HRA 01/07/1999 - 6305HOUSING & REDEVELOPMENT AUTHORITY MEETING
THURSDAY, JANUARY 7, 1999
7:30 P.M.
PUBLIC COPY
(Please return to Community Development Department)
it
CITY OF FRIDLEY
HOUSING & REDEVELOPMENT AUTHORITY MEETING
THURSDAY, JANUARY 7,1999,7:30 P.M.
AGENDA
LOCATION: City Council Chambers
CALL TO ORDER
ROLL CALL
APPROVAL OF MINUTES
December 3, 1998
CONSENT AGENDA
Consider Change to Loan Subordination Policy .......................... 1
Amend Professional Service Agreement for Regional
Remodeling Handbook, Gerloff Residential Architects, Inc ................. 2
Claims and Expenses ............. ............................... 3
ACTION ITEMS:
Consider TIF Assistance for Murphy Warehouse & Onan .................. 4
INFORMATION ITEMS:
Update on Housing Program Evaluation Report ........................ 5
Medtronic Update ................. ............................... 6
Update on Design and Development Issues
for Scattered Site Program .......... ............................... 7
OTHER BUSINESS
ADJOURNMENT
CITY OF FRIDLEY
HOUSING & REDEVELOPMENT AUTHORITY MEETING
DECEMBER 3,1998
Chairperson Commers called the December 3, 1998, Housing and Redevelopment
Authority meeting to order at 7:30 p.m.
ROLL CALL:
Members Present: Larry Commers, Virginia Schnabel, John Meyer, Jim McFarland
Members Absent: Pat Gabel
Others Present: Barb Dacy, Community Development Director
Grant Femelius, Housing Coordinator
Bill Bums, City Manager
Jim Casserly, Financial Consultant
Rick Pribyl, Finance Director
Craig Ellestad, Accountant
Ben Martig, Housing /Special Projects Intern
APPROVAL OF OCTOBER 1 1998 HOUSING AND REDEVELOPMENT AUTHORITY
MEETING MINUTES:
MOTION by Mr. Meyer, seconded by Mr. McFarland, to approve the October 1, 1998,
Housing and Redevelopment Authority minutes as presented in writing.
UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED
THE MOTION CARRIED UNANIMOUSLY.
CONSENT AGENDA:
• -
IT
2. CONSIDER SERVICE AGREEMENTS WITH THE CENTER ENERGY &
ENVIRONMENT (CEE) FOR THE ADMINISTRATION OF THE HOME
REHABILITATION GRANT PROGRAM
HOUSING & REDEVELOPMENT AUTHORITY, DECEMBER 3,1998 PAGE 2
4. AUTHORIZE PROPOSALS FOR PROFESSIONALSERVICES -TO ASSIST HRA
WITH AUAR AND ISP APPLICATIONS FOR MEDTRONIC DEVELOPMENT.
5. APPROVE RESOLUTION AUTHORIZING PAY INCREASES FOR HRA
EMPLOYEES.
6. APPROVE RESOLUTION AUTHORIZING EXTENSION OF DEVELOPMENT
CONTRACT FOR NOAH'S ARK,
7. CLAIMS AND EXPENSES (October and November)
Mr. Commers asked that Item 7 (Claims and Expenses) be removed from the Consent
Agenda for further discussion.
MOTION by Mr. Meyer, seconded by Ms. Schnabel, to approve the Consent Agenda,
AS AMENDED (Item 7 removed).
UPON A VOICE VOTE, ALL MEMBERS VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY.
Mr. Commers stated at the last HRA meeting he had asked for a breakdown of
personnel expenses. He asked if staff had had the opportunity to do so.
Mr. Ellestad provided information in regard to the Administrative Personal Services,
noting that this amount is increased annually, based on the COLA that is awarded. The
Administrative Overhead Expense is for office space allocation for HRA employees and
the Computer Overhead is for HRA computer programs.
Mr. Commers asked what the G.O. Temp II bonds were. Mr. Ellestad explained that
G.O. refers to General Obligation, which must be issued by the City. The City pays the
principle and interest expenses, and the HRA reimburses the City for those expenses.
