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HRA 01/08/1998 - 6295.f HOUSING & REDEVELOPMENT AUTHORITY MEETING THURSDAY, JANUARY 8, 1998 7:30 P.M. PUBLIC COPY (Please return to Community Development Dept.) 0_ CITY OF FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY MEETING THURSDAY, JANUARY 8,1998,7:30 P.M. AGENDA LOCATION: Council Chambers (upper level), Fridley Municipal Center CALL TO ORDER ROLL CALL APPROVAL OF MINUTES December 11, 1997 CONSENT AGENDA Approve 1998 HRA Budget ............................. 1 Consider Resolution Authorizing Access and G Use of HRA Property for Right -of -Way Purposes ............. 2-2C Claims and Expenses ... ............................... 3-3C ACTION ITEMS Consider Agreements Authorizing School District TIF Returns .............................. 4- 4B Consider Resolution Authorizing Execution of 9 Redevelopment Contract with MEPC American Properties..... 5 Consider Resolution Authorizing Execution of 0 Restated Contract for Exclusive Negotiations ............... 6. Consider Resolution Approving Final Plans for & TI-165/Central Avenue /Lake Point Drive Intersection.......... 7-71 Consider Acquisition of 611 Buffalo Street and 5297 Lincoln Terrace ............................... 8- 8F INFORMATION ITEMS Proposed Change in TIF Fee Policy ...................... 9- 9C OTHER BUSINESS • CITY OF FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY MEETING DECEMBER 11, 1997 10m, • •_� i Chairperson Commers called the December 11, 1997, Housing and Redevelopment Authority meeting to order at.7:30 p.m. ROLL CALL: Members Present: Virginia Schnabel, Jim McFarland, Duane Prairie Members Absent: Lary Commers, John Meyer Others Present: William Bums, Executive Director Barbara Dacy, Community Development Director Jim Casserly, Financial Consultant Grant Femelius, Housing Coordinator Craig Ellestad, Accountant APPROVAL OF NOVEMBER 13 1997 HOUSING AND REDEVELOPMENT AUTHORITY MEETING: MOTION by Mr. McFarland, seconded by Mr. Prairie, to approve the November 13, 1997, Housing and Redevelopment Authority minutes as written. UPON A VOICE VOTE, ALL VOTING AYE, VICE- CHAIRPERSON SCHNABEL DECLARED THE MOTION CARRIED UNANIMOUSLY. CONSENT AGENDA: 2. AGREEMENT FOR LEGAL SERVICES WITH KRASS MONROE P.A. 3. RESOLUTION AUTHORIZING RELEASE OF DEVELOPMENT CONTRACT WITH UNIVERSITY AVENUE ASSOCIATES 4. APPROVE 1998 MEETING DATES HOUSING & REDEVELOPMENT AUTHORITY MTG., DECEMBER 11, 1997 PAGE 2 5. REVENUE AND EXPENSES Mr. Ellestad distributed copies of his December 11, 1997, memo outlining additional expenses for approval. MOTION by Mr. Prairie, seconded by Mr. McFarland, to approve the Consent Agenda, including the additional expenses as outlined in Mr. Ellestad's memo dated December 11, 1997. UPON A VOICE VOTE, ALL VOTING AYE, VICE - CHAIRPERSON SCHNABEL DECLARED THE MOTION CARRIED UNANIMOUSLY. ACTION ITEMS: ' NONE INFORMATION ITEMS: 6. CONCEPT PROPOSALS FOR AGREEMENTS WITH MEPC AMERICAN PROPERTIES Ms. Dacy stated MEPC is proposing to develop a 100,000 square foot tech flex building on the west end of the Fridley Executive Center site. The proposed project will entail about 9 acres out of a total of 33 acres at the northeast comer of 1 -694 and Highway 65. Unless they hear to the contrary, staff would like to proceed to negotiate with MEPC on two contracts. One contract is a redevelopment contract to enable this construction to proceed. The second contract would outline the terms of how MEPC would act on behalf of the HRA to market the remainder of the property. Ms. Dacy stated the tech flex building would be located at the west end of the site on approximately 9 acres. This would leave about 15 acres for multi -story office buildings and multi -story ramps and about 8 acres of commercial land for a hotel site and restaurant site. Staff is positive and enthusiastic that, once the tech flex building is constructed on the site, it will attract more interest to the site and possibly attract a commercial entity such as a restaurant. Ms. Dacy reviewed the terms of the redevelopment contract. The contract will be between the HRA and MEPC American Properties. The site is approximately 9 acres at the west end of the site. They are proposing to sell the site at $2.50 per square foot. They hope the contract can be signed by the end of January, closing on the property by April 1, and construction to initiate on May 1. Staff anticipates that the structure will be completed by January 1, 1998, but are allowing additional time in case of unforeseen events such as a strike, labor shortage, etc. An assessment agreement is a typical part of development contracts to set a minimum market value for the project. That HOUSING & REDEVELOPMENT AUTHORITY MTG., DECEMBER 11. 1997 PAGE 3 assessment would be enforced through the.life of the TIF district. If MEPC cannot complete any portion of their responsibilities, a right of reverter will be included for nonperformance. At closing, the HRA would provide title commitment and convey the property by quit claim deed. The contract will not be as signable until a certificate of completion is issued. Based on the terms and schedules, staff believes that the May 1 start date can be achieved and anticipate construction to begin at that time. Ms. Dacy stated the second contract is a listing agreement with MEPC. The title has been changed to a Restated Contract for Exclusive Negotiations. They had executed one with MEPC over the last 18 months which has expired. This would be between the HRA and MEPC for a term of one year. Because this applies to the balance of the site minus the 9 acres for the tech flex building, what is left is the area for the multi -story office, multi -story parking, and commercial. The contract restates the purchase prices that were in the original contract which is 50% of their market value for the office portion and 75% for the commercial portion. The one -year contract can be renewed if both parties agree for a 6 -month term. Staff has also proposed a termination procedure that, within 60 days of a sale, transfer, or assignment of MEPC American Properties, they have to submit a notice to the HRA as to when that sale would occur. The agreement would enable the HRA to evaluate the new company's ability to capitalize a project, who they are going to hire for development staff, and what their policy and approach is for holding and leasing assets. MEPC had the ability to self- finance and their vision for the site was consistent with our vision. Ms. Dacy stated the redeveloper responsibilities include submitting site plans for approval, working with the HRA and staff, achieving plat approval, etc. The HRA is responsible for completing the Highway 65 intersection improvements which will be underway by then and referring all third party inquiries to MEPC. They have obtained the indirect source permit and have done all the environmental work and analysis. These responsibilities are not new to the HRA. Ms. Dacy stated joint responsibilities include coordinating construction of public improvements with construction of uses on the site, develop architectural standards and controls, execute contract for redevelopment as needed. Ms. Dacy stated also included as requested by the HRA is an exclusion for potential users that are on file with the HRA attorney's office to give the HRA the ability to deal directly with those interested users. MEPC is aware of this and accepts that exclusion. Ms. Dacy stated that unless there are comments to the contrary, staff would like to take this outline and meet with MEPC, and come back in January requesting a recommendation for approval at that time. Ms. Schnabel stated this seems to address the Chairperson's concerns, and she thought the HRA concurred with those concerns. HOUSING & REDEVELOPMENT AUTHORITY MTG., DECEMBER 11, 1997 PAGE 4 7. REGIONAL REMODELING PLANBOOK Ms. Dacy stated the idea came out of a meeting of Community Development Directors who meet on a regular basis. All are from first tier communities. Over the last six or seven months, they have taken the idea of a plan book and identified a consultant that would help prepare a plan book that would look at post -World War 11 era housing and ways for homeowners to remodel and /or expand those homes. It occurred to them that they all are looking at the same issues — housing rehab programs for apartments and single family homes, scattered site acquisitions, etc. All the housing departments were looking at a plan book. Although there are some individual projects underway, they thought it would be worthwhile to evaluate a regional approach to this issue. Ms. Dacy stated 15 communities are agreeable to collaborating on a regional book. If each community contributed $5,000, that would go toward hiring an architect to help produce a disk that would contain the contents of the remodeling plan book. The architect would look at the rambler, Cape Cod, and split entry designs; suggest a number of improvements for each interior and exterior, provide a range of costs; and provide some sketches of how that would look from the street side and outside of the property. Staff is asking that this be included in the 1998 budget. Realistically, this will not be published this year but rather in 1999. The group also hopes to fund part of.the printing costs through grants. Mr. Bums stated the State has funds available for regional projects. Ms. Schnabel stated this sounds like an exciting project. She thought that homeowners who fall within this category would benefit by having something like this at their disposal to provide some incentive to expand and preserve their homes. How many houses would fall within this category? Ms. Dacy stated the ramblers and split entries combined would make up 60% to 75% of the housing stock. The Cape Cod style is more predominant in St. Louis Park. Fridley has more of the ramblers. Ms. Dacy stated they are trying to find a title that tells the story. They are hoping that the book would be seen by the producers of the Hometime show on Channel 2 and perhaps spawn a series that is related to this market. Ms. Dacy stated the expenditure would be included in the 1998 budget and will be put on the January agenda. OTHER BUSINESS: Ms. Schnabel stated that regarding the 1998 meeting dates, she thought more members were in favor of the third Thursday rather than the first Thursday if the HRA were to HOUSING & REDEVELOPMENT AUTHORITY MTG.. DECEMB change their meeting dates. She asked if members had a problem with meeting the first Thursday in general. Mr. McFarland stated he would be available for the January meeting, but he would not be available in February, March or April. He may have a problem with the first meeting in May, but otherwise it is okay. Ms. Schnabel stated they would then be changing the meeting to the first Thursday of the month. Ms. Dacy stated, yes, beginning with the February meeting. The January meeting will be on the 8th, which is the second Thursday. Ms. Schnabel stated she would not be available for that meeting. Mr. Prairie stated he would be gone for that meeting as well. ADJOURNMENT: MOTION by Mr. Prairie, seconded by Mr. McFarland, to adjourn the meeting. UPON A VOICE VOTE, ALL VOTING AYE, VICE - CHAIRPERSON SCHNABEL DECLARED THE MOTION CARRIED AND THE DECEMBER 11, 1997, HOUSING AND REDEVELOPMENT AUTHORITY MEETING ADJOURNED AT 7:53 P.M. Respectfully subm' ed, Lavonn Cooper Recording Secretary MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY DATE: December 18, 1997 TO: William Bums, Executive Director of HRje FROM: Barbara Dacy, Community Development Director SUBJECT: Approve 1998 HRA Budget The HRA discussed the proposed 1998 HRA budget and had a brief work session before the December 1997 meeting. There were no major changes to the proposed budget. The appropriate sections regarding the Housing budget were amended to include funds that the HRA will use from the loan provided by the City in 1996. The proposed 1998 budget is presented as a guide for decision making; any major expenditures will be reviewed by the HRA prior to disbursement. Staff recommends that the HRA approve the 1998 HRA budget as presented. BD:Is M -97 -514 1 1998 HRA BUDGET • • • 11*04 Cash Flow and Projection of Annual and Cumulative Balances .............. Pink Budget Summary ...................