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HRA 02/08/1990 - 6386City of Fridley A G E N D A JOINT HOUSING & REDEVELOPMENT AUTHORITY /CITY COUNCIL MEETING FEB. 8, 1990 7:00 P.M. Location: Fridley Municipal Center 6431 University Avenue N.E. City Council Chambers CALL TO ORDER: ROLL CALL: APPROVAL OF MINUTES: December 14, 1989 (in January agenda) ACTION PENDING• OUTLINE OF DEVELOPMENT AGREEMENT FOR PROPOSED PRO - ENGINEERING PLANT . . . . . . . . . . . . .1 - lE RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR NORTHCO PHASE III AND PRO - ENGINEERING . . . . . . . . . . . .2 - 2H LONG RANGE TIF OPTIONS FOR THE SOUTHWEST QUADRANT . . . . . . . . . . . . . . . . . . 3 RESOLUTION DESIGNATING OFFICIAL DEPOSITORIES. . . . . . . .4 CLAIMS . . . . . . . . . . . . . . . . . . . . . . . . . . *5 INFORMATION: 57TH PLACE /RAPID OIL STATUS . . . . . . . . . . . . . . . .6 - 6A REDEVELOPMENT PROPOSAL FOR 10,000 AUTO PARTS SITE . . . . . . . . . . . . . . . 7 - 7F OTHER BUSINESS `� ADJOURNMENT OUSNG and REDEVELOPMENT AUTHORITY 1 COMMISSION MEMBERS: LAWRENCE COMMERS, CHARMAN DUAIiE PIRArRE VMGM SCHNABEL WALTER RASMUSSEN JOINT MEYER CITY OF FRIDLEY DATE: February 1, 1990 TO: Housing and Redevelopment Authority FROM: Jock Robertson, Executive Director of HRA BUWECT: Proposed Pro - Engineering Manufacturing Facility On August 10, 1989, the HRA gave concept approval for TIF grant assistance for the proposed $1 million manufacturing facility. Preliminary engineering studies have revealed that a storm sewer will have to be installed on Fireside Drive in front of the proposed site between Service America and Viking Chevrolet. The cost of the storm sewer has been estimated to be $26,000. Pro - Engineering President, Marvin Schmitz, has indicated he would be willing to pay half of the cost of the storm sewer; that is, $13,000 over the normal 20 year assessment period. The other $13,000 assessment would be paid by the HRA. Public Works informs us that this storm sewer deficiency is quite rare in Fridley and, therefore, will not create a significant precedent. Staff recommends that a development agreement be prepared for a $50,000 grant to Pro - Engineering upon certificate of occupancy of the project. The proposed facility will be a 25,000-28,000 sq. ft. concrete panel structure of a high quality architectural appearance. Mr. Schmitz will be present at the meeting to provide further details about the proposed facility. JR:ls M -90 -64 EXECUTIVE DIRECTOR: JOCK ROBERTSON 6431 UNIVERSITY AVE. ($12) 571 -3450 FRIDLEY, MN 55432 EXT. 117 1 -A R N //2 SEC. 14?. T. 3 -c/Ty OF FRIDLEY 2 I �' ' N CO N£A : �- N ♦ q4/ 0 A SE LA IP RT' P r•:;f: of �� r'° M WI�I •° 8R :, - - CITYu�ll�s:,� a 3 2 r 1 d I �� I t' P: / i i /CO. IeJ • e FIR �'� t 3 2 ON �a A DERSION DRIV JO /ot ee C (� /,' k k lP Q ti DEVELOPMENT z< W (3 "O) rt C ! 11 Z•� s .. !1 r r u�:i , t j '� 'r t_ /.' 1 O✓ R /ry Vi;G; h. .,t 1(, ,y) � 1 ID � �•pc �- II �� - .rc ^; .�: , e iQq� sus oi Ir it Q •.l ~ .•1Y �1 K• 4 Goo Y % ,t " �� � ~ FIR - - i . -- -1 CID FIRESIDE Inj W j WAENUT W ` I' 'MANOR CENTRAL 1 VIEW / P � Y :ta a 0 2nd ADDI om: •(!e!d- !sJ' s � 1 i `J 0'I (n � 3 fi{55 '(T.I ,d1.7! /P �l�)�« {{[/x/`[:.91 (J) ,u�..�• '! 1 i _ � d C �',r� ti f � � I�, . .. :wy fl��i Ai I { 9 tI o 7� /.+• .7 7 P� At rA A err GyA •'•- 731/2 AVE. N.E. c' 21(4 : ' 131= p`'�'� 14�[� r�rYIJFr 37; ��-!!! • 'ri ' ;.loo).• to f� Ptll �' t I r . i y� -•cdi. =-A'r- X10' L_� _ JIM IPI r/ /I CO�fG� / �j Sf .li l �I 33 24 13 6125351484 O; 25-89 WED 1 6: 2 3 O L S O N c o „ , • P 0 Mid-West CO /� $() r3 tJIe.OJOd-1.0 B oaa' . i) c� # 4 Z 3 4 0 0 a .3i' 2/ l t, 0 Si u4' 390- Zoal "' ©20. pA sE 'oZ _ 6,7`0 2 SETI�ACKS ; ��io�T'(sounr� /co-c'• I Rex /2 QNo er7i) Arm 'O FOJ S�Cty' (JNt.�ST� 35 -0 �. r� i4 (AwAsr ) I I -C PD .10 ,( pro engineering, incorporated 9444 deerwood lane • maple grove, minnesota 55369 • (612) -425 -1618 August 9, 1989 Mr. Jock Robertson Executive Director FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY 6431 University Avenue N.E. Fridley, Mn. 55432 RE: Procpecti.•c Dcvclopmcnt - Firccide Drivc, Fridicy Dear Jock; As discussed, Pro Engineering, Inc. is interested in building a new facility for its operation at 1201 Fireside Drive in Fridley. This is a 1.85 acres parcel between Service America Corporation and Viking Chevrolet. The building would be an approximate 24,000 square foot facility with a total development cost of around $1,000,000.00. Pro Engineering is a 15 -year old, long and short run metal stamp- ing operation which currently does business in eighteen states. The company will employ between 16 to 26 people. Our operation is well within all municipal noise pollution and hazardous sub- stance requirements. Pro Engineering currently owns and occupies a 14,000 square foot building in Maple Grove. One simple alternative would be to add on to this facility. However, as a Fridley resident, I would like to pursue moving the business closer to home. It appears that the financial incentive program offered by the Fridley HRA would make this move feasible. However without such a package, considering the moving costs: rewiring, replumbing & etc. of all the manufacturing equipment we now use, adding on in Maple Grove or building in another nearby community would clearly be more practical. Jock, I look forward to hearing from you and the Fridley HRA shortly. Sincerely, _ oe Mar n J. Schmidtz Pres. MJS /rlj long & short run metal stampings complete tooling facilities - ►i y _y r y o, ( �'4rA OOLING t 4 4r z .1i."fk•l� "7C`' =+ -mot?"+ I • J .ill .N, _ r • • rat I .:•1,;:r � 4 • Pro Engineering, Inc. was founded in 1973 and at that time we took v' d the stance that we would provide Quality, Dependability and "Quick Service ". As a Metal Stamping Vendor we otter these in order to alleviate long lead time which allows our Customers to cut ,, 07 r" down on costly inventories and line shut down while awaiting - parts. As a result, Pro Engineering has enjoyed seven years of con tinuous growth and a list of satisfied customers that will attest to ¢ ' the quality and service we strive for. ± E:r • i ' � : We now operate in our own 14,000sq. ft. plant with eighteen punch 1 presses ranging up to 110 ton capacity and complete Tool Room a facilities. With my 16 years of personal experience as a Tool and Die Maker and coupled with our experienced personnel, we can J provide quality and cost saving ideas in both temporary and per- _ - O manent Stamping Dies. We have accepted the challenge of short lead times and challenge you to give us the opportunity to demonstrate what we can do. We need you not only for today but to be our satisfied customer to f Y grow with us tomorrow. "s. �O #%1►#% ane4naP.rinn inenrnnrnted 9444 deerwood lone • maple grove, minnesoto 55369 • (614) -425 -1618 COMMUNITY DEVELOPMENT 1-E DEPARTMENT CJWOF FWDLEY MEMORANDUM DINE: January 18, 1990 William Burns, City Manager' FROM: Jock Robertson, Community Development Director SUBJECT: Northco and Pro - Engineering Economic Development Tax Increment Districts The City and HRA need to notify the School District and the County by January 26, 1990, and to publish a notice by February 7, 1990, that they are going to consider expanding the HRA's Development Program. The expansion would establish a short term Economic Development Tax Increment District to assist Northco with an 18,400 sq. ft. commercial /office building on the 2.4 acre