land use approvals.
(e) The Authority has received no notice or communication arising under law or from
any local, state or federal official that the activities of the Redeveloper or the Authority in the
Project Area may be or will be in violation of any environmental law or regulation or any other
local, state or federal laws or regulations. The Authority is aware of no facts the existence of
which would cause it to be, by virtue of the execution of this Agreement and performance of its
obligations herein, in violation of any local, state or federal development or environmental law,
regulation or review procedure.
(f) The Minimum Improvements are allowed uses under the zoning ordinances of the
City consistent with the Project Plan.
Section 2.2. Representations and Warranties by the Redeveloper. The Redeveloper
represents and warrants that:
(a) The Redeveloper is a limited liability company duly organized and in good standing
under the laws of the State of Minnesota, is not in violation of any provisions of its bylaws, its
operating agreement or (to the best of its knowledge) the laws of the State, is duly authorized to
transact business within the State, has power to enter into this Agreement and has duly
authorized the execution, delivery and performance of this Agreement by proper action of its
members.
(b) If the conditions precedent to construction occur, and subject to the terms, covenants
and conditions herein, the Redeveloper will comply with its agreement to construct, operate and
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maintain the Minimum Improvements in accordance with the terms of this Agreement, the
Redevelopment Plan and all local, state and federal laws and regulations (including, but not limited
to, environmental, zoning, building code and public health laws and regulations).
(c) The Redeveloper has received no notice or communication from any local, state or
federal official that the activities of the Redeveloper or the Authority in the Project Area may be or
will be in violation of any environmental law or regulation (other than those notices or
communications of which the Authority is aware). The Redeveloper is aware of no facts the
existence of which would cause it to be in violation of or give any person a valid claim under any
local, state or federal environmental law, regulation or review procedure.
(d) To the extent the Redeveloper is required to construct the Minimum
Improvements, the Redeveloper will construct the Minimum Improvements in accordance with
all local, state or federal energy-conservation laws or regulations.
(e) The Redeveloper will use all reasonable effort to secure all required permits,
licenses and approvals, and to meet, in a timely manner, all requirements of all applicable local,
state and federal laws and regulations which must be obtained or met before the Minimum
Improvements may be lawfully constructed.
(f) Neither the execution and delivery of this Agreement, the consummation of the
transactions contemplated hereby, nor the fulfillment of or compliance with the terms and
conditions of this Agreement is prevented, limited by or conflicts with or results in a breach of,
the terms, conditions or provisions of any partnership or company restriction or any evidences of
indebtedness, agreement or instrument of whatever nature to which the Redeveloper is now a
party or by which it is bound, or constitutes a default under any of the foregoing.
(g) The proposed development by the Redeveloper hereunder would not occur but for
the tax increment financing assistance provided by the Authority hereunder.
(h) The Redeveloper shall promptly advise the Authority in writing of all litigation or
claims affecting any part of the Minimum Improvements and all written complaints and charges
made by any governmental authority materially affecting the Minimum Improvements or materially
affecting Redeveloper or its business which may delay or require changes in construction of the
Minimum Improvements, until the Certificate of Completion is issued.
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ARTICLE III
Land Acquisition and Conveyance
Section 3.1. Status of Redevelopment Property. In order to secure timely access to the
Redevelopment Property and in reliance on execution of this Agreement pursuant to the terms of the
LOI, the Redeveloper acquired fee title to the Redevelopment Property prior to the date of this
Agreement. The Redeveloper acknowledges that the Authority has no obligation to acquire any of
the Redevelopment Property.
Section 3.2. Environmental Undertakings. (a) The parties acknowledge that MPCA has
approved a voluntary response action plan providing for remediation of hazardous wastes and
contaminants on the Redevelopment Property (the “VRAP”). Redeveloper shall promptly undertake
remediation and any other actions required under the VRAP, subject to the reimbursement as further
described in this Agreement.
(b) The Redeveloper acknowledges that the Authority makes no representations or
warranties as to soil and environmental condition on the Redevelopment Property or the fitness of
the Redevelopment Property for construction of the Minimum Improvements or any other purpose
for which the Redeveloper may make use of such property, and that the assistance provided to the
Redeveloper under this Agreement neither implies any responsibility by the Authority for any
contamination of the Redevelopment Property or poor soil conditions nor imposes any obligation on
the Authority to participate in any cleanup of the Redevelopment Property and/or correction of any
soil problems (other than the financing described in this agreement).
(c) Without limiting its obligations under Section 8.3 of this Agreement the
Redeveloper further agrees that it will indemnify, defend, and hold harmless the Authority, the City,
and their governing body members, officers, and employees, from any claims or actions arising out
of the presence, if any, of hazardous wastes or pollutants existing on or in the Redevelopment
Property unless and to the extent that such hazardous wastes or pollutants are present as a result of
the actions or omissions of the indemnitees. Nothing in this section will be construed to limit or
affect any limitations on liability of the City or Authority under State or federal law, including
without limitation Minnesota Statutes Sections 466.04 and 604.02.
Section 3.3. Grant Disbursement. (a) To finance a portion of the environmental
remediation costs on the Redevelopment Property described in Schedule C (the “Grant-Eligible
Costs”), the Authority has obtained a grant from DEED in the amount of $118,000, a grant from the
County in the amount of $103,000, and a grant from the Met Council in the amount of $100,000.
(b) The Authority will pay or reimburse the Redeveloper for Grant-Eligible Costs from
and to the extent of the grant proceeds from DEED, the Met Council, and the County in accordance
with the terms of the DEED Grant Agreement, the Met Council Grant Agreement, and the County
Grant Agreement, respectively, and the terms of this Section. Notwithstanding anything to the
contrary herein, if Grant-Eligible Costs exceed the amount to be reimbursed under this Section, such
excess shall be the sole responsibility of the Redeveloper.
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(c) All disbursements will be made subject to the conditions precedent that on the date
of such disbursement:
(1) The Authority has received a written statement from the Redeveloper’s
authorized representative certifying with respect to each payment: (a) that none of the items
for which the payment is proposed to be made has formed the basis for any payment
previously made under this Section (or before the date of this Agreement); (b) that each item
for which the payment is proposed is a Grant-Eligible Cost, including a statement specifying
which grant is the eligible funding source; and (c) the Redeveloper reasonably anticipates
completion of the Grant-Eligible Costs and the Minimum Improvements in accordance with
the terms of this Agreement.
(2) No Event of Default under this Agreement or event which would constitute
such an Event of Default but for the requirement that notice be given or that a period of
grace or time elapse, shall have occurred and be continuing.
(3) No license or permit necessary for undertaking the Grant-Eligible Costs or
constructing the Minimum Improvements shall have been revoked or the issuance thereof
subjected to challenge before any court or other governmental authority having or asserting
jurisdiction thereover.
(4) Redeveloper has submitted, and the Authority has approved, Construction
Plans for the Minimum Improvements in accordance with Article IV hereof.
(d) Whenever the Redeveloper desires a disbursement to be made hereunder, which
shall be no more often than bi-weekly, the Redeveloper shall submit to the Authority a draw request
in the form attached as Schedule D duly executed on behalf of the Redeveloper accompanied by
paid invoices or other comparable evidence that the cost has been incurred and paid or is payable by
Redeveloper. Each draw request shall constitute a representation and warranty by the Redeveloper
that all representations and warranties set forth in this Agreement are true and correct as of the date
of such draw request.
(e) If the Redeveloper has performed all of its agreements and complied with all
requirements theretofore to be performed or complied with hereunder, including satisfaction of all
applicable conditions precedent contained in Article III hereof, the Authority shall make a
disbursement to the Redeveloper in the amount of the requested disbursement or such lesser amount
as shall be approved, within twenty Business Days after the date of the Authority’s receipt of the
draw request, or, if later, upon receipt of grant proceeds from DEED, the County, or the Met
Council, as the case may be. Each disbursement shall be paid from the grant designated by the
Authority at its discretion, subject to the Authority’s determination that the relevant Grant-Eligible
Cost is payable from the designated source under the DEED Grant Agreement, the County Grant
Agreement and the Met Council Grant Agreement.
(f) The making of the final disbursement by the Authority under this Section shall be
subject to the condition precedent that the Redeveloper shall be in compliance with all conditions
set forth in this Section and further, that the following conditions shall have been satisfied:
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(1) The Redeveloper shall have received a certificate of completion from the
Minnesota Pollution Control Agency pursuant to Minnesota Statutes, Section 115B.175,
subdivision 5, clause (b); and
(2) The Authority shall have received a lien waiver from each contractor for all
work done and for all materials furnished by it for the Grant-Eligible Costs.
(g) The Authority may, in its sole discretion, without notice to or consent from any other
party, waive any or all conditions for disbursement set forth in this Article. However, the making of
any disbursement prior to fulfillment of any condition therefor shall not be construed as a waiver of
such condition, and the Authority shall have the right to require fulfillment of any and all such
conditions prior to authorizing any subsequent disbursement.
Section 3.4. Issuance of Note. (a) Terms. In order to make construction of the Minimum
Improvements financially feasible, the Authority will reimburse the Redeveloper for a portion of the
costs of acquisition of the Redevelopment Property incurred by the Redeveloper (the “Public
Redevelopment Costs”), through issuance of the Note in accordance with this Section. The
Authority shall issue and the Redeveloper shall purchase the Note in the maximum principal
amount of $400,000. The Note will be issued as reimbursement of Public Redevelopment Costs,
and secured solely by Available Tax Increment. The terms of the Note, including maturity and
payment dates, will be substantially those set forth in the form of the Note shown in Schedule E.
The Note will bear interest at 5.74% per annum. The Note will be dated as of the date of delivery,
and interest will accrue from such date.
(b) Issuance. Before issuance and delivery of the Note, Redeveloper must submit to the
Authority (i) a copy of the closing statement and certificate of real estate value in connection with
the Redeveloper’s acquisition of the Redevelopment Property; and (ii) Construction Plans. The
Authority will deliver the Note upon receipt and approval of the closing statement and certificate of
real estate value evidencing Public Redevelopment Costs in at least the principal amount of the Note
and the Construction Plans for the Minimum Improvements as described in Section 4.2 hereof;
provided that in no event will the Authority deliver the Note prior to execution and recording of the
Assessment Agreement under Section 6.3 hereof.
