HomeMy WebLinkAbout1993/09/07 - ADMIN - Agenda Packets - Economic Development Authority - RegularA GE ND A
EC ON O M I C D E V ELO P M ENT A UT H OR IT Y
ST . L O U IS PAR K , M INNE S O TA
Tuesday, September 7, 1993
7:00 p .m .
1. Call to order
2. Roll call
3 . Approval of minutes of August 16 , 19 9 3 ./OW 7-0
7-0 s, CNlU 4 . Approval of agenda for September 7,
5. Reports
M o @>
a. Approval of early access agreement for Park Nicollet
Medical center LH/C{ 7-0
b. Park Nicollet project schedule (attached for informational 2 )2!
uroses[GH 7-0
c. Tower Place parking ramp - Review of conceptual elevations
d. Approval of modifications to contract with SPS Companies
6. Communications and bills
a. Monthly financial stat~ment ·- J¥6 H 7-D
s. vendor claims -JJ/LH Z-O
7. Other business
8. Adjournment
R E Q U E S T F O R E D A A C T IO N
I ) DATE September 7, 1993
AGENDA SECTION:
NO.
ORIGINATING DEPARTMENT:
Community Development
ITEM: p proval of Early Access Agreement [APPROVED:
for Park Nicollet Project /kl David Hagen, Director
NO. 1
BA C K G R O U N D
Park Nicollet has requested perm ission from the City and Economic
Development Authority to enter on to West 39th Street and the property
owned by the Economic Development Authority to perform master site
grading and to construct and install utilities before the ordinance
vacating West 39th Street has become effective and before the EDA' s
property has been conveyed to Park Nicollet. Attached is an agreement
that has been drafted by the attorney for Park Nicollet that has been
reviewed by a representative of the City Attorney's office whereby the
City and EDA permit Park Nicollet to perform the master site grading,
to excavate in West 39th Street and to construct and install utilities
subject to terms and conditions which are intended to provide
safeguards to the City and Authority should the project not go
)forward. One of these safeguards is that a letter of credit will be
provided which can be drawn upon to restore the site and West 39th
Street in the event the project does not go forward.
Recommendation
By motion approve the agreement and authorize its execution by the
President and Executive Director, subject to modifications by the EDA
attorney, as necessary.
4374:GEN43
P U BL IC WO R K S
pr-OVAL
)
N ED
FINANCE
APPROVAL
OBTAINED
CO M M U N 1 I Y UEVtELUH.
APPROVAL
OBTAINED
APPROVAL
OBTAINED
Executive Director
APPROVAL
OBTAINED
ACTION: MOTION BY 2ND BY TO
, 09 0 2-93 14:47 FAX 6123407800 DORSET WHITNEY @ o02
' $
EARLY ACCESS AGREEMENT
THIS AG RE EM EN T made and entered into thi s day of 1993
by and among the CITY OF ST. LOUIS PARK, a Minnesota Municipal corporation
("C ity "), THE ST . LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY, a public
body politic and corporation ("Authority") and PNMC HOLDINGS ("Holdings"), a
non-profit corporation organized and existing under the laws of the State of
Minnesota.
