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06/03/1986
MEMO TO: Mayor and City Council FROM: John K. Anderson, City Administrator RE: Non-Agenda Informational Items DATE: May 30 , 1986 1 . The City has been served papers on behalf of the woman who was hit by a truck at Lewis and 101 . Copies have been forwarded to our insurance company and legal staff . 2. Attached is a recent article from the Shakopee Valley News regarding the east end neighborhood clean up. 3 . Attached is a letter from the County Assessor ' s office regardinig the value of the Sundance Medical Clinic and the Shakopee Professional Building. 4 . Attached is a nice thank you letter to LeRoy from Canterbury Downs. 5 . Attached is the 1987 budget calendar. 6 . The manager at Flying Cloud asked Judi Simac to send the attached invitation to the July 20th Open House as an info item to Council. 7 . Attached is a letter from the Scott County Transportation Coalition regardind contributions and pledges to date. 8 . Attached is the monthly calendar for June. 9 . Attached are the April 23 , 1986 minutes of the Industrial Commercial Commission. 10. Attached are the May 1 , 1986 minutes of the Shakopee Coalition. 11 . Attached are the May 8 , 1986 and May 22 , 1986 minutes of the Planning Commission. 12. Attached are the May 8 , 1986 minutes of the Board of Adjustment and Appeals. 13 . Attached are the June 5 , 1986 agendas for the Board of Adjustment and Appeals and Planning Commission meetings. 14 . Attached is a memo from the Scott County Highway Engineer regarding the temporary closure of CSAH 17 (Marschall Road) between C.R. 42 and 11th Avenue. 15 . I was not the successful candidate for the position in Portland, Oregon so I will not be leaving the City of Shakopee. FGCs having undeveloped Ian �etweenhe pleaded gouty to seconu-uegree alui uCl over an evidentiary dispute with Scott Belle developed land and you. on Monday. She said the Scott County Tran- The change in plea is part of an County Sheriff Douglas Tietz. a was ` are "fully sportation Coalition, which believes agreement with prosecutors who arrested in Arizona in late January. € ieapolis, St. that funding for the County Road 18 promised to drop a first-degree murdea served in this tragic that ands unfortunate of suburbs, bridge is affected by the FGC charge in exchange for the guilty p J + classification, also believes that there to second-degree murder. First-degree incident that occurred near Elko on is a special is no longer any undeveloped area murder convictisonmentons tesentence; release following Weierke'slchange in ! .er urban nor between Shakopee and the com- sentendatorycing life suggest 10 years plea. t investments munities across the river. sentencing guidelines mined by.the "We're now pursuing the idea of a in prison for a second-degree murder theMvictimand accused cope is that the an families orward, developed and regional business center," Simac conviction. commented. Weierke has now admitted to killing without the misery that accompanied pastasld man them the m eir e Met Council The Regional Business Concentration Richard Melony, an hlafter an alleged lies with much fulfillment as illmenlive t nessas intain existing classification has been set up for areas who was shot to rural my money into that are good locations not want o be in . The s drug eal at plea bargain'sagreementemust possible." held is still being hel Judge e Scott industries thatted by Jail, pending MDIF is that the metropolitan area, butswant still be accE till District Judge John Fitzgerald. County zgerald's decision on the plea bargain i period of slow regional highway acce , em- Weierke was the subject of a and sentencing. baby boom," potential, railroad tracks and an s to manage ployment base. efficient, or To become a RBC, a city must have y ; employment of 10,000 or more jobs, or h 4 � n has been retail sales of$100 million or more each M r , Tient of funds in year. arks, Simac said the Met Council said it y - sports, p , t � ;tion. Highest will support continued growth in RBCS z /.l.(c62r. a4, a3 ment in the and that the investment priority in r s '»- mcentration on those areas is second only to metro Lowest priority centers such as Minneapolis. :nt." y �sx qhs• �%h3�f c di that any new Simac said she is preparing com- �v opee are a low ments on behalf of Shakopee to take to ncil. the June 25 public hearing in Eden , y� rities will affect Prairie. y %- tl for tran- - Y before she goes to they Antenance and However city officials will talk about :ig investments meeting, "Simac said. some of these issues and give her some � ��, •, , the city may ideas. � ,�� �..- � � ,..�. � .: 4�'.` •' �- :obeconsidered The city is trying to rid the east side of unsightly scenes like this. On May 29, the city council and operates on its planning commission will hold a joint (Staff photo by Bob Cole) share the Blue workshop at 7:30 P.M. in order to } nter, we are discuss these issues. Neighborhood has l�O cleanup By Beth Forkner Moe businesses without a permit. The Staff Writer meeting will also cover codes involving e Property owners on the east side of unlicensed pets, pets annoying le, and pets that are not on the e Continued from Page 1 Shakopee who have junk in their yards people, th � have almost run out of time to clean it ander obedience control.on a leash or UP Howard Jones, Shakopee's code i the evenings. I had two boys and two girls.When my the obje object if that special patrol.1Citat ons enforcement officer, withell areagin r birthdays and special parties I would plan the June 1. He said that people who have ntertainment.I was closer to my kids than kids will be given out to people who are in systematically p ;t reason. violation of city codes. will be held i r tried to make ends meet part way by my helping An informational meeting not had a previous warning and who are Road day grace period o comply with the he working for a tiler and part-time in a canning n f9rtolrev review city living codes.fThe meeting at the May 28 meeting will have a 3 lot want a babysitter,we wanted to raise our will be held on Wednesday, May 28, 7 city's codes. us just worked while the other stayed home with the P m at Shakopee City Hall. Those who have already been given ristian life and bringing up your family in a Christian According to a memo by City Ad- warnings and not yet complied with the Ti kids to live an honest life.I also sent my lids to a ministrator John Andersoa, the codes code will be given a court order. Other Y that are of immediate concern will be violators will be given a warninbefore and I believe you and should if there is one nearby or else - inoperable erable will have 10 days to comply nday School. I always helped them with their Sunday vehicles refuse n and/or e property,vehicles without a being given a court odeesiring r,Jones information ;rade school work. rrent Wednesday it others have as good luck as I had with raising a more than three vehicles per parking can contact 445-6 Monday, think that this is a good recipe for living., noise violation and operating or Friday at 445-GG66• G. MARTIN Ing*' DON I SCOTT COUNTY ASSESSOR COURT HOUSE 112 SHAKOPEE, MN 55379-1381 (612)-445-7750 , Ext . 115 April 25, 1986 John Anderson City Administrator Shakopee City Hall 124 East 1st Avenue Shakopee , MN 55379 Gear John , The information which you requested on the Sundance Medical Clinic and the Shakopee Professional Building is listed below: 27-004139-0 Sundance Clinic 1986 Estimated Market Value $267,700 When comparing this building to the Sundance Clinic in Jordan , the Park Nicollet Medical Center in Shakopee , and the Park Nicollet Medical Center in Prior Lake , the value , in my opinion , is correct when factors such as size , age , and condition are considered. I see nothing that would point to an unequalized value for the Sundance property. 27-087008-0 Shakopee Professional Building 1986 Estimated Market Value $255,000 This value was arrived at by using the income and expense statement for 1985 as provided us by Thomas Nygaard. This method was also used for the office buildings owned by Mr . Allen Furrie , et al , which are located in Furrie's 1st Addition . I again can state , in my professional opinion , that the value on the Shakopee Professional Building is fair and ,lust when examined in this context . I hope this answers any questions which you may have had. Sincerely, Robert N. Schmitt Scott County Assessor's Office MEDICAL CLINICS IN COUNTY 3 27-004139-0 Sundance Clinic Built 1960 with additions in 1968 and 1980 Total area 1986 EMV ($267,700 total ) 1/0 3486 Sq .ft . 51 .70 - 227.. = 40 .30 p e r Sq .f t . 2/B 1092 Sq .ft . 80 .50 - 1 1'/. = 71 .65 per Sq .ft . 22-919051-0 Jordan Clinic Built 1974 Pre-Fab Construction 1/0 2420 Sq .ft . a1 41 .40 per Sq .ft . 1986 EMV ($117,400) 27-907020-0 Park Nicollet Medical Center (Shakopee Location) Built 1973 1/8 8480 Sq .ft . 49.90 - 10r: = 44.90 per Sq .ft . 1986 EMV ($625,400) 25-174001-0 Park Nicollet Medical Center (Prior Lake Location) Built 1980 1/8 3476 Sq .ft . 1@ 53.70 per Sq .ft . 1986 EMV ($256,600) 27-087008-0 Shakopee Professional Building 1986 EMV ($255,000 total ) Based on income from 1985 provided by Thomas � 7 Nygaard of the Scandi Company, who manages � 1 the property for the owner Guenther Roth . L� 27-068003-0 Valley Health Properties 1986 EMV ($341 ,700) lu 27-068004-0 Shakopee Professional Group 1986 EMV ($530 ,500) cA1vTfRBuRr D O W N S 71 May 15, 1986 1 $ Mr . LeRoy Houser City Of Shakopee 129 First Avenue Shakopee, MN 55379 Dear Mr. Houser: I want to take this opportunity to thank you for the time spent with us on Wednesday, May 14, 1986 . Your expertise, opinions, and assistance in finding a solution to our inadequate housing problem is greatly appreciated. The cooperation you and the City Of Shakopee have shown on our behalf is truly appreciated. We have not as yet determined how we will proceed on this housing matter, but I do want to let you know how much I appreciate your time. Sincerely, / 14L'I� Peter H. Huber Director of Physical Plant PHH/td 0144G cc: Stan Bowker Canterbury Downs/1100 County Road 83/P.O. Box 508/Shakopee, Minnesota 55379/16121 445-7223 5` TO: John K. Anderson, City Administrator FROM: Gregg Voxland, Finance Director RE: 1987 Budget Calendar (Tentative) DATE: May 20, 1986 June 15 Capital Equipment List due back to Finance. (equipment must be justified especially due to the demise of Revenue Sharing) June 24 Committee discusses Equipment List July 1 Council discusses Equipment List. July 10 Department Heads receive budget worksheets. Department Heads receive 6 month operating statements . July 18 Budget requests due back to Finance (budget at "needs" with required list of cuts) . August 19 Council receives and discusses budget. August 26 Budget work session. Sept. 2 Public Hearings - budget in total and Revenue Sharing Last levy date for special assessments. Sept. 9 Reserved for budget work session if needed. Sept. 23 Reserved for budget work session if needed. Sept. 30 Reserved for budget work session if needed. Oct. 7 Regular Council meeting - approve budget, tax levy. Oct. 10 Deadline for certifing tax levy to county. Note: Total of four work sessions if needed. PRESS RELEASE MAY 20, 1986 FOR FURTHER INFORMATION CALL BOB PALMBY FAA FLYING CLOUD TOWER (612) 941-1188 JULY 20, 1586 OPEN HOUSE AT FLYING CLOUD AIRPORT 8 AM TO 8 PN AIRPORT ADMISSION ---.---------FREE Start the day off with a delicious Pancake Breakfast. The Zurrah Shrine Flyers are once again providing their famous FLYIN/DRIVEIN/KUXIN pancake and sausage breakfast, starting at 7 am. After the breakfast, plan on a full and exciting day at Flying Cloud Airport. Bring your walking shoes because the entire airport will be open for Viewing, with exciting displays throughout. During 1986, the entire FAA will be celebrating its 50th year of Aix Traffic Control. Flying Cloud Tower has beer: in operation since 1963, and as a past of the national celebration, FAA personnel will provide an opportunity for the public to learn more about this fasciratinq occupation. Hopefully, a closed . circuit TV system will be in operation providing live coverage of. the Flying Cloud Tower operation, complete with radios tuned to the tower freLTiencies, a viewing area for watching the airplanes, and several FAA representatives to explain the various responsibilities and services that are provided by the FAA. In addition, the Flying Cloud Airport Businessmen's Association are planning on making this "OPEN AIRPORT" an everit to remember. Aircraft of all types will be on display at various locations on the airport. These will include many antique military aircraft, homebuilt planes, helicopters, and the modern airplanes that are used for flight training, charters, and pleasure flying. Airrides, with proceeds going to various charities, will be available throughout the day. PROCEEDS FROM THIS EVENT GO TO SEVERAL LOCAL CHARITIES. ADMISSION TO THE AIRPORT IS FREE. ***************************************************************************** www. Scott County Transportation Coalition P.O. BOX 153 SHAKOPEE,MN 55379 May 23 , 1986 R MEMBERS OF THE COALITION: 1 Scott County Board ;"; CITY OF of Commissioners Cities of: Scott County Commissioners Belle Plaine 428 South Holmes Street _ Elko Shakopee, MN 55379 Jordan New Market New Prague Prior Lake Mayor Eldon Reinke and Savage Shakopee Members of the City Council Townships of: City of Shakopee Belle Plaine 129 E. First Avenue Blakeley Cedar Lake Shakopee, MN 55379 Credit River Helena Jackson Dear County Commissioners, Mayor Reinke, and Louisville New Market Members of the City Council: St.Lawrence Sand Creek Spring Lake As you know, the Coalition is working diligently to promote Chambers of Commerce: better roads to, from and through Scott County. We appreciate Prior Lake the funding you have provided to the Coalition. Savage Shakopee Industrial Commissions: We are trying to raise additional funding from industry, Prior Lake recreation, and residents now. Shakopee Attractions: We will keep you informed concerning the success of these Canterbury Downs efforts. To date, we have received contributions and pledges Race Track Murphv's Landing from the following public entities and people: Little Six Bingo Renaissance Festival Vallevfair Family Received Pledged Amusement Park Ex-officio Members: FABCON, Inc. $ 200 Minnesota Department of O 100 Transportation Walden 5 Hennepin Courcy Highway Department Hillview Motel 20 Metropolitan Council John L. Ries, S r. 15 Elk River Concrete Products 250 Ray Joachim 25 Brian Norris 35 Timothy Keane 20 Waconia Land and Cattle 25 Canterbury Downs 2, 730 8 , 190 The Scottland Companies 5 , 507 3 , 370 $13, 797 In addition, volunteer personnel from Canterbury Downs, The Scottland Companies, Valleyfair, Citizens State Bank, work with us weekly to accomplish our goals. 7 May 23 , 1986 Page 2 Enclosed are related commitment letters from the contributors. If you have any questions, please call. Very truly yours, Brian Norris Treasurer Scott County Coalition C.C. Joseph Ries, Scott County Administrator John Anderson, City Administrator CANTLWURY D O W N 5 May 22, 1986 Mr. Mark Stromwall, Chairman Scott County Transportation Coalition, Inc . Post Office Box 153 Shakopee, Mn 55379 Dear Chairman Stromwall : On behalf of Minnesota Racetrack, Inc. its Board of Directors, its Officers, and its Shareholders - Brooks Fields, Brooks Hauser, North American Life and Casualty, Inc . , The Scottland Companies, and Santa Anita - we are pleased to be able to contribute a total of $10, 920. 00 to further the work of the Transportation Coalition. Please find enclosed our first quarterly check in the amount of $2 , 730 . 00. lie will forward the remaining checks on July 1, October 1, and January 1, 1987. Sinc_e�ely, W. Brooks Fields President/Chief Executive Officer Brooks Hauser, Executi Stanley Bowker, Vice President Vice President and General Manager WBF/ghs Canterbury Downs/1 100 County Road 83/P.O. Box 508/Shakopee, Minnesota 55379/16121 445-7223 OrTHE ,V SCOTTLAN D COMPANIES May 22, 1986 Scott County Transportation Coalition P. 0. Box 153 Shakopee, MN 55379 RE: Contribution Dear Members of the Scott County Transportation Coalition: The Scottland Companies and North American Life and Casualty Company, as general partners who jointly own and develop Canterbury Park, have worked for years to help make the City of Shakopee and Scott County a better place in which to live, work, invest, and recreate. We appreciate the hard work the Coalition and its members have done to bring about a better transporation system to serve this area. In furtherance of this work we commit to contribute $5,507 to the Coalition, as suggested by the Coalition' s guidelines, spread over three equal payments of $1 , 835 each, payable on July 1 , 1986 , October 1 , 1986 , and December 1 , 1986 . This contribution is in addition to the time our staff spends and our prior, present, and future expenditures we have made and will make with our consultants, in furtherance of this very important goal. If we can help in any other ways, please inform us. Very truly yours, W. Brooks Fields J. Brooks Hauser Chairman of the Board President The Scottland Companies The Scottland Companies 0 �-�2-P� Bruce D. Malkerson Ronald M. Clark Executive Vice President North American Life and The Scottland Companies Casualty Company Timothy J. Keane Vice Presi ent The Scottland Companies 5244 Valley Industrial Boulevard South Shakopee, Minnesota 55379 [612] 445-3242 JUNE 1986 SUNDAY MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATUFDA"i 1 Public 2 City 3 4 Planning 5 6 7 Utilities Council Commission i 4 : 30 p.m. 7 : 00 p.m. 7 : 30 p.m. I I — 8 9 City 10 ICC 11 12 13 14 Council 5 : 00 p.m. 7 : 00 p.m. i .. 15 Comm. Serv16 City 17 Downtown 18 Energy & 19 20 21 7 : 30 p.m. Council Committee Transportatio Fire Dept. 7 : 00 p.m 8 : 00 p.m. 7 : 30 p.m. 8 : 00 p.m. i 22 23 24 Met 25 Picnic 26 27 28 Council Public Hearin MDIF 7 : 00 p.m. Eden Prairie 29 30 MINUTES INDUSTRIAL COMMERCIAL COMMISSION SHAKOPEE, MINNESOTA APRIL 23 , 1986 MEMBERS PRESENT: Al Furrie, Chairman John Manahan Jim O'Neill Donald Koopmann MEMBERS ABSENT: Tim Keane Jane DuBois Bud Berens CITY STAFF PRESENT: John K. Anderson, City Administrator Barry A. Stock, Administrative Aide Chairman Furrie called the meeting to order at 5 : 15 p.m. and roll call was noted. Community Development Staffing: The City Administrator informed the ICC that at its Work Session on April 16, 1986 the City Council tentatively agreed to a phased implementation of the staffing analysis plan developed from the result of the consultant' s staffing needs analysis. He outlined the suggested departmental structure which will be increased by one new planner position and the full-time Community Development support of a secretary. There was a review of the assigned duties of each position. Jim O'Neill suggested one of the positions also screen projects for project viability. The City Administrator indicated that this assignment could be added to either the Community Development or Economic Development position; also, a Developers Advocate assignment will be added to the Economic Development position. He advised that there will be some office relocations, and to contact him with any additional suggestions. Merchant' s Hotel Developer - Pow-Bel Construction: The City Administrator informed the ICC of the Community Development Block Grant application to renovate the Merchant' s Hotel. Renovation plans include first floor offices for the Scott-Carver Economic Council. There was brief general discussion of a major redevelopment of the Minnesota Valley Mall for an ice arena. ICC Goals & Objectives/Reorganization of ICC: John Manahan outlined the major points of the 5-Year Economic Development Plan noting the priority ranking of goals and objec- tives. The Star Cities Task Force developed the Plan, and after its development, the ICC was recommended to be reorganized. A memo from Jeanne Andre, former Community Development Director, was reviewed as it described the expanding subcommittee structure and component functions. There followed extensive discussion of the proposal, need for key staffing support, membership recruit- ment, proactive versus reactive roles , the remaining elements for the Star City Program: 1 year objectives program, labor survey, presentation and committee designated to be available to potential developers. Barry Stock will contact Jeanne Andre for the name and costs for a consultant to work with the staff to complete the Star Cities program. He will provide this infor- mation at the next ICC meeting. There continued lengthy discussion of recruitment for new members for the ICC and proposed subcommittees. It was considered for the ICC itself to name members to the subcommittees. John Manahan moved, seconded by Jim O'Neill, to adopt the 5 Year Economic Development Plan as set forth by the Tast Force, and incorporated by reference into the record. Motion carried unanimously. John Manahan moved, seconded by Jim O'Neill, to adopt the proposed reorganization plan for a 12 member ICC, with the additional understanding that the membership of the proposed 6 subcommittees, if approved, would be screened and appointed by the ICC and to direct staff to take the necessary steps to implement the plan. Motion carried. It was stated that recruiting subcommittee members by the ICC would be a convenience for the City Council, due to probable, more frequent membership changes as subcommittees work increases/decreases. Barry stock was directed to contact the Chamber of Commerce to place a notice of the reorganization and call for new membership. John Manahan moved, seconded by Jim O'Neill, to recommend the staff recommendations on staffing for economic development and direct implementation of staffing changes to accomodate necessary economic development functions. Motion carried. Other Business: The Chairman introduced new member Donald Koopmann to the ICC and welcomed him. Barry Stock was requested to confer with Jeanne Andre on the progress to date on its development of a 1 year Economic Development Plan, in order to maintain continuity of thinking. On a motion by John Manahan, seconded by Jim O'Neill, the ICC was adjourned at 6 : 35 p.m. Respectfully submitted, Glenda Spiotta Recording Secretary pro tem SHAKOPEE COALITION - MEETING MINUTES MAY 1 , 1986 The Meeting began at 7: 10 AM in the Meeting Room of the Citizens State Bank. Members Present: Sr Jo Lambert (St. Francis Regional Medical Center) , Debbra Determan (Scott County Human Services) , John K. Anderson (City of Shakopee), Todd Schwartz (Rotary Club), Claude Kolb (K of C) , Jim Streefland (Lions Club) , Jeanette Kleve (SACS); Mary Sullivan (Scott-Carver Economic Council), Brian Norris (Citizens State Bank) , and George Muenchow (Shakopee Community Services). John Anderson updated the group on the status of road and bridge construction in the community. There currently are four crossings locations being considered for the proposed new Bridge-downtown. Construction could begin in three or four years. The bypass around the City will take a little longer and initially will be a two lane highway. The new #169 Bridge might happen in mid 90's. Scott County will widen Cty Rd #17 to be similar to Cty Rd #83 this summer. Mary Sullivan shared that Federal Block Grant cutbacks are hurting her agency. Funds are still there to operate specific programs, but they are short on money for the basics: staff, office, heat, insurance, etc. Attempting to secure more help from the United Way. Jim Streefland commented that the Lions Club is making money off of Pull Tabs at the Backstretch Bar. . . $11,000.00 in five months. Chairman Norris arrived and took his chair. Bob and Judy Techam were introduced as the Coalition's "Volunteers Of The Month" and presented with the Don Schultz Memorial Award. Bob and Judy both are extremely active in youth athletics programs in the community. A card of thanks has been received from the family of Don Schultz in appreciation of the recognition given him at the last meeting. Chairman Norris reported that the Scott County Transportation Coalition is looking for funds to enhance the current three major highway construction efforts needed in this corminity Chairman Norris reviewed the goals of this Coalition and asked for volunteers to fill the current coordinator vacancies. John Anderson reported that the Chamber of Commerce is studying having a Hotel Tax in the community for promoting Tourism. A straw vote was taken providing support for this con- cept. John further gave an explanation of the Storm Water Runoff Charge that was recently initiated. The meeting adjourned at 8: 10 AM. R pectfully Submitted �, YV` George uenchow, Acting Secty. it • ITT ^Tr',TJ St`rl•'r'T�7 7 TT.-14+-,_.Cql na,�y ' 290,6 nairman "zaja called the meeting to order at 9:20 p.m. w_th Commissioners ",ane, p0'11P.renke, Schmitt, 'tan`,�aldeghem, .ot, udray, and 7ockne present,. Also persent were ^ncl. '.ebens, .Judi Cimac, lit-, ?Tanner, iohn Lr-derson, "_dministrator. AZenda was approved as written, with additions and corrections: ='9 the action will be to continue public hearing as this was not _printed in the paper at the appropriate time, and add g-j as informational items. The minutes of -Sprit 3, 1986 were approved. as written. Tan aldeghem/Schmitt move to open public hearing to consider a conditional use permit .to allow outdoor storage upon the property located at 1,ounty Road 89 and 13 Avenue. notion carried unanimously. Comm.:. Schmitt stated that as per staffs report he would like to incorporate item 3 which calls for a total landscape plan in accordance with the ordinance to be submitted prior to the approval of the building permit and at least 50�; complete before the occupancy permit is issued. Chairman asked if there was anyone from the audience who wished to address this issue. There was no- response. Motion carried unanimously. Urani'ialdeghem/Rockne moved to close -the public hearing. Motion carried unanimously. Schmitt/Rockne moved to approve Conditional Use Permit =;459 subject to the following conditions: 1 . Submittal of the screening plan to be approved by the City Planner prior to approval of the Building Permit. 2. Submittal of trip estimates to the City 'Daneer. 3. �;;andscape plan be submitted prior to approval of the building perm-it and be at least 50"; complete before occupancy permit. motion carried unanimously. Schmitt ";'anI,raldeohem moved to open the public hearing to consider a Conditional Use permit to allow two horses upon the property located at 9326 Boiling Springs mane. Motion carried unanimously. Chairman asked if there was anyone from the audience who wished to address this issue. There was no response. Rockne/'TanMalde-hem moved to close the public hearing. notion carried unanimously. Schmitt/ anMaldeghem moved to approve Conditional Use Permit Resolution "460 subject to the conditions that: 1 . ^he entire horse confiement area be fenced 2. to more than 2 horses on the property. Motion carried unanimously. a l".tilde-hem/lane moved to open public hearing toCO,"IS4.der a ryOndltl Ona1. Use Permit to move-in a single fa-: ~tSw'Te —7— �7_-u._Qe�'_�e' ^ 1�+ m �ea t:iat 4T;_eni 5��it Zlr1?,eS ane a.p:�ll.calt te___Ln5 u:�.^chm him of the actions of the Planning, 'f;o=issioi; that t''ie oti-n t.G racom'nend staff review and preparati 1,, of material for co_cider at_On for al") Ordinance amndmient be Included in that let.er. 'oT,ion Carried xianimousl:r. aYS::ald?t�:-. 1� :21e m0':'ed t0 OFBn pl?O_-_c hearLi1 to Consider a .ondit_�.onal 'Tse Unr;iit t0 operate a cOT=i!)rcia l recreati0nal use; for iellcorter ride business upon the property located -aSt of 'alis; air :J US el lent ''ar'Y. On Mate ighwa}' 101 . ,Le ^..ity Planner stated that the applicant's .intention is to conduct helicopter rides for 4 months (I-'ay 15 — 3eptember 15), daily from 10:00 a.m. to 8:00 U.m. The operation consists of a parking area. for 10 cars and landing pad area. The proposed location is the 51) acre Bradford property which has been platted as Prairie '"ouse Addn. Tcnnis Felix, attorney for �?dward Colmer, the applicant, of 230 70- Riverview 7ircle, Burnsville, stated that ;'•^:r. "olmer had prepared a fact demonstration to be included for the record. The applicant has been running this service full time for approximately 2 years and part time prior to that. He has contacted F-i and made an agreement with them regarding his route. Discussion ensued on the iSeue of the access off Highway 101 and the dust and noise that will be creating a nuisance to surrounding areas. The issue was raised by Comm. Schmitt on the fencing around the parking area or landing area to protect the people from entering the landing pad area. The Chairman asked if there was anyone from the audience who wished to address this matter. There was no response. Schmitt/7anP_aldeghem moved to continue this hearing to Tvay 22, 19869 and?ask that the applicant supply the Commission with a written_ plan, with appropriate drawings covering the safety standards to be established on the parcel, training of the safety officer, fencing from a control point of view .Gnd the treatment of the paring lot to be used, also access situation be checked into to find out if a private driveway can be used, also a hold harmless clause be incorporated into the agreement. "otion carried unanimously. Schmitt/Pomerenke moved for a 5 minute recess. -'_otion carried unanimously. 'IaniJaldeghem/Pomerenke moved to open public hearing. "Motion carried Unanimously. The City Planner reviewed what the applicant is.:requesting. The applicant proposes to operate a heliport on 2 acres of land for 1 year. Besides operating the amusement ride, the applicant intends to run an occasional air taxi service to Minneapolis. Proposed access to the site is from ;:Talley Industrial Blvd. No. When flying over the racetrack the ceiling is to be 750 feet. Comm; Schmitt raised a concern that the flight path proposed is in direct conflict with the Koskovich flight path. The applicant, 'Richard Stark, of Big ..ake, innesota, has been in the helicopter service for 3 years. Our intent is to provide Shakopee with air transportation by helicopter and provide recreational rides to the public. 7iscussicn ensued with respect to the plat—rig of the property which is owned by `'cottland "ompa:iies which is part of the plat, of anterbur,r Park ist �ddn. which has not yet been filed. -:ommission expressed concern of the noise and c=ost 1ev=1 and also 'c=ow the flight ti ern night interfere with i.7 i j "1-)ad r lir who ylaJ 7 wrlCul t V y'G 1.on n' r 5 M, les around. 9ch,yitt/1-�omerenke moved to continue public hearing to ''__y 22, 1956, due to the fact that the legal notice for this public hearing was not published on April 30, 1956, in tice paper. 1-lotion carried unanimously. Schmitt/VanMaldeghem moved to open the public hearing to consider a Conditional Use Permit to sell tip sheets in the narking lot on the property located at 1266 Cast First venue (American Te-ion Post No. 2). tiiotion carried unanimously. The City Planner reviewed that the applicant has requested to sell racetrack tip sheets at the American =region par-king lot. The tip sheets will be sold on racing days only and hours will be 11:15 - 1 :45 on weekends and 1 :15 - 3:45 on Wednesday through Friday. The applicant, Hartwell 7�zgene Fisher has applied for the peddler permit. The Police Chief stated that thei.department was pleased with the applicants operation last year and felt that the Conditional Use Permit should be approved. ITanMaldeghem/Schmitt moved to close the public hearing. Motion carried unanimously. Schmitt/VanMaldeghem moved to approve Conditional Use Permit #451 subject to the following conditions. 1 . -k11 City Codes are complied with. 2. The applicant obtains a Peddler's license. ;. :o permanent signage or displays are permitted. 1+ ;annual review. ''-:otion carried unanimously. "anMaldeghem/Pomerenke moved to open public hearing to consider a Conditional Use 'Permit to permit retail sales in an I-2 zone, limited to 15''; floor area upon the property located in the Talley Industrial Park. notion carried- unanimously. City Planner stated that the applicant is requesting a conditional use permit to conduct retail sales in the Heavy Industrial zoning district. The sales will include saddlery, leather goods and veterinary medicines. "Nese items will be sold to horse trainers so therefore, the applicant wishes to be located close to the racetrack. The applicant is Tom Oros, t grings Arkansas. Ch M. Cza a asked if anyone from audience wished to a�aress phis matter. "_'dere waS no response. 7anMaldeghem/Pomerenke moved to close public hearing. motion carried unanimously. an'ialdeahem/Pomerer?ce moved to approve Conditional Use Permit Resolution -=453 and move for its adoption. Comm. Schmitt suggested that an annual financial statement be included as a provision in the motion. 'roti on carried unanimously. ran''.aldeehem/''ockne -novel to open public hearing to consider a. ':ondit on:,i SP ' e"Pilt to allow a --,air:., :queer., "`lass `TeSt2llr:I:t rvn the rr�p�Tt;, �cocated at 1147 -`ounty load '3• iotion carried maanim lj'• + ^ Listed/';'a� .; Tenkins The �1 Planner stated that the a.., i sit, . - -.1 + lalry ,ween, 1S Te�lU2S�ing to put up a �airj `ween, ".lass convenience fast food service. Tt is be located at tine .'anterbury ",l zare �;hoppizg "..enter. 1'he Inairman asked if there was anyone from audience who wished to address this issue. There was no response. "an. aideghem/T:ane moved to close the public hearing. '°iotion carried unanimously. Poudra-/_Tan•aldeghem moved to approve Conditional Use Permit Resolution `454 and move for its adoption. !iotion carried unanimously. Tran'iialdeghem/Schmi_tt moved to open public hearing to consider a Conditional Use Permit to allow an open sales lot upon the property located Last of County Road 83 and South of 12th Avenue. :iotion carried unanimously. The _City Planner reviewed the applicants proposal to conduct a hay and straw auction 1 day a week during the afternoon and evening hours. Discussion ensued on keeping the air clean and nothing will be stored on site. Roger ',,Tacker, the applicant stated that the hay will be brought in on pick up tracks and the majority of the hay will remain on the trucks until sold. Chairman asked if there was anyone from the audience who wished to address this issue. There was no reply. -an?ialdeghem/Schmitt moved to close the public hearing. Motion carried u_nar_imously. Pomerenke/T_ane moved to approve Conditional Use-.- Permit Resolution= -'14'55 subject to the following conditions: 1 . The auction shall be held during daylight hours only. 2. Signage shall be limited to 25 sq. ft. and contained on-site. 3. Io materials or equipment associated with the auction shall be stored on the site. 4. �o permanent structure shall be erected because the location ",. is within the By-Pass R-O-W. pisoussion ensued on dust control of the area. Vanr,aldeghem/Jane amended the main motion to. -include the conditions that we authorize staff to suspend the Conditional Use Permit if the site becomes unsightly for over a period of 48 hours, and that the Conditional Use Permit be limited to 1 day a week, Monday or Tuesday for a period not to exceed 3 hours. Motion carried unanimously. .pain motion carried unanimously. aTi moved to open uublic hea-ing to consider ?mending the :3 n r e - -,r 12 1 - la.k_ U. Wit,, Ode, �eCtlon i ._• I JUIJd• 1 --• =iSS^CiC?.t1021 po,li, carried .:nnanimousiy. =t 7 ")anner reviewed =Cesoluticn ..o. 273„ setting forth i.J relic ^ '! w--'tn _ esp2nrure ct to :?O'iG:ii:�1 ='S ssociat�ons Yid h," 1?.kOj�ee ",de4Cection 12.11 , bd. 1 ;hairlsn asked if there was a�rsr e o, fro: the audience who w _-shed to address this issue. ?here was no response. ;pan";aldeghem/-.ane moved to close public hearing. ":otio:� Carried unanimously. 'IanNaldeghem/lane moved to recommend to the City '70uncil that section 12.11 , >ubd. 1-731 of the City Code be mended to provide that -ome0,.mer's Association agreements be established in accordance with City policy set forth by resolution of the Council. Motion carried unanimousl-,-. ':%anP•"aldeghem/Schmitt moved to open public hearing to consider a plan to expand the urban service area for land in the vicinity of County Road 83 and 12th avenue. :Motion carried unanimously. The City Planner reviewed the request made by Scottland Companies to the City of Shakopee to apply for an amendment to the Comprehensive Sewer Flan. The amendment proposes to expand the urban service area for land that is east of County Road 83 and north of 12th Avenue. Tim keen, Scottland Companies addressed the Commission on what they are requesting. They would like to adjust the line at this time so they can hook up to the County Road 83 pipe. The Metropolitan Council staff halve indicated that they would consider the amendment because there does not appear'-•to :be a substantial impact nor adverse effect on the metropolitan sy tems. Rill Tngelhard, Digelhard Associates, Chaska, has looked at the area for Scottland and- addressed the different options available. ine Chairman asked if there was anyone from the audience who wished to address this issue. There was no response, Tan,•'aldeghem/Pomere_nke moved to close the public hearing. 'ction carried unanimously. 'TanPlaldeghem/Pomerenke moved to recommend to the City Council approval of the Comprehensive Sewer Flan Amendment which proNfides sanitary sewer to a 5.5 acre parcel east of CR 83 and forth of 12th "venue. friotion carried unanimously. VanMaldeghem/Pomerenke moved to direct staff to begin the official mapping of 13th revenue. Lotion carried with Comm. Schmitt opposed. Tim keen, Scottland Companies, addressed the Commission on the mapping of 13th Avenue. There are two points to be considered; one is prior to officially mapping this street, two major issues should be solved:- one being the drainage way that will be cutting through. this area and how utility services will be coordinated with the major drainage way. T,and ose issues in the area should be considered. c � r R.L. FEIG & ASSOCIATES, INC. 9740 IRVING AVE. SO. CONSULTING ENGINEERS BLOOMINGTON, MN 55431 (612) 884-4275 April 1. 1986 Mr. Michael Holt SuperArrerica Corporation 1240 West 98th Street Bloomington, r1N. 55431 RE: Facade Lighting Shakopee,. Minnesota Dear Yx. Holt: We have completed our study of the photmetric lighting characteristics of your standard facade lighting unit, the proposed location on the site at Shakopee, I01innesota, and Subdivision 5 of the Local Ordinances covering lighting cast on public streets or property lines in residential districts. The Ordinance limits the amount of light "cast on a public street shall not exceed (1) footcandle as measured from the centerline of said street". A copy of the Ordinance is included. We conclude from our study and examination of the Ordinance that the proposed facade lighting on the canopies will meet the Ordinance. We went to the factory where the facade lighting equipment is manufactured and conducted a series of photometric tests on the standard 14' and 18' long by 36" high luminous facade lighting element. The measurements were conducted in total darkness using a Gossen "Panlux Electronic 2-footcandle meter", which reads accurately down to levels as low as .01 footcandle. The photocell used in the meter has been matched to the spectral sensitivity of the eye with a correction filter sothan the meter evaluates light in nearly the same way as the human eye addition, the meter is cosine corrected to accurately measure light with an oblique angle of incidence. In a normal situation, the vertical centerline luminous facade element is located 15' above grade. Light level measurements are normally taken at ground level, so angles of incidence between 10 to 30 degrees are usually encountered in evaluating the amount of light received. The two major factors in determining the light intensity at any point is the brightness of the source in the direction concerned, and the distance from the source. Where the distance is relatively great compared to the size of the source, the "inverse square rule" applies. ie: the intensity of light received is reduced in accordance with the square of the distance. Thus, the moved to infor-m the "'i+ 4 4 oun c ani -)hakopee "ousing and 7edevplop C-�-,4 MI I, in-s of the u U L 4 c= isslon :—ve,:,:,I that +-]ne r>h=:kone I -P-v -n, r�- is in co-f�rmance withtI_e it 4. OtiDn r-arried moved to accept the azzuaual revie-v! of -ond-Jt4oiial Jse-- -'ermit '217 allowing -)on and 7 � 00 C-� -orrie ',�reuser to conduct P-n aluminum siding installation business from their hoine at 1742 >-'a schall load. Tv'otinn c�rried unanimously. -Ulanning r�ommission's next meeting will be held Ilk,,r 1021, 1996. Planning '.7omnission's meeting in TUly will be held July 1', 1936. J Discussion ensued on the request for traffic control in alley behind I the ity Hall. The City Planner reviewed the le-tter from the Metropolitan Council dated April 28, 1986, approving_proving the opening up of a 1935 area for development. There will be a workshop held between the City Council, Planning Commission, and affected landowners on the Metropolitan Development Investment Framework. on 7''Ilay 29, 1986, at 7:30 P.m. Foudra:y/Schmi,tt moved to adjourn to 7-ay 22, 1986 at 7:30 P.m. Motion carried unanimously. Meeting adjourned at 12:45 a.m. Judi Simac City Planner Carol 7 . "chultz Recording Secretary Michael Holt April 1. 1986 Page 2 amount of light received 20' from the facade would be one-fourth (1/4th) that received at 10' and the level at 30' would be 1/9. The facade lighting element is a long, relatively narrow horizontal band of light and does not follow the inverse square relationship. With an infinitely long, linear-source of light and where the distance from the source is from one, to five-times the height of the source, the light level drops off proportionally to twice the distance. Therefore, doubling the distance would cut the level in half, not one fourth as for a point source. Where the distance from the source is ten (10) times the height of the source, the lightl 3received is related to the 1.3 power of the distance to the sign - (D ) . In effect, the vertical height of the source acts similar to a point source, and when combined with the infinitely long, horizontal component, produces a relationship between the two extremes. In the particular instance of Store #4035, "any light which casts light on a public street shall not exceed (1) footcandle (meter reading) as measured from the centerline of said street". In this instance, the canopy is to be located 75' from the centerline of the road, so the angle of incidence is about 11 degrees. The facade lighting has a photo- metric intensity of 323 candlepower at this angle measured directly out from the center of the 18' long element. Our measurements and calculations indicate that the initial light incident at the centerline of the street will not exceed .55 footcandles initial. Over a period of time the light level will drop, due to both lamp-lumen depreciation and to dirt depreciation. The lumen output of the lamp will drop off by 30% over its economic life and the efficiency of the facade lighting element will drop by an additional 10 to 15 percent as the reflecting and transmitting surfaces accumulate dirt. Thus, the .55 footcandle initial will drop off to about .35 footcandle after a year or so. The Ordinance also refers to "direct or sky reflected glare --- from floodlights". In this instance, there are no floodlights and there should be no "glare" at all from the facade lighting. In general, the amount of perceived glare is related directly to the brightness of the source, and is inversely proportional to the size of the source and to the logarithmic power of the sine of the angle between the line-of-sight and the source. Thus, the perceived glare increases dramatically as the size of the viewing angle goes down, and Michael Holt April 1, 1986 Page 3 decreases as the size of the source goes up. In this instance, the bright- ness of the facade lighting element is about 330 candle power. For compar- ison, the output of a standard 150 watt spotlarrp is about 10,500 candle- power or about 32 times brighter than the facade. However, since the area of the facade is about 400 times larger, the net glare from a spotlamp is several thousand times that of the facade lighting element. lie conclude that there will be no glare at all from the proposed facade lighting installation. If you have any questions, please contact me. Very truly yours, , R.L. FEIG & ASSOCIATES, INC. Richard L. Feig, P.E. President RLF/maf Enclosure lu I u CC ;moi j I i I I i jJ IIS I 10 F M - - fn PA I � I I tiJ-• � � Q I J � y, •g I 4r , fel i �• J / I fid. ! r ai I '; � ' �.. .�• � � I I ! � I r! I rr I Y1 In i�_ I•`� I I _Id I � '�j 7 cr it ti 1i j v-1 r � "' .J �' ms's► est F-XHIBIT ONE j i I i I � � I ! I I I I I , I I ��8b' %i 55' =:ii- ���1' :73�k��7�Zo�l "%'�4Z.�1 '?�z5"► -7�zb-� 'i�15.1 ��zY'S. -��95 '7�L'C -^.�89'L� "J'�81 08 CL ,ob 54 04 .5t .� t� a� S o J - - I — I I I °s► � i i j06 I c 5i I I � H H H V L MAR 1 �B6 �. �_FE1G & ASSX ;, he premises; (3) merchandise located on service station pump islands. D. The screening required in this Section may consist of a fence , trees , shrubs and berms not less than five (5) feet high. The screening shall be placed along property lines or in case of screening along a stre"et , twenty (20) feet from the street right-of-way with landscaping between the screen- ing and pavement. The screening shall block direct vision. Planting of a type approved by the Council may also be required in addition to or in lieu of fencing . Subd. 4 . Landscaping Maintenance . In all districts, all structures requiring landscaping and fences shall be main- tained so as not to be unsightly or present harmful health or safety conditions. Subd. 5 . Glare . In all districts , any lighting used to illuminate an off-street parking area , sign , or other struc- ture , shall be arranged as to deflect light away from any .adjoin- ing residential zone or from the public streets . Direct or sky reflected glare where from floodlights or from high-temperature processes such as combustion or welding shall not be directed in- to any adjoining property. The source of light shall be hooded or controlled in some manner so as not to light adjacent prop- erty. Bare incandescent light bulbs shall not be permitted in view of adjacent property or public right-of-way. Any light or combination of lights which casts light on a public street shall not exceed one (1) foot candle (meter reading) as measured from the centerline of said street. Any light or combination of lights which casts light on residential property shall not exceed 0 . 4 foot candles (meter reading) as measured from said property. Subd. 6 . Bulk Storage (Liquid) . All uses associated with the bulk storage of oil , gasoll.^.e , licuid fertilizer , chemi- cals , and similar liquids shall require a conditional use permit in order that the governing body may have assurance that fire , explosion , or water or soil contamnination hazards are not present (that would be detrimental to the public health, safety, and gen- eral welfare) . All existing above ground liquid storage tanks having a capacity in excess of ter, thousand (10 , 000) gallons shall secure a conditional use permit within twenty-four (24) months following enactment of this Chapter . The Council may re- cuire the development of diking around said tanks . Diking shall be suitably sealed, and shall hold a leakage capacity equal to one hundred fifteen percent (1150 of the tank capacity. Any existing storage tank that , in the opinion of the governing body, constitutes a hazard to the public safety shall discontinue oper- ations within five (5) years following enactment of this Chapter . Subd. 7 . Nuisances. A. Nuisance Characteristics . No noise , odors , vibration , smoke , air pollution, 1iqu4d, or solid wastes , heat, glare , dust , or other such adverse influences shall be permitted in any district that will in any way have an objectionable effect 312-5 :73 MAY 229 1?0 Kairman Czaja called the meeting to order at 7:30 p.m. with "ommissio._ers ',ane, ian: cldeghem, _budr'ay and Schmitt present. Also present were Judi 3ima.c, `,i try Planner; john Anderson, -ity Administrator; and 7o ncilwoman ebens. _he agenda, stands a.9 published with the addition of Vinterbur; ?owns Housing. R'1"ie minutes of April 24, 1936 were approved as written. VanMaldeghem/Foudray moved to open public hearing to consider a Conditional Ilse Permit to operate a commercial recreational use; for helicopter ride business upon the property located hast of 'alley Fair "-.musement Park on State Highway 101. Notion carried unanimously. The City Planner reviewed the conditional use permit stating that on ,gay 8, 1986, the Commission approved a motion to continue the public hearing to Nay 22, US, in order for the applicant to provide additional information on safety. Bennis Velix, Attorney for 7d ^olmer, the applicant, addressed the Commission on safety standards. The applicant indicated that he will train the safety officer himself and the safety officer will have radio contact with the helicopter pilot during all hours of the operation and will also, have a hand held two—way radio tuned to the same frequency of the Flying Cloud Tower. No one will be allowed within 75 feet of the landing pad and the safety officer will do all the escorting to and from the parking lot. The parking lot will also be completely fenced. Ed Crozier, Tanager of the Minnesota galley Wildlife Refuge addressed the Planning Commission on his concern of the impact of. the helicopter on the refuge in general and particularly on the Great Blue Heron and Egret Colony located just north of Blue Take. Marge Henderson, 905 S. Holmes, Shakopee, Chairman of the Board of r%urphy's `sanding, addressed the Commission stating: that Norphy's ianding is trying to preserve the 1800s and with helicopters going over the site every 5 or 10 minutes it would destroy everything they are trying to preserve. They would like to go on record as being opposed to the helicopter ride business. Chairman Czaja asked if there was anyone else from audience who wished to address this issue. There was no response. Foudray/7anMaldeghem moved to close the public hearing. :-lotion carried unanimously. Schmitt/Foudray moved favorable approval of conditional use permit ,-x.50 subject to the following conditions: 1 . The applicant shall have an insurance certificate on file, annual renewal of'that certificate be on file prior to completion of any annual reviews. 4-- _ :'.c4 27, -0 aJ 4r;I - - ur. the record as a crndLt,*.,)-,-, of t1i "A 4-r' a---.,9ndm- ent that t:',,e reque4l D,, fac-,. sheet F;o 'jSa'; tv -)fficer vizLll be on th�-' 'a', rimen�e�, -s to ra d the .._:nes and ah3l_' 're se. --.)m o-;era 01 1 "rin -e L'o L -2 ;�as' L, CO J --o- 's =ea nor )��ss 'ire C -, ?i 4 e -1- .1 C4 I T1111ijor populated recre?-io,.a-, areas of ',alley L )o*vl-n-- T i Mr-hys ;,,and in- or any other f ac 11-;ty which may de,,--I(-'P in the immediate recreational area. --otil)n denied with '"on—ni. `Oudray approved. 17 an'-ialdegher-I/-,'o-jdr-ay moi el to open the public hearing to consider a Coni l't ional .?Se :Pe=it for a heliport for a:-,use--nent ride business and to run occ sio a nal. air taxi service upon the property located South of State Fighway 101 across from 7,'alley Pair �nuscment Park. '"otion carried unanimously. 71r. Stark, the applicant addressed the Commission on the safety procedure: program that they developed. -nie issues addressed were: A , Safety in the Air 2. Safety on the Ground Ground support people A. Land the Aircraft B. Preboarding instructions C. Boarding the aircraft D. Deboarding, the aircraft -Lrcraft 7-ogging each flight 7i re 7-xctinsuishers G. I-he Sz`ielter and --,--nce 7-, Train-i - nE; of personnel T. insurance The issue of fueling was raised by IOMM. 7; C> LF,--le and the applicant answered by stating that the aircraft are fueled on site and are done so by a truck which has fuel tanks right on it. the applicant is planning on di-r-"* g g inan area approximately 5 or Do inches deep, about 30 ft by 30 -ft, covered with plastic liner and crushed rock rut on top of that so if there were any spills, it - would be contained within that area. - Pd Crozier, Fish and 1.1ildlife Service, stated that the impact of this operation would be less harmful to the creat- Blue _7e-ron and '717"g-ret Colony but did state a concern about the northerly flight pat"Item-. The a-D-p-licant stated that they would be happyto omit this northerly route. U '�Ihief of Flying Cloud Airport, stated that they are now in the Robert =,al mby, Process with either applicant of discussing a letter of agreement specifying maximum altitudes and routes of where they would be operating at and listen to our radio frequency. CD �_n *a, asked if there as anyone from the audience who wished to a6dress this issue. There was no res P:�--Ise- move l to close the public hearing. 7otinn carried =Limcusi�. Oh&ttfane moved 07crable approval to Conditional 7se Permit 152 subjec--, in ane 011owing ounditions: 1 . 7nzurance certificate be on file and the annual renewal of that certificate be on file prior to completion of our annual review as a condition. 2. Safety data sheet dated 5-16-86 be entered into the record as condition of request, amended to provide for the ground safety officer is to be at least a minimum of 21 years of age. T. The northern flight path be deleted as agreed with the applicant. 4- Oe flight path shall not pass directly overhead of any populated recreational areas. Motion carried with Chairman Czaja opposed. OWIldeghem/Schmitt moved for a 10 minute recess. Motion carried unanimously. meeting was reconvened at 9:10 p.m. 7anNaldeghem/Schmitt moved to open the public hearing to consider amendments to the zoning map and zoning code by establishing a Racetrack District and Planned Unit Development Zone. Hotion carried unanimously. The City Planner explained that this is a public hearing on the proposed language, it is the first hearing and airing by the Planning Conmission and a couple of major changes in the zoning code are in 7hapter 11 of the City Code and establishing a racetrack district. The other one is Planned Unit Development regulations which is a method of developing a parcel of property in a planned, orderly way. The proposed' amendments include: 1 . Section 11 -36 Racetrack District (RTO) 2. Section 11.40 Planned Unit Development (PUD) 3. Section 11.02 Definitions 4. Section 11.25 ^-4 Residential Amend Conditional Uses to allow for private clubs and lodges. recti n oc 7n CZ io�_) I _z3 7ubd 4 a at T- ver'ay 'r-d 'To S U 12 E_tri P-..7 e d -oposed 'mend-rien- sand the i s no o f -ac c e t a b-i bu,*ldiing Materials. and minim= landscaping requir-ments screening rOf_-u_Jre,-,j�,nts C) storage requirjfli-�' all moterip.13 be spored in a building.Ll 0 - are certain areas where i-I.ere -..-,,c)uld be -a mandat.,.,ry D and should be at least 10 acres before a 71,__-) could be done and the developer pian all of it. ^hey are suggesting that there be no variances fro:ii off-street parking requirements except those which -are a'-ready provided for in the city' U s off-street parkin-, ordinan3e, Balt 1-!ittmer, :rice President of Valley'Lair, stated that they would like to remain zoned at Ll to have the option of having a restaurant t in at a later time. C> PU -ave 'I'aruso, 1812 7agle Creek Blvd., pressed concern of being changed from . industrial to R-3. Peter Beck, Attorney for Joe Koskovich, is requesting to take 10 acres of istricu southwest corner and put it in the racetrack district. "Ir. O'B r4-e-n, owner of Danny's Construction t"o.-,,,* stated that with the business expanding like it is that theycanget some consideration to build more inside 0 W storage space. ?`uriel -Hoskovich stated that it has been said that the property they have has a very obnoxious odor which is not true. 7-red 70 4-4 ngton stated that they would -need direction from the 1-:0-T-m-ission �� �_- C> on the issues raised by the audience. 'jm T'ann Scottland Companies, requested that the property south of gate 1 azid north of the Pro-posed b,-pass not be do-wn zoned from 31 to -,TD. Schmitt/Foudray moved to close the "hearing. Tlotion 0 carried unanimously. sc-hmitt/Foudray moved that the language and wording as discussed be forwarded 0 10 to staff for incorporation into the ordinance with no changes relative to zoning from that which is presently proposed. 1.7 0 - C� - - -otion fails with Schmitt and j'oudray approved. Discussion ensued on considering the comments raised by the audience. Sc'-,'-im.-I.tt/VanD'aideghem"moved for L 5 minute recess. T-'oticn carried unanimously. 7',T 2_'f,'aldeghe-_-j/T,ane moved to recti:sidesprevious motion. :,T ' * unanimously. oTion carr-ia-drl 7, amend :ale 'i 'j i c t-io,n tc i n,cl u r-, in e -iacctracl< the Kc2l=r-I 10 acres in1.11)u,�Irilllest corner o-, ropern7,r-11-hern boniida---y of' ""—,t, 10 acres WI)U ty t'n! of `-'le c-.rr.--d as a:riended carried -'anny's cors,ruction be further looked L-It-o -hen m-i= T.o-, ed that U L, a �,alder U as to the -nossibility of leaviing, their ex-i--tin- --onin- Of 72 intact. ?-.otion failed with 7orrj,,q. ane approved. 1 7an"'alder,,hern/Foudray moved to approve the 7anterbury 'Square Sign Plan as submitted, and move its adoption. 71 oticn carried unanimously. 7he "iity Planner explained that ^=terbury -,;oi-m. s is pro-posing to move-in modular housin- units to provide additional housing for stable area personnel. nae units would be located in the backstretch area, be connected with water, sewer and electricq be placed on permanent concrete foundation and be s-orinklered. Uscuss housing ion ensued on housinordinances and provisions on move-in dwellings, and mobile home versus manufactured homes. Stam Bcmer, --.,7ice President and �-"Teneral Kanager of -Canterbury Towns addressed the Comm.-iission on the problem of providing housing for the people to tzake C) care of the horses. They are well constructed houses and are not mobile homes, and by no means are downgrading Canterbury Do-vms. Discussion ensued on the value of having a conditional use permit hearing on accessory buildings. -C!