(c) Termination of right to Note. Notwithstanding anything to the contrary in this
Agreement, if the conditions for delivery of the Note are not met by the date required for
commencement of construction of the Minimum Improvements under Section 4.3, the Authority
may terminate the Redeveloper’s right to receive the Note by ten days written notice to the
Redeveloper. Thereafter neither party shall have any obligations or liability to the other hereunder
with respect to the Note.
(d) Qualifications. The Redeveloper understands and acknowledges that the
Authority makes no representations or warranties regarding the amount of Available Tax
Increment, or that revenues pledged to the Note will be sufficient to pay the principal and interest
on the Note. Any estimates of Tax Increment prepared by the Authority or its financial advisors
in connection with the TIF District or this Agreement are for the benefit of the Authority, and are
not intended as representations on which the Redeveloper may rely. Public Redevelopment
Costs exceeding the principal amount of the Note are the sole responsibility of Redeveloper.
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Section 3.5. Lookback. (a) Generally. The financial assistance to the Redeveloper under
this Agreement is based on certain assumptions regarding likely costs and expenses associated
with constructing the Minimum Improvements on the Redevelopment Property. The Authority
and the Redeveloper agree that those assumptions will be reviewed at the times described in this
Section, and that the amount of the tax increment assistance provided under Section 3.4 will be
adjusted accordingly.
(b) Repayment of Assistance. (i) Within 60 days of issuance of the Certificate of
Completion and the Redeveloper achieving 95% leasing of the net commercial office space on the
Redevelopment Property; or (ii) within 60 days after any Transfer of the Redevelopment Property
(excluding any Transfer to an Affiliate) which is approved by the Authority as required by
Article VIII and which occurs within five years after the date of issuance of the Certificate of
Completion for the Minimum Improvements ((i) and (ii) are each a “Triggering Event”),
whichever Triggering Event occurs first,, the Redeveloper must deliver to the Authority evidence
of its annualized cash on cash return from the Redevelopment Property and Minimum
Improvements (the “IRR”), calculated as of the respective applicable Triggering Event. The IRR
shall be calculated with equity, revenues and expenses all determined in accordance with
generally accepted accounting principles, provided that the amount of Redeveloper’s equity must
exclude the principal amount of the Note disbursed to the date of the Triggering Event. The
Redeveloper agrees to provide to the Authority’s consultant any background documentation
related to the financial data, upon request. The Authority may request a written certificate of a
certified public accountant regarding total redevelopment costs and revenues, to be provided at
Redeveloper’s expense.
(c) The amount by which the IRR exceeds ten percent (12%) is a percentage referred
to as “Excess Percentage.” The Excess Percentage, multiplied by Redeveloper’s equity (as
calculated for purposes of determining the IRR), is the “Participation Amount”. The
Redeveloper must pay 50 percent (50%) of the Participation Amount to the Authority upon the
occurrence of the Triggering Event (the Redeveloper Repayment”). The Redeveloper
Repayment shall be deducted from any remaining payments then due on the Note, but the
Redeveloper shall be responsible for the full amount of the Redeveloper Repayment. An
example of the calculation of the Redeveloper Repayment is shown at Schedule F.
Section 3.6. Payment of Administrative Costs. Upon execution of this Agreement, the
Redeveloper will pay the Authority $2,000 as a TIF Application Fee. In addition, until the Maturity
Date, the Redeveloper is responsible to pay all reasonable out of pocket costs for legal and financial
advising services incurred by the Authority that are attributable to or incurred in connection with the
negotiation and preparation of this Agreement and other documents and agreements in connection
with the development contemplated hereunder (collectively, “Administrative Costs”).
Administrative Costs shall be evidenced by invoices, statements or other reasonable written
evidence of the costs incurred by the Authority, copies of which will be provided to the Redeveloper
upon request. Upon termination of this Agreement in accordance with its terms, Redeveloper
remains obligated to pay Administrative Costs incurred as of the effective date of termination.
Section 3.7. Business Subsidy Provisions. (a) The Redeveloper warrants and represents
that the Redeveloper’s investment in the purchase of the Redevelopment Property together with
Redeveloper’s investment in site preparation on such property (net of any portion of such costs
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reimbursed through issuance of the Note) will equal at least 70% of the County assessor’s
estimated market value of the Redevelopment Property for the 2008 assessment year, calculated
as follows:
Aggregate Purchase price of Redevelopment Property $630,000
Date of purchase of each Parcel: February 15, 2008
Equals land cost $630,000
Less land acquisition costs reimbursed by the Note $400,000
Equals net land cost $230,000
2008 Assessor's estimated market value
of Redevelopment Property
$255,000
$230,000 (net acquisition cost) is 90% of $255,000 (assessor's current estimated fair
market value of the Redevelopment Property).
Accordingly, the parties agree and understand that the financial assistance through issuance of
the Note described in this Agreement does not constitute a business subsidy within the meaning
of the Business Subsidy Act by operation of Section 116J.993, Subdivision 3, clause (17). The
Redeveloper releases and waives any claim against the City and its governing body members,
officers, agents, servants and employees thereof arising from application of the Business Subsidy
Act to this Agreement, including without limitation any claim that the City failed to comply with
the Business Subsidy Act with respect to this Agreement.
(b) The parties further agree and understand that the assistance provided to
Redeveloper in this Agreement through the grant proceeds does not constitute a business subsidy
under the Business Subsidy Act, because the grants represent assistance that is exempt from the
Business Subsidy Act under Sections 116J.993, Subdivision 3, clauses (4) and (8).
(c) Redeveloper acknowledges that under Section 116J.993, subdivision 7(c) of the
Business Subsidy Act, the Redeveloper is nevertheless required to file annual reports containing the
information described in Section 4.6 hereof. The Redeveloper must submit such reports at the times
required under Section 4.6. If the Redeveloper fails to timely file any required report, the Authority
will mail the Redeveloper a warning within one week after the required filing date. If, after 14 days
of the postmarked date of the warning, the Redeveloper fails to provide a report, the Redeveloper
must pay to the Authority a penalty of $100 for each subsequent day until the report is filed. The
maximum aggregate penalty payable under this Section $1,000.
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ARTICLE IV
Construction of Minimum Improvements,
Section 4.1. Construction of Minimum Improvements. The Redeveloper agrees that if it
completes the acquisition of the Redevelopment Property, the Redeveloper will construct or cause
to be constructed the Minimum Improvements on the Redevelopment Property in accordance with
the approved Construction Plans and will, subject to and pursuant to the terms of this Agreement, at
all times prior to the Maturity Date operate and maintain, preserve and keep the Minimum
Improvements or cause such improvements to be maintained, preserved and kept with the
appurtenances and every part and parcel thereof, in good repair and condition, except as otherwise
provided herein. The Authority shall have no obligation to operate or maintain the Minimum
Improvements.
Section 4.2. Site Plan and Construction Plans. (a) Construction Plans. Before
commencement of construction of the Minimum Improvements, the Redeveloper shall submit to the
Authority Construction Plans. The Construction Plans shall provide for the construction of the
relevant improvements and shall be in material conformity with the Redevelopment Plan, this
Agreement, and all applicable State and local laws and regulations. The Authority Representative
will approve the Construction Plans in writing if: (i) the Construction Plans materially conform to
the terms and conditions of this Agreement; (ii) the Construction Plans materially conform to the
goals and objectives of the Redevelopment Plan; (iii) the Construction Plans conform to all
applicable federal, state and local laws, ordinances, rules and regulations; (iv) the Construction
Plans are adequate to provide for construction of the Minimum Improvements; and (v) no Event of
Default has occurred. Approval may be based upon a review by the Authority’s Building Official
of the Construction Plans and shall be conclusive evidence that Redeveloper has satisfied its
obligations under this Section. No approval by the Authority Representative shall relieve the
Redeveloper of the obligation to comply with the terms of this Agreement or of the Redevelopment
Plan, applicable federal, state and local laws, ordinances, rules and regulations, or to construct the
Minimum Improvements in accordance therewith. No approval by the Authority Representative
shall constitute a waiver of an Event of Default. If approval of the Construction Plans is requested
by the Redeveloper in writing at the time of submission, such Construction Plans shall be deemed
approved unless rejected in writing by the Authority Representative, in whole or in part. Such
rejections shall set forth in detail the reasons therefore, and shall be made within 30 days after the
date of their receipt by the Authority. If the Authority Representative rejects any Construction Plans
in whole or in part, the Redeveloper shall submit new or corrected Construction Plans within 30
days after written notification to the Redeveloper of the rejection. The provisions of this Section
relating to approval, rejection and resubmission of corrected Construction Plans shall continue to
apply until the Construction Plans have been approved by the Authority. The Authority
Representative’s approval shall not be unreasonably withheld, delayed or conditioned. Said
approval shall constitute a conclusive determination that the Construction Plans (and the Minimum
Improvements constructed in accordance with said plans) comply to the Authority’s satisfaction
with the provisions of this Agreement relating thereto.
(b) If the Redeveloper desires to make any material change in the Construction Plans
after their approval by the Authority, the Redeveloper shall submit the proposed change to the
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Authority for its approval. If the Construction Plans, as modified by the proposed change,
conform to the requirements of this Section 4.2 of this Agreement and do not materially reduce
the market value of the Minimum Improvements, the Authority shall approve the proposed
change and notify the Redeveloper in writing of its approval. Such change in the Construction
Plans shall, in any event, be deemed approved by the Authority unless rejected, in whole or in
part, by written notice by the Authority to the Redeveloper, setting forth in detail the reasons
therefor. Such rejection shall be made within 30 days after receipt of the notice of such change.
The Authority’s approval of the Construction Plans and any such change in the Construction
Plans will not be unreasonably withheld.
Section 4.3. Commencement and Completion of Construction. (a) Minimum
Improvements. Subject to Unavoidable Delays, the Redeveloper shall commence construction of
the Minimum Improvements by July 1, 2008, and shall complete construction of the Minimum
Improvements, with the specified minimum market values as set forth in the related Assessment
Agreement, by December 31, 2008.
(b) General Requirements. All work with respect to the Minimum Improvements to
be constructed or provided by the Redeveloper on the Redevelopment Property shall be in
conformity with the Construction Plans as submitted by the Redeveloper and approved by the
Authority. The Redeveloper agrees for itself, its successors and assigns, and every successor in
interest to the Redevelopment Property, or any part thereof, that the Redeveloper, and such
successors and assigns, shall promptly begin and diligently proceed to completion the
development of the Redevelopment Property through the construction of the Minimum
Improvements thereon, and that such construction shall in any event, subject to Unavoidable
Delays, be commenced and completed within the period specified in this Section 4.3 of this
Agreement. After the date of this Agreement and until construction of the Minimum
Improvements has been completed, the Redeveloper shall make reports, in such detail and at
such times as may reasonably be requested by the Authority, as to the actual progress of the
Redeveloper with respect to such construction.