WITNESS ETH:
)
WHE RE AS , the Authority and Holdings made and entered into a Contract
For Private Redevelopment (the "Redevelopment Contract") dated April 8, 1993 to
redevelop property now owned by the Authority (the "Holdings Property") adjacent
to property now owned by Holdings; and
WHEREAS, th e Authority an d th e Frauenshuh Companies, a Minnesota
corporation ("Frauenshuh"), made and entered into a Contract For Private
Redevelopment (the "Frauenshuh C ontr act ") dated, 1993 to redevelop
property now owned by th e Authority an d the City (the "F rauen shuh Property")
adjacent to th e Holdings Property; and
W H E RE AS , development approval fo r the H oldin gs Property and the
Frauenshuh Property has been received under the Plan ned U nit Development
process provided for in Se cti on 14:6-7.0 of the City's Zoni ng Ordinance subject to a
number of conditions; and
W HE REAS , Holdings and Frauenshuh have filed an application for
approval of a final plat pursuant to Section 14-303 of the City Code upon whi ch the
Holdings Property is identified as Lots 4 and 5, Block 1, Tower Place, and the
property adjacent to the Holdings Property now owned by Holdings is identified as
Lot 1, Block 1, Tower Place, al l the Frauenshuh Property is identified as Lots 6 and 7,
Block 1, Tower Place as shown on Exhibit A attached hereto and made a part hereof;
an d
WHE RE A S, all of the conditions that must be complied w ith an d satisfied
prior to the Authority conveying title to the Holdings Property to Holdings
pursuant to the Redevelopment Contract have not been complied with and satisfied
but the Authority and Holdings believe and expect that such conditions w ill be
complied with an d satisfied within sixty (60) days after the date of this Agreement;
an d
WHEREAS, prior to the conveyance of th e title to th e Holdings Property to
H oldings and the vacation of the easement for West 39th Street and while the title
to the F rauenshuh Property is held by the Authority, the City, or Frauens huh ,
0902-93 14:47 FAX 6123407800 DORSET WHITNEY Z] 003
Holdings desires to do and perform master site grading and to construct and install
utilities necessary for development as required by the Redevelopment Contract on
the Holdings Property, in the West 39th Street easement area and on the
Frauenshuh Property pursuant to plans and specifications w hich have been or must
be approved by the Authority and the City (herein collectively referred to as the
"Site Improvements"); and
WHERE AS , the Authority is willing to permit Holdings to do, perform,
construct and install the Site Improvements subject to the terms and conditions of
this Agreement.
NOW, THEREFORE, in consideration of the premises and other good and
valua ble consideration, th e receipt and sufficiency of which is acknowledged by each
of the parties hereto, the parties hereto do hereby covenant and agree as follows:
1. The City and the Authority each hereby agree to permit Holdings to do,
perform, construct and install the Site Improvements, subject to the following:
(a) The prior submission of an erosion control plan pursuant to
Section 14:14-10 of the City's Zoning Ordinance and Site Improvement plans and
specifications and approval thereof by the Authority and the City;
(b) The prior providing to the City and the Authority of a letter of
credit in a form acceptable to the City and the Authority in an amount equal to
5 200,000 that can be drawn upon by the City and the Authority in the event
that title to the Holdings Property or any part thereof is not conveyed by the
Authority to Holdings by January 31, 1994 to pay the costs and expenses of (i)
importing fill material to provide positive drainage off of the Holdings Property and
the Frauenshuh Property, (ii) reestablishing the turf on the Holdings Property and
the Frauenshuh Property, and (iii) any necessary restoration of the West 39th Street
easement area and street resulting from the construction and installation of the Site
Improvements by Holdings; and
(c) The providing to the City and the Authority of a sworn
construction affidavit setting forth the names, addresses, phone numbers and
estimated cost of all persons or entities contributing labor or material to the Site
Improvements, including without limitation all design professionals, at any time
and from time to time as contracts or subcontracts covering any portion of the Site
Improvements are awarded.
(d) The obtaining of a consent by Frauenshuh to this Agreement
and the rights granted to Holdings under this Agreement and a waiver and release
by Frauenshuh of any and all causes of actions and claims which may arise from the
construction of the Site Improvements by Holdings, including but not limited to
2
0902-93 14:48 FAI 6123407800 DORSEY WHITNEY
--
"
)
:-
any ri ghts an d rem edies avail able to Frauens huh under th e Frauens huh C ontract,: 5
which consent, w ai ver an d rel eas e m ust be in form an d content reasonably' ';
accept able to th e A uthority 's attorney an d th e C ity 's att orn ey.