This will be the last payment on the bonds. The new bonds were issued as of
November 1 or December 1.
Mr. Commers noted that a list of five additional expenses requiring HRA approval was
distributed.
Ms. Schnabel, referring to the Administrative Personal Services, wondered if a new
study should be conducted, considering that the study is five years old.
Mr. Bums stated staff would be happy to do so.
HOUSING & REDEVELOPMENT AUTHORITY, DECEMBER 3,1998 PAGE 3
MOTION by Ms. Schnabel, seconded by Mr. Meyer, to approve the Claims and
Expenses for October and November 1998.
UPON A VOICE VOTE, ALL MEMBERS VOTINGAYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY.
INFORMATIONAL ITEMS:
8. UPDATE ON HOUSING PROGRAM EAVLUATION INTERNSHIP PROJECT
Mr. Femelius stated in September of 1998, the HRA hired Intern Ben Martig through - -the
University of Minnesota. One of the duties that assigned to Mr. Martig is to complete
an in -depth analysis of the HRNs rehab programs. In particular, staff would like to
determine the effectiveness of those programs on improving the housing stock in
Fridley. Additionally, he will try to determine who is using the rehab programs in terms
of demographic profile — the incomes, household composition, length of residence, etc.
This will give the HRA a picture of which the typical borrower is.
Mr. Femelius stated Mr. Martig will also be looking at some of the eligibility
requirements. Typically, the HRA programs have assisted borrowers who generally
would be classified as "middle income borrowers ". Staff would like to see if any
adjustments in income requirements need to be made.
Mr. Femelius stated that, additionally, Mr. Martig will be looking at some of the broader
implications of the programs in terms of how they are affecting the city overall —
property values, appearance of neighborhoods, etc. Comparisons will be made to
other first -ring suburbs to determine whether Fridley is providing assistance similar in
nature to other cities, etc.
Mr. Femelius reviewed some of the activities which Mr. Martig has accomplished to
date. Future activities include surveying loan and grant recipients who have been
assisted through the HRA programs. A more in -depth survey and evaluation will be
completed of the Hyde Park neighborhood to see how the HRA can boost activity in
that area. He stated staff hopes to be able to give the HRA a formal presentation of the
findings at the HRA meeting in February.
Mr. Meyer stated it appears to be a very comprehensive survey and that it will be
interesting to review the results of the studies.
Mr. Commers asked what the Old House Special Property Tax Deferment Program is.
Mr. Femelius stated he believes this was a law created in 1995 by the legislature which
allows property owners of homes over 35 years old to defer a portion of the increased
value due to improvements made to the property. This encourages property owners to
rehab their properties without resulting in an increase in taxes. The program has been
HOUSING & REDEVELOPMENT AUTHORITY, DECEMBER 3, 1998 PAGE 4
in place for several years and the HRA would like to determine how many residents
have taken advantage of the program. Additionally, they would like to see if there is a
way of promoting the program better.
Mr. Commers stated he wondered how many residents were aware of the program. He
stated he had never heard of it.
Ms. Schnabel asked how great a percentage of Fridley's housing stock would fall into
the home age category required to be eligible for the program.
Mr. Fernelius stated that a large percentage of homes would qualify. Many homes in
Fridley were built prior to 1970.
Mr. Commers asked staff to provide the Board members with additional information on
this program with some examples of how it works.
9. MEDTRONIC UPDATE:
Ms. Dacy stated that staff has heard from the legal counsel for Medtronic. They will be
returning a "black line draft" to the HRA by the end of next week. Staff was unable to
meet with Medtronic prior to the HRA meeting as originally hoped. She noted that she
has been meeting with Metropolitan Council, the MPCA, and Medtronics' consultant in
preparation of the environmental review documents which will need to be completed in
order for the project to proceed. She expects to have a draft of the AUAR by December
8. In January, she expects that Medtronic will be preparing for the plat and the land
use applications.
Mr. Commers asked if the intersection has been completed.