Section 4.4. Certificate of Completion. (a) Promptly after completion of the Minimum
Improvements in accordance with those provisions of the Agreement relating solely to the
obligations of the Redeveloper to construct the Minimum Improvements (including the dates for
beginning and completion thereof), the Authority Representative will furnish the Redeveloper with
a Certificate shown as Schedule G. Such certification and such determination shall not constitute
evidence of compliance with or satisfaction of any obligation of the Redeveloper to any Holder of a
Mortgage, or any insurer of a Mortgage, securing money loaned to finance the Minimum
Improvements or any part thereof.
(b) If the Authority Representative shall refuse or fail to provide any certification in
accordance with the provisions of this Section 4.4 of this Agreement, the Authority Representative
shall, within fifteen (15) business days after written request by the Redeveloper, provide the
Redeveloper with a written statement, indicating in adequate detail in what respects the Redeveloper
has failed to commence or complete the Minimum Improvements, as the case may be, in
accordance with the provisions of the Agreement, or is otherwise in default, and what measures or
acts will be necessary, in the opinion of the Authority, for the Redeveloper to take or perform in
order to obtain such certification.
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Section 4.5. Billboards. The Redeveloper will cause the removal of the two existing
billboards from the Redevelopment Property by giving the required 30 day notice of termination
of lease to the billboard owner and removing the billboards promptly upon the expiration of the
notice period, but under no circumstances will the billboards remain on the Redevelopment
Property after July 1, 2008.
Section 4.6. Records. The Authority, the County, the Met Council, DEED, the
Legislative Auditor and the State Auditor’s office, through any authorized representatives, shall
have the right after reasonable notice to inspect, examine and copy all books and records of
Redeveloper relating to the Grant-Eligible Costs, Public Redevelopment Costs and the Minimum
Improvements. Redeveloper shall also use best efforts to cause the contractor or contractors, all
sub-contractors and their agents and lenders to make their books and records relating to such costs
to the Authority, upon reasonable notice, for inspection, examination and audit. Redeveloper shall
maintain such records and provide such rights of inspection for a period of six years after issuance
of the Certificate of Completion for the Minimum Improvements.
Section 4.7. Reports. The Redeveloper must submit to the Authority a written report by
no later than March 1 of each year, commencing March 1, 2009 and continuing until four years after
the date of issuance of the Certificate of Completion for the Minimum Improvements. The report
must comply with the DEED Grant Agreement, the Met Council Grant Agreement and the County
Grant Agreement, and must contain at least the following items as of each reporting date:
(1) a statement describing all assistance provided to date under this Agreement,
including the type and public purpose, and a statement that the Note is payable with Tax
Increment from a redevelopment district.
(2) progress toward completion of the Grant-Eligible Costs, the Public
Redevelopment Costs and the Minimum Improvements during the previous calendar year;
(3) evidence of the net tax capacity of the Redevelopment Property and
improvements thereon for the current tax-payable year;
(4) the number of part-time and full-time jobs created on the Redevelopment
Property as of the end of the previous calendar year, and the hourly wage of each job
created;
(5) the percentage of new jobs, and the sum of hourly wages and cost of health
insurance provided by the employer, in the following hourly rate categories:
Less than $8.49
Between $8.50 and $10.49
Between $10.50 and $12.50;
More than $12.50
(6) a statement regarding Redeveloper’s location prior to the date of this
Agreement; and
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(7) any other information requested by DEED, the Met Council or the County.
The Authority will provide information to the Redeveloper regarding the required forms.
Section 4.8. Acknowledgements. During work on the Minimum Improvements,
Redeveloper must post a sign on the site containing the following or similar language:
This project was financed in part through the St. Louis Park Economic Development
Authority, with grant funds provided by the Metropolitan Council Livable Communities
Fund, and by grants from the Minnesota Department of Employment and Economic
Development and Hennepin County.
Section 4.9. Contract Requirements. (a) Redeveloper shall undertake all work related to
the Grant-Eligible Costs and the Minimum Improvements in compliance with the DEED Grant
Agreement, the Met Council Grant Agreement, and the County Grant Agreement and all applicable
federal and state laws, including without limitation all applicable state and federal Occupational
Safety and Health Act regulations, especially the federal Hazardous Waste Operations and
Emergency Response standards under 29 C.F.R. sections 1910.120 and 1926.65. Any
subcontractors retained by Redeveloper shall be subject to the requirements of this Section, which
shall be included in any subcontracts between the Redeveloper and subcontractor.
(b) In accordance with and to the extent required by Minn. Stat., Section 116J.871, the
Redeveloper shall, before commencing work on any Grant-Eligible Costs, certify to the Authority
and the Minnesota Commissioner of Labor and Industry that all applicable laborers and mechanics
engaged to undertake the Grant-Eligible Costs on the Redevelopment Property are paid the
prevailing wage rate. The term “prevailing wage rate” means the hourly basic rate of pay plus the
contribution for health and welfare benefits, vacation benefits, pension benefits, and any other
economic benefit paid to the largest number of workers engaged in the same class of labor within
the Minneapolis-St. Paul metropolitan area, and may not be less than a reasonable and living wage.
Meeting of March 24, 2008 (Item No. 9)
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ARTICLE V
Insurance
Section 5.1. Insurance. (a) The Redeveloper or its contractor will provide and maintain at
all times during the process of constructing the Minimum Improvements an All Risk Broad Form
Basis Insurance Policy and, from time to time during that period, at the request of the Authority,
furnish the Authority with proof of payment of premiums on policies covering the following:
(i) Builder’s risk insurance, written on the so-called “Builder’s Risk --
Completed Value Basis,” in an amount equal to one hundred percent (100%) of the
insurable value of the Minimum Improvements at the date of completion, and with
coverage available in nonreporting form on the so-called “all risk” form of policy. The
interest of the Authority shall be protected in accordance with a clause in form and
content satisfactory to the Authority;
(ii) Comprehensive general liability insurance (including operations, contingent
liability, operations of subcontractors, completed operations and contractual liability
insurance) together with an Owner’s Protective Liability Policy or equivalent, with limits
against bodily injury and property damage of not less than $1,000,000 for each occurrence
(to accomplish the above-required limits, an umbrella excess liability policy may be used);
and
(iii) Workers’ compensation insurance, with statutory coverage.
(b) Upon completion of construction of the Minimum Improvements and prior to the
Maturity Date, the Redeveloper shall maintain, or cause to be maintained, at its cost and expense,
and from time to time at the request of the Authority shall furnish proof of the payment of premiums
on, insurance as follows:
(i) Insurance against loss and/or damage to the Minimum Improvements under
a policy or policies covering such risks as are ordinarily insured against by similar
businesses.
(ii) Commercial general public liability insurance, including personal injury
liability (with employee exclusion deleted), against liability for injuries to persons and/or
property, in the minimum amount for each occurrence and for each year of $1,000,000.
(iii) Such other insurance, including workers’ compensation insurance respecting
all employees of the Redeveloper, in such amount as is customarily carried by like
organizations engaged in like activities of comparable size and liability exposure; provided
that the Redeveloper or its tenant may be self-insured with respect to all or any part of its
liability for workers’ compensation.
(c) All insurance required in Article V of this Agreement shall be taken out and
maintained in responsible insurance companies selected by the Redeveloper or its tenant which are
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authorized under the laws of the State to assume the risks covered thereby. Upon request, the
Redeveloper will deposit annually with the Authority policies evidencing all such insurance, or a
certificate or certificates or binders of the respective insurers stating that such insurance is in force
and effect. Unless otherwise provided in this Article V of this Agreement each policy shall contain
a provision that the insurer shall not cancel nor modify it in such a way as to reduce the coverage
provided below the amounts required herein without giving written notice to the Redeveloper and
the Authority at least thirty (30) days before the cancellation or modification becomes effective. In
lieu of separate policies, the Redeveloper or its tenant may maintain a single policy, blanket or
umbrella policies, or a combination thereof, having the coverage required herein, in which event the
Redeveloper shall deposit with the Authority a certificate or certificates of the respective insurers as
to the amount of coverage in force upon the Minimum Improvements.
(d) Subsequent to issuance of the Certificate of Completion, the Redeveloper shall
immediately notify the Authority in the case of damage exceeding $100,000 in amount to, or
destruction of, the Minimum Improvements or any portion thereof resulting from fire or other
casualty.
i. In such event the Redeveloper shall forthwith repair, reconstruct and restore
the Minimum Improvements to substantially the same or an improved condition or value as it
existed prior to the event causing such damage and, to the extent necessary to accomplish such
repair, reconstruction and restoration, the Redeveloper will apply the Net Proceeds of any insurance
relating to such damage received by the Redeveloper to the payment or reimbursement of the costs
thereof.
ii. The Redeveloper shall complete the repair, reconstruction and restoration of
the Minimum Improvements, whether or not the Net Proceeds of insurance received by the
Redeveloper for such purposes are sufficient to pay for the same. Any Net Proceeds remaining after
completion of such repairs, construction and restoration shall be the property of the Redeveloper.
iii. Upon the failure of the Redeveloper to timely complete the reconstruction of
the Minimum Improvements subsequent to the issuance of the Certificate of Completion, the
Authority may elect, in addition to any other remedy under this Agreement, to suspend any payment
under the Note until the reconstruction is commenced and completed to the satisfaction of the
Authority.
(e) The Redeveloper and the Authority agree that all of the insurance provisions set
forth in this Article V shall terminate upon the Maturity Date.
Section 5.2. Subordination. Notwithstanding anything to the contrary contained in this
Article V, the rights of the Authority with respect to the receipt and application of any proceeds of
insurance shall, in all respects, be subject and subordinate to the rights of any lender under a
Mortgage approved pursuant to Article VII of this Agreement.