- .......Cherry Housing Programs .........................Blue Housing Fund (262) ........................Green Operating Budget . .........................Yellow Legal Services Summary ....................Salmon k� 6 m r z m L i ■ � 3 m 3 m �v 9 a Alt "e b V _ V 0M V W NAwN+ O�6i(O� .............. 0000_ a_ Sisis sS . .. �� gQQQ V Viii m mmm ........ 0000000wwww$ifiiiS�a'.oivV� V�V V V V V A A A V+ 3 0000oIREINESS11Vi1o1$ W OD A W V zi W'Q W AAA A A A A A L A rn Ot 0 V V or ZZ`0: i557� ao mio1Sv$Z -n o82S2i2S�iSiLSiSiS� .... 1O i!i �n V 98 :......::.u.:ei fl w w W A A AAA OD Z%::•::::•::•:: m fD f0 t0 G1 41 fT N N V V ± j $ OD O+�D N V �1 ..:. moo:: 4f t t��7 tR V V V y �1 ai � Vw +° �p imp a aV s ? 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W g 4 O A O O fO +� + '::•:: •�l;:�;::: ?: };:' �Og ,�4 g � :: 00000000000000000tS75i5 25 25 00000000000000000000000 .. .... . amam w O+ V m NA N m � i0 V i71 O 9� . 0 0 0 O O O O O O O O O N V f0 Ol 0� :. .::.::. N v g g !2 !2 g r �:1:r:::: 0000000000o��vS�S]CSS]"sS]"a W W W- 4i m W A y.......... ? �' :•i:i' N N V A tit 0 0 0 0 0 0 0 0 0 Oi N N N N N ..........:.......::• a$ b't' �oc�cqq�aoy ±��.tv�mNaQQ10 cgng�v�QiQde�bS� g:7►:::::':::: p e,N r Cii:d "v'i ?: V�vfTAO -wroaYnm ......... fJ WgWp 41 + pA �pAp �Wp ma ma V A {� t.1 pmVp (pOI -gyp 8 �y 8 (pp �ppp (per gyp pmt t� 8 O+ �..D:::'•:.�::':� W fD O O N + O W N {!1 V O O a f0 0� fri v v CD CD V maawN +O C� G ro. 1998 BUDGET SUMMARY BUDGET 1997. Housing Operating $ 847,371.00 BUDGET 1998 $ 826,891.00 Expenses and Capital (2.5 %) Outlay Housing Rehab Programs $1,600,000.00 $1,430,000.00 (17 %) Totals $2,447,371 $29256,891.00 BUDGET 1997 HRA Operating Expenses $1,063,673.00 BUDG ET 1998 $ 992,567.00 (6%) Capital- Outlay $ 666,000.00 $ 932,000.00' 40% Totals $1,729,673.00 $1,924,567.00 11 % ' This figure Includes the possible additional payment for the Cherrywood Apartment appeal (worse case scenario is $651000). It also includes $180,000 for Highway 65; $86,000 for 571' Avenue, and $15,000 for miscellaneous projects. Fridley HRA 1998 Budget Housing Loan Programs and Funding Sources Programs 5% Revolving Loan Program $ 884,000 Last Resort Loan Program $ 100,000 Target Neighborhood Program $ 200,000 Apartment Rehab Program $ 250,000 Total $1,434,000 Funding Sources Projected Loan Repayments $ 240,000 City's Loan Capital $ 384,000 HRA Budget $ 810,000 Total $1,434,000 1998 Budget Attachment 12/17/97 x Fridley HRA 1998 Budget Summary of Programs 5% Revolving Loan Program ($884.000) Provides a 5% loan to eligible Fridley homeowners for home repairs and Improvements. To qualify a.homeowner can have an annual income up to $58,650 or less, good credit and the ability to repay the loan. The maximum loan is $25,000 with terms up to 20 years. Funding History: 1995 1996 1997 Total Loans WA 105 59 164 Amount WA $ 1,472,320 $ 591,412 $ 2,063,732 Last Resort Loan Program ($100.000) Provides a deferred loan up ,to $10,000 to homeowners who cannot qualify for a loan or a grant due to income, credit or other financial problems. Program is available to households who earn up to $58,650. The loan is deferred until sale of the property. Interest accrues at 1% per year. Funding History: 1995 1996 1997 Total Loans WA 6 1 7 Amount WA $ 43,952 $ 10,000 $ 53,952 Target Nelghborhood Program ($200.000) ' Provides a loan up to $4,000 per homeowner. Loan is deferred until sale of the home. Homeowners must provide a dollar -for- dollar match in order to qualify. The loan does not accrue any Interest. Maximum household income is $58,650. Funding History: 1995 1996 1997 Total Loans 3 6 5 14 Amount $ 16,332 $ 43,952 $ 16,565 $ 76,849 Historical 8gu►es show Hyde Perk neighborhood only Program wN be expanded to Include the RlveMew Heights neighbor- hood in 1898. Apartment Rehab Program ($250.000) Details of this program will be developed in 1998. Multiple - family rehab has been identified as a priority. Funds will be used to provide loans and/or grants for apart- ment rehabilitation. Funding History: 1995 1996 1997 Total Loans WA WA WA WA Amount WA WA WA WA 1898 Budget Attachment 12N7197 BUDGET 1998 HOUSING COORD FUND (262) PERCENT 1997 1997 1998 INCREASE/ ACCOUNT DESCRIPTION BUDGET ESTIMATE BUDGET (DECREASE) HOUSING PROGRAM 4101 FULL TIME EMPLOYEE -REG 67,582 33,287 47,563 30- 4102 REGULAR 0/T PAY 4104 TEMPORARY EMPLOYEE -REG 16,614 19,140 4105 TEMP EMPLOYEE-OVERTIME 4112 EMPLOYEE LEAVE 9,408 5,746 8,077 14- 4120 MEDICARE CONTRIBUTIONS 1,116 806 1,084 3- 4122 SOCIAL SECURITY CONTRIS 4,773 3,446 4,636 3- 4125 ICMA CONTRIBUTION 3,449 2,477 2,397 31- 4131 HEALTH INSURANCE 4,608 2,881 2,289 50- 4132 DENTAL INSURANCE 360 150 180 50- _ 4133 LIFE INSURANCE 102 69 51 50- 4134 CASH BENEFIT 4150 YORKERS COMPENSATION 1,868 1,174 1,829 2- * PERSONAL SERVICES 93,266 66,650 87,246 6- 4220 OFFICE SUPPLIES 500 54 500 4221 OPERATING SUPPLIES 1,000 544 500 50- 4229 YORK ORDER TRANSFER-PARTS * SUPPLIES 1,500 598 1,000 33- 4330 PROFESSIONAL SERVICES 15,065 5,551 8,815 41- 4331 DUES & SUBSCRIPTIONS 350 588 1,230 f 251 4332 COMMUNICATIONS 750 476 750 4333 TRANSPORTATION 500 397 500 4334 ADVERTISING 8,000 4,919 6,500 19- 4335 PRINTING & BINDING 2,000 531 8,000 300 4337 CONFERENCES & SCHOOLS 5,500 3,384 500 91- 4338 UTILITY SERVICES 388 500 4340 SRVS CONTRACTED NON -PROF 80,300 53,366 57,850 28- 4346 MISCELLANEOUS 4350 PAYMENTS TO OTHER GOVTS 20,000 10,900 33,000 65 4354 UNCOLLECTIBLE ACCTS EXP * OTHER SERVICES & CHARGES 132,465 80,500 117,645 11- 4510 LAND 618,500 65,160 621,000 4520 BUILDING 4530 IMPS OTHER THAN BUILDING 4560 FURNITURE & FIXTURES 1,640 100- * CAPITAL OUTLAY 620,140 65,160 621,000 ** HOUSING PROGRAM 847,371 212,908 826,891 2- �. BUDGET 1998 HOUSING COORD FUND (262) PERCENT 1997 1998 INCREASE/ ACCOUNT DESCRIPTION BUDGET BUDGET (DECREASE) HOUSING PROGRAM 4101 FULL TIME EMPLOYEE -REG 67,582 47,563 30- LEVEL TEXT TEXT AMT 1 HOUSING COORDINATOR 47,563 47,563 4102 REGULAR 0/T PAY 4104 TEMPORARY EMPLOYEE-REG 19,140 LEVEL TEXT TEXT AMT 1 PART -TIME REMODELING ADVISOR (24 HOURS/WEEK) 19,140 19,140 4105 TEMP EMPLOYEE-OVERTIME 4112 EMPLOYEE LEAVE 9,408 8,077 14- LEVEL TEXT TEXT AMT 1 HOUSING COORDINATOR .5,945 REMODELING ADVISOR 2,132 8,077 4120 MEDICARE CONTRIBUTIONS 1,116 1,084 3- LEVEL TEXT TEXT AMT 1 HOUSING COORDINATOR 776 REMODELING ADVISOR 308 1,084 4122 SOCIAL SECURITY CONTRIB 4,773 4,636 3- LEVEL TEXT TEXT AMT 1 HOUSING COORDINATOR 3,317 REMODELING ADVISOR 1,319 4,636 4125 ICMA CONTRIBUTION 3,449 2,397 31- LEVEL TEXT TEXT AMT 1 HOUSING COORDINATOR 2,397 2,397 4131 HEALTH INSURANCE 4,608 2,289 50- LEVEL TEXT TEXT AMT 1 HOUSING COORDINATOR 2,289 2,289 4132 DENTAL INSURANCE 360 180 50- LEVEL TEXT TEXT AMT 1 HOUSING COORDINATOR 180 180 HOUSING COORD FUND (262) 4229 WORK ORDER TRANSFER -PARTS BUDGET 1998 PERCENT 1998 INCREASE/ BUDGET (DECREASE) 51 50- TEXT AMT 51 51 1,829 87,246 500 500 ' SUPPLIES 1,500 1,000 4330 PROFESSIONAL SERVICES 15,065 8,815 LEVEL TEXT 1 HOLSTAD AND LARSON (LEGAL SERVICES SCATTERED SITE) KRASS MONROE (CASSERLYIS CONSULTING) WELLNESS TESTING GAR HARGENS (ARCHITECTURAL WORK ON APARTMENTS) 4331 DUES 8 SUBSCRIPTIONS 350 1,230 LEVEL TEXT 1 RAHS PUBLICATIONS AMERICAN FAMILY HANDINAN (REMODELING ADVISOR) NAHRO MEMBERSHIP MINNESOTA SOLUTIONS REDEVELOPMENT INITIATIVE 4332 COMMUNICATIONS 750 750 LEVEL TEXT 'z TEXT AMT 1,329 500 1,829 6- TEXT AMT 500 500 50- TEXT AMT 500 500 33- 41- TEXT AMT 5,000 2,500 65 1,250 8,815 44 TEXT ANT 230 50 150 800 1,230 TEXT AMT 1997 ACCOUNT DESCRIPTION BUDGET 4133 LIFE INSURANCE 102 LEVEL TEXT 1 HOUSING COORDINATOR 4134 CASH BENEFIT 4150 WORKERS COMPENSATION 1,868 LEVEL TEXT 1 HOUSING COORDINATOR REMODELING ADVISOR * PERSONAL SERVICES 93,266 4220 OFFICE SUPPLIES 500 LEVEL TEXT 1 GENERAL SUPPLIES 4221 OPERATING SUPPLIES 1,000 LEVEL TEXT 1 SUPPLIES 4229 WORK ORDER TRANSFER -PARTS BUDGET 1998 PERCENT 1998 INCREASE/ BUDGET (DECREASE) 51 50- TEXT AMT 51 51 1,829 87,246 500 500 ' SUPPLIES 1,500 1,000 4330 PROFESSIONAL SERVICES 15,065 8,815 LEVEL TEXT 1 HOLSTAD AND LARSON (LEGAL SERVICES SCATTERED SITE) KRASS MONROE (CASSERLYIS CONSULTING) WELLNESS TESTING GAR HARGENS (ARCHITECTURAL WORK ON APARTMENTS) 4331 DUES 8 SUBSCRIPTIONS 350 1,230 LEVEL TEXT 1 RAHS PUBLICATIONS AMERICAN FAMILY HANDINAN (REMODELING ADVISOR) NAHRO MEMBERSHIP MINNESOTA SOLUTIONS REDEVELOPMENT INITIATIVE 4332 COMMUNICATIONS 750 750 LEVEL TEXT 'z TEXT AMT 1,329 500 1,829 6- TEXT AMT 500 500 50- TEXT AMT 500 500 33- 41- TEXT AMT 5,000 2,500 65 1,250 8,815 44 TEXT ANT 230 50 150 800 1,230 TEXT AMT BUDGET 1998 HOUSING WORD FUND 1262) PERCENT 1997 1998 INCREASE/ ACCOUNT DESCRIPTION BUDGET BUDGET (DECREASE) 1 HOUSING COORDINATOR REMODELING ADVISOR 4333 TRANSPORTATION 500 500 LEVEL TEXT 1 HOUSING COORDINATOR REMODELING ADVISOR 4334 ADVERTISING 8,000 6,500 LEVEL TEXT 1 REMODELING FAIR MOUSING PROGRAM REMODELING ADVISOR 4335 PRINTING 8 BINDING 2,000 8,000 LEVEL TEXT 1 REMODELING PLAN BOOK CFRIOLEY VERSION) REMODELING PLAN BOOK CREGIONAL VERSION) 4337 CONFERENCES 8 SCHOOLS 5,500 500 LEVEL TEXT 1 HOUSING SEMINARS REMODELING SEMINARS 4338 UTILITY SERVICES _500 LEVEL TEXT 1 UNPAID UTILITY BILLS (SCATTERED SITE HOMES) 4340 SRVS CONTRACTED NON -PROF 80,300 57,850 LEVEL TEXT 1 COMPUTER MAINTENANCE PRINTER MAINTENANCE CEE LOAN ORIGINATION FEES C98 LOANS) CEE INSPECTION FEES C98 LOANS) CRF LOAN SERVICING FEES 0250 LOANS IN PORTFOLIO) SPONSORSHIP OF ANNUAL REMODELING FAIR 4346 MISCELLANEOUS 4350 PAYMENTS TO OTHER GOVTS 20,000 33,000 500 250 750 TEXT AMT ISO 350 SOO 19- TEXT AMT 2,500 2,500 • 1,500 6,500 300 TEXT AMT 3,000 5,000 8,000 91- TEXT AMT 350 ISO 500 TEXT AMT 500 500 28- TEXT AMT 400 350 34,200 4,900 15,000 3,000 57,850 65 BUDGET 1998 HOUSING COORD FUND (262) PERCENT 