-7r4+-L 7.&nemoved that this application L be found to fall under tine -rovision o f, 71---a p t e r 1 Section 11 .05 Subd. 5 -.,c)v--*-I,;:71, of s-Uruclures and that -)--rtic-n- V � 'R - s C, and Dt o:. -----e sec- n be found to fail =.L,7er realm, of item which deals with the movement of a dwelling unit a.,,.d the requirements thereof. .otion carried unanimous-ye . Schmitt' "aide-hem moved to adjourn. ',,olion carried unanimously. i.'ee'Lr-- "aide- hem at 11 :30 p.m. JudiSimac City 'Planner 17arol T . Schultz Recording Secretary U T ^hainran -'zaia called the meeting to order at 7:30 wit!, -oDnrnissiovers lFu r3al �hpmc3 :chmnitt -resent. :Iso _pane, -, v ldc_ , gk 4 y :�A- -U 4 -oresent were uii iniac, '.'i 'y T-1, -in.Pr; Tohn -strator and -nu-ncilwoman '.e2ens. 7he agenda was approved as written. '7,r,a �Pril 3, 1986 minutes were approved-as written. moved to open public hearing to consider a variancefrom the minimum lot size of 20 acres to construct a office, shop and warehouse on the property located at County Road 89 and 13 Wenue. The rity planner gave a review of the applicants request for outdoor storage in a light industrial zoning district. The applicant is requesting a 14.75 acre variance from the minimum lot size of 20 acres, the lot has been grandfathered. Richard Carron, applicant of 413 7- 153rd Street, Burnsville, HN, addressed the Commission. He presently owns Valley Paving and currently employs 60 people of which at least 90S' go directly to the field each day, Comm. Schmitt expressed concern that the building is more than what the applicant would need and asked the applicant his intent-ions for the Dart of the building. The applicant replied that with the eventual growth of his company he will be using the whole building. VanMaldeghem/Foudray moved,-to close the public hearing. Motion carried unanimously. Pomerenke/9--hmitt moved to approve 7.7ariance Resolution No. 462 and move for its adoption, subject to the condition that the applican-IL., records the variance hold harmless agreement. 1�',otion carried unanimously. .'an"ialdeghem/_F0udray moved to open public hearing to consider a variance of 223 feet from the side yard setback to construct a pole barn for two horses and personal storage on the property located on 9326 Boiling; Springs Lane. Motion carried unanimously. The City Planner reviewed the applicants request for a variance from the side yard setback of 223 feet. The lot size is currently 2.5 acres which was platted prior to the establishment of the 300 foot requirement for animal raising and the requirements cannot physically be met. Discussion ensued on the location of the barn in regards to the sides of the lot. C� The Chairman asked if there was anyone from audience who wished to address this issue. There was no response. Foudray/VanMaldeghem moved to close public hearing. Jiotion carried unanimously. ✓..�..� .� .w:J v..�"__ moi. �_.: Mm- lo:Ilrissioner .:n"alCeghem P.Xpre sse_d concern -or ha.vinc`;.' a b?..= of that size so close to tine property line. �c'�mitt :an:=a degriem mc,-.,!e6 to approve variance =esclution 'o. 4v1 amended for a Val.4ance not to exceed ?GO feet on the three critica._. }ouYld .rJ l�ne> north, so:.t';_, and west and record the variance hold harmless agreement. .otion carried unanimously. %an:-,alde;he:n�Qc^.Mitt moved to open public hearing to consider a variance from the side -ard setback requirements in order to construct a pole barn for raising three horses on the property located west of i�arschall Road, across from Trio Tree `Iursery. r`.otion carried unanimously. The City Planner reviewed the proposal to move in a single family structure and build a 1600 sq. ft pole barn on the property for shelter for three horses. The applicant ?ales Hukriede, 825 E. 4th avenue, addressed the Commission stating that the house to be roved in will equal or exceed the value of surrounding homes. He is requesting a variance to build a pole barn to store equipment and material in to -prevent it' from being stolen while the house is being worked on. The chairman as if anyone from audience would like to address this issue. There was no response. VanMaldeghem/Lane moved to close the public hearing. Motion carried unanimously. Schmitt/VanMaldeghem moved to adopt Variance Resolution #458 and move its adoption subject to the condition.-that the variance resolution shall only be in force upon approval of the Conditional..Use Permit iTo. 457 and also incorporate the hold harmless agreement into the condition. Motion carried unanimously. Rockne/"7.an,'aldeghem moved to open the public hearing to consider a variance to allow a h_red hand to live in a trailer home on the farmstead upon the property located at 2088 Narschall Road. Roy Marschall, 2088 Marschall Road, Shakopee, operates the farm and wishes to have his hired nand live on the property in a mobile home because the need is there to have the hired hand close to the animals. Chairman asked if there was anyone from audience who wished to address this issue. There was no response. Foudray/VanMaldeghem moved to close the public hearing. Motion carried unanimously. roudray/Pomerenke moved that Variance Resolution 1463 be granted on the basis of staffs recommendation that the proposed use is compatible with existing land uses in the vicinity and will not be detrimental to the uses in the R-1 District, and subject to an annual review. Discussion ensued on the no-use variance. There have been no permits granted by this body for mobile homes in the past 7 or 8 years except under the rules that they were there before the zoning ordinance was changed or they were granted for a family relative. Motion denied with Comm. Lane, -.`ar`'.aldeghem, SchTnitt, and "zaja opposed. i 9�' %hm i.tt/ an"�aldegllem moved t0 deny 'Tariance Resoluti cn X463 and wave for its ado-ption on the basis that this is a use variance which is specifically prohibited by ordinance. "otion carried :with Cc=;.,. Rockne, "omerenke and =o-.-dray opposed. ')i L cUssion ensued on the reconsidera tion Of Super :`,TtOric 'i,n ariance. The ap.plicant is now proposing not to put any :'super A erica language on any of the canopies and consider that as an architectural design. The applicant showed a slide presentation of other Super America-, stores and their signage. Comm. Schmitt stated that Section 1160 of our ordinance subdivision 8 addresses glare, in that any lighting used to eliminate off street parking sign or other structures shall be arranged as to reflect light away from any residential zone or public streets, the source of light. shall be hooded or controlled in some manner so as not to light adjacent property. The applicant stated that this request does comply with the ordinance. ^o-pm. Rockne asked that the letter from R._,. ''eig and Associates be put on record as being supportive of this request. RockneIScrmitt moved to reconsider variance Resolution ,�445 and move for its adoption based on the determination that the additional signage on the canopies is an architectural feature and that the words SuperPmerica, nor SA shall appear on the canopies. Iiotion carried with Lane opposed. Rockne/Pomerenke moved to approve 'Tariance Resolution .1445 and move for its adoption on the basis of determination that the additional signage on the canopies is an architectural feature and that the words SuperAmerica, nor SA sn.all appear on the canopies and that the demonstration of the report from R. L. Feig and Associates !no. dated April 1 , 1986 be placed on record. Ayes: Comm.. Rockne, Pomerenke Noes: Comm. Lane, Schmitt, Van laldeghem Abstaining: Comm. Foudray ?Tariance denied. VapMaldeghem/Schmitt moved to adjourn meeting at 9:10 p.m. motion carried unanimously. Judi Simac City Planner Carol L. Schultz Recording Secretary TENTATIVE AGENDA BOARD OF ADJUSTMENT AND APPEALS Regular Session Shakopee, MN June 5 , 1986 Chairman Czaja Presiding 1. Roll Call at 7 : 30 P.M. 2 . Approval of Agenda 3 . Approval of May 8 , 1986 Minutes 4 . Other Business 5 . Adjournment Judi Simac City Planner CITY OF SHAKOPEE J3 TENTATIVE AGENDA PLANNING COMMISSION Regular Session Shakopee, MN June 5 , 1986 Chairman Czaja Presiding 1. Roll Call at 7 : 30 P.M. 2 . Approval of Agenda 3 . Approval of May 8th and May 22nd, 1986 Minutes 4 . 7 : 30 P.M. PUBLIC HEARING: To consider amending the zoning map and zoning code by establishing a Racetrack District and a Planned Unit Development Zone. Action: Recommendation to City Council 5 . 7 : 45 P.M. PUBLIC HEARING: To consider a Conditional Use Permit for a commercial feed lot upon the property located East of CR 79 in Section 18 (Lois Fleck Property) . Applicant: Wishingwell Farm & Training Center Action: Conditional Use Permit Resolution No. 464 6 . 8 : 00 P.M. PUBLIC HEARING: To amend Conditional Use Permit #351 to move-in modular housing units to provide additional housing for stable area personnel upon the racetrack property in an I-2 Zoning District. Applicant: Canterbury Downs Action: Amend Conditional Use Permit Resolution No. 351 7 . 8 : 15 P.M. PUBLIC HEARING: To consider an amendment to the Comprehensive Sewer Plan which will extend the location of the MUSA line in Shakopee. Action: Recommendation to City Council 8 . 8 : 30 P.M. PUBLIC HEARING: To consider the amending of the Shakopee City Code, Section 11. 60 , Subd. 9 to allow for liquid bulk storage in above ground tanks only. Action: Recommendation to City Council 9. 8 : 45 P.M. PUBLIC HEARING CONTINUED: To consider an application for Preliminary and Final Plat approval of Meriden Addition a replat of Outlot A, Prahmcoll Addition and an application for rezoning this property from I-1, Light Industrial to B-2 , Community Business. Applicant: Meriden Corporation Action: Recommendation to City Council 10 . Discussion: Reconsideration of Final Plat of Prairie House lst Addn. Action: Recommendation to City Council 11. Discussion: Rules and Regulations of Planning Commission 12 . Other Business 13 . Adjournment Judi Simac City Planner CITY OF SHAKOPEE at I SCOTT COUNTY HIGHWAY DEPARTMENT COURT HOUSE A106 SHAKOPEE, MN. 55379-1396 (612}445-7750,Ext.346 BRADLEY J. LARSON Highway Engineer DANIEL M.JOBE Asst. Highway Engineer MEMORANDUM DATE: May 28 , 1986 TO: Those Listed Below FROM: Brad Larson Scott County Highway Engineer SUBJECT: Temporary Closure of CSAH 17 (Marschall Rd) between CR 42 and 11th Avenue in Shakopee On Monday, June 9 , 1986 , CSAH 17 (Marschall Road) will be closed to through traffic between CR 42 and 11th Avenue in the City of Shakopee. A marked detour will be provided via CR 42 , CR 83 and CSAH 16 ( See Reverse) . The temporary closure will be in effect approximately 4 months . BJL/jes cc: • Scott County Municipalities Board of Commissioners City of Prior Lake County Administrator - J. Ries City Manager Sheriff Department City Engineer Sheriff ' s Dispatch Public Works Emergency Management Utility Manager City of Shakopee Minnesota Dept of Transportation City Administrator_ District 5 Engineer - Wm. Crawford City Engineer Police Chief Shakopee School District No. 720 Fire Chief Superintendent Transportation Director Emergency Service St. Francis Regional Media Medical Center Shakopee Valley News , Editor Prior Lake American, Editor Transit Jordan Independent, Editor Shakopee Diai-a-Ride Radio Station KSSM An Equal Opportunity Employer I i I \ i TENTATIVE AGENDA REGULAR SESSION SHAKOPEE, MINNESOTA JUNE 3, 1986 Mayor Reinke presiding 11 Roll Call at 7:00 P.M. 21 Recess for Board of Equalization and HRA Meetings 31 Convene as the Board of Review a] Summary Presentation of 1986 Assessed Valuations by Robert Schmitt of Scott County Assessor' s Office b] Questions by Board of Review Members c] Review appeals of petitioner' s assessed value/market value and equalization: 11 John and Lorraine Ries (3 parcels) 2] Joe Sullivan 3] Dean Shaner 4] Earl Dressen I 5] James Ramaker 61 Harold Marschall d] Adjourn Board of Review to Tuesday, June 10, 1986 at 7:00 PM 41 Housing and Redevelopment Authority Meeting 51 Re-convene 6] Liaison Reports from Councilmembers 7] RECOGNITION BY CITY COUNCIL OF INTERESTED CITIZENS 81 Approval of Consent Business - (All items listed with an asterick are considered to be routine by the City Council and will be enacted by one motion. There will be no separate discussion of these items unless a Councilmember so requests, in which event the item will be removed from the consent agenda and considered in its normal sequence on the agenda. ) 9] Communications: a] Virgil Mears, Chamber of Commerce re: Chamber Office/Visitor Information Center b] Gayden Carruth, Independent School Dist. . 720 re: Meeting on Monday, June 9, 1986 at 7:30 P.M. c] Larry Browne, Perkins Restaurants re: assignment of property d] --� S � � t v CC_ 10] PUBLIC HEARINGS: a] 8:00 P.M. - Appeal by Roy Marschall, 2088 Marschall Road, from the Plan Commission denial of a conditional use permit and variance to move in a trailer home to house hired help for property at 2088 Marschall Road TENTATIVE AGENDA June 3, 1986 Page -2- 10] PUBLIC HEARINGS continued: i b] 8:30 P.M. - Expanding the Minnesota River Valley Housing and Redevelopment Project No. 1 and amending the Redevelopment Plan relating thereto; and amending the Tax Increment Financing Plans relating to Tax Increment Districts 2 through 6 - See HRA agenda item #4 111 Boards and Commissions: Downtown Ad Hoc Committee a] Second Avenue Parking Lot Landscaping - Res. No. 2566 121 Reports from Staff: [Council will take a 10 minute break around 9 :00 FM] a] First and Holmes Street Traffic Control b] Eagle Creek Junction 1st Addition - Sanitary Sewer and Watermain *c] Norton Drive (Deerview Acres) Street Repair *d] Temporary 3.2 Beer License - St. Mark' s Church e] Renewal of Non-Intoxicating Malt Liquor Licenses f] Renewal of Set-Up Licenses g] Renewal of Intoxicating Liquor Licenses - memo on table h] Renewal of Wine Licenses - memo on table i] Applications for On Sale and Sunday Liquor Licenses by Scottland Hotels Inc. - tabled 5/6/86 - not in order re-table j] Recording and Follow-up of Developers Agreements - informational k] Approve bills in amount of $68,088.66 11 Upper Valley Drainage & Dean' s Lake Outlet - bring 5/20 item Ili m] Street Rehabilitation Funding Policy - bring 5/20 item llj n] Additional Staffing as "Temporary Employees" bring 5/20 item lln o] Relocation of City Offices - bring 5/20 item llo PI Policy and Program Issues Involving Shakopee ' s Use of Tax Increment Financing - bring 5/20 item llp 131 Resolutions and Ordinances: *a] Res. No. 2571, Providing for the Issuance and Sale of $355,00.0 General Obligation Improvement Bonds, Series 1986-A - Timber Trails and 4th Avenue - See HRA agenda item #5 *b] Res. No. 2569, Providing for the Issuance and Sale of $500,000 General Obligation Tax Increment Bonds, Series 1986-A - Shakopee Valley Motel Project - See HRA agenda item #5 *c] Res. No. 2570, Providing for the Issuance and Sale of $1, 645,000 General Obligation Tax Increment Bonds, Series 1986-B - Holmes Street Storm Sewer, 2nd Ave. Parking Lot & Landscaping, and Bridge EAW - See HRA agenda item #5 *d] Res. No. 2567, Authorizing Expenditure of MSAS Funds on CSAR-17 from County State Aid Highway 42 to 11th Avenue e] Res. No. 2562, Ordering Report on TH101 North Frontage Road from Valley Park Drive North to CR-83 Extended *f] Res. Nc. 2568, Supporting the Granting of A Variance and Limited Expansion Permit for the Flying Cloud Landfill g] Ord. No. 195, Permits Reservation of A_ Liquor License until construction of a new facility is complete h] Ord. No. 184, Imposing A Moratorium on Development of Certain Land *i] Res. No. 2559, Establishing Date SPUC Appointments Shall Be Made 14] Other Business: 151 Adjourn to Tuesday, June 10, 1986 at 7:00 P.M. John K. Anderson, City Administrator Y TENTATIVE AGENDA Housing and Redevelopment Authority in and for the City of Shakopee, Minnesota Adjourned Regular Session June 3 , 1986 Chairman Wampach presiding: 1. Roll Call at 7 : 00 p.m. 2 . Approval of Minutes of May 20 , 1986 3 . Rsolution 86-5 Shakopee Valley Square - Developers Agreement 4 . Resolution #86-3 - A resolution expanding Minnesota River Valley Housing and Redevelopment Project #1 and amending the Modified Housing and Redevelopment Plan relating thereto and the Tax Increment Financing Plans relating to Tax Increment Districts No. 2 through No. 6 within the project area. 5 . Resolution #86-4 - A resolution requesting City Council to issue its G/O Tax Increment Bonds to finance Public Improvement Costs within the HRA' s Minnesota River Valley Housing and Redevelopment Project No. 1. 6 . Acquisition of the Opera House - 105 E. 1st Ave. 7 . Adjourn Barry Stock Administrative Aide "hrm. ,.aampach called tt meeting- order t 15:02 th - ^ Ie P �� ra a p.=ii. with 0.:. 1. -- �J T'15, -'ie 1in�M -eroux, and res ent.. -lso preser'� were Tol-`r= -'. i�,n- �'1ty ."IminiStrator'; .Iu,dith �. -o:-, '''lty 7lerk; parr V_,,.':", `;a3 i1'n Str U---- ide; ren s f eld, lt,j `'ngineer; .ludi --mac, "i y --lanne-"; ?-,1C !uliUS ,. 'oller _ r, 'ity 'attorney. T:eroux/^olligan moved to approve the minutes of '!ay 6, 1985. Motion carried unanimously. Barry Stock, ,Administrative Aide, explained that the Housing and Redevelopment :'authority tabled the adoption of Resolution =°6-1 because the developer failed to provide documentation supporting the project as a redevelopment district. ?n appraisal of the property has been received and the opinion of the staff and r'ity .attorney verifies that the increase in market value generated by the proposed campground improvement will not support the amount of improvements needed for the completion of the project. The project will not occur without the use of tai. .increment financing. ix issues relating to this project are: Fiscal Disparities - Will be paid out of the tax increment district. Security - two letters of credit will be requird by the developer, one for 0 000 which has already been supplied and another for 'k50,000 prior to the Council's authorization of the sale of bonds. Timing of Payments - Yo dollars will be forwarded to the developer until the project is 100°; complete. Debt Service Plan - The project will be assessed as 50j complete on January 1 , 1987 and 100;0 complete on January 1 , 1988. This will be a 5500 bond sale. Planning Commission Action - on -ay e, 1986 the Planning Commission's findings revealed t"rlat the Shakopee ':Talley ^.quare Tax Increment project is in ccnformance with the City's Comprehensive Plan. Comments from County and school -istrict - Tach body has stated that they have no objections to the tax increment program. Comm. dampach asked Mr. Bakken if the Health Department has been contacted. It was answered that the Health Department will have to grant a permit before it can be constructed. Colligan/Leroux offered Resolution ;h;6-1 , Amending the Modified Housing and Redevelopment Plan Relating to the Minnesota River Talley Housing and Redevelopment Project ='1 and amending the Tax Increment Financing Plan Relating to Tax Increment Districts ''2 -45 within the project area and the establishment of Tax Increment Financing District 46 within the project area and the Tax Increment financing Plan Relating thereto, and move its adoption. Roll Call: lures: Comm. Wampach, Leroux, Colli gan 'goes: Comm. --.ebens, Vierling Motion carried. r) T�C _- volllganier_i-ink moved to direct tris -it-7 T'41�1rJP9r t0 address the COP CeliiS Of tale sanitary sewer and water main syi ten. �_c._ carried : la:incusl,y-. Di S c so_o l ensued on the � 1. r'-r;issorJ F' :r Cri ..nd U- - CSnO 1 I .ro ll t1 i . t C. v'_E: 1urat1ve _. cr CC Vea pan balance 7r rrc, 7 pcnl.. Is '_promisso2:y rote. .L pursued_1 on JunE J 1 S+111 be pUrpursued� 1_1 Court , i C'�F,� 1011L-an moved to authorize the appropriate officials to release the promissory note of Thomas and Susan Johnson of Tot 3, I;lock 3 (�-_asey second Addition). �"'otion carried unanimously. T:eroux/Colligan offered Resolution do. 806-2, a Resolution of the Board of ,ommissioners of the Shakopee ^;a Requesting the City of Shakopee to 'Told a r'ublie Hearing on ''ertain Droposed Changes Relating to the HR.,'s :Tinnesota River Valley Housing and Redevelopment Rroject ;ic. 19 and move its adoption. Lotion carried with ^,omm. T,ebens opposed. ^ollig?.,n/T,eroux moved to adjourn. fleeting adjon-nzed at 5:30 n.m. r"otion carried unanimously. I I Parry Stock Administrative Aide I i Carol Schultz Recording Secretary MEMO TO: Shakopee Housing and Redevelopment Authority (HRA) FROM: Barry A. Stock, Administrative Aide RE: Resolution #86-5 - Shakopee Valley Square Developers Agreement DATE: May 30, 1986 Introduction and Background: After several negotiation sessions between City staff and the Bakken group, a tentative agreement has been reached between both parties. The developers agreement ( see attachment #1) submitted for HRA approval, identifies the responsibilities of the developer in terms of this project ( Shakopee Valley Motel) . Approval of Resolution #86-5 ( See attachment #2) would effectuate the HRA' s approval of the developers agreement. Action Requested: Move to approve Resolution No. 86-5 , A Resolution Approving a Contract for Private Development By and Between the Shakopee HRA and Shakopee Valley Square Properties. RESOLUTION NO. 86-5 Resolution of the Board of Commissioners of the Shakopee HRA Approving a Contract for Private Development By and Between the Shakopee HRA and Shakopee Valley Square Properties IT IS HEREBY RESOLVED by the Board of Commissioners ( the "Board" ) of the Housing and Redevelopment Authority in and for the City of Shakopee, Minnesota (the "Authority" ) , as follows : 1 . There has been presented to the Board a certain Contract for Private Development ( the "Development Agreement" ) by and between the Authority and Shakopee Valley Square Properties concerning the redevelopment of certain property within the Authority' s Minnesota River Valley Housing and Redevelopment Project No. 1 . 2 . The Authority has taken all actions necessary prior to the consideration and approval of the Development Agreement. 3 . The Board hereby approves the Development Agreement and authorizes the Executive Director and the other officers of the Authority to execute the Development Agreement substantially in its present form, but with such minor amendments , deletions , or insertions as such officers may deem necessary or desirable, as evidenced by their execution thereof , and the Board further instructs such officers, upon the full execution of the Development Agreement, to take such actions as may be necessary to effectuate and implement the terms thereof. Adopted in session of the Shakopee Housing and Redevelopment Authority of the City of Shakopee, Minnesota, held this day of 1986 . Chairman ATTEST: Executive Director Approved as to form this day of 1986 City Attorney BND/shakopel26 5/15/86 DRAFT CONTRACT FOR PRIVATE DEVELOPMENT By and Between THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE, MINNESOTA And SHAKOPEE VALLEY SQUARE PROPERTIES This document drafted by : O ' CONNOR & HANNAN 3800 IDS Tower Minneapolis , Minnesota 55402 ( 612 ) 341-3800 TABLE OF CONTENTS (This Table of Contents is not part of the Contract for Private Development and is only for convenience of reference . ) Page PARTIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 PREAMBLE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ARTICLE I - DEFINITIONS Section 1 . 1 . Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-1 ARTICLE II - REPRESENTATIONS, COVENANTS .AND WARRANTIES Section 2 . 1 . Representations and Warranties by the Authority. . . . . . . . . . . . . . . . . . . . . . 2-1 Section 2 . 2 . Representations, Covenants and Warranties by the Developer . . . . . . . . . . . 2-1 ARTICLE III - SITE ACQUISITION AND IMPROVEMENT ASSISTANCE; CONSTRUCTION PLANS; CERTIFICATE OF COMPLETION Section 3 . 1 . Assistance for Site Acquisition and Improvement Costs , . ! . . . . . . . . . . . . . . 3-1 Section 3 . 2 . Construction Plans . . . . . . . . . . . . . . . . . . . . 3-2 Section 3 . 3 . Commencement and Completion of Construction. . 3-3 Section 3 . 4 . Certificate of Completion. . . . . . . . . 3-3 Section 3 . 5 . Letter of Credit . . . . . . . . . 3-3 ARTICLE IV - ASSESSMENT AGREEMENT Section 4 . 1 . Execution of Assessment Agreement . . . . . 4-1 Section 4 . 2 . Real Property Taxes . . . . . . . . . . . . . . . . . . . 4-1 ARTICLE V - EVENTS OF DEFAULT Section 5 . 1 . Events of Default Defined . . . . . . . . . . . . . 5-1 Section 5 . 2 . Remedies on Default . . . . . . . . . . . . . . . . . . . 5-1 Section 5 . 3 . No Remedy Exclusive . . . . . . . . . . . . . . . . . . . 5-1 Section 5 . 4 . No Additional Waiver Implied by One Waiver . . . • . . 5-1 Section 5 . 5 . AgreementtoPayAttorney ' s •Fees • • . � � andExpenses . . . . . . . . . . . . . . . . . . . . . . . . . . 5-2 ARTICLE VI - ADDITIONAL PROVISIONS Section 6 . 1 . Restrictions on Use . . Section 6 . 2 . . . . . . . . . . . . . . . . . . 6-1 Notices -and Demands . . . . . . . . . . . . . . . . . . . 6-1 Section 6 . 3 . Counterparts . . . . . . . 6-1 � Section 6 . 4 . Law Governing . . • . 6-1 Section 6 . 5 . Termination ofthis Agreement . . . . . . . . . 6-1 ( i ) � 3 TESTIMONIUM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-2 SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-2 EXHIBIT A - Development Property. . . . . . . . . . . . . . . . . . . . . . . . .A-1 EXHIBIT B - Assessment Agreement . . . . . . . . . . . . . . . . . . . . . . . . .B-1 EXHIBIT C - Certificate of Completion. . . . . . . . . . . . . . . . . . . . 0-1 ( ii ) CONTRACT FOR PRIVATE DEVELOPMENT THIS AGREEMENT, made and excuted on or as of the day of , 1986 , by and between the Housing and Rede- velopment Authority in and for the City of Shakopee , Minne- sota ( the "Authority" ) , a political subdivision of the State of Minnesota organized under the Constitution and laws of the State of Minnesota , and Shakopee Valley Souare Prnn- erties , a Minnesota partnership ( the "Developer" ) . r WITNESSETH: WHEREAS, the Board of Commissioners ( the "Board" ) of the Authority has determined that there is a need for develop- ment and redevelopment within the corporate limits of the City to provide employment opportunities , to improve the tax base and to improve the general economy of the City and the State of Minnesota; WHEREAS , in furtherance of these objectives , the Author- ity has established, pursuant to Minnesota Statutes , Sec- tions 462 . 411 et seq. ( the "Redevelopment Act" ) , a redevel- opment program known as the Modified Housing and Redevelop- ment Plan for its Minnesota River Valley Housing and Redevelopment Project No. 1 (which program is hereinafter referred to as the "Redevelopment Program" ) in the City to encourage and provide maximum opportunity for private development and redevelopment of certain property in the City which is not now in its highest and best use ; WHEREAS, as of the date of this Agreement the Redevelop- ment Program has been prepared and approved by the Board pursuant to the Redevelopment Act , and the Authority ' s Min- nesota River Valley Housing and Redevelopment Project No. 1 , as amended (hereinafter referred to as the "Redevelopment District" ) , has been established; WHEREAS, in order to achieve the objectives of the Rede- velopment Program and particularly to make the land in the Redevelopment District available for development by private enterprise for and in accordance with the uses specified in the Redevelopment Program, the Authority has determined to provide substantial aid and assistance in connection with the Redevelopment Program through the financing of certain of the public costs of development within the Redevelopment District ; and WHEREAS, the Authority believes that the fulfillment generally of the terms of this Agreement are in the best interests of the Authority and will promote the health, safety and welfare of the City ' s residents and are in accord with the public purposes and provisions of the applicable - 1 - � 3 State and local laws and requirements under which the Rede- velopment Program has been undertaken and is being assisted : 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 : 2 - ARTICLE I Definitions Section 1 . 1 . Definitions . In this Agreement , unless a different meaning clearly appears from the context : "Agreement" means this Contract for Private Development by and between the Authority and the Developer , as the same may be from time to time modified, amended or supplemented. "Assessed Property" means , as defined in the Assessment Agreement , the Project , as the same may exist from time to time . "Assessor ' s Minimum Market Values " means the agreed minimum market values for property tax purposes certified by the Assessor for Scott County pursuant to the Assessment Agreement . "Assessment Agreement" means the assessment agreement , substantially in the form of the attached Exhibit B, to be executed by and between the Authority and the Developer pursuant to the provisions and requirements of Minnesota Statutes, Section 273 . 76 , Subd. 8, establishing the Asses- sor ' s Minimum Market Values . "Authority" means the Housing and Redevelopment Author- ity in and for the City of Shakopee, Minnesota . "Board" means the Board of Commissioners , the governing body of the Authority. "Campground/Recreation Facilities" means the camping and recreational facilities to be constructed on the Development Property by the Developer pursuant to this Agreement , - con- sisting of approximately 216 pads for vehicles and an approximately 5, 940 square foot building which shall include restroom/shower , store , swimming pool and meeting room facilities . "Certificate of Completion" means the certification, in the form of the certificate attached as Exhibit C hereto, provided to the Developer pursuant to Section 3 . 4 of this Agreement, upon satisfactory completion of the Minimum Improvements . "City" means the City of Shakopee, Minnesota . "Construction Plans" means , as further described in Section 3 . 2 hereof, the plans , specifications , drawings and related documents on all improvements to be completed pur- 1 - 1 suant to this Agreement by the Developer on the Development Property, including all on-site improvements to be per- formed, installed or constructed thereon . Such plans shall , at a minimum, include for each building or other structure or improvement to be constructed at least the following , where applicable : ( i ) site plan; ( ii ) foundation plan; ( iii ) basement plans ; ( iv ) floor plan for each floor ; (v) cross sections of each ( length and width) ; (vi ) elevations (all sides ) ; and ( vii ) landscape plan, and shall include as well adequate plans , drawings and specifications relating to all driveways , walks , parking and other improvements to be constructed . "Council" means the City Council , the governing body of the City . "County" means the County of Scott , Minnesota . "Developer" means Shakopee Valley Square Properties , a Minnesota partnershir, or its successors or assigns under this Agreement . "Development Property" means the real property described in Exhibit A of this Agreement . "Event of Default" means any Event of Default described in Section 5 . 1 of this Agreement . "Minimum Improvements" means the construction on the Development Property by the Developer of the Motel Expan- sion, the Restaurant and the Campground/Recreation Facil- ities , and Minimum Improvements also includes all other and related improvements, incuding the Site Improvements and all related driveways , walks , parking, fixtures and equipment to be constructed or installed by the Developer pursuant to this Agreement . "Motel Expansion" means the addition to the existing motel , to be constructed by the Developer pursuant to this Agreement on the Development Property, of approximately 65 motel rooms , a swimming pool , a meeting room, and related facilities . "Party" means either the Developer or the Authority, as the context may require. "Parties" means the Developer and the Authority. "Project" means the Development Property and the Minimum Improvements . 1 - 2 "Redevelopment District" means the Authority ' s Minnesota River Valley Housing and Redevelopment Project No. 1 , as amended and as the same may be further amended. "Redevelopment Pro ram" means the Authority ' s Modified Housing and Redevelopment Plan for the Redevelopment Dis- trict , as amended . "Restaurant" means the approximately 8, 300 square foot free standing restaurant ( consisting of an a telv 6 , 000 square foot main floor and an ca roximap ly 2, 300 lsquare foot loft ) to e constructed by the Developer on the Development Property pursuant to this Agreement . "Site Improvements " means soil corrections , including excavation , filling and topsoil applications ; ponding and storm sewer improvements ; related draingage improvements ; removal of certain existing parking lots and driveways ; new parking lot and driveway preparations and construction; landscaping; utility installations ; and any other improve- ments of the Development Property deemed necessary or desir- able by the Developer to prepare said property for the con- struction of the Motel Expansion, the Restaurant or the Campground/Recreation Facilities ; all to be undertaken and completed on the Development Property by the Developer . "State" means the State of Minnesota . "Tax Official" means any City or County Assessor ; County Auditor; City, County or State Board of Equalization; the Commissioner of Revenue of the State; or any State or Fed- eral District Court , the Tax Court of the State or the State Supreme Court . "Termination Date" means the date of expiration of the Assessment Agreement , as provided in Section 4 . 1 of this Agreement . "Unavoidable Delays" means delays , outside the control of the Party claiming its occurrence, which are the direct result of strikes , other labor troubles , material shortages , unusually severe or prolonged bad weather , Acts of God, 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) which directly result in delays . 1 - 3 ARTICLE II Representations , Covenants and Warranties Section 2 . 1 . Representations and Warranties by the Authority . The Authority represents and warrants that : (a ) The Authority is a municipal corporation and political subdivision of the State organized and exist- ing under the laws of the State . (b) The Authority has the authority to enter into this Agreement and carry out its obligations hereunder , subject to the same enforceability exceptions provided in Section 2 . 2 (a ) with respect to the Developer . ( c ) The Development Property is or will be included within the Redevelopment District . (d) The Authority makes no representation or war- ranty, either express or implied, as to the Development Property or its condition or that the Development Prop- erty shall be suitable for the Developer ' s purposes or needs . ( e) The Authority has received no notice or com- munication from any local , state or federal official that the performance by the Developer or the Authority under this Agreement may or will be in violation of any local , state or federal law or regulation. Section 2 . 2 . Representations , Covenants and Warranties by the Developer . The Developer represents and warrants that : (a ) The Developer is a Minnesota partnership and has full power and authority to enter into this Agree- ment and the Assessment Agreement and to perform its obligations hereunder and under the Assessment Agreement and has taken or caused to be taken all actions neces- sary to make such Agreements , when executed and delivered by the Parties , the valid and binding agree- ments and obligations of the Developer , enforceable in accordance with their respective terms , except to the extent such enforceability may be limited by equitable principles and by laws affecting remedies and by bank- ruptcy, moratorium and insolvency laws and laws affecting creditors ' rights , heretofore or hereafter enacted . ( b) The Developer will undertake and complete the Project in accordance with the terms of this Agreement 2 - 1 ( including without limitation the Construction Plans ) , the Redevelopment Program and all applicable local , state and federal laws and regulations ( including , but not limited to, environmental , zoning, building code and public health laws and regulations ) . ( c) The Developer has received no notice or com- munication from any local , state or federal official that the execution of this Agreement or the performance by the Developer or the Authority under this Agreement is, may be or will be in violation of any local , state or federal law or regulation. (d) The Developer will use its best efforts to obtain, in a timely manner , 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 Project may be lawfully completed . ( e) Neither the execution and delivery of this Agreement and the Assessment Agreement and the consumma- tion of the transactions contemplated hereby nor the fulfillment of or compliance with the terms and condi- tions of this Agreement and the Assessment Agreement is prevented or limited by or in conflict with or will result in a breach of the terms , conditions or provi- sions of any evidences of indebtedness , agreement or instrument of whatever nature to which the Developer is now a party or by which it or its property is bound or will constitute a default under any of the foregoing . ( f ) The Developer releases from and covenants and agrees that the Authority and the members of the Board and the officers , agents , servants and employeesthereof (hereinafter , for purposes of this subsection, the "indemnified parties" ) shall not be liable for and agrees to indemnify and hold harmless the indemnified parties 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 Development Prop- erty. Except for any willful misrepresentation or any willful or wanton misconduct of the indemnified parties , the Developer agrees to protect and defend the indem- nified parties , now or forever , and further agrees to hold the indemnified parties harmless from any claim, demand, suit , action or other proceeding whatsoever by any person or entity whatsoever arising or purportedly arising ( 1 ) from this Agreement ( except with respect to any suit , action, demand or other proceeding brought by the Developer against the Authority to enforce the Developer ' s rights under this Agreement ) , or ( 2 ) the 2 - 2 transactions contemplated hereby or the acquisition , ` construction, installation, ownership, and operation of the Project . The indemnified parties shall not be lia- ble for any damage or injury to the persons or property of the Developer or its officers , agents , servants or employees or any other person who may be about the Proj- ect due to any act of negligence of any person. The Developer acknowledges and agrees that all covenants , stipulations , promises , agreements and obligations of the Authority contained herein shall be deemed to be the covenants , stipulations , promises , agreements and obli- gations of the Authority and not of any member of the Board or of any officer , agent , servant or employee of the Authority in the individual capacity thereof . (g) The Developer reasonably estimates that the cost of the Motel Expansion will not be less than approximately $1 , 200 , 000 , that the cost of the Restau- rant will not be less than approximately $440 , 000 , that the cost of the Campground/Recreation Facialities will not be less than approximately $500 , 000 and that the total cost of the Development Property and the Site Improvements exceeds $330 , 000 . (h) Prior to the issuance of the Certificate of Completion, except only by way of security for the pur- pose of obtaining financing necessary to enable the Developer to perform its obligations with respect to completing the Project under this Agreement , and any other purpose authorized by this Agreement , the Devel- oper ( except as so authorized) has not made or created and will not make or create or suffer to be made or created any total or partial sale , assignment , convey- ance , or lease , or any trust or power , or transfer in any other mode or form of or with respect to the Agree- ment or the Development Property or any part thereof or any interest therein, or any contract or agreement to do any of the same, without the prior written approval of the Authority . The Authority shall be entitled to require, except as may otherwise be provided in this Agreement , as conditions to any such approval that : ( i ) 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 Developer . ( ii ) Any proposed transferee , by instrument in writing satisfactory to the Authority shall , for itself and its successors and assigns , and expressly for the benefit of the Authority, have 2 - 3 expressly assumed all of the obligations of the Developer under this Agreement and agreed to be subject to all the conditions and restrictions to which the Developer is subject unless the Developer agrees to continue to fulfill those obligations, in which case the preceding provisions of this Section 2 . 2 ( h) ( ii ) shall not apply; provided, however , that the fact that any transferee of , or any other suc- cessor in interest whatsoever to, the Development Property, or any part thereof , shall not , for what- ever reason, have assumed such obligations or so agreed, shall not ( unless and only to the extent otherwise specifically provided in the Agreement or agreed to in writing by the Authority) deprive the Authority of any rights or remedies or controls with respect to the Development Property or the completion of the Project ; it being the intent of the Parties as expressed in this Agreement that ( to the fullest extent permitted by law and equity and excepting only in the manner and to the extent specifically provided otherwise in the Agreement ) no transfer of , or change with respect to, owner- ship in the Development Property or any part thereof, or any interest therein, however consum- mated or occurring , and whether voluntary or invol- untary, shall operate, legally or practically, to deprive or limit the Authority of or with respect to any rights or remedies or controls provided in or resulting from the Agreement with respect to the Development Property and the construction of the Project 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 Developer or any other party bound in any way by this Agreement or otherwise with respect to the construction or completion of the Project from any Of its obligations with respect thereto . ( iii ) There shall be submitted to the Authority for review and prior written approval all instru- ments and other documents involved in effecting the transfer of any interest in this Agreement or the Development Property governed by this Section 2 . 2 (h) . 2 - 4 ARTICLE III Site Acquisition and Improvement Assistance ; Construction Plans ; Certificate of Completion Section 3 . 1 . Assistance for Site Acquisition and Imr)rovement Costs . The Developer shall acquire all of the Development Property and , following the submission to and approval by the Authority of Construction Plans for the Minimum Improvements pursuant to Section 3 . 2 , the Developer shall undertake and complete the Project . Upon completion of the Project , provided that no Event of Default has occurred and is continuing or will with the passage of time occur hereunder , and provided further that the Authority shall have issued the Certificate of Completion to the Developer pursuant to Section - 3 . 4 . hereof , the Authority shall pay to the Developer the sum of $330 , 000 , which shall constitute a reimbursement and writedown of the costs of the Development Property and the Site Improvements . Section 3 . 2 . Construction Plans . (a) Prior to the commencement of the construction of the Minimum Improvements , the Developer shall have submitted to the Authority, and the Authority shall have approved pursuant to this Agreement , Construction Plans therefor . The Construction Plans shall provide for the construction of the Minimum Improvements and shall be in conformity with the Redevelopment Program and this Agreement , and all applicable state , federal and local laws and regulations . The Authority shall approve the Construction Plans in writing if : ( a) the Construction Plans conform to the terms and conditions of this Agree- ment ; ( b) the Construction Plans conform to the terms and conditions of the Redevelopment Program; ( c) the Construction Plans are adequate to provide for the con- struction of the Minimum Improvements ; and (d) no Event of Default has occurred; provided , however , that any such approval of the Construction Plans pursuant to this Section 3 . 2 shall constitute approval for the purposes of this Agreement only and shall not be deemed to con- stitute approval or waiver by the Authority or the City with respect to any building, zoning or other ordinances or regulations of the City, and shall not be deemed to be sufficient plans to serve as the basis for the issu- ance of a building permit if the Construction Plans are not as detailed or complete as the plans otherwise required for the issuance of a building permit . Such Construction Plans must be rejected in writing by the Authority within 30 days of submission or shall be deemed to have been approved by the Authority. If the Authority rejects the Construction Plans in whole or in 3 - 1 part , the Developer shall submit new or corrected Con- struction Plans within 30 days after receipt by the Developer of written notification of the rejection , accompanied by a written statement of the Authority specifying the respects in which the Construction Plans submitted by the Developer fail to conform to the requirements of this Agreement . 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 . Approval of the Construction Plans by the Authority shall not relieve the Developer of any obli- gation to comply, and such approval shall not constitute or be deemed to constitute a determination by the Authority that the Construction Plans do comply, with the terms and provisions of this Agreement , the provi- sions of the Redevelopment Program, or the provisions of applicable federal , State and local laws , ordinances and regulations , nor shall approval of the Construction Plans by the Authority be deemed to constitute a waiver of any Event of Default . ( b) If the Developer desires to make any material change in the Construction Plans after their approval by the Authority, the Developer shall submit the proposed change to the Authority for its approval . If the Con- struction Plans , as modified by the proposed change , conform to the approval criteria listed in Section 3 . 2(a ) with respect to the original Construction Plans , the Authority shall approve the proposed change . Such change in the Construction Plans shall be deemed approved by the Authority unless rejected in writing within 30 days by the Authority with a statement of the Authority ' s reasons for such rejection. Section 3 . 3 . Commencement and Completion of Construc- tion. (a) Subject to Unavoidable Delays , the Developer shall commence construction of the Minimum Improvements on or before July 1 , 1986 . ( b) Subject to Unavoidable Delays , the Developer shall have substantially completed the construction of the Minimum Improvements on or prior to July 1 , 1987 . ( c) All work with respect to the Project to be constructed or provided by the Developer on the Develop- ment Property shall be in conformity with the Construc- tion Plans as submitted by the Developer and approved by the Authority. 3 - 2 Section 3 . 4 . Certificate of Completion . Promptly after completion of the Project by the Developer in accordance with the provisions of this Agreement , upon the written request of the Developer to the Authority, the Authority shall furnish to the Developer the Certificate of Comple- tion, in substantially the form set forth in Exhibit C attached hereto. If upon request by the Developer the Authority shall refuse to furnish a Certificate of Comple- tion, the Authority shall furnish the reasons for such refusal . Such Certificate of Completion shall be a conclu- sive determination of satisfaction and termination of the agreements and covenants in this Agreement with respect to the obligations of the Developer to construct and complete the Project . Section 3 . 5 . Letter of Credit . The Developer shall furnish, or cause to be furnished, to the Authority, on or before the date on which the City authorizes the sale of its bonds to assist the Authority in financing the Authority ' s obligations hereunder , an irrevocable letter of credit ( the "Letter of Credit" ) acceptable in form and substance to the Authority from a financial institution acceptable to the Authority in the amount of $50 , 000 , effective until the date on which the Authority issues the Certificate of Completion and September 1 , 1988, whichever shall occur earlier , which provides that if the Minimum Improvements have not been substantially completed by September 1 , 1988 , such that a Certificate of Completion cannot be issued by the Authority, or if there occurs an Event of Default which remains uncured for 90 days , then the Authority may draw the entire amount of the Letter of Credit , which funds the Authority shall forever retain as partial liquidated damages or reimburse- ment of expenses ; provided that a Letter of Credit expiring prior to September 1 , 1988 , shall be acceptable to he Authority if such Letter of Credit provides that the Authority may draw thereon in the event that the Developer fails to furnish a replacement Letter of Credit inform and substance acceptable to the Authority at least thirty ( 30 ) days prior to the expiration of the Letter of Credit then in effect . No draw on the Letter of Credit shall , in and of itself, constitute a termination of this Agreement or absolve the Developer of any of its obligations hereunder . The Authority at its discretion a redu e the letter of credit prior to tie Issuance o the CerfiTi�ate ocf Completion. 3 - 3 ARTICLE IV Assessment A reement Section 4 . 1 . Execution of Assessment Agreement . At the time of execution and delivery of this Agreement , or at the time at which the Developer shall have acquired the Develop- ment Property, whichever is later , the Developer shall enter into the Assessment Agreement with the Authority, pursuant to the provisions of Minnesota Statutes , Section 273 . 76 , Subd . 8 , specifying the Assessor ' s Minimum Market Value which shall be established with respect to the Assessed Property, for calculation of real estate taxes . Specifi- cally, the Developer shall agree that the Assessor ' s Minimum Market Values of the Assessed Property, beginning January 2 , 1987 , and thereafter shall be not less than the amount or respective amounts set forth in the attached form of Assess- ment Agreement . Nothing in the Assessment Agreement shall limit the discretion of the assessor to assign market values to the property in excess of such Assessor ' s Minimum Market Values or prohibit the Developer from seeking through the exercise of legal or administrative remedies a reduction in such market values for property tax purposes , provided how- ever , that the Developer shall not seek a reduction of such market values below such Assessor ' s Minimum Market Values in any year so long as the Assessment Agreement shall remain in effect . The Assessment Agreement shall remain in effect through December 31 , 2000 ( the "Termination Date" ) , to the effect that the 2000 payable 2001 property taxes shall be the last taxes subject thereto . Pursuant to Minnesota Stat- utes , Section 273 . 76 , Subd . 8 , the Assessment Agreement shall be filed for record in the office of the county recorder or registrar of titles of Scott County, Minnesota, and such filing shall constitute notice to any subsequent encumbrancer or purchaser of the Development Property, whether voluntary or involuntary, and such Assess ent Agree- ment shall be binding and enforceable in itsmentirety against any such subsequent purchaser or encumbrancer . Section 4 . 2 . Real Property Taxes . (a) The Developer shall pay all real property taxes payable with respect to the Development Property and any other statutory or contractual duty which shall be payable or accrue following the Developer ' s acquisi- tion thereof pursuant to this Agreement , provided that this Agreement shall not impose personal liability upon the Developer for real property taxes . 4 - 1 (b) The Developer agrees that prior to the Termi- nation Date : ( i ) It will not seek administrative review or judicial review of the applicability of any tax statute relating to the taxation of real property contained within the Development Property deter- mined by any Tax Official to be applicable to the Redevelopment District or the Developer or raise the inapplicability of any such tax statute as a defense in any proceedings , including delinquent tax proceedings . ( ii ) It will not seek administrative review or judicial review of the constitutionality of any tax statute relating to the taxation of real property contained within the Development Property deter- mined by any Tax Official to be applicable to the Redevelopment District or the Developer or raise the unconstitutionality of any such tax statute as a defense in any proceedings , including delinquent tax proceedings . ( iii ) It will not seek any tax deferral or abatement , either presently or prospectively autho rized under Minnesota Statutes , Section 273 . 86 , or any other State or federal law, of the taxation of real property contained in the Development Property between the date of execution of this Agreement and the Termination Date; provided that the Developer may challenge a valuation in excess of the Asses- sor ' s Minimum Market Values , but may not seek a lower valuation than the Assessor ' s Minimum Market Values . 4 - 2 ARTICLE V Events of Default Section 5 . 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 any one or more of the following events : (a) Failure by the Developer to acquire the Devel- opment Property and to commence and complete the Minimum Improvements pursuant to the terms of this Agreement . observe ) orany Failure perform by the material covenant ,Developercondition,tally obligation or agreement on its part to be observedor performed under this Agreement . Section 5 . 2 . Remedies on Default . Whenever any Event of Default referred to in Section 5 . 1 of this Agreement occurs or with the passage of time or giving of notice, or both, will occur , the Authority may take any one or more of the following actions after giving 30 days ' written notice to the Developer of the Event of Default , but only if the Event of Default has not been cured within said 30 days : (a) The Authority may suspend its performance under the Agreement until it receives assurances from the Developer , deemed adequate by the Authority, that the Developer will cure its default and continue its performance under the Agreement . ( b) The Authority may cancel and rescind this Agreement . ( c) The Authority may take whatever action, including legal or administrative action, which may appear necessary or desirable to the Authority to col- lect any payments due under this Agreement or to enforce performance and observance of any obligation, agreement or covenant of the Developer under this Agreement . Section 5 . 3 . No Remedy Exclusive . No remedy herein conferred upon orreserved to the Authority is intended to be exclusive of any other available remedy or remedies here- under , but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement . No delay or omission to exercise any right or power accruing hereunder 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 . 5 - 1 Section 5 . 4 . No Additional Waiver Implied by One Wai- ver . In the event any agreement contained in this Agreement should be breached by any Party and thereafter waived by any 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 . Section 5 . 5 Agreement to Pay Attorney ' s Fees and Expenses . Whenever an Event of Default occurs and has not been cured during the applicable cure period and the Author- ity shall employ attorneys or incur other expenses payable to any third party for the collection of payments due or to become due or for the enforcement or performance or obser- vance of any obligation or agreement on the part of the Developer herein contained, the Developer agrees that it shall, on demand therefor , pay to the Authority the reason- able fees of such attorneys and such other expenses so incurred by the Authority . 5 - 2 ARTICLE VI Additional Provisions Section 6 . 1 . Restrictions on Use . The Developer agrees for itself , its successors and assigns and every successor in interest to the Development Property, or an y art thereof , that the Developer and such successors and assigns shall devote the Development Property to, and only to, and in accordance with, the uses specified in the City Code of Ordinances and in this Agreement . Section 6 . 2 . Notices and Demands . Except as may be 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 sent by registered or certified mail , postage prepaid , return receipt requested, or delivered personally, (a ) in the case of the Developer is addressed or delivered personally to Shakopee Valley Square Properties , c/o Shakopee Valley Motel , 1251 East First Avenue , Shakopee, Minnesota 55379 , Attention : Wallace Bakken; ( b) in the case of the Authority, is addressed or delivered personally to ' the Authority at the Shakopee City Hall, 129 East 1st Avenue, Shakopee, Minnesota 55379 , Attention : Executive Director ; or at such other address of a Party as may be designated in writing and forwarded to the other Party as provided in this Section. Section 6 . 3 . Counterparts . This Agreement may be exe- cuted in any number of counterparts , each of which shall constitute one and the same instrument . Section 6 . 4 . Law Governing . This Agreement shall be governed and construed in accordance with the laws of the State of Minnesota . Section 6 . 5 . Termination of this A reement . This Agreement shall terminate on the earlier of the Termination Date and the date on which this Agreement shall have been cancelled and rescinded by the Authority pursuant to Section 5 . 