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ARTICLE VI
Taxes; Assessment Agreements
Section 6.1. Right to Collect Delinquent Taxes. The Redeveloper acknowledges that the
Authority is providing substantial aid and assistance in furtherance of the redevelopment described
in this agreement through issuance of the Note. To that end, until the Maturity Date, the
Redeveloper agrees for itself, its successors and assigns, in addition to the obligation pursuant to
statute to pay real estate taxes, that it is also obligated by reason of this Agreement to pay before
delinquency all real estate taxes assessed against the Redevelopment Property and the Minimum
Improvements. The Redeveloper acknowledges that this obligation creates a contractual right on
behalf of the Authority to sue the Redeveloper or its successors and assigns to collect delinquent
real estate taxes and any penalty or interest thereon and to pay over the same as a tax payment to the
county auditor. In any such suit, the Authority shall also be entitled to recover its costs, expenses
and reasonable attorney fees. The parties agree and understand that upon a permitted Transfer
under Section 8.3, any transferee assumes the obligation under this Section as to the property
transferred, and the original Redeveloper is released.
Section 6.2. Reduction of Taxes. The Redeveloper agrees that prior to completion of the
Minimum Improvements, it will not cause a reduction in the real property taxes paid in respect of
the Redevelopment Property through: (A) willful destruction of the Minimum Improvements or any
part thereof; (B) willful refusal to reconstruct damaged or destroyed property, except to the extent
otherwise provided in Section 5.1(e); (C) subject to Section 6.3, apply for a deferral or abatement of
property tax on the Redevelopment Property pursuant to any law; or (D) convey or transfer or allow
conveyance or transfer of the Redevelopment Property to any entity whose ownership or operation
of the property would result in the Redevelopment Property being exempt from real estate taxes
under State law.
Section 6.3. Assessment Agreements. (a) Before issuance of the Note under Section 3.4
hereof, the Redeveloper shall, with the Authority, execute an Assessment Agreement pursuant to
Minnesota Statutes, Section 469.177, subd. 8, specifying an assessor’s minimum market value for
the Minimum Improvements together with the Parcel on which they are constructed. The amount of
minimum market value will be $900,000 as of January 2, 2009. The Assessment Agreement will
terminate upon the Maturity Date.
(b) The Assessment Agreement shall be substantially in the form attached hereto as
Schedule H. Nothing in the Assessment Agreement shall limit the discretion of the assessor to
assign a market value to the property in excess of such assessor’s minimum market value nor
prohibit the Redeveloper from seeking through the exercise of legal or administrative remedies a
reduction in such market value for property tax purposes, provided however, that the Redeveloper
shall not seek a reduction of such market value below the assessor’s minimum market value in any
applicable year so long as such Assessment Agreement shall remain in effect.
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ARTICLE VII
Financing
Section 7.1. Redeveloper Financing. (a) Before commencement of construction of the
Minimum Improvements, Redeveloper shall submit to the Authority evidence of one or more
commitments for financing which, together with committed equity, is sufficient for the acquisition
of the Redevelopment Property and construction of the Minimum Improvements. Such
commitments may be submitted as short term financing, long term mortgage financing, a bridge
loan with a long term takeout financing commitment, or any combination of the foregoing.
(b) If the Authority finds that the financing is sufficiently committed and adequate in
amount to provide for the undertakings described in paragraph (a), then the Authority shall notify
the Redeveloper in writing of its approval. Such approval shall not be unreasonably withheld
and either approval or rejection shall be given within ten (10) days from the date when the
Authority is provided the evidence of financing. A failure by the Authority to respond to such
evidence of financing shall be deemed to constitute an approval hereunder. If the Authority
rejects the evidence of financing as inadequate, it shall do so in writing specifying the basis for
the rejection. In any event the Redeveloper shall submit adequate evidence of financing within
ten (10) days after such rejection.
(c) In the event that there occurs a default under any Mortgage, the Redeveloper shall
promptly provide to the Authority copies of any notice of default received by the Redeveloper
from the holder of such Mortgage. Redeveloper will include in any Mortgage documents a
provision giving the Authority the right, but not the obligation, to cure any such default on behalf
of the Redeveloper within such cure periods as are available to the Redeveloper under the
Mortgage documents. In the event there is an event of default under this Agreement, the
Authority will transmit to the Holder of any Mortgage a copy of any notice of default given by
the Authority pursuant to Article IX of this Agreement.
Section 7.2. Subordination. In order to facilitate the Redeveloper obtaining financing for
the development of the Minimum Improvements, the Authority agrees to subordinate its rights
under this Agreement to the Holder of any Mortgage, provided that (i) such subordination shall be
subject to such reasonable terms and conditions as the Authority and Holder of a Mortgage mutually
agree in writing; (ii) any subordination agreement must include the provision described in Section
7.1(c), and (iii) the Authority will not subordinate the Authority’s rights under any Assessment
Agreement.
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ARTICLE VIII
Prohibitions Against Assignment and Transfer; Indemnification
Section 8.1. Representation as to Redevelopment. The Redeveloper represents and agrees
that its purchase of the Redevelopment Property or portions thereof, and its other undertakings
pursuant to the Agreement, are, and will be used, for the purpose of redevelopment of the
Redevelopment Property and not for speculation in land holding.
Section 8.2. Prohibition Against Redeveloper’s Transfer of Property and Assignment of
Agreement. The Redeveloper represents and agrees that until issuance of the Certificate of
Completion for the Minimum Improvements:
(a) Except as specifically described in this Agreement, the Redeveloper has not made or
created and will not make or create or suffer to be made or created any total or partial sale,
assignment, conveyance, or lease, or any trust or power, or transfer in any other mode or form of or
with respect to this Agreement or the Redevelopment Property, or any contract or agreement to do
any of the same, to any person or entity (collectively, a “Transfer”), without the prior written
approval of the Authority. The term “Transfer” does not include (i) encumbrances made or granted
by way of security for, and only for, the purpose of obtaining construction, interim or permanent
financing necessary to enable the Redeveloper or any successor in interest to the Redevelopment
Property or to construct the Minimum Improvements, (ii) any lease, license, easement or similar
arrangement entered into in the ordinary course of business related to operation of the Minimum
Improvements, (iii) any sale, conveyance, or transfer in any form to any Affiliate, or (iv) any change
in ownership of the Redeveloper so long as the identity of the parties in control of Redeveloper do
not change. Any such transfer shall be subject to the provisions of this Section.
(b) If the Redeveloper seeks to effect a Transfer, the Authority shall be entitled to
require as conditions to such Transfer that:
(1) Any proposed transferee shall have the qualifications and financial
responsibility, in the reasonable judgment of the Authority, necessary and adequate to fulfill
the obligations undertaken in this Agreement by the Redeveloper as to the portion of the
Redevelopment Property to be transferred; and
(2) Any proposed transferee, by instrument in writing satisfactory to the
Authority and in form recordable in the public land records of Hennepin County,
Minnesota, shall, for itself and its successors and assigns, and expressly for the benefit of
the Authority, have expressly assumed all of the obligations of the Redeveloper under
this Agreement as to the portion of the Redevelopment Property to be transferred and
agreed to be subject to all the conditions and restrictions to which the Redeveloper is
subject as to such portion; provided, however, that the fact that any transferee of, or any
other successor in interest whatsoever to, the Redevelopment Property, or any part
thereof, has not, for whatever reason, assumed such obligations or so agreed, shall not
(unless and only to the extent otherwise specifically provided in this Agreement or agreed
to in writing by the Authority) deprive the Authority of any rights or remedies or controls
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with respect to the Redevelopment Property, the Minimum Improvements, or any part
thereof or the construction of the Minimum Improvements; it being the intent of the
parties as expressed in this Agreement that (to the fullest extent permitted at law and in
equity and excepting only in the manner and to the extent specifically provided otherwise
in this Agreement) no transfer of, or change with respect to, ownership in the
Redevelopment Property or any part thereof, or any interest therein, however
consummated or occurring, and whether voluntary or involuntary, shall operate, legally,
or practically, to deprive or limit the Authority of or with respect to any rights or
remedies on controls provided in or resulting from this Agreement with respect to the
Redevelopment Property that the Authority would have had, had there been no such
transfer or change. In the absence of specific written agreement by the Authority to the
contrary, no such transfer or approval by the Authority thereof shall be deemed to relieve
the Redeveloper, or any other party bound in any way by this Agreement or otherwise
with respect to the Redevelopment Property, from any of its obligations with respect
thereto.
(3) Any and all instruments and other legal documents involved in effecting
the transfer of any interest in this Agreement or the Redevelopment Property governed by
this Article VIII, shall be in a form reasonably satisfactory to the Authority.
(c) If the conditions described in paragraph (b) are satisfied, then the Transfer will be
approved and the Redeveloper shall be released from its obligation under this Agreement, as to
the portion of the Redevelopment Property that is transferred, assigned, or otherwise conveyed,
unless the parties mutually agree otherwise. The Authority will review and respond to a request
for Transfer within 30 days after receipt of a written request. Notwithstanding anything to the
contrary herein, any Transfer that releases the Redeveloper from its obligations under this
Agreement (or any portion thereof) shall be approved by the Authority’s Board of
Commissioners. If the Redeveloper remains fully bound under this Agreement notwithstanding
the Transfer, as documented in the transfer instrument, the Transfer may be approved by the
Authority Representative. The provisions of this paragraph (c) apply to all subsequent
transferors.
(d) Subsequent to completion of the Minimum Improvements and prior to the
Maturity Date, the Redeveloper shall be entitled to transfer its interest in the Redevelopment
Property, or any portion thereof, if the Redeveloper notifies the Authority of the transfer, the
transferee assumes the Redeveloper’s obligations under this Agreement accruing subsequent to
transfer, and the Authority is furnished with copies of the documents effecting the transfer.
Section 8.3. Release and Indemnification Covenants. (a) Except for any willful or wanton
misconduct or negligence of the following named parties, the Redeveloper releases from and
covenants and agrees that the Authority and the governing body members, officers, agents, servants
and employees thereof shall not be liable for and agrees to indemnify and hold harmless the
Authority and the governing body members, officers, agents, servants and employees thereof
against any loss or damage to property or any injury to or death of any person occurring at or about
or resulting from any defect in the Minimum Improvements.
(b) Except for any misrepresentation or any willful or wanton misconduct or
negligence of the following named parties, the Redeveloper agrees to protect and defend the
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328776v2 MNI SA285-88 24
Authority and the governing body members, officers, agents, servants and employees thereof, now
or forever, and further agrees to hold the aforesaid harmless from any claim, demand, suit, action or
other proceeding whatsoever arising or allegedly arising from this Agreement, or the transactions
contemplated hereby or the acquisition, construction, installation, ownership, and operation of the
Minimum Improvements.