1997 1998 INCREASE/ ACCOUNT DESCRIPTION BUDGET BUDGET (DECREASE) 1 1996 HOME PROGRAM MATCH CONTRIBUTION 15,000 FUNDS TO COVER 1998 CDBG SHORT -FALL (EXPENSE) 18,000 33,000 4354 UNCOLLECTIBLE ACCTS EXP * OTHER SERVICES 8 CHARGES 132,465 117,645 11- 4510 LAND 618,500 621,000 LEVEL TEXT TEXT ANT 1 PURCHASE 10 HOMES 8 555,000 AVG. 550,000 DEMOLISH 10 HOMES 8 $5,000 AVG. 50,000 WELL CAP 10 HOMES 8 $500 AVG. 5,000 SECURE 10 HOMES a1 S250 AVG. 2,500 CONDUCT ENVIRONMENTAL SURVEYS OF 10 HOMES 2,500 APPRAISALS (INCLUDING REVIEW APPRAISAL) 6,000 LOT SURVEYS 5,000 621,000 4520 BUILDING 4530 IMPS OTHER THAN BUILDING 4560 FURNITURE 8 FIXTURES 1,640 100- • CAPITAL OUTLAY 620,140 621,000 ** HOUSING PROGRAM 847,371 826,891 2- e � HRA OPERATING BUDGET SUMMARY ACCOUNT DESCRIPTION ADMIN CHARGES PERSONAL SERVICES OFFICE SUPPLIES OPERATING SUPPLIES REPAIR & MAINTENANCE SUPP SUPPLIES PROFESSIONAL SERVICES DUES & SUBSCRIPTIONS COMMUNICATIONS TRANSPORTATION ADVERTISING PRINTING & BINDING INSURANCE, MON-PERSONNEL CONFERENCES & SCHOOLS UTILITY SERVICES SRVS CONTRACTED NON -PROF RENTALS BUDGET 1998 - ----- - -- - -- ----- 81 - ------ ---- 1,355 --- - - - -- -- 650 -- -- - - ---- ------ 109 --- - -- --- --- -- -- - -- 650 PERCENT 1995 1996 1997 1997 1998 INCREASE/ ACTUALS ACTUALS BUDGET ESTIMATE BUDGET (DECREASE) 185,154 243,322 250,621 208,851 258,139 3 ------ - - - - -- ------ 185,154 - - - - -- ------ 243,322 - - - - -- ------ 250,621 - - - - -- ------ 208,851 - - - - -- ------- 258,139 - - - - -- 3 45 210 250 109 250 9,635 36 1,145 400 10,419 27 400 1,507 - ----- - -- - -- ----- 81 - ------ ---- 1,355 --- - - - -- -- 650 -- -- - - ---- ------ 109 --- - -- --- --- -- -- - -- 650 356,304 200,645 305,000 295,341 212,100 30- 280 252 165 73 165 1,737 742 675 659 675 130 491 600 5 600 21,938 504 17,000 4,526 17,000 999 2,090 2,950 16,732 3,534 20 9,635 9,841 8,214 12,276 10,419 27 410 1,507 1,600 1,179 1,600 4,176 7,904 3,500 333 3,500 228,543 41,389 31,750 30,990 33,150 4 MISCELLANEOUS 183,857 227,185 125,121 109,348 128,120 2 PAYMENTS TO OTHER GOVTS 304,548 307,193 315,827 157,270 322,915 2 ---- OTHER SERVICES & CHARGES -- -- -- -- ------ 1,112,557 - - - --- ------ 799,743 - - - --- --- 812,402 ---- - - - -- --- --- - - - - -- --- 628,732 733,778 ---- -- - - -- 10- LAND 3,667,040 548,694 651,000 651,000 BUILDING IMPS OTHER THAN BUILDING 15,000 281,000 1,773 PUBLIC UTILITY & IMPROVEM 2,061 ---- CAPITAL OUTLAY -- -- ---- - ----- 3,667,040 ------ -- 550,755 ---- - -- --- - ---- 666,000 ----- -- ------- - ---- ---- 932,000 --- -- ---- 40 M My AW i WAY MAW TWO Ago van KM A 05 At Ay s r ` S I' 5 Y ik"' itc h y AAA is Tv y i r tiff BUDGET 1998 HRA OPERATING BUDGET PERCENT 1997 1998 INCREASE/ ACCOUNT DESCRIPTION BUDGET BUDGET (DECREASE) AREA WIDE AREA WIDE 4107 ADMIN CHARGES 250,621 258,139 3 LEVEL TEXT TEXT AMT 1 ADMINISTRATIVE SERVICES (1997 X 3%) 252,079 ADMIN OVERHEAD (1997 X 3%) 3,511 MICRO COMPUTER CHARGE (1997 X 3%) 768 MINI COMPUTER (1997 X 3%) 1,781 258,139 * PERSONAL SERVICES 4220 OFFICE SUPPLIES LEVEL TEXT 1 AGENDA PREP 4221 OPERATING SUPPLIES LEVEL TEXT 1 MISCELLANEOUS FILM FILM PROCESSING ------ - - - - -- ------ - - - - -- ------- - - - - -- 250,621 258,139 3 250 250 400 400 TEXT AMT 250 250 TEXT AMT 100 100 200 400 " SUPPLIES ------ - - - - -- ------ 650 - - - - -- ------- - - - - -- 650 4330 PROFESSIONAL SERVICES 305,000 212,100 30- LEVEL TEXT 1 AUDIT FEES LEGAL (KNAAK; INCLUDES CHRYWD APPEAL) TIF DISTRICT REV /EXP ANALYSIS LAKE POINTE MARKETING/BUSCH SCHOOL DISTRICT AGREEMENTS NONPROGRAMMED STUDIES NONPROGRAMMED APPRAISALS NONPROGRAMMED ENV. AUDITS NONPROGRAMMED RELOCATION ASS. BRUCE A. LEISCH (FAST LUBE WELL TESTING) TAX INC ADMIN CHARGE FROM COUNTY CASSERLY (KRASS & MONROE) 4331 DUES & SUBSCRIPTIONS 165 165 LEVEL TEXT 1 CORPORATE REPORT TEXT AMT 2,500 15,000 10,000 10,000 500 75,000 15,000 10,000 10,000 2,000 12,100 50,000 212,100 TEXT AMT 25 BUDGET 1998 HRA OPERATING BUDGET PERCENT 1997 1998 INCREASE/ ACCOUNT DESCRIPTION BUDGET BUDGET (DECREASE) TWIN CITIES BUSINESS MONTHLY 20 CITY BUSINESS 25 NAHRO DUES (DACY) 15 BUILDER MAGAZINE 80 165 4332 COMMUNICATIONS 675 675 LEVEL TEXT TEXT AMT 1 POSTAGE 500 PHONE 175 675 4333 TRANSPORTATION 600 600 LEVEL TEXT TEXT AMT 1 APA OR NAHRO CONFERENCE 600 600 4334 ADVERTISING 17,000 17,000 LEVEL TEXT TEXT AMT 1 FRIDLEY VIDEO /BROCHURES 15,000 LEGAL ADS FOR TIF DISTRICTS 2,000 17,000 4335 PRINTING & BINDING 2,950 3,534 20 LEVEL TEXT TEXT AMT 1 COPIER ALLOCATION 2,034 ANNUAL REPORT IN CITY NEWSLETTER 1,500 3,534 4336 INSURANCE, NON - PERSONNEL 8,214 10,419 27 LEVEL TEXT TEXT AMT 1 ESTIMATE FROM FINANCE 10,419 10,419 4337 CONFERENCES & SCHOOLS 1,600 1,600 LEVEL TEXT TEXT AMT 1 LUNCH AND MEETING REIMBURSEMENTS 500 CONFERENCE LUNCHES 100 APA OR NAHRO REGISTRATION 500 MISCELLANEOUS 500 1,600 4338 UTILITY SERVICES 3,500 3,500 LEVEL TEXT TEXT AMT 1 LAKE POINTE ELECTRICITY FOR IRRIGATION 500 BUDGET 1998 HRA OPERATING BUDGET PERCENT 1997 1998 INCREASE/ ACCOUNT DESCRIPTION BUDGET BUDGET (DECREASE) LAKE POINTE WATER CHARGES 3,000 3,500 4340 SRVS CONTRACTED NON -PROF 31,750 33,150 4 LEVEL TEXT TEXT AMT 1 COURIER SERVICE 250 LAKE POINTE MAINTENANCE SERVICE 22,400 FRANK'S LAWN MAINTENANCE 500 LAKEPOINTE SPRINKLER MAINTENANCE 10,000 33,150, 4341 RENTALS 4346 MISCELLANEOUS 125,121 128,120 2 LEVEL TEXT TEXT AMT 1 MCGLYNNIS PAY AS YOU GO EXPENSE 95,916 PFW/OSBORNE CROSSING PAY AS YOU GO EXPENSE 9,286 SCOTT LUND PAY AS YOU GO EXPENSE 6,178 BOB SCHROER /EAST RANCH ESTATES PAY AS YOU GO 16,740 128,120 4350 PAYMENTS TO OTHER GOVTS 315,827 322,915 2 LEVEL TEXT TEXT AMT 1 SCHOOL DISTRICT REFUNDS 322,915 322,915 ------ -- - - -- ------ * OTHER SERVICES 8 CHARGES 812,402 - -- - -- ------ 733,778 - - - -- -- 10- 4510 LAND 651,000 651,000 LEVEL TEXT TEXT AMT 1 ADDITIONAL PAYMENT FOR CHERRYWOOD APT APPEAL 651,000 651,000 4530 IMPS OTHER THAN BUILDING 15,000 281,000 .1,773 LEVEL TEXT TEXT AMT 1 PLAZA TREE REPLACEMENT 10,500 REPLACEMENT DECORATIVE LIGHTS 4,500 57TH AVENUE PROJECT 86,000 HWY 65 IMPROVEMENTS 180,000 281,000 -- ---- - ----- ------ * CAPITAL OUTLAY 666,000 -- - - -- ----- 932,000 -- - - - - -- 40 ** AREA WIDE 1,729,673 1,924,567 11 ------ - - - - -- ------ *** AREA WIDE 1,729,673 - - - - -- ------- 1,924,567 - - - - -- 11 AT Now Y. x � � �� -_ � � �. ::riw �w.�M - l�s •`P�34lFYl." ,r wr,;�ae ��a! ' '� � NMI l R r s. Y s- Y SP yn i Qvv well Inn, OF Awn AMC 7, Alf A • � t�s �} �LL � c � - F u � S Yys - .,,h _ AW Y,q jot r t.� 3 a 7 STA wM�st ..�. li x`^n.:YJ.0 r �^� w�...a�'.�Y3.lve�mii�+�e k w n" _.... e �_ u•.s ,, _ x..�, x .� e» .. ....,._ _. .J_edMSaca-v ,.-rY�� .. _ ,.. .. F.. ., rZLWW1L��L'� moun Amount Expended' Budgeted OPERATING FUND Casserly Molzahn $46,299.07 -0- Holstad Larson $ 2,480.50 $ 15,000 HOUSING FUND Casserly Molzahn $ 4,725.00 $ 5,000 Holstad Larson 730.00 $ 5,600 1 This is the amount expended through November 1997. MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY DATE: December 18, 1997 TO: William Bums, Executive Director of HRA FROM: Barbara Dacy, Community Development Director SUBJECT: Consider Resolution Authorizing Access and Use of HRA Property for Right -of -Way Purposes SEH advised staff that MnDOT is requiring a "resolution" to authorize access for construction vehicles and use of the HRA property at the Fridley Executive Center site for right -of -way purposes. The attached drawing outlines the proposed intersection improvements for Lake Pointe Drive and West Moore Lake Drive. A temporary construction easement is needed around the construction area. MnDOT is requesting that the resolution also identify the area where the street is to be located as permanent right -of -way. The permanent right - of -way will very quickly be finalized in the final plat that MEPC is proposing to plat the property in order to construct the 100,000 square foot building on the west end of the site. The City has to pass a similar resolution for Moore Lake Park on the east side of the intersection. Recommendation Staff recommends that the HRA approve the attached resolution authorizing access and the use of HRA property for right -of -way purposes. BD:Is M -97 -515 RESOLUTION NO. HRA 1998 A RESOLUTION AUTHORIZING ACCESS AND USE OF RIGHT-OF-WAY FOR TH 65 10ENTRAL AVENUE/ LAKE POINTE DRIVE INTERSECTION IMPROVEMENT WHEREAS, on January 11, 1996, the Fridley Housing and Redevelopment Authority (HRA) authorized the City of Fridley to file an ISTEA (Intermodal Surface Transportation and Efficiency Act) application; and WHEREAS, on January 11, 1996, the Fridley HRA also requested the City to act on behalf of the HRA to complete the intersection improvement project; and WHEREAS, on March 14, 1997, the Fridley HRA approved a contract with Short- Elliott- Hendrickson to complete the final design and specifications for the project; and WHEREAS, the intersection improvement project requires the rebuilding of Lake Pointe Drive and West Moore Lake Drive; and WHEREAS, the reconstruction of Lake Pointe Drive and West Moore Lake Drive requires that certain areas of land within the Fridley Executive Center site be used for right -of -way purposes and construction access; and WHEREAS, the limits of the proposed right -of -way areas and construction areas are identified on Exhibit A of the Resolution attached hereto; and WHEREAS, the Fridley HRA agrees to permit construction vehicles to access the Fridley Executive Center area in order to complete the required improvements as outlined in the final plans; and WHEREAS, the proposed permanent right -of -way for Lake Pointe Drive and West Moore Lake Drive will be dedicated on a plat. NOW, THEREFORE, BE IT RESOLVED that the Fridley Housing and Redevelopment Authority hereby grants the necessary area for the Lake Pointe Drive and West Moore Lake Drive improvements and also authorizes access for construction vehicles to complete the improvement according to the approved final plans. 2 -A Resolution No. HRA -1998 Page 2 PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF FRIDLEY THIS a DAY OF JANUARY 1998. LAWRENCE R. COMMERS - CHAIRPERSON WILLIAM W. BURNS, EXECUTIVE DIRECTOR 2 -B e g ~T. i a a \ T $`� l \ 81 0 \ \ 1 rn IA D a o 1A 1 $ a pp c z �o m ` NC N mm -, Z :�. C Z p m AZ tA y V a+ °v m :o 0 rw0 m Z ', �aO n .._ h _ ._•.If �F 1G n L4 m co e l O O ,ym N N A \ Z !m \ Z t m cn _ n � PEST M00 :^ A \' RE LAKE DR. rn 0 1 in rn po fn i \ A. C3 O s An X rn N c N O 0 m if*1 00 h \ 1 r rn o-•1 \ m M �� Y r j o 0 c � c Z 7 • ' 000 in �v o N \\ • ' m z LP 1m T 3 4A m TO: FRIDLEY KR.A FROM: CITY OF FRIDLEY RE: BILLING FOR ADMINISTRATIVE AND OPERATING EXPENSES DECEMBERR 1997 (12th Month) Account Vs for HRA's Use ADMINISTRATIVE BILLING: ADMINISTRATIVE PERSONAL SERVICES ADMINISTRATIVE OVERHEAD COMPUTER OVERHEAD (For Micro & Mini computers) TOTAL ADMINISTRATIVE BILLING : 460- 0000 - 430 -4107 OPERATING EXPENSES: STAR TRIBUNE - AD 262- 0000-430 -4334 U.S. WEST - PHONE 460- 0000 - 4304332 Account ft for CR CIWs Use Code 20,394.75 101 - 0000 - 341 -1200 H1 284.13 101- 0000 - 336 -3000 HA 20626 101 - 0000 - 336 -3000 HA 20.885.14 823.05 236- 0000 - 336 -3000 HA 22.79 236 - 0000 - 336 -3000 HA TOTAL OPERATING EXPENSES: 845.84 BENEFITS EXPENSES: CITY OF FRIDLEY - HEALTH INS 262 -0000 -219 -1001 (185.59) 236- 0000 - 219 -1001 11 CITY OF FRIDLEY - DENTAL INS 262 -0000 -219 -1100 (22.53) 236 - 0000 - 219 -1100 12 CITY OF FRIDLEY - LIFE INS 262- 0000 - 219 -1200 0.00 236 - 0000 - 219 -1200 13 TOTAL BENEFITS 'EXPENSES: (208.121 TOTAL EXPENDITURES - DECEMBERR 1997 File: \EXDATAWRA \TIFU7BILLxIs Details 3 • �y P M I I P 1 1 I 1 I I 1 1 W Ix 0 W / I Q m 1 I a � I I I z 1 1 1 r / 1 ad . 