2 ( b) or ( c) hereof . The * Assessment Agreement shall also terminate upon termination of this Agreement this Section. pursuant to IN WITNESS WHEREOF, the Authority has caused this Agree- ment to be duly executed in its name and behalf by its duly 6 - 1 authorized representatives , and the Developer has caused this Agreement to be duly executed in its name and behalf by its duly authorized representatives on or as of the date first above written . THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE, MINNESOTA By Chairman And Executive Director 6 - 2 SHAKOPEE VALLEY SQUARE PROPERTIES By Its And Its [Execution page of Developer of Contract for Private Devel- opment between the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota, and Shakos V ! 1Py SQuare Properties ] 6 - 3 STATE OF MINNESOTA) ) ss . COUNTY OF SCOTT ) The foregoing instrument was acknowledged before me this day of f 1986 , by and the Chairman of the Board of Directors and Executive Director , respectively, of the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota , on behalf of said Authority. Notary Public 6 - 4 STATE OF MINNESOTA) ) ss . COUNTY OF ) The foregoing instrument was acknowledged before me this day of 1986 , by and the and , respectively, of Shakopee Valley Square Properties , a Minnesota partnership, on behalf of said Notary Public 6 - 5 EXHIBIT B ASSESSMENT AGREEMENT and ASSESSOR ' S CERTIFICATION By and between THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE, MINNESOTA and SHAKOPEE VALLEY SQUARE PROPERTIES This document drafted by : O ' CONNOR & HANNAN 3800 IDS Tower Minneapolis , Minnesota 55402 ( 612 ) 341-3800 B - 1 3 EXHIBIT A (Development Property) A - 1 THIS AGREEMENT, dated as of this day of ► 1986 , by and between the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota , a municipal cor- poration and political subdivision of the State of Minnesota organized and existing under the Constitution and laws of the State of Minnesota ( the "Authority" ) , and Shakopee Valley Square Properties , a Minnesota partnership ( the "Developer" ) ; WITNESSETH, that WHEREAS , on or before the date hereof the Authority and the Developer have entered into a Contract for Private Development dated as of , 1986 ( the "Development Agreement" ) , regarding certain real property located in the Authority ' s Minnesota River Valley Housing and Redevelopment Project No . 1 , pursuant to which the Developer is to acquire certain property, hereinafter referred to as the Development Property and legally described in Attachment A hereto; and WHEREAS, it is contemplated that pursuant to said Devel- opment Agreement the Developer will construct on the Devel- opment Property certain improvements ; and WHEREAS , the Authority and the Developer desire to establish minimum market values for the Development Property and the improvements to be constructed thereon pursuant to the Development Agreement ( as such Development Property and such improvements may exist from time to time, the "Assessed Property" ) , for the calculation of real property taxes , or taxes in lieu thereof pursuant to Minnesota Statutes , Sec- tion 272 . 01 , or any successor statute , pursuant to the pro- visions of Minnesota Statutes , Section 273 . 76 , Subdivision 8 : NOW, THEREFORE, the parties to this Agreement , in con- sideration of the promises , covenants and agreements made by each to the other , do hereby agree as follows : 1 . The minimum market values which shall be estab- lished for the Assessed Property as of January 2 of the following years shall not be less than yhe o-lowing amounts , respectively : Year Amounts 1987 $1 , 500 , 000 1988 and thereafter 3 , 000 , 000 2 . This Agreement shall terminate if the Development Agreement is terminated pursuant to Section 6 . 5 thereof . B - 2 3 . The minimum market values herein established shall be of no further force and effect and this Agreement shall terminate on December 31 , 2000 , to the effect that the 2000 payable 2001 property taxes shall be the last taxes subject to this Agreement . 4 . Nothing in this Assessment Agreement (a ) shall limit the discretion of the Assessor for Scott County to assign market values to the Assessed Property in excess of the minimum market values set out in paragraph 1 of this Agreement or (b) prohibit the Developer from seeking through the exercise of legal or administrative remedies a reduction in such market values for property tax purposes ; provided, however , that the Developer shall not seek a reduction of the market values of the Assessed Property below the minimum market values set out in paragraph 1 of this Agreement so long as this Agreement shall remain in effect . 5 . Neither the preambles nor provisions of this Agree- ment are intended to, nor shall they be construed as , mod- ifying the terms of the Development Agreement . 6 . This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties . HOUSING REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE, MINNESOTA By Chairman By Executive Director B - 3 SHAKOPEE VALLEY SQUARE PROPERTIES By Its And Its [ Execution page of Developer to Assessment Agreement between Shakopee Vallev SQuare Properties and the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota . ] B - 4 STATE OF MINNESOTA ) ) SS COUNTY OF SCOTT ) The foregoing instrument was acknowledged before me this day of 11 1986 , by and , the Chairman and Executive Director , respectively, of the Housing and Redevelopment Authority in and for the City of Shakopee, Minnesota , on behalf of said Authority. Notary Public B - 5 STATE OF MINNESOTA ) ) SS COUNTY OF ) The foregoing instrument was acknowledged before me this day of , 1986 , by and , the and , respectively, of Shakopee Valley Square Properties , a Minnesota partnership, on behalf of said Notary Public B - 6 Ilk rl ` �— ♦ 11 W IY0 - 1.-- sal 1 Lam- - fl �� ,\ 1 • ' 1 I kA N � _ — � � 11 �� 711 �'• � , ,..;- ' � > ` -- m C) UJ rn GO MA z S T. - , OA MARS HALL ROAi9 N N ••� I TRAIL � • CERTIFICATION BY SCOTT COUNTY ASSESSOR The undersigned , having reviewed a certain Assessment Agreement between the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota, and Shakopee Valley ,Square Properties , a Minnesota partnership_ ( the "Assessment Agreement" ) , and being of the opinion that the minimum market values contained in the Assessment Agreement appear reasonable , hereby certifies as follows : The undersigned Assessor , being legally responsible for the assessment of the above described property, hereby certifies that the market values assigned to such land and facilities thereon shall , as of January 2 , 1987 , and thereafter not be less than $2 , 109 , 300 ( until such time as the Assessment Agreement shall be its terms terminate) . Assessor for Scott County, Minnesota Dated: , 1986 . B - 8 EXHIBIT C CERTIFICATE OF COMPLETION WHEREAS, the Housing and Redevelopment Authority in and for the City of Shakopee, Minnesota, a municipal corporation and political subdivision of the State of Minnesota ( the "Authority" ) , and Shakopee Valley Square Properties , a Minnesota partnership ( the "Developer" ) , have executed a Contract for Private Development ] dated , 1986 ( the "Development Agreement" ) , with respect to the construction of a certain Minimum Improvements ( the "Improvements" ) on certain land ( the "Development Property" ) by the Developer in conformance with certain Construction Plans ( as defined in the Development Agreement ) and pursuant to certain other provisions of the Development Agreement ; and WHEREAS, said Developer has to the present date per- formed its undertakings under the Development Agreement in a manner deemed sufficient by the Authority to permit the execution of this certification; NOW, THEREFORE, this is to certify that the Minimum Improvements have been completed in substantial conformance with the Construction Plans . The Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota By Chairman By Executive Director C - 1 r MEMO TO: Shakopee Housing and Redevelopment Authority (HRA) FROM: Barry A. Stock, Admin. Aide RE: Resolution No. 86-3 ,A Resolution Expanding the project area for Redevelopment Project #1 and amending the Modified Housing and Redevelopmment Plan and Sebsequent Tax Increment Finance Plan. DATE: May 27, 1986 Introduction and Background On May 20, 1986 a majority of the Shakopee HRA board members agreed that the making of certain improvements ( storm sewer, downtown parking and landscaping and the 169 bridge EAW) could best be accomplished through a cooperative effort between the City and the Authority. To be more specific, the HRA recommended to City Council that a public hearing be set to hear comments on the expansion of the Redevelopment Project area and the amendment of the existing tax increasment financing plan to include the cost of the aforementioned public improvements. (Maps of the existing and proposed expanded Redevelopment Project Area are shown on pages I-C-1 and I-C-2 of attachment #1) The Modified Housing and Redevelopment Plan for Mn. River Valley Project No. 1 including the tax increment financing plan for Tax Increment Districts Nos. 3 ,4, 5, and 6 appears in attachment #1 . Note that the improvement costs to be added to the plan are shown on pages 1-18 and 1-19 . If the HRA desires to include the improvement projects in the plan, it would be appropriate at this time to approve Res. No. 86-3 . (See attachment #2) • Following the public hearing at the Council meeting and assuming no adverse comments from the public, it would be appropriate for the City Council to approve Res. No. 2565 . ( See attachment #3 ) Approval of the resolution would allow for the expansion of the Redevelopment Project Area and the incorporation of the aforementioned improvement projects and costs into the redevelopment plan and subsequent tax increment finace plan. Action Requested Housing and Redevelopment Authority Move to approve Res. No. 86-3 expanding the Mn. River Valley Housing and Redevelopment Project Area and amending the Modified Housing and Redevelopment Plan and Tax Increment Financing Plan Relating thereto. City Council Move to approve Res. No. 2565 expanding the Mn. River Valley Housing and Redevelopment Project Area and amending the Modified Housing and Redevelopment Plan and Tax Increment Financing Plan relating thereto. Attachment #2 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE COUNTY OF SCOTT STATE OF MINNESOTA RESOLUTION NO. 86-3 A RESOLUTION EXPANDING MINNESOTA RIVER VALLEY HOUSING AND REDEVELOPMENT PROJECT NO. 1 AND AMENDING THE MODIFIED HOUSING AND REDEVELOP- MENT PLAN RELATING THERETO PURSUANT TO THE PROVISIONS OF MINNNESOTA STATUTES, SEC=IONS 462 . 411 TO 462 . 716 , INCLUSIVE, AS AMEN'_ED; AND AMENDING THE TAX INCREMENT FINANCING PLANS RELATING TO TAX INCREMENT DISTRICTS NO. 2 THROUGH NO. 6 WITHIN THE PROJECT AREA, PUR- SUANT TO THE PROVISIONS 'OF MINNESOTA STATUTES, SECTIONS 273 . 71 TO 273 . 78 , INCLUSIVE, AS AMENDED. BE IT RESOLVED by the Board of Commissioners ( the "Com- missioners" ) of the Housing and Redevelopment Authority (the "Authority" ) in and for the City of Shakopee, Minnesota ( the "City" ) , as follows : Section 1 . Recitals . 1 . 01. It has been proposed that the Authority expand Minnesota River Valley Housing and Redevelopment Project No. 1 ( the "Redevelopment Project" ) and amend the Modified Hous- ing and Redevelopment Plan ( the "Redevelopment Plan" ) relating thereto, pursuant to and in accordance with Minne- sota Statutes, Section 462 . 411 to 462. 716, inclusive, as amended, and amend the Tax Increment Financing Plans relating to Tax Increment Districts No. 2 through No. 6 to reflect increased project costs and activities within the Redevelop- ment Project, pursuant to and in accordance with Minnesota- Statutes, Sections 273 . 71 to 273 . 78, inclusive, as amended. 1 . 02 . This Authority has investigated the facts and has caused to be prepared with respect thereto, an amendment to the Redevelopment Plan for the Redevelopment Project , setting forth the property to be added and the public improvements to be made within the Redevelopment Project. 1 . 03 . The Authority has performed all actions required by law to be performed prior to the expansion of the Redevel- opment Project; the amendment of the Redevelopment Plan; and the amendment of the Tax Increment Financing Plans relating w to Tax Increment Districts No. 2 through No . 6 ; has requested the written opinion of the City ' s Planning Commission relating to the proposed amendment of the Redevelopment Plan; and has requested that the City Council ( the "Council" ) of the City hold a public hearing relating to the above-stated matters . 1 . 04 . The Authority hereby determines that it is neces- sary and in the best interest of the Authority and the City at this time to approve the expansion of the Redevelopment Project , approve the amendment of the Redevelopment Plan, and approve the amendment of the Tax Increment Financing Plans relating to Tax Increment Districts No. 2 through No. 6 . Section 2 . Approval of Housing and Redevelopment Project No. 1 . Subject to the finding , determination and approval of the expansion of the Redevelopment Project by the Council , the expansion of the Redevelopment Project is hereby approved by the Commissioners of the Authority. The geographic area and project costs to be incurred within the Redevelopment Project shall be described in the Redevelopment Plan for the Redevel- opment Project approved in Section 4 hereof . Section 3 . Approval of Amendment of Tax Increment Financing Plans Relating to Tax Increment Districts No. 2 through and No. 6 . Subject to the finding , determination and approval of the amendment of the Tax Increment Financing Plans relating to Tax Increment Districts No. 2 through No. 6 by the Council , the proposed amendment of said Tax Increment Financing Plans to reflect increased project activities and costs within the Redevelopment Project , as described in the Redevelopment Plan approved in Section 4 hereof is hereby approved by the Com- missioners of the Authority . Section 4 . Approval of Redevelopment Plan . The proposed amendment of the Redevelopment Plan for the Redevelopment Project presented to the Authority on this date is hereby approved and adopted by the Authority. - 2 - Section 5 . Filing of Redevelopment Plan. The Authority shall cause the Redevelopment Plan , as finally approved and adopted , to be filed with the Minnesota Department of Energy and Economic Development . Dated : June 3 , 1986 . Chayr�,an Attest : Executive Director - 3 - Secretary ' s Certificate I , the undersigned , being the duly qualified and acting Secretary of the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota, hereby certify that I have carefully compared the attached and foregoing resolution with the original thereof on file in my office and further certify that the same is a full , true and complete transcript therefrom, insofar as the same relates to the approval of the expansion of Minnesota River Valley Housing and Redevelopment Project No. 1 , an amendment of the Redevelopment Plan relating thereto, and the amendment of the Tax Increment Financing Plans for Tax Increment Districts No . 2 through No. 6 . I further certify that said resolution was duly adopted by the Board of Commissioners of the Housing and Redevelop- ment Authority in and for the City of Shakopee , Minnesota, at a duly called and regularly held regular or special meeting thereof . WITNESS my hand officially as such Secretary this day of 1986 . Secretary Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota 4 - Attachment =3 Councilmember introduced the following resolution , the reading of which was dispensed with by unan- imous consent , and moved its adoption : CITY OF SHAKOPEE COUNTY OF SCOTT STATE OF MINNESOTA RESOLUTION NO. 2565 A RESOLUTION RELATING TO THE EXPANSION BY THE HOUS- ING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE OF MINNESOTA RIVER VALLEY HOUSING AND REDEVELOPMENT PROJECT NO. 1 , THE AMENDMENT OF THE MODIFIED HOUSING AND REDEVELOPMENT PLAN RELATING THERETO AND THE AMENDMENT OF THE TAX INCREMENT FINANCING PLANS RELATING TO TAX INCREMENT DISTRICTS NO. 2 THROUGH NO. 6 TO REFLECT INCREASED PROJECT COSTS WITHIN MINNESOTA RIVER VALLEY HOUSING AND REDEVELOPMENT PROJECT NO. 1 . BE IT RESOLVED by the City Council ( the "Council " ) of the City of Shakopee, Minnesota ( the "City" ) , as follows : Section 1. Recitals . 1. 01. It has been proposed and approved by the Housing and Redevelopment Authority in and for the City (the "Auth- ority" ) that the Authority expand Minnesota River Valley Housing and Redevelopment Project No. 1 ( the "Redevelopment Project" ) and amend the Modified Housing and Redevelop.ent Plan (the "Redevelopment Plan" ) L 1• ` relating �nereto, pursuant to and in accordance with Minneso-a Statutes , Sections 462 . 411 to 462 . 716, inclusive , as amended. It has been further prcposed and approved by the Authority that the Authority amend the Tax Increment Financing Plans relating to Tax Increment Districts No. 2 through No. 6 within the Redevelopment Project to reflect increased project costs and activities, pursuant to and in accordance with Minnesota Statutes, Sections 273 . 71 to 273 . 78 , inclusive, as amended . 1 . 02 . The Authority has caused to be prepared, and this Council has investigated the facts with re spent thereto, an amendment to the Redevelopment Plan for the Redevelopment Project setting forth the property to be included and the public improvements to be rade within the Redevelopment Project. I 1 . 03 . The Authority and the City have performed all actions required by law to be performed prior to the expan- sion of the Redevelopment Project , the amendment of the Redevelopment Plan and the amendment of the Tax Increment Financing Plans relating to Tax Increment Districts No . 2 through No . 6 . 1 . 04 . The Council hereby determines that it is neces- sary and in the best interest of the City at this time to expand the Redevelopment Project , to amend the Redevelopment Plan and to amend the Tax Increment Financing Plans relating to Tax Increment Districts No. 2 through No. 6 . Section 2 . Findings for the Expansion of the Redevelop- ment Project . 2 . 01 . The Council hereby finds , determines and declares that the proposed expansion of the Redevelopment Project is intended and, in the judgment of this Council , its effect will be , to further provide an impetus for commercial , industrial and housing development , increase employment and otherwise promote certain public purposes and accomplish certain objectives as specified in the Redevelopment Plan. Section 3 . Findinqs for the Amendment of the Redevelop- ment Plan. 3 . 01 . The Council hereby finds , determines and declares that the proposed amendment of the Redevelopment Plan is intended and, in the judgment of this Council , its effect will be , to further provide an impetus for commercial , in- dustrial and housing development, increase employment and otherwise promote certain public purposes and accomplish certain objectives as specified in the Redevelopment Plan. Section 4 . Findings for the Amendment of Tax Increment Financing Plans Relating to Tax increment Districts No . 2 TArouch No . 6 . 4 . 01 . The Council hereby finds that the amendment of the Tax Increment Financing Plans relating to Tax Increment Districts No . 2 through No. 6 is intended and, in the judg- ment of this Council , its effect will be, to reflect increased project activities and costs within the Redevelop- ment Project , as described in the Redevelopment Plan approved in Section 5 hereof and such amendment to said Tax Increment Financing Plans is hereby approved. Section 5 . Adcption of the Redevelopment Plan. 5 . 01 . The proposed amendment to the Redevelopment Plan presented to the Council on this date is hereby approved and 2 - adopted and shall be placed on file in the office of the City Clerk . Section 6 . Implementation of the Plans . 6 . 01 . The officers of the City, the City ' s financial advisor and underwriter therefor , and the City ' s legal coun- sel and bond counsel are authorized and directed to proceed with the implementation of the Redevelopment Plan and for this purpose to negotiate, draft, prepare and present to this Council for its consideration all further plans , reso- lutions , documents and contracts necessary for this purpose . The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same : Whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor and attested to by the City Clerk . Dated: June 3 , 1986 . N�avor Attest : City Clerk - 3 - Clerk ' s Certificate I , the undersigned, being the duly qualified and acting City Clerk of the City of Shakopee , Minnesota , hereby cer- tify that I have carefully compared the attached and forego- ing resolution with the original thereof on file in my office and further certify that the same is a full , true and complete transcript therefrom, insofar as the same relates to the approval of the enlargement of Minnesota River Valley Housing and Redevelopment Project No . 1 , the amendment of the Redevelopment Plan relating thereto, and the amendment of the Tax Increment Financing Plans for Tax Increment Dis- tricts No. 2 through No. 6 . I further certify that said resolution was duly adopted by the City Council of the City of Shakopee , Minnesota , at a duly called and regularly held regular or special meeting thereof . WITNESS my hand officially as such City Clerk this day of 1986 . City Clerk Shakopee, Minnesota 4 - vl MODIFIED HOUSING AND REDEVELOPMENT PLAN FOR MINNESOTA RIVER VALLEY HOUSING AND REDEVELOPMENT PROJECT NO. 1 INCLUDING TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT DISTRICT NOS. 3, 4, 5 AND 6 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE, MINNESOTA APPROVED BY THE CITY COUNCIL June 3, 1986 This document was drafted by: O' CONNOR & HANNAN 3800 IDS Tower 80 South Eighth Street Minneapolis, Minnesota 55402 612/341-3800 MUNICIPAL ACTION TAKEN Based upon the statutory authority described in the Modified Housing and Redevelopment Plan attached hereto and the public purpose findings by the Commissioners and for the purpose of fulfilling the Authority ' s housing and redevelop- ment objectives as set forth in the Modified Housing and Redevelopment Plan, the Commissioners have created, estab- lished and designated the Minnesota River Valley Housing and Redevelopment Project No. 1 pursuant to and in accordance with the requirements of Minnesota Statutes, Sections 462 . 411 through 462 . 716 , inclusive, as amended ( the "Housing and Redevelopment Act" ) . The following municipal action was taken in connection therewith: January 2, 1979 : The Redevelopment Plan for Valley Industrial Park Redevelopment Project No. 1 was adopted by the City Council . July 17, 1979 : The Redevelopment Plan for Valley Indus- trial Park Redevelopment Project No. 1 was modified by the City Council by expansion of the geographic area. February 28, 1984 : The Redevelopment Plan for Valley Industrial Park Redevelopment Project No. 1 was further modified by the City Council by expansion of the project area and redesignation as Minnesota River Valley Housing and Redevelopment Project No. 1 . August 7, 1984 : The Redevelopment Plan for Minnesota River Valley Housing and Redevelopment Project No. 1 was further modified by the City Council to incorporate Tax Increment Districts Nos . 3 and 5 and include increased project costs . May 20 , 1986 : The Redevelopment Plan for Minnesota River Valley Housing and Redevelopment Project No. 1 was further modified by the City Council to incorporate the Tax Increment Financing Plan for Tax Increment District No. 6 and include increased project costs. June 3 , 1986 : The Redevelopment Plan for Minnesota River Valley Housing and Redevelopment Project No. 1 was further modified by the City Council to reflect the expansion of the project area and the inclusion of increased project costs; physical incorporation of Tax Increment Financing Plan for Tax Increment District No. 4 into this document . The following municipal action was taken with regard to the Tax Increment Districts comprising Minnesota River Valley Housing and Redevelopment Project No. 1 : Tax Increment District No . 1 : (K-Mart) "Grandfathered" tax increment district; no tax increment financing plan required. Tax Increment District No. 2 : (Elderly Highrise) (To be incorporated into this document at a later time) Tax Increment District No. 3 : (Downtown Commercial Rehab) June 29 , 1982 : The Tax Increment Financing Plan for Tax Increment District No. lA within Downtown Redevelopment Project No. 1 was adopted by the City Council . August 7 , 1984 : The Tax Increment Financing Plan for Tax Increment District No. lA within Downtown Redevelopment Project No. 1 was modified and re- designated as Tax Increment District No. 3 within Minnesota River Valley Housing and Redevelopment Project No. 1 by the City Council . May 20, 1986 : The Tax Increment Financing Plan for Tax Increment District No. 3 was modified to reflect increased project costs within Minnesota River Valley Housing and Redevelopment Project No. 1 . June 3, 1986 : The Tax Increment Financing Plan for Tax Increment District No. 3 was modified by the City Council to reflect expansion of the project area for Minnesota River Valley Housing and Redevelopment Project No. 1 and increased project costs . Tax Increment District No. 4 : (Racetrack ) February 28, 1984 : The Tax Increment Financing Plan for Tax Increment District No. 4 within Minnesota River Valley Housing and Redevelopment Project No. 1 was adopted by the City Council . June 3, 1986 : The Tax Increment Financing Plan for Tax Increment District No. 4 was physically incorporated into this document and was modified to reflect expansion of the project area of Minnesota River Valley Housing and Redevelopment Project No. 1 and include increased project costs . Tax Increment District No. 5 : (Downtown Commercial Rehab continued) August 7 , 1984 : The Tax Increment Financing Plan for Tax Increment District No. 5 within Minnesota River Valley Housing and Redevelopment Project No. 1 was adopted by the City Council . May 20 , 1986 : The Tax Increment Financing Plan for Tax Increment District No. 5 was modified by the City Council to reflect increased project costs within Minnesota River Valley Housing and Redevelopment Project No. 1 . June 3 , 1986 : The Tax Increment Financing Plan for Tax Increment District No. 5 was modified by the City Council to reflect expansion of the project area for Minnesota River Valley Housing and Redevelopment Project No. 1 and increased project costs . Tax Increment District No. 6: (Shakopee Valley Motel ) May 20 , 1986 : The Tax Increment Financing Plan for Tax Increment District No. 6 within Minnesota River Valley Housing and Redevelopment Project No. 1 was adopted by the City Council . June 3 , 1986 : The Tax Increment Financing Plan for Tax Increment District No. 6 was modified by the City Council to reflect expansion of the project area for Minnesota River Valley Housing and Redevelopment Project No. 1 and increased project costs. . l TABLE OF CONTENTS (This Table of Contents is not part of the Modified Housing and Redevelopment Plan and is only for convenience of reference . ) PAGE SECTION I . MODIFIED HOUSING AND REDEVELOPMENT PLAN FOR MINNESOTA RIVER VALLEY HOUSING AND REDEVELOPMENT PROJECT NO. 1 Subsection 1 . 1 . Definitions . . . . . . . . . . . . . . . . . . . . . . . 1-1 Subsection 1 . 2 . Statement and Finding of Public Purpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-3 Subsection 1 . 3 . Statutory Authority. . . . . . . . . . . . . . . . 1-4 Subsection 1 . 4 . Statement of Objectives . . . . . . . . . . . . 1-6 Subsection 1 . 5 . Boundaries of Housing and Redevelopment Project No. 1 . . . . . . . . 1-8 Subsection 1 . 6 . Parcels to be Acquired in Whole or in Part Within Housing and Redevelopment Project No. 1 . . . . . . . 1-13 Subsection 1 .7 . Estimated Public Improvement Costs and Supportive Data. . . . . . . . . 1-14 Subsection 1 .8 . Public Improvements and Facilities Within Housing and Redevelopment Project No. 1 . . . . . . . 1-19 Subsection 1 .9 . Environmental Controls. . . . . . . . . . . . 1-20 Subsection 1 .10 . Proposed Reuse of Property. . . . . . . . 1-20 Subsection 1 .11 . Administration and Maintenance of Housing and Redevelopment Project No. 1 . . . . . . . . . . . . . . . . . . . . . 1-21 Subsection 1 .12. Rehabilitation. . . . . . . . . . . . . . . . . . . . 1-21 Subsection 1 . 13 . Relocation. . . . . . . . . . . . . . . . . . . . . . . . 1-21 Subsection 1 . 14 . Redevelopment Obligations . . . . . . . . . 1-22 EXHIBIT I-A Boundary Map of former Valley Industrial Park Redevelopment Project No. 1 As Established on January 2, 1979 . . . . . . . . . . . . . . . . . . . . . . I-A-1 EXHIBIT I-B Boundary Map of Modified Valley Industrial Park Redevelopment Project No. 1, as Modified on July 17 , 1979 . . . . . . . . . . . . I-B-1 EXHIBIT I-C Boundary Map of redesignated Modified Minnesota River Valley Housing and Redevelopment Project No. 1 as Modified on February 28, 1984 . . . . . . . . . . . . . . . . . . . . I-C-1 ( i) SECTION II . REDEVELOPMENT PLAN FOR TAX INCREMENT DISTRICT NO. 1 (K-MART) . . . . . . . . . . 2-1 "Grandfathered" tax increment district ; no tax increment financing plan required SECTION III . TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 2 (ELDERLY HIGHRISE) . . . . . . . . . . . . . . . . . . . . . . . . . 3-1 ( to be incorporated into this document at a later time) SECTION IV. TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 3 (DOWNTOWN COMMERCIAL REHAB) Subsection 4 . 1 . Statement of Objectives ( ref) . . . . . . 4-1 Subsection 4 . 2 . Modified Housing and Redevel- opment Plan ( ref) . . . . . . . . . . . . . . . . . . 4-1 Subsection 4 . 3 . Parcels to be Included in Tax Increment District No. 3 . . . . . . . . . . . 4-1 Subsection 4 . 4 . Parcels in Acquisition. . . . . . . . . . . . . 4-1 Subsection 4 . 5 . Development Activity in Minnesota River Valley Housing and Redevelopment Project No. 1 for which Contracts have been Signed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-2 Subsection 4 . 6 . Other Specific Development Expected to Occur Within Minnesota River Valley Housing and Redevelopment Project No. 1. . . . • . . . . . . . . . . . . . . . . . 4-2 Subsection 4 . 7 . Estimated Cost ofProject . . . . . . . . . . 4-2 Subsection 4 . 8 . Estimated Amount of Bonded Indebtedness. . . . . . . . . . . . . . . . . . 4-2 Subsection 4 . 9 . Sources of Revenue. . . . . . . . . . . . . . 4-2 Subsection 4 .10 . Estimated Captured Assessed Value • . • . • • . 4-2 Subsection 4 . 11 . Type ofTaxIncrementDistrict . . . . . 4-2 Subsection 4 . 12 . Duration of Tax Increment District No. 3 . . . . . . . . . . . . . . . . . . . . . 4-3 Subsection 4 . 13 . Estimated Impact on Other Taxing Jurisdictions . . . . . . . . . . . . . . . 4-3 Subsection 4 . 14 . Modification of Tax Increment District No. 3 and/or Tax Increment Financing Plan. . . . . . . . . . . 4-4 EXHIBIT IV-A Boundary Map of Tax Increment District No. 3 as established June 29 , 1982 . . . . . IV-A-1 EXHIBIT IV-B Cash Flow Analysis. . . . . . . . . . . . . . . . . . . . . IV-B-1 ( ii ) SECTION V. TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 4 (RACETRACK) . . . . . . . . 5-1 Subsection 5 . 1 . Statement of Objectives . . . . . . . . . . . . 5-1 Subsection 5 . 2 . Modified Housing and Redevelopment Plan. . . . . . . . . . . . . . . . 5-1 Subsection 5 . 3 . Parcels to be Included in Tax Increment District No. 4 . . . . . . . 5-1 Subsection 5. 4 . Parcels in Acquisition . . . . . . . . . . . . . 5-1 Subsection 5 . 5. Development Activity in Housing and Redevelopment Project No. 1 For Which Contracts Have Been Signed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-2 Subsection 5. 6. Other Specific Development Expected to Occur Within Housing and Redevelopment Project No. 1 . . . . 5-2 Subsection 5. 7 . Estimate Cost of Project . . . . . . . . . . . 5-2 Subsection 5 . 8. Bonded Indebtedness to be Incurred. . . . . . . . . . . . . . . . . . . . . . . . . . 5-2 Subsection 5 . 9 . Sources of Revenue . . . . . . . . . . . . . . . . . 5-2 Subsection 5 . 10 . Estimated Captured Assessed Value and Estimate of Tax Increment . . . . . . . . . . . . . . . . . . . . . . . . . . 5-2 Subsection 5 . 11 . Type of Tax Increment District . . . . . 5-3 Subsection 5 . 12 . Duration of Tax Increment District No. 4 . . . . . . . . . . . . . . . . . . . . . 5-3 Subsection 5 . 13 . Estimated Impact on Other Taxing Jurisdictions . . . . . . . . . . . . . . . 5-3 Subsection 5 . 14 . Modification of Tax Increment District No. 4 and/or Tax Increment Financing Plan. . . . . . . . . . . . . . . . . . . . . 5-4 EXHIBIT V-A Boundary Map of Tax Increment District No. 4 as established February 28, 1984 . . . . . . . . . . . . . . . . . . . . . . .V-A-1 SECTION VI . TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 5 (DOWNTOWN COMMERCIAL REHAB CONTINUED) Subsection 6 . 1. Statement of Objectives ( ref ) . . . . . . 6-1 Subsection 6 . 2. Modified Housing and Redevel- opment Plan ( ref) . . . . . . . . . . . . . . . . . .6-1 Subsection 6 . 3. Parcels to be Included in Tax Increment District No. 5 . . . . . . . . . . .6-1 Subsection 6 . 4 . Parcels in Acquisition. . . . . . . . . . . . . 6-1 Subsection 6 . 5 . Development Activity in Minnesota River Valley Housing and Redevel- opment Project No. 1 for which Contracts have been Signed. . . . . . . . . 6-1 ( iii ) Subsection 6 . 6 . Other Specific Development Expected to Occur Within Minnesota River Valley Housing and Redevelopment ProjectNo. 1 . . . . . . . . . . . . . . . . . . . . . . 6-1 Subsection 6 . 7 . Estimated Cost of Project . . . . . . . . . . 6-2 Subsection 6 .8. Estimated Amount of Bonded Indebtedness . . . . . . . . . . . . . . . . . . . . . . . 6-2 Subsection 6 . 9 . Sources of Revenue . . . . . . . . . . . . . . . . . 6-2 Subsection 6 . 10 . Estimated Captured Assessed Value. . 6-2 Subsection 6 . 11 . Type of Tax Increment District . . . . . 6-2 Subsection 6 . 12 . Duration of Tax Increment District No. 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-2 Subsection 6 . 13 . Estimated Impact on Other Taxing Jurisdictions . . . . . . . . . . . . . . . 6-3 Subsection 6 . 14 . Modification of Tax Increment District No. 5 and/or Tax Increment Financing Plan . . . . . . . . . . . 6-3 EXHIBIT VI-A Boundary Map of Tax Increment District No. 5 as established August 7 , 1984 . . . . . . . . . . . . . . . . . . . . . . . . .VI-A-1 SECTION VII . TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 6 ( SHAKOPEE VALLEY MOTEL) Subsection 7 . 1 . Statement of Objectives ( ref) . . . . . . 7-1 Subsection 7 . 2. Modified Housing and Redevel opment Plan ( ref) . . . . . . . . . . . . . . . . . .7-1 Subsection 7 . 3. Parcels to be Included in Tax Increment District No. 6 . . . . . . . . . . . 7-1 Subsection 7 . 4 . Parcels in Acquisition. . . . . . . . . . . . .7-1 Subsection 7 . 5 . Development Activity in Minnesota River Valley Housing and Redevel- opment Project No. 1 for which Contracts have been Signed. . . . . . . . . 7-1 Subsection 7 .6. Other Specific Development Expected to Occur Within Minnesota River Valley Housing and Redevelopment ProjectNo. 1. . . . . . . . . . . . . . . . . . . . . 7-1 Subsection 7 . 7 . Estimated Cost ofProject . . . . . . . . . .7-1 Subsection 7 .8. Estimated Amount of Bonded Indebtedness . . . . . . . . . . . . . . . . . . . . . . . 7-1 Subsection 7 . 9 . Sources of Revenue. . . . . . . . . . . . . . . . . 7-2 Subsection 7 .10 . Estimated Captured Assessed Value . . 7-2 Subsection 7 . 11. Type of Tax Increment District . . . . . 7-2 Subsection 7 .12. Duration of Tax Increment District No. 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7-2 Subsection 7 . 13 . Estimated Impact on Other Taxing Jurisdictions . . . . . . . . . . . . . . . 7-3 Subsection 7 . 14 . Modification of Tax Increment District No. 6 and/or Tax Increment Financing Plan. . . . . . . . . . . 7-3 ( iv) EXHIBIT VII-A Boundary Map of Tax Increment District No. 6 . . . . . . . . . . . . . . . . . . . . . . .VII-A-1 EXHIBIT VII-B Legal Description of Parcels Constituting Tax Increment District No. 6 . . . . . . . . . . . . . . . . . . . . . . . .VII-B-1 APPENDIX A ADMINISTRATIVE GUIDE FOR THE ADMINISTRA- TION OF THE MODIFIED HOUSING AND REDEVEL- OPMENT PLAN FOR HOUSING AND REDEVELOPMENT PROJECT NO. 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .A-1 Exhibit 1 Model Information Form to be Submitted to the School Boards, Scott County Board and the Minnesota State Auditor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1 ) APPENDIX B DATES OF PUBLIC ACTION AND RESOLUTION NOS. ESTABLISHING HOUSING AND REDEVELOPMENT PLAN, TAX INCREMENT DISTRICTS, TAX INCREMENT FINANCING PLANS AND MODIFICATIONS THEREOF APPENDIX C EXCERPT FROM THE CITY OF SHAKOPEE DOWNTOWN REVITALIZATION FINAL REPORT (v) SECTION I . MODIFIED HOUSING AND REDEVELOPMENT PLAN FOR MINNESOTA RIVER VALLEY HOUSING AND REDEVELOPMENT PROJECT NO. 1 Subsection 1 . 1 . Definitions. The terms defined below shall , for purposes of this Modified Housing and Redevelop- ment Plan, have the meanings herein specified, unless the context otherwise specifically requires : "Authority" means the Housing and Redevelopment Author- ity in and for the City of Shakopee, Minnesota, created or authorized to be created by the Housing and Redevelopment Act defined below. "City" means the City of Shakopee, a municipal corpora- tion and political subdivision of the State of Minnesota, subject to the legal requirements of Chapter 412 of Minne- sota Statutes relating to statutory cities . "Commissioners" means the five commissioners consti- tuting the Authority who are appointed by the Mayor, with the approval of the City Council, as provided in §462 . 425, Subd. 6 of the Housing and Redevelopment Act . "Comprehensive Plan" means the City ' s comprehensive plan submitted to the Metropolitan Council pursuant to Minnesota Statutes, §473 . 173, which contains the objectives, policies, standards and programs to guide public and private land use, development, redevelopment and preservation for all lands and water within the City through 1990 . "Council" means the City Council of the City, also re- ferred to as the governing body as defined in Minnesota Statutes, §462 . 421, Subd. 5 . "County" means the County of Scott, Minnesota. "Housing and Redevelopment Act" means the statutes lo- cated at Minnesota Statutes, §§462. 411 through 462 . 716, in- clusive, as amended. "Housing and Redevelopment Authority" means a housing and redevelopment authority created or authorized to be created by Minnesota Statutes, §§462 . 415 to 462. 705 . "Housing and Redevelopment Project No 1" means the Minnesota River Valley Housing and Redevelopment Project No. 1 , a "project" as said term is defined in Minnesota Stat- utes, §462 . 421 , Subd. 13 . 1 - 1 Modified Housing and Redevelopment Plan" means the plan as modified from time to time by the Authority and the City for Housing and Redevelopment Project No. 1 . "Project" means the public improvements and facilities to be constructed within Housing and Redevelopment Project No. 1 , as more fully described in Subsection 1 . 8. of the Modified Housing and Redevelopment Plan. "Project Area" means the real property located within the geographic boundaries of Housing and Redevelopment Proj- ect No. 1 . "Redevelopment Plan" means the original plan approved on January 2 , 1979 and modified from time to time by the Authority and the City for Housing and Redevelopment Project No. 1 as defined in §462 . 421, Subd. 15 , of the Housing and Redevelopment Act . "�ecial Assessment Bonds" means the special assessment bonds issued by the City to finance certain public improve- ments within Housing and Redevelopment Project No. 1 pursu- ant to the Modified Housing and Redevelopment Plan. The term "Special Assessment Bonds" shall also include any obli- gations issued to refund the Special Assessment Bonds . "State" means the State of Minnesota. "Tax Increment Bonds" means the general obligation or revenue tax increment bonds issued and to be issued by the City to finance the public costs associated with Housing and Redevelopment Project No. 1 as stated in the Modified Housing and Redevelopment Plan and in the Tax Increment Financing Plans for the Tax Increment Districts within Housing and Redevelopment Project No. 1. The term "Tax Increment Bonds" shall also include any obligations issued to refund the Tax Increment Bonds. "Tax Increment District" means any tax increment dis- trict presently established or to be established in the future in Housing and Redevelopment Project No. 1 . "_Tax Increment Financing Act" means the statutory provi- sions of Minnesota Statutes, §§273 .71 through 273 . 78, inclu- sive, as amended. "Tax Increment Financing Plan" means the respective Tax Increment Financing Plan for each Tax Increment District located within the Project Area. 1 - 2 ( SUBSECTION 1 . 1 WAS ADOPTED AS A MODIFICATION TO THE MODIFIED HOUSING AND REDEVELOPMENT PLAN ON FEBRUARY 28, 1984 AND FURTHER AMENDED JUNE 3 , 1986 . ) Subsection 1 . 2 . Statement and Finding of Public Pur- pose . The Commissioners of the Authority have determined that there is a need for housing, development and redevelop- ment within the corporate limits of the City to provide employment opportunities , to improve the tax base and to improve the general economy of the State of Minnesota. The Commissioners have determined that there is a need for safe, decent, sanitary housing for all residents of the City, particularly for the elderly and handicapped. There is a need to provide an adequate housing supply for all residents at a cost they can afford, particularly to provide standard housing choices to persons and families of low and moderate income. Therefore, the Commissioners have deter- mined that certain parcels of property qualify as a "housing project" pursuant to Minnesota Statutes, Section 462 . 421 , Subdivision 12 and as a "housing district" pursuant to Min- nesota Statutes, Section 273 .73, Subdivision 11 . The Commissioners have found that there are certain parcels of property within the City which are potentially more useful, productive and valuable than is being realized under existing conditions, and, therefore, are not contrib- uting to the tax base of the City to their full potential. The Commissioners have determined that certain parcels of property, substantially occupied by buildings, streets, utilities or other improvements, are deemed to be blighted because fifty percent of the improvements are structurally substandard to a degree requiring substantial renovation or clearance or that twenty percent of the improvements -are structurally substandard and that another thirty percent of these improvements require renovation or clearance due to inadequate street layout , incompatible uses or land use relationships, excessive diversity or obsolete buildings not suitable for improvements or conversion. The Commissioners have determined that certain parcels of property are deemed to be blighted by virtue of conditions of unusual and diffi- cult physical characteristics of the ground, which condi- tions have prevented normal development of the land by pri- vate enterprise, resulting in a stagnant and unproductive condition of land potentially useful and valuable for con- tributing to the public health, safety and welfare. There- fore, the Commissioners have determined that certain parcels of property qualify as a "redevelopment project" pursuant to Minnesota Statutes, Section 462 . 421, Subdivision 13 and as a "redevelopment district" pursuant to Minnesota Statutes, Section 273 . 73, Subdivision 10 . 1 - 3 The Commissioners have found that other parcels of prop- erty do not qualify as housing or redevelopment districts as defined above but do qualify as an "economic development district" pursuant to Minnesota Statutes, Section 273 . 73 , Subd. 12 because the project or a portion of the project will discourage commerce, industry or manufacturing from moving operations to another state, will result in increased employment or will result in preservation and enhancement of the City ' s tax base. The Commissioners have further determined that the es- tablishment of Housing and Redevelopment Project No. 1 will provide the Authority and the City with the ability to achieve certain public purpose goals not otherwise obtain- able in the foreseeable future without the intervention of the Authority and the City in the normal development pro- cess . These goals include: the restoration and improvement of the tax base and the tax revenue generating capacity of the housing and redevelopment project , increased employment opportunities, the availability of safe healthful housing for all residents , the realization of comprehensive planning goals, the removal of blighted conditions, and the revitali- zation of the property within the housing and redevelopment project to create an attractive, comfortable, convenient and efficient area for industrial, commercial and related uses. (SUBSECTION 1 . 2 WAS ADOPTED AS A MODIFICATION TO THE MODIFIED HOUSING AND REDEVELOPMENT PLAN ON FEBRUARY 28, 1984) . Subsection 1 . 3 . Statutory Authority. THE HOUSING AND REDEVELOPMENT ACT. The Authority has determined that it is desirable and in the public interest to designate a specific area within the corporate limits of the City as Housing and Redevelopment Project No. 1 and to establish, modify and administer a housing and redevelopment plan ( the "Modified Housing and Redevelopment Plan" ) for Housing and Redevelop- ment Project No. 1, pursuant to the provisions of the Housing and Redevelopment Act . Financing of the housing portions of Housing and Rede- velopment Project No. 1 for the handicapped and the elderly and for single family and multi-family housing, including both low and moderate income housing, will be accomplished, in part, through issuance of Minnesota Statutes, Chapter 462C and Section 462 . 445 , Subdivisions 10 , 11 and 12 bonds or other obligations . Housing bonds or other housing obligations that were approved by official action of the City or Authority before April 25, 1979 and exempted from the provisions of the Mortgage Subsidy Bond Tax Act of 1980 , P.L. 96-499 , pursuant to Section 1104 (b) were issued without regard to the restrictions of Minnesota Statutes, Chapter 462C as provided by Section 462C. 10 . 1 - 4 The financing of certain public improvements to be made within Housing and Redevelopment Project No. 1 shall be accomplished, in part , through the use of funds which may be available to the Authority from any source, including grants, special assessment bonds or funds furnished to the Authority by the City which may include the proceeds of bonds issued by the City, pursuant to Section 462 . 581 ( 9 ) of the Housing and Redevelopment Act, to pay all or any part of the Authority of activities authorized by Section 462 . 445, Subdivision 1 , Clause 7 of the Housing and Redevelopment Act . THE MINNESOTA TAX INCREMENT FINANCING ACT. The Tax Increment Financing Act provides the procedure for the establishment of tax increment districts for the use of tax increment financing authorized by the Housing and Redevelop- ment Act described above for the funding of qualified public activities and improvements . The Tax Increment Financing Act authorizes the estab- lishment within any tax increment district within Housing and Redevelopment Project No. 1 of one or more of the fol- lowing types of tax increment districts : ( i ) a redevelop- ment district; ( ii ) a housing district; and/or ( iii ) an eco- nomic development district. The requirements for establish- ing each of the above are set forth in Section 273. 73, Sub- divisions 10 , 11 and 12, respectively, of the Tax Increment Financing Act . The Tax Increment Financing Act also desig- nates, for each of the above types of tax increment dis- tricts, the limitations and requirements that apply to ac- tivities and public improvements which can be financed for each type of tax increment district . The modification of each tax increment financing plan shall be governed by the requirements of Section 273 . 74 , Subd. 4, of the Tax Increment Financing Act, and the City Council, by this Modified Housing and Redevelopment Plan, hereby will establish the last subsection of each tax incre- ment financing plan for each tax increment district as the subsection in which any modifications to the tax increment financing plan are stated. Appendix B of this Modified Housing and Redevelopment Plan is hereby designated as the place where dates of public action and resolution numbers of each resolution passed by the Council modifying in any manner the Modified Housing and Redevelopment Plan or any tax increment financing plan shall be located and shall become a part of this Modified Housing and Redevelopment Plan. 1 - 5 Subsection 1 . 4 . Statement of Objectives . The Authority and the City seek to achieve the following specific objec- tives as to appropriate land uses and to serve as an outline of general standards of housing, development and redevelop- ment : (AS ORIGINALLY ADOPTED FOR K-MART ON JANUARY 2, 1979 ) . The Housing and Redevelopment Authority and the City of Shakopee through this Modified Housing and Redevelopment Plan, seek to achieve the following objectives : a . To provide logical and organized land use for the area consistent with the City comprehensive plan and zoning ordinance. b. To eliminate blighting influences which to date have impeded potential development in the area. C. To provide safe and adequate drainage in this area. d. To provide adequate utilities and other public improvements and facilities to enhance the area for both new and existing development . e. To stimulate commercial and industrial development in the Project area and in the City. f . To provide increased employment and to supplement the financial and property tax base of the City. g. To provide maximum opportunity, consis- tent with the sound needs of the City as a whole, for redevelopment by private enterprise. (EXPANDED ON JUNE 29 , 1982 TO INCLUDE ADDITIONAL DOWNTOWN COMMERCIAL REHAB OBJECTIVES) h. To encourage planning for development of a desirable and unique character within the down- town business district through quality and coordi- nated land use alternatives and design in new and remodeled buildings and sites, in a manner consis- tent with the comprehensive plan of the City and with a minimum adverse impact on the environment . 1 - 6 i . To establish a comprehensive commercial rehabilitation loan program to prevent further economic and physical deterioration of small and medium size commercial buildings within the City. j . To acquire certain parcels within the downtown business district which are not now in productive use or in their highest and best use, to make soil corrections and to construct public im- provements on said parcels, thereby promoting and facilitating the development and redevelopment of other property in the City. k . To sell or lease the improved parcels to private developers who will provide increased employment opportunities in the City and the sur- rounding area and increase the tax base of those taxing jurisdictions within which the downtown business district is located, in order to better enable such entities to pay for governmental ser- vices and programs required to be provided by them. 1 . To provide for the financing and con- struction of public improvements and facilities in and adjacent to the downtown business district, in order to effectively service the development and redevelopment in and about the downtown business district. (FURTHER EXPANDED ON FEBRUARY 28, 1984 TO INCLUDE ADDITIONAL RACETRACK OBJECTIVES) M. To encourage planning and development of a desirable and unique character within Housing and Redevelopment Project No. 1 through quality land use alternatives and design quality in new and remodeled buildings and residences , in a manner consistent with the comprehensive plan of the City and with a minimum adverse impact on the environ- ment . n. To acquire certain property within Hous- ing and Redevelopment Project No. 1 which is not now in productive use or in its highest and best use, to make soil corrections on said property and to construct public improvements on said property, thereby promoting and securing the development of other land in the City. o. To subdivide and sell or lease the im- proved property to private developers, including 1 - 7 new, small and/or local businesses , which will pro- vide increased employment opportunities in the City and the surrounding area and increase the tax base of those taxing jurisdictions within which Housing and Redevelopment Project No. 1 is located, in order to better enable such entities to pay for governmental services and programs required to be provided by them. P. To provide safe, decent , sanitary housing for all residents of the City at a cost they can afford. q. To provide additional new housing units so as to accommodate the needs of expanding commer- cial and industrial employment base including high- quality housing choices to persons and families of low and moderate income. r . To provide sound residential neighbor- hoods that are ascetically developed, well located and adequately serviced with municipal utilities and amenities . S. To provide the impetus for residential development by private enterprise consistent with the goals of the Authority and the City including the policies, present and future housing needs, and housing allocation plans and implementation pro- grams of the Housing Element of the Metropolitan Development Guide of the Metropolitan Council of the Twin Cities Area. Subsection 1. 5 . Boundaries of Housing and Redevelopment Project No. 1 . Boundaries of Redevelopment Plan for the Valley Industrial Park Redevelopment Project No. 1 as established on January 2 , 1979 (SEE EXHIBIT I-A FOR BOUNDARY MAP. ) The property which comprised the original Valley Industrial Park Redevelopment Project No. 1 is legally described as follows : Lot 1, Block 1, Valley Park, 3rd Addi- tion, City of Shakopee, Minnesota; and Boundaries of Redevelopment Project No. 1 were modified on July 17 , 1979 to include the follow- ing : (SEE EXHIBIT I-B FOR BOUNDARY MAP. ) 1 - 8 The Right of way of County Road 83 South- erly of Trunk Highway 101 and northerly of County Road 16; Lot 1, Block 1, Valley Third Addition; and Lot 13 , Block One, Valley Park Fifth Addition; and the West 1/2 of Section 9, Township 115, Range 22, except that part of the West 1/2 of Sec- tion 9, Township 115, Range 22, Southerly of the centerline of County Road 16; all lying within the City of Shakopee, Scott County, Minnesota . Increased Geographic Area of Housing and Redevelop- ment Project No. 1 as Modified on February 28, 1984 . ( SEE EXHIBIT I-C FOR BOUNDARY MAP. ) (The boundaries of Redevelopment Project No. 1 as modified on July 17 , 1979 are included in the ex- panded project area) Section 31, 32, 33 , 34 , 35 and 36, Town- ship 116, Range 22 south of the Minnesota River , Scott County, Minnesota. That part of Section 1 , 2, 3, 4, 5, 10 and 11, Township 115, Range 22, Scott County, Minnesota, lying northerly of the southerly right of way of the Trunk High- way 101 Bypass as recorded in Document Number 179496 in the office of the Scott County Recorder . That part of Section 12, Township 115, Range 22, Scott County, Minnesota lying northerly of the following described line: Beginning at the Southwest Corner of the Northwest Corner of said Section 12, thence northerly to the southerly right of way of the Trunk Highway 101 Bypass as recorded in Document Number 179496 in the office of the Scott County Recorder, to the true point of beginning, thence east- erly along said southerly right of way to the intersection with the southerly right of way of Trunk Highway 101, thence east- erly along said Trunk Highway 101 right of way to the East line of said Section 12 and there terminating . 1 - 9 That part of the East Half of Section 9 , Township 115, Range 22, Scott County, Minnesota, lying northerly of the south- erly right of way of the Trunk Highway 101 Bypass as recorded in Document Number 179496 in the office of the Scott County Recorder . That part of the West Half of Section 9 , Township 115, Range 22, Scott County, Minnesota, lying northerly of the south- erly right of way of County Road No. 16 . That part of the West Half of Section 9 , Township 115, Range 22 , Scott County, Minnesota, lying northerly of the south- erly right of way of the Trunk Highway 101 Bypass as recorded in Document Number 179496 in the office of the Scott County Recorder . The South Half of the North Half of Sec- tion 7, Township 115, Range 22, Scott County, Minnesota. That part of the South Half of Section 7, Township 115, Range 22, Scott County, Minnesota, lying northerly of the south- erly right of way of the Trunk Highway 101 Bypass as recorded in Document Number 179496 in the office of the Scott County Recorder . That part of Section 8, Township 115, Range 22, Scott County, Minnesota, lying northerly of the southerly right of way of the Trunk Highway 101 Bypass as re- corded in Document Number 179496 in the office of the Scott County Recorder ex- cepting therefrom: The Northwest Quarter of the North- west Quarter of Section 8 lying southerly of the southerly right of way of County Road No. 16 . Section 6, Township 115, Range 22, Scott County, Minnesota, and Section 1 and Section 2, Township 115, Range 23, Scott County, Minnesota, excepting therefrom: 1 - 10 Hesse ' s First Addition to Shakopee, Scott County, Minnesota; Hesse ' s Second Addition to Shakopee, Scott County, Minnesota; Scenic Heights 4th Add ' n, Scott County, Minnesota; and that part of Section 6 , Township 115, Range 22, Scott County, Minne- sota, and that part of Section 1 and Section 2, Township 115 , Range 23, Scott County, Minnesota, lying southerly and westerly of the fol- lowing described line: Beginning at the Southeast Corner of Section 6, Township 115 , Range 22, Scott County, Minnesota, thence westerly along the south line of said Section 6 to the westerly right of way of County Road No. 17 to the true point of beginning, thence northerly along said County Road No. 17 right of way to the northeast corner of Lot 2 , Block 2, Furrie ' s 2nd Addition, Scott County, Minne- sota, thence westerly along the southerly right of way of Third Ave- nue to the northwest corner of Lot 1, Block 2 of said Furrie ' s 2nd I Addition, which point bears North 10 Degrees 24 Minutes 14 Seconds West from the Southwest corner of said Lot 1, a distance of 148. 