(c) Except as otherwise provided in this Agreement (and subject to Authority’s
express obligations to provide indemnification under Section 3.5(d) hereof), the Authority and the
governing body members, officers, agents, servants and employees thereof shall not be liable for
any damage or injury to the property of the Redeveloper or its officers, agents, servants or
employees or any other person who may be about the Redevelopment Property or Minimum
Improvements due to any act of negligence of any person.
(d) All covenants, stipulations, promises, agreements and obligations of the
Authority contained herein shall be deemed to be the covenants, stipulations, promises, agreements
and obligations of the Authority and not of any governing body member, officer, agent, servant or
employee of the Authority in the individual capacity thereof.
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ARTICLE IX
Events of Default
Section 9.1. Events of Default Defined. The following shall be “Events of Default” under
this Agreement and the term “Event of Default” shall mean, whenever it is used in this Agreement
(unless the context otherwise provides):
(a) Failure by the Redeveloper or Authority to observe or perform any covenant,
condition, obligation, or agreement on its part to be observed or performed under this Agreement.
(b) If, before issuance of the Certificate of Completion for all the Minimum
Improvements, the Redeveloper shall
(i) file any petition in bankruptcy or for any reorganization, arrangement,
composition, readjustment, liquidation, dissolution, or similar relief under the United States
Bankruptcy Act or under any similar federal or State law; or
(ii) make an assignment for benefit of its creditors; or
(iii) admit in writing its inability to pay its debts generally as they become due; or
(iv) be adjudicated a bankrupt or insolvent.
Section 9.2. Remedies on Default. Whenever any Event of Default referred to in Section
9.1 of this Agreement occurs, the non-defaulting party may exercise its rights under this Section 9.2
only after providing thirty days written notice to the defaulting party of the Event of Default, but
only if the Event of Default has not been cured within said thirty days or, if the Event of Default is
by its nature not reasonably curable within thirty days, the defaulting party does not provide
assurances reasonably satisfactory to the non-defaulting party that the Event of Default will be cured
and will be cured as soon as reasonably practicable:
(a) Suspend its performance under the Agreement until it receives assurances that the
defaulting party will cure its default and continue its performance under the Agreement.
(b) Upon an Event of Default by the Redeveloper, the Authority may withhold
payments under the Note in accordance with its terms, which withheld amount is payable, without
interest thereon, on the first payment date after the default is cured.
(c) Upon an Event of Default by the Redeveloper, cancel and rescind or terminate the
Agreement.
(d) Take whatever action, including legal, equitable or administrative action, which may
appear necessary or desirable to collect any payments due under this Agreement, or to enforce
performance and observance of any obligation, agreement, or covenant under this Agreement.
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Section 9.3. No Remedy Exclusive. No remedy herein conferred upon or reserved to the
Authority or Redeveloper is intended to be exclusive of any other available remedy or remedies,
but each and every such remedy shall be cumulative and shall be in addition to every other
remedy given under this Agreement or now or hereafter existing at law or in equity or by statute.
No delay or omission to exercise any right or power accruing upon any default shall impair any
such right or power or shall be construed to be a waiver thereof, but any such right and power
may be exercised from time to time and as often as may be deemed expedient. In order to entitle
the Authority to exercise any remedy reserved to it, it shall not be necessary to give notice, other
than such notice as may be required in this Article IX.
Section 9.4. No Additional Waiver Implied by One Waiver. In the event any agreement
contained in this Agreement should be breached by either party and thereafter waived by the
other party, such waiver shall be limited to the particular breach so waived and shall not be
deemed to waive any other concurrent, previous or subsequent breach hereunder.
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328776v2 MNI SA285-88 27
ARTICLE X
Additional Provisions
Section 10.1. Conflict of Interests; Authority Representatives Not Individually Liable. The
Authority and the Redeveloper, to the best of their respective knowledge, represent and agree that
no member, official, or employee of the Authority shall have any personal interest, direct or
indirect, in the Agreement, nor shall any such member, official, or employee participate in any
decision relating to the Agreement which affects his personal interests or the interests of any
corporation, partnership, or association in which he is, directly or indirectly, interested. No
member, official, or employee of the Authority shall be personally liable to the Redeveloper, or any
successor in interest, in the event of any default or breach by the Authority or County or for any
amount which may become due to the Redeveloper or successor or on any obligations under the
terms of the Agreement.
Section 10.2. Equal Employment Opportunity. The Redeveloper, for itself and its
successors and assigns, agrees that during the construction of the Minimum Improvements provided
for in the Agreement it will comply with all applicable federal, state and local equal employment
and non-discrimination laws and regulations.
Section 10.3. Restrictions on Use. The Redeveloper agrees that subject to the other
provisions herein until the Maturity Date, the Redeveloper, and such successors and assigns, shall
devote the Redevelopment Property to the operation of the Minimum Improvements as described in
Section 4.1 hereof, provided that in no event will any portion of the Redevelopment Property be
used for a sexually-oriented business as defined in City Code, Section 14:5-3(28), a pawnshop, a
check-cashing business, a tattoo business; or a gun business. Redeveloper shall not discriminate
upon the basis of race, color, creed, sex or national origin in the sale, lease, or rental or in the use or
occupancy of the Redevelopment Property or any improvements erected or to be erected thereon, or
any part thereof.
Section 10.4. Titles of Articles and Sections. Any titles of the several parts, Articles, and
Sections of the Agreement are inserted for convenience of reference only and shall be disregarded in
construing or interpreting any of its provisions.
Section 10.5. Notices and Demands. Except as otherwise expressly provided in this
Agreement, a notice, demand, or other communication under the Agreement by either party to the
other shall be sufficiently given or delivered if it is dispatched by registered or certified mail,
postage prepaid, return receipt requested, or delivered personally; and
(a) in the case of the Redeveloper, is addressed to or delivered personally to the
Redeveloper, 90 S. 7th Street, Suite 4500, Minneapolis, MN 55402; and
(b) in the case of the Authority, is addressed to or delivered personally to the Authority
at 5005 Minnetonka Boulevard, St. Louis Park, Minnesota 55416, Attn: Executive Director; or
at such other address with respect to either such party as that party may, from time to time,
designate in writing and forward to the other as provided in this Section.
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Section 10.6. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall constitute one and the same instrument.
Section 10.7. Recording. The Authority may record this Agreement and any amendments
thereto with the Hennepin County recorder. The Redeveloper shall pay all costs for recording.
Section 10.8. Minnesota Law. This Agreement will be construed in accordance with the
laws of the State, and any claim arising from this Agreement will be adjudicated in the State.
Section 10.9. Disclaimer of Relationships. The Redeveloper acknowledges that nothing
contained in this Agreement nor any act by the Authority or the Redeveloper shall be deemed or
construed by the Redeveloper or by any third person to create any relationship of third-party
beneficiary, principal and agent, limited or general partner, or joint venture between the Authority
and the Redeveloper.
Section 10.10. Modifications. This Agreement may be modified solely through written
amendments hereto executed by the Redeveloper and the Authority.
Section 10.11. Approvals. Unless otherwise specified, any approval required by the
Authority under this Agreement may be given by the Authority Representative.
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328776v2 MNI SA285-88
S-1
IN WITNESS WHEREOF, the Authority has caused this Agreement to be duly executed
in its name and behalf and its seal to be hereunto duly affixed and the Redeveloper has caused
this Agreement to be duly executed in its name and behalf as of the date first above written.
ST. LOUIS PARK ECONOMIC DEVELOPMENT
AUTHORITY
By
Its President
By
Executive Director
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this ____ day of ________, 2008 by
__________________ and ______________________, the President and Executive Director,
respectively, of the Economic Development Authority of St. Louis Park, Minnesota, on behalf of
the Authority.
Notary Public
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LAKE STREET OFFICE CENTER LLC
By
Its
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this _____ day of _______, 2008 by
______________________, the ______________________ of Lake Street Office Center LLC, a
Minnesota limited liability company, on behalf of the company.
Notary Public
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SCHEDULE A
LEGAL DESCRIPTION OF REDEVELOPMENT PROPERTY
Tracts A and B, Registered Land Survey No. 554, Hennepin County, Minnesota.
Torrens Certificate No. 1200989 (Tract A)
Torrens Certificate No. 1200990 (Tract B)
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SCHEDULE B
SITE PLAN
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C-1
SCHEDULE C
Grant Eligible Costs
Sources:
County Grant $103,000
DEED Grant 118,000
Met Council Grant 100,000
________
TOTAL SOURCES $321,000
Uses:
Remedial Investigation/RAP Development $51,000
Soils 212,000
MPCA Oversight/Implementation Report 23,000
Restricted Wastes, Cess Pools 30,000
_________
TOTAL USES $321,000
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328776v2 MNI SA285-88 D-1
SCHEDULE D
DRAW REQUEST
TO: St. Louis Park Economic Development Authority
5005 Minnetonka Boulevard
St. Louis Park, MN 55416
DISBURSEMENT DIRECTION
The undersigned Authorized Representative of Lake Street Office Center LLC, a
Minnesota limited liability company (the “Redeveloper”), hereby authorizes and requests you to
disburse from proceeds of the DEED grant, the County Grant or the Met Council grant, as the
case may be, in accordance with the terms of the Contract for Private Redevelopment by and
between the St. Louis Park Economic Development Authority (“Authority”) and the
Redeveloper, dated as of __________, 2008 (the “Agreement”), the following amount to the
following person and for the following proper Grant-Eligible Costs:
1. Amount:
2. Payee:
3. Purpose:
4. Grant Source (DEED, County or Met Council):
all as defined and provided in the Agreement. The undersigned further certifies to the Authority
that (a) none of the items for which the payment is proposed to be made has formed the basis for
any payment previously made under Section 3.3 of the Agreement (or before the date of the
Agreement); (b) that each item for which the payment is proposed is a Grant-Eligible Cost, eligible
for funding from the grant source(s) identified above; and (c) the Redeveloper reasonably
anticipates completion of the Grant-Eligible Costs and the Minimum Improvements in accordance
with the terms of the Agreement.
Dated: ____________________
______________________________________
Redeveloper’s Authorized Representative
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328776v2 MNI SA285-88 E-1
SCHEDULE E
AUTHORIZING RESOLUTION
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. ______
RESOLUTION AWARDING THE SALE OF, AND
PROVIDING THE FORM, TERMS, COVENANTS AND
DIRECTIONS FOR THE ISSUANCE OF ITS TAX
INCREMENT REVENUE NOTES TO LAKE STREET
OFFICE CENTER LLC
BE IT RESOLVED BY the Board of Commissioners (“Board”) of the St. Louis Park
Economic Development Authority, St. Louis Park, Minnesota (the “Authority”) as follows:
Section 1. Background; Authorization; Award of Sale.