2. H oldin gs shal l in cl ude in every contr act H oldin gs en ters in to with ---
every contr act or, subcontr act or, m ateri alm an or supplier ("Claimant") w hi ch could 3
fil e a li en on the H oldin gs P roper ty, the Frauens huh Property or W es t 39th Stree t as
a res ul t of th e Site Improvements, lan gu age reasonably acceptable to th e A uth ority's;
att orn ey an d th e C ity 's attorney w hereby th e Cl aim an t w ai ves the right to fil e a j=
m ech ani c lien agai ns t th e Holdin gs P roperty , th e Frauenshuh Property or West 39th;
Street as a resul t of th e Site Improvem en ts or brin g a cl aim agains t th e Authority or ;
th e C ity with res pect to th e Site Im provem en ts and such contract shall be en ter ed ;
in to bef ore such Cl ai m an t enter s the Holdin gs Property , th e Frauenshuh Property or;
West 39th Str ee t. Th e Authority an d th e Ci ty al so res erv e th e right to post and : =
maintain signs on th e H oldings Property, th e Frauens huh Pr oper ty and W est 39th .5
S tr eet in di catin g th at the A uth ori ty an d the C ity shall not be liable for un pai d ' ·5
cons tru cti on costs an d m ech ani c liens. N othin g her ein shal l preven t any such :.=
Claimant from filing a m ech ani c lien on property owned in fee by H oldin gs. The j
purp ose of th is Par agr aph 2 is to protect th e A uth ori ty, th e C ity , the Holdings 5 ·5
P roperty, th e Frauens h uh P roperty an d West 39th Stree t from cl aims of architects,. ;
en gi neers an d other C laim an ts for w ork or supplies furni shed or provided in '
connection wi th the Site Improvements in the event lack of fin an cin g or other
fa ctors res ul t in H oldings not acquirin g title to th e H oldings Proper ty an d/ or
Frauenshuh not acquir in g title to the Frauen shuh Propert y.
3. H oldin gs an d Park N icoll et M edical C enter, a Minn esota bus iness tru st
("PNM C"), her eby agr ee to in demnify , defend an d hold harm les s th e A uth ority and
th e Ci ty fr om any an d all caus es of acti on ari sin g out of H oldin gs use of the
Holdin gs P roperty , the Frauens huh Proper ty an d West 39th Str eet fo r the
cons tr ucti on of the Sit e Im provem en ts an d any an d all claim s fo r damages w hich
m ay aris e from the per form an ce by H oldin gs, or its contractors, subcontractors or
th ose for which H oldin gs is responsible, of th e Site Improvements. In th e event any
claim shall be m ade or any acti on shal l be brough t agains t the Authority or th e C ity
in respect of w hi ch ei th er th e A uth ori ty or th e C ity seeks in dem ni fication fr om
H oldin gs or P N M C hereunder , ei th er th e C ity or th e A uthority shall promptly
notify Holdin gs and PNMC in wri ting se!ting forth th e par ticu lar s of such action or
cl aim an d H oldin gs an d P NM C shall as sum e th e defense th er eof incl udin g th e:
retaining of counsel an d th e paym ent of al l ex penses. Th e C ity and th e A uth ority
shall have th e ri ght to reta in separate coun sel in any such action an d to participate
in the defense th er eo f. In th e event th e C ity reasonably determines that such
separate representation in any such act ion is necessary in order to protect the.