69 feet, thence westerly to the northeast corner of Lot 6, Block 28, East Shakopee, Scott County, Minnesota, thence westerly along the south right of way of Third Street to the northwest corner of Lot 10 , Block 4 , of said East Shakopee, thence west- erly to the northeast corner of Lot 6 , Block 166, Shakopee City, Scott County, Minnesota thence westerly along the southerly right of way of Third Street to the northwest corner of Lot 10 , Block 49 , of said Shakopee City, thence southerly along the easterly right of way of Holmes Street to the northwest cor- ner of Lot 10 , Block 56 of said Shakopee City, thence westerly along the southerly right of way of Fourth Street to the northwest corner of 1 - 11 Court House Square thence southerly along the easterly right of way of Fuller Street to the northwest cor- ner of Lot 10 , Block 73 of said Shakopee City, thence westerly along the southerly right of way of Fifth Street to the northeast corner of Lot 6 , Block 71 , Shakopee City, thence northerly along the westerly right of way of Atwood Street to the northeast corner of Lot 6 , Block 46 of said Shakopee City, thence west- erly along the southerly right of way of Third Street to the northwest corner of Lot 10, Block 174 of said Shakopee City, thence westerly to the northeast corner of Lot 2 , Block One Wiggin ' s First Addition, Scott County, Minnesota, thence westerly along the southerly right of way of Third Avenue to the northwest corner of Lot 1, of said Block One, which point is the northeast corner of Lot 11, Block 4, Koeper ' s Addition, Scott County, Minnesota, thence westerly along the southerly right of way of Third Street to the north- west corner of Lot 12, Block 9, of said Koeper ' s Addition, thence west- erly to the northeast corner of Out Lot "A" , Husman Addition, Scott County, Minnesota, thence westerly along the southerly right of way of 3rd Street to the northwest corner of Out Lot "D" thence southwesterly along the southeast right of way of the C. St . P. M. & 0. Railroad to the west line of Government Lot 7 , Section 2, Township 115, Range 23 , Scott County, Minnesota and there terminating. (AS MODIFIED JUNE 3, 1986) Redevelopment Project No. 1 was expanded June 3, 1986 to include that property located within the City, bounded on the east by the previous boundary of Redevel- opment Project No. 1 , to the south by the proposed U. S. Trunk Highway 101 bypass and on the west and north by the corporate limits of the City. ( SEE EXHIBIT I-D FOR BOUNDARY MAP. ) 1 - 12 Subsection 1 . 6 . Parcels to be Acquired in Whole or in Part Within Housing and Redevelopment Project No. 1 . The following parcels of property will be acquired by the Authority to be included within Housing and Redevelopment Project No. 1 : (AS ORIGINALLY ADOPTED ON JANUARY 2, 1979 ) It is anticipated that it will be necessary to acquire the property in the Redevelopment Project Area immediately upon approval of these plans, and to enter into contracts to provide moneys for this purpose using the land as security for the repayment of such moneys. All new development on land acquired by the Housing and Redevelopment Authority in the Redevelopment Project shall be industrial and/or commercial . It is estimated that the cost of acquiring the property described below, through negotiation or condemnation, will be approxi- mately $1 , 100 , 000 . Lot 1 , Block 1, Valley Park , 3rd Addition, City of Shakopee, Minnesota; and (AS MODIFIED ON FEBRUARY 28, 1984 ) The Northeast Quarter of the Southeast Quarter of Section 5 , Township 115 , Range 22, Scott County, Minnesota excepting therefrom: The West 150 . 00 feet of the north 333. 00 feet of the Northeast Quarter of the Southeast Quarter of Section 5 , Township 115, Range 22 . The South Half of the Southeast Quarter of Section 5 , Township 115, Range 22 , Scott County, Minnesota. The Southwest Quarter of the Southwest Quarter of Section 4 , Township 115 , Range 22 , Scott County, Minnesota. That part of the East Half of the Northeast Quarter of Section 8, Township 115, Range 22 , Scott County, Minnesota, lying northerly of the centerline of County Road No. 16 . The Northwest Quarter of Section 9 , Township 115 , Range 22, Scott County, Minnesota excepting there- from: The south 400 feet of the west 100 feet of the South Half of the Northwest Quarter . 1 - 13 The East Half of the Southwest Quarter of Section 9 , Township 115, Range 22, Scott County, Minnesota, lying northerly of the centerline of County Road No. 16 . (AS MODIFIED MAY 20 , 1986 ) In addition, the Authority intends to acquire such addi- tional parcels of land within Housing and Redevelopment Project No. 1 , as the same may be amended from time to time, as the Authority may determine to be necessary or desirable to assist or implement the Modified Housing and Redevelop- ment Plan. Subsection 1 . 7 . Estimated Public Improvement Costs and Supportive Data. (AS ORIGINALLY ADOPTED FOR K-MART ON JANUARY 2, 1979 ) The estimated costs of the public improvements to be made within the original Valley Industrial Park Redevelop- ment Project No. 1 and financed by tax increments derived from the tax increment district within Valley Industrial Park Redevelopment Project No. 1 are as follows: Estimated costs of Housing and Redevelopment Authority $ 3,650, 000* * Includes capitalized interest Estimated costs of Redevelopment Project to be financed by the private developer 15, 000, 000 Estimated annual debt service 630 , 000 Estimated annual tax increment 700 , 000 Estimated Tax Increment Revenue Bond Issue It is estimated that the City will have to issue tax increment revenue bonds to finance the public rede- velopment cost of the Project of $1,120 , 000 and the costs to be incurred by the City in aid of the Redevel- opment Project of $1, 205, 000 . It is estimated that the bond issue will be in the amount of $3, 650 , 000 in order to provide moneys needed to pay interest on the bonds until tax increments to be derived from the Redevelop- ment Project are available to pay debt service. The cost of the Project to be paid by the City, and of public improvements to be constructed by the City in aid of the Project, and the anticipated proceeds to be received by 1 - 14 the City from the disposition of the property within the Project Area, are estimated to be as follows : Public Redevelopment Cost Land Acquisition $1, 100 , 000 Site Preparation 720 , 000 Site Improvements 400 , 000 $2, 220 , 000 Less: Anticipated Sale Proceeds 11100 , 000 $1, 120 , 000 Costs Incurred in Aid of Project Utilities - water , sewer , etc. $ 700 , 000 Water Storage Tank 1 , 100,000 Municipal Well 250 , 000 Administrative and Planning 25, 000 Fiscal and Legal 30 , 000 $2, 105, 000 (THE FOLLOWING ESTIMATED PUBLIC IMPROVEMENTS FOR THE ELDERLY HIGH RISE WERE ADDED ON OCTOBER 2 , 1979 ) The cost of the redevelopment project to be paid by the HRA, and of public improvements to be constructed by the HRA in aid of the project , and the anticipated proceeds to be received by the City from the disposition of the property within the redevelopment project, are estimated as follows: LAND ACQUISITION $100, 000 WATER MAIN EXTENSION 100 ,000 PEDESTRIAN OVERPASS 110, 000 CAPITALIZED INTEREST 50 , 000 RELOCATION COSTS 5, 000 PAVING COSTS 1, 000 ADMINISTRATIVE & PLANNING COSTS 7 ,000 FISCAL AND LEGAL COSTS 10, 000 DISCOUNT FOR BONDS 6, 000 TOTAL $389 , 000 LESS ANTICIPATED SALE PROCEEDS 20 , 000 NET TOTAL $369, 000 1 - 15 (THE FOLLOWING ESTIMATED PUBLIC IMPROVEMENTS RELATING TO THE DOWNTOWN COMMERCIAL REHAB PROGRAM WERE ADDED ON JUNE 29 , 1982) PUBLIC IMPROVEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70 , 000 MUNICIPAL PARKING FACILITY. . . . . . . . . $50 , 000 GREEN SPACE. . . . . . . . . . . . . . . . . . . . . . . . $20 , 000 COMMERCIAL REHABILITATION LOAN PROGRAM. . . . . . . . . . . . $ 50 , 000 PROFESSIONAL SERVICES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $58, 300 INTEREST ON BONDS PRIOR TO RECEIPT OF TAX INCREMENT - ASSUMES 11 . 50 INTEREST RATE. . . . . . . . . . . $ 46, 287 BOND DISCOUNT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4 , 500 NET BOND ISSUE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $230 , 000 The supportive data for the estimated public improvement costs are as follows : ITEM BASIS FOR ESTIMATE PUBLIC IMPROVEMENTS Estimates by City Staff COMMERCIAL REHABILITATION LOAN PROGRAM Estimates by City Staff PROFESSIONAL SERVICES Estimates of Project costs for administra- tive, consulting ser- vices, planning , legal assistance and bond issuance costs . INTEREST ON BONDS PRIOR TO RECEIPT OF TAX Assumes 11 . 50% interest INCREMENT TO FULLY rate FUND PRINCIPAL AND INTEREST (THE FOLLOWING ESTIMATED PUBLIC IMPROVEMENTS RELATING TO THE RACETRACK WERE ADDED ON FEBRUARY 28 , 1984 ) Earthwork and grading $ 1 , 500 , 000 Roads and parking 2, 025, 000 E. I .S. 125 , 000 Curb and gutter 525, 000 1 - 16 Watermains 537 , 500 Sanitary sewers 317 , 100 Storm sewers 1 , 908 , 200 Tunnel under track 175 , 000 Sidewalk 340 , 000 Site lighting 1 , 105 , 000 Site fencing 220 , 000 Open space amenities 4 , 486 , 000 TOTAL $13 , 263 , 800 It is estimated that additional on-site and off-site public improvements , including administrative costs, capi- talized interest and bond issuance costs to be paid through the Authority will not exceed eleven million dollars . Specific costs relating directly to each type of public improvement is given in the cost subsection of the tax in- crement financing plan for each tax increment district . (THE FOLLOWING ESTIMATED PUBLIC IMPROVEMENTS RELATING TO ` CONTINUATION OF THE DOWNTOWN COMMERCIAL REHAB PROGRAM WERE ADDED ON AUGUST 7 , 1984 ) The listing of public costs for proposed public improve- ments associated with the long range Downtown Redevelopment Plan is attached as Appendix C. Public costs for development in the foreseeable future are as follows : Street-scape Improvements Road, sidewalk including curbs, pavement, landscaping, tree grates and guards, plaza, bus shelters, Kiosks, lighting and parking facilities $750 ,000 Rehabilitation loans Interest rate reduction on commercial rehabilitation loans up to a maximum of $200, 000 to bring existing commercial structures in compliance with Building Code . $250 , 000 Bond issuance is not anticipated for the immediate future. (AS MODIFIED MAY 20 , 1986) Additional public improvement costs to be incurred within Housing and Redevelopment Project No. 1 and to be 1 - 17 financed by tax increments derived from all tax increment districts within Housing and Redevelopment Project No. 1 are estimated to be: Land Acquisition/Site Improvements $ 330, 000 Street Improvements 64 , 000 Bond Issuance, Discount and Legal Expenses 20 , 000 Contingency 10 , 000 Capitalized Interest 76, 000 Total Project Costs $500, 000 Total Bonded Indebtedness $500, 000 (AS MODIFIED JUNE 3, 1986 ) Additional public improvement costs to be incurred within Housing and Redevelopment Project No. 1 and to be financed by tax increments derived from all tax increment districts within Housing and Redevelopment Project No. 1 are outlined below for each respective improvement project : Holmes Street Storm Sewer Construction $ 941, 250 Contingency 94 ,125 Engineering 167, 350 Administrative/Legal 20,700 Issuance Costs 18,999 Bond Discount 22, 043 Total $1 , 264 , 458 Downtown Parkin Construction $ 133, 000 Contingency 13, 300 Engineering 24, 000 Administrative/Legal 2,700 Issuance Costs 2,687 Bond Discount 3,118 Total $ 178,805 Downtown Landscaping Construction $ 33, 000 Contingency 3 , 300 Engineering 6,000 Administrative/Legal 700 Issuance Costs 666 Bond Discount 774 Total $ 44 , 440 1 - 18 Bridge Environmental Assessment Worksheet Engineering $ 158 , 200 Administrative/Legal 5 , 000 Issuance Costs 2 , 532 Bond Discount 2 , 940 Total $ 168, 672 Total Public Improvement Costs $1 , 656 , 375 Less : Reinvestment Income 6 , 375 Total Bonded Indebtedness $1 , 650 , 000 Subsection 1 . 8. Public Improvements and Facilities Within Housing and Redevelopment Project No. 1 . (AS ORIGINALLY ADOPTED ON JANUARY 2, 1979 ) The cost of the Redevelopment Project to be paid by the City, and of public improvements to be constructed by the City in aid of the Project, and the anticipated proceeds to be received by the City from the disposition of the property within the Redevelopment Project , are estimated to be as follows: a . Land Acquisition; b. Site Preparation; C. Site Improvements; d. Utilities - water , sewer , etc. ; e . Water Storage Tank ; f . Municipal Well; g . Administrative and Planning; and h. Fiscal and Legal ; (AS MODIFIED ON JUNE 29 , 1982 ) Publicly financed improvements and facilities may include: a. Acquisition of property; b. Site preparation, including demolition and clearance; C. Installation of public utilities and improve- ments; d. Parking facilities and green spaces ; e. Commercial rehabilitation; and f . Administration including planning and economic development consulting, bond counsel and fis- cal consultants . 1 - 19 It is further contemplated by the City that additional public activities may occur in the future, including the potential establishment of a reserve fund system for in- dustrial development revenue bonds . (AS MODIFIED ON FEBRUARY 28, 1984 ) Included in the type of on-site and off-site public improvements estimated as to cost in subsection 1 . 7 above may be the following: a. land acquisition; b. earthwork and grading; C. site lighting and fencing; d. open space amenities; e. sidewalks; f. curb and gutter ; g . watermains ; h. sanitary and storm sewers; i . roads and parking; j . other eligible site preparation work ; and k . land sale and Environmental Impact Statement . The above is not intended to convey the order in which the above improvements are to be completed or to convey which improvements will ultimately be financed by the Authority or the developer . (AS MODIFIED AUGUST 7, 1984) Included in the types of public improvements being con- sidered for the Continued Downtown commercial rehabilitation program are: a. Interest rate reduction; b. Paving-curb, sidewalk, roads; C. Bus shelters; d. Lighting; e. Parking; and f. Landscaping. Subsection 1 . 9. Environmental Controls . The proposed development in Housing and Redevelopment Project No. 1 does not present significant environmental concerns. All munici- pal actions, public improvements and private development shall be carried out in a manner consistent with existing environmental standards . Subsection 1 . 10 . Proposed Reuse of Property. The pub- lic improvements needed to bring about housing, development and redevelopment activity as set forth in Subsection 1 . 8 above may include acquisition and sale of land, relocation 1 - 20 of existing public improvements, demolition, site improve- ments, rail and street improvements and utility system improvements . The estimated public improvement costs to be financed by tax increment financing are summarized in each of the tax increment financing plans . The Modified Housing and Redevelopment Plan does not contemplate the acquisition of private property until such time as a private developer presents an economically feasi- ble program for the reuse of that property. Proposals for the reuse of private property must be within the framework of the above cited goals and objectives of the Authority and the City. Acquisition and sale of certain private property by the Authority shall be subject to a binding contract with the purchaser incorporating appropriate restrictions regard- ing the reuse and redevelopment of the property. Before approving any such contract or sale, the Authority shall be satisfied that adequate funds will be available to repay the public costs associated with the proposed acquisition. Subsection 1 . 11 . Administration and Maintenance of Housing and Redevelopment Project No 1 . Maintenance and operation of the public improvements in Housing and Redevel- opment Project No. 1 will be the responsibility of the Director of the Authority in and for the City ( the "Admin- istrator" ) . The Administrator will administer Housing and Redevelopment Project No. 1 pursuant to the provisions of the Housing and Redevelopment Act; provided, however, that such powers may only be exercised at the direction of the Authority. These administrative responsibilities are spelled out in Appendix A immediately following this Mod- ified Housing and Redevelopment Plan. No action taken by the Administrator pursuant to the above-mentioned powers shall be effective without authorization by the Authority. Subsection 1 . 12 . Rehabilitation. Owners of properties within Housing and Redevelopment Project No. 1 will be en- couraged to rehabilitate their properties to conform with the applicable state and local codes and ordinances, as well as any design standards. Owners of properties who purchase property within Housing and Redevelopment Project No. 1 from the Authority may be required to rehabilitate their proper- ties as a condition of the sale of the land. The Authority will provide such rehabilitation assistance as may be avail- able from federal , state or local sources . Subsection 1 . 13. Relocation. The Authority accepts its responsibility for providing assistance for relocation ac- tivities pursuant to Section 462 . 531 of the Housing and Redevelopment Act and Sections 117 . 50 to 117 . 56 of the Minnesota Relocation Act . 1 - 21 Subsection 1 . 14 . Redevelopment Obligations . (AS ORIGINALLY ADOPTED ON JANUARY 2 , 1979 ) . The general requirements to be imposed upon the redevel- oper are: a. To redevelop the land within the Project in accordance with this Redevelopment Plan and the Redevel- opment Agreement . b. To submit all construction plans to the Hous- ing and Redevelopment Authority for review and approval . C. To commence and complete the construction of improvements within such reasonable period of time as determined by the Housing and Redevelopment Authority. d . To provide guarantees for the performance of its obligations under the Redevelopment Agreement . e . Not to discriminate on the basis of race, color , creed, sex or national origin in the construction of the facility or in the employment of personnel . f. To devote the land only to the uses permitted by this Redevelopment Plan for a period of twenty ( 20) years from the date of the conveyance by the Housing and Redevelopment Authority. g. To pay promptly when due all real estate taxes and special assessments . h. To take no action which would cause the prop- erty within the Project to become exempt from real es- tate taxation for so long as tax increment revenue bonds are outstanding . i . To comply with all applicable provisions of the Municipal Housing and Redevelopment Act, Minnesota Statutes, Section 462. 411, et seq. (AS OF FEBRUARY 28, 1984, Subsection 1 . 14 ( f) was deleted and the following language substituted therefor) (f) The Authority reserves the right to devote any or all land described in the Housing and Redevelopment Plan to the uses permitted by this Plan and by statute for the period of years appropriate to the parcel ( s) and as authorized by statute. 1 - 22 I-A I 4t� AVE ' V4 D I , to • c c s / Y t1 T a O (EY/bpVe jAr�l , --- � • 1 lOy,l 7 17 • ? 7 / E Y,AO SONTti , 7 1] S / r � --------------------------------- 1 1 w • a u i . I i I I 1 1 i I � 1 I — S ��G ' �� D� 2 ` E4 1i I °�T`°T E �� °`< K MART TAX INCREMENT DISTRICT Z' AR. 1 2 I EES B� II 1 Q0 ( ORIGINAL) —� • CUTLGT G OUTLOT F OUTLOT G r HIBIT I-B I N I � � e < 7 eou ] 3 r, U � / t I t t I ei ul ( I i I 1 I 1 1 1 I I I ' MUM i - - - - - - - - - - I`y'`°' ` K MART TAX I%NCREMENT DISTRICT 7 O �q NUMBER 1 o..TioT G G,TLcT c I ` \� CITY OF SHAKOPEE IIOUSING AND 1cEDEVEL01,P1I;N'1' 1'ROJ.,C _ T;0. S OF Y 2 8 FEBRUAR ,.:::.:.:.::.: .I..•.•..: • ,t'' ; f AG 0-3 ts •��! --:>'-T' ----- \ -�'- - y � -- .�� .,� S - 111[ =•� `, 1/�\JAI• •' � .._ _.-i --- -_- - '�__ •--s- - I J_- � ; � \ ��, I � ,.., N T'• �. 6 CITY OF SHAKOPEE ?LOUSING AND REDEVELOP14ENT PROJECT NO. 1 - Y•..•. AS OF JUNE 3 , 1986 s ti...'.. ..�� •`C!,•'..::::� iz �.. ::�.;,y.: : AG rn .- fT N T. I. 5 SECTION II . REDEVELOPMENT PLAN FOR TAX INCREMENT DISTRICT NO. 1 (K-MART) * Incorporated by reference . * Grandfathered district . Tax Increment Financing Plan not required prior to August 1, 1979 . 2 - 1 SECTION III . TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 2 ( ELDERLY HIGHRISE) (To be incorporated into this document at a later time) . 3 - 1 SECTION IV. TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 3 (DOWNTOWN COMMERCIAL REHAB) Subsection 4 . 1 . Statement of Objectives . See Section I , Subsection 1 . 4 of the Modified Housing and Redevelopment Plan . Subsection 4 . 2 . Modified Housing and Redevelopment Plan. See Section I , Subsection 1 . 2 through 1 . 14 of the Modified Housing and Redevelopment Plan . Subsection 4 . 3 . Parcels to be Included in Tax Increment District No. 3 . The following parcels are located in the City of Shakopee, County of Scott, State of Minnesota: Legal Description Owner Lot 6 , Block 21 Gary Laurent Randolph Laurent Lots 1 , 2 and 3 and the First National Bank West half of the South of Shakopee 102 . 00 feet of Lot 4 , Block 23 The northerly 51 . 00 feet Karen Moonen of Lots 1 and 2 , Block 30 David Moonen Lots 1 , 2 and 3 and the Art Berens & Sons, South 102 . 00 feet of Lot Inc . 4 , Block 22, Original Shakopee Plat Subsection 4 . 4 . Parcels in Acauisition. It is intended that the Authority may publicly acquire the following prop- erty: Legal Description Owner The northerly 51 . 00 feet Karen Moonen of Lots 1 and 2 , Block 30 David Moonen Properties identified for acquisition may be acquired by the Authority in order to accomplish the following : a . Demolition and clearance; and b. Installation of public utilities . 4 - 1 Subsection 4 . 5 . _Development Activity in Minnesota River Valley Housing and Redevelopment Project No. 1 For Which Contracts Have Been Signed. The following contracts have been entered into by the City of Shakopee and the persons named below: [Contracts entered into by the City of Shakopee will be inserted in this Subsection as they are consummated. ) Subsection 4 . 6 . Other Specific Development Expected to Occur Within Minnesota River Valley Housing and Redevelop- ment Project No. 1 . LAs specific development is expected to occur , it will be inserted in this Subsection. ) Subsection 4 . 7 . Estimate Cost of Project . See Subsec- tions 1 .7 and 1 .8 of the Modified Housing and Redevelopment Plan for estimated costs associated with Housing and Rede- velopment Project No. 1 . Subsection 4 . 8 . Estimated Amount of Bonded Indebted- ness . Pursuant to Section 273 . 74 , Subd . 1 , of the Tax In- crement Act , the estimated amount of bonded indebtedness required to amortize the costs identified in Subsections 1 . 7 and 1 . 8 is approximately $230 , 000 . Bond sales will be based on availability of tax increment . Subsection 4 . 9 . Sources of Revenue. Public improvement costs, acquisition and site preparation costs and other costs outlined in Subsections 1 .7 and 1 . 8 will be financed through the issuance of general obligation tax increment bonds to be repaid by the annual collection of tax incre- ments . Subsection 4 . 10 . Estimated Captured Assessed Value . Pursuant to Section 273 . 74 , Subd. 1 , and Section 273 . 76 , Subd. 2 , of the Tax Increment Act , the estimated captured assessed value in Tax Increment District No. 3 as of Janu- ary 2 , 1983 , will each year approximate $293 , 750 . This estimated annual captured assessed value is determined in the following manner : Estimated Assessed Value of 1983 payable 1984 $674 , 805 Original Assessed Value 1981 payable 1982 $381 , 055 Estimated Captured Assessed Value $293 ,750 Subsection 4 . 11 . Type of Tax Increment District . Tax Increment District No. 3 is , pursuant to Minnesota Statutes , Section 273 .73 , Subd. 10 ( 1 ) , a redevelopment district as defined below: 4 - 2 "70 percent of the parcels in the district are occupied by buildings, streets, utilities or other improvements and more than 50 percent of the build- ings , not including outbuildings, are structurally substandard to a degree requiring substantial reno- vation or clearance; " Subsection 4 . 12 . Duration of Tax Increment District No. 3 . Pursuant to Section 273 . 75, Subd . 1 , of the Tax Incre- ment Act , the duration of Tax Increment District No. 3 will be eighteen ( 18) years from the date of receipt by the Authority of the first tax increment or twenty ( 20) years from the creation of Tax Increment District No. 3 . The date of receipt by the Authority of the first tax increment will be July, 1984 . Thus, it is estimated that Tax Increment District No. 3 , including any modifications for subsequent phases or other changes, would terminate in December 2001 . Subsection 4 . 13 . Estimated Impact on Other Taxinq Jurisdictions . The relative impact of forgoing the poten- tial taxes generated by private investment in Tax Increment District No. 3 over the next twenty ( 20 ) years can be evalu- ated by calculating the increase in mill rates needed to generate an equivalent amount of taxes as those potentially generated by new development in Tax Increment District No. 3 . The relative impact of Tax Increment District No. 3 on the taxing jurisdictions in which Tax Increment District No. 3 is located is shown in the following table: Impact on Tax Jurisdictions if Development Occurred Without Public Assistance Tax Increment District No. 3 Mills if Taxing 1981-82 CAV* Dollar Mill Rate Jurisdiction Mills Available Impact Impact City of Shakopee 19 . 145 19 . 081 - . 064 County of Scott 39 . 046 39 . 002 - . 044 School District No. 720 52 . 380 52. 214 - . 166 Other 5 . 594 f Other Taxing jurisdictions include : HRA, Metropolitan Coun- cil , Metropolitan Mosquito Control , Metropolitan Transit Commission, Lower Minnesota Watershed District . * Captured Assessed Value 4 - 3 Subsection 4 . 14 . Modification of Tax Increment District No. 3 and/or Tax Increment Financing Plan. As of June 29 , 1982 , no modifications to Tax Increment District No. lA within Downtown Redevelopment Project No. 1 or the Tax Increment Financing Plan therefor have been made . (As Modified on August 7 , 1984 ) 1 . Tax Increment No. 1A (as originally identified at the time of adoption on June 29 , 1982 ) is hereby modified to meet the legal requirements of Laws 1982, Chapter 523 , an amendment to the Tax Increment Financing Act . 2 . Tax Increment No. lA is hereby further modified to reflect an enlargement of Minnesota River Valley Housing and Redevelopment Project No. 1 and increased project costs of as outlined in Section I , Subsections 1 . 12 and 1 . 5, respec- tively, of the Modified Housing and Redevelopment Plan. 3 . Tax Increment No. lA is hereby redesignated as Tax Increment District No. 3 within Minnesota River Valley Housing and Redevelopment Project No. 1 . (As Modified May 20 , 1986 ) The Tax Increment Financing Plan for Tax Increment Dis- trict No. 3 was modified to reflect revised project costs to be incurred within Housing and Redevelopment Project No. 1 as a result of the amendment of the Modified Housing and Redevelopment Plan. 4 - 4 40 UA kt 1 1 1 1 1 � - .1 I PARK U AEC. ,._ W W II W W I 1 �„ E nul •yi Fi !�. W t -- - '-------- VEl.Y� BLDG. U I I4 n IIU6ERIU I I Id (� h ul r. •.... . r� 1'1 fA 2, 04 {A 1 CI Y I�AI r _ + lilII�Ti DOWNTOWN REDEVEL V - I BOUNDARY PROJECT TAX INCREMENT I- INA . A • OFFIC DISTRICT 10012 - 1 wit TAT" ti rl VALLEY FAIR J zd 166 MAMS �• J • a AMUSEMENT PAlltt n nitTr1. SCHOOL F7, NDUSTRIAL Y 11 PROJECT LOCATION -------__, VALLEY FiWY ►r �Ll lrlr �TT+n PAIIK 1, CENIHALMA11YS TY MAP DOWNTOWN •.,,....... _.� -: .. ....:" �,`, �'/.' ~ `.3.11. 6/ 21 /02 1 4 0 REDEVELOPMENT PROJ - 1 TAX INCREMENT FINANCING j j,• �4� DISTRIr -- 1 0112 — 1 EXHIBIT IV-B T NAME : SHKPE 1 1 S CART LATE : U1/1Y8:' 1 ENI, DATE : 12/2001 LiSTkICT RU . lA CONS : ST : 14G OF THL r1 �;ST HATIUNAL F SHA. .Or'EE/THE LAUF.ENT PROPER I Y/THE MUUNLP PKuP- HE DE-:E;dS PkGi"ERTY . THE E(ONU 1EF.'m 1S 1 ?- 1 /: AT 11 . 5 PERCENT WI fH 18 YEARS Ur RECEIVIHO E;1 T S . C AiijuSTnENT : 100 . 0000 82/00/'23 STI,'gG OF tlA) A !NPUT FUF: BASE !VALUES INj TIAL STAK f END --- INLAEMEF i - N A r E VALUE UA I E 1)A1 E 1 Y FLF., ERENS F'RIDF'ERTY 74; 89 0:/81 1_'/00 5T NATIONAL kA.NK 2/00 OONEN F ROPERTY 1219:' 01/o1. 121/00 AUkE?J.T FKOr'ER i Y . '687:; O1/81 1 './00 82/06/-13 STI►4O OF D�-. t A INPUT FOR YALUES 1 _N1 A AL S F. ; EPID IiJLk_FiLL: - N A In E VA-; UE I1AT: DA1 E TY r Eti tJA_:i_ EREH= PROPERT1 0 U1/8'_' 1'_'/SO 01/-0 12/01 i7 N;7 ! ONAL B-;t4 . 0 01/e'2 1 2/t_ x:.541 % U11E_ 1.'/C'1 T _ riC Tl.:. I L 'rNF177 FOR XF— lN, TIAL SFAk'! EIN•': -uc . N A t E VALUE liA E lLnTL T:r F.6: - -, -- JA- _ r�IC1 _ FA G FACILITY 0 O1/E2 0i/8= 0 1000(.' pS/S2 09/G0 0 KELF:P L" 0 7�!_-._ _ .;� �:,h FRUGF;An 0./�^ 07/8_ LISI ING uF L:, ( A 1 ,NF'UT FuF. F 0►'4I, I :SUES NE,ME OF BOND . SSUt` F ALE P?k?4 F'L MNTHS S ( Ar.T T PA'i! /EXF' . VALUE /INTST MN1 M: /ENv Y PF:OJECT 06/82 1 _. O1 . F . . . . . A . . . . 03/�sl 11 . :; 04/bpi 12/v1 11 . : 82/06/23 LI : i ING OF UAiA IHPUT FUR BOND P' .C)L:EELS INi rIaL N A n E STAT; i EP!j --- I NLREMENI -- VALUE UAfE C+AfE TY PEN VALUE + E F'RU-ECT 0 o=/s2 05/82 230000 06/x2 06/82 0 U//82 12/01 82/06/23 I S i 1 iqG OF Lr t►; I NPLIT FOR OTHER EXPENtiE-c N A n E 1Ni 'tinL STAR1 EHD --- VALUE ,AlLE L+A ( E 17 F'E� +JAi.i+= �vNt+ LI _i:LUNT . 0 01/2'' OS/E- � � ` 4500 06/22 06/0, 0 07/E2 P'r-fir'-IING CONSUL ' ING SEKVIC-S 0 01/d2 : 0000 07/62 0?/2_^ 0 10/2= 1_/r • -2000 06/E2 0E/E`- FSL+(l : r� TE R 0 07/.r-,�' _?!0_ 0 0 0- /56 E2/06/'_'2 c � FUR CiTY MILL F.;.. i-Ec N _ IN1 'I :AL STAR i END --- 5N7 - A r, VALUE c UAIT DA I E 'Y ALLi: : -16 - 16 ,5 B2/Ub/_2 _ , : ;:�' G= Tin f I ;eF': T FUF; I ;.FLit.T I C'N e:/u6/=3 ;1 1NG OF 110; (A IUF,UT FUF. PO;tL ISSUES NAmE OF POND ISSUE FACE F-k;OLF- _ _ _ kEF•AYMLNT- /EXF . VALUE /1t;TST MN1HS SEH.0 /IkM EJECT Y . . , 06/e= 4!l0 . . . . . . . 1 = •01 A . . . . 06/6: 0 10/01 60106/+3 ING OF DA i A IHF'iJT FUF: BODED Ft;:GLt!_US N A M E IHi TIAL cT VALUE ., ART EHL - INLREMENI -- JECT l A I E - 11A I E TY p VALUE 0 O1 /E2 0E/e0 =30000 06/e2 061E0 4 U7/B= 10'/O1 8:/46/03 . HG OF LSTA INPUT FUR OTHER EXP'EN'SES N A E TN 'rlAL S7f; � �►;, VALUE �_�ScN l UNT t1"1 E l+A I-i �'Y ccs. NAL Jr--- 0 COHSL'L r- riL b� 'JIL 0 0�/ 2? r,'/cC e L o of/e=' 06/ : _ God Icc 0 07/E2 09/E: - ,� 0Oi,'c= UC/E- 000 0d/E3, 06/L- G C : /E2 '_ 0U r i� FUF, CITY H . LL RFIE� E IN�'( `'cL Si-i TF;'T _tri --- ? �CF:_rt��,;•- _- UATC LAI - c f Y F't i1,:1LU` . 16 . i6C 0L:C --'/U1 CF ` - F _►. UF: 1"4FL, TO I E I .,h N;, c LI :1tNG OF DATA INPUT FOR INVtSTMENT KATES INITIAL START ENL _ N . A M E � VALUE '— INCREHE�' UA I E IIAUE TY F:R VALUE EF: HAME OF I Tyr. TO DELISTED 11 • SUU O1/�;L1 :'/01 'ER COMMAND 'kIPlI TALL ER START MONTH ► rt✓L NON1H ► INCREMENT r ANNUAL FROJELI, NAME : SHKPEI T • I L-5 i RICT NU . 1F ""IS I INU OF fHE F_F:ST NAT BANK OF :Ho;KOPEE/THE LAUREL! T IUNAL EF:TY/TH_ b'c=:EYS F'F•;OrERT t' , � F'kuF'E>; I 1'/1 HE KUUNEN FROF- YE,�,NS A � 11 . `v PERCENT y,ll THE b0i•lL TEkt! Ic 19- 1 /2 1H 18 YEF,kS OF kLLE1�lING INCRE►SEN �_ . 82/06/23 T 0 T A L I N C O M E 01/198= TO 12/_r,C,, r ! ANNUAL HTERYALS 'EAr: FvVf,Lctrl l'ArUE MILL T � TAX LARD OTHER: BONID — . E EN SALE S INC>>r,_ Pr:UC�:i►� IN�u-- 3E 10"a'.5 116 • 1 6. 0 °E _ 5 /A8Q:J , 0 0 —0000 2 . V_., 1 _ 6 . _ 6,, 4 0 p 954 E7.180S ?E : 0SS i _ 6 1 p. 16.; 0 ` 30i_ °8= t74�OJ 3: 1 OS'J 1 : 5 • I6� n12� 0 0 -? FES 7^80., E 0JJ 4 6 / :, l I5 4 . 16S 341"'= RS? 57480; Cl 151 �L 0 0 0 ` • •I _ = E c7^80S _ E : OSS 11 .5 �� ., 0 0 04 C °C`' 57;8 `' c • :,; : -3 0 0 0 C. ^ 0 0�J 1 _E . I6� s� 12 _ ec c 74805 E i OS_ , , 5 . 155 ,:41=< 0 0 • - CC 's 6iA _V_ 1_ � • 16� _<< y ✓ r O J _•C _ U_J 1 - •7 • 1 �.�.! Gln • , ^ O oc5 674bOJ ..��= OSS '_ 1 >✓ . 16J `; _ _ ,✓ 0 0 1 LSC , b7480;J =2 _ 0rJ 116 • IS.. sJ1� 0 0 0 � ?9c 67430 32i0SS 3A 11G . 16S 2- 0 0 4 _:�.`•: _ 0 >�7 57480E �E 10J5 116 . 15 J 3112, 0 =S8 675805 3814SS 1 '_ 5 . 165 351_'3 0 '1 � L 57 ;80:) 0 II6 . 16;, ,54123 0 � 30U 67� 80S ?I:: OSS 1 i6 . icS 3.4 0 _,3 0 7C '_ 574801 -s° : U`JJ 1I6 . 1t5 ,<, 123 0 0 =4C � cPR4 NAHE : 5•HKF•E1 T . I . F . TIIc7F. : CT NU . =F �' 1cT tiJ L:JN _ Ire QFc THE F:KsT NATI BANK Or c�,: ".uF'E=/T'r'y L <�1rG cu- r•t`•r,rlr . _ C14AL T O T A L E X P E N D I T U R E S FROM 01/ 198= TO 10/2001 IN ANNUAL 1N1 ERVALS CAPITAL OTHER --0 L 0 L E B T-- I'D iAL EXPENSES EXPENSES PRIK;DIAL IH1EF.LS i EY.FENSES �= 120000 .17200 0 0 167_,00 ? 0 1200 0 0 1200 �4 0 1200 0 0 1:200 B 0 1''00 0 0 1200 36 0 1200 0 0 1200 7 0 1200 0 0 1200 35 0 1,100 0 0 12100 0 1''00 0 0 1200 =0 0 1200 0 0 1200 " 1 0 1200 0 0 1200 ==' 0 1204 =3 0 1240 4 4 1200 0 0 :2'00 0 1200 ^ 0 1204 0 i-,00 4 0 1_'04 c 0 0 0 4 0 7 0 0 0 0 :8 0 0 0 0 >0 0 4 0 0 0 0 0 0 0 0 0 4 0 4 0 0 0 0 FRJJE_ I hnME ; SHKFE_ T . I . Q . tC? lTFl-_ :T CDQF Th= F_� _ NF— T c. T Gr BANN r: c-.at.J='E=/TSE L;,Ur:.N. F'..'ZcCfiTY r,LJ f'F:OF THE BUHL' INC,L:,=:a 7 . T 0 T A L P E S E F V E FROh V1 / 1982 TO 10/2001 IN ANNUAL IH'IEF:VALS ' T 0 1 A L TOTAL --N E w L E F 1 -- TOTAL TOTAL LLAST YEAR INCOME EXPENSES F•P1HCIPAL INTEREST SUF:FLUS RE,SE=:VE F;= SEr: .': 1982 237500 167200 0 661 = 63688 1983 16139 1200 0 ''6�:,U -''1510 �1=:77 4Uri : 9E� ,a -0 1200 7620 0b450 --731 . SES .$8045 1200 8 0 5 a 'JJ / J 3013 44659 2,1"a0E 961 38472 1200 8521 2°647 4103 X16762 E7 3900 Ift 1200 y011 :'.5667 5129 It:3E92 37290 1988 39670 1200 9529 22630 6309 60202 4-?7_ '19E9 40476 1200 10077 L'1534 766? 6/e-6 :,0754 1990 41443 1200 1065% 20375 9'_'15 7708. 596''8 199 . 1250E 1200 11 :69 19150 10988 88070 70"_po .99. 43985 1200 : 1917 17854 13013 1010? 82:f0 _ ?9= 60E :200 : '_'603 16423 153'_'_ 116=C59)�y' _994 x7512 1200 133:7 150;sA 17950 134350 114:"lb 995 X597.6 1200 1 ;094 13501 20910 15�2�d ' 26 _ 991 52376 0 14904 : 1880 25590 180EE:� 6 0 15761 10166 20= ., .�-, occ < .�y., 10 .;915 0 16667 835= 34135 2446_7 °O5 63340 ' G 17626 6.337392'I6 _6,619: ''4,:7S4 :000 6611,6 0 18639 4-; 0 45096 32259p .GC : 7355 0 19710 :St30dcC 7 PRO ECT I • F . I': S I`. : LT ;4 C) -r CC".1STS QF -HC • c .r. I NAT: 0i1r.L bA OF Sr'-!�0r Ec!;H LAUlRE:N7 F'F;L'FEF,TY/1 WEML;L1fiET! PROF - EnTY/ T'..ic SE=:EN F'F.CP=':TY . TH_ D'2iiii TcF:�; tc 11_ 1 /2 YE,;F:S A' F':F:C_^!' W _ T _ : YEnF:S Or c V. n� B2/06/23 S U M M A k y INCREMENT 200 . 0040 ISSUE PROCEEDS .,- �ALE INCOME - 0000 INCOME 0 INCREMENT 0 3TMENT INCOME 610810 279608 TOTAL INCOME 1116950 AL EXPENSES 1 ,$0000 EXFENSE- �PT LIZED 62800 INTEREST 2" 07 _ CE .UE UtPT St; UICE 0 TO 1 AL Er.PL�.1,17uPES L'2 0 E 7 . NAME OF X071 y-i KALANCE OF F:_FOF; � WANTED 8372 SECTION V. TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 4 (RACETRACK) Subsection 5 . 1 . Statement of Objectives . See Section I , Subsection 1 . 4 of the Modified Housing and Redevelopment Plan. Subsection 5. 2 . Modified Housing and Redevelopment Plan. See Section I , Subsection 1 . 2 through 1 . 14 of the Modified Housing and Redevelopment Plan. Subsection 5 . 3 . Parcels to be Included in Tax Increment District No. 4 . The following parcel located in the City of Shakopee, County of Scott , State of Minnesota : The Northeast Quarter of the Southeast Quarter of Section 5 , Township 115, Range 22, Scott County, Minnesota, excepting therefrom: The West 150 . 00 feet of the North 333 . 00 feet of the Northeast Quarter of the Southeast Quarter of Section 5 , Township 115, Range 22 . The South Half of the Southeast Quarter of Section 5, Township 115, Range 22, Scott County, Minnesota. The Southwest Quarter of the Southwest Quarter of Section 4 , Township 115, Range 22, Scott County, Minnesota. That part of the East Half of the Northeast Quarter of Section 8, Township 115, Range 22 , Scott County, Minnesota, lying northerly of the centerline of County Road No. 16 . FURTHER INFORMATION REGARDING THE IDENTIFICATION OF THE PARCEL TO BE INCLUDED IN TAX INCREMENT DISTRICT NO. 4 CAN BE OBTAINED FROM THE OFFICE OF THE CITY ADMINISTRATOR. Subsection 5 . 4 . Parcels in Acquisition. The Authority acquired and reconveyed the parcels identified in Section I, Subsection 1 . 6 as originally adopted on January 2 , 1979 and will acquire the parcels identified in Section I , Subsection 1 .6 as modified on February 28, 1984 . As the Authority acquires said parcels , the Tax Increment Financing Plan for Tax Increment District No. 4 will be modified to reflect the acquisitions of said parcels . 5 - 1 The following are conditions under which properties not designated to be acquired may be acquired at a future date: ( 1 ) The Authority may acquire property by gift , dedica- tion, condemnation or direct purchase from willing sellers in order to achieve the objectives of the tax increment financing plan; and ( 2 ) Such acquisitions will be undertaken only when there is assurance of funding to finance the acqui- sition and related costs . Subsection 5 . 5 . Development Activity in Housing and Redevelopment Project No. 1 For Which Contracts Have Been Signed . The following contracts have been entered into by the City of Shakopee and the persons named below: [Contracts entered into by the City of Shakopee or the Authority will be inserted in this Subsection as they are consummated. ] Subsection 5 . 6 . Other Specific Development Expected to Occur Within Housing and Redevelopment Project No. 1 . [As specific development is expected to occur , it will be in- serted in this Subsection. ) Subsection 5 .7 . Estimate Cost of Project . See Section I , Subsection 1 .7 of the Modified Housing and Redevelopment Plan. Subsection 5 . 8 . Bonded Indebtedness to be Incurred. It is anticipated that $7 , 250 , 000 of bond indebtedness will be incurred with respect to Housing and Redevelopment Project No. 1 . Subsection 5 . 9 . Sources of Revenue . It is anticipated that the major source of revenue will be provided through the issuance of general obligation tax increment bonds as well as through special assessment bonds . Subsection 5 . 10 . Estimated Captured Assessed Value and Estimate of Tax Increment . The most recent assessed value ( the original assessed value) of Tax Increment District No. 4 is estimated to be $97 , 660 . The estimated captured assessed value of Tax Increment District No. 4 at completion is estimated to be $14 , 902 , 340 . Tax increment has been calculated at approximately $1, 268, 920 annually commencing in 1987 . 5 - 2 Subsection 5 . 11 . Type of Tax Increment District . Tax Increment District No. 4 is, pursuant to Section 273 . 73 , Subd. 12, an economic district as defined below: " . . .a type of tax increment financing district which consists of any project , or portions of a project , not meeting the requirements found in the definition of redevelopment district or housing district , but which the authority finds to be in the public interest because: (a) It will discourage commerce, in- dustry or manufacturing from moving their operations to another state; or (b) It will result in increased employ- ment in the municipality; or ( c) It will result in preservation and enhancement of the tax base of the munici- pality. " Subsection 5 . 12 . Duration of Tax Increment District No. 4 . The duration of Tax Increment District No. 4 is expected to be eight ( 8 ) years from the receipt of the first tax increment . The City will forego any tax increments accruing in 1986 and will receive its first full tax increment in 1987 . Subsection 5 . 13 . Estimated Impact on Other Taxing Jur- isdictions . The estimated impact of Tax Increment District No. 4 on the other taxing jurisdictions within which Tax Increment District No. 4 is set forth in the following table : IMPACT ON TAX BASE Original District Future District Assessed % of Assessed % of Entity Tax Base Value Entity Value Entity Scott County $293,671,922 $97,660 .033% $15,000,000 5.108% I.S.D. #720 101,425,043 97,660 .096 15,000,000 14.789 Shakopee 96,443,444 97,660 .101 15,000,000 15.553 5 - 3 IMPACT ON MILL RATES Current Potential Entity Mill Rate Taxes Scott County 33 . 004 $495, 060 I . S.D. #720 55 . 630 834 , 450 Shakopee 10 . 471 157, 065 Other ( 1 ) 4 . 493 67 , 395 ( 1 ) Other taxing entities include the HRA, Metropolitan Mosquito Control District, Lower Minnesota Watershed District , Metropolitan Council, Metropolitan Transit Commission. Subsection 5 . 14 . Modification of Tax Increment District No. 4 and/or Tax Increment Financing Plan. As of February 28, 1984 , no modifications to Tax Increment District No. 4 or the Tax Increment Financing Plan therefor have been made . As of June 3, 1986 the Tax Increment Financing Plan for Tax Increment District No. 4 was modified to reflect expan- sion of the project area of Housing and Redevelopment Project No. 1 and all increased project costs, as well as to administratively incorporate the Tax Increment Financing Plan into this document . 5 - 4 EXHIBIT V - A T.H. �- 169 / 101 �. � .rte- -;-. � � . ._... __. _. _ -`... -- --- ��� ,. r-• __` 0_': AA .__ � 1 ; ; � . til -�•] ,f,\ �-� � ^•11 .Y ii r "' c -R j r F .�• ' _ \ TAX INCREMENT DISTRICT NO . 4 SECTION VI . TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 5 (DOWNTOWN COMMERCIAL REHAB CONTINUED) Subsection 6 . 1 . Statement of Objectives . See Section I , Subsection 1 . 4 of the Modified Housing and Redevelopment Plan. Subsection 6 . 2 . Modified Housing and Redevelopment Plan . See Section I , Subsection 1 . 2 through 1 . 14 of the Modified Housing and Redevelopment Plan. Subsection 6 . 3 . Parcels to be Included in Tax Increment District No. 5 . The following parcels are located in the City of Shakopee, County of Scott, State of Minnesota : The East 6 feet of the South 90 feet and the West 34 . 5 feet of the East 40 . 5 feet of the South 42 feet of Lot 4 and the South 90 feet of Lot 5 , Block 63 , City of Shakopee plat . Subsection 6 . 4 . Parcels in Acquisition. It is not anticipated that the Authority will acquire property at this time . As property is publicly acquired it shall be listed below. Properties identified for acquisition may be acquired by the Authority in order to accomplish the following : a. Demolition and clearance; and b. Installation of public utilities . Subsection 6 . 5 . Development Activity in Minnesota River Valley Housing and Redevelopment Project No. 1 For Which Contracts Have Been Signed. The following contracts have been entered into by the City of Shakopee and the persons named below: [Contracts entered into by the City of Shakopee will be inserted in this Subsection as they are consummated. ] Subsection 6 .6 . Other Specific Development Expected to Occur Within Minnesota River Valley Housing and Redevelop- ment Project No. 1 . [As specific development is expected to occur , it will be inserted in this Subsection. ] 6 - 1 Subsection 6 . 7 . Estimate Cost of Project . See Subsec- tions 1 .7 and 1 . 8 of the Modified Housing and Redevelopment Plan for estimated costs associated with Housing and Rede- velopment Project No. 1 . Subsection 6 . 8. Estimated Amount of Bonded Indebted- ness . Pursuant to Section 273 . 74, Subd. 1 the Tax Increment Financing Act requires that the estimated amount of bonded indebtedness required to amortize the costs be identified. At this time a bond sale is not contemplated. Subsection 6 . 9 . Sources of Revenue . Public improvement costs, acquisition and site preparation costs and other costs outlined in Subsections 1 . 7 and 1 . 8 will be financed through the annual collection of tax increments , various grants including Minnesota Department of Transportation Small Cities Development Grant , Economic Development Grant and Park Grants, and the use of special assessments . Subsection 6 . 10 . Estimated Captured Assessed Value . Pursuant to Section 273 . 74 , Subd. 1 , and Section 273 . 76 , Subd. 2 , of the Tax Increment Act , the estimated captured assessed value in Tax Increment District No. 5 as of Janu- ary 2 , 1984 , will each year approximate $14 , 835 . This esti- mated annual captured assessed value is determined in the following manner : Estimated Assessed Value of 1983 payable 1984 $33 , 024 Original Assessed Value 1981 payable 1982 $18 , 189 Estimated Captured Assessed Value $14 ,835 Subsection 6 . 11 . Type of Tax Increment District . Tax Increment District No. 5 is , pursuant to Minnesota Statutes, Section 273 . 73, Subd. 10 ( 1 ) , a redevelopment district as defined below: "70 percent of the parcels in the district are occupied by buildings , streets , utilities or other improvements and more than 50 percent of the build- ings, not including outbuildings , are structurally substandard to a degree requiring substantial reno- vation or clearance; " Subsection 6 . 12 . Duration of Tax Increment District No. 5 . Pursuant to Section 273 . 75 , Subd. 1 , of the Tax Incre- ment Act, the duration of Tax Increment District No. 5 will be twenty-three ( 23) years from the date of receipt by the Authority of the first tax increment or twenty-five ( 25 ) years from the creation of Tax Increment District No. 5 . The date of receipt by the Authority of the first tax incre- ment will be July, 1986 . Thus , it is estimated that Tax Increment District No. 5 , including any modifications for subsequent phases or other changes , would terminate in December 2009 . Subsection 6 . 13 . Estimated Impact on Other Taxing Jur- isdictions . The relative impact of forgoing the potential taxes generated by private investment in Tax Increment Dis- trict No. 5 over the next twenty-five ( 25 ) years can be evaluated by calculating the increase in mill rates needed to generate an equivalent amount of taxes as those poten- tially generated by new development in Tax Increment Dis- trict No. 5 . The relative impact of Tax Increment District No. 5 on the taxing jurisdictions in which Tax Increment District No. 5 is located is shown in the following table : Impact on Tax Jurisdictions if Development Occurred Without Public Assistance Tax Increment District No. 5 Mills if Taxing 1983-84 CAV* Dollar Mill Rate Jurisdiction Mills Available Impact Impact City of Shakopee 17 . 453 17 . 450 - . 003 County of Scott 33. 004 33 . 002 - . 002 School District No. 720 55. 630 55 .622 - . 008 Other 4 . 493 Other Taxing jurisdictions include: HRA, Metropolitan Coun- cil, Metropolitan Mosquito Control, Metropolitan Transit Commission , Lower Minnesota Watershed District . * Captured Assessed Value Subsection 6 . 14 . Modification of Tax Increment District No. 5 and/or Tax Increment Financing Plan. As of August 7 , 1984 , no modifications to Tax Increment District No. 5 or the Tax Increment Financing Plan therefor have been made . As of May 20 , 1986 , the Tax Increment Financing Plan for Tax Increment District No. 5 was modified to reflect revised project costs to be incurred within Housing and Redevel- opment Project No. 1 as a result of the amendment of the Modified Housing and Redevelopment Plan. 6 - 3 ;JGki i IJ I I . I I I 0 > .._. Block 3 Shakopde cityFr b o .J I I J I I I I I First Avenue "73IIlnneaota River Valley ' t ouslnfl and Redevelopment Project Nu. 1. S.H. 6/213/84 1'a 60' �— Tax Increment District No. 6. 1 SECTION VII . TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT DISTRICT NO. 6 ( SHAKOPEE VALLEY MOTEL) Subsection 7 . 1 . Statement of Objectives . See Section I , Subsection 1 . 4 of the Modified Housing and Redevelopment Plan. Subsection 7 . 2 . Modified Housing and Redevelopment Plan. See Section I , Subsection 1 . 2 through 1 . 14 of the Modified Housing and Redevelopment Plan . Subsection 7 . 3 . Parcels to be Included in Tax Increment District No. 6 . A map showing the boundaries of Tax Incre- ment District No. 6 is attached to this Financing Plan as Exhibit VII-A, and the parcels constituting said District are legally described in the attached Exhibit VII-B. Subsection 7 . 4 . Parcels in Acquisition. The Authority intends to acquire parcels within Tax Increment District No. 6 at the time or times as the Authority may determine to be necessary or desirable to assist or implement development within Tax Increment District No. 6 . Subsection 7 . 5 . Development Activity in Minnesota River Valley Housing and Redevelopment Project No. 1 For Which Contracts Have Been Signed. The Authority intends to enter into suitable development and assessment agreements with de- velopers for the development of Housing and Redevelopment Project No. 1 , including Tax Increment District No. 6 , pur- suant to the Modified Housing and Redevelopment Plan. Subsection 7 . 6 . Other Specific Development Expected to Occur Within Minnesota River Valley Housing and Redevelop- ment Project No. 1 . Based on preliminary discussions with developers , the Authority, as of the date of adoption of this Financing Plan, reasonably expects that expansion of a motel facility and construction of a restaurant facility adjacent thereto and a campground and recreational facility will occur within Housing and Redevelopment Project No. 1 . Subsection 7 . 7 . Estimated Cost of Project . See Subsec- tions 1. 7 and 1 . 8 of the Modified Housing and Redevelopment Plan for estimated costs associated with Housing and Rede- velopment Project No. 1. Subsection 7 . 8 . Estimated Amount of Bonded Indebted- ness . Pursuant to Section 273 .74 , Subd. 1 , of the Tax In- crement Financing Act, general obligation or revenue tax 7 - 1 increment bonds may be used as required to amortize the costs identified in Section I , Subsections 1 . 7 and 1 . 8 of the Modified Housing and Redevelopment Plan . Bond sales will be based on availability of tax increment . Bonds will not be issued at one time but as needed . Subsection 7. 9 . Sources of Revenue . Public improvement costs, acquisition and site preparation costs and other costs outlined in Subsections 1 . 7 and 1 . 8 will be financed through the annual collection of tax increments , various grants including Minnesota Department of Transportation Small Cities Development Grant , Economic Development Grant and Park Grants, and the use of special assessments . Subsection 7 . 10 . Estimated Captured Assessed Value . Pursuant to Section 273 .74 , Subd. 1 , and Section 273 . 76 , Subd . 2 , of the Tax Increment Act, the estimated captured assessed value in Tax Increment District No. 6 when all development contemplated is completed will approximate $524 , 393 . This estimated annual captured assessed value is determined in the following manner : Estimated Assessed Value at completion $897 , 999 Original Assessed Value 1985 payable 1986 $373 , 606 Estimated Captured Assessed Value $524 , 393 Subsection 7 . 11 . Type of Tax Increment District . Tax Increment District No. 6 is, pursuant to Minnesota Statutes , Section 273 .73, Subd. 10 (a) ( 3) , a redevelopment district as defined below: "Less than 70 percent of the parcels in the district are occupied by buildings , streets, utilities or other improvements , but due to unusual terrain or soil deficiencies requiring substantial filling, grading or other physical preparation for use at least 80 percent of the total acreage of such land has a fair market value upon inclusion in the redevelopment district which, when added to the estimated cost of preparing that land for development, excluding costs directly related to roads as defined in section 160 . 01 and local improve- ments as described in section 429 . 021 , sub- division 1, clauses 1 to 7 , 11 and 12, and section 430 . 01, if any, exceeds its antici- pated fair market value after completion of said preparation; provided that no parcel shall be included within a redevelopment dis- trict pursuant to this paragraph ( 3) unless 7 - 2 the authority has concluded an agreement or agreements for the development of at least 50 percent of the acreage having the unusual soil or terrain deficiencies , which agreement provides recourse for the authority should the development not be completed; " and as a redevelopment district is subject to the limita- tions of Sections 9 . 8 and 9 . 12 hereof . Subsection 7 . 12 . Duration of Tax Increment District No. 6 . Pursuant to Section 273 . 75, Subd. 1 , of the Tax Incre- ment Act , the duration of Tax Increment District No. 6 will be twenty-five ( 25) years from the date of receipt by the Authority of the first tax increment . Since the date of re- ceipt by the Authority of the first tax increment is antici- pated to occur in 1988, it is estimated that Tax Increment District No. 6, including any modifications for subsequent phases or other changes , would terminate in December 2013 . Subsection 7 . 13 . Estimated Impact on Other Taxing Jur- isdictions . The impact of Tax Increment Financing District No. 6 on the affected taxing jurisdictions is reflected in the Authority ' s anticipated need to utilize the tax incre- ments generated thereby during the period described in Sub- section 7 . 12 above for the purposes of financing public re- development costs identified in the Modified Housing and Redevelopment Plan, following which period the increased assessed valuations will innure to the benefit of such tax- ing jurisdictions. Subsection 7 . 14 . Modification of Tax Increment District No. 6 and/or Tax Increment Financing Plan. As of May 20 , 1986 , no modifications to Tax Increment District No. 6 or the Tax Increment Financing Plan therefor were made , said date being the date of original adoption thereof . 7 - 3 f � �Y" ff��Y{ • �., }� J ; ',1111 � ; \� �� `\ � y"� u 11 Ilii- �� C i 11Vi 1,11 '1 ',l ,11 1,1 � •\ 1 c ir1 Y _ !1 (, IT �� I' o• _ 1 - -�— 1 N J m ,\ c_rnc �� < -X o n GO MA z -- �o w _ OG � N 1—_•-- nn�� 1� 1 N A �" I MARS NALL� ROA N ) N ,.•\� I W v � OGS OA Sl !• NEE TRAIL � EXHIBIT VII-B Legal Description (Tax Increment District No. 6) Lot 1, Block 1 , Halo Second Addition, according to the recorded plat thereof, Scott County, Minnesota. That part of Lots 2 and 3 , Block 1, Halo Second Addition, according to the recorded plat thereof, Scott County, Minne- sota described as follows : Beginning at the northwest corner of said Lot 2 ; thence northeasterly along the northerly line of said Lot 2 and 3 a distance of 198 . 00 feet; thence southeasterly parallel with the easterly line of said Lot 2 to the southerly line of said Lot 3 ; thence southwesterly along said southerly line a distance of 150 . 00 feet ; thence deflecting at an angle of 48 degrees 54 minutes to the right to the westerly line of said Lot 2; thence northerly along said westerly line to the point of beginning. That part of Lot 3, Block 1 , Halo Second Addition, according to the recorded plat thereof, Scott County, Minnesota, lying easterly of the following described line : Commencing at the southeast corner of said Lot 3 ; thence southwesterly along the southerly line of said Lot 3 a distance of 150 . 00 feet to the point of beginning of the line to be described; thence northwesterly at right angles a distance of 150 . 00 feet to the northerly line of said Lot 3 and there terminating . That part of Lot 2, Block 1 , Halo Second Addition, according to the recorded plat thereof, Scott County, Minnesota, lying southwesterly of the following described line : Commencing at the southeast corner of said Lot 2 ; thence southwesterly along the southerly line of said Lot 2 a distance of 126 . 00 feet to the point of beginning of the line to be described; thence deflecting at an angle of 48 degrees 54 minutes to the right to the westerly line of said Lot 2 and there terminating . Lot 4, Block 1 , Halo Second Addition, according to the recorded plat thereof, Scott County, Minnesota. Together with that part of Government Lots 4 and 5, Section 6 , Township 115, Range 22, Scott County, Minnesota, described as follows: VII-B-1 Beginning at the northeast corner of Lot 4 , Block 1 , Halo Second Addition, according to the recorded plat thereof, Scott County, Minnesota; thence southeasterly along the easterly line of said Lot 4 to a point 310 . 00 feet north- westerly of the north right of way line of First Street and parallel with Naumkaeg Street ; thence North 79 degrees 17 minutes 51 seconds East parallel with said First Street to a line 73 . 00 feet westerly of and parallel with the east line of said Government Lot 5; thence North 0 degrees 10 minutes 51 seconds East parallel with said east line a distance of 63 . 30 feet ; thence North 71 degrees 57 minutes 51 seconds East to the east line of said Government Lot 5 ; thence North 0 degrees 10 minutes 51 seconds East along said east line to the waters edge of the Minnesota River ; thence westerly along said waters edge to the intersection with a line described as follows : Commencing at a point on the east line of previously men- tioned Naumkaeg Street 889 . 00 feet northerly of the south- west corner of Block 31 , East Shakopee, Minnesota, according to the recorded plat thereof ; thence North 79 degrees 17 minutes 51 seconds East, parallel with the previously men- tioned First Street 601 . 20 feet to the point of beginning of the line to be described; thence North 11 degrees 03 minutes 07 seconds West, parallel with said Naumkaeg Street to the waters edge of said Minnesota River and there terminating . Thence South 11 degrees 03 minutes 07 seconds East along the last described line to the point of beginning of said line; thence South 51 degrees 41 minutes 07 seconds East to the intersection with a line 100 . 00 feet westerly of and parallel with the east line of said Government Lot 4 ; thence South 0 degrees 04 minutes 06 seconds West along said parallel line to the northwest corner of Halo First Addi- tion, according to the recorded plat thereof; thence South 68 degrees 20 minutes 48 seconds East along the north- easterly line of said Halo First Addition to the inter- section with a line described as follows : Commencing at the northeast corner of said Lot 4 , Block 1 , Halo Second Addition; thence South 79 degrees 17 minutes 51 seconds West along the northerly line of said Lot 4 a distance of 366 . 35 feet; thence North 9 degrees 36 minutes 05 seconds West a distance of 241 . 75 feet; thence South 81 degrees 45 minutes 03 seconds West a distance of 365 . 