1 O 1 . a . 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W I -►tw AO wHiL 3 Z I T i •J[CW W IYW UE E w i Q I `Z CL >ccZHW O E E ! I •O •Hb oc¢ - -U O 0 1 ¢fLQa U EV�ir¢iw - . P- J ! O 1 UEE >YN OJfL LL 0 W i A i •O¢NWfLA > I Z I UUUZ¢QYiiCHN2N 0` w I w W a A I > l 4WH•HZY¢OC E w i i f•J tY i I a i I I I zAz P- Q 1 1 Ol I I \ 13 1 I 0 1 1 \47N I i :+EO 1 i r rt- rNrr- r - tirrr u M I t O. 0. O. 0. 0. 0. 0% 0• T O 0. a- n t Y W I O. 0. O. 0. 0. 0. 0. 4. 0. 0. O. 0P W E} I U !- 1 a a a a a.4 a a a a a a ¢mJ 1 MQ 1 O\• aNaa00•0\•a0\•O\•0\.0\. 6L U I U I a a a a a -1 1,1.4 a as w0H i aLtIx I I CJNCJNNNNNNNNN CL iL LL 1 i .+aa -1 ,4 a.l al- 111..+.4 3=Cil n MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY DATE: December 18, 1997 TO: William Bums, Executive Director of HRA ,16 FROM: Barbara Dacy, Community Development Director SUBJECT: 1998 School Referendum Levy Return Agreements The Finance Department has prepared a memo outlining the proposed referendum levy returns for each school district in the City. At the November meeting, the Chairperson wanted to know if the TIF return funds displaced state monies. I contacted Dr. Mary Ann Nelson from School District #14. She stated that the TIF returns do not reduce state funding and the school district relies heavily on the funds.from the HRA. Dr. Nelson may be present at the January 8, 1998, meeting. Four copies of agreements are attached, one for each school district. -�•. • Staff recommends that the HRA approve the 1998 school referendum levy TIF return agreements. The City Council will act on the agreements as well at its January 26, 1998, agenda. BD:Is M -97 -513 �d TO: WILLIAM W. BURNS, EXECUTIVE DIRECTOR FROM: RICHARD D. PRIBYL, FINANCE DIRECTOR CRAIG A. ELLESTAD, ACCOUNTANT SUBJECT: 1998 SCHOOL REFERENDUM LEVY RETURN AGREEMENTS DATE: DECEMBER 15,1997 Attached are the 1998 School District Referendum Levy Return Agreements to be placed on the HRA's agenda for Thursday, January 8th. These annual agreements need to be approved by both the HRA Commission & the City Council. If approved by the Commission, you will then need to put this item on the City agenda for approval. The estimated total levy return for 1998 before delinquents is $322,915. This is $7,088 more than the estimated amount for 1997. There is an overall market value increase which increases the amount returned. Regarding Sch Dist # 13, the Retained Captured Tax Capacity Value went from $17,595 to $50,937. The table below breaks the referendum levy return down by school district : School Estimated Estimated Percent District 1997 1998 Change 11 $17,930 $20,816 16.1% 13 $3,878 $11,226 189.5% 14 $227,121 $223,346 -1.7% 16 $66,898 $67,527 0.9% Total : $315,827 M22.915 ATTACHMENTS: Referendum Levy Retum Agreements He: �E=ATAWRA %17 SCH98ESTA etter -HRA 4-A Z LL LU J Z LU w W LL ui U N 0 TJ i U N LL O CQ L J F- U 02 N D M '? (o Z t Q C •- LL R E � W J o C (� M N OR cq to O CO) �k # Z 4k � U N o OOD ODD 1'9 N O N O vm H vm Cl) vm ti I Tm N W) oo 1* � M (0 0 1 v Tm L- CO) Go (L) c0 t0 0 to N co CD 0 CM W) N N co N O co co (NV M Cl) O e Off ((O co) N It N N 04 t~ Off N N Cl) ab Li (O_ c O Oafs o U Q rn M N M P P tf) (o N M N CL qt CO) N O) � O (O C o (D IM a� r- W) c N ('9 Q M O O N ( co NN N M � N N o E r N t� r M N (") C O tel IM ti o 00o tvi V r (m7 (o V (O 0) N 'O P N E OA (o o) co O Go Cl) Go O cq o d N M (MO P O r P C •• 0o 0 s o ti o a d c (t°o W U (a N1 (o c J F- U 02 N D M '? (o I � ltf � ONE co rn rn T T a� r D m rn C C m C O m U c c 0 C C m o U U m Y l0 J � )U m V o a o LL m 0 0 0 10 t -7 m { 0 c 0 0 0 LL LL LL P P P P O OI 0) O C C C C: rn rn rn tm m m rn rn rn P P T rn M U F 3 0 Z t Q C •- LL R E W J o C (� p doULLm fn J cq to O CO) �k # Z 4k ~ U o I � ltf � ONE co rn rn T T a� r D m rn C C m C O m U c c 0 C C m o U U m Y l0 J � )U m V o a o LL m 0 0 0 10 t -7 m { 0 c 0 0 0 LL LL LL P P P P O OI 0) O C C C C: rn rn rn tm m m rn rn rn P P T rn M U F 3 0 DATE: December 18, 1997 MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY TO: William Bums, Executive Director of HRA e FROM: Barbara Dacy, Community Development Director SUBJECT: Consider Resolution Authorizing Execution of Redevelopment Contract with MEPC American Properties As of the writing of this memo, MEPC American Properties is responding to the outline of terms for the redevelopment contract as discussed at the HRA meeting on December 11, 1997. It is anticipated, however, that a contract will be finalized within the next week. In order to publish the agenda prior to holiday vacations, the agenda has been prepared knowing that some of these items may have to be delivered to the HRA on Monday evening, January 5, 1998, or by mail during the next two weeks. BD:Is M -97 -512 5 MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY DATE: January 5, 1998 TO: William Bums, Executive Director of HRA FROM: Barbara Dacy, Community Development Director SUBJECT: Updated Item #5 for January 8, 1998, HRA Agenda: Consider Resolution Authorizing Execution of Redevelopment Contract with MEPC American Properties The redevelopment contract with MEPC to construct a 100,000 square foot, one -story tech flex base is enclosed for the HRA's approval. The proposed contract has been prepared in concert with the terms which were discussed by the HRA at its December 11, 1997, meeting. Major features of the contract include: 1. The purchase price is to be $2.50 per square foot, approximately $1,000,000. 2. The redeveloper will be required to enter into a minimum assessment agreement. 3. The closing will occur on April 1, 1998, or on another date as the HRA and the developer shall mutually agree to in writing. 4. The project should be initiated no later than May 1, 1998, or within 90 days of the date of the agreement and is to be completed by May 1, 1999, or 13 months subsequent to the date of closing, whichever occurs later. The HRA is to provide a survey to the redeveloper prior to March 1, 1998, along with an owner's title insurance policy. A survey was completed in 1996, and staff will be initiating the appropriate steps to initiate the owner's title insurance policy. The contract has been sent to MEPC and its attorney for review. Comments from MEPC have not been received as of the writing of this memo. A verbal update and any modifications will be presented on Thursday at the meeting. Redevelopment Contract with MEPC American Properties January 5, 1998 Page 2 Staff recommends that the HRA approve the resolution authorizing execution of the redevelopment contract with MEPC American Properties, Inc. BD:Is M -98-01 RECEIVED JAN 0 21998 KRASS MONROE, P.A. ATTORNEYS AT LAW ■ James R Casserly Emailjamesc@Arassmonroe.com Direct Dial (612) 885 -1296 MEMORANDUM To: City of Fridley Attn: Barbara Dacy, Community Development Director William Burns, City Manager MEPC American Properties, Inc. Attn: David M. Jellison, Vice President Doherty Rumble & Butler Attn: David C. Selligren, Esq. From: James R. Casserly Date: January 2, 1998 Re: Contract for Private Redevelopment and Restated Contract for Exclusive Negotiations Between the Fridley HRA and MEPC American Properties, Inc. Our File No. 9571 -14 Enclosed each of you will find the following. 1. A Contract for Private Redevelopment By and Between The Housing and Redevelopment Authority in and for the City of Fridley, Minnesota and MEPC American Properties, Inc. This Contract is very similar to contracts you have previously executed The Redeveloper is to pay cash for approximately 9 acres of the Fridley Executive Center Site and is to construct a 100,000 sq. ft. Flex Space facility that will have a value upon completion of approximately $6,000,000. An Assessment Agreement is to be executed by the Redeveloper guaranteeing the Minimum Market Valuation. In addition there is a tax deficiency guaranty in which the Redeveloper is to make up any short fall in taxes resulting from a lower Minimum Market Valuation. In the event of non - performance after the Redevelopment Property is closed, there is a right of reverter which allows the Authority to recover the property. There is only one substantive change in this draft of the Contract from the terms that were proposed in our memo of December 11, 1997. In that memo we indicated that an earnest SURE 1100 SOUTHPOINT OFFICE CENTER • 1650 WEST 82ND STREET • BLOOMINGTON, MINNESOTA 554314447 TELEPHONE 6121885-5999 • FACSIMILE 6121885-5969 money deposit would be made in the amount of $30,000. Because of the approval process the Redeveloper has to follow before it can close on any property, it seemed more prudent to simply have the Redeveloper pay a fixed sum. Then if the property were not closed by an agreed upon daze, in this instance May 1, 1998, the Contract would simply terminate and the Redeveloper would forfeit the amount it had deposited. We are calling this deposit a Processing Fee, and it is to be in the amount of $15,000 and would pay for various expenses such as a survey with very detailed information and a title commitment. The Processing Fee would be applied to the Purchase Price if the closing occurs. It should be noted that the Redeveloper wanted an agreement which was contingent upon its Board of Directors approving its own acquisition of the Redevelopment Property; in short the Authority and Redeveloper would have entered into an Option Agreement for another four (4) months. The approach used in the Contract is the traditional approach we have followed. The Redeveloper has a certain period of time in which to engage in its "due diligence" and then must decide to purchase the property. 2. A copy of the terms of Redevelopment Contract contained in our memo to the City of Fridley and MEPC dated December 12, 1997. The only change is the one regarding the earnest money as noted above. 3. A Resolution authorizing execution of the Contract for Private Redevelopment. 4. A Restated Contract for Exclusive Negotiations By and Between the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota and MEPC American Properties, Inc. The Restated Contract adheres to the terns that were outlined in our memo of December 11, 1997. We have tried to update the Marketing Program which was an important element of the original Contract for Exclusive Negotiations. However, the terms for the revised Marketing Program which is attached as Schedule B may need some additional refinement. 