HomeMy WebLinkAbout1993/05/03 - ADMIN - Agenda Packets - Economic Development Authority - RegularA GENDA
ECONOMIC DEVELOPMENT AUTHORITY
ST. LOUIS PARK, MINNESOTA
May 3, 1993
7:00 p.m.
1. Call to order
2. Roll call
3. Approval of minutes of April 19, 1993 meeting
4. Approval of agenda for May 3, 1993- V [9
5. Reports
6. Unfinished business
7. New business
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a. Bid tabulation: Landscanin at +. : ,"pr> sis sis&kd %%[;" 7/9is5as we. and south
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a. Monthly financial statement U/IN -o /
b. Vendor claims- CH/LA 7-O
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REQUEST- FO R EDA ACTION
DATE May 3. 1993
AGENDA SECTION: New Business.
N O . 7
ORIGINATING DEPARTMENT:
Public Works
ITEM: Bid Tabulation: Landscaping at T.H. 7/ {APPROVED:
Louisiana Ave. & South Oak Pond -
NO. la Proj . Nos. 90-50 & 92-11
1is were receive on pri • or ie anuscaping o .ouisiana Avenue/Trunk
Highway 7 area (Project No. 90-50) and South Oak Pond (Project No. 92-11). An
advertisement for bids was published in the St. Louis Park Sun-Sailor on March 31 and
April 7, 1993 and in the Construction Bulletin on April 2, 9, 16, and 23, 1993. A
summary of the bid results is as follows:
Bidder
Noble Nursery Retail, Inc.
Greenworks, Inc.
Lino Lakes·Nursery, Inc.
Fair's Garden Center
North Metro Landscaping
Minnesota Valley Landscape, Inc.
Arteka Natural Green
Engineer's Estimate
Bid Amount
$ 149,77 4.30*
155,678.90
155,870.00
159,307.50
170,225.81
172,135.00
193,861.30
.$ 240,000.00
) * Engineer's correction upon ·extension of unit. prices.
Analysis of the Bids: A review of the bids indicates Noble Nursery Retail, Inc.
(Noble) submitted the lowest responsible bid. Discussions with a representative of
Noble confirmed the company is prepared to enter into a contract with the Economic
Development Authority at the bid price submitted. Noble is currently a subcontractor
for all landscaping work in the France Avenue/Highway 7 triangle area. All work
performed to date is satisfactory.
Financial Considerations: A comparison of the "As Ordered" project costs and a
revised projects cost (based on the Noble bid) is as follows:
As-Ordered
$ 218,000
22,000
240,000
29,000
$ 269,000
Contract
Contingency (10%)
SUBTOTAL
Engineering/Administrative
TOTAL
As-Bid
$ 149,774.30
0.00
149,774.30
17,972.88
$ 167,747.18
The 1993 Economic Development Authority budget contains necessary funding to finance
the landscaping projects.
(continued)
PUBLIC WOI .S
A P P R O V ,
IED
COMM . DEVEL.
A P P R O V A L g/29/93 [A P P R O V A L
O B T A IN E D O B T A IN E D
A PP R O V AL
O B T A IN E D
xecutive Director
APPROVAL /) 4 Q+.»
oeTzuvD <A/ II[
COUNCIL ACTION: MOTION BY 2ND BY TO ---------- ---------- -----
Recommendation: It is recommended the Economic Development Authority authorize
execution of a contract in the amount of $149,792.30 with Noble Nursery Retail, Inc.
for Landscaping at Louisiana Avenue/Trunk Highway 7 and South Oak Pond. (
sjk
RESOLUTI ON NO. -----
RESOLUTION ACCEPTING BID AND AUTHORIZING EXECUTION OF A
CONTRA CT FOR LANDSCAPING AT LOUISIANA AVENUE/TRUNK HIGHWAY 7 (PROJECT NO. 90-50)
AND SOUTH OAK POND (PROJECT NO. 92-11)
WHEREAS , pursuant to an advertisement for bids for Project Nos. 90-50 and 92-11,
bids were received, opened, and tabulated by the Executive Director on April 27,
1993. Said bids were as follows:
Bidder
Noble Nursery Retail, Inc.
Greenworks, Inc.
Lino Lakes Nursery, Inc.
Fair's Garden Center
North Metro Landscaping
Minnesota Valley Landscape, Inc.
Arteka Natural Green
Engineer's Estimate
Bid Amount
$ 149,77 4.30*
155,678.90
155,870.00
159,307.50
170,225.81
172,135.00
193,861.30
$ 240,000.00
)
E ngineer's correction upon extension of unit prices.