00 feet to the point of beginning of the line to be described; thence South56 degrees 35 minutes 19 seconds West to the northeasterly line of said Halo First Addition and there terminating. VII-B-2 Thence North56 degrees 35 minutes 19 seconds East along the last described line to the point of beginning of said line; thence North 81 degrees 45 minutes 03 seconds East a distance of 365 . 00 feet; thence South 9 degrees 36 minutes 05 seconds East to the northerly line of said Lot 4 , Block 1 , Halo Second Addition; thence easterly along said northerly line to the point of beginning . Together with that part of Outlot A, Halo First Addition, according to the recorded plat thereof, Scott County, Minne- sota, lying easterly of the following described line : Commencing at the east corner of said Outlot A; thence westerly along the southerly line of said Outlot A a distance of 66 . 00 feet to the point of beginning of the line to be described; thence northwesterly to a point on the northeasterly line of said Outlot A lying 120 feet (as measured along the northeasterly line of said Outlot A) northwesterly of the east corner of said Outlot A. Commencing at the northeast corner of Lot 4, Block 1 , Halo Second Addition, according to the recorded plat thereof, Scott County, Minnesota; thence southwesterly along the northerly line of said Lot 4 a distance of 366 . 35 feet to the point of beginning of the land to be described; thence North 9 degrees 36 minutes 05 seconds West a distance of 241 .75 feet ; thence South 81 degrees 45 minutes 03 seconds West a distance of 365 .00 feet; thence South56 degrees 35 minutes 19 seconds West to the northeasterly line of Outlot A, Halo First Addition according to the recorded plat thereof, Scott County, Minnesota; thence southeasterly along said northeasterly line to the east corner of said Outlot A; thence northeasterly along the northerly line of said Lot 4 to the point of beginning. Except that part of said Government Lot 5 , described as follows: Commencing at the northeast corner of said Lot 4, Block 1, Halo Second Addition; thence southwesterly along the northerly line of said Lot 4 a distance of 421 .40 feet to the point of beginning of the land to be descrir.�!d; thence North 10 degrees 39 minutes 24 seconds West a distance of 189 . 87 feet; thence South 79 degrees 17 minutes 35 seconds West a distance of 117 . 28 feet; thence South 10 degrees 33 minutes 02 seconds East a distance of 177 . 60 feet ; thence South 18 degrees 56 minutes 02 seconds West to the northerly line of said Lot 4 ; thence northeasterly along said northerly line to the point of beginning . VII-B-3 APPENDIX A ADMINISTRATIVE GUIDE FOR THE ADMINISTRATION OF THE MODIFIED HOUSING AND REDEVELOPMENT PLAN FOR HOUSING AND REDEVELOPMENT PROJECT NO. 1 The Authority has , pursuant to Section I , Subsection 1 . 11 of the Modified Housing and Redevelopment Plan, desig- nated the Director of the Authority in and for the City to serve as Administrator of the Modified Housing and Redevel- opment Plan for Housing and Redevelopment Project No. 1 as authorized by 5462 . 445 , Subd. 1 ( 2) of the Housing and Rede- velopment Act to supervise the maintenance and operation of public improvements and activities financed by the Tax In- crement Districts within Housing and Redevelopment Project No. 1 . ADMINISTRATIVE POWERS The Administrator will administer the Modified Housing and Redevelopment Plan pursuant to the provisions of Sec- tions 462 . 411 through 462 . 716 , inclusive, as amended, of the Housing and Redevelopment Act . Subject to the authorization and approval of the Board of Commissioners , the Administra- tor shall administer , pursuant to §462 . 445, subd. 1 , ( 1 ) through ( 9 ) , the following powers of the Authority: ( 1 ) To sue and be sued; to have a seal , which shall be judicially noticed, and to alter the same at pleasure; to have perpetual succession; and to make, and from time to time amend and repeal , rules and regula- tions not inconsistent with these sections ; ( 2 ) To employ an executive director , technical experts, and such officers, agents and employees , perma- nent and temporary, as it may require, and determine their qualifications , duties, and compensation; for such legal services as it may require, to call upon the chief law officer of the municipality or to employ its own counsel and legal staff; so far as practicable, to use the services of local public bodies , in its area of operation, such local public bodies , if requested, to make such services available; ( 3) To delegate to one or more of its agents or employees such powers or duties as it may deem proper ; ( 4 ) Within its area of operation to undertake, prepare, carry out , and operate projects and to provide A - 1 for the construction, reconstruction, improvement , ex- tension, alteration, or repair of any project or part thereof ; ( 5 ) Subject to the provisions of section 462 . 511 , to give, sell , transfer , convey or otherwise dispose of real or personal property or any interest therein and to execute such leases, deeds, conveyances, negotiable instruments, purchase agreements, and other contracts or instruments, and take such action, as may be necessary or convenient to carry out the purposes of these sec- tions; ( 6 ) Within its area of operation to acquire real or personal property or any interest therein by gifts, grant , purchase , exchange, lease, transfer , bequest , devise , or otherwise, and by the exercise of the power of eminent domain in the manner or otherwise, and by the exercise of the power of eminent domain, in the manner provided by Minnesota Statutes 1945 , Chapter 117 , and any amendments thereof or supplements thereto, to ac- quire real property which it may deem necessary for its purposes under these sections, after the adoption by it of a resolution declaring that the acquisition of the real property is necessary to eliminate one or more of the conditions found to exist in the resolution adopted pursuant to section 462 . 425 or found to exist by section 462. 425, subdivision 5, or is necessary to carry out a redevelopment project as defined in section 462. 321 , subdivision 13 ; (7 ) Within its area of operation, and without the adoption of an urban renewal plan, to acquire, by all means as set forth in clause ( 6) of this subdivision, including by the exercise of the power of eminent do- main, in the manner provided by chapter 117 , and without the adoption of a resolution provided for in subdivision 1, clause ( 6 ) , real property, and to demolish, remove, rehabilitate or reconstruct the buildings and improve- ments or construct new buildings and improvements thereon, or to so provide through other means, as set forth in Laws 1974 , Chapter 228, or to grade, fill and construct foundations or otherwise prepare the site for improvements , and to dispose of said property pursuant to section 462 . 525 , provided that the provisions of section 462 . 525 requiring conformance to an urban re- newal plan shall not apply, and to finance such activ- ities by means of the redevelopment project fund or by means of tax increments or tax increment bonds or by the methods of financing provided for in section 462. 525 or by means of contributions from the municipality provided for in section 462 . 581 , clause ( 9 ) , or by any combina- - A - 2 tion of such means ; provided that , real property with buildings or improvements thereon shall only be acquired when the buildings or improvements are substandard ; and provided further that the exercise of the power of emi- nent domain under this clause shall be limited to real property which contains buildings and improvements which are vacated and substandard. For the purpose of this subparagraph, substandard buildings or improvements mean buildings or improvements that are dilapidated or ob- solescent , faultily designed, lack adequate ventilation, light , or sanitary facilities, or any combination of these or other factors that are detrimental to the safety or health of the community; ( 8) Within its area of operation to determine the level of income constituting low or moderate family income . Such income level shall be that level below which there is not available within the area of opera- tion a substantial supply of decent , safe and sanitary housing provided by private enterprise without subsidy at prices or rents within the financial means of persons and families of such incomes . The authority may estab- lish various income levels for various family sizes . In making its determination the authority may consider income levels which may be established by the federal housing administration or a similar or successor federal agency for the purpose of federal loan guarantees or subsidies for persons of low or moderate income. The authority may use such determination as a basis for the maximum amount of income for admissions to housing de- velopment projects owned or operated by it ; ( 9 ) To provide in federally assisted projects such relocation payments and assistance as may be necessary to comply with the requirements of the Federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 , and any amendments or supplements thereto. PROCEDURAL REQUIREMENTS 1 . All actions taken by the Administrator pursuant to the above-mentioned powers shall be carried out within the statutory requirements for a Housing and Redevelopment Authority as given in Minnesota Statutes , Sections 462 . 411 through 462 .716 . 2 . An amount not exceeding ten percent ( 10% ) of the total tax increment expenditures authorized by the tax in- crement financing plan( s ) or the total tax increment expen- ditures for the project , whichever is less , can be used to pay any administrative expenses for a project . Minnesota Statutes , §273 . 75 , Subd. 3. 3 . Administrative expenses include amounts paid for services provided by bond counsel , fiscal consultants , and planning or economic development consultants . Administra- tive expenses do not include amounts paid for the purchase of land or amounts paid to contractors or others providing materials and services , including architectural and engi- neering services, directly connected with the physical de- velopment of the real property in the project, relocation benefits paid to or services provided for persons residing or businesses located in the project, or amounts used to pay interest on, fund a reserve for , or sell at a discount bonds issued pursuant to section 273 . 77 . Minnesota Statutes , §273 . 73, Subd. 13 . 4 . Following Council approval of a tax increment financing plan for a tax increment district , the Administra- tor shall request the County Auditor to certify the original assessed value of the tax increment district . Minnesota Statutes §273 . 74 , Subd. 3 . 5 . Upon adoption by the Council of the tax increment financing plan for a tax increment district , the Administra- tor shall file a copy of the tax increment financing plan with the Minnesota Energy and Economic Development Author- ity. Minnesota Statutes, §273 . 74 , Subd. 2 . The plans should be addressed as follows : Minnesota Energy and Economic Development Authority Community Development Division 9th Floor , American Center Building 150 East Kellogg Blvd. St . Paul , Minnesota 55101 Attention: John Jacobson 6 . The Administrator shall seek modification of a tax increment financing plan for a tax increment district by the process required for approval of the original tax increment financing plan if the Authority seeks to do any of the fol- lowing : (a) reduce or enlarge the geographic area of the tax increment district ( the geographic area can be re- duced but not enlarged after five ( 5 ) years following certification to the original assessed value of the tax increment district ) ; (b) increase the amount of bonded indebtedness to be incurred; A - 4 (c) increase the portion of captured assessed value to be retained by the City; (d) increase the total estimated tax increment expenditures ; or (e) designate additional property to be acquired by the Authority. Minnesota Statutes §273 . 74 , Subd. 4 . 7 . On or before July 1 of each year , the Administrator shall submit to the Scott County Board, all affected school boards, and to the Minnesota State Auditor a report of the status of each tax increment district in Housing and Rede- velopment Project No. I . The information to be included in the report is given in the model form attached hereto as EXHIBIT 1 . 8 . All revenues derived from each tax increment dis- trict shall be used in accordance with the tax increment financing plan. The revenues shall be used for the follow- ing purposes : 1 . to pay the principal of and interest on bonds issued to finance a project ; 2. to finance or otherwise pay the capital and administration costs of Housing and Redevelopment Proj- ect No. 1 pursuant to the Housing and Redevelopment Act; 3 . to accumulate and maintain a reserve in a special development account for the payment of the prin- cipal of and interest on bonds issued to finance a pro- ject; 4. to pay for project costs as identified; and 5 . to finance or otherwise pay for other purposes as provided in Section 273 . 75, Subd . 4, of the Tax In- crement Financing Act . These revenues shall not be used to circumvent any levy limits . Minnesota Statutes, §273 . 75, Subd. 4 . 9 . In the year in which the tax increments exceed the amount necessary to pay the costs authorized by the tax increment financing plans , including the amount necessary to cancel any tax levy as provided in Minnesota Statutes, Sec- tion 475 . 61, Subd. 3, the Authority amount to: shall use the excess A - 5 1 . prepay any outstanding bonds; 2 . discharge the pledge of tax increment there- for ; 3 . pay into an escrow account dedicated to the payment of such bonds; or 4 . return the excess amount to the County Auditor for distribution as provided in Section 273 . 75, Subd. 2, of the Tax Increment Act . Minnesota Statutes, 5273 . 75, Subd. 2 . 10 . Pursuant to Section 273 .75, Subd. 1 , of the Tax Increment Financing Act : 1 . No tax increments shall be paid to the City for the tax increment districts after three ( 3) years from the date of certification of the original assessed value of the taxable property in the tax increment dis- tricts by the County Auditor unless within the three( 3 ) -year period: (a) bonds have been issued pursu- ant to Section 273 . 77 or in aid of a project pursuant to any other law, except revenue bonds issued pursuant to Chapter 474 prior to August 1, 1979, or (b) the Author- ity has acquired property within the tax increment dis- tricts or (c) the City has constructed or caused to be constructed public improvements within the tax increment districts . 2 . The tax increments pledged to the payment of bonds and interest thereon may be discharged and the tax increment districts may be terminated if sufficient funds have been irrevocably deposited in the debt ser- vice fund or other escrow account held in trust for all outstanding bonds to provide for the payment of the bonds at maturity or redemption date. 3 . No tax increments shall in any event be paid to the City from the tax increment districts after eight (8) years from the date of the receipt by the City of the first tax increment or ten ( 10) years from approval of each tax increment financing plan, whichever is less. Modification of each tax increment financing plan pursuant to Section 273. 74 , Subd. 4, of the Tax Incre- ment Financing Act shall not extend the durational limits of that provision. (Once the Authority deter- mines the term of the tax increment district , that term shall govern. ) A - 6 4 . If, after five ( S) years from the date of certification of the original assessed value of the tax increment districts pursuant to Section 273.76 of the Tax Increment Financing Act , no demolition, rehabil- itation or renovation of property or other site prepara- tion, including improvement of a street adjacent to a parcel but not installation of an underground utility service, has been commenced on a parcel located within the tax increment districts by the City or by the owner of the parcel in accordance with the tax increment financing plans, no additional tax increments may be taken from that parcel, and the original assessed value of that parcel shall be excluded from the original assessed value of the Tax Increment Districts. If the City or the owner of the parcel subsequently commences demolition, rehabilitation or renovation or other site preparation on that parcel , including improvement of a street adjacent to that parcel , in accordance with the tax increment financing plans, the authority shall cer- tify to the County Auditor that the activity has com- menced, and the County Auditor shall certify the as- sessed value thereof as most recently certified by the Commissioner of Revenue and add it to the original as- sessed value of the tax increment districts. For pur- poses of this subdivision, "parcel" means a tract or plat of land established as a single unit for purposes of assessment . A list will be maintained by the Building Inspector of the City to document all building permits issued within the district for private redevelopment, including alterations, additions, new construction and demolition. 11 . The tax increments received with respect to payment of principal and interest for bonds issued for improvements made within the tax increment districts shall be submitted by the Authority to the City and segregated by the Authority in a special account or accounts on its official books and records or as otherwise established by resolution of the City to be held by a trustee or trustees for the benefit of holders of the bonds. Minnesota Statutes, §273 . 76, Subd. 4 . A - 7 EXHIBIT 1 STATE OF MINNESOTA TO APPENDIX A OFFICE OF THE STATE AUDITOR C . o SUITE 400 SSS PARI: STREET SAINT PAUL 55103 ARNE H. CARLSON S,ATE AUDITOR December 11 , 1985 TO: Administrators and Finance Officers in Local Governments with Tax Increment Districts Enclosed are the new tax increment district reporting format and instructions for completing it. Pursuant to Minnesota Statutes Section 273.74, Subd. 6, all administering authorities of tax increment districts (including cities, counties , rural devel- opment financing authorities, port authorities and housing and redevelopment authorities) are required to submit annually to the state auditor, on or before July 1, a financial report in compliance with this format. This requirement was effective August 1, 1985. The enclosed format replaces the "annual disclosure report" formerly filed with the Department of Energy and Economic Development or the State Planning Agency. The format was prepared by this office and reviewed extensively by administering authorities, CPAs and other interested parties. We strongly recommend that you review the format with the CPA firm which pre- pares your annual financial report, since the forms will be included in that document. If you have any questions , please contact Connie Waterous at 612/297-3681 . Sincerely, ARh_ E. CARLSON State Auditor Enclosures AN EOUAL OPPORTUNITY EMPLOYER - 1 - OFFICE OF THE STATE AUDITOR INSTRUCTIONS FOR TAX INCREMENT FINANCING REPORTING Pursuant to Minnesota Statutes Section 273.74, Subd. 6 NOTE TO THE FINANCIAL STATEMENTS Example #X. Long_Tera Debt - Other The (name of local government) is the administering authority for the following tax increment finance districts: (REPEAT THE FOLLOWING NOTE FOR EACH DISTRICT) Name of district including any identifying number Type of district - redevelopment, housing, or economic development - the authorizing lay:, name and year established and duration of the district. Original Assessed Value: $Y-UaXXXXXX Current Assessed Value: XXXXXXXXXX Captured Assessed Value: Retained by Authority $XXXXXXRXXX Shared with other taxing districts XY.Y--T-)D XX Total bonds issued and type $XXY- XRXXXX Total loans incLrred XXXXXXRXXX Amounts redeemed (include principal payments only) (=XXXXYY. Outstanding bonds and loans at 12/31/X.X SXXXXXXXXXX - z - d Statutes Section 273.74 Subd. 6 this schedule should be incltd (Pursuant to Minnesotae i.n the Supplemental Information section of the audited annual financial report. ) MINNESOTA LOCAL GOVERNMENT SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS FOR (NAME AND NUMBER), A TAR INCREMENT FINANCING DISTRICT DECEMBER 31 , 19.X Accounted Original *Amended for in Current Amount Budget Budget Prior Years Year Remaining Sources of Funds: Bond proceeds $ $ $ $ $ Tax increments received Interest on invested funds Real estate sales (Note 1) Other (Describe) Other (Describe) Total Sources of Funds $ $ S S S Uses of Funds: Land acquisition $ $ $ $ $ Building acquisition Site improvements or preparation costs Installation of public utilities and improvements Other public improvements Bond payments Principal Interest Loan payments Principal Interest Administrative costs Other (Describe) Total Uses of Funds S $ $ S $ District Balance (or Deficiency) $ $ $ $ $ Transfers to other districts Transfers from other districts Transfers to/from other funds Funds Remaining (or Deficient) $ $ $ $ $ *See instructions page 5 NOTES Note (1) (List district properties sold to developers, the total cost to the authority or fair market value, if contributed, and the price paid by the developer. ) Note (2) (List tax exempt obligations, other than tax increment bonds , issued on behalf of private entities for facilities located in the district. ) 3 - OFFICE OF THE STATE AUDITOE INSTRUCTIONS FOR TAX INCREMENT FINANCING REPORTING Pursuant to Minnesota Statutes Section 273.74, Subd. 6 (Date) Under Minn. Stat. S 273.74, Subd. 6 (copy enclosed) , the following reporting format for tax increment districts is required and takes the place of the annual disclosure report formerly filed with the Department of Energy and Economic Development or the State Planning Agency. The report has two sections: (1) a Note to the Financial Statements; and (2) a Schedule of Sources and Uses of Public Funds. both sections of the report should be included in the administering authority's annual financial report and sent to the Office of the State Auditor, 555 Park Street, St. Paul , MN 55103. Copies of both sections of the report should also be provided to the county and school district boards and to the governing body of the municipality, if the authority is not the municipality. The reports are due annually to the State Auditor on or before July 1. Inclusion in the administering authority's annual financial report filed with the State Auditor satisfies this requirement. The reporting is to be on the same basis of accounting as the annual financial report. Instructions for Note to the Financial Statements General Instructions A note to the financial statements should be included for each tax increment district for each city, county or other local government with outstanding tax increment debt. If financial data on the adr.inistering authority are included in the financial statement of another entity (for exa=pie, an SERA included in a city financial statement), the note should appear in both statements. If the district has no long-te= debt, all information in the note (except the bonded deb: data) is required to be reported in the Schedule o: Sources and Uses of Public Funds. The Note uses the following terms: Admir.isterinz Authority - the local government or agency responsible for admin- istering the district; the authority which adopted the :ax Increment Financing Plan (hinn. Stat. 4 273.74, subd. 1) will ordinarily be the administering authority. 7-he administering authority will be a cit}, county, rural develop- ment financing authority, port authority, or housing and redevelopment authority. TyDe of District — By law, each district must qualify as a redevelopment, housing, or econoWic development district. The following definitions paraphrase statutory language; for exact legal language, see Minn. Stat. S 273.73, subds. 1G-12. V Redevelopment Districts are areas of extensively deteriorated or under- utilised property. Rousing Districts include properties intended for low- or moderate- income housing as defined by federal , state, or municipal legislation. Economic Development Districts are areas not meeting the requirements of redevelopment or housing districts, but which, if included in a tax increment district, will discourage loss of economic activity, increase employment, or enhance the local tax base. Year Established - the year the tax increment plan is approved by the local governing authority. Authorizing Law - one of the following will be cited: Minnesota Rural Development Finance Authority (Minn. Stats. Ch. 362A) Port Authority (Minn. Stats. S 458. 192) Municipal Development District (Minn. Stats. Ch. 472A) }sousing and Redevelopment Authority (Minn. Stats. S 462.545 and Minn. Stats. S 462. 585) Metropolitan Housing and Redevelopment Authority (Minn. Stats. S 473. 193, 473. 201 ) Municipal Industrial Development (Minn. Stats. Ch. 474) Special Laws: St. Paul Urban Renewal - 1963 Laws, Chapter 881 Hopkins Development Districts - 1971 Laws, Chapter 548 Minneapolis and Robbinsdale Development Districts - 1971 Laws, Chapter 677 Duluth Development Districts - 1973 Laws, Chapter 761 St. Paul Development Districts - 1973 Laws , Chapter 764 Duration of District - the duration as contained in the original tax increment financing plan (Minn. Stats. S 273.74, subd. 1(6)) or any modified plan. Original Assessed Value - the assessed valuation of the district when the district was created, as certified by the county auditor. If the original assessed value is modified by the auditor pursuant to Minn. Stats. S 273. 76, subd. 1, use that figure. Current Assessed Value - 1984 assessed value of the district for taxes payable in 1985, as certified by the county auditor. Captured Assessed Value - the difference between current assessed value and ori- ginal assessed value; captured assessed value is certified each year by the county auditor. Retained by the Authority - the portion of captured assessed value designated by the authority to generate tax revenue for payment of debt service and other eligible expenditures. Shared with Other Taxing Districts - the portion of captured assessed value not retained by the authority, but shared with other taxing jurisdictions. An example of the note is attached. - S - INSTRUCTIONS FOR SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS General Instructions The Schedule of Sources and Uses of Public Funds for tax increment financing districts should be prepared for each tax increment district in the city, county or other local government in Minnesota. The schedule is to be included in the Supplemental Information of the audited annual financial report of the adminis- tering authority effective for calendar year 1985. If the tax increment district has no long-term bonded debt and therefore will not be covered in the Note, all the information from the Note except that on bonded debt must be disclosed in the Schedule. The schedule is designed to show the original tax increment district budget in the first column. If there is an amended budget, it is shown in the second column. (If there is no amended budget, delete this column. ) The other columns show funds accounted for in prior years; the current year funds, and the amount remaining. (The amount remaining is the difference between the most current budget, and the sum of funds accounted for in prior years and in the current year. ) 1. Sources of Funds Bond proceeds. Net proceeds of tax increment bonds sold or issued in the accounting period. Tax increments received. Include all tax increments received on this line. Separate mounts accounted for in prior years from those received in the current year. Interest on invested funds. Include interest income received fro= C.D. 's, Treasury bills and other investments. If investments are pooled, show the amount credited to the district. t- Veal estate sales. Report district properties sold to developers for each property sold. In a separate footnote below, list district properties sold to developers and, for each property sold, the total cost to the authority and the price paid by the developer. Other. Enter all other sources of funds together with a description of each source. 7-nese will include any other sources allocated or pledged to the district (e.g. , CDBG funds , UDIAG funds, etc. ) - 6 - �. II. Uses of Funds Land acquisition. Enter uses of funds for land purchases, but not site improvement , preparation or relocation costs. Buildinjz acouisition. Enter uses of funds for the construction or purchase of buildings, but not relocation costs. Site improvements or preparation costs. Include costs of removing structures, cleanup, grading and all other site preparation costs. Installation of public utilities and improvements. Include costs of all public utilities and improvements such as sever, Water, streets, storm severs , and sidewalks. Other public improvements. Include any other public improvements. Bond payments Principal Interest Loan Payments Principal Interest Administrative costs. Include all administrative costs such as accounting, auditing and legal expenditures. Also include expense of management, supervision and protection, as well as allocated costs. Other. Include and describe all other expenditures not shown elsewhere. Show relocation costs separately under this category. Transfers to other districts. Show transfers to other tax increment districts within the governmental unit. Identify the receiving district. Transfers fro=: other districts. Shot transfers from other tax increment districts wi district. thin the governmental unit. Identify the contributing Transfers to/from other funds. Show transfers from and to other city funds. Identify the funds. III. Funds Remaining or Deficient Show the funds remaining or deficient in the tax increment district, at the end of the pertinent accounting period. [For text of subds 4 and S, see M.S.1984) Subd. 6. Financial reporting. (a) The state auditor shall develop a uniform system of accounting and financial reporting for tax increment financing districts. The system of accounting and financial reporting shall, as nearly as possible: (1) provide for full disclosure of the sources and uses of public funds in the district; (2) permit comparison and reconciliation with the affected local government's accounts and financial reports, (3) permit auditing of the funds expended on behalf of a district, including a single district that is part of a multidistrict project or that is funded in part or whole through the use of a development account funded with tax increments from other districts or with other public money; (4) be consistent with generally accepted accounting principles. (b) The authority must annually submit to the state auditor, on or before July 1, a financial report in compliance with paragraph (a). Copies of the report must also be provided to the count}, and school district boards and to the governing body of the municipality, if the authority is not the municipality. To the extent necessary to permit compliance with the requirement of financial reporting, the county and any other appropriate local government unit or private entity must provide the necessary records or information to the authority or the state auditor as provided by the system of accounting and financial reporting developed pursuant to paragraph (a). (e) The annual financial report must also include the following items: (I) the original assessed value of the district; (2) the captured assessed value of the district, including the amount of any captured assessed value shared with other taxing districts; (3) the outstanding principal amount of bonds issued or other loans incurred to finance project costs in the district; (4) for the reporting period and for the duration of the district, the amount budgeted under the tax increment financing plan, and the actual amount expended for, at least, the foIiowing categories: (A) acquisition of land and buildings through condemnation or purchase; (B) site improvements or preparation costs; (C) installation of public utilities or other public improvements; (D) administrative costs, including the allocated cost of the authority; (5) for properties sold to developers, the total cost of the property to the authority and the price paid by the developer; (6) the amount of tax exempt obligations, other than those reported under clause (3), that were issued on behalf of private entities for facilities located in the district. (d) The reporting requirements imposed by this subdivision arc in Iicu of the annual disclosure required by subdivision 5. History: 1985 c 194 s 11; 1Sp1985 c 14 art 8 s 14,15 APPENDIX B DATES OF PUBLIC ACTION AND RESOLUTION NOS . ESTABLISHING HOUSING AND REDEVELOPMENT PLAN, TAX INCREMENT DISTRICTS, TAX INCREMENT FINANCING PLANS AND MODIFICATIONS THEREOF DATE RESOLUTION NO. ACTION ---- Publication of Notice of Public Hearing re- garding action taken by Resolution No. January 2 , 1979 Approval of Redevel- opment Plan and es- tablishment of Valley Industrial Park Rede- velopment Project No. 1 . ---- Publication of Notice of Public Hearing re- garding action taken by Resolution No. July 17 , 1979 Modification of Rede- velopment Plan for Valley Industrial Park Redevelopment Project No. 1 . ---- Publication of Notice of Public Hearing re- garding action taken by Resolution No. June 29, 1982 Approval of Tax In- crement Financing Plan and establish- ment of Tax Increment District No. lA within Downtown Rede- velopment Project No. 1. B - 1 ---- Publication of Notice of Public Hearing re- garding action taken by Resolution No. February 28 , 1984 Modification of Val- ley Industrial Park Redevelopment Project No. 1 and its re- designation as Minne- sota River Valley Housing and Redevel- opment Project No. 1 . July 11, 1984 ---- Publication of Notice of Public Hearing re- garding action taken by Resolution No. August 7, 1984 Modification of Hous- ing and Redevelopment Plan for Minnesota River Valley Housing and Redevelopment Project No. 1 . Modifi cation of Tax Incre- ment District No. lA within Downtown Rede- velopment Project No. 1 and its redesigna- tion as Tax Increment District No. 3 within Minnesota River Valley Housing and Redevelopment Project No. 1 . Approval of Tax Increment Financing Plan for Tax Increment District No. 5 within Minnesota River Valley Redevelopment Housing and Rede- velopment Project No. 1. April 1986 ---- Publication of Notice of Public Hearing re- garding action taken by Resolution No. B - 2 f May 20 , 1986 Modification of Housing and Re- development Plan for Minnesota River Valley Housing and Redevelopment Project No. 1 . Amendment of Tax Increment Financing Plans relating to Tax Increment Financing Districts No. 2 through No. 5 . Establishment of Tax Increment Financing District No. 6 and adoption of the Tax Increment Financing Plan relating thereto. May 1986 Publication of Notice of Public Hearing regarding action taken by Resolution No. June 3, 1986 Expansion of Housing and Redevelopment Project No. 1 . Modification of Housing and Rede- velopment Plan relat- ing thereto. Amend- ment of Tax Increment Financing Plans relating to Tax Increment Districts No. 2 through No. 6 . B - 3 APPENDIX C EXERPT FROM THE CITY OF SHAKOPEE D0WNT0WN REVITALIZATION D. PRELIMINARY PUBLIC COSTS AND REVENUES FINAL REP ASSOCIATED WITH DOWNTOWN REDEVEL0PMENT PLAN PUBLIC COSTS FOR PROPOSED PUBLIC IMPROVEMENT Mini By-pass Construction : widen bridge , reconstruct 169/101 intersection and relocate 3 blocks of Highway 101 in a manner integrated to local street-scape project 1 , 610 , 000 R-O-L: Acquisition : 13 parcels in blocks 2 , 3 and 5 of Shakopee City Plat 1 , 017 , 000 R-O-W Relocation : 13 residential and 9 businesses 310 , 000 R-O-W Demolition : 5 single family and 15 , 737 s . f . of commercial property 21 , 000 Admin . /Legal /Engineering/Planning 140 , 000 Contingency 295 , 800 Subtotal $3 , 393 , 800 $3 , 393 , 80 Street-scape I=provements Road , Sidewalk : includes new curbs , pave- ment , sidewalks , pedestrian improvements , landscaping , tree grates and guards , plaza , bus shelters , kiosks and street lighting for area bounded by 1st and 3rd Avenues , Atwocc and Sommerville 3 , 230 , G;;C� Parking Lot : development of 3 lots with pave=ent , curbs , lighting and landscaping ; those designated for improvement are the blue and gold arrow and new lot on the abandoned railroad right-of-way 275 , 000 Admin . /Legal /Engineering/Planning 158 , 000 Contingency 350 ,500 Subtotal $4 , 013 , 500 $4 , 013 , 50C• 83 ~ Other Underground Utilities : underground exist - ing overhead utility lines (electrical and railroad communications lines 500 , 000 Riverfront Improvements : includes trails , landscaping , lighting , restrooms , pedes - trian amenities 185 , 000 Admin . /Legal /Engineering/Planning 58 , 000 Contingency 100 , 700 Subtotal S 843 , 700 $ 843 , 700 GRAND TOTAL PUBLIC IMPROVEMENT $8 , 251 , 000 PUBLIC COSTS FOR HOUSING DEVELOPMENT Housing Assistance : could involve land write-down , interest-rate reduction , or equity participation 368 , 000 Relocation : 2 businesses and 6 residential units 96 , 000 Demolition : 2 single family and 8 , 290 s . f . of commercial/multi-family housing 15 , 000 Admin . /Legal /Engineering/Planning 48 , 000 Contingency 53 , 000 GRAND TOTAL HOUSING 55S0 , 000 PUBLIC C25TS FOR REHABILITATION PR;GRAM Rehabilitation Loans 2 , 000 , 000 Admir . /Legal 30 , 000 GRAND TOTAL REHABILITATION $2 ,030 , 000 =* GRAND TOTAL COSTS ** $ 10 , 861 , 000 84 REVENUES Downtown Tax Increment $4 , 200 , 000* Other Tax Increment 2 , 900 , 000 Small Cities Development Grant 750 , 000 Economic Development Crant 200 , 000 KN Department of Transportation 910 , 000 Other Transportation Funding ( possibly Federal Aid Urban , High Hazard Elimination Fund ) 583 , 800 Utilities Capital Park Reserve 55 , 200 Park Grants /DNR 115 , 200 Capital Improvement Fund 14 , 600 Interest Income 500 , 000 Special Assessments 1 , 003 , 375 ** GRAND TOTAL REVENUES *= $ 11 , 232 , 17 * Eased upon the refined Redevelopment Plan , there will be future new construction of : 100 housing units 94 , 000 s . f . retail 40 , 000 s . f . office This future development will create an estimated assessed value of $ 7 , 169 , 000 . In addition , it is assumed that the rehabilitation of existing buildings will create a new assessed value of $3 , 440 , 000 . The total value of new con- struction and rehabilitation is estimated at $ 10 , 609 , 000 , The existing value of the sites to be rehabed and the sites which will be cleared and new buildings constructed is $2 , 652 , 000 . This leaves an increased assessed value in the downtown of $7 , 957 , 000 . This results in a bondi of $7 , 000 , 000 in tax increment funding capacity ng . The Downtown Com- mittee recoamended that only 60Z of this bonding capacity , or $4 , 200 , 000 , beutilized for the hard costs outlined in the redevelopment plan . The retaining 40Z , or $2 , 800 , 000 , would be available to subsidize individual development projects Within the project area , but outside the Scope of the pre- vious public costs . E5 J MEMO TO: Shakopee Housing and Redevelopment Authority (HRA) FROM: Barry A. Stock, Administrative Aide RE: Res . #86-4 - A Resolution Requesting City Council to issue G/O Tax Increment Bonds to Finance Public Improvement Costs Within the HRA' s Minnesota River Valley Housing and Redevelopment Project No. 1. DATE: May 30 , 1986 Introduction and Background: Pending HRA approval of the Shakopee Valley Square Developers Agreement and resolution #86-3 expanding Minnesota River Valley Housing and Redevelopment Project #1, it would be appropriate for the HRA to approve Res. #86-4 requesting the City Council to issue G/0 Tax Increment Bonds to finance the Shakopee Valley Square Project and the public improvement costs for the Holmes St. Sewer, Bridge EAW, Second Ave. Parking Lot and Second Ave. - Parking Lot Landscaping projects. (See Attachment #1) Dave MacGillivray of Springstead Inc. will be at the meeting to discuss Springstead' s recommendations for the City and the following bond sales: 1. Tax Increment Bonds - Shakopee Valley Square - $500 , 000 2. Tax Increment Bonds - Holmes St. Sewer, Bridge EAW, Second Ave. Parking Lot, Second Ave. Parking Lot Land- scaping - $1, 645, 000 3 . Improvement Bonds - 4th Ave. & Timber Trails - $355, 000 Springstead' s recommendations appear in attachment #2 . Because two of the three bond sales involve the HRA, staff felt it would be appropriate for Mr. Mac Gillivray to make his present- ation for all three bond sales at the HRA meeting. Following the HRA meeting it would be appropriate for the City Council to act on the following resolutions: Resolution #2569 - $500 , 000 Tax Increment Bonds - Shakopee Valley Square Resolution #2570 - $1, 645 , 000 Holmes St. Sewer, Bridge EAW, Second Ave. Parking Lot and Second Ave. Parking Lot Landscaping. Resolution #2571 - $355, 000 Improvement Bonds - 4th Ave. & Timber Trails Action Requested: HRA Move to approve resolution #86-4 , a resolution requesting the City of Shakopee to issue its general obligation tax increment bonds to finance public improvement costs within the HRA' s Minnesota River Valley Housing and Redevelopment Project No. l. CITY COUNCIL 1. Move to approve resolution #2569 , a resolution providing for the issuance and sale of $500 , 000 General Obligation Tax Increment Bonds, Series 1986 A. 2 . Move to approve resolution #2570 , a resolution providing for the issuance and sale of $1, 645 , 000 General Obligation Tax Increment Bonds, Series 1986 B. 3 . Move to approve resolution #2571, a resolution providing for the issuance and sale of $355 , 000 General Obligation Tax Increment Bonds, Series 1986 B. Exhibit #1 RESOLUTION NO. 86-4 Resolution of the Board of Commissioners of the Shakopee HRA Requesting the City of Shakopee to Issue Its General Obligation Tax Increment Bonds to Finance Public Improvement Costs Within the HRA ' s Minnesota River Valley Housing and Redevelopment Project No. 1 IT IS HEREBY RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Shakopee, Minnesota, as follows : 1 . The Board has identified the project costs and activities set out in the attached Exhibits A and B, respectively, to be undertaken by the HRA in cooperation with the City of Shakopee within and for the benefit of the HRA' s Minnesota River Valley Housing and Redevelopment Project No. 1 . 2 . In order to provide financing for the attached project costs , the Board of the HRA hereby requests that the Shakopee City Council authorize the issuance of the City' s $500 , 000 General Obligation Tax Increment Bonds , Series 1986A, and the City' s $1 , 645 , 000 General Obligation Tax Increment Bonds , Series 1986B, respectively. 3 . In connection with the issuance of such Bonds , the Board of the HRA intends to take such actions as may be desirable or necessary, including the authorization of appropriate tax increment pledge agreements , as required by Minnesota Statutes , Section 273 . 77 ( a ) , in order to facilitate such financing. Adopted in session of the Shakopee Housinq and Redevelopment Authority of the City of Shakopee, Minnesota, held this day of 1986 . Chairman ATTEST: Executive Director Approved as to form this day of 1986 . City Attorney EXHIBIT A $500,000 General Obligation Tax Increment Bonds, Series 1986A, of the City of Shakopee, Minnesota Shakopee Valley Motel Project Land Acquisition $330,000 Street Improvements 64,000 Contingency 30,000 Issuance Costs 13,050 Discount 7,500 Capitalized Interest 57,396 $501,946 Less Investment Earnings 1,946 TOTAL BOND ISSUE $500,000 EXHIBIT B $1,645,000 General Obligation Tax Increment Bonds, Series 1986B, of the City of Shakopee, Minnesota Holmes Street Second Avenue Second Avenue Bridge Environmental Storm Sewer Parking Lot Parking Lot Assessment Worksheet (#86-1) (1#85-4) Landscaping (#86-7 ) Construction 941,250 133,000 33,000 Engineering 167,350 24,000 6,000 158,200 Admin/Legal 20,700 2,700 700 5,000 Contingency 94,125 13,300 3,300 $1,223,425 $173,300 $43,000 $163,200 Total Project Cost $1,602,625 Issuance Costs 22,500 Discount 24,675 $1,649,800 Less Investment Earnings 4,800 TOTAL BOND ISSUE $1,645,000 RECOMMENDATIONS FOR CITY OF SHAKOPEE, MINNESOTA $355,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1986A $500,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1986A $1,645,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1986B STUDY NO. 3102 30 May 1986 SPRINGSTED Incorporated SPRINGSTED INCORPORATED Y Public Finance Advisors Gf' 85 East Seventh Place,Suite 100 Saint Paul,Minnesota 55101.2143 612.223.3000 30 May 1986 Mayor Eldon Reinke Members, City Council Mr. John Anderson, City Administrator Mr. Greg Voxland, Finance Director Shakopee City Hall 129 East First Avenue Shakopee, Minnesota 55379 RE: Recommendations for the Issuance of: $355,000 General Obligation Improvement Bonds, Series 1986A $500,000 General Obligation Tax Increment Bonds, Series 1986A $1,645,000 General Obligation Tax Increment Bonds, Series 19868 We respectfully request your consideration of our recommendations for the issuance of these three bond issues according to the enclosed "Official Terms of Offering." The City staff has informed us of the progress of this year's improvement program, and the need to proceed with the financing of these projects at this time. The reason for three distinct bond issues reflects the variety of financing sources from which these issues will be repaid. These recommendations cover each bond issue individually, with those provisions common to all three issues addressed collectively in the conclusion. The Improvement Bonds This issue will provide the financing for two improvement projects: 4th Avenue Reconstruction, Project 1986-3; and Timber Trails Streets, Project 1986-5. We have developed the following project budget based upon information supplied by City staff: 4th Avenue Timber Trails Total Construction $301 ,200 $104,920 $406, 120 Engineering 59,600 20,790 80,390 Administration/Legal 6,600 2,300 8,900 Subtotal $367,400 $128,010 $495,410 Contingency 30, 100 10,490 40,590 Issuance 5, 162 3,738 8,900 Allowance for Discount 3,089 2,236 5,325 Capitalized Interest 8,408 6,088 14,496 Project Cost $414, 159 $150,562 $564,721 Less: MSA Funds (207,000) Less: Reinvestment Earnings ( 1 ,578) ( 1 , 143) (2,721 ) Bond Issue $205,581 $149,419 $355,000 City of Shakopee 30 May 1986 Page 2 The issue is reduced by $207,000 of Minnesota State-Aid Construction Funds for the 4th Avenue Reconstruction Project. The staff has assured us that these funds will be available to meet construction costs, and therefore, bond proceeds will not be required to finance these costs. The issue includes an allowance for discount bidding in the maximum amount of $5,325, or $15 per $1,000 of bonds issued. The discount is a marketing tool which provides the successful bidder a means of covering its costs and/or profit from underwriting the issue. The discount has proven beneficial in past City bond issues, and we recommend its continued use here. If the underwriter takes the maximum amount of the discount, the City will receive not less than $349,675 in net bond proceeds. These bonds are anticipated to be repaid by income from both special assessments and general property taxes. The statutory requirement relating to the issuance of improvement bonds specifies that at least 20% of the cost of the improvement must be specially assessed against benefitting property owners. In conjunction with the City staff we have prepared Exhibit I as an estimate of assessment income based on assessing 25% of the project cost. These assessments are assumed to be collected in 10 equal payments of principal, with an interest charge equal to the interest rate received on the bonds plus 1.5%, here assumed to be 8.75%. These assessments are assumed to be adopted by September 30, 1986. This assumption, as will be explained later, is critical. We further assume the City will experience no prepayments, delinquencies nor deferments in collection of these assessments. Exhibit II is our recommended structure for the issue. Columns I through 5 represent our estimate of the annual debt service. The City is required by statute to provide for 105% of debt service; this 5% overlevy requirement is reflected in column 6. The estimate of assessment income from Exhibit I plus capitalized interst is indicated in column 7. The projected, annual deficits with corresponding tax levies are listed in columns 8 and 10, respectively. These anticipated tax levies result from the City's decision to specially assess 25% of project costs. The City's first payment of interest only is due February I, 1987. Given the City assesses these projects prior to September 30, 1986, the City will receive its first collection of income from assessments and property taxes in mid-July, 1987. In order to have funds available to finance this first interest payment, we have included $14,496 in capitalized interest in the issue. The next payment is due August I, 1987, and should be paid by the first collection of assessments and taxes. Thereafter, each six-month payment of principal and/or interest should be funded from these two sources. If for some reason the City is unable to adopt the assessments prior to October 10, 1986, and therefore, the first collection of assessment income is delayed until 1988, the City will have to provide financing for the August I, 1987, and February I, 1988 debt service payments from other available funds. $500,000 General Obligation Tax Increment Bonds This issue will provide financing of the public costs associated with the Shakopee Valley Motel Project. The City is concluding final negotiations of a City of Shakopee 30 May 1986 Page 3 development agreement for this project. We recommend the City conclude these negotiations and execute the development agreement prior to issuing these bonds. The draft development agreement contains certain City financing commitments which we have reviewed with staff. We have prepared the following project budget based on these commitments: Land Acquisition $330,000 Street Improvements 64,000 Contingency 30,000 Subtotal $424,000 Issuance 13,050 Allowance for Discount 7,500 Capitalized Interest 57,396 Project Cost $501 ,946 Less: Reinvestment Earnings ( 1 ,946) Bond Issue $500,000 This issue also provides an allowance for discount bidding in the maximum amount of $7,500, or $15 per $1,000 of bonds issued. If the successful underwriter bids this maximum amount, the City will receive not less than $492,500 in net bond proceeds. These bonds are to be repaid by the collection of increment income generated by new development in the City's Tax Increment Financing District No. 6. The development agreement provides for a companion assessment agreement which establishes minimum market values for the development in this District. We have prepared an estimate of the increment income of the District based on these minimum market values. January 2, 1988 January 2, 1987 and Thereafter Market Value $1 ,500,000 $3,000,000 Assessed Value 636,000 1 ,281 ,000 Less: Original Assessed Value (366,219) (366,219) Captured Assessed Value $ 269,781 $ 914,781 Less: Fiscal Disparities (29.6%) (79,855) (270,775) Net Captured Assessed Value $ 189,926 $ 644,006 Mill Rate . 1 1491 . 1 1491 Increment Income $ 21 ,825 $ 74,000 The City intends to have this District fund its fiscal disparities contribution rather than having such contribution made from outside the District. We have City of Shakopee 30 May 1986 Page 4 been provided with estimates of the original assessed value and the fiscal disparities contribution ratio by the county auditor's office. These income figures are estimates based on current law and financial situations. Exhibit III is our recommended structure for this issue. The issue is expected to generate an annual surplus in all years except the 1987 levy year, for which a deficit of $16,238 is projected. This deficit is caused by the phasing of construction of the project, with the project 50% complete at that time. We discussed alternatives with the staff, and this approach is recommended. The staff estimates this deficit can be financed from other available funds. We have structured the issue in order that the City may recover most of this deficit in the following year. The first debt service payment of interst only is due February 1, 1987. Due to the project's construction timetable, the first collection of increment income is expected in mid-1988. We have therefore included $57,396 in capitalized interest in the issue to fund this first payment, as well as these payments due on August I, 1987, and February 1, 1988. Thereafter, except as noted above, increment income of the development is anticipated to fully fund each debt service payment. $1,645,000 General Obligation Tax Increment Bonds This issue will fund three construction projects and the preparation of an environmental assessment engineering study pertaining to a fourth project. The City Council will be considering amendments to its Housing and Redevelopment Plan on June 3, 1986, which will provide funding for these projects from all tax increment financing districts within the Redevelopment District. The City staff has provided us with certain project costs from which we have prepared our estimate of the project budgets. Project Budget Holmes Street 2nd Ave. 2nd Ave. Storm Sewer Parking Pkg.-Land Bridge 1986-1 1985-4 1986-7 EAW Total Construction $ 941 ,250 $133,000 $33,000 -- $1 , 107,250 Engineering 167,350 24,000 6,000 158,200 355,550 Administration/Legal 20,700 2,700 700 5,000 29, 100 Subtotal $1 , 129,300 $159,700 $39,700 $163,200 $1 ,491 ,900 Contingency 94, 125 13,300 3,300 -- 110,725 Subtotal $1 ,223,425 $173,000 $43,000 $163,200 $1 ,602,625 Cost of Issuance 22,500 Allowance for Discount 24,675 Total Project Cost $1 ,649,800 Less: Reinvestment Earnings (4,800) Net Bond Issue $1 ,645,000 City of Shakopee 30 May 1986 Page 5 We have provided an allowance for discount bidding in a maximum amount of $24,675, or $15 per $1,000 of bonds issued. The City will receive not less than $1,620,325 in net proceeds if the entire discount is taken. This issue is to be retired by the surplus tax increment from all existent tax increment districts within the Redevelopment District. In March of this year we completed a study estimating the annual surplus increment income from the K-Mart and Canterbury Downs Districts from existent and new development. The results of this study projected sizeable surpluses in the years through 1994, which is the last year of collection of increment income from the Canterbury Downs District. After 1994 the surpluses are reduced from previous levels but continue to be significiant. These projected surpluses are the funding source for repayment of these bonds. The City has also recently adopted a storm sewer user fee system. Based on discussions with staff, these user fee revenues are not recommended for debt service of this issue. The storm sewer project funded by this issue is the first of a series of such improvements. As future storm sewer projects require funding, the user fee revenues are expected to be drawn upon as part of the financing program. Our recommendation for the issue's structure is indicated in Exhibit IV. We estimate the issue will require a draw down in projected increment surpluses of $215,000 per year. This level of contribution is within our projected surpluses for the two referenced districts. We have not included any capitalized interest in the issue, as surpluses are now available to meet scheduled debt service payments. Common to All Issues Currently these bond issues are not considered to be subject to the provisions of the Tax Reform Act of 1986 passed by the U.S. House of Representatives in December of 1985. That tax bill, commonly referred to as HR 3838, originally required, among other things, that' a minimum of 5% of bond proceeds be expended within 30 days of issuance and that any funds used for the acquisition of tangible assets be segregated after 30 days of issuance into a restricted yield account. HR 3838 also requires certain record keeping items as well as a return to the federal government of any arbitrage profits received on bond proceeds. The effective date of HR 3838 is January I, 1986. On March 14, 1986, the ranking members of the House Ways and Means Committee, the Senate Finance Committee and the Secretary of the Treasury issued a joint statement whereby the parties agreed to a delay in the implementation of certain aspects of HR 3838 until September 1, 1986 or until the effective date of compromise legislation. The Senate Finance Committee, on May 6, 1986 adopted its own form of tax reform legislation, which is now awaiting consideration by the full Senate. We know of nothing in this legislation which would interrupt the marketing of these issues. If this legislation is passed by the Senate, a compromise committee will be named to work out the differences between the Senate and House bills. Until such time as a City of Shakopee 30 May 1986 Page 6 compromise is reached, or until September I, 1986, bond issues such as these being issued by the City will be issued pursuant to federal and State statute rules and regulations in effect prior to January 1, 1986. We have included in each of the Official Terms of offering a mandatory redemption provision should conflicts arise relating to the conformity of these issues with final legislation. If this legislation becomes law and provisions not now anticipated are included in the the final bill which would cause an issue to no longer be considered tax-exempt, then the mandatory redemption provision would allow the City to redeem bonds from unexpended bond proceeds in order to continue the tax-exempt status of the issue. We will, of course, keep the City apprised of new developments regarding tax reform legislation when and if they occur. For each issue we have provided the City with the opportunity to optionally redeem outstanding bonds in advance of their stated maturity. The conditions for exercising this option are identical in all cases. The City may first exercise this option on February I, 1995, for bonds maturing on or after February I, 1996. All prepayments are at a price of par plus accrued interest. We recommend the City authorize SPRINGSTED Incorporated to make application on the City's behalf for credit ratings of these issues to Moody's Investors Service of New York. We expect the City's last such rating of "A" to be reaffirmed. We further recommend that bids be taken by the City Administrator or his designee on these issues at 11 :30 A.M. on Tuesday, July I, 1986, in our offices. We will be prepared to present the results of these bids to the City Council for consideration of award at 7:30 P.M. that some evening. The City can expect to receive the proceeds of these issues approximately August I, 1986. Respectfully submitted, SPRINGSTED Incorporated /cjp CITY OF SHAKOPEE, MINNESOTA Prepared May 28, 1986 $355,000 GENERAL OBLIGATION By Springsted Incorporated IMPROVEMENT BONDS, SERIES 1986A PROJECTED ASSESSMENT INCOME 4TH AVE RECONSTR TIMBER TRAILS - - - - T O T A L - - - - - FILING DATE: 9/30/1986 FILING DATE: 9/30/1986 FILING COLLECT INTEREST INTEREST YEAR YEAR PRINCIPAL @ 8.75% TOTAL PRINCIPAL @ 8.75% TOTAL PRINCIPAL INTEREST TOTAL ----- ------- --------- -------- ----- --------- -------- ----- --------- -------- ----- 1986 1987 10,279 11,286a 21,565 3,764 4,133b 7,897 14,043 15,419 29,462 1987 1988 10,279 8,095 18,374 3,764 2,964 6,728 14,043 11,059 25,102 1988 1989 10,279 7,195 17,474 3,764 2,635 6,399 14,043 9,830 23,873 1989 1990 10,279 6,296 16,575 3,764 2,305 6,069 14,043 8,601 22,644 1990 1991 10,279 5,396 15,675 3,764 1,976 5,740 14,043 7,372 21,415 1991 1992 10,279 4,497 14,776 3,764 1,647 5,411 14,043 6,144 20,187 1992 1993 10,279 3,598 13,877 3,764 1,317 5,081 14,043 4,915 18,958 1993 1994 10,279 2,698 12,977 3,764 988 4,752 14,043 3,686 17,729 1994 1995 10,279 1,799 12,078 3,764 659 4,423 14,043 2,458 16,501 1995 1996 10,279 899 11,178 3,764 329 4,093 14,043 1,228 15,271 TOTALS 102,790 51,759 154,549 37,640 18,953 56,593 140,430 70,712 211,142 a) Includes interest from filing b) Includes interest from filing date to 12/31/1987. date to 12/31/1987. rn x CITY OF SHAKOPEE, MINNESOTA PREPARED MAY 28, 1986 $355,000 GENERAL OBLIGATION BY SPRINGSTED INCORPORATED IMPROVEMENT BONDS, SERIES 1986A SCHEDULE A DATED: 7/ 1/1986 MATURE: 2/ 1 7.000% ANNUAL ANNUAL LEVY ASSESSMENT SURPLUS/ CUMULATIVE ANNUAL LEVY MATURE PRINCIPAL INTEREST TOTAL (105%) INCOME (-DEFICIT) SURPLUS LEVY (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1986 1988 30,000 39,346 69,346 72,089 43,958* 28,131- 0 28,131 1987 1989 30,000 22,750 52,750 55,388 25,102 30,286- 0 30,286 1988 1990 30,000 20,650 50,650 53,183 23,873 29,310- 0 29,310 1989 1991 35,000 18,550 53,550 . 