loopback site south of 73rd and University Avenue, and also to assist Pro - Engineering with a 24,000 sq. ft. manufacturing plant north of Fireside Drive next to Viking Chevrolet. In order for the City and the HRA to position themselves to take advantage of all possible options to assist these projects, it is necessary to have an economic development tax increment district established by March 30, 1990. The Legislature is proposing to change economic development tax increment districts; and if they succeed, these sites may not qualify. If we are to proceed, the notice to the School District and County must be delivered 30 days prior to the public hearing called for the establishment of the district. Staff is suggesting that the hearing be held and the district be established at the February 26, 1990, City Council meeting; thus the appropriate notices must be delivered by January 26, 1990. JR:ls M -90 -36 OUSNG and REDEVELOPMENT AUTHORITY 2 COMMISSION MEMBERS: LAWRENCE COMMERS. CHARMAN B11AIE MARE V`RWNIA SCMNABEL WALTER RASMUSSEN JOHN MEYER CITY OF FRIDLEY DATE: February 2, 1990 TO: Housing and Redevelopment Authority FROM: Jock Robertson, Executive Director of HRA SUBJECT: Northco and Pro - Engineering Economic Development Tax Increment Districts The City and HRA have notified the School District and the County by January 26, 1990, and will publish a notice by February 7, 1990, that they are going to consider expanding the HRA's Development Program. The expansion would establish two short term Economic Development Tax Increment District to assist Northco with an 18,400 sq. ft. commercial /office building on the 2.4 acre loopback site south of 73rd and University Avenue (TIF District #10), and also to assist Pro- Engineering with a 24,000 sq. ft. manufacturing plant north of Fireside Drive next to Viking Chevrolet (TIF District #11). In order for the City and the HRA to position themselves to take advantage of all possible options to assist these projects, it is necessary to have an Economic Development tax increment district established by March 30, 1990. The Legislature is proposing to change economic development tax increment districts; and if they succeed, these sites may not qualify. If we are to proceed, the notice to the School District and County must be delivered 30 days prior to the public hearing called for the establishment of the district. The City Council has set the hearing for the February 26, 1990, City Council meeting to consider establishing the TIF districts. Staff recommends adoption of the attached Resolution whereby the HRA will: A. Approve modification of Redevelopment District No. 1, and approve the modified Redevelopment Plan relating thereto; B. Approve modification of TIF Districts 1 - 9; C. Approve and adopt the modified TIF plans relating thereto; EXECUTIVE DIRECTOR: JOCK ROBERTSON 6431 UNIVERSITY AVE. (*12) 671 -3460 FRIDLEYs BIN 65432 EXT. 117 North and Pro - Engineering Economic Development Tax Increment Districts February 2, 1990 Page 2 D. Approve creation of TIF Districts No. 10 and No. it and approve and adopt the proposed TIF plans relating thereto; E. Recommend a public hearing be held and the district be established at the February 26, 1990, City Council meeting. JR:ls M -90 -68 2 -A HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY COUNTY OF ANOKA STATE OF MINNESOTA RESOLUTION NO. A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 AND MODIFYING THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NO. 1 THROUGH NO. 9 TO REFLECT INCREASED PROJECT COSTS AND INCREASED GEOGRAPHIC AREA WITHIN REDEVELOPMENT PROJECT NO. 1; AND ESTABLISHING TAX INCREMENT FINANCING DISTRICTS NO. 10 AND NO. 11 AND APPROVING AND ADOPTING THE TAX INCREMENT FINANCING PLANS RELATING THERETO. BE IT RESOLVED by the Board of Commissioners (the "Commissioners ") of the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota (the "Authority "), as follows: Section 1. Recitals. 1.01. It has been proposed that the Authority modify Redevelopment Project No. 1 to reflect increased project costs and increased geographic area and approve and adopt a Modified Redevelopment Plan relating thereto, pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive, as amended and supplemented from time to time. 1.02. It has been further proposed that the Authority modify Tax Increment Financing Districts No. 1 through No. 9 to reflect increased project costs and increased geographic area within Redevelopment Project No. 1 and approve and adopt Modified Tax Increment Financing Plans relating thereto, pursuant to Minnesota Statutes, Section 469.174 through 469.179, inclusive, as amended and supplemented from time to time. 1.03. It has been further proposed that the Authority approve the establishment of proposed Tax Increment Financing Districts No. 10 and No. 11 and approve and adopt the proposed Tax Increment Financing Plans relating thereto pursuant to and in accordance with Minnesota Statutes, Section 469.174 to 469.179, inclusive, as amended and supplemented from time to time. 2 -B 2 -C 1.04. The Authority has investigated the facts and has caused to be prepared with respect thereto, a Modified Redevelopment Plan for Redevelopment Project No. 1 reflecting increased project costs and increased geographic area; Modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 9 reflecting increased project costs and increased geographic area within Redevelopment Project No. 1; and proposed Tax Increment Financing Plans for proposed Tax Increment Financing Districts No. 10 and No. 11, defining more precisely the property to be included, the public costs to be incurred and other matters relating thereto. 1.05. The Authority has performed all actions required by law to be performed prior to the modification of Redevelopment Project No. 1 and Tax Increment Financing Districts No. 1 through No. 9 and the approval and adoption of the Modified Redevelopment Plan and Modified Tax Increment Financing Plans relating thereto; and to the establishment of proposed Tax Increment Financing Districts No. 10 and No. 11 and the approval and adoption of the proposed Tax Increment Financing Plans relating thereto. 1.06. The Authority hereby determines that it is necessary and in the best interests of the City and the Authority at this time to modify Redevelopment Project No. 1 to reflect increased ,..� project costs and increased geographic area and to approve and adopt the Modified Redevelopment Plan relating thereto; to modify Tax Increment Financing Districts No. 1 through No. 9 to reflect increased project costs and increased geographic area within Redevelopment Project No. 1 and to approve and adopt the Modified Tax Increment Financing Plans relating thereto; and to establish proposed Tax Increment Financing Districts No. 10 and No. 11 and to approve and adopt the proposed Tax Increment Financing Plans relating thereto. Section 2. Findings. 2.01. The Authority hereby finds that the assistance to be provided through the adoption and the implementation of the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plans are necessary to assure the development and redevelopment of Redevelopment Project No. 1. 2.02. The Authority hereby finds that the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plans conform to the general plan for the development and redevelopment of the City as a whole. 