5. The Memo dated December 11, 1997 from me to the City of Fridley and MEPC American Properties, Inc. regarding the terms of the Restated Contract for Exclusive Negotiations. 6. A Resolution authorizing execution of the Restated Contract. If there are any questions or problems regarding any of these documents, please give us a call. JRC /jms Enclosures GAMDATATFRIDLMIACOR1CITY 18.DOC • Page 2 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY COUNTY OF ANOKA STATE OF 2VIINNESOTA RESOLUTION NO. A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A CONTRACT FOR PRIVATE REDEVELOPMENT BY AND BETWEEN THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY FRIDLEY AND MEPC AMERICAN PROPERTIES, INC. 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 enter into a Contract For Private Redevelopment (the "Contract ") with MEPC American Properties, Inc. (the "Redeveloper "). Section 2. Findings. 2.01. The Authority hereby finds that it has approved and adopted a development program known as the Modified Redevelopment Plan for its Redevelopment Project No. 1 (the "Redevelopment Program ") pursuant to Minnesota Statutes, Section 469.001 et seq. 2.02. The Authority hereby finds that the Contract promotes the objectives as outlined in its Redevelopment Program. Section]'). Authorization for Execution and Delivery. 3.01. The Chairman and the Executive Director of the Authority are hereby authorized to execute and deliver the Contract when the following condition is met: - Substantial conformance of a Contract to the Contract presented to the Authority as of this date with such additions and modifications as the Officers may deem desirable or necessary as evidenced by the execution hereof. Adopted by the Board of Commissioners of the Authority this day of , 199_. Chairman ATTEST: Executive Director b KRASS MONROE, P.A. ATTORNEYS AT LAW ■ James R Casser-ly Email jamesc,—ahrmsmonroe.com Direct Dial (612) 885 -1296 MEMORANDUM To: City of Fridley Attn: Barbara. Dacy, Community Development Director William Burns, City Manager MEPC American Properties, Inc. Attn: David M. Jellison, Vice President From: James R Casserly Date: 12/11/97 Re: Terms of Redevelopment Contract Our File No. 9571 -14 Authoritv: Housing and Redevelopment Authority in and for The City of Fridley, Minnesota Redeveloper: MEPC American Properties, Inc., a Delaware Corporation Size: Approximately 9 acres but the least amount of land to accommodate the project. Location: Western end of Fridley Executive Center Price: 2.50 /sq. ft.(approximate $1,000,000) $30,000 Earnest Money, balance at closing. SUITE 1100 SOUTHPOINT OFFICE CENTER • 1650 WEST 82ND STREET • BLOOMINGTON, MINNESOTA 55431.1447 TELEPHONE 6191885 -5999 • FACSIMILE 612/885 -5969 Execution of Redevelopment Contract: January 30, 1998 Payment of Earnest Money: January 30, 1998 Closing on Property: April 1, 1998 Construction Commencement: May 1, 1998 Construction Completion: May 1, 1999 Project (Minimum Improvements): 100,000 sq. & Flex Space Building with brick and glass exterior with an approximate completion for office usage of 50 %. Project will be designed to be compatible with an Authority approved Revised Site Plan. Authority Approvals: Redevelopment Contract; Construction Plans; Master Plan. Redeveloper Approvals: Redevelopment Contract and the project after Redeveloper "due diligence." If project not approved then the Authority shall be reimbursed its out of pocket costs. Assessment Agreement: Minimum Market Value of $60.00 /sq. & ($6,000,000) to be effective January 2, 2000 (for pay 200 1) and valid through January 2, 2010. Authoritv Security: Survev: Marketable Title: Form of Deed: • Page 2 A right of reverter for non performance. Provided by Authority Provided by Authority (Title Commitment only) Quit Claim Deed Inspection: Full right of inspection as long as Authority is indemnified. Environmental Representations: None. Zonins?: Project is a permitted use. Assignability: Not assignable until Certificate of Completion is issued except as a "Like Kind Exchange" or except to an entity controlling, controlled by or under common control of the redeveloper. Covenants: For assuring quality control on balance of site. JRCrms GAWPDATA+VRIOLEYN4TORCITY ITDOC • Page 3 DATE: December 18, 1997 MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY TO: William Bums, Executive Director of HRA4Ab FROM: Barbara Dacy, Community Development Director SUBJECT: Consider Resolution Authorizing Execution of Restated Contract for Exclusive Negotiations As of the writing of this memo, MEPC has not responded to the outline of terms and conditions regarding the Restated Contract for Exclusive Negotiations, as was presented to the HRA on December 11, 1997. It is hoped that the contract can be finalized in the next week. Because of holiday vacations, the agenda is being published in advance. It is anticipated that the contract and resolution may be sent directly to the HRA within the next two weeks or delivered on Monday, January 5, 1998. BD:Is M -97 -511 MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY DATE: January 5, 1998 /�, TO: William Bums, Executive Director of HRA� I° FROM: Barbara Dacy, Community Development Director SUBJECT: Updated Item #6 for January 8, 1998, HRA Agenda: Consider Resolution Authorizing Execution of Restated Contract for Exclusive Negotiations The Restated Contract for Exclusive Negotiations applies to the remaining portion of the Fridley Executive Center site, exclusive of the nine acre parcel for the tech flex building. The Restated Contract contains the terms which were discussed by the HRA at its December 11, 1997, meeting. Major features include: Section 5.1 A establishes a termination date of December 31, 1998. 2, Section 5.1 B states that the agreement will terminate 60 days after the sale, assignment, or transfer of a majority of the redeveloper's assets or stocks. This section also provides the HRA to approve a "permitted assignee" after considering, among others, the following criteria: a. Capitalization b. Development and leasing personnel C. The assignee's policy for leasing and holding properties 3. Section 6.1A prohibits the redeveloper from assigning the agreement except as discussed in 5.1 B. 4. MEPC is required to continue marketing efforts on the remaining portion of the site. Marketing the property would include mailings, advertising, or special events. Restated Contract for Exclusive Negotiations January 5, 1998 Page 2 5. Section 6.1 E provides the HRA with the ability to negotiate directly with and sell land to potential users who are on file with the HRA's attorney as of the date this agreement is authorized by the HRA. At this time, we are still awaiting comments from MEPC on the proposed Restated Contract. A verbal update with any modifications will be provided at the meeting. Staff recommends that the HRA approve the resolution and authorize the Chairperson and Executive Director to execute the Restated Contract. BD:Is M -98-02 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY COUNTY OF ANOKA STATE OF INIINNIESOTA RESOLUTION NO. A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A RESTATED CONTRACT FOR EXCLUSIVE NEGOTIATIONS BY AND BETWEEN THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY AND MEPC AMERICAN PROPERTIES, INC. 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 enter into a Restated Contract For Exclusive Negotiations (the "Contract ") with MEPC American Properties, Inc. (the "Redeveloper "). 1.02. The Authority and the Redeveloper previously executed a Contract for Exclusive Negotiations dated as December 1, 1995. Section 2. Findings. 2.01. The Authority hereby finds that it has approved and adopted a development plan known as the Modified Redevelopment Plan for its Redevelopment Project No. 1 (the "Redevelopment Plan") pursuant to Minnesota Statutes, Section 469.001 et seq. 2.02. The Authority hereby finds that the Contract promotes the objectives as outlined in its Redevelopment Plan. Section 3. Authorization for Execution and Delivery. 3.01. The Chairman and the Executive Director (the "Officers ") of the Authority are hereby authorized to execute and deliver the Contract when the following condition is met: Substantial conformance of a Contract to the Contract presented to the Authority as of this date with such additions and modifications as the Officers may deem desirable or necessary as evidenced by the execution hereof. Adopted by the Board of Commissioners of the Authority this day of , 1998. Chairman ATTEST: Executive Director G: \WPDATA \F \FRIDLEY \I9 \DOC \RESTATED RESOLUTION.DOC KRASS MONROE, P.A. ATTORNEYS AT LAW ■ James R Casserly Email jamesc,'a-,krassmonroe.com Direct Dial (611) 885 -1296 MEMORANDUM To: City of Fridley Attn: Barbara Dacy, Community Development Director William Burns, City Manager MEPC American Properties, Inc. Attn: David M. Jellison, Vice President Doherty Rumble & Butler Attn: David C. Sellergren From: James R. Casserly Date: December 11, 1997 Re: Terms of Restated Contract For Exclusive Negotiations with MEPC Our File No. 9571 -14 Authority: Housing and Redevelopment Authority in and for The City of Fridley, Minnesota Redeveloper: MEPC American Properties, Inc., a Delaware Corporation Pro a Fridley Executive Center site. Term: 1 year Purchase Price: Office Tract: first building site for multi level office at 50% of appraised market value; subsequent sites for multi level office at $10.00 /site. Commercial Tract: 75% of appraised market value. Renewable: Every 6 months thereafter with consent of both parties. SUITE 1100 SOUTHPOINT OFFICE CENTER • 1650 WEST 82ND STREET • BLOOMINGTON, MINNESOTA 55431 -1447 TELEPHONE 6121885 -5999 • FACSIMILE 6121885 -5969 Termination: Within 60 days of the sale, transfer or assignment of the Redeveloper. Criteria for termination include the following: 1. Reduced Capitalization. 2. Change in development staff. 3. Change in policy of leasing and holding assets. Redeveloper Responsibilities: 1. Submit Revised Site Plan for Authority approval. 2. Promote and market site in accordance with Revised Site Plan. 3. Disseminate marketing materials and provide revisions when necessary. 4. Work with Authority and City staff. 5. Prepare plat and revisions thereto as required by the City. Authority Responsibilities: 1. Provide environmentally acceptable site. 2. Provide marketable title and surveys 3. Complete Highway 65 intersection improvements. 4. Assist Redeveloper with achieving maximum density and market valuation of the site in accordance with the Revised Site Plan. 5. Refer all third parry inquiries. 6. Obtain Indirect Source Permit. 7. Prepare Environmental Assessment Worksheet or Environmental Impact Statement. 8. Help secure approval of a storm water drainage plan. Joint Responsibilities: 1. Coordinate construction of public improvement with construction of any Minimum Improvements. 