NOW , THEREFORE, BE IT RESOLVED by the Economic Development Authority of the
City of St. Louis Park, Minnesota that:
l. Noble Nursery Retail, Inc. is approved as the lowest responsible bidder.
2. The President and Executive Director are hereby authorized and directed to
enter into a contract in the amount of $149,792.30 with Noble Nursery Retail,
Inc. in the name of the Economic Development Authority of St. Louis Park, for
Project Nos. 90-50 and 92-11 according to the plans and specifications approved
by the Economic Development Authority and on file in the office of the Director
of Public Works.
3. City staff is hereby authorized and directed to return all bona fide plan
holders the deposits made in accordance with the bid documents, except that the
deposit of the successful bidder and the next lowest bidder shall be retained
until a contract has been executed.
Adopted by. the Economic Development Authority of St. Louis Park May 3, 1993
President
Attest:
Cit y Cl erk
Reviewed for administration: Approved as to form and execution:
Executive Director Economic Development Authority Attorney
)
May 3, 1993
ED A
TO : Economic Development Authority
THROUGH : Charlie Meyer, Executive Director ,7
FROM : Don Rambow 9/
SUBJECT : April, 1993 EDA Monthly Statement
The Combining Statement of Revenue and Expenditures, the Individual Statement
of Revenue and Expenditures and Schedule of Investments provides, in summary
form , the financial position of the EDA.
Revenue co 11 ect ions refl ect interest received on investments which matured
during April.
Sig nif icant expenditures reflect payment to the City for salaries and expenses
fr om January through April , 1 ega 1 services fo r January and February, and
envir onmental remediation at the Wilkins Pontiac site.
St. Louis Park Economic Development Authority
Combining Statement of Revenue and Expenditures
Budget and Actual
For Period Ending April 30, 1993
YT D Balance Percent
Coll ected/ Uncoll ec. / Collected/
Budget Expended Unexpend. Expended
Revenue -------- --------- --------- --------- -------
Tax increment $2,331,371 $ $2,331,371
Rent 4,680 1,560 3,120 33
Interest 555,000 325,596 229,404 59
Land sale
Transfers 4,057,652 504,000 3,553,652 12
Refunds & Reimburse 175,000 225,000 (50,000)
--------- --------- --------- Total Revenue 7,123,703 1,056,156 6,067,547 15
--------- --------- ---------
Expendit ures
------------
Administrative
Salaries 84,000 26,500 57,500 32
Employee benefits 17,170 5,345 11 ,825 31
Supplies & other chgs. 5,420 1,831 3,589 34
Legal 7,200 1,055 6,145 15
Contractual 1,700 480 1,220 28
Planning 10,000 5,051 4,949 51
) --------- --------- ---------
Total Administrative 125,490 40,262 85,228 32
--------- --------- --------- Project Cost
Appraisal/survey
Legal 75,000 23,337 51,663 31
Environ. analysis 43,300 22,222 21,078 51
Public improvement 6,743,500 356,495 6,387,005 5
Relocation/demolition 95,000 18 ,045 76,955 19
Property taxes 74,362 74,362
Acquisition 1,824,800 62,230 1,762,570 3
Envirn. Remediation 62,500 62,500
Referendum payment 340,000 340,000
Property Maintenance 16,500 705 15,795 4
Other services 30,500 1,879 28,621 6
Transfers 3,553,652 3,553,652
--------- --------- --------- Total Project Costs 12,859,11 4 484,913 12,374,201 4
--------- --------- ---------
Debt Service
Bond interest 504,000 252,000 252,000 50
Transfer 504,000 504,000 100
Inter-govt., City 620,000 620,000 100
Bond agent fees
--------- --------- --------- Total Debt Service 1,628,000 1,376,000 252,000 85
--------- --------- --------- Total Expenditures 14,612,604 1,901,175 12,711,429 13
--------- --------- --------- O Revenue over (under)
Expenditures (7,488,901) (845,019)(6,643,882) 11
========= ========= --------- o A g
St. Louis Park Economic Development Authority
Individual Statement Of Revenue And Expenditures
For Period Ending April 30, 1993