2 2 -D ,4�1 2.03. The Authority finds that the Modified Redevelopment Plan, Modified Tax Increment Financing Plans and proposed Tax Increment Financing Plans afford maximum opportunity consistent with the sound needs of the City as a whole for the development and redevelopment of Redevelopment Project No. 1. Section 3. Approval of the Modification of Redevelopment Project No. 1 and the Approval and Adoption of the Modified Redevelopment Plan Relating Thereto. 3.01. The modification of Redevelopment Project No. 1 reflecting increased project costs and increased geographic area and the approval and adoption of the Modified Redevelopment Plan relating thereto are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. Section 4. Approval of the Modification of Tax Increment Financing Districts No. 1 through No. 9 and the Approval and Adoption of the Modified Tax Increment Financing Plans Relating Thereto. 4.01. The modification of Tax Increment Financing Districts No. 1 through No. 9 reflecting increased project costs and increased geographic area within Redevelopment Project No. 1 and the approval and adoption of the Modified Tax Increment Financing Plans relating thereto are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. Section 5. Approval of the Establishment of Proposed Tax Increment Financing Districts No. 10 and No. 11 and the Approval and Adoption of the Proposed Tax Increment Financing Plans Relating Thereto. 5.01. The establishment of proposed Tax Increment Financing Districts No. 10 and No. 11 within Redevelopment Project No. 1 and the approval and adoption of the proposed Tax Increment Financing Plans relating thereto are hereby approved and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for public hearing, review and approval. Section 6. Filing of Plans. 6.01. Upon approval and adoption of the Modified Redevelopment Plan, the Modified Tax Increment Financing Plans and the proposed Tax Increment Financing Plans (collectively the "Plans "), the Authority shall cause said Plans to be filed with the Minnesota Department of Trade and Economic Development. � 3 A /'-1� Adopted by the Board of Commissioners of the Authority this 8th day of February, 1990. ATTEST: Executive Director Chairman CERTIFICATION I, Jock Robertson, Executive Director of the Housing and Redevelopment Authority in and for the City of Fridley, County of Anoka, Minnesota, hereby certify that the foregoing is a true and correct copy of Resolution No. passed by the Authority on the 8th day of February, 1990. Jock Robertson, Executive Director 2 -E IV Public Trails /Recreational Improvements /Open Space Parking Street Lighting Demolition Relocation Architectural /Engineering Fees Administration Fees Total Maximum Estimated Total Bonded Indebtedness* 325,000 450,000 200,000 500,000 500,000 500,000 400,000 $11,078,000 $14,401,400 *This amount includes capitalized interest in an amount sufficient to pay interest on the bonds from the date of issue until the date of collection of sufficient tax increment revenues to meet scheduled interest payments when due. AS MODIFIED FEBRUARY 26, 1990 TAX INCREMENT FINANCING DISTRICT NO. 10 (NORTHCO PHASE III) Soils Correction $ 70,000 Administration Fees 4,967 Intersection Improvements to University Avenue Frontage Road and 73rd Avenue 20,000 Total $ 94,967 Maximum Total Estimated Bonded Indebtedness* $ 94,967 *This amount includes capitalized interest in an amount sufficient to pay interest on the bonds from the date of issue until the date of collection of sufficient tax increment revenues to meet scheduled interest payments when due. AS MODIFIED FEBRUARY 26, 1990 TAX INCREMENT FINANCING DISTRICT NO. 11 (PRO ENGINEERING) Storm Sewer $ 15,000 Soil Improvements and Preparation 50,000 Capitalized Interest 12,750 1 -, 16 2 -F 11-`1 2 -G Discount and Issuance Expense 3,400 Contingency 3,850 Total Amount of Bonds to be Issued $ 85,000 Administration Expense 10,716 Acquisition of Auto Salvage yards 100,000 Total Indebtedness* $ 195,716 *This amount includes capitalized interest in an amount sufficient to pay interest on the bonds from the date of issue until the date of collection of sufficient tax increment revenues to meet scheduled interest payments when due. Subsection 1.10. Public Improvements and Facilities Within Redevelopment Project No. 1. Publicly financed improvements within Redevelopment Project No. 1 include but are not limited to: a. The acquisition and sale and /or lease of the parcels identified in Subsection 1.7. hereof; b. Soil corrections, including excavation and backfill; C. Installation and /or upgrading of utilities and other public improvements; d. Development of proper traffic circulation patterns and improved ingress and egress on public and private roadways; e. Funding of the Reserve Program; and f. Other authorized uses as provided by State law. (The following amendment of Subsection 1.10 to the Modified Redevelopment Plan was approved November 18, 1985.) Additional public improvement costs to be incurred within Redevelopment Project No. 1 and to be financed by tax increments derived from all tax increment financing districts within Redevelopment Project No. 1 are estimated to be: Land Acquisition $3,500,000 Streets, Intersections, Walkways and Lighting 4,100,000 Parking Facilities 1,500,000 Soil Correction, Drainage and Landscaping 2,300,000 1 - 17 EXHIBIT I -A -4 DESCRIPTION OF ADDITIONAL PROPERTY WITHIN REDEVELOPMENT PROJECT NO. 1 AS MODIFIED FEBRUARY 26, 1990 Tax Increment Financing District No. 10 P.I.N. 11- 30 -24 -31 -0002 Tract A of Registered Land Survey #78 Tax Increment Financing District No. it The east 263.96 feet of the west 863.96 feet of the north 330 feet of the southeast 1/4 of the northwest 1/4 of section 12, Township 30, Range 24, Anoka County, Minnesota, subject to easements of record, if any. I -A -4 2 -H OUSNG and REDEVELOPMENT AUTHORITY 3 COMMISSION MEMBERS: LAWRENCE COMMERS. CHARMAN MIME PRIIRE VROMA sCHNASEL WALTER RASMUSSEN JOHN MEYER CITY OF FRIDLEY DATE: February 2, 1990 TO: Housing and Redevelopment Authority FROM: Jock Robertson, Executive Director of HRA SUBJECT: Long Range TIF Options for Remaining Parcels in the Center City TIF District I alerted you at the December meeting that recent changes in the state TIF legislation will restrict our options in completing the remaining undeveloped parcels in the Center City Redevelopment District. Of prime concern is the 10 acre southwest quadrant. At that time, I indicated that we had asked financial consultants, Jim Casserly and Springsted, to review the options available to the HRA and make recommendations. n The consultants have completed their review and recommendations which involve the financing of additional debt to extend the life of the district beyond the present end year 2001, out an additional 8 or 9 years. Staff is presently reviewing the two consultants' reports and will provide recommendations at the meeting. We have invited the City Council to attend this meeting so that, hopefully, a consensus may be reached on this important policy matter. 