1.01. Background; Authorization. The Authority and the City of St. Louis Park (“City”)
have heretofore approved the establishment of the Victoria Ponds Tax Increment Financing District.
(the “TIF District”) within Redevelopment Project No. 1 (“Project”), and have adopted a tax
increment financing plan for the purpose of financing certain improvements within the Project.
Pursuant to Minnesota Statutes, Section 469.178, within five years after certification of the
TIF District, the Authority is authorized to issue and sell its bonds for the purpose of financing a
portion of the public redevelopment costs of the TIF District. The Authority duly issued and sold its
$760,000 Limited Revenue Tax Increment Note dated November 20, 1996 (the “Prior TIF Note”)
for the purpose of financing a portion of the public redevelopment costs within the TIF District.
In addition, pursuant to Minnesota Statutes, Section 469.1763, so long as valid in-district
obligations remain outstanding, the Authority is authorized to expend 25% of the cumulative total
revenue derived from tax increments within the TIF District on activities outside of the TIF District
but within the Project (“Outside District Expenditures”), and may issue additional obligations for
such purposes. Such bonds may be payable from up to 25% of the revenues derived from the TIF
District and pledged to the payment of the bonds. The Authority hereby finds and determines that it
is in the best interests of the Authority that it issue and sell its Tax Increment Revenue Notes, Series
20__ (the “Note”) for the purpose of financing certain public redevelopment costs of the Project
outside the geographic area of the TIF District.
1.02. Agreement Approved; Issuance, Sale, and Terms of the Note. (a) The Authority
hereby approves the Contract for Private Redevelopment between the Authority and Lake Street
Office Center LLC (the “Agreement”), and authorizes the President and Executive Director to
execute such Agreement in substantially the form on file with City, subject to modifications that
do not alter the substance of the transaction and are approved by such officials, provided that
execution of the Agreement by such officials is conclusive evidence of their approval. All
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capitalized terms in this resolution have the meaning provided in the Agreement unless the
context requires otherwise.
(a) The Note shall be issued in the maximum principal amount of $400,000 to Lake Street
Office Center LLC (the "Owner"), in consideration of certain eligible costs incurred by the Owner
under the Agreement, shall be dated the date of delivery thereof, and shall bear interest from the
date of issue to the earlier of maturity or prepayment, at the rate determined as provided in Section
3.4(a) of the Agreement. The Note is secured solely by Available Tax Increment, as further
described in the form of the Note herein. Authority hereby delegates to the Executive Director the
determination of the date on which the Note is to be delivered, in accordance with the Agreement.
Section 2. Form of Note. The Notes shall be in substantially the following form, with
the blanks to be properly filled in and the principal amount adjusted as of the date of issue:
UNITED STATE OF AMERICA
STATE OF MINNESOTA
COUNTY OF HENNEPIN
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
No. R-1 $___________
TAX INCREMENT REVENUE NOTE
SERIES 200_ ___
Date
Rate of Original Issue
5.74%
The St. Louis Park Economic Development Authority (“Authority”) for value received,
certifies that it is indebted and hereby promises to pay to Highway 7 Business Center LLC or
registered assigns (the "Owner"), the principal sum of $_______________ and to pay interest
thereon at the rate of 5.74% per annum, as and to the extent set forth herein. Unless the context
clearly requires otherwise, capitalized terms in this Note have the meaning provided in the
Contract for Private Redevelopment between the Authority and Owner dated as of _________,
2008 (the “Agreement”).
1. Payments. Principal and interest (“Payments”) shall be paid on August 1, 2008 and
each February 1 and August 1 thereafter to and including February 1, 2013 (“Payment Dates”) in
the amounts set forth in Attachment A hereto (the “Payment Schedule”), payable solely from and to
the extent of the sources set forth in Section 3 hereof. Payments shall be applied first to accrued
interest, and then to unpaid principal. Interest accruing from the date of issue through and including
August 1, 2008 shall be compounded semiannually on February 1 and August 1 of each year and
added to principal.
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Payments are payable by mail to the address of the Owner or such other address as the
Owner may designate upon 30 days written notice to the Authority. Payments on this Note are
payable in any coin or currency of the United States of America which, on the Payment Date, is
legal tender for the payment of public and private debts.
2. Interest. Interest at the rate stated herein shall accrue on the unpaid principal,
commencing on the date of original issue. Interest shall be computed on the basis of a year of 360
days and charged for actual days principal is unpaid.
3. Available Tax Increment. Payments on this Note are payable on each Payment Date
solely from and in the amount of “Available Tax Increment,” which shall mean 100% of the Tax
Increment attributable to the TIF District that is paid to the Authority by Hennepin County in the six
months preceding each Payment Date on the Note and that is authorized for expenditures on
activities outside the TIF District.
Notwithstanding anything to the contrary herein, Available Tax Increment will be paid on any
Payment Date only after payment or provision for payment on such Payment Date of the principal
of and interest on the Authority’s $760,000 Limited Revenue Tax Increment Note dated November
20, 1996 (“Prior TIF Note”).
The Authority shall have no obligation to pay principal of and interest on this Note on each Payment
Date from any source other than Available Tax Increment, and the failure of the Authority to pay
the entire scheduled amount of principal or interest due on any Payment Date as set forth in the
Payment Schedule shall not constitute a default hereunder as long as the Authority pays principal
and interest hereon to the extent of Available Tax Increment. If on any Payment Date there is
available to the Authority insufficient Available Tax Increment to pay the scheduled amount due
on such date, the amount of such deficiency shall be deferred and paid, without interest thereon,
on the next Payment Date on which the Authority has available to it Available Tax Increment in
excess of the amount necessary to pay the scheduled amount due on such subsequent Payment
Date. The Authority shall have no obligation to pay unpaid balance of principal or accrued
interest that may remain after the final Payment on February 1, 2013 or defeasance of the Prior
TIF Note, except from Available Tax Increment attributable to property taxes paid in 2012 or prior
years.
4. Default. Upon an Event of Default by the Redeveloper under the Agreement, the
Authority may exercise the remedies with respect to this Note described in Section 9.2 of the
Agreement, the terms of which are incorporated herein by reference.
5. Optional Prepayment. The principal sum and all accrued interest payable under this
Note is prepayable in whole or in part at any time by the Authority without premium or penalty. No
partial prepayment shall affect the amount or timing of any other regular payment otherwise
required to be made under this Note.
6. Nature of Obligation. This Note is one of an issue in the total principal amount of
$_____________ issued to aid in financing certain public redevelopment costs of a Project
undertaken by the Authority pursuant to Minnesota Statutes, Sections 469.001 through 469.047, and
is issued pursuant to an authorizing resolution (the “Resolution”) duly adopted by the Authority on
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328776v2 MNI SA285-88 E-4
__________, 2008, and pursuant to and in full conformity with the Constitution and laws of the
State of Minnesota, including Minnesota Statutes, Sections 469.174 to 469.179. This Note is a
limited obligation of the Authority which is payable solely from Available Tax Increment pledged
to the payment hereof under the Resolution. This Note and the interest hereon shall not be deemed
to constitute a general obligation of the State of Minnesota or any political subdivision thereof,
including, without limitation, the Authority. Neither the State of Minnesota, nor any political
subdivision thereof shall be obligated to pay the principal of or interest on this Note or other costs
incident hereto except out of Available Tax Increment, and neither the full faith and credit nor the
taxing power of the State of Minnesota or any political subdivision thereof is pledged to the
payment of the principal of or interest on this Note or other costs incident hereto.
7. Registration and Transfer. This Note is issuable only as a fully registered note
without coupons. As provided in the Resolution, and subject to certain limitations set forth therein,
this Note is transferable upon the books of the Authority kept for that purpose at the principal office
of the City Finance Director, by the Owner hereof in person or by such Owner's attorney duly
authorized in writing, upon surrender of this Note together with a written instrument of transfer
satisfactory to the Authority, duly executed by the Owner. Upon such transfer or exchange and the
payment by the Owner of any tax, fee, or governmental charge required to be paid by the Authority
with respect to such transfer or exchange, there will be issued in the name of the transferee a new
Note of the same aggregate principal amount, bearing interest at the same rate and maturing on the
same dates.
This Note shall not be transferred to any person (except to the extent permitted under the
Resolution or the Agreement) unless the Authority has been provided with an opinion of counsel or
a certificate of the transferor, in a form satisfactory to the Authority, that such transfer is exempt
from registration and prospectus delivery requirements of federal and applicable state securities
laws.
IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions, and things required
by the Constitution and laws of the State of Minnesota to be done, to exist, to happen, and to be
performed in order to make this Note a valid and binding limited obligation of the Authority
according to its terms, have been done, do exist, have happened, and have been performed in due
form, time and manner as so required.
IN WITNESS WHEREOF, the Board of Commissioners of the St. Louis Park Economic
Development Authority has caused this Note to be executed with the manual signatures of its
President and Executive Director, all as of the Date of Original Issue specified above.
ST. LOUIS PARK ECONOMIC
DEVELOPMENT AUTHORITY
Executive Director President
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328776v2 MNI SA285-88 E-5
REGISTRATION PROVISIONS
The ownership of the unpaid balance of the within Note is registered in the bond register of
the City Finance Director, in the name of the person last listed below.
Date of Signature of
Registration Registered Owner____ City Finance Director
Lake Street Office Center LLC
Federal Tax I.D. No. _____________
Section 3. Terms, Execution and Delivery.
3.01. Denomination, Payment. The Note shall be issued as a single typewritten note
numbered R-1.
The Note shall be issuable only in fully registered form. Principal of and interest on the
Note shall be payable by check or draft issued by the Registrar described herein.
3.02. Dates; Interest Payment Dates. Principal of and interest on the Note shall be payable
by mail to the owner of record thereof as of the close of business on the fifteenth day of the month
preceding the Payment Date, whether or not such day is a business day.
3.03. Registration. The Authority hereby appoints the City Finance Director to perform
the functions of registrar, transfer agent and paying agent (the “Registrar”). The effect of
registration and the rights and duties of the Authority and the Registrar with respect thereto shall be
as follows:
(a) Register. The Registrar shall keep at its office a bond register in which the Registrar
shall provide for the registration of ownership of the Note and the registration of transfers and
exchanges of the Note.