Ms. Dacy stated the road construction will stop soon due to weather limitations. It will
start again in the spring, with an estimated completion date of July 1, 1999. She
stated she believes additional work is needed on the east side of Central Avenue.
Mr. Commers asked about landscaping around the intersection once it has been
completed.
Ms. Dacy stated the scope of the project includes some proposed landscaping on the
East side, adjacent to some of the residential homes that were affected by the
realignment of the Central Avenue connection. On the west side, however, she does
not believe there was any proposed landscaping in the intersection area. Any
disturbed areas will need to be graded and sodded as deemed appropriate.
Mr. Commers asked if Ms. Dacy would check to see if any landscaping has been
proposed on the south side of the freeway between the frontage road and Central
Avenue in front of Menards.
HOUSING & REDEVELOPMENT AUTHORITY, DECEMBER 3, 1998 PAGE 5
Mr. Commers asked if any timetable has been established to get the documents
finalized for this project.
Mr. Casserly stated that this has become a rather complicated document. Medtronic
has informed staff that they will do their best to get it finalized as soon as possible. As
soon as they get something back from Medtronic, they will respond.
10. REQUEST FOR TIE ASSISTANCE BY ONAN & MURPHY WAREHOUSE.
Ms. Dacy stated no action is requested of the HRA on this issue at this time; however,
she expects that staff will be coming back in January or February for some type- of
action. She noted that Onan is considering selling 26 acres of its campus to Murphy
Warehouse who will build a 400,000 square foot facility. Onan would then lease
approximately 60% of the building for some of its suppliers, which presents an
operational advantage to Onan. At the present time, Onan rents space from Murphy in
their warehouses on Main Street. Having an on -site warehouse, therefore, would
provide savings to Onan. As a result of the proposed project, they feel it will create
approximately 100 jobs.
Ms. Dacy provided a history of the site, noting that this is a very good example of what
the Metropolitan Council has been attempting to do in returning brownfield land to the
tax rolls and trying to make it a productive piece of property. Funds will be needed,
however to clean-up the problem and address some of the public improvements, which
will, need to be made. Onan has hired a consultant and they have made an application
to the Metropolitan Council for funds to clean up some of the problems.
Ms. Dacy noted that this project would be a tremendous advantage to the City. The
value of the property would increase significantly and new jobs would be created within
the City.
Mr. Commers stated it would be helpful to know the overall tax benefits of this project
to all of the available entities that would share in the taxes.
Mr. Casserly noted page 10J of the Agenda, which provided a breakdown of the various
costs relating specifically to the site as well as various sources of revenue. The HRA is
not being asked to subsidize the actual cost of the property, but rather to help with the
redevelopment and the pollution costs. The site is worth roughly $1.4 million.
Mr. Commers stated this has been a problem property, which has been difficult to
develop.
Ms. Dacy stated she expects to discuss a number of issues with Onan at the meeting
scheduled for Monday, December 8: She will report back.
HOUSING & REDEVELOPMENT AUTHORITY, DECEMBER 3,1998 PAGE 6
. • ` • . r • i .. .
Mr. Commers noted that a copy of the contract with Innovative Irrigation for Lake Pointe
property for 1999 was provided to the HRA.. He noted that there would be deductions
in price based upon a percentage of acreage; and if the City is successful and the
Medtronic project proceeds next summer, there will be a reduction in costs.
MOTION by Ms. Schnabel, seconded by Mr. Meyer, to approve the Maintenance
Agreement for Innovative Irrigation of the Lake Pointe property as presented.
UPON A VOICE VOTE, ALL MEMBERS VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY.
ADJOURNMENT:
MOTION by Ms. Schnabel, seconded by Mr. Meyer, to adjourn the meeting.
UPON A VOICE VOTE, ALL MEMBERS VOTING AYE, CHAIRPERSON COMMERS
DECLARED THE MOTION CARRIED UNANIMOUSLY AND THE MEETING WAS
OFFICIALLY ADJOURNED AT 8:25 P.M.