in terests of th e C ity or the A uth ori ty , th e fees an d ex pen ses of such separate counsel
shall be at th e ex pen se of Holdin gs. Except as provided above, the fees an d exp ens es
3
09/02/93 14:49 FAI 6123407800 DORSEY WHITNEY .@ 00s
of such separate counsel shall be at the expense of the City or the Authority unless :';
the retaining of such separate counsel has been specifically authorized by Holdings. :
4. Holdings will provide and maintain or cause to be maintained at all
times during the process of constructing the Site Improvements until the -
termination of this Agreement and, from time to time at the request of the
Authority or the City, furnish the Authority and the City with proof of payment of
premiums on comprehensive general liability insurance (including operations, :
contingent liability, operations of subcontractors, completed operations and' ' 5
contractual liability insurance) with limits against bodily injury and property • ::
damage of not less than Ten Million Dollars ($10,000,000) for each occurrence on an ;
occurrence basis and not on a claims made basis; provided however that to'
accomplish the above-required limits, an umbrella excess liability policy may be
used. If an occurrence basis policy is not available, Holdings shall purchase a claims ;
made policy with such riders as are available at commercially reasonable rates so as •
to as closely as possible duplicate occurrence basis coverage and avoid gaps in :
coverage. Such insurance shall name the Authority and the City as additional:
insureds until the termination of this Agreement, be taken out and maintained in 5
responsible insurance companies selected by Holdings which are authorized under
the laws of the State of Minnesota to assume the risks covered thereby, which are
rated by Best's and which are acceptable to the Authority and the City. Prior to
commencement of any Site Improvements, Holdings will deposit with the
Authority and the City copies of 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. Each policy shall contain a provision that the
insurer shall not refuse to renew, cancel or modify it without giving written notice
to Holdings, the Authority and the City at least sixty (60) days before the ;
nonrenewal, cancellation or modification becomes effective. Not less than fifteen
(15) days prior to the expiration of any policy, Holdings shall furnish the Authority
and the City evidence satisfactory to the Authority and the City that the policy has
been renewed or replaced by another policy conforming to the provisions of this
paragraph 4 or that there is no necessity therefor under the terms hereof.
5. Upon the occurrence of any Event of Default (as said term is used and
defined in the Redevelopment Contract) under the Redevelopment Contract, the
City and the Authority shall each have the right to terminate this Agreement upon
the Authority or the City giving Holdings written notice of such termination.
Holdings shall have the right to terminate this Agreement upon Holdings giving
the City and the Authority written notice of such termination. Notwithstanding
any termination of this Agreement, the City's rights to draw upon the letter of credit
as provided in paragraph (1)b) hereof and the obligations of Holdings and PNMC
under paragraph 3 hereof shall survive and continue after such termination. '
4
0902-93 14:50 FAX 6123407800 DORSEY WHITNEY '.: @oos
·.-
6. Holdings, at Holdings' expense, shall obtain any and all licens es, ::
permits and approvals required in order to constru ct the Site Improvements,
including but not limited to, grading and building permits, any necessary approvals.
of the Min nesota Pollution Control Agency and any required indirect source per.it., <.
7. Nothing contained in this Agreement shall be alleged or constru ed'to' i
require, or have any affect on, the terms and conditions of, or the rights and'' :'
rem edies available to the parti es hereto under, any other agreements or contracts ;
between Holdings and the Authority or the City and the parties hereto each waive '
and release the other parties hereto from any and all claims arising out of this
Agreement with resp ect thereto.
8. In the event the City undertakes any restoration of the West 39th Street
easement area and street as described in paragraph 1b)iii) above, Holdings will.
execute an d deliver to the City any temporary constru ction easement over Lot 1,
Block 1, Tower Place necessary in order for the City to perform such restoration
which easement shall be in form and content reasona bly acceptable to the City's
attorney.
9. A notice, demand or other comm uni cation under thi s Agreement by
any party to any other shall be sufficiently given or delivered if it is dispatched by
registered or certified mail, postage prepaid, return receipt requested, or delivered
) personally; an d
(a) in the case of Holdings and in the case of PNMC addressed to or
delivered personally to:
Park Nicollet Medical Center
5000 West 39th Street
St. Louis Park, Minnesota 55416
Attention: Joseph Mi tlyn g
5
09/02-93 14:51 FAX 6123407800 s
-. ··: :_._~
(b) in the case of the City, is addressed or delivered personally to:
The City Of St. Louis Park
5005 Minnetonka Boulevard
St. Louis Park, Minnesota 55416
Attn: City Manager;
DORSEY WHITNEY
wi th a copy to:
James R. Steilen, Esq.
Popham, Haik, Schnobrich & Kaufman, Ltd.
3300 Piper Jaffray Tower
222 South Ninth Street
Minneapolis, Minnesota 55402
(c) in the case of the Authority, is addressed or delivered personally to:' ;
13
The St. Louis Park Economic Development Authority ,:$
5005 Minnetonka Boulevard r-2.
St. Louis Park, Minnesota 55416 v75;
Attn: Executive Director; --? '·· .·-J
with a copy to:
James R Steilen, Esq.