2. Develop architectural standards and controls that will insure a uniform and high quality development of the entire site. 3. Execute contracts for Private Redevelopment as needed. • Page 2 C Exclusion: Those potential user(s) who are on file with the Authority's attorney, as of the date this Agreement is authorized by the Authority, shall be excluded from this Agreement. Any excluded party shall not be in the business of developing sites for lease or sale and must conform to the Revised Site Plan, the architectural standards and controls and any agreements bmveen the Redeveloper and the Authority regarding site development issues. Assignability: Not assignable by the Redeveloper JRC /jms G:IWPDATA\FIFRIDLEYH41COR1CITY 16.DOC • Page 3 Draft: December 30, 1997 RESTATED CONTRACT [•o EXCLUSIVE NEGOTIATIONS By and Between HOUSING AND REDEVELOPMENT AUTHORITY In and For THE CITY OF FRIDLEY, MINNESOTA W-j MEPC AMERICAN PROPERTIES, INC. This document was drafted by: Krass Monroe, P.A. (J.R.C.) Suite 1100 Southpoint Office Center 1650 West 82nd Street Minneapolis, MN 55431 (612) 885 -1296 RESTATED CONTRACT FOR EXCLUSIVE NEGOTIATIONS THIS AGREEMENT, effective as of this lsc day of January, 1998, is between the Housing and Redevelopment Authority in and for the City of Fridley, having its principal offices at 6431 University Avenue N.E., Fridley, Minnesota, 55432, and MEPC American Properties, Inc., a Delaware corporation with its Minnesota office at 1550 Utica Avenue South, Suite 120, Minneapolis, Minnesota 55416. WHEREAS, the Redeveloper and the Authority executed a Contract for Exclusive Negotiations effective as of December 1, 1995 which has now expired; and WHEREAS, the Redeveloper is proposing to develop the area identified on the map attached as Schedule A and is requesting that the Authority to continue to negotiate exclusively with the Redeveloper while the area is being studied, designed and marketed; and WHEREAS, the Authority is willing to continue to negotiate exclusively with the Redeveloper provided certain conditions described below are met. 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: Section 1.1. Definitions. In this Agreement unless a different meaning clearly appears from the context: "Agreement" means this Agreement, as the same may be from time to time modified, amended, or supplemented. "Authority" means the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota. "City" means the City of Fridley, Minnesota. "Council" means the Council of the City. "Marketing Plan" means the program to market the Redevelopment Project. The Marketing Plan is further described on Schedule B attached to this Agreement. "Minimum Improvements" means as follows: 1 A. For the Office Tract it is the construction of Class A office buildings of not less than 50,000 square feet and containing not less than three stories for each building. The office buildings may contain some ancillary space for service retail that is needed to promote and develop a Class A corporate office park. At the Westerly end of the Office Tract, approximately 9 acres may be used to develop a 100,000 sq. ft. multi purpose high tech single level building (the "Flex Space Building ") with a brick and glass exterior which is compatible with the Revised Master Plan. B. For the Commercial Tract it includes any use described for the Office Tract and further includes commercial uses such as restaurants, banks, day care centers, hotels, medical clinic, convention center and service retail but not general retail. "Party" means a party to this Agreement. "Purchase Price" means the amount to be paid by the Redeveloper for the Redevelopment Property excluding the land needed for the Flex Space Building. The Purchase Price for the Office Tract excluding the land needed for the Flex Space Building shall be an amount equal to fifty percent (50 %) of the market value established by an independent appraiser selected by mutual agreement of the Authority and the Redeveloper, provided that the appraiser shall have determined the value within nine (9) months of the date of closing. Only the first building in the Office Tract will be eligible, provided that the building does not exceed 80,000 square feet, for the Purchase Price described above. Since subsequent buildings in the Office Tract will have structured parking, the Purchase Price shall be ten dollars ($10.00) for each parcel. The Purchase Price for parcels in the Commercial Tract shall be an amount equal to seventy -five percent (75 %) of the market value established by an independent appraiser selected by mutual agreement of the Authority and the Redeveloper, provided that the appraiser shall have determined the value within nine (9) months of the date of closing. "Purchase Price Payments" means payments received by the Authority for the Purchase Price. "Redeveloper" means MEPC American Properties, Inc., a corporation organized and existing under the laws of the State of Delaware. "Redevelopment Contract" means the Contract for Private Redevelopment described in Section 4 of this Agreement. "Redevelopment Project" means the Redevelopment Property and the Minimum Improvements. "Redevelopment Property" means the real property described in Schedule A of this Agreement. That portion to the west compromising approximately 24.56 acres shall be referred to as the Office Tract. That portion to the East comprising approximately 8.21 acres shall be referred to as the Commercial Tract. "Revised Master Plan" means the plan detailing the overall development of the Redevelopment Project as a corporate office park with a commercial component on the Commercial Tract. The Master Plan shall be prepared by the Redeveloper and approved by the Authority and the City. "State" means the State of Minnesota. "Tax Increment" means only that portion of the real estate taxes paid solely with respect to the Redevelopment Property (which is part of the property in the Tax Increment District) and which is remitted to the City as tax increment pursuant to the Tax Increment Act. "Tax Increment Act" means Minnesota Statutes, Sections 469.174 - 469.179. "Tax Increment District" means Tax Increment Financing District No. 6 created by the Council in connection with the Redevelopment Program. "Tax Increment Plan" means the tax increment financing plan adopted by the Authority in connection with the creation of the Tax Increment District. "Unavoidable Delays" means delays which are the direct result of strikes, other labor troubles, unusually severe or prolonged bad weather, Acts of God, fire or other casualty to the Minimum Improvements, 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 which directly result in delays. Section. 2.1. Representations by the Authori ty. The Authority represents as follows: (A) The Authority is a public body duly organized and existing under the laws of the State. Under the provisions of the Act, the Authority has the power to enter into this Agreement and carry out its obligations hereunder. (B) The Authority is the fee owner of the Redevelopment Property. 3 (C) The Authority shall use Purchase Price Payments as needed to assist the Redeveloper with the costs of structured parking in the Office Tract. Section 2.2. Representations by the Redeveloper. The Redeveloper represents as follows: (A) The Redeveloper is a Delaware corporation, organized and existing in good standing under the laws of Minnesota, is authorized to transact business in the State, has duly authorized the execution of this Agreement and the performance of its obligations hereunder, and neither the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement will constitute a breach of any obligations of the Redeveloper under the terms and conditions of any indebtedness, agreement or instrument of whatever nature to which Redeveloper is now a parry or by which it is bound, which breach will materially adversely affect the ability of Redeveloper to perform its obligations under this Agreement. (B) The Redeveloper's mission for this Redevelopment Property is to develop multi - tenant, multi -story office buildings with support services commensurate with successful office parks. (C) The Redeveloper will pursue all prospective users including those interested in build -to -suit or land purchases which fulfill the economic and aesthetic vision described in B above and conform to the Revised Master Plan. (D) While the Office Tract has priority for development, the Authority will not unreasonably withhold its approval of those projects in the Commercial Tract that are identified in the Revised Master Plan and are essential in attracting users to the Office Tract. (E) The first office building may have temporary surface parking but will be designed to accommodate structured parking of two or more levels. With the development of a second building, the two buildings will be served by a combination of structured and surface parking. Subsequent buildings will be constructed with structured parking but may also have surface parking. Section 3.1. Redeveloper Responsibilities. The Redeveloper shall be responsible for all costs associated with the marketing and development of the Redevelopment Project. The Redeveloper shall implement the Marketing Plan generally as follows: A. Establish office market data on this location and determine the corporate users and amenities for space in the Redevelopment Project. 4 B. Review any previous plans and design a Revised Master Plan as necessary to maximize the site and meet the requirements of the corporate users (in building size, floor plate, quality, timing and market rate) for this location. The Revised Master Plan will be presented to the City and Authority for their review and approval. and the Redeveloper shall reasonably adjust the Revised Master Plan consistent with market needs as requested by the City and Authority. C. Develop marketing materials such as fliers and brochures to assist in marketing efforts for mailings, advertising, proposals to corporate users, broker parties, press releases, etc. Scheduled timing of these marketing events and materials are set forth in Exhibit B. D. The official announcement to the public of the Redevelopment Property would be achieved by the activities shown on Exhibit B including: Broker special event on site News releases Corporate user presentations Mailings to prospects E. Investigate the adequacy of soils, utilities, and street systems for the Revised Master Plan. F. Review and comment upon the adequacy of the existing indirect source permit and environmental assessment worksheet for the Revised Master Plan implementation. G. Review and comment upon the adequacy of existing ordinances to facilitate development of the Revised Master Plan. H. Investigate the status of title, and review existing environmental reports furnished by the Authority regarding any hazardous substances on the Redevelopment Property. I. Every 90 days provide a written activities report to the Authority which describes the Redeveloper's activities pursuant to this Agreement. J. Cooperate with the City and Authority in reasonable and appropriate ways. K. Prepare