Excelsior Oak Park Trunk Capital Debt
Revenue Blvd Vil lage Hwy 7 Projects Service To tal
------- --------- -------- ------- -------- ------- -------
Tax increment $ $ $ $ $ $
Rent 1,560 1,560
Interest 203,389 20,954 27,428 65,910 7,915 325,596
Transfers 504,000 504,000
Re fund/reimburse 225,000 225,000
--------- ------- ------- ------- ------- ---------
To tal Revenue 428,389 22,514 27,428 65,910 511,915 1,056,156
--------- ------- ------- ------- ------- ---------
Expendit ures
------------
Administrative
Salaries 11 ,695 5,825 8,980 26,500
Employee benefits 1,811 1,126 2,408 5,345
Supplies & other chgs. 1,031 395 405 1,831
Legal 352 352 351 1,055
Contractual 160 160 160 480
Planning 5,051 5,051
--------- ------- ------- ------- ------- ---------
To tal Administrative 20,100 7,858 12,304 40,262
--------- ------- ------- ------- ------- --------- Project Cost
A ppraisal/survey
Legal 23,337 23, 337
Environ. analysis 19,522 2,700 22,222
Public improvement 356,495 356,495
Relocation/demolition 18,045 18,045
Acquisit ion 62,230 62,230
Condemn at ion
Referendum payment
Property maintenance 705 705
Other services 94 1,785 1,879
--------- ------- ------- ------- ------- ---------
To tal Project Costs 61,703 423,210 484,913
--------- ------- ------- ------- ------- ---------
Debt Service
Bond interest 252,000 252,000
Transfer 504,000 504,000
Inter-govt., City 620,000 620,000
Bond agent fees
--------- ------- ------- ------- ------- ---------
To tal Debt Service 1,124,000 252,000 1,376,000
--------- ------- ------- ------- ------- ---------
To tal Expenditures 1,205,803 7,858 435,514 252,000 1,901,175
--------- ------- ------- ------- ------- ---------
Revenue over (under)
Expenditures (777,414) 14,656 (408,086) 65,910 259,915 (845,019)
--------- ======= =========r ======= ======= ---------
J
2
ST. LOU IS PARK ECO NOM IC DEVELOPMENT AUTHORITY
SCHEDULE OF INVESTMENTS
APRIL 30, 199 3
Date
Investme nts » e a « a» «0 » » # ® gN ,
Institution /Type Yield Purchase Maturity Balanc e
---------------- A oe » a a» a « »
1st Banks - Treas. 5.43 11-05-91 04 -30-93 s1,170,000
Park Investme nt-FNMA 5.15 12-03-91 06-10-93 910,000
1st Banks - FC 5.21 12-03-91 08 -02-93 950,000
Park National - C.D. 4.55 05-05-92 09-13-93 1,000,000
Park Investme nt - Treas. 46.67 06-02-92 09-30-93 975 ,000
1st Banks - FHL 6.09 10-25-91 10-25-93 2,250,000
Dain Bosworth-Treas. 3.59 10-26-92 11-15-93 2,626,444
1st Banks - FC 3.77 12-10-92 12-01-93 75 0,947
Dain Bosworth - FC 4.03 07-08-92 12-02-93 1,001,063
Park Investme nt - FNMA 4.08 07-10-92 01-10-94 966 ,699
Paine Webbe r - FHL 3.53 09-10-92 01-25-94 820,100
Dain Bosworth-Treas. 3.42 09-10-92 01-31-94 390,229
Park National - C.D. 3.75 02-02-93 01-31-94 500,000
1st Banks - FHL 3.92 08 -10-92 02-25-94 465,443
1st Banks - FHL 4.30 12-01-92 02-25-94 1,060,75 9
1st Banks - FHL 5.35 02-28-91 02-28-94 500,000
1st Banks - FC 5.80 04-01-92 0%-04-94 1,000,000
Dain Bosworth- Treas. 3.75 10-13-92 04 -15-94 1,013,055
) 1st Banks - Treas. 4.18 11-02-92 04 -30-94 1,068 ,359
Dain Bosworth - Treas. 4.09 12-28-92 04-30-94 66 6,363
Dain Bosworth - FNMA 4.25 12-28-92 05-22-94 518,551
Park National - C.D. 3.50 03-01-93 05-22-94 1,000,000
Dain Bosworth - Treas. 3.61 03-31-93 07-31-94 1,015,208
4M Fund Various Open 664 ,974
® l 8 • q,,
Total Investme nts $23,283,194
---------- ----------
Legend : C.D. = Certificate of Depo sit
C.P. = Comme rcial Pape r
F.C. = Farm Cred it
F.N.M.A. = Fed eral Nation al Mortgage Assn.
F.H.L.B, = Fed eral Home Loan Bank
Treas. = U.S. Treasury Bond s
Gov't Agenc ies = Term U.S. Governmen t Sec urities
3
VENDOR CLAIMS
Economic Development Authority-St. Louis Park
May 3, 1993
Vendor
Albinson
Henn Co Treasurer
C. S. McCrossan Construction
Description
Supplies
First half property taxes
Services
TOTAL
Amount
$ 43.44
40,074.03
3,268.50
$ 43,385.97
Accounting Dept. kW, Harke<r a cad {/\9/ 9.s
Executive Director
)