Popham, Haik, Schnobrich & Kaufman, Ltd.
3300 Piper Jaffray Tower
222 South Ninth Street
Minneapolis, Minnesota 55402
or at such other address with respect to any such Party as that party may, from time
to time, designate in writing and forward to the other, as provided in this section.
6
IN WITN ESS WHE RE OF, each of the parties hereto has caused this
Agreement to be duly executed in its name and on its behalf on or as of the date first
above written.
THE CITY OF ST. LOUIS PARK
By _
Its _
And _
Its _
ATTEST:
City Clerk
RE VIEWE D FOR ADMINI STRA TION: AP PROVED AS TO FORM AN D
EXECUTI ON:
)
City Manager City Attorney
THE ST. LOUIS PARK
DEVEL OPMENT AUTHORITY
By _
Its President
And. _
Its Executive Director
7
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PNM C HOLDIN GS
By _
Its President
And _
Its Vice President
PARK NI COLLET ME DICAL CENTER
By _
Its President and
Chief Executive Officer
And. _
Its Vice President and
Chief Executive Officer
8
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S e p t e m b e r 7 , 19 9 3
ED A N o . 2
8/31/93
P A R K N ICO LLE T PROJ ECT SCH ED ULE
September 7
September 14
September 20
)
September 29
September 30
October 4
October 18
December 6
Second reading of vacation ordinance providing
deed from Park Nicollet and Med Center back
to City has been escrowed
First reading of ordinance conveying portion of
Park Center Boulevard being vacated to EDA
Resolution Committing to Construct
Improvements Required by ISP
Street
City and EDA Approval of Early Access Agreement
Master site grading commences
Off-site Public Improvements Feasibility Study -
Establish Project and Order Hearing
Approval of Development Agreement
Final Plat Approval
Second reading of ordinance conveying portion of
Park Center Boulevard being vacated to EDA
Bonds Close
Vacation ordinance becomes effective; conveyance
of land by EDA to PNMC Holdings
EDA Awards Contract for Construction of Ramp
Off-site Public Improvements - Public Hearing
Project Ordered, Plan/specifications
approved, bids authorized
Award Off-Site Public Improvements Contract
? 4302:GEN43
R E Q U E S T F O R E D A A C T IO N
DATE September 7, 1993
AGENDA SECTION:
NO.
ORIGINATING DEPARTMENT:
Community Development
ITEM:
NO. 3
Approval of Modifications to
Contract for SPS Companies
APPRlf.lt,D: David Hagen, Director
BACKGROUND
At the August 16 EDA meeting Suburban Plumbing was authorized to enter
onto the EDA owned property to drill soil borings for the purpose of
testing for the presence of contamination. Low levels of diesel fuel
range contaminants (possibly hydraulic oil) were found in one boring
at 15 and 25 feet respectively. These concentrations are below the
recommended allowable limit and PCA has indicated to Suburban Plumbing
that a closure letter on this discovery will be issued shortly.
An update on the status of the project will be provided and
modifications to the agreement may be requested on Tuesday evening
based on discussions that occur between now and then.
'4381:GEN43
PUBLIC WORKS FINANCE
APPROVAL {APPROVAL [APPROVAL [APPROVAL [APPROVAL /), ,
{OBTAINED [OBTAINED OBTAINED [OBTAINED [OBTAINED (/A) [7 __)\-----'------____J,__ ---1...:_--=----L...:...:----=-=----~..:1L.L.-l----l
CO#MUNI I Y DUtEVELUH. Executive Director
ACTION: MOTION BY 2ND BY TO
S e p t e m b e r 7 , 19 9 3
E D A
TO: Economic Development Authority
THROUGH: Charlie Meyer, Executive Director /7
FROM: Kathleen McBride, Finance Director
Don Rambow, Asst. Finance Director
SUBJECT: August, 1993 EDA Monthly Statement
)
The Combining Statement of Revenue and Expenditures, the Individual Statement
of Revenue and Expenditures and the Schedule of Investments provides in
summary form the financial position of the EDA.