plat and revisions thereto as required by the City. 5 Section 3.2. Authority Responsibilities. The Authority shall be responsible for the following: A. Indirect source permit and associated traffic analyses (amended and/or reactivated original) for the Redevelopment Property. B. Provide environmental assessment worksheet, environmental impact statement or modification thereof that has previously been prepared. C. Provide any additional environmental investigation that has previously been prepared. D. Provide any necessary infrastructure changes, including street and intersection improvements, due to the Revised Master Plan. E. Refer all third party inquiries regarding use, availability, and development potential of the Redevelopment Property to the Redeveloper. F. Recommend changes to City ordinances to facilitate development consistent with the Revised Master Plan. G. Cooperate with the Redeveloper in reasonable and appropriate ways. H. Conduct a comprehensive review of Redeveloper's performance under this Agreement on or before December 1, 1998. I. Assist the Redeveloper in securing approval of a storm water drainage plan. Section 4.1. Contract for Private Redevelopment. Provided that this Agreement is not in default and any time after Authority approval of the Redeveloper's Revised Master Plan, at either Parry's request, the Parties shall negotiate in good faith and execute the Redevelopment Contract within forty-five (45) days after the request. The Redevelopment Contract shall address the issues involving the development of the Redevelopment Property including the following: A. The Purchase Price B. Timing of the Minimum Improvements C. Composition of the Minimum Improvements D. Timing of any site improvements or public improvements E. Redeveloper guarantees F. Duration G. Application of Purchase Price Payments to structured parking Section 5.1. Termination. This Agreement shall terminate as follows: A. On December 31, 1998. However, if both Parties consent it shall be extended for successive 6 month periods. Such consent must be given prior to the expiration of the original period and each renewal period. B. 60 days after the sale, assignment or transfer of a majority of the Redeveloper's assets or its stock. The transferee shall be a permitted assignee of this Agreement upon approval of the Authority, at its sole discretion, after considering, among others, the following criteria: (i) capitalization; (ii) development and leasing personnel; and (iii) assignee's policy for leasing and holding properties. Section 5.2. Effect. The Parties agree that upon termination of this Agreement they shall have no further obligation to each other except as provided for in this Agreement and the Parties further agree to execute any document reasonably necessary to give effect to a termination. Section 6.1. Additional Provisions: A. The Redeveloper shall not assign this Agreement except as provided in Section 5. B. The Redeveloper shall hold the Authority and the City, their agents, officers and employees harmless from any of the Redeveloper's acts or the acts of those operating under its direction with regard to marketing, development, construction, sale and all other activities contemplated by this Agreement. C. The Parties are not partners in the development of the Minimum Improvements or in any activities contemplated by the Agreement. D. If requested by the Authority, the Redeveloper shall provide evidence of a general liability insurance policy in an amount of one million ($1,000,000) per person and two million ($2,000,000) per occurrence naming the City and the Authority as insured parties and which requires a 30 -day written notice of cancellation to the City and the Authority. 7 E. The Authority may negotiate directly with and sell its land to potential user(s) who are on file with the Authority's attorney, as of the date this Agreement is authorized by the Authority, and they shall be excluded from this Agreement. Any excluded party shall not be in the business of developing sites for lease or sale and must conform to the Revised Master Plan, the architectural standards and controls and any agreements between the Redeveloper and the Authority regarding site development issues. IN WITNESS WHEREOF, the Authority has caused this Agreement to be duly executed in its name and behalf and the Redeveloper has caused this Agreement to be duly executed on or as of the date first above written. G: \WPDATA \F \FRIDLEY \14 \DOC \RESTATED CONTRACT.DOC Dated: HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF FRIDLEY, MINNESOTA By Its Chairman And by Its Executive Director STATE OF MINNESOTA ) ) ss COUNTY OF ANOKA ) On this day of , 199_ before me, a notary public within and for Anoka County, personally appeared and to me personally known who by me duly sworn, did say that they are the Chairman and Executive Director of the Housing and Redevelopment Authority in and for the City of Fridley, Minnesota, a political subdivision of the State of Minnesota, and acknowledged the foregoing instrument on behalf of said Authority. Notary Public Authority Signature Page - Restated Contract 4 Dated: MEPC AiItIERICAN PROPERTIES INC. By Its STATE OF ) )ss COUNTY OF ) On this day of , 199_ before me, a notary public within and for County, personally appeared , the , of MEPC American Properties, Inc., a Delaware corporation, and acknowledged the foregoing instrument on behalf of said corporation. Notary Public Redeveloper Signature Page — Restated Contract 10 e s SCHEDULE A LAKE i W Q � J a G W V I � N b a 24.56 8.21 ' ACRES ACRES W 4Q INTERSTATE 8Wy 6 ��Q o� SCHEDULE B FRIDLEY MARKETING PROGRAM Press Release: Signage: Flyer Created and Mailed Users & Brokers: Revised Master Plan Review: Press Release: Direct Mail Piece to Brokers: Broker Event on Site: Quarterly Updates: Upon execution of the Agreement Maintain signage showing Redeveloper as contact Throughout 1998 Redeveloper will present the preliminary Revised Master Plan to the City and Authority for Authority response and review by April 15, 1998, the Authority shall review and or approve or modify the preliminary Revised Master Plan by May 15, 1998 As needed. 1998 1998 Redeveloper will provide updates to the Brokerage community on a quarterly basis. This development project will be in the annual Redeveloper vacancy update Redeveloper would meet with the Authority quarterly to provide project updates MEMORANDUM HOUSING REDEVELOPMENT AUTHORITY DATE: December 18, 1997 TO: William Bums, Executive Director of HRA 4 Arl, FROM: Barbara Dacy, Community Development Director SUBJECT: Consider Resolution Approving Final Plans for TH 65 /Central Avenue/ Lake Pointe Drive Intersection On January 11, 1996, the HRA authorized the City to make application for ISTEA funds on its behalf in order to provide funding for the TH 65 /Central Avenue /Lake Pointe Drive intersection. The city was subsequently successful in obtaining the funds, and the HRA agreed to provide the City's share of the 20% match ($380,000). The total project cost at that time was $1,900,000. On March 13, 1997, the HRA approved a contract with SEH to prepare the final plans and specifications for the project. SEH has completed that process and is initiating the process to obtain the appropriate City and state approvals. MnDOT has expanded the project to add improvements to the 1 -694 interchange by proposing to add traffic signals on TH 65 for the westbound ramps coming from westbound 1 -694 and eastbound ramps from 1 -694. The ramps in the northwest and southeast comers of the interchange will be removed. The project cost now for the entire improvement has reached $4,000,000. The State has agreed to provide the funding above $1,900,000. Final Plans: The proposed final plans are consistent with the designs that have been reviewed by the City over the last 12 -18 months. An informational hearing was conducted by the City in February 1997 (City staff is following through with some of the resident concerns 7 i Consider Resolution Approving Final Plans for TH 65/ Central Avenue /Lake Pointe Drive Intersection December 18, 1997 Page 2 regarding the intersection improvement on the east side of the intersection). To summarize, the plans propose the following improvements: 1. Lake Pointe Drive is proposed to be realigned such that it intersects TH 65 at a better angle. West Moore Lake Drive will "T" into the realigned Lake Pointe Drive, and there will be a stop sign at the intersection of West Moore Lake Drive and Lake Pointe Drive. 2. There will be two left turn lanes from TH 65 to Lake Pointe Drive. 3. There will be a right turn lane from southbound TH 65 to Lake Pointe Drive 4. Two more signals will be installed on TH 65 to control traffic from the westbound and eastbound off ramps from 1 -694 (similar to the recent University Avenue improvements). As stated earlier, the northwest and southeast ramp loops will be removed. The City Council will be acting on approving the final plans and specifications at its January 26, 1998, meeting. If approved, the project will be awarded in early April for a late April /early May construction start. Construction will continue through November. Traffic into Lake Point Drive will be rerouted for the entire construction timeframe. SEH Contract: The original final design contract with SEH was approximately $200,000. Because of the additional changes proposed by MnDOT, SEH is estimating additional design fees of $300,000. John Flora, Public Works Director, is requesting that MnDOT pay for the extra design fees. If MnDOT refuses to pay for the additional fees, a source of funding from the City or the HRA must be found. At this time, SEH has fully expended the $200,000 of the design fee contract. The HRA match is $380,000. It was the City's intent that if the HRA paid for the design fees, this would go toward the 20% required match. An amended agreement from SEH will be necessary anyway to authorize payment beyond $200,000. Approximately $180,000 has been proposed in the 1998 HRA budget. An update on this issue will be provided at the meeting. 