56,228 22,644 33,584- 0 33,584 1990 1992 35,000 16,100 51,100 53,655 21,415 32,240- 0 32,240 1991 1993 35,000 13,650 48,650 51,083 20,187 30,896- 0 30,896 1992 1994 35,000 11,200 46,200 48,510 18,958 29,552- 0 29,552 1993 1995 40,000 8,750 48,750 51,188 17,729 33,459- 0 33,459 1994 1996 40,000 5,950 45,950 48,248 16,501 31,747- 0 31,747 1995 1997 45,000 3,150 48,150 50,558 15,271 35,287- 0 35,287 TOTALS: $355,000 $160,096 $515,096 $540,130 $225,638 $314,492- $314,492 BOND YEARS: 2,287 ANNUAL INTEREST COST: $160,096 *INCLUDES CAPITALIZED AVERAGE MATURITY: 6.44 DISCOUNT (PREMIUM) : $5,325 INTEREST OF $14,496 AVG. ANNUAL RATE: 7.233% TOTAL INTEREST COST: $165,421 (EXEMPT FROM OVERLEVY) m x a) CITY OF SHAKOPEE, MINNESOTA PREPARED MAY 28, 1986 $500,000 GENERAL OBLIGATION BY SPRINGSTED INCORPORATED TAX INCREMENT BONDS, SERIES 1986A SCHEDULE B DATED: 7/ 1/1986 MATURE: 2/ 1 7.250% ANNUAL ANNUAL LEVY INCREMENT SURPLUS/ CUMULATIVE ANNUAL LEVY MATURE PRINCIPAL INTEREST TOTAL (105$) INCOME (-DEFICIT) SURPLUS LEVY (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1986 1988 0 57,396 57,396 57,396 57,396* 0 0 0 1987 1989 0 36,250 36,250 38,063 21,825 16,238- 0 16,238 1988 1990 20,000 36,250 56,250 59,063 74,000 14,937 14,937 0 1989 1991 30,000 34,800 64,800 68,040 74,000 5,960 20,897 0 1990 1992 30,000 32,625 62,625 65,756 74,000 8,244 29,141 0 1991 1993 35,000 30,450 65,450 68,723 74,000 5,277 34,418 0 1992 1994 35,000 27,913 62,913 66,059 74,000 7,941 42,359 0 1993 1995 40,000 25,375 65,375 68,644 74,000 5,356 47,715 0 1994 1996 40,000 22,475 62,475 65,599 74,000 8,401 56,116 0 1995 1997 45,000 19,575 64,575 67,804 74,000 6,196 62,312 0 1996 1998 50,000 16,313 66,313 69,629 74,000 4,371 66,683 0 1997 1999 55,000 12,688 67,688 71,072 74,000 2,928 69,611 0 1998 2000 60,000 8,700 68,700 72,135 74,000 1,865 71,476 0 1999 2001 60,000 4,350 64,350 67,568 74,000 6,432 77,908 0 TOTALS: $500,000 $365,160 $865,160 $905,551 $967,221 $61,670 $16,238 BOND YEARS: 5,037 ANNUAL INTEREST COST: $365,160 *INCLUDES CAPITALIZED AVERAGE MATURITY: 10.07 DISCOUNT (PREMIUM) : $7,500 INTEREST OF $57,396 AVG. ANNUAL RATE: 7.399$ TOTAL INTEREST COST: $372,660 (EXEMPT FROM OVERLEVY) m x CITY OF SHAKOPEE, MINNESOTA PREPARED MAY 28, 1986 $1,645,000 GENERAL OBLIGATION BY SPRINGSTED INCORPORATED TAX INCREMENT BONDS, SERIES 1986B SCHEDULE C DATED: 7/ 1/1986 MATURE: 2/ 1 7.250$ ANNUAL ANNUAL LEVY INCREMENT SURPLUS/ CUMULATIVE ANNUAL LEVY MATURE PRINCIPAL INTEREST TOTAL (105$) INCOME (-DEFICIT) SURPLUS LEVY (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) 1986 1988 0 188,832 188,832 198,274 215,000 16,726 16,726 0 1987 1989 85,000 119,263 204,263 214,476 215,000 524 17,250 0 1988 1990 90,000 113,100 203,100 213,255 215,000 1,745 18,995 0 1989 1991 90,000 106,575 196,575 206,404 215,000 8,596 27,591 0 1990 1992 100,000 100,050 200,050 210,053 215,000 4,947 32,538 0 1991 1993 105,000 92,800 197,800 207,690 215,000 7,310 39,848 0 1992 1994 115,000 85,188 200,188 210,197 215,000 4,803 44,651 0 1993 1995 120,000 76,850 196,850 206,693 215,000 8,307 52,958 0 1994 1996 130,000 68,150 198,150 208,058 215,000 6,942 59,900 0 1995 1997 140,000 58,725 198,725 208,661 215,000 6,339 66,239 0 1996 1998 150,000 48,575 198,575 208,504 215,000 6,496 72,735 0 1997 1999 160,000 37,700 197,700 207,585 215,000 7,415 80,150 0 1998 2000 175,000 26,100 201,100 211,155 215,000 3,845 83,995 0 1999 2001 185,000 13,413 198,413 208,334 215,000 6,666 90,661 0 TOTALS: $1,645,000 $1,135,321 $2,780,321 $2,919,339 $3,010,000 $90,661 $0 BOND YEARS: 15,660 ANNUAL INTEREST COST: $1,135,321 AVERACE MATURITY: 9.52 DISCOUNT (PREMIUM) : $24,675 AVG. ANNUAL RATE: 7.408% TOTAL INTEREST COST: $1,159,996 m x co OFFICIAL TERMS OF OFFERING $355,000 CITY OF SHAKOPEE, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1986A Sealed bids for the Bonds will be opened by the City Administrator, or his designee on Tuesday, July I, 1986, at 11:30 A.M., Central Time, at the offices of SPRINGSTED Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101-2143. Consideration for award of the Bonds will be by the City Council at 7:30 P.M., Central Time, of the same day. DETAILS OF THE BONDS The Bonds will be dated July I, 1986, as the date of original issue, and will bear interest payable on February I and August I of each year, commencing February I, 1987. Interest will be computed upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in integral multiples of $5,000 of a single maturity, as requested by the Purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the Registrar and interest on each Bond will be payable by check or draft of the Registrar mailed to the registered holder thereof at his address as it appears on the books of the Registrar as of the 15th of the calendar month next preceding the interest payment. The Bonds will mature February I in the amounts and years as follows: $30,000 1988-1990 $35,000 1991-1994 $40,000 1995-1996 $45,000 1997 MANDATORY REDEMPTION In the event that pursuant to federal laws and regulations, the City is required to use unexpended Bond proceeds for early redemption of Bonds in order to continue exemption of the Bonds from federal taxation, the City shall use such unexpended Bond proceeds to redeem Bonds on any date after notice is given pursuant to law. Those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid will be chosen by lot by the Registrar. All such prepayments shall be at a price of 102% plus accrued interest. OPTIONAL REDEMPTION The City may elect on February 1, 1995, and on any interest payment date thereafter, to prepay Bonds due on or after February I, 1996. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge special assessments levied against benefited properties. The proceeds will be used to finance the public improvements within the City. TYPE OF BID A sealed bid for not less than $349,675 and accrued interest on the total principal amount of the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $3,550, payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's Financial Advisor. No bid will be considered for which said check has not been filed. The check of the Purchaser will be retained by the City as liquidated damages in the event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continued to another date without award of the Bonds having been made. Rates offered by Bidders shall be in integral multiples of 5/100 or 1/8 of 1%. No rate for any maturity shall be more than 1% lower than any prior rate. Bonds of the some maturity shall bear a single rate from the date of the Bonds to the date of maturity. No bid may be conditioned upon award of any other offering of obligations by the City. AWARD The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined by the deduction of the premium, if any, from, or the addition of any amount less than par, to, the total dollar interest on the Bonds from their date to their final scheduled maturity. The City's computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. REGISTRAR The City will name the Registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the Registrar. CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of O'Connor & Hannan of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than 1:00 P.M., Central Time of the day of settlement. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Official Statement did not as of the date of the Official Statement, and J� does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 25 copies of the Official Statement. Dated June 3, 1986 BY ORDER OF THE CITY COUNCIL /s/ Judith Cox Clerk OFFICIAL TERMS OF OFFERING $500,000 CITY OF SHAKOPEE, MINNESOTA GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1986A Sealed bids for the Bonds will be opened by the City Administrator, or his designee on Tuesday, July 1, 1986, at 11:30 A.M., Central Time, at the offices of SPRINGSTED Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101-2143. Consideration for award of the Bonds will be by the City Council at 7:30 P.M., Central Time, of the same day. DETAILS OF THE BONDS The Bonds will be dated July I, 1986, as the date of original issue, and will bear interest payable on February I and August I of each year, commencing February I, 1987. Interest will be computed upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in integral multiples of $5,000 of a single maturity, as requested by the Purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the Registrar and interest on each Bond will be payable by check or draft of the Registrar mailed to the registered holder thereof at his address as it appears on the books of the Registrar as of the 15th of the calendar month next preceding the interest payment. The Bonds will mature February I in the amounts and years as follows: 20000 1990 35000 1993-1994 45000 1997 55000 1999 30,000 1991-1992 40,000 1995-1996 ;50,,000 1998 ;60,,000 2000-2001 MANDATORY REDEMPTION In the event that pursuant to federal laws and regulations, the City is required to use unexpended Bond proceeds for early redemption of Bonds in order to continue exemption of the Bonds from federal taxation, the City shall use such unexpended Bond proceeds to redeem Bonds on any date after notice is given pursuant to law. Those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid will be chosen by lot by the Registrar. All such prepayments shall be at a price of 102% plus accrued interest. OPTIONAL REDEMPTION The City may elect on February 1, 1995, and on any interest payment date thereafter, to prepay Bonds due on or after February I, 1996. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge tax increment income from the City's Housing and Redevelopment District #1. The proceeds will be used to finance the public costs within the Housing and Redevelopment District #1. TYPE OF BID A sealed bid for not less than $492,500 and accrued interest on the total principal amount of the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $5,000, payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's Financial Advisor. No bid will be considered for which said check has not been filed. The check of the Purchaser will be retained by the City as liquidated damages in the•event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continued to another date without award of the Bonds having been made. Rates offered by Bidders shall be in integral multiples of 5/100 or 1/8 of 1%. No rate for any maturity shall be more than I% lower than any prior rate. Bonds of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No bid may be conditioned upon award of any other offering of obligations by the City. AWARD The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined by the deduction of the premium, if any, from, or the addition of any amount less than par, to, the total dollar interest on the Bonds from their date to their final scheduled maturity. The City's computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. REGISTRAR The City will name the Registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the Registrar. CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of O'Connor & Hannan of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than 1:00 P.M., Central Time of the day of settlement. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Official Statement did not as of the date of the Official Statement, and does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 25 copies of the Official Statement. Dated June 3, 1986 BY ORDER OF THE CITY COUNCIL /s/ Judith Cox Clerk OFFICIAL TERMS OF OFFERING $1,645,000 CITY OF SHAKOPEE, MINNESOTA GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1986B Sealed bids for the Bonds will be opened by the City Administrator, or his designee on Tuesday, July I, 1986, at 11 :30 A.M., Central Time, at the offices of SPRINGSTED Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101-2143. Consideration for award of the Bonds will be by the City Council at 7:30 P.M., Central Time, of the same day. DETAILS OF THE BONDS The Bonds will be dated July I, 1986, as the date of original issue, and will bear interest payable on February I and August I of each year, commencing February I, 1987. Interest will be computed upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in integral multiples of $5,000 of a single maturity, as requested by the Purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the Registrar and interest on each Bond will be payable by check or draft of the Registrar mailed to the registered holder thereof at his address as it appears on the books of the Registrar as of the 15th of the calendar month next preceding the interest payment. The Bonds will mature February I in the amounts and years as follows: 85,000 1989 $105,000 1993 $130,000 1996 $160,000 1999 90,000 1990-1991 $115,000 1994 $140,000 1997 $175,000 2000 $100,000 1992 $120,000 1995 $150,000 1998 $185,000 2001 MANDATORY REDEMPTION In the event that pursuant to federal laws and regulations, the City is required to use unexpended Bond proceeds for early redemption of Bonds in order to continue exemption of the Bonds from federal taxation, the City shall use such unexpended Bond proceeds to redeem Bonds on any date after notice is given pursuant to law. Those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid will be chosen by lot by the Registrar. All such prepayments shall be at a price of 102% plus accrued interest. OPTIONAL REDEMPTION The City may elect on February I, 1995, and on any interest payment date thereafter, to prepay Bonds due on or after February 1, 1996. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge tax increment income from the City's Housing and Redevelopment District #1. The proceeds will be used to finance the public costs within the Housing and Redevelopment District #1. J� TYPE OF BID A sealed bid for not less than $1,620,325 and accrued interest on the total principal amount of the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $16,450, payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's Financial Advisor. No bid will be considered for which said check has not been filed. The check, of the Purchaser will be retained by the City as liquidated damages in the event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continued to another date without award of the Bonds having been made. Rates offered by Bidders shall be in integral multiples of 5/100 or 1 /8 of 1%. No rate for any maturity shall be more than 1% lower than any prior rate. Bonds of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No bid may be conditioned upon award of any other offering of obligations by the City. AWARD The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined by the deduction of the premium, if any, from, or the addition of any amount less than par, to, the total dollar interest on the Bonds from their date to their final scheduled maturity. The City's computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. REGISTRAR The City will name the Registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the Registrar. CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of O'Connor & Hannan of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than 1 :00 P.M., Central Time of the day of settlement. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Official Statement did not as of the date of the Official Statement, and does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 25 copies of the Official Statement. Dated June 3, 1986 BY ORDER OF THE CITY COUNCIL /s/ Judith Cox Clerk Extract of Minutes of Meeting of the City Council of the City of Shakopee, Scott County, Minnesota Pursuant to due call and notice thereof a regular or special meeting of the City Council of the City of Shakopee, Scott County, Minnesota, was held at the Shakopee City Hall on June 3 , 1986 , commencing at 7 : 30 o ' clock P .M. , C.T. The following Councilmembers were present : and the following were absent : The following resolution was presented by Councilmember who moved its adoption: RESOLUTION NO. 2571 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $355 , 000 GENERAL OBLIGATION IMPROVEMENT BONDS , SERIES 1986A b BE IT RESOLVED by the City Council of the City of Shakopee , Scott County, Minnesota as follows : 1 . It is hereby determined : (a) That the following assessable public improve- ment projects ( the "Improvements" ) have been duly ordered by the City and have been con- structed by the City or will be constructed e City has or will let under contracts which th therefor , all pursuant to and in accordance with Minnesota Statutes , Chapter 429 : 4th Avenue ( #86-3 ) Timber Trails ( #86-5 ) Construction $301 , 200 $104 , 920 Engineering 59 , 600 20 , 790 Admin/Legal 6 , 600 2 , 300 Contingency 30 , 100 10 , 490 Issuance Costs 5 , 162 3 , 738 Discount 3 , 089 2 , 236 Capitalized Interest 8 , 408 6 , 088 $414 , 159 $150 , 562 Less MSA Funds 207 , 000 -0- Less Investment Income 1 , 578 1 , 143 Total $205 , 581 $149 , 419 (b) That it is necessary and expedient to the sound financial management of the affairs of the City that the City issue its bonds pursu- ant to Minnesota Statutes , Chapters 429 and 475 , to provide financing for the Improve- ments . 2 . The City shall therefore issue and sell its $355 , 000 General Obligation Improvement Bonds, Series 1986A ( the "Bonds" ) , to provide financing of the Improvements , and $5 , 325 of such amount shall represent additional bonds issued pursuant to Minnesota Statutes , Section 475 . 56 , as additional interest required to market the Bonds at this time . The Bonds shall be issued and sold in accordance with the following Official Terms of Offering : OFFICIAL TERMS OF OFFERING $355,000 CITY OF SHAKOPEE, MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1986A Sealed bids for the Bonds will be opened by the City Administrator, or his designee on Tuesday, July I, 1986, at 11:30 A.M., Central Time, at the offices of SPRINGSTED Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101-2143. Consideration for award of the Bonds will be by the City Council at 7:30 P.M., Central Time, of the same day. DETAILS OF THE BONDS The Bonds will be dated July I, 1986, as the date of original issue, and will bear interest payable on February I and August I of each year, commencing February I , 1987. Interest will be computed upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in integral multiples of $5,000 of a single maturity, as requested by the Purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the Registrar and interest on each Bond will be payable by check or draft of the Registrar mailed to the registered holder thereof at his address as it appears on the books of the Registrar as of the 15th of the calendar month next preceding the interest payment. The Bonds will mature February I in the amounts and years as follows: $30,000 1988-1990 $35,000 1991-1994 $40,000 1995-1996 $45,000 1997 MANDATORY REDEMPTION In the event that pursuant to federal laws and regulations, the City is required to use unexpended Bond proceeds for early redemption of Bonds in order to continue exemption of the Bonds from federal taxation, the City shall use such unexpended Bond proceeds to redeem Bonds on any date after notice is given pursuant to law. Those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid will be chosen by lot by the Registrar. All such prepayments shall be at a price of 102% plus accrued interest. OPTIONAL REDEMPTION The City may elect on February I, 1995, and on any interest payment date thereafter, to prepay Bonds due on or after February I, 1996. Redemption may be in whole or in part,of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge special assessments levied against benefited properties. The proceeds will be used to finance the public improvements within the City. TYPE OF BID A sealed bid for not less than $349,675 and accrued interest on the total principal amount of the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $3,550, payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's Financial Advisor. No bid will be considered for which said check has not been filed. The check of the Purchaser will be retained by the City as liquidated damages in the event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continued to another date without award of the Bonds having been made. Rates offered by Bidders shall be in integral multiples of 5/100 or 1/8 of 1%. No rate for any maturity shall be more than I % lower than any prior rate. Bonds of the same maturity shall bear a single rate from the date of the Bonds to the date of maturity. No bid may be conditioned upon award of any other offering of obligations by the City. AWARD The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined by the deduction of the premium, if any, from, or the addition of any amount less than par, to, the total dollar interest on the Bonds from their date to their final scheduled maturity. The City's computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. REGISTRAR The City will name the Registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the Registrar. CUSIP NUMBERS If the Bonds aualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of O'Connor & Hannan of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than 1:00 P.M., Central Time of the day of settlement. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Official Statement did not as of the date of the Official Statement, and does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 25 copies of the Official Statement. Dated June 3, 1986 BY ORDER OF THE CITY COUNCIL /s/ Judith Cox Clerk 3 . The City Clerk is authorized and directed to adver- tise the Bonds for sale in accordance with the foregoing Official Terms of Offering and to cause the abbreviated notice of sale attached hereto as Exhibit "A" to be pub- lished in the manner required by law. The City Council shall meet on Tuesday , July 1 , 1986 , at 7 : 30 o ' clock p.m. , C.T. , for the purpose of considering sealed bids on the Bonds and taking any other appropriate action. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof : and the following voted against the same : whereupon said resolution was declared duly passed and adopted. i 5 Adopted in session of the Shakopee Housing and Redevelopment Authority of the City of Shakopee Minnesota, held this day of 198 • Chairman ATTEST: Executive Director Approved as to form this day of 1986 City Attorney EXHIBIT A NOTICE OF BOND SALE $355 , 000 General Obligation Improvement Bonds Series 1986A City of Shakopee Scott County , Minnesota These Bonds will be offered on Tuesday, July 1 , 1986 . Sealed bids will be accepted by the City Administrator or his designee until 11 : 30 A.M. , C.T. , on said date at the offices of Springsted Incorporated, 85 East Seventh Place , Suite 100 , St . Paul , Minnesota 55102-2143 , when they will be opened. The City Council will meet in the Shakopee City Hall at 7 : 30 P.M. , C.T . , on the same day to consider the bids for award of sale . Dated July 1 , 1986 , the Bonds will bear interest payable semi-annually on each February 1 and August 1 , commencing February 1 , 1987 , and will mature on February 1 in the years and amounts as follows : $ 30 , 000 1988 - 1990 $ 35 , 000 1991 - 1994 $ 40 , 000 1995 - 1996 $ 45 , 000 1997 Bonds maturing after February 1 , 1995 , will be subject to prior redemption in whole or in part on said date and on any interest payment date thereafter at par plus accrued inter- est to date of redemption . No rate of interest nor the net effective rate of the entire issue may exceed the maximum rate permitted by law on the date of sale . Minimum price , $349 , 675 . An approving legal opinion will be furnished by O ' Connor and Hannan, of Minneapolis , Minnesota . The purpose of the Bonds is to finance various assessable public improvements in the City . Bidders should be aware that the Official Terms of Offering to be published in the Official Statement for the Offering may contain additional bidding terms and informa- tion relative to the Issue . In the event of a variance between statements in this Notice of Bond Sale and said Official Terms of Offering , the provisions of the latter shall be those to be complied with. BY ORDER OF THE CITY COUNCIL /s/ Judith Cox City Clerk Dated: June 3 , 1986 Further information may be obtained from the Issuer ' s Finan- cial Advisor ,* SPRINGSTED INCORPORATED, 85 East Seventh Place, Suite .100 , St . Paul , Minnesota 55102-2143 , 612/223- 3000 . Clerk ' s Certificate I , the undersigned, being the duly qualified and acting City Clerk of the City of Shakopee , Minnesota , do hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular or special meeting of the Shakopee City Council held on June 3 , 1986 , with the original thereof on file in my office and I further certify the same is a full , true, and correct copy thereof, insofar as the same relates to the issuance and sale of the City ' s $355 , 000 General Obligation Improvement Bonds , Series 1986A. WITNESS My hand as such City Clerk and the corporate seal of the City this day of 1986 . City Clerk City of Shakopee , Minnesota ( SEAL) Extract of Minutes of Meeting of the City Council of the City of Shakopee , Scott County, Minnesota Pursuant to due call and notice thereof a regular or special meeting of the City Council of the City of Shakopee , Scott County, Minnesota , was held at the Shakopee City Hall on the 3rd day of June , 1986 , commencing at 7 : 30 o ' clock P.M. , C.T. The following Councilmembers were present : and the following were absent : The following resolution was presented by Councilmember who moved its adoption : RESOLUTION NO. 2569 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $500 , 000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1986A BE IT RESOLVED by the City Council of the City of Shakopee , Scott County , Minnesota as follows : 1 . It is hereby determined : (a ) That the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota ( the "Authority" ) , and/or the City have under- taken or will undertake the public improve- ments listed in Exhibit B which is attached to and made a part of this resolution ( the "Improvements" ) within or for the benefit of the Authority ' s Minnesota River Valley Housing and Redevelopment Project No. 1 , pursuant to and in full conformity with Minnesota Sta- tutes , Chapter 462 and Sections 273 . 71 to 273 . 78 , inclusive . (b) That the Authority has requested that the City issue its bonds to provide financing for the. Improvements and that the Authority and the City enter into the tax increment pledge agreement respecting such bonds required by Minnesota Statutes , Section 273 . 77 ( a) . ( c) That it is necessary and expedient to the sound financial management of the affairs of the City and the Authority that the City issue its bonds pursuant to Minnesota Statutes , Chapters 273 and 475 , to provide financing for the Improvements . 2 . The City shall therefore issue and sell its $500 , 000 General Obligation Tax Increment Bonds , Series 1986A ( the "Bonds" ) , to provide financing of the Improve- ments , and $7 , 500 of such amount shall represent additional bonds issued pursuant to Minnesota Statutes , Section 475 . 56 , as additional interest recuired to market the Bonds at this time . The Bonds shall be issued and sold in accordance with the following Official Terms of Offering : OFFICIAL TERMS OF OFFERING $500,000 CITY OF SHAKOPEE, MINNESOTA GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES I"6A Sealed bids for the Bonds will be opened by the City Administrator, or his designee on Tuesday, July I, 1986, at 11:30 A.M., Central Time, at the offices of SPRINGSTED Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101-2143. Consideration for award of the Bonds will be by the City Council at 7:30 P.M., Central Time, of the some day. DETAILS OF THE BONDS The Bonds will be dated July I, 1986, as the date of original issue, and will bear interest payable on February I and August I of each year, commencing February I, 1987. Interest will be computed upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in integral multiples of $5,000 of a single maturity, as requested by the Purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the Registrar and interest on each Bond will be payable by check or draft of the Registrar mailed to the registered holder thereof at his address as it appears on the books of the Registrar as of the 15th of the calendar month next preceding the interest payment. The Bonds will mature February I in the amounts and years as follows: $20,000 1990 $35,000 1993-1994 $45,000 1997 $55,000 1999 $30,000 1991-1992 $40,000 1995-1996 $50,000 1998 $60,000 2000-2001 MANDATORY REDEMPTION In the event that pursuant to federal laws and regulations, the City is required to use unexpended Bond proceeds for early redemption of Bonds in order to continue exemption of the Bonds from ` federal taxation, the City shall use such unexpended Bond proceeds to redeem Bonds on any date I after notice is given pursuant to law. Those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid will be chosen by lot by the Registrar. All such prepayments shall be at a price of 102% plus accrued interest. OPTIONAL REDEMPTION The City may elect on February I, 1995, and on any interest payment date thereafter, to prepay Bonds -due on or after February I, 1996. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge tax increment income from the City's Housing and Redevelopment District # 1 . The proceeds will be used to finance the public costs within the Housing and Redevelopment District # 1. TYPE OF BID A sealed bid for not less than $492,500 and accrued interest on the total principal amount of the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $5,000, payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's Financial Advisor. No bid will be considered for which said check has not been filed. The check of the Purchaser will be retained by the City as liquidated damages in the event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continued to another date without award of the Bonds having been made. Rates offered by Bidders shall be in integral multiples of 5/100 or 1/8 of I%. No rate for any maturity shal I be more than I% lower than any prior rate. Bonds of the some maturity shall bear a single rate from the date of the Bonds to the date of maturity. No bid may be conditioned upon award of any other offering of obligations by the City. AWARD The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined by the deduction of the premium, if any, from, or the addition of any amount less than par, to, the total dollar interest on the Bonds from their date to their final scheduled maturity. The City's computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The City will reserve the right to: (1) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. REGISTRAR The City will name the Registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the Registrar. CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of O'Connor & Hannan of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than 1:00 P.M., Central Time of the day of settlement. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall- be liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Official Statement did not as of the date of the Official Statement, and does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 25 copies of the Official Statement. Dated June 3, 1986 BY ORDER OF THE CITY COUNCIL /s/ Judith Cox Clerk 3 . The City Clerk is authorized and directed to adver- tise the Bonds for sale in accordance with the foregoing Official Terms of Offering and to cause the abbreviated notice of sale attached hereto as Exhibit "A" to be pub- lished in the manner required by law. The City Council shall meet on Tuesday, July 1 , 1986 , at 7 : 30 o ' clock p.m. , C .T. , for the purpose of considering sealed bids on the Bonds and taking any other appropriate action. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taker thereon, the following voted in favor thereof : and the following voted against the same : whereupon said resolution was declared duly passed . and adopted . Adopted in session of the Shakopee Housing and Redevelopment Authority of the City this of Shako ee Minnesota, held I of Mt . Chairman ATTEST: Executive Director Approved as to form this day of i986 City Attorney EXHIBIT A l NOTICE OF BOND SALE J $500 , 000 General Obligation Tax Increment Bonds Series 1986A City of Shakopee Scott County, Minnesota These Bonds will be offered on Tuesday, July 1 , 1986 . Sealed bids will be accepted by the City Administrator or his designee until 11 : 30 A.M. , C.T. , at the offices of Springsted Incorporated, 85 East Seventh Place , Suite 100 , St . Paul , Minnesota 55102-2143 , when they will be opened . The City Council will meet in the Shakopee City Hall at 7 : 30 P.M. , C.T. , on the same day to consider the bids for award of sale . Dated July 1 , 1986 , the Bonds will bear interest payable semi-annually on each February 1 and August 1 , com- mencing February 1 , 1987 , and will mature on February 1 in the years and amounts as follows : $20 , 000 1990 $45 , 000 1997 $30 , 000 1991-1992 $50 , 000 1998 $35 , 000 1993-1994 $55 , 000 1999 $40 , 000 1995-1996 $60 , 000 2000-2001 Bonds maturing after February 1 , 1995 , will be subject to redemption and payment , in whole or in part , on said date and any interest payment date thereafter at par plus accrued interest . No rate of interest nor the net effective rate of the entire issue may exceed the maximum rate permitted by law on the date of sale . Minimum price, $492 , 500 . An approving legal opinion will be furnished by O' Connor & Hannan, of Minneapolis , Minnesota . The purpose of the Bonds is to finance public improvement costs associated with the Minnesota River Valley Housing and Redevelopment Project No . 1 of the Shakopee Housing and Redevelopment Authority. Bidders should be aware that the Official Terms of Offering to be published in the Official Statement for the Offering may contain additional bidding terms and informa- tion relative to the Issue . In the event of a variance between statements in this Notice of Bond Sale and said Official Terms of Offering , the provisions of the latter shall be those to be complied with. BY ORDER OF .THE CITY COUNCIL /s/ Judith Cox City Clerk Dated : June 3 , 1986 Further information may be obtained from the Issuer ' s Finan- cial Advisor , SPRINGSTED INCORPORATED, 85 East Seventh Place , Suite 100 , St . Paul , Minnesota 55102-2143 , 612/223- 3000 . EXHIBIT B $500,000 General Obligation Tax Increment Bonds, Series 1986A, of the City of Shakopee, Minnesota Shakopee Valley Motel Project Land Acquisition $330,000 Street Improvements 64,000 Contingency 30,000 Issuance Costs 13,050 Discount 7,500 Capitalized Interest 57,396 $501,946 Less Investment Earnings 1,946 TOTAL BOND ISSUE $500,000 Clerk ' s Certificate I , the undersigned, being the duly qualified and acting City Clerk of the City of Shakopee , Minnesota, do hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular or special meeting of the Shakopee City Council held on June 3 , 1986 , with the original thereof on file in my office and I further certify the same is a full , true , and correct copy thereof , insofar as the same relates to the issuance and sale of the City ' s $500 , 000 General Obligation Tax Increment Bonds , Series 1986A. WITNESS My hand as such City Clerk and the corporate seal of the City this day of 1986 . City Clerk City of Shakopee , Minnesota ( SEAL) Extract of Minutes of Meeting of the City Council of the City of Shakopee , Scott County, Minnesota Pursuant to due call and notice thereof a regular or special meeting of the City Council of the City of Shakopee , Scott County, Minnesota, was held at the Shakopee City Hall on the 3rd day of June , 1986 , commencing at 7 : 30 o ' clock P.M. , C.T. The following Councilmembers were present : and the following were absent : The following resolution was presented by Councilmember who moved its adoption : RESOLUTION NO. 2570 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $1 , 645 , 000 GENERAL OBLIGATION TAX INCREMENT BONDS , SERIES 1986B BE IT RESOLVED by the City Council of the City of Shakopee , Scott County , Minnesota as follows : 1 . It is hereby determined : (a ) That the Housing and Redevelopment Authority in and for the City of Shakopee , Minnesota ( the "Authority" ) , and/or the City have under- taken or will undertake the public improve- ments listed in Exhibit B which is attached to and made a part of this resolution ( the "Improvements" ) within or for the benefit of the Authority ' s Minnesota River Valley Housing and Redevelopment Project No. 1 , pursuant to and in full conformity with Minnesota Sta- tutes , Chapter 462 and Sections 273 . 71 to 273 . 78 , inclusive . (b) That the Authority has requested that the City issue its bonds to provide financing for the Improvements and that the Authority and the City enter into the tax increment pledge agreement respecting such bonds required by Minnesota Statutes , Section 273 . 77 ( a ) . ( c) That it is necessary and expedient to the sound financial management of the affairs of the City and the Authority that the City issue its bonds pursuant to Minnesota Statutes , Chapters 273 and 475 , to provide financing for the Improvements . 2 . The City shall therefore issue and sell its $1 , 645 , 000 General Obligation Tax Increment Bonds , Series 19863 ( the "Bonds" ) , to provide financing of the Improve- ments , and $24 , 675 of such amount shall represent additional bonds issued pursuant to Minnesota Statutes , Section 475 . 56 , as additional interest required to market the Bonds at this time . The Bonds shall be issued and sold in accordance with the following Official Terms of Offering : OFFICIAL TERMS OF OFFERING $1,645,000 CITY OF SHAKOPEE, MINNESOTA GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1986E Sealed bids for the Bonds will be opened by the City Administrator, or his designee on Tuesday, July I, 1986, at 11:30 A.M., Central Time, at the offices of SPRINGSTED Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101-2143. Consideration for award of the Bonds will be by the City Council at 7:30 P.M., Central Time, of the some day. DETAILS OF THE BONDS ,The Bonds will be dated July I, 1986, as the date of original issue, and will bear interest payable on February I and August I of each year, commencing February 1, 1987. Interest will be computed upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the MSRB. The Bonds will be issued in integral multiples of $5,000 of a single maturity, as requested by the Purchaser, and fully registered as to principal and interest. Principal will be payable at the main corporate office of the Registrar and interest on each Bond will be payable by check or draft of the Registrar mailed to the registered holder thereof at his address as it appears on the books of the Registrar as of the 15th of the calendar month next preceding the interest payment. The Bonds will mature February I in the amounts and years as follows: $ 85,000 1989 $105,000 1993 $130,000 1996 $160,000 1 ,00/0 $ 90,000 1990-1991 $115,000 1994 $ 140,000 1997 $175,000 2000 $ 100,000 1992 $120,000 1995 $150,000 1998 $ 185,000 2001 MANDATORY REDEMPTION In the event that pursuant to federal laws and regulations, the City is required to use unexpended Bond proceeds for early redemption of Bonds in order to continue exemption of the Bonds from federal taxation, the City shall use such unexpended Bond proceeds to redeem Bonds on any date after notice is given pursuant to law. Those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid will be chosen by lot by the Registrar. All such prepayments shall be at a price of 102% plus accrued interest. OPTIONAL REDEMPTION The City may elect on February 1, 1995, and on any interest payment date thereafter, to prepay Bonds due on or after February I, 1996. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. All prepayments shall be at a price of par and accrued interest. SECURITY AND PURPOSE The Bonds will be general obligations of the City for which the City will pledge its full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge tax increment income from the City's Housing and Redevelopment District # 1 . The proceeds will be used to finance the public costs within the Housing and Redevelopment District #1. .5 TYPE OF BID A sealed bid for not less than $1 ,620,325 and accrued interest on the total principal amount of the Bonds shall be filed with the undersigned prior to the time set for the opening of bids. Also prior to the time set for bid opening, a certified or cashier's check in the amount of $16,450, payable to the order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's Financial Advisor. No bid will be considered for which said check has not been filed. The check of the Purchaser will be retained by the City as liquidated damages in the event the Purchaser fails to comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids, unless the meeting of the City scheduled for consideration of the bids is adjourned, recessed, or continued to another date without award of the Bonds having been made. Rates offered by Bidders shall be in integral multiples of 5/100 or 1/8 of 1%. No rate for any maturity shall be more than 1% lower than any prior rate. Bonds of the some maturity shall bear a single rate from the date of the Bonds to the date of maturity. No bid may be conditioned upon award of any other offering of obligations by the City. AWARD The Bonds will be awarded to the Bidder offering the lowest dollar interest cost to be determined by the deduction of the premium, if any, from, or the addition of any amount less than par, to, the total dollar interest on the Bonds from their date to their final scheduled maturity. The City's computation of the total net dollar interest cost of each bid, in accordance with customary practice, will be controlling. The City will reserve the right to: (i) waive non-substantive informalities of any bid or of matters relating to the receipt of bids and award of the Bonds, (ii) reject all bids without cause, and, (iii) reject any bid which the City determines to have failed to comply with the terms herein. REGISTRAR The City will name the Registrar which shall be subject to applicable SEC regulations. The City will pay for the services of the Registrar. CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT Within 40 days following the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of O'Connor & Hannan of Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no-litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than 1:00 P.M., Central Time of the day of settlement. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Official Statement did not as of the date of the Official Statement, and does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 25 copies of• the Official Statement. Dated June 3, 1986 BY ORDER OF THE CITY COUNCIL /s/ Judith Cox Clerk 3 . The City Clerk is authorized and directed to adver- tise the Bonds for sale in accordance with the foregoing Official Terms of Offering and to cause the abbreviated notice of sale attached hereto as Exhibit "A" to be pub- lished in the manner required by law. The City Council shall meet on Tuesday , July 1 , 1986 , at 7 : 30 o ' clock p.m. , C .T. , for the purpose of considering sealed bids on the Bonds and taking any other appropriate action . The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof : and the following voted against the same : whereupon said resolution was declared duly passed and adopted . Adopted in session of the Shakopee Housing and Redevelopment Authority of the City of Shakopee Minnesota, held this day of 198 . Chairman ATTEST: Executive Direczor Approved as to form this day of 1986 City Attorney EXHIBIT A / NOTICE OF BOND SALE �5 $1 , 645 , 000 General Obligation Tax Increment Bonds Series 1986B City of Shakopee Scott County, Minnesota These Bonds will be offered on Tuesday, July 1 , 1986 . Sealed bids will be accepted by the City Administrator or his designee until 11 : 30 A.M. , C .T. , at the offices of Springsted Incorporated , 85 East Seventh Place , Suite 100 , St . Paul , Minnesota 55102-2143 , when they will be opened . The City Council will meet in the Shakopee City Hall at 7 : 30 P.M. , C.T. , on the same day to consider the bids for award of sale . Dated July 1 , 1986 , the Bonds will bear interest payable semi-annually on each February 1 and August 1 , com- mencing February 1 , 1987 , and will mature on February 1 in the years and amounts as follows : $ 85 , 000 1989 $130 , 000 1996 $ 90 , 000 1990-1991 $140 , 000 1997 $100 , 000 1992 $150 , 000 1998 $105 , 000 1993 $160 , 000 1999 $115 , 000 1994 $175 , 000 2000 $120 , 000 1995 $185 , 000 2001 Bonds maturing after February 1 , 1995 , will be subject to redemption and payment , in whole or in part , on said date and any interest payment date thereafter at par plus accrued interest . No rate of interest nor the net effective rate of the entire issue may exceed the maximum rate permitted by law on the date of sale . Minimum price , $1 , 620 , 325 . An approving legal opinion will be furnished by O' Connor & Hannan, of Minneapolis , Minnesota . The purpose of the Bonds is to finance public improvement costs associated with the Minnesota River Valley Housing and Redevelopment Project No. 1 of the Shakopee Housing and Redevelopment Authority. Bidders should be aware that the Official Terms of Offering to be published in the Official Statement for the Offering may contain additional bidding terms and informa- tion relative to the Issue . In the event of a variance between statements in this Notice of Bond Sale and said Official Terms of Offering , the provisions of the latter shall be those to be complied with . BY ORDER OF THE CITY COUNCIL /s/ Judith Cox City Clerk Dated: June 3 , 1986 Further information may be obtained from the Issuer ' s Finan- cial Advisor , SPRINGSTED INCORPORATED, 85 East Seventh Place , Suite 100 , St . Paul , Minnesota 55102-2143 , 612/223- 3000 . J EXHIBIT B $1,645,000 General Obligation Tax Increment Bonds, Series 1986B, of the City of Shakopee, Minnesota Holmes Street Second Avenue Second Avenue Bridge Environmental Storm Sewer Parking Lot Parking Lot Assessment Worksheet (#86-1 ) (#85-4) Landscaping (#86-7 ) construction 941 ,250 133,000 33,000 engineering 167,350 24,000 61000 158,200 admin/Legal 20,700 2,700 700 5,000 :ontingency 94,125 13,300 3,300 $1,223,425 $173,300 $43,000 $163,200 Total Project Cost $1,602,625 Issuance Costs 22,500 Discount 24,675 $1,649,800 Less Investment Earnings 4,800 TOTAL BOND ISSUE $1,645,000 Clerk ' s Certificate I , the undersigned, being the duly qualified and acting City Clerk of the City of Shakopee, Minnesota, do hereby certify that I have carefully compared the attached and foregoing extract of minutes of a regular or special meeting of the Shakopee City Council held on June 3 , 1986 , with the original thereof on file in my office and I further certify the same is a full , true , and correct copy thereof , insofar as the same relates to the issuance and sale of the City ' s $1 , 645 , 000 General Obligation Tax Increment Bonds , Series 1986B . WITNESS My hand as such City Clerk and the corporate seal of the City this day of 1986 . City Clerk City of Shakopee , Minnesota ( SEAL) MEMO TO: Shakopee Housing and Redevelopment Authority (HRA) FROM: Barry A. Stock, Administrative Aide RE: Acquisition of the Opera House - 105 E. First Ave. DATE: May 29 , 1986 Introduction• Ms. Deloris Hoy, owner of the Opera House is interested in selling her property to the City. (See Attachment #1) Ms. Hoy is listing her property $175 , 000 . She has however, stated that the price is negotiable. Background: The property in question includes both the Opera House and the adjacent building (Jabberwocky) form First Avenue to the alley. ( 75 feet of First Avenue frontage) The Ries building is listed on the National Registrar of Historical Places. According to the Minnesota Historical Society, the building could be demolished by the property owner if they so desire. If the City became the owner, we could also demolish the building as long as Federal dollars are not used in the acquisition or demolition phases. The Historical Society has commented that they would frown on the City' s demolition of the building. With this in mind, I have talked to Ms. Hoy and she has stated that she would be willing to demolish the building on her own account. However, she would tag on the demolition cost to her asking price. This approach could save the City money in terms of administrative time spent on the project as well as maintaining good public relations with the Historical Society. In my conversation with the Historical Society, I have discovered that there is a 20% investment tax credit available for cost incurred in renovating historical buildings. This incentive combined with the Housing and Urban Development Rental Rehabilitation Grant Program (which provides up to 50% of eligible rehab cost in rental units up to a maximum grant of $5 , 000 per unit) might provide incentive for private developers to pursue renovation of the site in question on their own initiative. While Ms. Hoy has no firm offer for the property at this time, she has stated that at least one developer is interested in renovating the structure. She intends to formally list the property within the month and expects the property to sell fairly quickly at her proposed asking price. On September 18 , 1984 , the City Building Inspector posted the building at 105 E. First Avenue as Unfit for Human Occupancy. Until such time that the code violations are abated by repair, rehabilitation or demolition, the building will remain posted as unsafe for human occupancy. The estimated cost to correct the code violations range from $25, 000 to $50 , 000 . The viable alternatives in regard to Ms. Hoy' s property are as follows: Alternative #1 - Ms. Hoy demolish the structure and sell the property to the City, who would in turn solicit development proposals from private parties for the property. Estimated Net City Cost: A. If property is sold $123 , 975-$148 , 875 B. If property is kept $179 , 000-$204, 000 (See attachment #2 for cost breakdown) Alternative #2 - City purchase the property and sell it as it presently exists to a developer on a developers agreement basis. Estimated Net City Cost: A. If property is sold $104 , 475-$129, 475 B. If property is kept $159 , 600-$184 , 600 (See attachment #2 for cost breakdowns ) Alternative #3 - Do nothing - let private developers pursue development or redevelopment of the property on their own initiative and assist them in acquiring funds from grant and loan programs and the investment tax credit program. Net City Cost - $0 On May 28 , 1986 staff presented the aforementioned alternatives to the Downtown Committee for their consideration. At that time, staff suggested that acquisition of the property would be premature in light of the fact that the City does not have a plan identifying the City' s role in terms of acquisition/demo- lition, rehabilitation and/or relocation of blighted buildings in the downtown area. Additionally, staff pointed out that there are several other buildings in the downtown area that are not in much better condition than the Opera House This fact suggests that the City may be setting precedent for a role that they may be forced to carry on in the future if acquisition is pursued. The Downtown Committee felt that the acquisition/demolition of this building would play a key role in redevelopment of the downtown area. The Committee also felt that this building was an exception to the rule ( in terms of acquisition) because of c� its size, location and condition. Finally, the Committee felt that the City had to play a more active role in creating redevelop- ment opportunities in the downtown area. With this in mind, the Committee moved to recommend to City Council that an appraisal be ordered for the property with the intent to negotiate a price for the City' s acquisition. Alternatives : 1. Order an appraisal of the property at a cost not to exceed $2 , 000 . 2. Do not order an appraisal of the property. Staff Recommendation: Staff recommends alternative #1. (The recommendation of the Downtown Committee) Action Requested: Move to order an appraisal of the property at 105 E. First Ave. at a cost not to exceed $2, 000 and inform Ms. Hoy that the City is interested in acquisition of the property. Attachments T Jt� SJ� GAY� J�I .�ll ZO• ZS� ZO� S�/ _ �� n ol,acwA,, P,{,ki°3l yt Z 1� P�lo`, y kd K tc .y I CII) at -57,kilfeN I E i I Attachment #2 Cost Breakdown of Proposed Alternatives Alternative #1 - Ms. Hoy demolish structures and sell property to the City who in turn sell it to a developer on a developers agreement basis. 1. Demolition/Excavation - $25 , 000 2 . Land Acquisition - $150 , 000 - $175 , 000 3 . Appraisal Costs - $2 , 000 4 . City Admin. /Legal - $2 , 000 Total Project Cost $179, 000 - $204 , 000 Expected Resale Value $ 55 , 125 ( 10 , 500 sq. ft. @ $5 . 25 sq. ft. ) Net City Cost $123 , 975 - $148, 875 Alternative #2 - City purchase the property and sell it as it exists to a developer on a developers agreement basis . 