Revenue collect i ans reflect reimbursement from Frauenshuh for cost incurred
related to the Park Nicollet development and interest received on investments
which matured during August.
Significant expenditures reflect the semi-annual interest payment on the 1990
bond sale and reimbursement to the City for the EDA share of cost related to
reconstruction of the TH7 & La. Ave. intersection.
St. Louis Park Economic Development Authority
Combining Statement of Revenue and Expenditures
Budget and Actual
For Period Ending August 31, 1993
YTD Balance Percent
Collected/ Uncollec./ Collected/
Budget Expended Unexpend. Expended
Revenue -------- --------- --------- --------- -------
Tax increment $2,331,371 $1,593,027 $738,344 68%
Rent 4,680 3,120 1,560 67
Interest 555,000 645,308 g9.39g) 116
Transfers 4,057,652 504,000 3, 53,652 12
Refunds & Reimburse 175,000 248,333 (73,333)
--------- --------- --------- Total Revenue 7,123,703 2,993,788 4,129,915 42
--------- --------- ---------
Expenditures
------------ Administrative
Salaries 84,000 26,500 57,500 32
Employee benefits 17,170 5,345 11,825 31
Supplies & other chgs. 5,420 2,338 3,082 43
Legal 7,200 2,303 4,897 32
Contractual 1,700 480 1,220 28
Planning 10,000 21,977 (11,977) 220
--------- --------- --------- Total Administrative 125,490 58,943 66,547 47
--------- --------- ---------
)
Project Cost
Appraisal/survey
Legal 75,000 86,843 (11,843) 116
Environ. analysis 43,300 41,456 1,844 96
Public improvement 6,743,500 1,837,685 4,905,815 27
Relocation/demolition 95,000 77,266 17,734 81
Property taxes 74,362 74,362
Acquisition 1,824,800 164,704 1,660,096 9
Environ. remediation 62,500 62,500
Referendum payment 340,000 340,000
Property Maintenance 16,500 2,257 14,243 14
Other services 30,500 3,667 26,833 12
Transfers 3,553,652 3,553,652
---------- --------- ----------
Total Project Costs 12,859,114 2,213,878 10,645,236 17
---------- --------- ---------- Debt Service
Bond interest 504,000 504,000 100
Transfer 504,000 504,000 100
Inter-govt., City 620,000 620,000 100
Bond agent fees
--------- --------- --------- Total Debt Service 1,628,000 1,628,000 100
---------- --------- ----------
Total Expenditures 14,612,604 3,900,821 10,711,783 27
---------- --------- ---------- Revenue over (under)
Expenditures (7,488,901) (907,033)(6,581,868) 12
========= ========= ========= » »
?
St. Louis Park Economic Development Authorit
Individual Statement Of Revenue And Expenditures
For Period Ending August 31, 1993
)
Excelsior Oak Park Trunk Capit al Debt
Revenue Blvd Village Hwy 7 Projects Service To tal
------- --------- -------- ------- -------- ------- -------
Tax increment $1,031,179 $199,755 $362,093 $ $ $1,593,027
Rent 3,120 3,120
Interest 398,971 42,548 50,842 131,927 21,020 645,308
Transfers 504,000 504,000
Refund/reimburse 248,333 248,333
--------- ------- ------- ------- ------- --------- Total Revenue 1,678,483 245,423 412,935 131,927 525,020 2,993,788
--------- ------- ------- ------- ------- --------- Expenditures
------------
Administrative
Salaries 11 ,695 5,825 8,980 26,500
Employee benefits 1,811 1,126 2,408 5,345
Supplies & other chgs. 1,275 470 593 2,338
Legal 768 768 767 2,303
Contractual 160 160 160 480
Planning 21,977 21,977