111�1 JR:ls M -90 -71 EXECUTIVE DIRECTOR: JOCK ROBERTSON 6431 UNIVERSITY AVE. ($12) 571 -3450 FRIDLEY, MN 55432 EXT. 117 RE9OIUPION No. ma - 1990 Y:1' I• ;:• 110 I i• B1• � �1 • 1?i 1 Y:'• ' IT IS HEREBY RESOLVED that the Fridley State Hank is hereby designated as a depository for the funds of this corporation. IT IS FUIMM RESOLVED that checks, drafts or other withdrawal orders issued against the funds of this corporation on-deposit with said bank shall be signed by two of the following: Richard D. Pribyl, Finance Director - Treasurer William W. Horns, City Manager Julie M. Burt, Assistant Finance Director and that said bank is hereby fully authorized to pay and charge to the account of this corporation any checks, drafts, or other withdrawal orders. BE IT FURIHER, RESOLVED that all transactions, if any, relating to deposits, withdrawals, re- discounts and borrowings by or on behalf of this corporation with said bank prior to the adoption of this resolution be, and the same hereby are, in all things ratified, approved and confirmed. BE IT FUMM RESOLVED that any bank or savings and loan may be used as depositories for investment purposes so long as the investments comply with authorized investments as set forth in Minnesota Statutes. BE IT FURIHER RESOLVED that the signatures of two of the following named City employees are required for withdrawal of HRA invest funds from savings and loan associations: Richard D. Pribyl, Finance Director Treasurer William W. Burns, City Manager Julie M. Burt, Assistant Finance Director BE IT FURIHER RESOLVED that any brokerage firm may be used as a depository for investment purposes so long as the invests comply with the authorized invests as set forth in Minnesota Statutes. PASSED AND ADOPIED BY r= HOUSING AND R=VELOPNENT ALMRP= OF r i OF FRIDIEY r= DAY OF , 1990. 304p• I 1 • • E" CLAIMS (at meeting) 5 OUSNG and REDEVELOPMENT AUTHORITY 6 COMMISSION MEMBERS: LAWRENCE COMMERS, CMARMAN BUAIE PRA/NE n10MA SCIWABEL WALTER RASMUSSEN JOHN MEYER CITY OF FRIDLEY DATE: February 2, 1990 TO: Housing and Redevelopment Authority FROM: Jock Robertson, Executive Director of HRA SUBJECT: Status of 57th Place Soil Investigations Last week Ashland Oil released to us a full copy of the report from Delta Environmental on the extent of ground water and soil pollution on the site. The Pollution Control Agency (PCA) is currently reviewing the report. Best estimates for the final recommendations and agreement with Ashland Oil are for later this month. Rob Goltz of the PCA indicated he believes the recommended mitigating measure will be the pumping of ground water for approxi- mately two years. Public Works estimates that the cost of this mitigation may be in the neighborhood of $200,000. In the meantime, Jack Lemley of Ashland Oil has indicated that Ashland will sign a letter of agreement with the PCA agreeing to clean up the site. It would appear that when the agreement is reached between the PCA and Ashland Oil on the clean -up and a better idea is gotten of the actual expense and the intended legal exposure, the HRA can bring this item off the table. Staff has contacted Winfield Development to ascertain how committed they are to proceed with their original proposal in the light of its being tabled for almost a year. I hope to have an update ready for the meeting. JR:ls M -90 -70 /1--49 EXECUTIVE DIRECTOR: JOCK ROBERTSON dos 1 UNIVERSITY AVE. (4 12) 571 -3450 FRIDLEY, NN 55432 EXT. 117 H 6 -A VALVOLINE INSTANT OIL CHANGE, INC. P.O. Box 14046 Lexington, Kentucky 40512 A rir.n..mb�,. 19 ; 1939 Telephone (606) 268-7100 :,i.i . Jock Robertson ConuDunity Development Director/ Executive Director of the HRA RE: Environmental Study Rapid Oil Site 57th & University Avenue Fridley, Minnesota Dear Jock: This letter will confirm our conversation of last weep: whereas Ashland will clean up the Rapid Oil site at the northeast corner of 57th & University Avenue as recommended in the Delta Environmental Consultants Report dated December 1, 1989 or as. recommended by the PCA. It is hopeful that the HRA will be able to make a decision at their January 11th meeting as to whether -they still want to condemn this property or not. If anymore information is needed, please contact the undersigned. Sincerely, ASHLAND OIL, INC. P. Box 14000 71e )ton. KY 40512 Corporate Real Estate 2460 J. K. Lemley Condemnation Supervisor G"�Z& - Mr. Jock Robertson City of Fridley 6431 University Averwe BE Fridley, N>I`T 55432 ,.. ait SNSIAZU`A O 2 5 =*N 0.-.a 32z��L_.___ -- ^1*N IOUSNG and REDEVELOPMENT AUTHORITY 7 COMMISSION MEMBERS: LAWRENCE COMMERS, CHAPMAN BUANE PRAM VIRGINIA sCHNASEL WALTER RASMUSSEN JOHN MEYW CITY OF FRIDLEY DATE: February 2, 1990 TO: Housing and Redevelopment Authority FROM: Jock Robertson, Executive Director of HRA SUBJECT: Proposed Redevelopment of 10,000 Auto Parts Site by Urban Commercial Developers Meetings have continued with Urban Commercial Developers, Inc., (UCD), concerning a proposal to develop a 28,000 sq. ft. shopping center on an expanded 10,000 Auto Parts site. On January 25, 1990, the Anoka County Regional Rail Authority approved a concept plan integrating the proposed development with the projected light rail transit station which the Authority contemplates on the same site. On January 4, 1990, staff recommended that the HRA give concept approval to this development which would be funded on a pay- as -you- go grant from 5 -8% of the total project value. However, on January 17, 1990, UCD changed their request for assistance from a $250,000 pay -as- you -go to a $350,000 grant upon completion. The market value of the project is estimated to range between $2.6 million to $3.2 million. Therefore, staff has requested additional financial data from the developer in order for a pro forma analysis to be done by our financial consultant, Jim Casserly. In the meantime, the developer has scheduled a neighborhood information meeting on the required rezoning for Thursday, February 15, 1990, at 7:00 p.m. JR:ls M -90 -67 EXECUTIVE DIRECTOR: JOCK ROBERTSON 0431 UNIVERSITY AVE. ($12) 571 -3450 FRIDLEY, BIN 55432 EXT. 117 d C W Q H � L d 'NE w L6 3 z I� 66th Avenue U1 Y 3 z O /A 13 ONE WAY TRUOC TRAFFIC 6' HIG" \ PROP. Mississippi Street LAND: 2.86 Acres BUILDING: 28,230 Square feet PARKING: 180 required vs 203 provided 1/�, �., o 4 "�'.,C SUS• MEMO TO: FROM: COUNTY OF ANOKA Office of the County Board of Commissioners COURTHOUSE ANOKA, MINNESOTA 55303 612- 421 -4760 January 22, 1990 Anoka County Regional Rail Authority Tim Yantos, Deputy County Administrator SUBJECT: Alternatives for Securing an Interest in Property Located at the Northeast Corner of Trunk Highway 47 (University Ave. and Mississippi Street) in the City of Fridley for the Purpose of Locating Parking and a Drop -Off Area for the LRT Station As you are aware, a light rail transit station and parking for approximately 200 to 300 cars has been proposed for the northeast corner of Mississippi and Highway 47- University Avenue. Currently a 10,000 Auto Parts is located on this property. Urban Commercial Development is proposing to begin construction this spring on a 28,000 square -foot shopping center on this property. Because of this change of ownership and development and the proposed LRT station, the Anoka County Regional Rail Authority may wish to consider at this time the alternatives to securing parking and a drop -off area for this station. We have been meeting with the City of Fridley and the developer to discuss the various alternatives to this piece of property. The development site would include the area of the 10,000 Auto Parts, the grassy area to the north to 66th and the two homes east of 10,000 Auto Parts abutting Mississippi and 66th. We have projected approximately the same amount of space to accommodate 200 to 300 parking stalls and a drop -off area. Our