1. Land Acquisition - $150 , 000 - $175 , 000 2 . City Admin/Legal - $ 2 , 000 3 . Appraisal Costs - $ 2, 000 4 . Realtor Fees - $ 3 , 800 5 . Points - $ 1, 800 Total Project Cost $159, 600 - $184, 600 Expected Resale Value $55 , 125 Net City Cost $104, 475 - $129, 475 6 3�7� kAZ 4t,+ as�y r CITY OF SHAKOPEE, MINNESOTA PREPARED JUNE 3, 1986 TAX INCREMENT BOND, SERIES 1984A BY SPRINGSTED INCORPORATED REFUMDING FEASIBILITY SCHEDULE A DATED: 7/15/1986 CLOSING: 7/15/1986 MATURE: 2/ 1 7.00% FRONT ANNUAL FRONT EXISTING MONEY ANNUAL LEVY PAY PRINCIPAL INTEREST MONEY TOTAL DEBT RECOVERY SAVINGS (1) (2) (3) (4) (5) (6) (7) (8) (9) FRONT MONEY REQUIRED:* 299,278 299,278 299,278- 0 1985 1987 0 80,224 80,224 293,623 213,399 0 1986 1988 60,000 147,350 207,350 295,853 85,879 2,624 1987 1989 155,000 143, 150 298,150 296,998 0 1,152- 1988 1990 165,000 132,300 297,300 296,998 0 302- 1989 1991 175,000 120,750 295,750 295,860 0 110 1990 1992 190,000 108,500 298,500 298,535 0 35 1991 1993 205,000 95,200 300,200 299,535 0 665- 1992 1994 215,000 80,850 295,850 298,785 0 2,935 1993 1995 235,000 65,800 300,800 301,305 0 505 1994 1996 250,000 49,350 299,350 296,565 0 2,785- 1995 1997 265,000 31,850 296,850 300, 190 0 3,340 1996 1998 190,000 13,300 203,300 296,190 0 92,890 TOTALS: $2,105,000 $1,068,624 $299,278 $3,472,902 $3,570,437 $0 $97,535 LESS OUTSTANDING PRIN: $2, 105,000- *FRONT MONEY REQUIRED PLUS F.M. FOR NEW DEBT: 213,350 LESS ACC. INT. TO CLOS: 85,928- FOR NEW DEBT: 213,350 --------- --------- FOR EXISTING DEBT: 85,928 NET EFFECT. INT. COST: $1,281,974 NET EFFECT. INT. COST: $1,379,509 NET SAVINGS: $97,535 AS A PERCENT OF INTEREST: 7.07` BOND YEARS: 15,266 BOND YEARS: 14,851 AVERAGE MATURITY: 7.25 AVERAGE MATURITY: 7.06 N.I.C. (DISCOUNT = 32,000) 7.21% N.I.C. : 9.29% i OFFICIAL STATEMENT $2,490,000 CITY OF SHAKOPEE, MINNESOTA GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1984A Introductory Statement This Official Statement provides information concerning the issuance of $2,490,000 General Obligation Tax Increment Bonds, Series 1984A (the "Bonds" or the "Issue"), by the City of Shakopee, Minnesota (the "City"). The Bonds are issued pursuant to Chapters 273 and 475, Minnesota Statutes, for the purpose of financing off-site improvements for a new $71.3 million horse racing facility being constructed in the City. The track will be the first to be built in the State, and, by law, is the only facility licensed to be built in the Minneapolis/Saint Paul seven-county metropolitan area. The Bonds are general obligations of the City for which the City pledges its full faith and credit and power to levy direct general ad valorem taxes without limit as to rate or amount. In addition, the City pledges partial tax increment income from its Tax Increment Financing District I/I in the City. Details regarding the purpose and security of the Bonds are set forth below. Purpose Pursuant to a contract entered into by the City, the Shakopee Housing and Redevelopment Authority (the "HRA"), and Minnesota Racetrack, Inc. (the "Developer"), the City pledged to construct certain off-site improvements neces- sary for the construction and operation of the new racetrack. Proceeds of this Issue will finance the construction of these improvements which consist of street improvements and railroad grade crossings. These are public improvements which will also benefit the area in and around Valley Industrial Park, adjacent to the racetrack site. The racetrack area is currently served by all utilities. Although the racetrack site has been designated Tax Increment Financing District 44 ("TIF District t4"), the City is not pledging tax increment income from that District for the payment of these bonds. Within the next 60 to 90 days, the City anticipates issuing $6,000,000 of additional tax increment bonds to finance on-site improvements to the racetrack site. Tax increment income from TIF District P4 is expected to be pledged to the payment of the $6,000,000 issue. Security and Financing The Bonds are general obligations of the City for which the City pledges its full faith and credit and power to levy direct general ad valorem taxes without limit as to rate or amount. In addition, the City pledges tax increment income from Tax Increment Financing District 1/ 1 ("TIF District // I"), which is the site of a $16 million K mart Corporation distribution center, completed in 1981, as well as several other developments. A tax levy is not expected to be required for payment of the Bonds. - I- CITY OF SHAKOPEE, MINNESOTA PREPARED JUNE 3, 1986 IMPROVEMENT BONDS OF 1981, SERIES A BY SPRINGSTED INCORPORATED REFUNDING FEASIBILITY SCHEDULE B DATED: 7/15/1986 CLOSING: 7/15/1986 MATURE: 2/ 1 6.00% FRONT ANNUAL FRONT EXISTING MONEY ANNUAL LEVY PAY PRINCIPAL INTEREST MONEY TOTAL DEBT RECOVERY SAVINGS (1) (2) (3) (4) (5) (6) (7) (8) (9) FRONT MONEY REQUIRED:* 69,752 69,752 69,752- 0 1985 1987 60,000 18,293 78,293 149,280 69,752 1,235 1986 1988 110,000 30,000 140,000 140,540 0 540 1987 1989 105,000 23,400 128,400 131,610 0 3,210 1988 1990 110,000 17,100 127,100 122,490 0 4,610- 1989 1991 95,000 10,500 105,500 108, 180 0 2,680 1990 1992 80,000 4,800 84,800 99,180 0 14,380 TOTALS: $560,000 $104,093 $69,752 $733,845 $751,280 $0 $17,435 LESS OUTSTANDING PRIN: $560,000- *FRONT MONEY REQUIRED PLUS F.M. FOR NEW DEBT: 45,024 LESS ACC. INT. TO CLOS: 24,728- FOR NEW DEBT: 45,024 --------- --------- FOR EXISTING DEBT: 24,728 NET EFFECT. INT. COST: $149,117 NET EFFECT. INT. COST: $166,552 NET SAVINGS: $17,435 AS A PERCENT OF INTEREST: 10.47 BOND YEARS: 1,735 BOND YEARS: 1,685 AVERAGE MATURITY: 3.10 AVERAGE MATURITY: 3.01 N. I .C. (DISCOUNT = 6,000) 6.35% N. I.C. : 9.88% CfrrENZt INFO ITEM MINNESOTA -.,�; iN < Department of Ener;y and Economic Development Cnmmunitv De%c!c�-.ment Division 00�',).7mencan Center ,ub-50�--5 150 East Kello— boulevard St. Pau;, Minnesota 55101 May 30, 1986 The Honorable Eldon Reinke Mayor 129 East First Avenue Shakopee, MN 55379 RE: 11-05-86CO, Merchant's Hotel City of Shakopee Dear Mayor Reinke: The Department of Energy and Economic Development has completed its review of applications for the 1986 Minnesota Small Cities Development Grant program. Because we have a limited amount of grant funds available, we are not able to offer you a grant this year. Because of the further reduction in the federal appropriation, funds were sufficient to finance only 17 comprehensive applications scoring 156.3 points or higher. Your application received a score of 79.6. In all, we received 33 comprehensive applications. We expect to make additional grant awards from 1987 funds in the spring of 1967. Information about application procedures and technical assistance workshops will be available late this summer. If you would like to discuss your application and ways to improve it f.or next year's competition, please feel free to call one of our community development representatives at (612) 296-2102. Sinc-rely, �ouis F. Jambois Acting Director Small Cities Development Program /pb GAS/6-CP AN EQUAL OPPORTUNITY EMPLOYER J0 ) DON D. MARTIN SCOTT COUNTY ASSESSOR, '-,P r'__ COURT HOUSE 112 SHAKOPEE, MN 55379--1381 (612) -445-7750 , Ext . 115 MEMORANDUM: Date : May 21 , 1986 To: 1986 Shakopee Board of Review From: Robert N. Schmitt , Scott County Assessor 's Office ►�_ Subject : Assessor' s Report on the 1986 Assessment of the City of Shakopee The 1986 assessment of Shakopee began in August of 1985 and was completed in May of 1966. The work involved inspecting 357 new structures and 101 partial completions from the 1985 assessment . Of the 357 building permits issued, 25% were for residential construction , 30% were for industrial and commercial properties , and the remainder were for agricultural and exempt properties . I completed the field inspections as well as the computations of the 1986 estimated market values (EMU's) . The 25% reassessment involved the following plats: Original Plat of Shakopee , Plat of East Shakopee , Nehl ' s Addition , American Legion Addition , Macey's 1st Addition , West View 3rd, 4th , and 5th Additions , Registered Land Surveys 24 , 45, 66, and 89 , Killarney Hills, Valley Park 1st and 4th Additions , Horizon Heights 2nd and 3rd Additions, Marceline' s 1st , Valley Rich Ist , Case 1st , Link's 3rd, and A&G 1 st Addition . During the reassessment , errors in measurements were discovered and corrected. The most glaring error was a miscalculation of an industrial building which resulted in the property being assessed for half the square footage which the building contained . BNS/dah DUN D . MARTIN SCOTT COUNTY ASSESSOR COURT HOUSE 112 SHAKOPEE, MN 55379-1351 -; 612? -445-7750 , Ext . 115 MEMORANDUM: Date : May 27, 1986 To: 1956 Shakopee Board of Review From: Robert N. Schmitt , Scott County Assessor ` s Office Property Owner : John L. Ries Property Address : 441 lst Ave. W. P I D# : 27 001 090 0 1 . T;� pe & Description of Property : This property currently is occupied by Total Rental. The Structure was built in 1960 and is a concrete block building of 5720 square feetp with a full basement. The interior is plain with the floors, sus- pended ceiling, and painted block walls. The roof is flat. 2 . Deck or Patio: No 3. Garage Description : None 4 . O t h e r : An Asphalt parking lot of app roimately 12,000 square f eet. 5. Total Structural Value : $97,200 6. Lot Size : 31,240 square feet on lst Ave. 7 . Lot Value : $ 2.23/sq. ft. _ $ 699800 5 . Total Estimated Market Value of Property : $ 1679000 9 . Other Informat i on on Assessment Previous years value was $ 159,000. This parcel received a 5% increase as did all comm- ercial properties in the City of Shakopee for the 1986 Assessment. DWELLING year builtPARCEL NO. CIL X sq. It. story height no. rooms no. baths no. bedrooms - basement percent basement fin. fireplace walkout deck central air l brick trim ,Y porch Lot Size X GARAGE X attached yes no z_ s y _ OBSERVED CONDITION: exc. `� k goodtr '— fair poor GRADE 3C / DON D. MARTIN SCOTT COUNTY ASSESSOR COURT HOUSE 112 SHAKOPEE, MN 55379-1381 (612) -445-7750 , Ext . 115 MEMORANDUM: Date : May 27, 1986 To: 1986 Shakopee Board of Review From: Robert N. Schmitt , Scott County Assessor's Office Property Owner : John L. & Lorraine A. Ries Property Address: 403 W. lst Avenue PID#: 27 001 091 0 1 . Type & Description of Property: Commercial property used to house Champion Auto and lst Avenue Cleaners as well as Major Muff- ler. The building was constructed in 1966 with an addition in 1969. It is a concrete block structure with a flat roof and a partial base- ment. The interior is plain with the floors, panelling, and sus- pended ceiling. It has a total area of 12,850 square feet. The parking area which asphalt covers is 3278 square feet. 2. Deck or Patio: None 3. Czar age De sc r i p t i on : 1296 square feet in the rear of Champion Auto Store. Muffler shop uses this area. 4 . Other : 5. Total Structural value : $ 1749600 6. Lot Size : 17,040 square feet 7. Lot Value : $ 2.23 sq. ft. = $ 38,000 8 . Total Estimated Market Value of Property : $ 212,600 9. Other Information on Assessment This property again received the 5% increase which was given to all commercial property in Shakopee as part of the 1986 Assessment. Previous value on this property was $ 202,500. I i T DWELLING year built i ' PARCEL NO. X sq. ft. o- :- y J story height no. rooms no. baths a - no. bedrooms basement percent basement fin. fireplace walkout deck central air r brick trim * g porch Lot Sire _X___ _ _- GARAGE_X__ —_ y attached yes no OBSERVED CONDITION: . exc good fair poor LUE —_.._. GRADE ,._ . sm DOCS! D . MARTIN SCOTT COUNTY ASSESSOR COURT HOUSE 112 SHAKOPEE, MN 55379-1381 (612) -445-7750 , Ext . 115 MEMORANDUM: Date : May 27, 1986 To: 1986 Shakopee Board of Review From: Robert N. Schmitt , Scott County Assessor ' s Office Property Owner : John L. Ries Property Address: 220 W. 3rd Avenue PIU# : 27 001 336 0 1 . Type &- Description of Property : This is a residential home use by Mr. & Mrs. Ries as their homestead. It is a rambler which was constructed in 1963 and has 1970 square feet on the main floor. The basement is full and has a fair finished area of approximately 1770 sq. ft. The bathrooms in the home consist of 1 full bath, 2 3/4 baths, 1 2 bath and a sauna. There are 2 fireplaces, central air, a concrete patio, and some brick trim on the exterior. The garage is attached and is 20' x 221 in size. The home is classified as a 62 grade (slightly above average) . The discount in grade is due to the proximity of a grade school and church and the subsequent traffic caused by these institutions. 2. Deck or Pat i o : Yes 3 . Gar age De sc r i p t i on : 20 x 22 attached 4 . Other : 5 . Total Structural Val ue : $86,400 6. Lot Size : 90 x 142(12 lots) 7. Lot Value- $ 199100 8. Total Estimated Market Value of Property : $ 105,500 9. Other Infor-ma t i on on A=ssessment The previous value on this property was $102,900. DWELLING year built w PARCEL NO. X sq. It story height no. rooms no. baths no. bedrooms - basement percent basement fin. fireplace x _--- ' walkout deck i_ central air brick trim perch ' Lot Size X GARAGE - X attached yes no OBSERVED CONDITION: exc. good fair poor G DON D. MARTIN SCOTT COUNTY ASSESSOR COURT HOUSE 112 SHAKOPEE, MN 55379-1381 (612) -445-7750 , Ext . 115 MEMORANDUM: Date : May 27, 1956 To: 1 ?86 Shakopee Board of Review From: Robert N. Schmitt , Scott County Assessor ' s Office Property Own er• : Joseph F. Sullivan Property Address: 120 E. 1st Ave. PID#: 27 001 170 1 1 . Type & Description of Property: This is the commercial portion of the above property. The building houses Tech T.V. and a woodworking store. The building was built in the 1890's with a stone foundation and brick exterior. The lst floor was remodeled in 1955. The remodeling consisted of new sheet rock, new carpeting, and new trim in the woodworking store. The building has 5282 sq. ft. with a partial basement, (30%) . Rent for the commercial business should be approximately $ 4.50 per sq. ft. which would equate to a value of $ 110,900 using a Gross Rent Multiplier of 6.99. With a 75% ratio for tax purposes the value would calculate to $53,200. 2 . Deck or Patio: 3 . Garage Description : 4 . Other : 5. Total Structural Value : $ 52,600 (Commercial pertion only) 6 . Lot Size : 39 x 142 7 . Lot VA-I u : $ 8300 (Commercial portion only) 8. Total Estimated Market Value of Property: 60,900 (Comm. only) 9. Other Information on Assessment The value of the remodeling for the downstairs portion was placed at $4900- for this assessment. The property sold in March, 1981 to Mr. Sullivan for $173,000 on a Contract for Deed. This is equivalent to approximately $1407400 as of that date in terms of cash. Rents used for the income were affec- tive as of September, 1984, and therefore may be on the conservative side. is 3 DWELLING year built ( g R O PARCEL NO.L. 0 _� _X_sq. ft. d. 3 H O K story height no. rooms -----— no. baths I Lo Fl'A no. bedrooms basement percent basement fin. j fireplace walkout t:r deck central air brick trim - porch Lot Size X -` - - s GARAGE X attached yes no OBSERVED CONDITION: ' good fair poor LUE GRADE 3cId 3 DON D . MARTIN SCOTT COUNTY ASSESSOR COURT HOUSE 1 1 2 =;HAKOPEE, MN 55379-1351 (6127 -445-7750 , Ext . 115 MEMORANDUM: Date : May 27, 1986 To: 1956 Shakopee Board of Review From: Robert N. Schmitt , Scott County Assessor' s Office Property Owner : Dean Shaner Property Address: 2121 Hillside Drive PID# : 27 082 009 0 1 . Type & Description of Property: This property has a 1 story residential home located on it which was built in 1985 - 86. The home is 1328 square feet. The property was inspected on December 31, 1985 for comple- tion and estimated to be 3G% complete with the garage being 50% complete. The home was framed, roof was on but not shi- gled, floors were laid, wiring was roughed-in, plumbing was roughed-in, and the windows were in. According to the Partial Construction Report list which our office uses, the home was roughly 38o complete. The owner moved into the home prior to June lst, 1986 and thus received a 2 - year homestead. Deck or Patio: . Gar age De sc r i p t i on : Attached, 26 x 30. 4 . Other : 5 . Total Structural Value : $ 19,400 at a partial completion 6 . Lot Size : 2.40 Acres 7. Lot Value : $22,100 S. Total Est imated Market Val ue of Property: $419500 9 . 0 t h e r Informat i on on Assessment Mr. Shaner paid $ 20,500 for the lot. This was before a well was dug or a septic system was put in. The property was appraised at 30% complete rather than 38% to place the value on the conservative level for the lst year. f PARTIAL CONSTRUCTION r SPECTION REPORT LE►J� DATE � z o8Z RESS 2- 1 2 1 1bf 11 �� �-�-�p a CONTRACTOR " TEL. N0. �( ITEM TO CUMULATIVE INSPECTION TOTAL COST PERCENTAGE NATURE OF WORK 2 2 Excavation 4 Forms set ® 7 Foundation and/or Blocks ® 9 Joists set ` ® 11 Subfloor •�(� 17 Framed i ' I 21 Sheathed 25 Roof shingle 0 27 Windows set ' 5 32 Siding on 5 37 Chimney and Fireplace `= - 7 44 Furnace set and connected r, ® 50 Plumbing roughed in , 52Wiring roughed in V.5 52.5 Insulated 2 54.5 Lathed ) 5 59.5 Plastered ) 6) 62.5 Floors laid 5 67,5 Interior Trim and Cabinets 2 69.5 Doors hung 2 71.5_ Water and Sewer connected 73.5 Basement Floor 2 75.5 Wiring finished 3 75.5 Plumbing fixtures 2 80,5 Linoleum laid 2 82,5 Exterior Concrete Work 3 85.5 Outside Painting 2 87.5 -Driveway 4 91.5 Interior Decorating 1 92.5 Finish Hardware 0.5 93 Floors finished 7 100 Extra and Misc. C-COMPLETE M-MATERIALS ON HAND i* 's'—PROGRESS INSPECTOR'S i PERMIT 11 ` _ DATE ISSUED ��Z $ INITIAL PLATE NO. -107- i **RESIDENTIAL PROPERTIES** PERMIT NO. a SCOTT COUNTY ASSESSOR COURT HOUSE 112 ISSUED FOR SHAKOPEE, MN. 56379 (612}446.7750, Ext. »s NAME =_ ADDRESS Z 1' -LAJ�,L n LOT ` _BLOCK___L _ADDITION PARCEL # LEGAL DESCRIPTION DATE OF LAST APPRAISAL TYPE: SPLIT (E or L) RAMBLER 1} STORY 2 STORY Porches Open Foyer x Brick Trim Closed 3 Season Breezeway—x— Year Built ;` - Grade_ ROOF BASEMENT OR LOWER LEVEL EXTRAS Gable Fu11—�—Partial None Air Cond. Hipp—� # of bedrooms Fireplaces Flat Bath F } 3/4 Sunken Room Gambrel Family Room Bay Window Mansard Fireplace Utility Rm Sauna SHINGLES Other Wet Bar Walkout Asphalt�y,'_ Type of Heat 1=,} Deck x Wood Patio x Roll Com Type of Floors Comp. Fence (Redwood) Other Type of Walls (Ch. Link) Type of Ceiling Shed x FOUNDATION Tennis Court Block % Bsmt Completed Swimming Pool Poured Extra Kitchen other MAIN FLOOR Kitchen OTHER COMMENTS EXTERIOR FIN. Dining Rm Siding Living Rm Shakes Vaulted Ceiling Brick Bath Fedro}ms 3/4 INTERIOR INSPECTED Stone Stucco Fireplace YES NO Other Rms PICTURE TAKEN ON GARAGE 2ND FLOOR 2-7 Grade Completed Yes No DATE OF APPRAISAL Yr. Built �J # of bedrooms Atte SizBath F } 3/4 3 Det'd Other Rms Was Owner Living Here Tuck on Jan. 2nd Yes No✓ Insulated 3RD FLOOR DATE TAGGED Driveway Completed Yes No # of bedrooms Bath F } 3/4 Appraised by 72-,� "j, Other Rms $ Completion SEE OTHER SIDE FOR SCETCH OF DWELLING 1Z�3�j�� F,�.e,,..�-� j � �. �� �v � � R� �� 38 � _ IZ S l� �� __ Zr S 3G y DON D . MARTIN Al SCOTT COUNTY ASSESSOR COURT HORSE 112 SHAKOPEE, MN 55379-1381 ( 612)-445-7750 , Ext . 1 15 MEMORANDUM : Date : May 29, 1986 To: l ;'86 Shakopee Board of Review From: Robert N. Schmitt , Scott County Assessor ' s Office Proper t Owner : Earl Dressen Property Address: 328 Lewis Street PID# : 27 001 354 0 1 . Ti,Ge & Description of Property : This property has a non- homesteaded, older home located on it. The home was built in approximately 1900. It is a 1 3/4 story house with both floors used as apartments. The home has a brick exterior and a shingled roof. The basement is a celler. The ground floor square footage is 1029 square feet. Baths number 1 + 3/4, kitchens - 2, bedrooms - 3. The home has space heat and a stone foundation. It was part of the 25% reassessment for the 1986 assessment of Plat 001 (The Original City of Shakopee) . Home is graded as a 52f which is a below average home. 2 . Deck or Patio : No 3 . Gar age De sc r- i p t i on : Built in 1920's, 22 x 20 detached, dirt floor. 4 . 0 t h e r : 9' x 14' closed porch on the f ront of the house. 5 . Total Structural Value : $ 39,600 6 . Lot Size : 71' x1201 7 . Lot Value : 14,000 0 . Total Estimated Market Value of Property: $ 53,600 9 . Other Information on Assessment Previous value of the property was $ 48,600. DWELLING year built PAX(EL NO. X sq. it. story height no. rooms no. baths no. bedrooms basement percent basement fin. ^f fireplace walkout deck central air brick trim porch Lot Size GARAGE X _ attached ves no OBSER4ED CONDITION: exc. good fair �. poor mA DON D . MARTIN SCOTT COUNTY ASSESSOR COURT HOUSE 112 SHAKOPEE, MN 55''79-1381 6127 -445-7750 , Ext . 115 MEMORANDUM: : Date : May 29, 1986 To: 1986 Shakopee Board of Review From: Robert N. Schmitt , Scott Count; Assessor' s Office Property Oviner : James Ramaker Property Address: 338 W. 6th Ave. PIG# : 27 001 656 0 1 . T-•1pe & Description of Property: This is an older residential home, built in 1950. It is a 1-21- story house of 760 square feet on the main floor. The basement is full and unfinished. The home has central air conditioning and an 81 x 8f breezeway between the house and garage. The property was part of the 25% reassessment which was done for 1986 and it received an increase in value as dirt most homes in the plat of the Original City of Shakopee. 2. Deck or Patio : No 3. Gar-age Description : Attached, 20' x 249 4 . Other : An 8' x 81 Breezeway 5. Total Structural Value : $ 41,600 6. Lot Size ; 60, x1421 7. Lot Value : $ 12,700 8 . Total Estimated Market Value of Propert;: : $ 549300 9 . Other Information on Assessment Previous value of the property was $ 527000. The property is classified as non-homestead for the 1986 assessment. Mr. Ramaker lives in Glen Ellyn Park in Jackson Township. Note: A letter from Mr. Ramaker will be read as his appeal to the Board of Review. rr a r 9 .4. - PARCEL NO. DWELLING year built F ' X sq. ft. story height --no. rooms no. baths no. bedrooms basement percent basement fin. fireplace walkout _ deck central air brick trim porch Lot Size X GARAGE X attached yes no OBSERVED CONDITION: exc. good fair poor UE GRADE — 1 , I i IL i I ' j j i i I i I I I I I i i MAY 31986 Gi = � CITY OF SHieors-}..E co qpLO wall Au lao s . cti�� smDON D. MARTIN SCOTT COUNTY ASSESSOR ONNERW COURT HOUSE 1 1 2 SHAKOPEE . MN 55379-1381 (612) -445-7750 , Ext . 115 MEMORANDUM: Da t e : May 30, 1986 To: 1986 Shakopee Board of Review From: Robert N . Schmitt , Scott County Assessor ' s Office Property Owner : Harold Marschall Property Address: 550 Dakota Street PID#: 27 032 014 0 1 . Type & Description of Property: This property which is des- cribed as Lot 4 Elock 1, Macey Plat, has a 4 - Plex built upon it. The structure was built in 1978 and has 1872 square feet on the main floor. It is a split-entry type design. The property also has 2 attached garages which have a total of 1248 square feet. There are 2 decks which measure 5' x 8' each. This property is considered to be of good construction. 2 . Deck or Pat i o: 2 decks 5' x 8' each. 3 . Czar age De sc r i p t i on : 2 attached 26' x 24' each. 4 . Other : 5. Total Structural Value : $ 1127800 6 . Lot Size : 125' x171' 7 . Lot Value : $ 28,300 8. Total Estimated Market Value of Propert-; $ 1417100 9 . Other Information on Assessment Mr. Marschall's property was increased from the previous value of $116,500 to equalize his property with other 4-Plexes in Shakopee. Since 682 Shakopee has had 5 sales of 4-plexes and the avaerage sale price has been $ 154,400. This includes sales up to April of 1985. I believe the value on Mr. Marschallsproperty to be fair when compared to other similar properties in the City of Shakopee. n �—�1•'�X HA(lt�LG (Ylrif'ZSG,H{�Lt DWELLING year built PARCEL NO. CJ; 01 x s, ft. J872 SHAa(. story height no. rooms O no. baths - no. bedrooms g basement percent basement fin. fireplace walkout deck central air brick trim ` porch Lot Size X GARAGE t X attached yes Zno OBSERVED CONDITION: exc. good fair poor DATE SOLD GRADE ,FHA KOPEE AREA P.O. BOX NO, 203 L SHAKOPEE, MINNESOTA 55379 (612) 445-1660 5-19-86 The Honorable Eldon Reinke Mayor City Council Members 129 E . First Avenue Shakopee , MN 55379 Dear Mayor Reinke : The Shakopee Area Chamber of Commerce formed a committee consisting of Mr . Gary Laurent , Mr . Richard Mertz , Mr . John Anderson and me to research the construction , placement and financing of a Chamber Office/Visitor Information Center for the Community of Shakopee . Let me address each phase individually and state our recommendations as they have been received and adopted for action by the Chamber of Commerce Board of Directors . a . Construction - We are recommending a combination Chamber Office and Visitor Information Center be built to accommodate the increased activity within our community in the area of tourism. b . We recommend that this facility be located immediately adjacent to the comfort station located in Memorial Park just east of Shakopee . C . We respectfully request that the City Council adopt the Lodging Tax Ordinance allowed under M. S . 477A. 018 which allows for up to a three per cent tax on all hotel , motel and camp sites located in the municipal boundaries . We would recommend the full three per cent be levied because of the need to pay for a new facility and at the same time we will wish to promote Shakopee at the highest level possible . The law specifies that 95% of the revenue must be spent for promotion and therefore has great potential for our community. Visitor Center building costs are considered promotional expenses . The above mentioned committee will visit with the owner of each of the affected facilities in the City of Shakopee and explain the need and the potential benefit . Further , we have in our possession a copy of an agreement that the City Council of Winona has with the local Chamber of Commerce whereby the proceeds from the lodging tax are turned over to the Chamber for the kind of operation we are proposing here . We request that the Shakopee City Council consider allowing the Shakopee Chamber of Commerce to administer the funds . We believe this goal to be consistent with those of the City in attempting to gain Star City Status . The Chamber endorses the concept and will do what it can to support the City in these efforts . If this becomes an item on your council agenda we will have a member(s) present to attempt to answer any questions you many have . Thank you for your consideration . Si cerely, Virg 1 ears , Cha er of Commerce M/d c DISTRICT OFFICES � INDEPENDENT SCHOOL DISTRICT NO. 720 505 SOUTH HOLMES JAMES STILLMAN,Chairperson SCOTT COUNTY GAYDEN F.CARRUTH,Ph.D. JOAN LYNCH, Vice Chairperson SHAKOPEE, MINNESOTA 55379 Superintendent of Schools GAIL REBECCA KELSO.Clerk TELEPHONE: 445-4884 VIRGIL S.MEARS JOHN GOIHL, Treasurer Assistant Superintendent JAMES SORENSEN,Director SUZANNE VANHOUT.Director JANET WENDT,Director May 27, 1986 Mr. John Anderson City Administrator City Hall 129 East First Avenue Shakopee, Minnesota 55379 Dear Mr. John Anderson: Each year the school districts throughout the State of Minnesota are required to host a meeting for all governing board members of the various governmental bodies within the boundaries of the school district. The purpose of this meeting is to discuss methods of increasing mutual cooperation among governing boards. It is hoped that through discussion at these meetings duplication of programs can be avoided, plans can be made to maximize resources for future programs and activities and common areas of concern can be identified. Community education in the Shakopee School District has grown in popularity over the years. It has expanded from primarily recreational activities to include educational programs and services for people of all ages. Indeed, we are striving for lifelong learning. Participation in these programs continues to grow. Please consider this as a personal invitation to attend this meeting. The meeting will be held in the school board meeting room located in the Central Elementary school building, 505 South Holmes, Shakopee. The meeting will begin at 7:30 p.m. and will be held on Monday evening, June 9, 1986. The school board meeting room will be open at 7:00 p.m. We will have coffee and dessert for those who wish to come prior to the meeting. This will also provide us with a little time prior to the meeting for some social conversation. I sincerely hope that you will be able to attend this meeting. A tentative agenda is attached. Sincerely, J. IG de F.Carruth Y Superintendent of Schools GFC:cb enclosure AN EQUAL OPPORTUNITY EMPLOYER COMMUNITY EDUCATION PROGRAM COMPLIANCE MEETING Date: June 9, 1986 Place: Shakopee School Board Meeting Room Central Elementary School 505 South Holmes Time: 7:30 p.m. A G E N D A I . Introduction of meeting participants. II . Review of Community Education program. III . How can governing boards promote cooperation. IV. Need for new programs and services. V. Open Forum. VI . Adjourn. r� Resta,- .1g LARRY W BROWNE ` VICE PRESIDENT GENERAL COUNSEL AND SECRETARY CERTIFIED MAIL NO.P 239 174 575 RETURN RECEIPT REQUESTED May 27, 1986 City of Shakopee 129 E. First Avenue Shakopee, Minnesota Attention: City Administrator Re: Loan Agreement, dated January 15, 1980, between the City of Shakopee, Minnesota and Perkins 'Cake and Steak, Inc. (predecessor in interest to Perkins Restaurants, Inc.) (the "Loan Agreement") Our File: FIN-011 Dear Sir/Madam: On March 21, 1986, Perkins Restaurants, Inc. created a wholly owned subsidiary, Perkins Realty, Inc. , a Delaware corporation, as a holding company for fee properties and leasehold interests. As part of this project, Perkins Restaurants, Inc. intends to assign the property located at 1205 E. First Avenue, Shakopee, Minnesota to Perkins Realty, Inc. , and then immediately transfer the subject property back to Perkins Restaurants, Inc. by lease. In order to obtain financing, Perkins Realty, Inc. plans to enter into a second mortgage on the subject property. Perkins Restaurants, Inc. will continue to occupy the subject property as Tenant and will be liable to you for performance of all obligations required under the Loan Agreement. There will be no interruption in the payments due and checks will be issued from the same office that currently issues monthly payments. Perkins does not intend to alter its use of the premises in any manner whatsoever. PERKINS RESTAURANTS. INC. 6401 POPLAR AVENUE, MEMPHIS,TENNESSEE 38119 PHONE 901-766-6400 May 27, 1986 Page 2. Pursuant to the terms of the Loan Agreement, Perkins must receive written consent from both the Bank and the City prior to transferring its interest in the subject property or further encumbering said property. Perkins therefore requests your consent to the assignment of the subject property from Perkins Restaurants, Inc. to Perkins Realty, Inc. , to the subsequent leasing of the premises by Perkins Realty, Inc. to Perkins Restaurants , Inc. and to Perkins entering into a second mortgage on the subject property. If you have any questions regarding this proposed transaction, please contact me. Otherwise, please indicate your consent by executing the duplicate original of this letter and returning it to my attention. We anticipate completing this matter by June 3, 1986, and your prompt response is therefore appreciated. V truly yo , VBrowne esident, General Counsel and Secretary BMR/slc OrTHE ,V SC OTTLAN D COMPANIES May 29 , 1986 ITEM 9-D Mayor Eldon Reinke and Members of the City Council City of Shakopee 129 E. First Avenue Shakopee, MN 55379 RE: Sale of Land by MWCC Dear Mayor Reinke and Members of the City Council: 1 . Overview The Metropolitan Waste Control Commission (MWCC) purchased 590 acres from Scottland Inc. and the MWCC later decided it would use the property for a sludge farm. The City of Shakopee objected to that use and the Supreme Court ruled that the MWCC could proceed free from the zoning and regulatory controls of the City. Fortunately, MWCC subsequently decided not to use the property for a sludge farm or some other use which could be adverse to the interests of the City. Recently, the MWCC decided to list the property for sale by sealed bid. The bids were opened on April 30 , 1986 and the high bidder was Consolidated Management Corporation ( "Consolidated" ) which submitted a bid of $1 , 257 , 500 which was approximately $2, 131 per acre. This bid was $17 ,857 more than the bid subitted by a subsidiary of Scottland. Consolidated, a Nevada corporation whose principals are well-known and respected developers of land in Nevada, Texas and elsewhere, then asked Scottland to be their joint venture partner. After we reviewed their background and we were assured by them that they knew and understood the limitations on the development potential of the property as set forth in the City ' s Comprehensive Plan, Zoning Code, Subdivision Ordinance, and availability of public sewer and water, we agreed to be their joint venture partner. 5244 Valley Industrial Boulevard South Shakopee, Minnesota 55379 [612] 445-3242 City of Shakopee May 29 , 1986 Page 2 At or prior to the MWCC committee meeting on May 13, 1986 , one or more commissioners stated that perhaps they would not sell the land to the highest bidder at this time but instead the MWCC might: 1 . Hold the land in inventory for several years to see if the MWCC has a use for it or to see if it appreciates in value. 2. Subdivide the property into 15 parcels of 40 acres each or less and sell the parcels to one or many different buyers. The MWCC committee tabled any action on the sale until its committee meeting on Wednesday, June 11 , 1986 with possible final action by the MWCC at its meeting on Tuesday, June 17 , 1986 . The bid price previously offered to the MWCC expires on June 30 , 1986 • If the bid is not accepted by that time, the MWCC is likely to follow one of the above courses of action. The MWCC committee requested that the joint venture group obtain from the City of Shakopee a resolution which either supported the sale of the property at this time or requested that the property be kept in inventory by the MWCC for possible future public use, resale as an entire parcel, or resale in small parcels. 2. There are Numerous Reasons why the City would Benefit from the Sale of the Property At This Time. The City has repeatedly asked the MWCC to sell the property so that it would return to the tax rolls of the City. If the property is sold now to a private party, the City will know that the property will not be held for some possible future tax exempt public use or tax exempt private party use over which the City may have little or no control. If the property is sold as one 590 acre parcel, the City will be assured that it will be master planned in conformance with City zoning ordinances to enhance the tax base and promote property values in the area. 3. The Development Limitations on the Property. The joint venture partners have reviewed the Comprehensive Plan and Zoning Code of the City and understand the development rk-- City of Shakopee May 29 , 1986 Page 3 limitations on the property and that those limitations may continue in effect for the foreseeable future. Both partners have developed projects with similar limitations and realize that any other type of development may not take place for 10 to 20 years, if even then. Both parties agree that the City should retain that control. 4. Summary. We believe that it is in the City' s interest to make sure that the parcel of property is returned to private ownership as an entire parcel so that it can be developed in a planned manner subject to the controls of the City. We respectfully ask that the City Council adopt a resolution at its meeting on Tuesday, June 3, 1986 requesting the MWCC to sell the property in one parcel to Consolidated Management Corporation. If you would like representatives of Consolidated Management Corporation or The Scottland Companies to be present at that Council meeting or some other Council meeting you deem appropriate to review this request, or if you desire any further information, please advise us. Very truly yours, THE SCOTTLAND COMPANIES CONSOLIDATED MANAGEMENT CORPORATION Bruce D. Malkerson By James Brown Executive Vice President Its President BDM:ap C.C. John Anderson, City Manager RESOLUTION NO. 2572 1 A RESOLUTION REQUESTING THE SALE OF LAND BY MWCC WHEREAS, the City has repeatedly asked the Metropolitan Waste Control Commission to sell 590 acres of property it owns in Shakopee so that it would return to the tax rolls of the City, and WHEREAS, recently the WMCC decided to list the said property for sale by sealed bid, which bids were opened on April 30 , 1986 and the high bidder was Consolidated Management Corporation ( "Consolidated" ) who submitted a bid of $1 , 257 , 500 which was approximately $2 , 131 per acre, and WHEREAS, the bid from Consolidated was $17 , 857 more than Scott County Real Estate Corporation, and WHEREAS, Consolidated, a Nevada corporation whose principals are well-known and respected developers of land in Nevada, Texas and elsewhere, then asked Scott County Real Estate Corporation to be their joint venture partner, and WHEREAS, Scott County Real Estate Corporation has agreed to be their joint venture partner, and WHEREAS, the joint venture partners have reviewed the Com- prehensive Plan and Zoning Code of the City and understand the development limitations on the property and that those limitations may continue in effect for the foreseeable future, and WHEREAS, both partners have developed projects with similar limitations and realize that any other type of development may not take place for 10 to 20 years, and agree that the City should retain control of development through its Comprehensive Plan and Zoning Ordinance, and WHEREAS, the MWCC committee tabled any action on the sale of the 590 acres until its committee meeting on Wednesday, June 11 , 1986 with possible final action by the WMCC at its meeting on Tuesday, June 17 , 1986 , and WHEREAS, the bid price previously offered to the MWCC expires on June 30 , 1986 and if the bid is not accepted by that time, the MWCC is likely to follow one of two courses of action: a. Hold the land in inventory for several years, tie--see, if__the--MWCC—ham—a-terse for it or to see if it appreciates r, vsnlue r--- Resolution No. 2572 Page Two b. Subdivide the property into 15 parcels of 40 acres each or less and sell the parcels to one or many different buyers, and oto-� �'J & _ WHEREAS, the MWCC committee requested that the joint venture group obt in from the City of Shakopee a resolution which either supports , he sale of the property at this time or-r-e�-st_-__,that the- property be kept in inventory by the MWCC for possible future public use, resale as an entire parcel, or resale in small parcels, --and WHEREAS, if the property is sold now to a private party, the City will know that the property will net-be—herd--fog-some possible _ iLture tax exempt public use or tax exempt private n pasty- us-e, and fu'utt' d w � " WHEREAS, if the property is sold as one 590 acre parcel, the City will be assured that it will be master planned in con- formance with City zoning ordinances to enhance the tax base and promote property values in the area. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Shakopee hereby requests the Metropolitan Waste Control Commission to sell the 590 acres of property it owns in Shakopee as one parcel to Consolidated Management Corporation. Adopted in session of the City Council of the City of Shakopee, Minnesota, held this day of 1986 . Mayor of the City of Shakopee ATTEST: City Clerk Approved as to form this day of 1986 . City Attorney JOINT VENTURE AGREEMENT THIS AGREEMENT is made and entered into this —ZS2 day of May, 1986 , by and bet,7een CONSOLIDATED NL-.NAGEMENT CORPORATION ( "Consolidated" ) , a Nevada corporation , and SCOTT COUNTY REAL ESTATE CORPORATION ( "Scott County" ) , a Minnesota corporation . WHEREAS , the parties desire to join together as joint venturers for the purpose of the establishment of a " real estate development park" on a tract of land of approximately 588 acres located east of County Road 83 and south of County Road 16 in Shakopee , Minnesota , legally described as set forth in Exhibit A attached hereto ( the "Property" ) , which Property is presently owned by the Metropolitan Waste Control Commission ( "MWCC" ) and is to be acquired by Consolidated as nominee for the joint venture as hereinafter provided. NOW THEREFORE, it is agreed by the parties hereto as follows : 1 .. Creation of Joint venture . The entity hereby created is a Joint Venture, an unincorporated association to be known as Eagle Joint Venture which is formed by and between Consolidated and Scott County, each as a fifty percent ( 50%) owner , for the sole purpose of carrying out the purposes described herein and no other . 2 . Purpose . The purpose of this Joint Venture is to acquire and develop the Property as a real estate development park, the exact terms and conditions for development to be set forth in a definitive agreement to be prepared and agreed to by reof . the parties hereto as set forth in paragraph 5 he �� 3 . Place of Business . The place of business of the Joint Venture shall be 5244 Valley Industrial Boulevard, Shakopee , Minnesota . 4 . Term. This Joint Venture shall continue in existence until such time as a more definitive agreement shall be entered into by unanimous consent of the parties hereto or until either party shall give notice of its intention to liquidate the Joint Venture as provided for in paragraph 6 hereof . 5 . Definitive Agreement . The parties hereto recognize the need to prepare and agree upon a definitive agreement outlining in detail their respective duties and obligation with respect to the development of the Property. The parties hereto agree that they shall negotiate in good faith with the intention of formulating such agreement with the expectation that such agreement can be formally executed within ninety (90) days hereof . The parties recognize that such agreement will need to address such issues as : Capital Contribution Management Sharing of Profits and Losses Distributions Reimbursement of Expenses Budgets Program for Development Professional Assistance and other such items necessary and appropriate for a joint venture involved in real estate development . It is the intention of the parties hereto that such definitive agreement , once it is prepared and agreed upon, shall replace this Joint Venture Agreement and shall set forth all of the agreements and understandings of the parties with respect to the Property. ( �f -2- 6 . Liquidation of Joint Venture . At any time during the term of this Joint Venture Agreement , either party, by written notice to the other party, may set forth its intention to liquidate the Joint Venture . The party giving such notice of intention to liquidate shall for purposes of this Agreement be known as the "Liquidating Party" and the party receiving such notice shall be known for purposes of this Agreement as the "Respondent Party" . Such notice of intention to liquidate the Joint Venture, in order to be effective , shall set forth the value of the interest of the Liquidating Party in the Joint Venture ( "Stated Purchase Price" ) . Upon receipt of such notice of intention to liquidate , the Respondent Party shall have twenty (20) days to give written notice to the Liquidating Party indicating whether such Respondent Party shall purchase the interest of the Liquidating Party in the Joint Venture or sell its interest in the Joint Venture to the Liquidating Party for the Stated Purchase Price . If the decision of the Respondent Party is to purchase the Liquidating Party' s interest , it shall accompany its notice to purchase with an unconditional letter of credit in favor of the Liquidating Party issued by a federally chartered bank as collateral for the payment of the Stated Purchase Price . Such unconditional letter of credit to be payable at the time of Closing of the sale cf the Liquidating Party' s interest and shall be in an amount equal to the Stated Purchase Price . If within the twenty ( 20 ) days , the Respondent Party either fails to give notice of its intent to purchase or fails to -3- accompany such notice with the requisite letter of credit or elects to sell its interest in the Joint Venture to the Liquidating Party, then the Liquidating Party must purchase the interest of the Respondent Party in the Joint Venture for the Stated Purchase Price by giving notice of such intention to purchase within forty (40) days of the date of the initial notice of intention to liquidate . Such notice shall be accompanied by an unconditional letter of credit payable to the Respondent Party . Such unconditional letter of credit to be payable at the time of Closing of the sale of the Respondent Party' s interest and shall be in an amount equal to the Stated Purchase Price . The Closing on the sale of the joint venturers ' interest pursuant to such notice of liquidation shall take place not less than forty-five (45) days and no more than ninety (90) days following the giving of the initial notice of liquidation. At Closing the party purchasing the interest of the other shall pay to such party the Stated Purchase Price in cash. 7 . Capital . The capital to be contributed by each of the parties to the Joint Venture shall be as follows : Consolidated Management Corporation $628 , 750 Scott County Real Estate Corporation $628 , 750 Each party shall contribute ten ( 10%) percent of its required capital within 30 days following the award of the bid by the MWCC on the Property to Consolidated and the balance simultaneously with the title closing for the purchase of the. ,: Property from MWCC. -4- In the event that the parties determine that additional OL working capital is required, such additional working capital shall be loaned to the Joint Venture by the parties within ten ( 10 ) days of a call therefor to the maximum aggregate amount of One Hundred Thousand and No/100 ($100 , 000 . 00 ) Dollars to be met by Consolidated and Scott County in proportion to their respective capital contributions . All such loans shall mature within ninety ( 90 ) days of such loan and shall provide for the payment of interest at the rate of ten percent ( 10%) per annum upon maturity subject to unlimited right to prepayment without penalty . 8 . Purchase of Property . Consolidated , as nominee for the Joint Venture , shall take title to the Property from the Metropolitan waste Control Commission and shall simultaneously issue to the Joint Venture a Quit Claim Deed in favor of the Joint Venture for one hundred ( 100%) percent of the Property. 9 . Amendment or Modification of Acreement . No amendment or modification to this Agreement shall be made except by instrument in writing signed by both of the parties hereto . 10 . Rights of Parties to Encase in Business . This Joint Venture Acreemient shall not be construed to prevent or in any way limit the unrestricted rights of the parties or of any of their affiliates to engage in and carry on any form or manner of other commercial enterprise of every nature and description whether or not in competition with the business of the Joint Venture . 11 . Relationship of Parties . Nothing in this Agreement shall be deemed, held or construed as creating an association of/ � � n partnership or joint enterprise fcr any other purpose than that specifically set forth herein . Neither party shall have the authority to make any commitment for or on behalf of the Joint Venture or any other party except to the extent that such authority shall be specifically conveyed in writing . Each party agrees to indemnify and save harmless the other party hereto against all losses , expenses , damages and liability of any nature whatsoever arising out of that party ' s actions or failure to act when action is required as a party to this Joint Venture . 12 . Assianment . Neither party hereto shall assign, sell , transfer or in any way encumber its interest in this Joint Venture without first obtaining the consent of the other party hereto . 13 . Notice . Any notice or other communication provided for in this Agreement shall be sent by registered or certified mail post prepaid to the addresses indicated below: Consolidated Management Corporation 39 St . Lawrence Avenue Reno, NV 89509 Scott County Real Estate Corporation 5244 Valley Industrial Boulevard Shakopee, MN 55379 15 . Governina Law. The terms of this Agreement shall be interpreted in accordance with Minnesota law. S -5- IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day first above written . _ n CONSOLIDATED MANAGEMENT CORPORATION By Its SCOTT COUNTY REAL ESTATE CORPORATION By �t.i Its /ale = 4066r -7- LEGALDESCRIPTION: The 'west Half of the Southwest Quarter (W 1/2 of sw 1/4) and that part of the Northwest Quarter (N•ri 1/4) lying South of the centerline of County Road No . 16 , all in Section 15 ; the Northeast Quarter of the Northeast Quarter (NE 1/4 of NE 1/4) , the Sou=.`: Hal_` of the Northeast Quarter (S 1/2 of NE 1/4 ) , the North Half of the Southeast Quarter (N 1/2 of SE 1/4) , and the Southeast Quarter of the Southeast Quarter (SE 1/4 of SL 1/4) all in Section 16 ; the Northeast Quarter of the Northeast Quarter (NE 1/4 of the NE 1/4) of Section 21; and the Northwest Quarter of the Northwest Quarter (ViN 1/4 of the NW 1/4) of Section 22; all in Township 115 , Range 22 , and all according to the United States Goverment Survey thereof . 1 I I The South Three-fourths of the East one-half of the Southwest Quarter of Section 15 , Township 115 , Range 22 , Scott County , minresota. Containing 59 . 96 acres more or less. AND ALSO: ' 1 The Ncrtheast Quarter of the Northwest Quarter of ; Section 22 , Township 115 , Range 22 , Scott County , Minnesota. EXCEPTING TKEREFROM The following described tract: Commencing at the Northeast corner of said Northeast Quarter of the Northwest Quarter; thence South (assu�-med bearing) along the East line thereof a distance of 621. 16 feet to the point of beginning of the tract of land to be described; thence continuing South along said East line a distance of 349 .75 feet; thence North 89 degrees , 48 minutes , 10 seconds West 18 a distance of 501. 20 feet; thence North 4 degrees , minutes , 10 seconds West a distance of 326 . 00 feet; thence North 87 degrees , 29 minutes , 48 seconds East a distance of 526. 17 feet to the point of beginning. Containing 35 . 63 acres more or less. I i I SUBJECT TO existing easements for public roads and highway, /r'�, public utilities , railroads and pipelines , and other easementst and encumbrances of record or in use. EXHIBIT A `Y �� MEMO TO: John K. Anderson, City Administrator FROM: Judi Simac, City Planner RE: Appeal of decision on a Conditional Use Permit and Variance by Roy Marschall DATE: May 28 , 1986 Introduction: Roy Marschall requested a Conditional Use Permit and Variance to move-in a trailor home to house hired farm employees upon property at 2088 Marschall Road. The Board of Adjustment and Appeals denied the variance and the Planning Commission denied the Conditional Use. The decision of the two bodies has been appealed. Background: Section 11. 05 , Subd. 8 contains the following criteria for mobile homes as a conditional use in the Ag or R-1 Districts for Agricultural purposes: A. Property must be used as an agricultural use. B. Mobile home may not be the only occupied residential structure on the property. C. Persons living in the mobile home must be related to the farm operator and must work on the farm. D. Mobile home may be placed on property for one 5 year term and Planning Commission may reissue permit. E. Annual review of conditional use. The mobile home request meets all of the criteria, except for C. The occupant does work on the farm, but is not related to the farm operator. The variance request is a "use" variance. Section 11. 04 , Subd. 5 , A states that no use variance may be granted. Attached are copies of the meeting minutes , staff report and location maps. Please also note that the Planning Commission aDDroved a motion to direct staff to research an amendment to the code which would allow farmers to have accessory residences if farming is the principal business. Action Requested: 1. Motion to deny Variance Resolution of the City Council No. CC-463 . 2. Motion to deny Conditional Use Permit Resolution of the City Council No. CC -456 . Attachments MEMO T0: Shakopee Board of Adjustment and Appeals Shakopee Planning Commission FROM: Judi Simac, City Planner DATE: April 30 , 1986 APPLICANT: Roy Marschall ZONING: R-1 Rural Residential LAND USE: Existing 40 acre farm APPLICABLE REGULATIONS: Variance: Section 11. 04 , Subd. 5 ; 11. 05 , Subd. 8; 11. 25 , Subd. 3 M Conditional Use: Section 11. 04 , Subd. 6 ; 11. 25, Subd. 3 M FINDINGS REQUIRED: Variance: Section 11. 04 , Subd. 5 A Conditional Use: Section 11. 04 ,' Subd. 6A SURROUNDING LAND USE: Farmsteads and single family rural residential PUBLIC UTILITIES: Sanitary Sewer, Water and Storm Sewer not available PROPOSAL: The applicant is requesting a variance from the requirement that persons living in the mobile home in the R-1 District must be related to the farm operator and must work on that farm, in order for his hired hand to live on the farm. The applicant is requesting a conditional use permit to have a mobile home in addition to the permitted farmstead residence, in the R-1 District. CONSIDERATIONS: A. Variance: 1. Section 11. 05 , Subd. 8 contains the following criteria for mobile homes as a conditional use in the Ag or R-1 Districts for agricultural purposes: a. Property must be used as agricultural use b. Mobile home may not be the only occupied residential structure on the property. C. Persons living in the mobile home must be related to the farm operator and must work on that farm. d. Mobile home may be placed on property for one 5 year term and Planning Commission may reissue permit. e. Annual review of the conditional use. 2. The mobile home request can meet all of the Criteria except for C. =he occupant does work on the farm, but is not related to the farm operator. 10 0-- 3 . The variance request is a "use" variance . Section 11. 04 , Subd. 5 A states that no use variances may be ganted. B. Conditional Use Permit 1. The applicant proposes to move in a mobile home which is 70 x 14 ft. in size. It would be located on the west side of the existing machine accessory building. A separate septic system would be required by the Building Official. 2. The mobile home will be occupied by the family of a worker on the farm. The worker spends 100 hours a week at the farm and must have close proximity to the farm to assist with its operation. 3 . Again, all of the criteria for having a mobile home on a farm can be met except for item C. Staff Recommendation: Staff believes that the proposed use is compatible with existing land uses in the vicinity and will not be materially detrimental to the uses in the R-1 District. However, a "use" variance is being requested and the code is clear that use variances may not be issued. .Therefore it is recommended that the variance and conditional use permit requests be denied. Action Reauested: Board of Adjustment and Appeals : 1. Motion to deny Variance Resolution -463 and move for its adoption. Planning Commission: 2. Motion to deny Conditional Use Permit Resolution tt456 and move for its adoption. 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Stock, Administrative Aide RE: Approval of the Landscaping Design for the Second Avenue Parking Lot and Ordering Said Project - Res. #2566 DATE: May 29 , 1986 Introduction• On April 15 , 1986 the City Council moved to order the land- scaping project for the Second Avenue Parking Lot at a cost not to exceed $32 , 890 . The Council also moved to authorize the appropriate City officials to enter into an agreement with Westwood Planning and Engineering for the consulting services for the said project at a cost not to exceed $3 , 947 . Finally, the Council moved that final plans for the landscaping project be submitted back to them for final approval. The Downtown Committee has reviewed the final plans and has made a recommendation to City Council for final approval of said plans. Background: On May 21, 1986 the Downtown Committee reviewed the landscaping design plans for the Second Ave. Parking Lot. At that time, Westwood Planning and Engineering proposed several retaining wall alternatives. It was the consensus of the Committee that Westwood should utilize the key stone retaining wall system in their final design. As a demonstration, the Committee also recommended that the ramp sidewalk to the lot (Northwest corner) and the first recessed area be completed utilizing the design concepts proposed for the Downtown Area. This would serve as a prototype of the streetscape elements proposed for the Downtown Area. On May 28, 1986 Westwood presented a landscaping design plan incorporating those elements suggested by the Downtown Committee. ( See attachment #1) Because the Downtown Committee would like to incorporate the streetscape elements proposed for the entire downtown area in one of the recessed areas and on the ramp section of the sidewalk, the cost estimates have been increased since Council' s last review of the plan. The total project cost for landscaping, engineering and design for completion of the Second Ave. Parking Lot is estimated to be $59 , 079 . 62 . (See attachment #2 ) At the May 28 , 1986 meeting, the Downtown Committee recommended to City Council that the landscaping design plan presented by Westwood be approved and that the City proceed with the Second Ave. Parking Lot Land- scaping Project. If the City Council desires to proceed with the project, it would be appropriate at this time to approve Resolution #2566 Ordering the Second Avenue Parking Lot Landscaping Project. ( See attachment #3 ) Final plans and specifications will be presented at the City Council meeting for your review. 0 Alternatives : 1. Approve Resolution # 2566 , A Resolution Approving Plans and Specifications and Ordering Advertisement for Bids for the Second Avenue Parking Lot Landscaping Project No. "1986-7 . 2 . Do not approve Resolution # 2566 , A Resolution Approving Plans and Specifications and Ordering Advertisement for Bids for the Second Avenue Parking Lot Landscaping Project No. 1986-7 . 3 . Suggest changes to the landscaping design plan before final approval. Staff Recommendation: Staff recommends alternative #1. (The recommendation of the Downtown Committee) Action Requested: Offer Resolution # 2566 , A Resolution Approving Plans and Specifications and Ordering Advertisement for Bids for the Second Avenue Parking Lot Landscaping Project No. 1986-7 . Attachments {',• Attachment #1 MAI CH EXI TING SID WALK REGRAD A RIVE ENT ANCE j PEDESTRIAN CURB RAMP S- CURB t N TO BEISTAKED PER MNDOT PLATE NO. 7036C 4" ONC. DIR Y ER S1Wi TYPICAL USE EI NFORC N •• -� __!1 HIS SEC ON ONLY RAMP &"G SuRfru .� 1• T'r I - - _ 6. I I I 1 (CONDUIT I I I TYP, 1 TYP. 2' AO. � 1>FD _ _ B.O.r. B.O.c. --I -ItTz 1 1 I P I I _ t----l—_ 1_.11 e RIEg I¢ y, COTDUI; I CONC. Cr B-4 MAN —_--- !' III' HOLE 4'x4' 4 7X 1 p . 4'RAD. I I I I I I I I 1 9 20 I I I O'RAD I TYPICAL. TY CAL I I I I I I I I I TYRI TYP.I Ib FS B. , 40 . Iv • --I--�—i— I — �— —� — -t —I-Y-I-- —t--I— a,h a A 26'-- I I 1 162'L 62' 1 1 ! 2 6' I- I I I I 16 FS 6'RAD; so s' MN aw ��/`••rte 26' 1 ING as' Paved recess � Y _ _�,,,�I' I 1NO S o- t� ( (cpncrtletel & ricl ) I I I I I j ' Wdoddn M I ' ' (Planting arleasl i I I Colncrotethte:o--,1 rd rail I I v ! 111 wi a V.� 1 I e)vh I Hyl I I v N I I �,• rr � �--- I I I I I I I ' I I I ' I c ! li - -- 1 C� ^Ca I Co 9•EI \`I C� IS 'i I C� �.\ °I FL\\ C, I 0 9 E1 \1L C- M �+p�+c��b JCD a.F�M� E;, k+�<ti ic l�ry4f e Wall a� /s 1��usl l�o;v�-S/%tfF!- Geos wary urs s';deu,.rk- z{� To 4,,e of Blau-�Ff, e o4 w&i I- Y+F. Existing sizlpwaIl- Attachment #2 I 0-- SECOND AVENUE PARKING LOT RETAINING WALL AND PLANTINGS COST ESTIMATE SHAKOPEE, MINNESOTA (SEE PLAN DATED 5/27/86) Number Cost/ Extended ITEM of Units Unit Cost Keystone Retaining Wall 1630 s.f. 8.25 13,447.50 Sidewalk (includes one wall recess) Concrete and 1423 s.f. 2.00 2,846.00 Brick 737 s. f. 10.50 7,738.50 Concrete Steps (includes railing) 16 risers 130.00 2,080.00 Wooden Bollards 28 posts 40.00 1,120.00 Wooden Railings 144 l.f. 7.50 1,080.00 Tree Grates 1 700.00 700.00 6' Cast iron/wood slat bench 1 755.00 755.00 Plantings, sod, rock mulch, edger Lump Sum 13,200.00 (includes rock mulch for 3 wall recesses) . Sub TOTAL $42,967.00 Contingency (10%) 4,296.70 Sub Total $47,263.70 Engineering/Legal/Admin/Fiscal (25%) $11,815.92 Total Project Cost $59,079.62 WESTWOOD PLANNING & ENGINEERING COMPANY 7415 WAYZATA BOULEVARD,MINNEAPOLIS,MN.55426(612)546-0155 Attac'.rnent 0 3 CLI RESOLUTION NO. 2566 A Resolution Approving Plans And Specifications And Ordering Advertisement. For Bids 2nd Avenue Parking Lot Landscaping Project No. 1986-7 Westwood Planning and Engineering has prepared plans and specifi- cations for the improvement of 2nd Avenue Parking Lot Landscap- ing, Project No. 1986-7 and has presented such plans and specifi- cations to the Council for approval NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA: 1 . Such plans and specifications, a copy of which is on file and of record in the Office of the City Engineer, are hereby approved. 