--------- ------- ------- ------- ------- ---------
Total Administrative 37,686 8,349 12,908 58,943
--------- ------- ------- ------- ------- ---------
Project Cost
Appraisal/survey
Legal 86,423 420 86,843
) Environ. analysis 38,756 2,700 41,456
Public improvement 12,371 1,825,314 1,837,685
Relocation/demolition 77 ,266 77,266
Property tax
Acquisition 40,074 124,630 164,704
Re erendum payment
Property maintenance 2,257 2,257
Other services 847 2,820 3,667
--------- ------- --------- ------- ------- ---------
Total Project Costs 257,994 1,955,884 2,213,878
--------- ------- --------- ------- ------- ---------
Debt Service
Bond interest 504,000 504,000
Transfer 504,000 504,000
Inter-govt., City 620,000 620,000
Bond agent fees
--------- ------- --------- ------- ------- ---------
To tal Debt Service 1,124,000 504,000 1,628,000
--------- ------- --------- ------- ------- ---------
Total Expendit ures 1,419,680 8,349 1,968,792 504,000 3,900,821
--------- ------- --------- ------- ------- ---------
Revenue over (under)
Expenditures 258,803 237,074 (1,555,857) 131,927 21,020 (907,033)
--------- ------- --------- ------- ------- --------- ------- --------- ------- -------
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
SCHEDULE OF INVESTMENTS
AUGUST 31, 1993
Date
Investments --------------------
Institution/Type Yield Purchase Maturity Balance
---------------- -------- -------- -------
Park National - C.D . 4.55 05-05-92 09-13-93 $1,000,000
Park Investment - Treas. 4.67 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 2,513,944
1st Banks - FC 3.77 12-10-92 12-01-93 750,000
Dain Bosworth - FC 4.03 07-08-92 12-02-93 1,000,000
Park Investment - C.P . 3.47 06-10-93 01-10-94 1,17 6,010
Park Investment - FNMA 4.08 07-10-92 01-10-94 955,000
Paine Webber - FHL 3.53 09-10-92 01-25-94 800,000
Dain Bosworth-Treas. 3.42 09-10-92 01-31-94 390,000
Park National - C.D . 3.75 02-02-93 01-31-94 500,000
1st Banks - FHL 3.92 08-10-92 02-25-94 460,000
1st Banks - FHL 4.30 12-01-92 02-25-94 1,040,000
1st Banks - FHL 5.35 02-28-91 02-28-94 500,000
1st Banks - FC 5.80 04-01-92 04-04-94 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 1,050,000
Dain Bosworth - Treas. 4.09 12-28-92 04-30-94 650,000
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 1,000,000
Park National - C.D . 3.55 04-30-93 09-07-94 1,250,000
1st Banks - Treas. 3.57 07-07-93 09-30-94 1,015,757
4M Fund Various Open 416,877
----------
Total Investments $23,224,194 ---------- ----------
Legend : C.D . = Certificate of Deposit
C.P . = Commercial Paper
F.C . = Farm Credit
F.N .M .A . = Federal National Mortgage Assn.
F.H .L .B. = Federal Home Loan Bank
Treas. = U.S. Treasury Bonds
Gov't Agencies = Term U.S. Government Securities
V E N D O R C L A I M S
E c o n o m i c D e v e l o p m e n t A u t h o r i t y -S t . L o u i s P a r k
S e p t e mb e r 7 , 1 9 9 3
V e n d o r
B a r t o n -A s c h m a n A s s o c i a t e s , I n c .
D e t e r m a n W e l d i n g & Tank Service
Legend Technical Services
C. S. McCrossan Construction
MN Pollution Control Agency
Minn Sun Publications
Noble Display Inc.
Noble Nursery Retail, Inc.
Popham, Haik, Schnobrich
City of St. Louis Park
S & T Lawn Service, Inc.
STS Consultants, Ltd.
Trans Con, Inc.