7 -A L a Consider Resolution Approving Final Plans for TH 65/ Central Avenue/Lake Pointe Drive Intersection December 18, 1997 Page 3 Staff recommends that the HRA approve the attached resolution approving the final plans for the TH 65 /Central Avenue /Lake Pointe Drive intersection. BD:Is M -97 -516 7 -B RESOLUTION NO. HRA -1998 A RESOLUTION RECEIVING AND APPROVING THE FINAL PLANS AND SPECIFICATIONS FOR THE TH 65 /CENTRAL AVENUE/ LAKE POINTE DRIVE INTERSECTION IMPROVEMENT WHEREAS, on January 11, 1996, the Fridley Housing and Redevelopment Authority (HRA) authorized the City of Fridley to file an ISTEA (Intermodal Surface Transportation and Efficiency Act) application; and WHEREAS, on January 11, 1996, the Fridley HRA also requested the City to act on behalf of the HRA to complete the intersection improvement project; and WHEREAS, on March 14, 1997, the Fridley HRA approved a contract with Short- Elliott- Hendrickson to complete the final design and specifications for the project; and WHEREAS, the final plans and specifications have been received in the office of the City of Fridley's Public Works Department; and WHEREAS, the proposed plans are consistent with the preliminary design plans prepared by Short- Elliott- Hendrickson; NOW, THEREFORE, BE IT RESOLVED that the Fridley Housing and Redevelopment Authority recommends to the Fridley City Council to approve the final plans and specifications and that the Fridley City Council proceed with the project in accordance with its procedures for public improvement projects. PASSED AND ADOPTED BY THE FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF FRIDLEY THIS 8' DAY OF JANUARY 1998. LAWRENCE R. COMMERS - CHAIRPERSON WILLIAM W. BURNS, EXECUTIVE DIRECTOR 7 -C 3 AV AMW MEMORANDUM ❑ ST. PAUL, MN ❑ MINNEAPOLIS, MN ❑ ST. CLOUD, MN ❑ CHIPPEWA FALLS, WI ❑ MADISON, WI ❑ LAKE COUNTY, IN TO: Barbara Dacy /City of Fridley HRA FROM: Susan M. Mason DATE: December 4, 1997 RE: TH 65 - 53rd to Lake Pointe Drive The information on the copied pages from the Project Memorandum has not changed. The work that has changed includes the following: MN/DOT made the determination in the summer of 1997, due to the age and the condition of the existing pavement, to totally reconstruct the segment of TH 65 from 53rd Avenue to end of the original project, north of Lake Pointe Drive. Because of the pavement replacement of the mainline lanes, some storm sewer is also being replaced. Two lanes of traffic on TH 65 will be maintained during construction. Central Avenue is proposed to be detoured to Mississippi Street for the majority of the construction season with access to the local business and residents maintained at all times. Lake Pointe Drive will be closed, but access is available to the residential properties from other local streets. The existing trail adjacent to Central Avenue is required to be reconstructed and a retaining wall built on the lake side to accommodate the widening. The trail and retaining wall is needed to limit the impact to the drives and existing retaining walls located on the residential properties on the south side of Central Avenue. Because of the Federal Funding and review process, the City needs to pass a resolution to allow the City HRA property adjacent to Lake Pointe Drive and City park property in Moore Lake that is being impacted by the new street alignment and/or by temporary construction slopes to be "designated for roadway purposes" as shown in the attached drawings. The property needed to dedicated as permanent right of way can be platted at a later time. enclosed: pages from the Project Memo 7 -D I. OPENING STATEMENT This Project Memorandum (PM) has been prepared and submitted in accordance with the approved Highway Project Development Process (HPDP). H. HIGHWAY SECTION LOCATION AND DESCRIPTION Project Location The proposed_project is located in Anoka County within the City of Fridley (see Figure 1). It is a fully developed suburban area that is approximately 8 km (5 miles) from downtown Minneapolis. The project termini extend from the south ramps of the TH 65/I -694 interchange to 250 m (820 ft) north of the West Moore Lake Drive intersection. The total length of the project is 1050 m (3445 ft). See Figure 2 for the project location. Existing Condition TH 65 is a Principal Arterial and part of the metropolitan highway system. It is a four -lane median divided expressway with turn lanes and signals at 53rd Avenue and at West Moore Lake Drive. The interchange at I-694 is a full cloverleaf design. Beginning at West Moore Lake Drive, TH 65 was built on a causeway across Moore lake, dividing the lake into two basins. Central Avenue is Anoka County State Aid Highway 35. Lake Pointe Drive is a City of Fridley street. Both of these roadways are Urban Collector roadways. M. Proposed Improvement Description of Proposed Project This project will remove the loops in the northeast and southwest quadrants of the I-694 interchange. Those traffic moves will be replaced with the addition of at -grade intersections with signals at the I-694 off ramps (see layout in appendix A). The off ramp in the northeast quadrant will be widened and will have two right -turn lanes and two left -turn lanes. The off ramp in the southwest quadrant will be widened and have two left -turn lanes and a right -turn lane. The northwest on -ramp will be reconstructed for an HOV bypass lane for busses and car pools. Along TH 65 an auxiliary lane will be added in both directions between the South ramps and West Moore Lake Drive (to be redesignated Lake Pointe Drive). At Lake Pointe Drive a double left turn lane will be provided for northbound to westbound. North of Lake Pointe Drive a right turn lane-will be developed for southbound TH 65 to westbound I -694. Signal interconnect will be provided between 53rd Avenue and Lake Pointe Drive to connect Mn/DOT's TH 65 signal interconnect system. The Lake Pointe Drive approach to TH 65 will be realigned to improve sight distance and the channelization and turn lanes will be lengthened to accommodate current and projected traffic. The existing bike trail along the south side of Lake Pointe Drive will be extended and cross TH 65 and tie into a proposed trail along the North side of Central Avenue. An additional trail will be constructed along the north side of Lake Pointe Drive from West Moore Lake Drive to TH 65. All trail construction will be 2.4 m (8 ft) wide to match the existing City of Fridley S.P. 127- 010 -13, P.3 7-E ,4 r A capacity analysis has been completed as required by the FHWA interchange modification process. The analysis was performed along TH 65 for the exit ramps and the Lake Pointe Drive intersection. This included reviewing the queuing lengths on the ramps that will result from the new signalized intersections. The analysis was performed for both 1998 day of opening volumes and year 2018 foxecast traffic. The results of the analysis indicate that adequate storage exists on the ramps for the 20 -year forecast traffic, and also that a level of service D or better can be obtained along TH 65 at the ramp terminals and the Lake Pointe Drive intersection. The results of this analysis are included in Appendix C. V. ALTERNATIVES Do Nothing: Doing nothing will perpetuate the existing problems that have been ongoing for the last several years in the project area TH 65 is operating at an unacceptable level of service. The available capacity is exceeded several hours of the day. With the existing high traffic volumes on TH 65, the high speed off ramp from I -694 to northbound TH 65 has resulted in a high number of accidents at the Lake Pointe Drive intersection. During the 3 -year period 1992 - 1994,123 accidents occurred. No incentive exists for bus riders or car pools. Bicyclists and pedestrians are faced with trail segments that are not continuous. Location Alternatives: Because the problem with TH 65 and I-694 is localized to this area, no other feasible alternatives exist for relocating the roadway improvements. Construction Alternatives: Mn/DO1 and the City of Fridley considered a number of other alternatives for the improvements to TH 65. However, none of the other alternatives provided similar benefits to traffic operations and accident reduction. VI. PUBLIC AND AGENCY INVOLVEMENT A number of staff level meetings have occurred between the City of Fridley, Mn/DOT and Anoka County. All three agencies are in concurrence with this project As indicated in Section VII of this report, several resource agencies were also contacted to evaluate the effect of this project on the environment. In the appendix are copies of the correspondence from these agencies. In addition to the above involvement the following public meetings were held to discuss this project: • February 5, 1997 - City of Fridley Council Workshop • February 19, 1997 - City of Fridley Planning Commission S.P. 127 - 010 -13, P.5 7 -Fi trail sections. The proposed Central Avenue trail will be constructed by the City of Fridley during the summer of 1997. The Central Avenue approach to TH 65 will be widened to accommodate additional turn lanes. The Frontage Road connection will be closed and will be realigned to tie into Hackmann Avenue. A new connection for Hackmann Avenue with Central Avenue will be constructed approximately 30m (98 ft) east of the existing location. Mn/DOT has requested that this project also solve a maintenance problem being experienced with the ditch along the east side of TH 65 immediately north of Central Avenue. Mn/DOT is exploring the feasibility of replacing the ditch which regularly needs to be cleaned out with a culvert. The project will include this culvert if Mn/DOT determines that it should be constructed. Cost and Funding Source The estimated project cost is $1,900,000. The project received STP funding for fiscal year 1999. The federal (ISTEA) share for this project is $1,520,000. The match of $380,000 will be provided by the City of Fridley, Mn/DOT and Anoka County. The project was awarded fiscal year 1999 construction dollars. However, the project development is being prepared in anticipation of 1997 authorization and 1998 construction. IV. NEED FOR PROJECT The primary need of the project area is due to high traffic volumes on TH 65, the proximity of the I -694 off ramps to Lake Pointe Drive/Central Avenue and 53rd Avenue, the lack of incentives for car pools and busses, and an incomplete bicycle/pedestrian system. Modification of a metro area controlled access freeway interchange requires the approval of the Metropolitan Council in accordance with Minnesota Statute 473.167. Likewise, FHWA approval is required when modifying access to an interstate freeway. The I-694 interchange bridge was recently replaced when I -694 was reconstructed. However, the interchange with TH 65 is an outdated early vintage full- cloverleaf design. The weaving distances along TH 65 are inadequate for the traffic volumes. The accident rates along TH 65 are increasing and reelect the conflicts that are occurring between the high speed exiting traffic from I -694 using the S.W. and N.E. ramps. Justification for this project is based on the overall improvements that will occur to both the interstate freeway and to TH 65. Listed below are the benefits that will occur in conjunction with this project: 1. Weaving conflicts will be reduced on I -694 and on T.H. 65 when the N.W. and S.E. loops are removed, this will improve the operation and capacity of I-694 in the interchange area. 2. Weaving distances along TH 65 will be improved when the N.E. and S.W. ramps are realigned to intersect TH 65 at signalized intersections. 3. Traffic flow along TH 65 will be improved through a new interconnected signal system. 4. Busses and car pools will be encouraged through the addition of an HOV bypass lane along the N.W. ramp. 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