Assessor's Office has estimated that the 1989 market value for this site including the property, structure and homes is approximately $512,000. The realtor is asking $680,000. The City of Fridley is requesting the Rail Authority consider the alternatives and provide direction so that the developer may complete the necessary permit process. We are recommending the two following alternatives for your consideration: Option 1 To authorize the chairman to enter into negotiation for the purchase of the fee title of the 10,000 Auto Parts site, the grassy area to the north to 66th, and the two homes located to the east at 355 Mississippi and 368 - 66th Avenue NE. Legal description of properties: Lots 9, 10, 11 and 12, block two, Rice Creek Terrace, plat 1, Fridley, Minnesota, and Lots 12, 13, 14, 15 and 16, block three, Rice Creek Terrace, plat 2, Fridley, Minnesota. Affirmative Action / Equal Opportunity Employer Xu: 1 7 -B January 22, 1990 Page 2 Option To authorize the chairman to enter into negotiation for acquisition of an easement to include the north 21 feet of the south 51 feet of the following described properties: Lots 9, 10, 11 and 12, block two, Rice Creek Terrace, plat 1. This option would take approximately 31 parking spaces at the south portion of the development abutting Mississippi. This easement would provide for a drop -off area for buses and vehicles and some limited parking. The terms for option two will include the developer providing this space if and when a light rail transit station is developed at this location and that the Rail Authority will provide alternative parking spaces should they be needed at the time the station is developed. Should the Rail Authority select this alternative, it is recommended that the eight properties to the north of the proposed shopping center (see attached) be purchased for LRT parking at the time the NE corridor is developed. Our Assessor's Office has estimated that the 1989 market value for these eight hWVT—iD--A—Properties is $555,000. 2�� As always, should you have any questions, please do not hesitate to contact me. TY: pm attachment Tim Yantos 7 -C tip ( of �' i ! `%' • Z S %` 17 • ! �'� 0 11 6° ` F ��, % «D • . Al o%+• \\ = ����5, p a _ Q�� t� �, '* N^� may, , A � � „*•p'' � � �: G F. 'S �,% ; � fo`g o `111 � �� ( +1 V) 1�0 !. //9 I t \ ,� r lei J •� d• " , t -fir''. rP) I � ' -� mil` � _ ,,..: r •"- i � 2 \ °" .: ? r � 6 -'' � , 'l r r" � ••• .. � .. •!• �. •; �• � I tom) � �'.• 'I ` •' gy.r /� ' I I `p .t•. 4 y, '_ % 4, ,'l'e at ,f �� ••4A f ..r'\ �. �5,• I ; 4 '`) Z + KY � - •, . �, .�. + i . Ii- �• "'� • i � i l�L,• � I ,13 \J: ml ',, J? '•c° :♦ .y C IZ . `• W , ; 67 AVE. N.E. 7 , { �• ~l DERED - ARE FOR PARK AND RIDE `E ° , ¢ i I ui Ce'66 TH "'AVE. N. E. A ' PROPOSED p A'= /d ;9�/ �� ��- i • REZONING TO C -1 CR Ell EK3'�� ' ' E I I i ' ���:� CIO � •roo I4 t• i L CURRENTLY ZONED C -1 9 23 24 FRIDLEY NORTHEAST QUADRANT (10,000 AUTO PARTS AND OTHERS) 7 -E OWNER/ LAND BUILDING TOTAL PIN BUSINESS SO. FT. MKT. VAL. SO, FT. MKT. VAL. VALUE (F4 -24 -0010 Marjon Ent. 60,000 $210,000 14,410 $ 91,800 $301,800 L, 10 -12, 10,000 Auto Blk. 2, Rice Creek Terrace (B)14 -24 -0040 Marjon Ent. 11,550 $ 15,300 Lot 16, Blk. 3 Rice Creek Terrace, Plat 2 (C)14 -24 -0039 Marjon Ent. 11,250 $ 13,000 Lot 15, Blk. 3 Rice Creek Terrace, Plat 2 (D)14 -24 -0038 Marjon Ent. 11,250 $ 13,000 Lot 14, Blk. 3 Rice Creek Terrace, Plat 2 (E)14 -24 -0037 Marjon Ent. 11,250 $ 13,000 Lot 13, Blk. 3 R� Creek T. ace, Plat 2 (F)14 -24 -0036 Donald & 11,250 $ 19,700 Lot 12, Blk. 3 Pearl Bennethum Rice Creek Terrace, Plat 2 (G)14 -24 -0009 Mike 20,000 $ 21,000 Lot 9, Blk. 2 Marsolek Rice Creek Terrace, Plat 1 (H)14 -24 -0076 Cliff & Mary 8,884.9 $ 19,000 Lot 1, Blk. 5 Chester Rice Creek Terrace, Plat 3 (I)14 -24 -0077 Steve Lot 2, Blk. 5 Aleksusk Rice Creek Terrace, Plat 3 111 � ( ,,,A.4 -24 -0078 Rodney & Lot 3, Blk. 5 Betty Fure Rice Creek Terrace, Plat 3 10,800 $ 21,800 10,800 $ 21,800 -- - -- $ 15,300 - -- - -- $ 13,000 - -- - -- $ 13,000 - -- - -- $ 13,000 - -- $ 45,300 $ 65,000 - -- $ 52,000 $ 73,000 - -- -$ 48,900 $ 67,900 -- $ 50,400 $ 72,200 - -- $ 51,000 $ 72,800 FRIDLEY NORTHEAST QUADRANT (10,000 AUTO PARTS AND OTHERS) 7 -F OWNER/ LAND BUILDING TOTAL PIAN BUSINESS SO. FT. MKT. VAL. SO. FT. MKT. VAL. VALUE (K)14 -24 -0079 Lyle & 10,800 $ 21,800 - -- $ 51,500 $ 73,300 Lr7 �4, Blk 5 Josephine Ri . Creek Larson Terrace, Plat 3 (L)14 -24 -0025 Lowell & 23,266.5 $ 24,700 - -- $ 53,100 $ 77,800 Lots 16, 15, Pauline Blk. 2, Rice McGregor Creek Terrace, Plat 2 (M)14 -24 -0024 Timothy & 11,250 $ 21,100 - -- $ 46,500 $ 67,600 Lot 14, Blk. 2 Charlene Rice Creek Ziemba Terrace, Plat 2 (N)14 -24 -0023 Henry & 11,250 $ 21,100 - -- $ 32,600 $ 53,700 Lot 13, Blk. 2 LaVonne Smith Rice Creek Terrace, Plat 2 (0)14 -24 -0022 Russell & 11,250 $ 21,100 - -- $ 40,700 $ 69,800 Lot 12, Blk. 2 Susan Hansen W"_l Creek T(---..:ace, Plat 2 Li 4j 6110 &x > Uj• • �'+ I ' • t - t c t y a. � � • �a _;, �S s2o' x.30 •;yv 4i �. ..�.. G3o. •o - c F- U) , ..... r .:. /d Z,,�. ysf•- 1 N ter lot)- i ' r ALTAS DEVELOPMIE corporation BUSINESS AND REAL ESTATE DEVELOPMENT January 23, 1990 Mr. Jock Robertson Director of Development City of Fridley Civic Center 6431 University Avenue N. E. Fridley, MN 55432 RE: Hud Co- Insurance Program Dear Jock, As you will recall, you recently inquired about the effect of HUD's decision to end the co- insurance program on the housing proposal that we have recently outlined for the City of Fridley. Enclosed is a copy !� of a recent article from the New York Times which discussed HUD's announcement and some of the reasons for terminating the co- insurance program. As is stated in the article, only the co- insurance program with the private sector has been terminated. We are confident that HUD will continue to provide insurance for appropriate housing developments on a direct basis. We continue to be interested in working with the City and HUD to accomplish such a housing program in Fridley. If you have any further questions or comments concerning this matter, please fee free to contact me for further discussion. Sincer ly, Ron g:�el l i cc: Frank C. Dunbar Sue Funk 1128 Harmon Place • Suite 304 . Minneapolis, MN 55403 • (612) 338 -7640 QC b c W� 9� it I glJill[ JkBS N N ..n It B all I Jac all s= d r ,E y�t a s HURI " .8 toI Iii 9 6 Big all All ilia m a jig r � ..6 �� 6 I RA bA OW a id w A x 1i �we S Iall Lit t a b "Ell a it all l �g�iC �4. U4 g g F " e y� 6 9 lit .� _� ... �.� � .•sly till 11 Zvi i- If 1 0 Z Sp Tc�►J 1 q- A TN!I 10' 2 S � ��i►��_ '> ;F; 1 '�4? 