Respectfully submitted,
Tamara D. Saefke
Recording Secretary
10I MMIL � 01 03
HOUSING
:►1
REDEVELOPMENT
DATE: December 28, 1998
AUTHORITY
TO: William W. Bums, Executive Director of HRA 4'I'II-4t,
FROM: Barbara Dacy, Community Development Director
Grant Femelius, Housing Coordinator
SUBJECT: Consider Change to Loan Subordination Policy
At the November 13, 1997 meeting, the HRA established a policy for
subordinating its home improvements loans. These types of requests are
typically made by lenders who are in the process of refinancing a mortgage and
need to ensure that their loan is in first position.
Since adopting the policy last year, a number of requests have been received.
From an administrative standpoint there is a significant amount of time required
to process an agreement, including reviewing the property appraisal, good faith
estimate and title work. A determination must also be made that the borrower is
current on their loan payments and that ultimately the HRA's lien is in no worse
of a security position.
CEE is responsible for processing these requests and sending the completed file
to HRA staff for review. If acceptable, CEE then prepares the necessary
agreement and forwards it to the HRA for signature.
CEE is requesting a $75.00 fee from the borrower to process the subordination
request. The fee would be used to cover CEE's time and would be non-
refundable. This practice is consistent with what CEE charges the Minneapolis
Community Development Agency and Department of Public Service on their
loans.
Recommendation
Staff recommends that the Authority approve the attached resolution modifying
the loan subordination policy to allow for a $75.00 processing fee on all
subordination requests.
M -98 -246
1
MEMORANDUM
HOUSING
REDEVELOPMENT
AUTHORITY
DATE: December 23, 1998
TO: William Bums, Executive Director of HRA
OII
FROM: Barbara Dacy, Community Development Director
SUBJECT: Addendum to Professional Services Agreement for the Regional
Remodeling Planbook, Robert Gerloff Residential Architects
Background
On February 5, 1998, the HRA approved the Professional Service Agreement with
Robert Gedoff Residential Architects in order to produce a draft of a remodeling
planbook entitled: Cage Cods and Ramblers: A Remodeling Planbook for Post -World
War II Houses. The HRA entered into this agreement at the same time as entering into
agreements with 14 other cities to cost share in the design and production of the
Planbook.
A draft of the Planbook will be available at Thursday's meeting. The Planbook will be
published in mid - January 1999 and will be available for distribution at the Remodeling
Fairs of the participating cities. A press release will be issued to the Star & Tribune and
local newspapers, and a press conference will be conducted in early February.
••• -• `••- • 11
The attached addendum amends the Professional Service Agreement for the architect
to prepare an additional set of plans, elevations, and other drawings to portray a
second story on a detached rambler. The additional cost is $2,200. There is no cost to
the Fridley HRA. Each of the 14 cities have contributed $5,000 toward the consultant
contract for a total of $70,000. The original contract amount was $60,000. The
additional cost, therefore, is covered by funds received from the other cities.
In order to publish the planbook, the cities have raised funds from other organizations
which would pay for this additional cost. Approximately $20,300 has been raised to
2
Addendum
December 23, 1998
Page 2
date, and an additional $8,000- 10,000 may be received in the near future. Publishing
costs will probably be about $25,000.
Planbook Content
The Planbook will be 11 x 17 inches in size with a spiral binding. The back cover will
contain a pocket for each city to insert its specialized information about housing
programs or about the city in general.
The appearance, font, and graphics of the book will mimic the style of the 50s and 60s.
A brief description of housing construction in this era will act as the introduction to the
book.
The Planbook then describes the three families who volunteered to be case studies.
Each family's housing needs are discussed, and then plans are shown to accommodate
those needs and expand each house. A cape cod house, a rambler with a detached
garage, and a rambler with an attached garage are featured.
Recommendation
Staff recommends that the HRA authorize the Chairperson and Executive Director to
execute Addendum #1 to the Professional Service Agreement as presented.
BD:Is
M -98 -245
z -A
1.
01014 now** */01# cb "aotsi aad Ebot�
December 15 1998
Barbara Dacy
Community Development Director
6431 University Avenue NE
Fridley, Minnesota 55432
Dear Barbara Dacy:
This is Addendum #1 to the Professional Service Agreement for the Regional Remodeling
Planbook extending the original Scope of Services agreement to include the following:
Adding an additional design to house type #2, including plans, elevations and other drawings to
communicate the design intent as well as a watercolor.