(b) Transfer of Note. Upon surrender for transfer of the Note duly endorsed by the
registered owner thereof or accompanied by a written instrument of transfer, in form reasonably
satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly
authorized by the registered owner in writing, the Registrar shall authenticate and deliver, in the
name of the designated transferee or transferees, a new Note of a like aggregate principal amount
and maturity, as requested by the transferor. Notwithstanding the foregoing, the Note shall not be
transferred to any person (other than an affiliate, or other related entity, of the Owner, or to a lender
as security for financing necessary to construct the Minimum Improvements as defined in the
Agreement) unless the Authority has been provided with an opinion of counsel or a certificate of the
transferor, in a form satisfactory to the Authority, that such transfer is exempt from registration and
prospectus delivery requirements of federal and applicable state securities laws. The Registrar may
close the books for registration of any transfer after the fifteenth day of the month preceding each
Payment Date and until such Payment Date.
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(c) Cancellation. The Note surrendered upon any transfer shall be promptly cancelled
by the Registrar and thereafter disposed of as directed by the Authority.
(d) Improper or Unauthorized Transfer. When the Note is presented to the Registrar for
transfer, the Registrar may refuse to transfer the same until it is satisfied that the endorsement on
such Note or separate instrument of transfer is legally authorized. The Registrar shall incur no
liability for its refusal, in good faith, to make transfers which it, in its judgment, deems improper or
unauthorized.
(e) Persons Deemed Owners. The Authority and the Registrar may treat the person in
whose name the Note is at any time registered in the bond register as the absolute owner of the
Note, whether the Note shall be overdue or not, for the purpose of receiving payment of, or on
account of, the principal of and interest on such Note and for all other purposes, and all such
payments so made to any such registered owner or upon the owner's order shall be valid and
effectual to satisfy and discharge the liability of the Authority upon such Note to the extent of the
sum or sums so paid.
(f) Taxes, Fees and Charges. For every transfer or exchange of the Note, the Registrar
may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee,
or other governmental charge required to be paid with respect to such transfer or exchange.
(g) Mutilated, Lost, Stolen or Destroyed Note. In case any Note shall become mutilated
or be lost, stolen, or destroyed, the Registrar shall deliver a new Note of like amount, maturity dates
and tenor in exchange and substitution for and upon cancellation of such mutilated Note or in lieu of
and in substitution for such Note lost, stolen, or destroyed, upon the payment of the reasonable
expenses and charges of the Registrar in connection therewith; and, in the case the Note lost, stolen,
or destroyed, upon filing with the Registrar of evidence satisfactory to it that such Note was lost,
stolen, or destroyed, and of the ownership thereof, and upon furnishing to the Registrar of an
appropriate bond or indemnity in form, substance, and amount satisfactory to it, in which both the
Authority and the Registrar shall be named as obligees. The Note so surrendered to the Registrar
shall be cancelled by it and evidence of such cancellation shall be given to the Authority. If the
mutilated, lost, stolen, or destroyed Note has already matured or been called for redemption in
accordance with its terms, it shall not be necessary to issue a new Note prior to payment.
3.04. Preparation and Delivery. The Note shall be prepared under the direction of the
Executive Director and shall be executed on behalf of the Authority by the signatures of its
President and Executive Director. In case any officer whose signature shall appear on the Note shall
cease to be such officer before the delivery of the Note, such signature shall nevertheless be valid
and sufficient for all purposes, the same as if such officer had remained in office until delivery.
When the Note has been so executed, it shall be delivered by the Executive Director to the Owner
thereof in accordance with the Agreement.
Section 4. Security Provisions.
4.01. Pledge. The Authority hereby pledges to the payment of the principal of and interest
on the Note all Available Tax Increment, as defined in, and subject to the terms described in, the
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Note. Available Tax Increment shall be applied to payment of the principal of and interest on the
Note in accordance with the terms of the form of Note set forth in Section 2 of this resolution.
4.02. Bond Fund. Until the date the Note is no longer outstanding and no principal thereof
or interest thereon (to the extent required to be paid pursuant to this resolution) remains unpaid, the
Authority shall maintain a separate and special “Bond Fund” to be used for no purpose other than
the payment of the principal of and interest on the Note. The Authority irrevocably agrees to
appropriate to the Bond Fund in each year Available Tax Increment. Any Available Tax Increment
remaining in the Bond Fund shall be transferred to the Authority's account for the TIF District upon
the termination of the Note in accordance with its terms.
4.03. Additional Obligations. The Authority will issue no obligations secured by
Available Tax Increment unless such pledge is on a subordinate basis to the pledge to the Note.
Section 5. Certification of Proceedings.
5.01. Certification of Proceedings. The officers of the Authority are hereby authorized and
directed to prepare and furnish to the Owner of the Note certified copies of all proceedings and
records of the Authority, and such other affidavits, certificates, and information as may be required
to show the facts relating to the legality and marketability of the Note as the same appear from the
books and records under their custody and control or as otherwise known to them, and all such
certified copies, certificates, and affidavits, including any heretofore furnished, shall be deemed
representations of the Authority as to the facts recited therein.
Section 6. Effective Date. This resolution shall be effective upon full execution of the
Agreement.
Adopted this _____ day of __________, 2008.
President
ATTEST:
Secretary
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328776v2 MNI SA285-88 E-8
Attachment A to Note
Payment Schedule
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328776v2 MNI SA285-88 F-1
SCHEDULE F
REDEVELOPER REPAYMENT EXAMPLE
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 52
328776v2 MNI SA285-88 G-1
SCHEDULE G
CERTIFICATE OF COMPLETION
WHEREAS, the St. Louis Park Economic Development Authority (the “Authority”) and
Lake Street Office Center LLC (“Redeveloper”) entered into a certain Contract for Private
Redevelopment dated __________, 2008 (“Contract”); and
WHEREAS, the Contract contains certain covenants and restrictions set forth in Articles
III and IV thereof related to completing certain Minimum Improvements; and
WHEREAS, the Redeveloper has performed said covenants and conditions insofar as it is
able in a manner deemed sufficient by the Authority to permit the execution and recording of this
certification;
NOW, THEREFORE, this is to certify that all construction and other physical
improvements related to the Minimum Improvements specified to be done and made by the
Redeveloper have been completed and the agreements and covenants in Articles III and IV of the
Contract have been performed by the Redeveloper, and this Certificate is intended to be a
conclusive determination of the satisfactory termination of the covenants and conditions of
Articles III and IV of the Contract related to completion of the Minimum Improvements, but any
other covenants in the Contract shall remain in full force and effect.
Dated: _______________, 20__. ST. LOUIS PARK ECONOMIC DEVELOPMENT
AUTHORITY
By
Authority Representative
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 53
328776v2 MNI SA285-88 H-1
SCHEDULE H
FORM OF ASSESSMENT AGREEMENT
ASSESSMENT AGREEMENT
and
ASSESSOR’S CERTIFICATION
By and Between
ST LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
and
LAKE STREET OFFICE CENTER LLC
This Document was drafted by:
KENNEDY & GRAVEN, Chartered
470 US Bank Plaza
200 South Sixth Street
Minneapolis, Minnesota 55402
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 54
328776v2 MNI SA285-88 H-2
ASSESSMENT AGREEMENT
[Lake Street Office Center]
THIS AGREEMENT, made on or as of the ____ day of _________________, 20____ by
and between the St. Louis Park Economic Development Authority, a public body, corporate and
politic (the “Authority”) and Lake Street Office Center LLC, a Minnesota limited liability company
(the “Redeveloper”).
WITNESSETH, that
WHEREAS, on or before the date hereof the Authority and the Redeveloper have entered
into a Contract for Private Redevelopment dated ______, 2008 (the “Contract”), pursuant to which
the Authority is to facilitate development of certain property in the City of St. Louis Park (the
“City”) hereinafter referred to as the “Property” and legally described in Exhibit A hereto; and
WHEREAS, pursuant to the Contract the Redeveloper is obligated to construct certain
improvements upon the Property referred to as the Lake Street Office Center.
WHEREAS, it is intended that the Redeveloper will establish the Property as a commercial
office building by constructing the Minimum Improvements as described in the Contract; and
WHEREAS, the Authority and Redeveloper desire to establish a minimum market value for
the Property and the Minimum Improvements to be constructed thereon, pursuant to Minnesota
Statutes, Section 469.177, Subdivision 8; and
WHEREAS, the Redeveloper represents that it has acquired and now owns fee title to all of
the Property; and
WHEREAS, the Authority and the City Assessor (the “Assessor”) have reviewed the
preliminary plans and specifications for the improvements.
NOW, THEREFORE, the parties to this Agreement, in consideration of the promises,
covenants and agreements made by each to the other, do hereby agree as follows:
1. The minimum market value which shall be assessed for ad valorem tax purposes for
the Property described in Exhibit A shall be $900,000 as of January 2, 2009 notwithstanding the
progress of construction by such date.
2. The minimum market value herein established shall be of no further force and effect
and this Agreement shall terminate on the Maturity Date as defined in the Contract, or such earlier
date on which the Contract is terminated as provided therein. The event referred to in Section 2 of
this Agreement shall be evidenced by a certificate or affidavit executed by the Authority.
3. This Agreement shall be promptly recorded by the Authority. The Redeveloper
shall pay all costs of recording.
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 55
328776v2 MNI SA285-88 H-3
4. Neither the preambles nor provisions of this Agreement are intended to, nor shall
they be construed as, modifying the terms of the Contract between the Authority and the
Redeveloper.
5. This Agreement shall inure to the benefit of and be binding upon the successors and
assigns of the parties.
6. Each of the parties has authority to enter into this Agreement and to take all actions
required of it, and has taken all actions necessary to authorize the execution and delivery of this
Agreement.
7. In the event any provision of this Agreement shall be held invalid and unenforceable
by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable
any other provision hereof.
8. The parties hereto agree that they will, from time to time, execute, acknowledge and
deliver, or cause to be executed, acknowledged and delivered, such supplements, amendments and
modifications hereto, and such further instruments as may reasonably be required for correcting any
inadequate, or incorrect, or amended description of the Property or the Minimum Improvements or
for carrying out the expressed intention of this Agreement, including, without limitation, any further
instruments required to delete from the description of the Property such part or parts as may be
included within a separate assessment agreement.
9. Except as provided in Section 8 of this Agreement, this Agreement may not be
amended nor any of its terms modified except by a writing authorized and executed by all parties
hereto.