14Q� F � 1 _ January 30, 1990 Mr. William Burns City Manager City of Fridley 6431 University Avenue NE Fridley, Minnesota 55432 RE: Lake Pointe Land Lease Mr. Jock Robertson Community Development Director Gentlemen: Being a resident of New Brighton, I frequently drive by the former drive -in theatre site known as Lake Pointe. Also being an average golfer needing practice, I visualized a golf driving range on that particular site. Knowing that the site is destined for commercial development sometime in the future, I concluded that a land lease with temporary facilities would be ideal. Here is my proposal. I would lease the site for one year (April 1 to September 6) with three additional one year options. I would install 'a movable, temporary clubhouse with appropriate signage and facilities typical of a golf driving range. I would replace damaged sod where required. I would also carry necessary insurance, protecting myself and indemnifying /insuring the city. Compensation for the lease would be 50% of the net profits or approximately $15,000.00. The city, in turn, would continue to be responsible for the maintenance and utilities. A variety of concerns may need to be addressed, but for now, I am seeking concept approval. Though the revenue may appear minimal, it is a partial offset against real estate taxes and maintenance on a site that has not generated any income. Attached is a sketch of the site, depicting location of the tees and clubhouse, direction, and distances. Your time and consideration are gratefully appreciated. Sincerely yours., David E. Ficek Scottwood Corporation 1849 Stinson Boulevard �, New Brighton, Minnesota 55112 9 z 0 4 m I,ufr. 00 m *ZOO 2AA03 0 ZLA L --1 O r+1 2Zmy� rOA OyZm Dm-i -, r .M �ivil2 m N� r_ z Z L m ri a -1L 6 t• S1F�ET� - - -- — - - - -- awru.�y c cz .0 \ ue e r.,rr ro ", hd 65 lCj VTR.0 —A VWC) A I r I � . I l� N :• I • 4' rl�r1, • • Ott I;1. e 1�1 rr 6 t• S1F�ET� - - -- — - - - -- awru.�y c cz .0 \ ue e r.,rr ro ", hd 65 lCj VTR.0 —A VWC) A HOKANSON CONSTRUCTION INC. 9174 Ioaoti St. N8 Bl'ine, MV 55434 (8I2) 7W3I30 John Robertson, HRA Director � 6431 University Ave. Fridley, MN 55432 i|okznso: Construction/ Ivy Ridge Homes requests to be placad on your bid list so as to participate in the bidding process for any development or redevelopment projects initiated by your city Economic Development Authority or � Housing Redevelopment Authority. i ! our company has been in business for more than twenty five � year' ~ and has an excel1ent reputation in the construction in the development of industrial field We are experienced ' development, and parks, commercial centers, residential combinations thereof and would like an opportunity to compete for the lowest bids on your projects. W, would sincerely appreciate it if you would place our name on the list of contractors to be contacted when "request for proposals" are desired. Thank you for your � attention in this matter. Sincerely, Kirk Corson SECTION XI TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 10 (NORTHCO PHASE III) Subsection 11.1. Statement of Objectives. See Section I, Subsection 1.5. Statement of Objectives. Subsection 11.2. Modified Redevelopment Plan. See Section I, Subsections 1.2. through 1.15. Subsection 11.3. Parcels to be Included. The boundaries of Tax Increment Financing District No. 10 are described on the attached Exhibit XI -A and illustrated on Exhibit XI -B. Subsection 11.4. Parcels in Acquisition. The Authority may publicly acquire and reconvey any or all of the parcels in Tax Increment Financing District No. 10 identified on the attached Exhibit XI -A. The following are conditions under which properties not designated to be acquired may be acquired at a future date: (1) The City may acquire property by gift, dedication, n condemnation or direct purchase from willing sellers in order to achieve the objectives of the Tax Increment Financing Plan; and (2) Such acquisition will be undertaken only when there is assurance of funding to finance the acquisition and related costs. Subsection 11.5. Development Activity for which Contracts have been Signed. As of the date of adoption of the Tax Increment Financing Plan, the City intends to enter into a Development Agreement with the following developer: Northco, for the construction of an 18,400 square foot, 1 story commercial and office building with a total construction cost estimated at $1,062,500 and anticipated construction completion in 1990. Subsection 11.6. Specific Development Expected to Occur. At this time it is anticipated that a facility providing 18,400 square feet of commercial and office space will be constructed. 11 - 1 ,--� Subsection 11.7. Prior Planned Improvements. The Authority shall, after due and diligent search, accompany its request for certification to the County Auditor or its notice of district enlargement with a listing of all properties within Tax Increment Financing District No. 10 for which building permits have been issued during the eighteen (18) months immediately preceding approval of the Tax Increment Financing Plan by the Authority. The county Auditor shall increase the original tax capacity of Tax Increment Financing District No. 10 by the tax capacity of each improvement for which the building permit was issued. If said listing does not accompany the aforementioned request or notice, the absence of such listing shall indicate to the County Auditor that no building permits were issued in the eighteen (18) months prior to the Authority's approval of the Tax Increment Financing Plan. Subsection 11.8. Fiscal Disparities, The Authority hereby elects the method of tax increment computation set forth in Minnesota Statutes, Section 469.177, Subdivision 3, clause (a) if and when commercial /industrial development occurs with Tax Increment Financing District No. 10. Subsection 11.9. Estimated Public Improvement Costs. The estimated costs associated with Redevelopment Project No. 1 are listed in Section I, Subsections 1.9 and 1.10. Subsection 11.10. Estimated Amount of Bonded Indebtedness. It is anticipated that $0 of bonded indebtedness could be incurred with respect to this portion of Redevelopment Project No. 1. However, the City wishes to reserve the right to pay for activities listed in Section I, Subsections 1.9. and 1.10. as modified February 26, 1990 relating to Tax Increment Financing District No. 10 as tax increments are generated and become available in lieu of issuing tax increment financing bonds. Subsection 11.11. Sources pf Revenue. The costs outlined in Section I, Subsection 1.9. will be financed through the annual collection of tax increments. Subsection 11.12. Estimated Original and Captured Tax Capacities. The tax capacity of all taxable property in Tax Increment Financing District No. 10, as most recently certified by the Commissioner of Revenue of the State of Minnesota on January 2, 1989, is estimated to be $9,695. e—,� 11 - 2 The estimated captured tax capacity of Tax Increment Financing District No. 10 upon completion of toebero os d improvements on January 2, Subsection 11.13. Tax Capacity Rae. The current total tax capacity rate is .97756. Subsection 11.14' x r900nupon completion ion ofhthebeen calculated at approximately $27 rate and a valuation improvements threempercent t(3i0 %)acompounded annually. increase 11.15. T►�e, of Tax Increment Financing District. Tax Increment Financing District No. 10 is, pursuant to Minnesota Statutes, Section 49.174, Subdivision 12, an Economic Development District. Subsection 11.16. Duration of Tax Increment FDistrict District. The to be eight (8) years from receipt of the No. 10 is expected ears from approval of the tax first tax increment di ten (10) y increment financing district, whichever is less. The date 01992. receipt of the first tax nTax IncrementtFinancing District Thus, it is estimated that No. 10, including any modifications for subsequent phases or other changes, would terminate in the year 2000. Subsection 11.17. Estimated Im� Tax ct on Other in Jurisdictions. The esconstructioncwould have occurred without jurisdictions assumes District No. 10. If the the creation of Tax Increment Financing the impact construction is a result of tax increment the fact gthat the is $0 to other entities. Notwithstand9 is $0 due to the fiscal impact on the other taxing jurisdictions fact that the financing woattached ExhibitrXl- Elreflectsethe assistance of the City, the District No. 10 if estimated fo patestfwasxnotcmetent Financing the but _ Subsection 11.18. ModitiFinancinf PlanlncAsmoftFebruary 26, District and or Tax Incremen 1990, no modifications to Tax In thereforechas beenrmade,osaid or the Tax Increment Financing Plan royal and adoption thereof by date being the date of initial app the City Council. 