Fees for the additional service are to be $2,200. This additional amount is to be added to
the invoice for the Benchmark #4 payment.
Sincerely,
1 � .
Robert Gerloff, AIA
V2 - %5.1,--%b
date:
William W. Burns, Executive Director Fridley HRA date:
Lawrence R. Commers, Chairperson Fridley HRA
date:
4007 SNERMN AVENUE SOUTH MINNEAPOLIS, MINNESOTA 65410 VOICE: 612/927.5913 FAX: 612/927.7301 E- 1111.: CILL
TO: FRIDLEY H.R.A
FROM: CITY OF FRIDLEY
RE: BILLING FOR ADMINISTRATIVE AND OPERATING EXPENSES
DECEMBER 1998
(13th Month)
BENEFITS EXPENSES:
CITY OF FRIDLEY - HEALTH INS
CITY OF FRIDLEY - DENTAL INS
CITY OF FRIDLEY - LIFE INS
262- 0000 - 219 -1001 207.62 236 - 0000 - 219 -1001 11
262- 0000 - 219 -1100 22.53 236- 0000 - 219 -1100 12
262 - 0000 - 219 -1200 3.50 236- 0000 -219 -1200 13
TOTAL BENEFITS EXPENSES:
TOTAL EXPENDITURES - DECEMBER 1998
File: \EXDATA\HRA \TIFl98BILL.xis Details
3
233.65
Account #'s for
Account #'s for
CR
HRA's Use
City's Use
Code
ADMINISTRATIVE BILLING:
ADMINISTRATIVE PERSONAL SERVICES
21,006.58
101 - 0000 - 341 -1200
H1
ADMINISTRATIVE OVERHEAD
292.58
101 - 0000 - 336 -3000
HA
COMPUTER OVERHEAD
212.42
101- 0000 - 336 -3000
HA
(For Micro & Mini computers)
TOTAL ADMINISTRATIVE BILLING:
100- 0000 - 430 -4107
21,511.58
OPERATING EXPENSES:
US WEST - TELEPHONE
100 - 0000 - 430 -4332
26.09
236 - 0000 - 336 -3000
HA
CITY - INS ALLOCATION
100 - 0000 - 430 -4336
991.00
236 - 0000 - 336 -3000
HA
236 - 0000 - 336 -3000
HA
236- 0000 - 336 -3000
HA
236- 0000 - 336 -3000
HA
TOTAL OPERATING EXPENSES:
1,017.09
BENEFITS EXPENSES:
CITY OF FRIDLEY - HEALTH INS
CITY OF FRIDLEY - DENTAL INS
CITY OF FRIDLEY - LIFE INS
262- 0000 - 219 -1001 207.62 236 - 0000 - 219 -1001 11
262- 0000 - 219 -1100 22.53 236- 0000 - 219 -1100 12
262 - 0000 - 219 -1200 3.50 236- 0000 -219 -1200 13
TOTAL BENEFITS EXPENSES:
TOTAL EXPENDITURES - DECEMBER 1998
File: \EXDATA\HRA \TIFl98BILL.xis Details
3
233.65
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5
DATE: 'December 23, 1998
HOUSING
REDEVELOPMENT
AUTHORITY
TO: William Bums, Executive Director of HRA 41 ��
1
FROM: Barbara Dacy, Community Development Director
SUBJECT: Request for Tax Increment Financing Assistance,
Murphy Warehouse and Onan Corporation
Background
At the December 7, 1998, meeting, the HRA received preliminary information regarding
a tax increment financing request from Murphy Warehouse and Onan to assist them
with pollution clean -up and infrastructure costs at the Onan campus on Central Avenue.
Since the December meeting, staff has met with the developer, and the developer has
submitted the HRA's tax increment financing application and has made the required
deposit. The requested amount of assistance equals $1,290,875 for infrastructure and
site preparation expenses.