Description
Professional services
Professional services
Professional services
Supplies
Services
Publish & advertise
Supplies
Landscaping services
Legal services-June & July
Reimburse salaries & expenses
Services
Professional services
Services
Amount
TOTAL
$ 396.87
15,400.82
8,095.00
186.57
1,815.28
62.70
202.35
7,001.50
35,505.22
44,285.00
1,645.00
46,026.89
5,787.92
$166,411.12
) Accounting Dept. lo y1'1'<"" Dated 5//2 /73
Executive Director· _ ___.~airJt~~~~2~~~~'#!!_~._ _ _JDated .2 * J ..r
PO PHAM, HAIK, SCHNOBRICH, & KA UFMAN, LTD.
Client No: 11959
REMIT TO
MINNEAPOLIS OFFICE
3300 PIPER JAFFRAY TOWER
222 SOUTH 9TH STREET
MINNEAPOLIS, MINNESOTA 55402
TELEPHONE
612-333--1800
OENVER OFFICE
1200 SEVENTEENTH STREET
SUITE 2400
OENVER. COLORADO 80202
TELEPHONE
303-893-1200
WASHINGTON OFFICE
1300 1 STREET N.W. ·
SUITE 500 EAST
WASHINGTON. D.C. 20005
TELEPHONE
202-962-8700
MIAMI OFFICE
4000 INTERNATIONAL PLA CE
100 S.E. SECONO STREET
MIAMI. FL 33131
TELEPHONE
305--530-0050
Page: 23
St Louis Park Economic Development Authority
July 29, 1993
PLEASE RETURN THIS PORTION WITH REMITTANCE
7a ue 17 13
COMBINED BILLING SUMMAR Y
Client/Matter
11959 St. Louis Park Economic Development
Authority
4
5
11
)
13
14
15
16
Meetings
On The Avenue Project
T.I.F. Project
Suburban Plumb ing Project
Park Nicollet Project
Tower Site Environmental Matter
Water Tower Property Tital
Registration
TOTALS:
3.0
14.6
8.8
10.0
14.2
59.1
14.5
124.2
$503.99
$2,091.50
$1,449.00
$1,665.50
$2,534.00
$7,371.00
$1,548.50
$17,163.49
Expenses
$.00
$743.26
$.00
$.00
$97.17
$175.81
$15.16
$1,031.40
Popham. Haik. Schnobrich. & Kaufman. LTD,
3300 Poer Jaffrav Tower • 222 So. 9th St. • Minneapolis. MN 55402
PO PH A M , HA IK , SC H N O B R ICH, & KA UFM A N, LTD . REMIT TO
MINNEAPOLIS OFFICE
3300 PIPER JAFFRAY TOWER
222 SOUTH 9TH STREET
MINNEAPOLIS. MINNESOTA 55402
TELEPHONE
612--333-4800
DENVER OFFICE
1200 SEVENTEENTH STREET
SUITE 2400
OENVER. COLORADO 30202
TELEPHONE
303-893- 1200
WASHINGTON OFFICE
1300 I STREET N.W,
SUITE 500 EAST
WASHINGTON. 0.C. 20005
TELEPHONE
202--962-8700
M IA M I OFFICE
4000 INTERNATIONAL PLACE
100 S.E. SECONDO STREET
M IA M I, FL 33131
TELEPHONE
305--530-0050
Client No: 11959 Page: 20
St Louis Park Economic
August 19, 1993
PLEASE RETURN THIS PORTION WITH REMITTANCE
71y )%43
C O MB INE D BIL L IN G SUMMAR Y
Client/Matter Time Expenses
11959 St. Louis Park Economic Development
Authority
1 Level I General Matters .1 $8.92 $.00
4 Meetings .6 $72.45 $.00
5 On The Avenue Project 18.2 $2,635.00 $139.64
) 13 Suburban Plumb ing Project 12.3 $2,320.00 $51.40
14 Park Nicollet Project 27.9 $5,199.00 $391.58
15 Tower Site Environmental Matter 19.6 $2,720.00 $43.93
16 Water Tower Property Tital 28.2 $3,255.00 $473.41
Registration
TOTALS: 106.9 $16,210.37 $1,099.96
Popham. Haik, Schnobrich. & Kaufman. LTD.
3 3 (() D2 o r .1a ffra y T w a r % 99 9 ¢/ Q#h C F • Mirra=ski»