11 - 3 EXHIBIT XI -A BOUNDARIES OF TAX INCREMENT FINANCING DISTRICT NO. 10 NORTHCO PHASE III AS ORIGINALLY ADOPTED FEBRUARY 26, 1990 P.I.N. 11- 30 -24 -31 -0002 Tract A of Registered Land Survey #78 XI -A -1 EXHIBIT XI —B BOUNDARY MAP•OF TAX INCREMENT FINANCING DISTRICT NO. 10 47 -•r� rc ��� �-� � ■rsrost •r1 tf1.0 � � ■a r"r 1 � •i \` .• 0�7 �w •� �sracY� • t►rrf r = l lbp Lo♦a D a Apt Q co la alfAL l trsr � M I a j XI -B -1 � � g ZAn.LZI ' Al -l; CASH FLOW ANALYSIS .12-Jan-90 CITY OF FRIDLEY, MINNESOTA NORTHCO NORTHCO PHASE III DEVELOPMENT ` ---------------------------------------------------------- ORIGINAL ESTIMATED ESTIMATED LESS AVAILABLE # OF TAX TAX TAX ADMIN TAX YEARS DATE CAPACITY CAPACITY INCREMENT EXPENSES INCREMENT --------------------------------------------------------------------------- 0.0 6 /90 9,695 9,695 0 0 0 0.5 12 /90 9,695 9,695 0 0 0 1.0 6 /91 12,710 41,250 0 0 0 1.5 12 /91 12,710 41,250 0 0 0 2.0 6 /92 16,661 42,488 13,950 698 13,253 2.5 12 /92 16,661 42,488 13,950 698 13,253 3.0 6 /93 21,842 43,762 12,623 631 11,992 3.5 12 /93 21,842 43,762 12,623 631 11,992 4.0 6 /94 28,633 45,075 10,714 536 10,178 4.5 12 /94 28,633 45,075 10,714 536 10,178 5.0 6 /95 37,537 46,427 8,036 402 7,634 5.5 12 /95 37,537 46,427 8,036 402 7,634 6.0 6 /96 49,208 47,820 4,346 217 4,128 6.5 12 /96 49,208 47,820 4,346 217 4,128 7.0 6 /97 64,509 49,255 0 7.5 12 /97 64,509 49,255 0 8.0 6 /98 84,567 50,732 0 8.5 12 /98 84,567 50,732 0 9.0 6 /99 110,862 52,254 0 9.5 12 /99 110,862 52,254 0 10.0 6 /00 145,332 53,822 0 ------------------------------------ 99,339 ------------------------------------ ------------------------------------ 4,967 94,372 ORIGINAL TAX CAPACITY 9,695 ADJUSTMENT FACTOR 1.310936 ESTIMATED MARKET VALUE 850,000 ESTIMATED TAX CAPACITY 41,250 YEAR CONSTRUCTED 1990 YEAR ASSESSED 1991 YEAR TAXES PAYABLE 1992 CURRENT TAX CAPACITY RATE 0.977560 (PAY 1989 RATE ASSUMED; 1990 UNAVAILABLE) INFLATION 3.000% ADMIN EXPENSE 5.000% CASSERLY MOLZAHN & ASSOCIATES XI -C -1 ,/-`1 EXHIBIT XI -D "BUT FOR" ANALYSIS Northco is proposing to purchase and develop the 2.4 acre site between the University Avenue frontage road and University Road immediately south of 73rd Avenue. This parcel is located in an area in which the City has actively promoted development and redevelopment. The new facility will provide approximately 18,400 square feet of commercial and office space. In addition, approximately 25 employment positions will be relocated into the City, thereby providing additional consumers for existing retail and restaurant facilities. The project will also add over $850,000 of additional market valuation to the City's tax base. In order to proceed with the development, substantial soils correction are required. The need for tax increment is to assist in this increased cost and help provide the public assistance which makes this development possible. Without tax increment assistance, the project as proposed on this site would not be economically feasible and would not proceed in the foreseeable future. XI -D -1 EXHIBIT XI -E ESTIMATED IMPACT OF TAX INCREMENT FINANCING DISTRICT NO. 10 ON OTHER TAXING JURISDICTIONS IMPACT ON TAX BASE ------------ - - - - -- IMPACT ON TAX CAPACITY RATE --------------------- - - - - -- ENTITY ------------------------------ - - - - -- i"` City of Fridley County of Anoka ISD #16 Other POTENTIAL TAX CAPACITY TAX CAPACITY % OF TAX CAPACITIES RATE DISTRICT TOTAL -------------------------- INCREASE - - - - -- AS % OF ENTITY TAX BASE ORIGINAL ESTIMATED CAPTURED TOTAL --------------------------------------------------------------------------------------- City of Fridley 25,799,307 9,695 32,648 22,953 0.089% County of Anoka 149,612,820 9,695 32,648 22,953 0.015% ISD #16 18,025,730 9,695 32,648 22,953 0.127% IMPACT ON TAX CAPACITY RATE --------------------- - - - - -- ENTITY ------------------------------ - - - - -- i"` City of Fridley County of Anoka ISD #16 Other POTENTIAL TAX CAPACITY TAX CAPACITY % OF TAX RATE RATE TOTAL INCREMENT INCREASE ------------------------------------------------ 0.12492 13% 2,867 0.011% 0.27425 28% 6,295 0.004% 0.51607 53% 11,845 0.066% 0.06232 6% 1,430 0.97756 100% 22,438 * Assumes the construction would have occurred without the creation of a Tax Increment Financing District. If the construction is a result of Tax Increment Financing, the impact is $0. XI -E -1 SECTION XII TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 11 (PRO ENGINEERING) Subsection 12.1. Statement of Objectives. See Section I, Subsection 1.5. Statement of Objectives. Subsection 12.2. Modified Redevelopment Plan. See Section I, Subsections 1.2. through 1.15. Subsection 12.3. Parcels to be Included. The boundaries of Tax Increment Financing District No. 11 are described on the attached Exhibit XII -A and illustrated on Exhibit XII -B. Subsection 12.4. Parcels in Acguisition. The Authority may publicly acquire and reconvey any or all of the parcels in Tax Increment Financing District No. 11 identified on the attached Exhibit XII -A. The following are conditions under which properties not designated to be acquired may be acquired at a future date: !� (1) The City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of the Tax Increment Financing Plan; and (2) Such acquisition will be undertaken only when there is assurance of funding to finance the acquisition and related costs. Subsection 12.5. Development Activity for which Contracts have been Signed. As of the date of adoption of the Tax Increment Financing Plan, the City intends to enter into a Development Agreement with the following developer: Pro Engineering, Inc., for the construction of a 24,000 square foot manufacturing facility with a total construction cost estimated at $750,000 and anticipated construction completion in 1990. Subsection 12.6. Specific Development Expected to Occur. At this time it is anticipated that a facility providing 24,000 square feet of manufacturing space will be constructed. n 12 - 1 request h for tY roVements• 12.7• pry plane d I accompany its district diligent search► its notice of Tax Increment Subs' and erties is have been afte t Auditor or to the Coup y °f all I ;hall, tion for which building P telY Preceding .ertif ica t with a listing i►edia enlargemen ict No. een (1 8) Mont ing plan by the capacity Of Financing Dist the eight Financing anal tax capacity of during Tax Increment ct No. 11r1Y the If issued shall increase the pelt was issued. approval tf Auditor Distri request °r The cO� Y Financing building entioned the County Tax Increment t for which the the aforem in the eighteen (18) h imp shall indicate to not accompany eac does such listing sh issued the Tax Increment said listing absence of permits were notice, the no building P I nova the Authority s app Auditor that hereby months Prior to The Authority plan. Dis arities• t forth in a) if Financing Fi= t comPutation se 3, clause Subsection 12'8,tax increment Subdivision with