2. The City Clerk shall prepare and cause to be inserted in the official paper and in the Construction Bulletin an adver- tisement for bids upon the making of such improvements under such approved plans and specifications. The Advertisement for Bids shall be published for ten days, shall specify the work to be done, shall state that bids will be received by the City Clerk until 10:00 A.M . , on June 24, 1986, at which time they will be publicly opened in the Council Chambers of the City Hall by the City Clerk and Engineer, or their designated party, will then be tabulated, and will be considered by the Council at 7:00 P .M. , or thereafter on July 1, 1986, in the Council Chambers, and that no bids will be considered unless sealed and filed with the City Clerk and accompanied by a cash deposit, cashier's check, bid bond or certified check payable to the order of the City of Shakopee for not less than five (5%) percent of the amount of the Bid . Adopted in session of the City Council of the City of Shakopee, Minnesota, held this day of 19 Mayor of the City of Shakopee ATTEST: City Clerk Approved as to form this day of 19 City Attorney MEMO TO: Mayor , Councilmembers FROM: Tom Brownell, Chief of Police RE: First and Holmes Traffic Control DATE: May 29 , 1986 INTRODUCTION: The department has been assigning two officers to direct traffic three hours per race day at the First and Holmes intersection and two hours on non-race days. BACKGROUND: With the opening of County Road 18 , Canterbury Downs will no longer share the overtime cost of traffic control at First and Holmes. The bridge reopened May 27 , 1986 . The department monitored the traffic on May 28th and noted that traffic congestion has reduced to the level experienced prior to the closing of County Road 18 . The attendance at the track on May 28th was 6 , 300 which is about the daily average. ALTERNATIVES: 1. Discontinue traffic control at First and Holmes. 2. Continue traffic control five days per week at a cost of 6900 . 00 per week for twenty weeks and provide contingency funding of $18 , 000 for overtime pay. RE COKrn:END-177 ON Discontinue traffic control at the intersection of First and Holmes. ACTION REQUESTED: Discontinue traffic control at the intersection of First and Holmes. TB:cah lz � MEMO TO: John K. Anderson, City Administrator FROM: Ken Ashfeld, City Engineer 'Zk<&_ SUBJECT: Eagle Creek Junction DATE: May 29, 1986 INTRODUCTION: At the May 20, 1986 regular meeting, Council discussed a request from Laurent Builders to install sewer and water lateral con- nections across Eagle Creek Boulevard (CSAR 16) . Council di- rected staff to return with information that answers the fol- lowing questions: 1. What amount was assessed? 2. What were the actual cost breakdowns, i. e. , litigation, right-of-way, etc. ? 3. How has litigation costs been handled in the past as it relates to assessable project cost? 4. How do other Cities handle assessments for utilities paralleling one side of a road but assessed to prop- erties on both sides? BACKGROUND: I have researched available information in an attempt to answer the questions presented. 1. Total amount assessed was $236, 500. 86. ^c. The following is a cost breakdown based upon my inter- pretation of each expenditure for the project. I did have to make some assumptions, based upon time frames, as to what was normal legal, administration, and engineering costs and what costs were attributed to litigation of right-of-way, construction claims and assessments. Construct ion $139, 587. 73 Right-of-Way $ 17, 300. 00 Legal & Administration $ 12, 798. 99 Engineering $ 21, 763. 21 Bonding & Fiscal $ 6, 671. 24 Litigation $ 9, 884. 99 TOTAL PROJECT COST $208, 006. 16 Eagle Creek Junction May 2'9, 1986 Page Difference between actual project cast and assessed cost is $28, 494. 70 C. Eased upon past practices of assessing litigation costs, I could riot substantiate a firm policy regarding apportionment of assessed costs. Typically right-of- way costs and associated appraisals and legal costs are considered project costs since this is determined in advance of project implementation. I would riot say that this is a firm policy though. Staff is riot familiar with a policy providing for amending assess- merits due to legal costs associated with assessment appeals. 4. I did speak with neighboring communities on methods of assessing utilities parallel to a roadway serving benefit to properties on both sides of the roadway. The following is a summary of assessment criteria: a. Differing rates for each side of the roadway is impractical and difficult at best to substan- tiate consistency of assessment procedures. b. Laterals (or services in the case of single lot development ) are installed originally with the trunk based or, one service per lot or one lateral per parcel or platted street. C. If laterals or services are not installed with the trunk, cost of proposed future laterals and services are assessed over project area. In the case of one neighboring community, services were riot installed nor future cost s assessed. The community was prepared to install services, since all properties were assessed equally but a change of land use preempted this action. A 1 t erriat i ves: In analyzing possible alternatives, the following questions should be answered. a. Is benefit approximately equal or consistent over all assessed properties? b. Since the per i od f or, cont est i rig assessment is long past, does this preclude further, actions? I Eagle Creek. Junction May 29, 1986 Page 3 C. Since the City did not formally act on previcz,us staff actions, are previous actions invalid? The following are possible alternatives: 1. Do Nothing. ^c. Agree to install four water and sewer lateral crossings as requested. 3. Negotiate a compromise. 4. Install requested crossings and re-assess the original project area. If the asnwer to the above questions is yes then alternative 1 would be appropriate. If the answer is no, then alternative 2 .=.r 3 would be appropriate. To implement alternative 4, the City would have difficulty proving benefit to properties on the north side of Eagle Creek Boulevard. RECOMMENDATION : If Council agrees to install four crossings for Eagle Creek Junction, I recommend that a service also be installed to the Howard Schmitt property, thereby, providing total equity. The cost of this action, as stated in a previous memo, would be approximately $46, 343. 00 + $3, 600- 00 totaling $49, 943. 00. Since $28, 494. 70 theoretically remains in the fund balance, approxi- mately $21, 448. 30 would require outside funding. If Council believes that all fund costs should be project cost and assessed appropriately, I recommend the following compromise. Project Cost to Date $208, 006- 16 Requested Crossing Cost (Approximately) $ 49, 943. 00 Total Future Project Cost $257, 949. 16 Laurent Builders assessment responsibility based or, Future Pro- ject Cost . . . . . $118, 138- 10- Current 118, 138. 10.Current assessment amount filed on property owned by Laurent Builders . . . . $108, 315. 00. Additional assessed cost to Laurent Builders if all costs are project costs $9, 823. 10. Howard Schmitt assessment responsibility based or, Future Project Cost . . . . $6, 875. 84 Eagle Creek Junction May 29, 1986 Fuge 4 Current assessment amount filed on property owned by Howard Schmitt . . . . $E, 304. 86. Additional assessed cost to Howard Schmitt if all costs are project costs . . . . $570. 98. In summary, the aforestated compromise would provide for the fund balance to pay a portion of future project cost (78. 80 % in the case of Laurent & 84. 14% in the case of Schmitt ) and each property owner pay a portion of future project cost (21. 2o% in the case of Laurent & 15. 86% in the case of Schmitt ) . RECOMMENDED ACTION: Council to consider alternatives and recommendations and provide direction to staff as to desired actions. KA/pmp ECJ MEMO TD: John K. Anderson, City Administrator FROM: Ken Ashfeld, City Engineer] J SUBJECT: Eagle Creek Junction DATE: May 15, 1986 INTRODUCTION: At the May 6, 1986 Council meeting, the subject of sanitary sewer lateral improvements to the Eagle Creek Junction plat was discussed. The Council directed me to research information regarding service to the Howard Schmitt property. BACKGROUND: The attached sketch of Benefitted Areas indicate those properties receiving a trunk assessment and those that received a lateral assessment. Mr. Gary Laurent has requested that the City provide lateral crossings of Eagle Creek Boulevard (4 crossings in total but only one at this time to Eagle Creek Junction) since the Trunk is on the north side of the road and the properties on the south side of the road do not have equal lateral access. As directed, we have researched the following information: 1. Lateral and trunk assessments, on a unit basis, were equal on the north and south side of the road. 2. In researching Council action relative to the Schmitt property, we found a general discussion of costs but no action. The property is not currently served. Bo Spurrier indicated to me that Schmitt was not re- quired to hook up to the sewer due to the financial hardship of the construction cost. Schmitt told me that he understood that the City would install the crossing of Eagle Creek Boulevard. Obviously, this issue is not resolved. 3. Bo indicated that the lateral crossings were not put in with the project due to litigation with the con- tractor and the uncertainty of lateral crossing loca- tions. Apparently, the crossings, at the time, were considered as part of the project, although not in- itially part of the contract. 4. The project was assessed before completion of the project based upon estimated costs. The total amount assessed was $236, 500. 86. The costs incurred by this project, including all costs associated with the con- tractor Eagle Creek. Junction May 15, 1986 Fuge c litigation and assessment litigation, is approximately $208, 000. 00. This total cost difference of approxi- mately pproxi- mate1y $28, 500. 00 compares to a construct ion and en- gineering cost difference of approximately X49, 500. 00. SUMMARY: Laurent is asking for 4 crossings of Eagle Creek Boulevard (sewer and water) . He has a firm bid price of $11, 585. 77 for one cros- sing. If all four are the same price, the total cost of four crossings is $46, 343. 00. Since, if this req nest is granted, I would expect Schmitt to claim equal treatment. The Schmitt property has water available at the northeast corner of the property, therefore, sewer is all that is necessary in a crossing to provide access. I estimate the cost of a sewer crossing at approximately $3, 600. 00. ALTERNATIVES: 1. City agree to provide crossings as requested for Laur- ent. 2. City agree to provide crossings to the Laurent proper- ties and Schmitt properties. 3. City does not agree to provide any additional lateral crossings. 4. City agree to some form of compromise. RECOMMENDATION: It appears there is inequity of access between the properties on the north side and south side of Eagle Creek Boulevard, but seldom do assessments provide total equity among all properties. If it was deemed equitable that laterals should be installed, those laterals should have been constructed with the project and all cost assessed. If one looks at the project fund balance, there were funds avail- able for these crossings prior to litigation. Currently, there are no funds available for all the requested crossings. If ' Council agrees that litigation costs are project costs, I cannot recommend full financing of these crossings by the City since approximately $28, 500. 00 - ($46, 343. 00 + $3, 600. 00) _ $21,443. 00 would be required from General Funds. 7i f Eagle Creek Junction May 15, 1986 Page 3 If Council agrees that litigation cost is beyond that of assessed project cost, then there is, theoretically, dollars assessed for these crossings. As a caveat , when analyzing the fund balance one must keep in mind that the fund is currently in debt due to delinquent pay- merits of assessments. REDUESTED ACT I DIV: Direction from Council to staff as to the manner in which to handle the request from Gary Laurent and perhaps subsequent requests from Howard Schmitt for lateral utility crossings of Eagle Creek Boulevard. KA/pmp ECJ Q C.R. 16 UTILITIES BENEFITTED AREAS Q N 5,55 �,55Lr`lL, ` TRUNK WO�iO 1 yls;,'fy'ls11 "111 '' 5 l (�5 -'s t l 11 1`l tl1�t�Pt41,,11`t�+ t + 1 y 1,1t IJII>1�a S t�f+tiltr ,{ t X51' 1 '+1V,� s b t +(I tt 11 4' Sf'1+ SFI,00,.1"N. `�:;{4t 5J• LATERAL NO TR 1N OR � f:Rnl WATER AS KS SME t� FIRST PRES©. ► k0. y �' j '' �cu.r�-rTr CHURCH PacpaTy C) (� ,s► z ` 1� ,� i � , �` j i ---.• `'`� I i .-�, N I � __. � e 1 t3_ ,oi Y1 /. �-�if`a—ilp-p---«_�"'_6.8'C`_� .00c � ooa •-,`sac -� ,cuc '�"";oa["—" ;i5�'�Qt4, u 1 ' � i !,/ 1 I � `• 1 ! ' � - '1 � 2 .. f + �: ,,� � '� as .. �, � 1 . , � � I� ' . �� � �-,sad—�-°'z—•-:sac--. i r' � --us=•-aci-�—lam•` � i �I ^�-!-aar—�—acs—.-��cs—• I 4 ,� � I i j � � 4 Q/ � � � � 11 4 1 1 � � .r �y� cf --cza--�-pec—•-air--•—�j— �7-•zraos ;;� o- 4� .- a,_o,� ' `� 1 a�.J� }�-c:r l �'{� ooc• a�ooq�,a;p?a4.•:a�=�r�r,(,".�' � �.. . .� . i .. I l t 1 •:zap� ��-=ua--�,.1 , � � ; i + 1 ��—� .`��•—eat 1r,� 't MEMO TO: John K. Anderson, City Administrator FRDM: Ken Ashfeld, City Engineer SUBJECT: Eagle Creek. Junction DATE: May 21 1586 INTRODUCTION R BACKGROUND: Attached is a cony of a .letter- received from Westwood Planning & Engineering Comoany representing Laurent Builders regarding Eagle Creek. Junction. Eagle Creek Junction lies south of CSAH 16 and east of CSAH 17. The letter is not specific but as back- ground information, it is requesting the City to reimburse the developer for a sewer and water crossing of CSAH 16 from the trunk. lines on the north side of CSAH 16. This crossing is one of four that was apparently agreed to during the original construction of the trunk. systems. Engineering staff, due to the late receival of the letter, is still in the process of researching this matter and will have this information available to the Council on May 6, 1586 REQUESTED ACTION: No specific action requested by this memo. KA/PMD EC REEF' WAL WESTWOOD PLANNING & N^ E �INEERING COMPANY May 1 , 1986 Mr. Igen Ashfeld, P.E. City of Shakopee 129 East First Avenue Shakopee, MN 55379 Re: Eagle Creek Junction Dear Mr. Ashfeld: The cost of installing the sewer and water across County Road 16 to the right of way line is estimated to be $11 ,535.77. This price is broken down below based on our contractor's bid prices for the units and quantities needed to do this portion of work. A copy of our contractor's bid is enclosed for your informa- tion. Sanitary Sewer Unit Price Quantity Total 1. 8" D.I.P. 8-10' L.F. 23.60 68 $ 1 ,604.80 2. Construct drop m.h. over existing 8" D.I.P. including 4' drop EACH 2,850.00 1 3. Extra Manhole build O.F. 68.00 2,850.00 .74 50.32 4. Rock Excavation L.F. 30.80 68 2,094.40 6,599.52 Watermain 1. 6" D.I.P. L.F. 18.25 65 12x6 tapping valve $ 1 ,186.25 and sleeve EACH 1 ,300.00 1 1,300.00 3. Street restoration & shoulder repair L.S. 2,500.00 1 2,500.00 S 4,986.25 Total S11 .585.77 If you have any questions, do not hesitate to call. Sincerely, WESTWOOD PLANNING & ENGINEERING COMPANY A/ Charles Poppler 7415 WAYZATA BOULEVARD, MINNEAPOLIS, MINNESOTA 55426 (612) 546-0155 / Z V PROPOSAL FOR SANITARY SEWER, WATERMAIN, STORM SEWER AND STREETS EAGLE CREEK JUNCTION Proposal of ,e,��/nC� �",cJ1 7/7 / Address Bids are due at the office of Westwood Planning & Engineering Company on the day of 1986, at Gentlemen: We propose to enter into a contract with the Owner to furnish and deliver all material and equipment and perform all work, except as noted in the specifica- tions prepared by Westwood Planning & Engineering Company. Item Contract Unit Total No. Contract Item Unit Quantity Price Price SANITARY SEWER 1. 8" D.I.P. 0-8' L.F. 0.0 2. 8" D.I.P. 8'-10' L.F. 619.0 ou 3. Std. Manhole 0-8' EACH 2.0 A .0 D / 90 D,L) 0 4. Extra Manhole build V.F. 5.0 !� 3 4J.Oit 5. Construct drop manhole over �4CH 1 .0 .SO 00 existing 8" D.Z.P. 0-8' incl. 4 V.F. of drop Crr 6. 8" x Jr" Wve EACH 6.0 -�rh op G rr 7. or- CZSP 1/8 bends EACH 6.0 ?, 7S" d0 6'' 8. �'`' CISP Service L.F. 310.0 // � � Q7. ...n 9. Rock excavation for sewer and E- 5_19'S'.0 water=.-in installation r" Subtotal Sanitary Sewer � D WATER*�.AIN / 1. 6" D.17.'P. L.F. 638.0 2. 6" G.V. EACH 1.0 Hydrant w/auxiliary valve EACH 1.0 . 12'" x 6" tapping valve and EACH 1.0 sleeve installed ?. Fittings LBS. 220.0 - ,. ", x 3j` "" Corp. EACH 6.0 Curb Stop w/Box EACH 6.0 = Cu L.F. 304.0 - , 7s 7 6" Plug, Installed EACH 1.0 . Street & shoulder restoration on Co. Rd. 16 for sewer and water crossing L.S. 1.0 ? �- o Subtotal Watermain `�/ STORM SEWER 18" R.C.P. L.F. 72.0 07/, 18' R.C. Apron EACH ^.0 Subtotal Storm Sewer .&2Z- 4d sTR:.:.Ts Subgrade Prep. S.Y. 2826.0 �, (0.5' back of curb) — 1-1/2" 2341 Wear Course S.Y. 2416.0 1-1/2" 2331 Base Course S.Y. 2416.0 Q ?� <'/7T..4 . 6" Class V Agg. Base S.Y. 2416.0 ' (lOC: Crushed) . B-618 Curb & Gutter L.F. 36.0 o Surmountable Curb & Gutter L.F. 1030.0 Bituminous Curb L.F. 84.0 . Adjust '.Manhole EACH 3.0 9 Oa • Adjust Gate Valve EACH 3.0 • Equip;ient Rental (Attach Rate Schedule) HOURLY ALLOW 1,00C.00' • Cleaning Streets prior to 1 wear course L.S. 1.0 12. Tack coat S.Y. 181 .0 c �? � ,s, (.075 gal. per S.Y. ) Subtotal Streets �G Total — Sanitary Sewer, C Watermain, Storm Sewer and Streets r 2 ( ' d"4 MEMO TO: John K. Anderson, City Administrator FROM: Ray G. Ruuska, Engineering Coordinator SUBJECT: Norton Drive Street Repairs DATE: May 30, 1986 INTRODUCTION: Attached is Supplemental Contract No. 2 for Norton Drive Street Repairs. BACKGROUND: On May 20, 1986, City Council approved street repairs included in this Supplemental Contract as recommended in the City Engi- neer' s Feasibility Report. As a result of the expansion of this repair project, we were able to renegotiate the total cost of bituminous paving, resulting in a significant savings. ACTION REQUESTED: A motion to authorize proper City officials to execute Supple- mental Contract No. 2 for the 1985 Eaglewood Project in the amount of $47, 908. 60. Contract encumbered funds shall increase by X32, 728. 60 as a result of price renegotiation of bituminous paving. RR/pmp NORTDR CHANGE ORDER 0- Supplemental Contract : 2 Project Name: Norton Drive Street Repair Date: May 29, 1986 Contract No. : 1985-2 Original Contract Amount $ 151, 941.73 Change Order(s) No. 1 thru No. -- $ 17, 200.00 Supplemental Contract No. 1 $ 24, 774. 64 Total Funds Encumbered Prior to Change Order $ 193, 916. 37 Description of Work to be (Added/Deleted) : SEE ATTACHED The above described work shall be incorporated in the Contract, referenced above, under the same conditions specified in the original Contract as amended unless otherwise specified herein. Any work riot so specified shall be performed in accordance with the Standard Specifications adopted by the City of Shakopee, Minnesota. The amount of the Contract shall be increased by $ 32, 728. 60 The number of calendar days for completion shall be (New Completion Date) June 20, 1986. Original Contract Amount $ 151, 941.73 Change Order(s) No. i thru -- $ 17, 200. 00 Supplemental Contracts No. 1 thru 2 $ 57, 503.24 Total Funds Encumbered $ 226,644. 97 Completion Date: June 20, 1986 The undersigned Contractor hereby agrees to perform the work specified in this Change Order in accordance with the specifications, conditions and prices specified herein. Contractor: By: Title Date: APPROVED AND RECOMMENDED: City Engineer Date APPROVED: City of Shakopee By: Approved as to form this Mayor Date day of 19 City Administrator Date City Attorney G I a' SUBJECT: NORTON DRIVE -------------------------------------------------------------------- ------------------ I Item I I I Unit I Contract I I Na. I Contract Item I Unit I Price I Quantity I Amount I ----------I------------------------------I------1----------I----------I---------------f l I I I I I I I 1. 00 IF & I G" PUC Drain Tile I L.F. 1 $7. 67 1 2-50.00 1 $1,917.50 1 I I I I 1 I I I 2-. 00 I Salvage C1-5 1 L.S. 1$1, 300.00 1 1.00 1 $1, 300.00 1 I I I I I I I I 3. 00 I Subgrade Excavation I C. Y. 1 $2.50 1 2300.00 1 $5, 750.00 1 I I 1 I I I I I 4. 00 I Granu 1 ar Borrow I C. Y. 1 $5. 50 1 3000.00 1 $16,500. 00 1 I I I I I I I I 5. 00 I Geotext i le Fabric I S. Y. 1 $0. 79 1 2300.00 ! $1, 817.00 1 I I I 1 I I I I 6. 00 I C1-5 I Tan 1 $5. 80 1 1387.00 1 $8, 044. 60 1 I I I I I I I I 7. 00 I Re 1 ay 18" CMG I L.S. 1 $400. 00 1 1.00 1 $400.00 1 I i I I I I I I 8. 00 (Clean Ditch IL. S. 1$1,350.00 1 1. 00 1 $1, 350.00 1 1 1 I I I I I I * 9.00 12" 2341 Wear Course ITon 1 $23.00 1 370.00 1 $8,510.00 1 I I 1 I i i I I 10.00 14" Topsoil I C.Y. 1 $6. 50 1 235.00 1 $1, 527.50 1 I I I I I I I I 11.00 I Seeding I Acre 1$1,800.00 ! 0.44 1 $792. 00 1 I f I I I I I 1----------I------------------------------I------1----------I----------I---------------I I i ! I I TOTAL 1 $47, 908.60 1 I I I ! I f I * This item deletes bituminous paving item from Supplemental Contract No. 1 MEMO TO: John K. Anderson, City Administrator FROM: Judith S. Cox, City Clerk RE: Temporary Beer License - St. Mark' s Church DATE: May 30, 1986 Introduction and Background Application has been received from St. Mark' s Church for a temporary beer license for their Julifest ' 86 , July 26th and 27th. The application is in order. Action Recommended Approve the application and grant a temporary 3 . 2 Beer License to Church of St. Mark, 3rd Avenue and Scott Street, for July 26th and July 27th, 1986 . JSC/jms MEMO TO: John K. Anderson, City Administrator FROM: Judith S. Cox, City Clerk RE: Renewal of Non-Intoxicating Malt Liquor Licenses DATE: June 3 , 1986 INTRODUCTION The following applicants have applied for a 1986-87 On and/or Off Sale Non-Intoxicating Malt Liquor License. There are eleven applications in order at this time. Please approve those eleven and table the other five applications that are not in order. The Building Inspector has inspected the premises of all licensees . and all are in compliance with the city code. ACTION REQUESTED Approve the applications ( s) and grant a . . . license to: Approve/ Table Applicant On Sale Off Sale Approve Jim & Lucy' s Inc. X X 210 West 1st Avenue Not needed Friendly Folks Club, Inc. X Holds 123 East 1st Avenue liquor license Approve Richard E. Cleveland X 828 East 1st Avenue Approve Art Berens & Sons, Inc. X 123 West 2nd Avenue Not Juba' s, Inc. X Renewing 1100 Minnesota Valley Mall Approve Superamerica Stations Inc. X 1155 East 1st Avenue Approve Cedar Fair Limited Partnership X One Valleyfair Drive Approve Holiday Stationstores X 444 East 1st Avenue Approve Pizza Huts of the Northwest X 257 Marschall Road Approve Brooks Superette, Inc. X 615 Marschall Road Approve Speedway Concessions , Inc. X 6528 T.H. 101 Approve Q Petroleum X 235 West 1st Avenue Table Coll-Prahm Inc. X 2400 East 4th Avenue Table Tom Thumb Food Markets X 590 So. Marschall Road Approve JBF Inc. X 823 East 1st Avenue Table Fraternal Order of Eagles X 220 West 2nd Avenue Table Kwai and Grace Poon X 237 East First Avenue Table Brooks Superette, Inc. #42 X 1147 Canterbury Road JSC/jms J 2 .ems MEMO TO: John K. Anderson, City Administrator FROM: Judith S. Cox, City Clerk --� RE: Renewal of Non-Intoxicating Malt Liquor Licenses DATE: May 29 , 1986 INTRODUCTION The following applicants have applied for a 1986-87 On and/or Off Sale Non-Intoxicating Malt Liquor License. There are eight applications in order at this time. Please approve those eight and table the other ten applications that are not in order. The Building Inspector has inspected the premises of all licensees and all are in compliance with the city code. ACTION REQUESTED Approve the applications( s ) and grant a . . . license to: Approve/ Table Applicant On Sale Off Sale Table Jim & Lucy' s Inc. X X 210 West 1st Avenue Table Friendly Folks Club, Inc. X 123 East 1st Avenue Approve Richard E. Cleveland X 828 East 1st Avenue Approve Art Berens & Sons, Inc. X 123 West 2nd Avenue Table Juba' s, Inc. X 1100 Minnesota Valley Mall Approve Superamerica Stations Inc. X 1155 East 1st Avenue Approve Cedar Fair Limited Partnership X One Valleyfair Drive Approve Holiday Stationstores X 444 East 1st Avenue Table Pizza Huts of the Northwest X 257 Marschall Road Table Brooks Superette, Inc. X 615 Marschall Road Approve Speedway Concessions, Inc. X 6528 T.H. 101 Approve Q Petroleum X 235 West 1st Avenue Table Coll-Prahm Inc. X 2400 East 4th Avenue Table Tom Thumb Food Markets X 590 So. Marschall Road Approve JBF Inc. X 823 East 1st Avenue Table Fraternal Order of Eagles X 220 West 2nd Avenue Table Kwai and Grace Poon X 237 East First Avenue Table Brooks Superette, Inc. #42 X 1147 Canterbury Road JSC/jms MEMO TO: John K. Anderson, City Administrator n V FROM: Judith S. Cox, City Clerk`s'_,L__ RE: Renewal of 1986-87 License to Only Allow Consumption and Display of Intoxicating Liquor (Set-ups ) DATE: May 29 , 1986 INTRODUCTION The following applicants have applied for a 1986-87 Set-up License. Two applications are in order at time time. Please approve those two and table the other two. ACTION REQUESTED Approve the applications and grant a 1986-87 License to Only Allow Consumption and Display of Intoxicating Liquor to: Approve Jim & Lucy' s Inc. 201 West 1st Avenue Approve Knights of Columbus Home Association, Inc. 1760 East 4th Avenue Table Coll-Prahm, Inc. 2400 East 4th Avenue Table Fraternal Order of Eagles 220 West 2nd Avenue JSC/jms t MEMO TO: John K. Anderson, City Administrator )C� a FROM: Judith S. Cox, City Clerk \J RE: 1986 Intoxicating Liquor Licenses DATE: June 3, 1986 Introduction The following applicants have applied for 1986 Liquor License(s). Staff has checked for delinquent property taxes and utility bills. The building inspector has made inspections of the premises and all are in order except for Arnie's Friendly Folks Club. The following applications are in order for Council consideration, except as noted. Recommended Action Approve the application(s) and grant a 1986-1987 Off Sale, On Sale, Sunday, and/or Club Intoxicating Liquor License(s) to: Action Applicant On Sale Sunday Off Sale Club Table Pullman Club Inc. X X 124 W. 1st Avenue Table XX Corp. & Wittles Inc. X X X 1561 E. 1st Avenue Approve Clair's Bar, Inc. X X 124 South Holmes Table Valley Liquor Inc. X 1104 Minn. Valley Mall Table The Weiss Company, Inc. X 8522 East Highway 101 Table R. Hanover, Inc. X X 911 East lst Avenue Table S.E.L.F. Inc. X X 1135 East 1st Avenue Table VFW Post 4046 X X 132 East 1st Avenue Approve American Legion Club X X Post No. 2 1256 E. 1st Avenue On Sale Sunday Off Sale Club / Approve Knights of Columbus X X Home Assoc. Inc. 1760 E. 4th Avenue Table Minnesota Concessions, X X X Inc. 1100 Canterbury Road Approve Family Dining X 6268 Hwy 101 Approve CRE Restaurant Co. X X 1583 E. 1st Avenue Table Friendly Folks X X X 122 E. 1st Avenue Approve Riverside Liquors, Inc. X 507 E. 1st Avenue MEMO TO: John K. Anderson, City Administrator FROM: Judith S. Cox, City Clerk RE: Renewal of On Sale Wine License DATE: June 3 , 1986 INTRODUCTION The following applicant has applied for a 1986-87 On Sale Wine License. The application is in order. Please approve. ACTION REQUESTED Approve the application and grant an 1986-87 On Sale Wine License .to Cedar Fair Limited Partnership, One Valleyfair Drive. JSC/jms 1 � MEMO TO: John K. Anderson, City Administrator FROM: Judith S. Cox, City Clerk RE: Recording and Follow-up of Developers Agreements DATE: May 29 , 1986 Introduction On May 20th Council asked for a listing of documents which finan- cially encumber property ie: developers agreements, special assessments, waivers of future assessments, etc. Background 1. Developers agreements required at the time of platting address the construction of required public improvements . Either the developer constructs or the City is requested x to construct the improvements. If the City is requested to construct the improvements, the developer also signs a petition waiving the contesting of the special assessments. Both are recorded and are not released until all work is complete and assessments are paid. Copies are forwarded to Engineering for CIP. 2 . Developers Agreements required at the time of platting which address future assessments are also recorded. Copies will be forwarded to Engineering for CIP. 3 . Special assessments adopted by Council, but deferred because they are of no benefit now, are certified in total to the County Auditor with instructions not to put them on the taxes until the date given by the Finance Director ( as contained in the resolution) . When they are no longer deferred they are handled as in 5 . below. An assessment search requested from the Finance Director will include these deferred special assessments, which can be paid at any time, even prior to their being put on the tax statements. 4 . Special assessments become pending when the Council orders a project. The assessment list of property owners is filed with the Finance Department and when assessment searches are requested, they are so noted by Finance. 5 . When an assessment roll is adopted by Council, the Finance Director certifies the whole roll to the County Auditor and makes corrections to it once a year prior to October 10th, removing paid up assessments. One tenth of the initial special assessment is placed on the tax statement each year until paid in full. Special assessment searches , prepared by the Finance Department when requested, include the balance of the initial special assessment which has not appeared yet on the tax statements. 6 . When a waiver from contesting future assessments is requested by Council, it is filed with the County Recorder. In the case of the requested improvements for the car wash on Market Street, the waiver will also be filed in the property data file in the building department. In the case of the Scottland sanitary sewer extension waiver it will also be filed in the property data file. All documents which put future monitary conditions on the property are filed. If they are not filed, they are not binding on future property owners. Summary Developers agreements , waivers of contesting assessments , agreements for plats, deeds , easements , vacations (when abstract property) etc. are recorded. Pending special assessments and levied special assessments are p not recorded but, Finance provides this information when assessment searches are requested. JSC/jms 1780 CITY OF SHAKOPEE CHECK REGISTER 06-03-86 PAGE 1 CHECK 140. DATE AMOUNT VENDOR ITEM DESCRIPTION ACCOUNT NO. INV. N P.O. # MESSAGE 148024 05/28/86 825.79 ASSOCIATED ASPHALT SURFACE MAT 01-4215-429-42 825.79 * f t f f t 4 4 4*-C K J 148030 05/2:3/96 30.00 ASSN.METRO.MUN. CONF B SCHOOLS 01-4390-111-11 148030 05/28/3E 15.00 ASSN.IIETRJ.MUN. CDNF d SCHOOLS 01-4390-121-12 45.00 * ...r.# t**-CK:; 148049 05/28/,36 50.42 CARS 8 TURBO SY INC EQUIP MAINT 01-4232-312-31 148049 05/26/8E 344.66 CARS K TURBO SY INC CAPITAL EQUIP 01-4511-312-31 395.08 * rr•t44 ***-CK1 14308U 05/28/86 1,035.83 BARTON-ASCiMAN PROF SERV 27-4310-548-41 35849 1,035.43 * f!tlft kt4-CKS 1480d2 05/2d/BE 29266.65 CAPESTUS AGENCY INSURANCE 01-4350-321-32 2,266.65 * 4rt4rr ftt-CK1 148090 C5/28/86 115.44 CHAPIN PUBLISHING PRINT & PUB 73-4350-522-41 50427 115.44 * #!#444 ***-CK.; 148038 05/28/96 21.04 COMM OF TRANS PROF SERV 27-4310-546-41 44237 21.04 * r44t44 ***-CKS 148102 05/28/86 69.91 COPY EQUIP. INC. SUPPLIES 01-4210-411-41 129869 69.91 * !4lt4# ***-CKS 148205 05/28/8E 10.00 LEROY HOUSER SUPPLIES 21-4210-543-41 143205 05/211/86 10.00 LEROY HOUSER SUPPLIES 61-4210-549-41 148205 05/23/BE 10.00 LEROY MOUSER SUPPLIES 62-4210-537-41 148205 05/2d/8E 10.00 LEROY HOLSER SUPPLIES 62-4210-541-41 148205 05/28/8E 10.00 LEROY HOUSER SUPPLIES 62-4210-550-41 50.00 * tllkf. ***-CK 141210 05/23/86 6,645.00 HOISINGTON GR INC PROF SERV 01-4310-175-17 6,645.00 4 t#l4fr •**-CKS 1')86 CITY OF SHAKOPEE CHECK REGISTER L'6-03-86 PAGE 2 CHECK NO. MATE AMOUNT VENDOR ITEM DESCRIPTION ACCOUNT NO. INV. N P.O. h MESSAGE 148225 05/28/8E 21.00 JUDY HUGHES PROF SERV 14-4310-142-14 148225 J5128/86 21 UO JUDY HUGHES PROF SERV 16-4310-231-23 42.00 * •rr*r* ***—CKS 144237 05/2d/dE 465.44 INDUSTRIAL DOOR HLOG MAINE 1)1-4230-311-31 54314 465.44 * *r**rr **r—CKS 148297 05/28/86 1032.61 LOGIS RENTS 01-4380-152-15 48624 148291 05/28/8E 301.95 LOGIS RENTS 01-4380-153-15 48624 148297 05/28/86 125.18 LOGIS RENTS 01-4380-154-15 48624 148291 05/28/86 19313.38 LOGIS RENTS 73-4380-731-73 48624 3x073.12 • tttttt ***-CKS 148323 05/28/86 136.00 MARS.A HEAf1NG AIR BLDG MAI"JT 01-4330-311-31 136.00 *t***« ***—CKS 148341 05/28/86 19915.29 MOTOROLA ['4C. CAPITAL EOUIP 01-4511-311-31 427024 1,915.29 • ..r*.. *t*-CKS 148395 05/28/86 173.40 NSP UTILITIES 01-4370-427-42 173.40 rrrtr* *r*—CKS 148412 05/28/86 99339.35 ORR—SCH—MAYR eL AS PROF SERV 73-4310-522-41 99339.35 ...... ***-CKS 14H428 05/2H/8E 375.00 PETER PATCHIN K AS PROF SERV 28-4310-545-41 8533 375.00 * ***-CKS 148498 05/24/86 29.22 SCOTT CTY COLLECT SUPPLIES 01-4210-156-15 14647 29.22 * ..r.«* ***-CKS 1485013 05/28/86 105.00 SOUTHWEST SUBURBAN PRINT & PUB 01-4350-131-13 143508 05/28/86 105.00 SOUTHWEST SUBURBAN PRINT & PUB 01-4350-171-17 210.00 * t*t*.. t**-CKS 1 ) 15 CITY OF SHAK,PEE CHECK REGISTER 06-03-86 PAGE 3 CHECK N0. DATE AMOUNT VENOOi ITEM DESCRIPTION ACCOUNT NO. INV. 0 P.O. 4 MESSAGE 14823 G5/28/8E 182.00 STEMMER FARM k GAR. SURFACE MAT 01-4215-622-62 182.00 + •..t.f ff+-CKS 143530 05/23/86 75.00 SIGNS OF QUALITY CONTINGENCY 01-4991-911-91 215 75.00 c.4fr• rrr-CKS 148533 05/28/3b 12.75 BARRY STOCK TRAVEL 8 SUBSIST 16-4330-231-23 12.75 • rrrttt rtr-CKS 148545 05/23/BE 110.65 SNAP-ON TOOLS CORP SUPPLIES 01-4210-441-44 051485 110.55 rttttf ffr—CK:i 148547 05/28/86 21.28 JUDITH M. SIMAC TRAVEL K SUBSIST 01-43.30-171-17 21.28 r rrf tr. ttr-CK;i 148591 05/28/86 172.11 VALLEY TEMP PROF SERV 01-4310-171-11 172.11 r ftr►f. ftt-CKS 148600 05/28/86 26.92 DREGS VOXLANO TRAVEL B SUBSIST 01-4330-151-15 26.92 t r.r r r• 4 r r-CK:i 14d603 05/2.3/86 494.76 VALLEY TIRE SERVICE EQUIP M4INT 01-4232-312-31 97674 494.16 r •trr4. r -CK:i 148619 05/2-1/86 326.70 WEST PUBLISHING PRINT & PUB 01-4350-311-31 65778 326./0 t **--CK , 148624 0'.j/23/8E 61.50 WAHL 8 WAHL INC EQUIP MAINT 14-4232-142-14 81559 61.50 f f k k t t t -**—CK'-; 148629 0`1/23/8E 586.38 WEST400D PLAN. INC. PROF SERV 26-4310-539-41 5268 586.38 f rrrftt •rr-CK:i 1)86 CITY OF SHAAJPtE CHECK REGISTER 06-03-86 PAGE v CHECK NO. DATE AMOUNT VENDOR ITEM DESCRIPTION ACCOUNT NO. INV. 0 P.O. 9 MESSAGE 148800 05/28/86 7.33 GLADYS GREEN SEWER SERV CHG 71-3651-000-00 7.33 r 1,48801 0512918E 44.00 MINN COMMERCE DEPT DUES & SUBSCRIPT 01-4391-411-41 161855 44.00 + 148802 05/28/86 296.55 SHAKOPEE BOY SCOUTS PROF SERV 01-4310-178-17 296.55 r 148303 C5/29/8E 79.00 SUPER B MJTEL PROMOTIONS 14-4319-142-14 1013 79.00 • 14880,4 05/23/86 150.00 SCOTT CTY HRA PROF SERV 15-4310-191-19 150.00 r 148805 05/2 1/.31 19325.00 SHAK COMM AC CORP PROF SERV 16-4310-231-23 19325.00 • 148806 05/29/8E 288.00 WARNING LITES INC OTHER IMPROV 27-4519-548-41 41713 288.00 • 149801 05/24/8t 253.00 LLOYD COPA INC SUPPLIES 01-4210-911-91 253.00 • r..r.r r..-CK3 14904) 05/23/8E 344.66- CARB S TURBO SY INC CAPITAL EQUIP 01-4511-312-31 14)049 05/29/86 344.66 CARB & TURBO SY INC CAPITAL EQUIP 01-4511-312-31 .00 r ..r..r •rr-CKS 169940.09 FUND 01 TOTAL GENERAL FUND 161.50 FUND 14 TOTAL TRANSIT 150.00 FUND 15 TOTAL HRA 19358.15 FUND 16 TOTAL CABLE 10.00 FUND 21 IOTAi_ CAPITAL IMPROVE. FUND 586.38 FUND 26 TOTAL DOWNTOWN REDEVELOPMENT 19344.87 FUND 21 TOTAL RACETRACK 375.00 FUND 28 TOTAL BYPASS 10.00 FUND 61 TOTAL 1985 IMPROVE. 30.00 FUND 62 TOTAL 1986 IMPROVEMENT 7.33 FUND 11 TOTAL SEWER FUND 109768.17 FUND 7' TOTAL STORM DRAINAGE UTILITY 319742.09 TOTAL Month May Page 3 ACCOUNTS PAYABLE LEDGER 1986 S� Debit Acct. Cr. Acct. Amount Batch Remarks Ck. No. Vendor Ck. Amt. o1.4320.319. 31 01.1010 $ 8.80 Postage 21135 City of Shakopee $ 73.4320. 522.41 73.1010 3.18 Postage 21135 it 26.4310.197. 1.9 26.1010 10.70 Prof. Sery 21135 to 01.4310.121.12 01.1010 22. 50 Prof. Sery 21135 " 01.4232.421.42 01.1010 33.25 Equip Maint 21135 78.43 81.4926.000.00 81.1010 238.70 Remit Cancer Ins. 21161 Am Fam Life Assur 238.70 01.4321.311.31 01.1010 37.48 Telephone 21162 AT & T 01.4321.151.15 01.1010 4.78 of 21162 " 16.4321.231.23 16.1010 8.42 1121162 " 01.4321.121.12 01.1010 19.48 it21162 " 01.4321.171.17 01.1010 6.87 1021162 " 01.4321.411.41 01.1010 3.22 go21162 " 01.4321.421.42 01.1010 7.46 21162 " _01.4321.321. 32 01.1010 3.29 " 21162 " 91.00 01.4390. 311. 31 01.1010 45.00 Conf. & Schools 21163 Prime Learn Inst 45.00 01.4210.312.31 01.1010 21.55 Supplies 21164 SuperAmerica ol.4222. 312. 31 01.1010 56.88 Motor Fuel 21164 of 78.43 81.4928.000.00 81.1010 lo9.o8 Remit Medicare 21165 D.O.E.R.S.S. 109.08 81.4922.000.00 81.1010 10,153.94 Remit FICA 21166 D.O.E.R.S.S. 10,153.914 81.4932.000.00 81.1010 156. 6o Remit Uniform Rent 21167 Unitog Rental Sery 01.4210.441.44 01.1010 23.16 Supplies 21167 179.76 81.4927.000.00 81.1010 100.00 Remit Defer Comp 21168 IDS 100.00 81.4927.000.00 81.1010 2,480.00 Remit Defer Comp 21169 PEBSCO 2,480.00 81.4920.000.00 81.1010 7,038.25 Remit FIT 21170 lst Natl - Shakopee 7,038.2 81.4921.000.00 81.1010 3,070.66 Remit SIT 21171 Comm of Revenue 3,070.6E 81.4931.000.00 81.1010 1,150.00 Remit Payroll Sav 21172 lst Natl - Shakopee 1,150.0( 81.4923.000.00 81.1010 6,945.38 Remit PERA 21173 PERA 6,945.3E 01.4991.911.91 01.1010 4,334.94 Contingency 21174 Viking Audio 4,334.911 01.4390.121.12 01.1010 48.00 Conf & Schools 21175 League of MN Citites 01.4390.111.11 01.1010 58.00 1121175 of106.0( 01.4390.111.11 01.1010 73.50 Conf & Schools 21176 " ol.4390.121.12 01.1010 73. 50 of21176 147.0( $3� 346.57 $3�,3- 5? Month May Page 4 ACCOUNTS PAYABLE LEDGER 1986 Debit Acct. Cr. Acct. Amount Batch Remarks Ck. No. Vendor Ck. Am L. FUND TOTALS 01 - General Fund $ 4,881.66 16 - Cable 8.42 26 - Downtown Redevelopment 10.70 73 - Storm Drainage Utility 3.18 81 - Payroll Trust _31 442.61 $3 •57 MEMO TO: John K. Andersen, City Administrator FROM: Ken Ashfeld, City Engineer /Zov_ SUBJECT: CSAH 17 Road Improvement DATE: May 30, 1986 INTRODUCTION: Scott County is preparing to commence roadway improvements to CSAH 17 from CSAH 42 to 11th Avenue within the City of Shakopee. BACKGROUND: In conjunction with the roadway improvements the plans call for storm sewer improvements as well. Based upon the Scott County cost participation policy, the City is responsible for a cost sharing of $51 , 202. 77 based upon bid prices and estimated quantities. RECOMMENDATION : Since this is a state-aid project, the City can use state aid funds for its share of the project cost. Since Shakopee' s State- Aid Fund is in excess of that allowed, I recommend that course of action. The maximum amount of state aid funds that can be used on the storm sewer portion of this project is $51 , 899. 75 as determined by Mn/DOT. That is the amount that is reflected in the reso- lution. If storm sewer cost overruns are in excess of the $696. 98 difference, the additional funds can be generated by the storm sewer utility. Since Municipal State-Aid Funds, as proposed, are being expended on a County State-Aid project versus a Municipal State-Aid pro- ject, Resolution No. 22567 must be adopted. REQUESTED ACTION : Offer Resolution No. 2567, A Resolution Authorizing Expenditure of MSAS Funds on County State Aid Highway 17 from County State Aid Highway 42 to 11th Avenue and move for its adoption. KA/pmp MEM2567 / 3 RESOLUTION NO. 2567 A Resolution Authorizing Expenditure of M5A5 Funds on County State Aid Highway 17 from County State Aid Highway 42 to 11th Avenue WHEREAS, it has been deemed advisable and necessary for the City of Shakopee to participate in the cost of a construction project located on C.S .A.H . No. 17 within the limits of said municipality. WHEREAS, said construction project has been approved by the Commissioner of Transportation and identified in his records as S .A .P. No. 166-108-03. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE MINNESOTA, that we do hereby appropriate from our Municipal State-Aid Street Funds the sum of 551,899.75 dol- lars to apply toward the construction of said project and request the Commissioner of Transportation to approve this authorization. Adopted in session of the City Council of the City of Shakopee, Minnesota, held this day of 19 Mayor of the City of Shakopee ATTEST: City Clerk Approved as to form this day of , 19 City Attorney MEMO TO: Jahn K. Anderson, City Administrator FROM: Ken Ashfeld, City Engineer SUBJECT: Valley Park Drive Feasibility DATE: May 30, 198E INTRODUCTION & BACKGROUND: Acting upon a petition by Bradford Properties, Council ordered a feasibility study for intersection improvements to Valley Park Drive from its intersection with TH 101 to approximately 350 feet North. The preliminary draft of that study has been completed and is awaiting appraisal information to complete the final draft. The City has received a request from Valleyfair to study the feasibility of a frontage road running west of the aforestated study area along the north side of TH 101 . Before acting upon that request, Council directed Engineering to return with a cost estimate of the feasibility study. As stated, the feasibility study for intersection improvements is in its draft state. To date, the cost of that study is $2, 935. 76 which includes the preliminary feasibility report, preliminary design and design drawings for interim improvements that was proposed for spring, 1986. Due to schedule changes, the interim improvements will not be completed. The costs in- curred to this point are due to in-house engineering. The request to include the frontage road in the feasibility study stated for that portion extending ' to the west end of the Valleyfair parking lot and to also consider an extension to the Valleyfair service road and campground entrance. It has also been stated that the study area should extend to the Peavy service road. For the purpose of estimated costs, I will assume the larger project area. Also, based upon quotes received from Sheneh��n & Associates, for cost/benefit appraisals to all affected proper- ties, the estimated costs will constitute a range as follows: Appraisals $2, 9o0. 00 to $ 4, 100- 00 Subsurface Exploration $ 1, 800. 00 Engineering $ 3, 500. 00 to $4, 500. 00 Total Cost $8, 200. 00 to $10, 400- 00 These costs would become part of project cost if a project be- comes a reality. Valley park Drive Feasibility May 30, 198E Page RECOMMENDATION : Order the feasibility report studying improvements to Valley Park Drive North be expanded to include a frontage road running west of Valley park Drive along the north side of TH 101 to the peavey service road at County Road 83. REQUESTED ACTION : Offer Resolution No. 2562, A Resolution Ordering the Preparation of a Report on an Improvement, TH 101 North Frontage Road from Valley Park Drive North to County Road 83 Extended and move for its adoption. KA/pmp VPDRIVE 1 .3� RESOLUTION NO. 2562 A Resolution Ordering The Preparation Of A Report On An Improvement Trunk Highway 101 North Frontage Road from Valley Park Drive North to County Road 83 Extended WHEREAS, it is proposed to improve Trunk Highway 101 North Frontage Road from Valley Park Drive North to County Road 83 Extended by frontage road improvements and to assess the bene- fitted property for all or a portion of the cost of the improve- ment, pursuant to Minnesota Statutes, Chapter 429. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA, that the proposed improvement be referred to the City Engineer for study and that he is instructed to report to the Council with all convenient speed advising the Council in a preliminary way as to whether the proposed improvement is feasible and as to whether it should best be made as proposed or in connection with some other improvement, and the estimated cost of the improvement as recommended Adopted in session of the City Council of the City of Shakopee, Minnesota, held this day of 19 Mayor of the City of Shakopee ATTEST: City Clerk Approved as to form this day of 19 City Attorney MEMO TO: John K. Anderson, City Administrator /f 3 FROM: Barry A. Stock, Administrative Aide RE: Resolution No. 2568 Supporting Flying Cloud Sanitary Landfill Expansion Application DATE: May 29 , 1986 Introduction & Backaround: Woodlake Sanitary Services, Inc. has applied to the Environ- mental Quality Board, the Minnesota Pollution Control Agency, Metropolitan Council and Hennepin County for an amendment to their solid waste disposal permit governing the Flying Cloud Sanitary Landfill to enable them to dispose of an additional 576 acre feet of solid waste and cover materials at the landfill. Without the approval of the variance/amendment, the Flying Cloud Landfill will exhaust its capacity by October 1, 1986 . Termination of waste disposal at the Flying Cloud Landfill would result in diversion of waste to the Woodlake, Louisville, Burnsville and Pine Bend landfills. Since the Louisville Landfill is relatively proximate to the waste shed and has the lowest current drop charge, it will receive the greatest portion of diverted waste. The Louisville Landfill currently has approximately 328 acre feet of capacity remaining and is using capacity at approximately 160 acre feet per year. It is perdicted that the diversion of waste from the Flying Cloud landfill would more than double the amount of refuse received annually at the Louisville landfill and exhaust its remaining permitted capacity in less than one vear. The termination of waste disposal at the Flying Cloud Landfill would also result in the diversion of approximately 340 trucks ( 680 trip-ends ) daily to alternative landfills in the Metropolitan area. Approximately 280 daily trip-ends are expected to divert to the Louisville Landfill. This situation would aggravate an already difficult traffic situation in downtown Shakopee. Because of the adverse affects that the closure of the Flying Cloud Sanitary Landfill would have on the City of Shakopee and it ' s residents , staff is proposing Resolution n 2568 , for City Council approval. The resolution simply supports the granting of a variance and limited expansion permit for the Flying Cloud Landfill. Pending Council approval c the resolution, staff would forward copies of the resolution to the Environmental Quality Board, Minnesota Pollution Control Agency, Metropolitan Council and Hennepin County. Alternatives : 1. Move to approve Resolution # 2568 , Supporting the Granting of a Variance and Limited Expansion Permit for the Flying Cloud Landfill. 2 . Do not approve Resolution # 2568 . Staff Recommendation: Staff recommends alternative #l. Action Reauested: Offer Resolution # 2568, A Resolution Supporting the Granting of a Variance and Limited Expansion Permit for the Flying Cloud Landfill and move for its adoption. RESOLUTION NO. 2568 A RESOLUTION SUPPORTING THE GRANTING OF A VARIANCE AND LIMITED EXPANSION PERMIT FOR THE FLYING CLOUD LANDFILL WHEREAS, according to the Metropolitan Council ' s Solid Waste Management plan, each Metropolitan county is responsible for the recovery and/or disposal of their respective solid waste streams ; and, WHEREAS, Hennepin County generates over 500 of the solid waste in the Metropolitan Area and currently disposes of only approximately 50% of that waste in its jurisdiction; and, WHEREAS, Hennepin County needs adequate disposal capacity for residuals to help assure the success of any proposed resource recovery project; and, WHEREAS, the Flying Cloud Landfill in Hennepin County, which currently receives a substantial portion of Hennepin County' s solid waste, may have to terminate disposal operations in October 1986 unless a Variance and Limited Expansion Permit are granted by the Environmental Quality Board, the Minnesota Pollution Control Agency, the Metropolitan Council and Hennepin County; and, WHEREAS, if the Flying Cloud Landfill were closed, it is predicted that the remaining capacity at the Louisville Landfill would be exhausted in less than one year; and WHEREAS, if the Flying Cloud Landfill were closed, approximately 280 daily trip ends are expected to divert 10 the Louisville Landfill via TH-1669 through Shakopee; and WHEREAS, the City of Shakopee has gone on record expressing c safety concerns over truck traffic through downtown Shakopee. NOW THEREFORE, BE IT RESOLVED: The City of Shakopee hereby supports the granting of a variance and Limited Expansion Permit for the Flying Cloud Landfill so that it can continue to operate after October, 1986 in order to prevent the early closure of the Louisville Landfill and the aggravation of the truck traffic safety problems that already exist in Shakopee. Adcrted in session of the City Council of the City of Shakopee , Minnesota held this day of 1986 . Mavor ATTEST. City Clerk Approved as to form this day of 1986 . City Attorney l� MEMO TO: John K. Anderson, City Administrator FROM: Judith S. Cox, City Clerk RE: Granting a Liquor License Prior to Construction of Building DATE: May 30 , 1986 Introduction On May 6th Council directed staff to research the possibility of reserving liquor licenses for unconstructed facilities . Background If you will recall our city code requires that the building be inspected and that a certificate of occupancy be issued by the building inspector prior to issuance of a license. The city code also requires a dram shop insurance policy, which insurance companies seem unwilling to write for a non-existent facility. The City Attorney, with the aid of our codifiers, has prepared the attached ordinance. The ordinance provides that the Council may in its sole discretion and in the case of a new facility, grant an application for a license but direct that the license shall not be issued until the applicant has fully complied with all of the requirements of the city code relative to issuance of a certificate of occupancy and submission of a dram shop insurance policy. All other conditions must be met prior to Council granting an application for a license -- completion of application form, paying license fee, surety bond, etc. This reservation of a license is limited to 12 months , after that a new application must be made. The city code currently provides for the pro-rating of On Sale Liquor License fees, with a minimum fee equal to six months. The way this new ordinance is drafted, it will not allow the pro-rating of license fees for facilities unconstructed. A full year ' s fee will be charged whether the application beginning date is July 1st, January lst or June 1st. If Council wishes this to be different, the ordinance should be sent back to staff to be re-written. Alternatives 1 . Adopted Ord. No. 195 - if the City desires to .attract new construction where a liquor license is desirable, and the reservation of a license is necessary, our existing requirements in the code need to be eliminated. Staff does not recommend eliminating the issuance of a certificate of occupancy not dram shop insurance. 2. Do not adopt Ord. No. 195 - this will continue to permit liquor licenses only for existing facilities. 3 . Direct staff to re-write the ordinance as drafted. Recommended Action Offer Ordinance No. 195 , An Ordinance of the City of Shakopee, Minnesota, Amending City Code Chapter 5 Entitled "Liquor, Beer and Wine Licensing and Regulation" , By Adding Provisions Providing For Delayed Issuance of License; and By Adopting By Reference, Shakopee City Code Chapter 1 and Section 5 . 99 Which, Among Other Things , Contain Penalty Provisions , and move its adoption. JSC/jms ORDINANCE NO. 195 AN ORDINANCE OF THE CITY OF SHAKOPEE, MINNESOTA, AMENDING CITY CODE CHAPTER 5 ENTITLED "LIQUOR, BEER AND WINE LICENSING AND REGULATION" , BY ADDING PROVISIONS PROVIDING FOR DELAYED ISSUANCE OF LICENSE, AND, BY ADOPTING BY REFERENCE, SHAKOPEE CITY CODE CHAPTER 1 AND SECTION 5 . 99 WHICH, AMONG OTHER THINGS, CONTAIN PENALTY PROVISIONS THE CITY COUNCIL OF SHAKOPEE, MINNESOTA, ORDAINS: SECTION I . Shakopee City Code, Section 5 . 02 entitled "Appli- cations and Licenses - Procedure and Administration" is hereby . amended by adding Item 3 to Subparagraph B of Subd. 3 , to read: B. Investigation and Certificates Required. 3 . Delayed Issuance of License. Notwithstanding the foregoing provisions of this Subparagraph B, or Subdivision 4 , Subparagraph B of this Section, the Council may, in its sole discretion and in the case of a new facility, grant an application for a license but direct that the license shall not issue until the applicant has fully complied with all of the requirements of this Subparagraph B and Subdivision 4 , Subparagraph B of this Section. The time lapse between Council action in granting the application and the issuance of the license shall be limited to a 12-month period and if compliance is not completed within such time a re-application shall be required. SECTION II . Shakopee City Code, Section 5 . 09 entitled "Financial Responsibility of Licensees" is hereby amended by adding Subdivision 4 , to read: Subd. 4 . Delayed issuance of License. Notwithstanding the foregoing provisions of this Sec. 5 . 09 , the Council may, in its sole discretion and in the case of a new facility, grant an application for a license but direct that the license shall not be issued until the applicant has fully complied with all of the requirements of this Sec. 5 . 09 . The time lapse between Council action in granting the appli- cation and the issuance of the license shall be limited to a 12-month period and if compliance is not completed within such time a re-application shall be required. SECTION III . Shakopee City Code Chapter 5 entitled "General Provisions and Definitions Applicable to the Entire City Code Including Penalty for Violation" and Section 5 . 99 entitled "Violation a Misdemeanor" are hereby adopted in their entirety, by reference, as though repeated verbatim herein. Ordinance No. 195 Page Two SECTION IV. After the adoption, signing and attestation of this Ordinance, it shall be published once in the official newspaper of the City of Shakopee and shall be in full force and effect on and after the date following such publication. Adopted in session of the City Council of the City of Shakopee, Minnesota, held this day cf 1986 . Mayor of the City cf Shakopee . ATTEST: City Clerk Approved as to form this ` day of 1980 . City Attorney JULIUS A- COLLIER, 11 JULIUS A.COLLER ATTOBNEY AT LAW 612-445-1244 IS S9-1940 - 2 1 1 WEST F I R S T AVENUE SHAKOPEE, i�TINNESOTA 553Z9 - May 19, 1986 Memo to: John A. Anderson, Judith Cox and Lou Van Hout From: Julius A. Coller, II, City Attorney RE: Appointment and terms of office of Utility Commissioners BACKGROUND Shakopee Public Utility Commission was established by the the then Common Council of the City of Shakopee in December of 1950 to become operative on April 1, 1951 and the original three commissioners were appointed with terms expiring at the end of March over a three year period. Thereafter members were appointed for a three year term beginning April lst. Recently the City Council adopted a policy of appointing all commissioner and committee members in January of each year with the term effictive as of the time of appointment. Problem: The Utility Commission prefers that members be appointed for the usual 3 year term beginning April lst of each year. Suggested Solution There are two obvious possibilities of handling this matter. They are: 1. Appoint commissioner members in January for a 3 year term beginning the following April lst. This would require no formal change of procedure; or 2. By Resolution of the Council change procedure of appointment to the Utilities Commission by moving the date of appointment from April to January and the appoint- ments to become effective as of the date of appointment. You cannot by this procedure change the terms of office now in existence but only future appointments. Suggestion Follow the first possible suggestion, namely, appoint in January to take effect the following April. This procedure should be establ ished by a Resolution and this Resolution should also confirm the appointment of Cook and Kirchmeier for terms expiring the end of March, 1989 and 1988 respectively. J� Action Recuested : Offer Resolution No . 2559 , A Resolution Establishing Date Appointments Shall Be Made to the Shakopee Public Utilities Commission and Date Office Shall be Assumed, and move its adoption. RESOLUTION NO. 2559 A RESOLUTION ESTABLISHING DATE APPOINTMENTS SHALL BE MADE TO THE SHAKOPEE PUBLIC UTILITIES COMMISSION AND DATE OFFICE SHALL BE ASSUMED WHEREAS , pursuant to City Code Sec. 2 . 50 , all Board and Commission appointments shall be filled by appointment at the first regular meeting in January of each year , with appointees assuming office on February 1st; and WHEREAS, Shakopee Public Utilities is excepted from this Section; and WHEREAS, it is desirable that appointments to all Board and Commissions be made at one time in order that recruitment activities can be handled simultaneously; and WHEREAS, Shakopee Public Utilities Commission prefers that appointees assume office to SPUC beginning April 1st of each year, which has been customary since April 1 , 1951 . NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA as follows: I . Appointments to the Shakopee Public Utilities Commission shall be made by appointment by the Council at the first regular meeting in January of each year. 2 . Appointments made in January to the Shakopee Public Utilities Commission shall become effective on April 1st of each year. 3 . The appointment of Barry Kirchmeier to the Shakopee Public Utilities Commission for the balance of a three year term ending March 31, 1988 is hereby confirmed. 4 . The appointment of Jim Cook to the Shakopee Public Utilities Commission for a three vear term ending March 31 , 1989 is hereby confirmed. Adopted in regular session of the City Council of the City of Shakopee, Minnesota, held this 3rd day of June, 1986 . Mayor of the City of Shakopee ATTEST: City Cierk Approved as to form this day of 1986 .