10. This Agreement may be simultaneously executed in several counterparts, each of
which shall be an original and all of which shall constitute but one and the same instrument.
11. This Agreement shall be governed by and construed in accordance with the laws of
the State of Minnesota.
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 56
328776v2 MNI SA285-88 H-4
IN WITNESS WHEREOF, the Authority and the Redeveloper have caused this Assessment
Agreement to be executed in their names and on their behalf by their duly authorized
representatives all as of the date set forth above.
ST. LOUIS PARK ECONOMIC
DEVELOPMENT AUTHORITY
By:____________________________________
Its President
By:____________________________________
Its Executive Director
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this ____ day of ____, 2008, by
__________________________ and __________________________, the President and
Executive Director, respectively, of the St. Louis Park Economic Development Authority, on
behalf of said Authority.
_______________________________________
Notary Public
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 57
328776v2 MNI SA285-88 H-5
LAKE STREET OFFICE CENTER LLC
By:____________________________________
Its: _________________________________
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
This instrument was acknowledged before me on ____________, 2008, by
_________________________, the ________________, of Lake Street Office Center LLC, a
Minnesota limited liability company, on behalf of said company.
_______________________________________
Notary Public
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 58
328776v2 MNI SA285-88 H-6
CERTIFICATION BY CITY ASSESSOR
The undersigned, having reviewed certain plans for the Minimum Improvements to be
constructed and the market value assigned to the land upon which the Minimum Improvements
are to be constructed, as described in this Assessment Agreement, hereby states as follows: The
undersigned Assessor, being legally responsible for the assessment of the above described
property, hereby certifies that the $__________ minimum market value hereinabove in Section 1
assigned to the Redevelopment Property and Minimum Improvements is reasonable.
_______________________________________
City Assessor
STATE OF MINNESOTA )
) ss
COUNTY OF HENNEPIN )
This instrument was acknowledged before me on ____________, 2008, by
_________________, the City Assessor of St. Louis Park.
_______________________________________
Notary Public
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 59
328776v2 MNI SA285-88 H-7
EXHIBIT A TO ASSESSMENT AGREEMENT
Legal Description of Redevelopment Property
Tracts A and B, Registered Land Survey No. 554, Hennepin County, Minnesota.
Torrens Certificate No. 1200989 (Tract A)
Torrens Certificate No. 1200990 (Tract B)
Meeting of March 24, 2008 (Item No. 9)
Subject: Proposed Redevelopment Contract with Lake Street Office Center LLC Page 60
Meeting Date: March 24, 2008
Agenda Item #: 10
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Comprehensive Plan Update
RECOMMENDED ACTION:
None at this time. The purpose of this report is to apprise the Council on where things stand with
the process of updating the City’s Comprehensive Plan
POLICY CONSIDERATION:
None at this time. As information is collected, policy issues may arise and will be brought to the
City Council for discussion and consideration.
BACKGROUND:
State law requires cities to update their Comprehensive Plans every 10 years. We are working on
updating several information pieces through the various city departments. Those updates will come
forward to the City Council as they are drafted.
Staff is working toward a neighborhood input process for the “Plan by Neighborhood” section of the
Comprehensive Plan. It is expected this process would be held during the 2008-09 winter. In the
next few months, Staff will review the proposed process at a Study Session meeting.
FINANCIAL OR BUDGET CONSIDERATION:
Not Applicable.
VISION CONSIDERATION:
The update process will incorporate Vision into every aspect of the City’s Comprehensive Plan.
Attachments: What is a Comprehensive Plan
Plan Areas and Vision Considerations
Outline of 2008 Comprehensive Plan
Prepared by: Meg J. McMonigal, Planning and Zoning Supervisor
Approved by: Tom Harmening, City Manager
Meeting of March 24, 2008 (Item No. 10) Page 2
Subject: Comprehensive Plan Update
Comprehensive Plan
WHAT IS A COMPREHENSIVE PLAN?
• A Comprehensive Plan carries out the City’s future Vision.
• It sets goals, policies and direction in a comprehensive manner and sets a clear image of the
values the city as a governing body wants to achieve.
• It functions as a framework for achieving the city’s goals that are consistent with the city’s
chosen direction.
• It provides a touchstone to guide daily, weekly and monthly decision making.
• It looks at the city as a whole to help make coordinated plans and avoid future conflicts.
WHY ARE WE UPDATING THE PLAN?
State laws require that all governmental entities in the metro area update their Comprehensive Plans
at least once every 10 years. The plans are reviewed and aggregated by the Metropolitan Council in
order to plan on a region-wide basis. For example, the Met Council owns and operates the sanitary
sewer system in the metro area. It works with communities on several aspects of planning in order
to determine if development can occur in various locations. It coordinates planning in order to have
an efficient development pattern.
WHAT DOES A COMPREHENSIVE PLAN INCLUDE?
A Comprehensive Plan includes policy and topical areas that set forth the future direction of the city.
Certain subjects are required by State law to be addressed, including land use, transportation,
housing, surface water management, public facilities, and capital improvements.
St. Louis Park’s plan includes the additional special areas of Economic Development, Public Safety,
Livable Communities and Plan by Neighborhood.
PLANNING PROCESS and COMMUNITY INVOLVEMENT
The Planning Commission will be the primary community planning group for the updates to the
Plan. In some areas, an additional advisory group may be needed for a particular subject. In areas
such as Housing or Parks, the existing Housing Authority and Parks and Recreation Advisory
Commission will become an advisory group on its particular subject area. As other special needs
arise, there may be need for additional groups to be utilized or advisory or task force groups to be
formed.
A neighborhood planning process is envisioned for the ’08 to ’09 school year. A process for
neighborhood involvement is being planned and designed at this time.
Meeting of March 24, 2008 (Item No. 10) Page 3
Subject: Comprehensive Plan Update
Chapter: Addresses Our Vision:
Who We Are
Demographics
Housing
Employment
Economic growth
DIVERSITY: St. Louis Park is a city where everyone feels and experiences a
sense of belonging. People of all ethnic backgrounds and religious faiths feel free to
live, work and play according to their beliefs.
HOUSING: St. Louis Park's diverse housing options enable citizens to remain in
the city through all stages of life. Providing living arrangements to accommodate all
generations' needs enhances the chances of building a strong community and sense of
ownership.
How We Get Around
Transportation
Sidewalks and Trails
Transit
TRANSPORTATION: St. Louis Park offers a variety of transportation modes
allowing residents and visitors to easily and inexpensively travel throughout the city
and entire metro region.
SIDEWALK AND TRAILS: St. Louis Park has a connected network of safe
sidewalks and trails to encourage physical fitness and non-polluting transportation
options. The city encourages trail use by members of all ages and physical abilities.
Where We Gather
Gathering Places
Parks and Open Space
Schools
Community Events and
Activities
Arts and Culture
GATHERING PLACES: St. Louis Park has many gathering places –
including centers dedicated to recreation, youth activities, and the arts. Parks and
shopping centers also serve as key contact points where people can meet and fully
experience the city’s many amenities.
COMMUNITY EVENTS: Activities and celebrations throughout the year
provide ways for residents, workers and visitors to come together and keep the St.
Louis Park community welcoming, vibrant, and active. In the fullest sense of
community, such events provide an opportunity for residents of different ages and
backgrounds to connect on common ground.
ARTS and CULTURE: Diverse arts and cultural activities permeate all aspects
of life in St. Louis Park. The entire community is enriched by the free flow of
artistic expression.
Meeting of March 24, 2008 (Item No. 10) Page 4
Subject: Comprehensive Plan Update
How We Live in Our
Environment
Our Environment
Water
Sanitary Sewer
Stormwater
Other utilities
Public Health
Public Safety
ENVIRONMENT: St. Louis Park’s overall outdoor and built environment is
clean, green, healthy, safe, and aesthetically pleasing. Community members are
responsible stewards of the environment and realize their actions today influence the
greater ecology inherited by future generations.
Why We are a Livable
Community
Livable Community
Overall Land Use
Plan By Neighborhood
Redevelopment Plan
Historic Preservation
ALL
How We Govern
Communications
City/Intergovernmental
VISION SUMMARY
Meeting of March 24, 2008 (Item No. 10) Page 5
Subject: Comprehensive Plan Update
Our Vision New Existing/Required
Who We Are
A. Demographics X
B. Housing X
C. Economic growth and employment X
How We Get Around
A. Transportation X
B. Sidewalks and Trails X
C. Transit X
Where We Gather
A. Gathering Places X
B. Parks and Open Space X
C. Community Events X
D. Schools X
E. Arts and Culture X
How We Live in Our Environment
A. Our Environment X
B. Water X
C. Sanitary Sewer X
D. Stormwater X
E. Other utilities X
F. Public Health X
G. Public Safety X
Why We are a Livable Community
A. Overall Land Use X
B. Plan By Neighborhood X
C. Redevelopment Plan X
D. Historic Preservation X
How We Govern
A. Communications X
B. City/Intergovernmental X
Meeting Date: March 24, 2008
Agenda Item #: 11
Regular Meeting Public Hearing Action Item Consent Item Resolution Ordinance
Presentation Other:
EDA Meeting Action Item Resolution Other:
Study Session Discussion Item Written Report Other:
TITLE:
Zoning Amendments.
RECOMMENDED ACTION:
None at this time. This report is intended to serve as an update to Council regarding zoning
amendments staff has been working on.
POLICY CONSIDERATION:
Staff was directed to prepare zoning amendments relating to sensitive uses.
BACKGROUND:
Several zoning amendments will be coming forward for consideration in the next 1-2 months. The
most recent zoning ordinance amendment contained the new use categories of currency exchange
and payday loan agency. It is proposed that these uses would be allowed only by conditional use
permit. In addition, the Council asked staff to revise the zoning ordinance to require that distance
requirements were equally implemented for currency exchange, payday loan agency, sexually-
oriented businesses, liquor stores and gun shops. Staff is currently researching options and preparing
language to implement such requirements. Also proposed will be to require conditional use permits
for schools and religious institutions in residential zoning districts. This would provide additional
review for these uses that have daily impacts on surrounding neighborhoods. Lastly, staff hopes to
look at the zoning definition and standards for “massage parlors” and update the code as well.
FINANCIAL OR BUDGET CONSIDERATION:
Not Applicable.
VISION CONSIDERATION:
Not Applicable.
Attachments: None
Prepared by: Meg J. McMonigal, Planning and Zoning Supervisor
Approved by: Tom Harmening, City Manager