Tax 469.177' meet occurs method °f Section develop elects otae wti industrial 11. The and when commercial District NO• t Costs• Financing Im rovemen N 1 are Increment ted pub meet project Inar 9. Estima Redevelop with 1 .9 and 1 ,10 . Subsection 1s ctions Indebtedness. COS I ,c Su se stimated Amount °f $O may, be listed in Section ted a d indebtedneS t project 10. Estimated bon RedeveloPMO' that $185,000 469.178► be used Subsecti at d • a to this Portion °f Section Bonds may It is anticiP respe Statutes► in with Minnesota �Increm identified incurred pursuant to Oblig ation the costs City wishes No• 1• General a Portion of gowever► 1' d 1.10• the activities Subdivision amortiZel.9. an d 1,10. as tax u required to ections for a Portion of issuing I, Subs aY 1.9. an in lieu of Section the right to Pay available to reserve Section I► and becomebonds• identified in generated cing The costs outlined is are 9 t fin through increments tax incremen financed additional ces °f Re�11 be 12.11 . Sour ection ections and eats. Subs I, Subs increm Ca tared Tax in Section of tax collection final and e�n Tax the annual ted Ord a prop tly certified Estima abl 12.12. of all as most recent on Subsection capacity 11► Ca acitieS • The teDistrict N° cf the State of t Financing of Revenue be $4,438. IncremeCommissior1er ate to by the 1989, is estim d JanuarY 2, 1�_' 12 - 2 of Tax Increment captured tax capacity The estimated cap 11 upon completion of the proposed ,251. Financing District No. 1991 is estimated to be $ improvements on January 2► Tax Cao` v Ra The current total tax Subsection 1297756• capacity rate is Tax Increment. Tax increment has been 662 upon completion of the Subsection $25� acity rate and a valuation calculated at approximately a static tax ca annually. improvements assuming (3.0$) compounded increase of three p ursuant to Minnesota .15. �C� of Tax Increment Financing Distrlc - Subsection 12 District No. 11 i ► P Section 469.174► Subdivision 12, an Economic Tax Increment Financing Sta —tent District. Develop Duration cif Tax Increment FDistrict Subsection 12.16• increment Financing t of the District. The duration of Tax (8) years from receipt expected tortenis ) years from apprOVal of the tax No. 11 is 10 less. The date of first tax increment whichever is 1992 . increment financing district► District e first tax increment is estimated to be Ju Y► receipt of the uent phases or it is estimated that ax Inefortsubs gcing Thus, including any modifications ear 2000. No. 11� would terminate in the Y other changes' subsection 12.17. Estimated Itonothert taxing The estimated impa Jurisdons. 11, If the Financing District NO' the impact 'ctions assumes construction would have occur jurisdi the creation of Tax increment the fact that the is a result of tax increment financing '0 due to the construction Notwithstanding is $0 to other entities. jurisdictions is $ fiscal impact on the other taxing icur occurred without reflects the financing would not have occurred without the f fact that the t the attached Exh District No. 11 i assistance of the City, estimated impact of Taxnincrement Financing the "but for test was Modification of Tax Increment Financing , Subsection 12.18• As of February 261 o Tax Increment Finking District NOsaid District and or Tax Increment Financing p has been made, 199— 0 o modifications plan therefore adoption thereof by or the Tax Increment Financing royal and date being the date of initial ap the City Council. 12 - 3 EXHIBIT XII -A BOUNDARIES OF TAX INCREMENT FINANCING DISTRICT NO. 11 PRO ENGINEERING AS ORIGINALLY ADOPTED FEBRUARY 26, 1990 The east 263.96 feet of the west 863.96 feet of the north 330 feet of the southeast 1/4 of the northwest 1/4 of section 12, Township 30, Range 24, Anoka County, Minnesota, subject to easements of record, if any. XII -A -1 EXHIBIT XII—B BOUNDARY MAP OF TAX INCREMENT FINANCING N 112 SEC. T - -CIrY OF FRIDLEY AM -..Znf 6INTS - - !(At L,AMPE 1 (AVd) a -, .0 . 7N 40� ANDERSON 11011 -4—L.P.-f Dbl 'ON 'a I'ar a (4.6"t" 4 Ar �* ��oftr- DEVELOPMENT it Ao 57 4r Im ga. —F 141; (at tj t 10 I W. pf ..torfRESIOE Id. j. WI ulL o �j Ic a WWAA' NtIT VIEW —"AIANOR CENTRAL L .'A .;j �6&rION4 p a too. . a . T3 AVE- N.E. U t, 4, It, .:. 1. " . iriu 1241 W,V 13 XII—B-1 oW K a N d H U U H a z x W J 0 O H a t` O W U U I I OI U� li Z li w 0: W W Ot O II C 2 !0 W � 7 I 4 d W LLI Q H U Q D GLC r N N W C FW 2 K o. W H w W J 0: d W w Z a .. c� J Z •r !- OUZC QM W g►Zg+ 2 J a d d X W O W xx F � F (Z� W r� O F tr aU ~ ~ U W y Q F Z rqq+ � � U O FW- C N O qk } O O O O^ r� Onl t0 m 9 tta N 1" 0� l^ Oni til n O t+) N r O N N C3 M a tt$ t0 r r Ln O O O O r Ot d t0 O O Of � O p O pp m�p mm N In 9 n N Ot r Ol O o O m w t0 t0 to n N Uf r 0) 0) r t0 t0 N N Of Qt t0 n N 0 Ol v 01 v C N N v v r r r r v O IA N t(f IA tff N 10 IA 10 17! 1[f tlf If1 IA 17f to IA N IA N N N N N n n Cl! N n n N Cl! n n N N n n Q V V a V cn en cn cq N N N N r r r r Ul r r r r r r r r O IA IA to to In IA f� In r� tff ILl ttf iff Iff tt1 f� N Cl! N N N n n N N n n N N n n N N to IA 1A P. n ' w 0 17 Q V t+l M P) M N N N N r r r r § g g § 8 o Ct 0 0 0 0 0 0 0 Ln r r r r r r r r O 9 O 10 Cl! Cl! Cl! 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This parcel is located in an area in which the City has actively promoted development and redevelopment. The new facility will provide approximately 24,000 square feet for manufacturing use. In addition, approximately 16 to 26 employment positions will be relocated into the City. The project will also add approximately $600,000 of additional market valuation to the City's tax base. In order to proceed with the development, assistance with land acquisition and storm sewer installation is required. The need for tax increment is to assist in these increased costs and help provide the public assistance which makes this development possible. Without tax increment assistance, the project as proposed on this site would not be economically feasible and would not proceed in the foreseeable future. XII -D -1 EXHIBIT XII -E 1 11 � ESTIMATED IMPACT OF TAX INCREMENT FINANCING DISTRICT NO. 11 ON OTHER TAXING JURISDICTIONS IMPACT ON TAX BASE ------------ - - - - -- IMPACT ON TAX CAPACITY RATE --------------------- - - - - -- POTENTIAL TAX CAPACITY TAX CAPACITIES % OF DISTRICT RATE -------------------------- - - - - -- AS % OF ENTITY TAX BASE ORIGINAL ESTIMATED CAPTURED TOTAL ------------------------------------------------------------------------------- City of Fridley 25,799,307 4,438 30,689 26,251 0.102% County of Anoka 149,612,820 4,438 30,689 26,251 0.018% ISD #16 18,025,730 4,438 30,689 26,251 0.1460 IMPACT ON TAX CAPACITY RATE --------------------- - - - - -- POTENTIAL TAX CAPACITY * Assumes the construction would have occurred without the creation of a Tax Increment Financing District. If the construction is a result of Tax Increment Financing, the impact is $0. XII -E -1 TAX CAPACITY % OF TAX RATE ENTITY RATE TOTAL INCREMENT INCREASE ------------------------------------------------------------------------------- City of Fridley 0.12492 13% 3,279 0.013% County of Anoka 0.27425 28% 7,199 0.005% "— SD #16 0.51607 53% 13,547 0.075% ether 0.06232 6% 1,636 0.97756 100% 25,662 * Assumes the construction would have occurred without the creation of a Tax Increment Financing District. If the construction is a result of Tax Increment Financing, the impact is $0. 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