-..l_
The developer reports that the grant applications scored well with DTED and Met
Council; however, because state statutes require DTED to fund a certain amount of its
allocation for out -state projects, the Onan application did not receive any funds from
DTED. Met Council did agree to award the requested $154,658, but this amount is not
enough to pay for the needed clean -up ($956,140).
The good news is that Met Council and DTED staff strongly recommended that the City
and developer reapply for the next funding cycle in May 1999. If the application is
unsuccessful at that time, another cycle is available in November 1999 (Met Council
and DTED staff advised that some cities do continue to reapply until the project is
funded).
r!
Murphy Warehouse & Onan Corporation
December 23, 1998
Page 2
Because Murphy Warehouse has timing constraints as a result of leases in existing
facilities, it is not possible to postpone initiation of development until after the next
funding cycle (see attached letter from Murphy Warehouse dated December 21, 1998).
The concept now being discussed with the developer proposes that the HRA would
provide approximately $871,673 to the developer in March 1999 so that the site work
and "environmental clean -up could begin ($956,140 minus the local match to be paid by
developer of $84,377 = $871,763). The City and developer would also make
application once again to DTED and Met Council for the May 1999 cycle. When funded
in June 1999, the HRA would retain the state and regional funds as its reimbursement.
The tax increment financing assistance issue still remains. The developer advises that
the pay -as- you -go approach (or revenue note) for 100% of the requested assistance
would be problematic because of the long term of the note (approximately 17 years).
Therefore, it is proposed that a grant of approximately $435,881 would be deducted
from the $1,200,000 note, leaving a balance of approximately $764,119. The term of
the note would then be reduced to approximately 9Y2 years.
If state funding is not received, the HRA will need to decide if it wants to provide
assistance of approximately $2 million. The total project cost is $13,586,015. The
pollution clean -up costs and infrastructure costs represent $2 million of the total costs.
A majority of these costs would not exist if the development were to occur on a typical
vacant parcel.
Taxes to Other Jurisdictions
At the December meeting, the Chairperson inquired about what other jurisdictions
would receive as a result of the construction of the project. Unlike other older districts,
taxing jurisdictions would receive tax payments beginning in the year 2001. The school
district would receive approximately $83,000 per year, the County would receive
approximately $45,000 per year, and the City would receive approximately $25,000 per
year. Currently, the parcel is not producing any tax increment.
._: • • �_1:��•Si1
An update about the developer's response to staff's proposal will be given at
Thursday's meeting. There are significant benefits to assisting their project with or
without state and regional assistance:
4 -A
Murphy Warehouse, & Onan Corporation
December 23, 1998
Page 3
• Returns an unusable parcel to the tax rolls contributing taxes to all jurisdictions.
• Creates 100 new jobs.
• Cleans polluted land.
• Provides public infrastructure for`mord"development on the Onan campus and,
therefore, more tax dollars.
• Provides an operating advantage to an important existing business.
• Provides additional warehouse space for existing Fridley businesses.
• Increment is generated in the district to accomplish other redevelopment
objectives.
BD:Is
M -98 -258
701 24th Avenue S.E.
Minneapolis, Minnesota 55414
December 21, 1998
Ms. Barbara Dacy
Community Development Director
City of Fridley
Municipal Center
6431 University Avenue NE
Fridley, MN 55432
WAREHOUSE Phone: 612- 623 -1200
Fax: 612- 623 -9108
COMPANY
Email: sales@murphywarehouse.com
Website: www.murphywarehouse.com
RE: TIF Application for Former Boise/Onan/Medtronic Site
Dear Barb:
We are excited to be submitting this application to the City of Fridley for clean-up funding. The
redevelopment of the Boise /Onan/Medtronic property represents an exciting possibility that will
benefit all the stakeholders involved. At this point, the only impediment to the project moving ahead
is funding for the extraordinary environmental, geo- technical and infrastructure costs necessary to
prepare the site for development.
As we discussed in our meeting on December 7, 1998, we were unsuccessful in two applications for
grant funds. The grant applications totaled $980,000 and the funds were to be used to address the
environmental and geo - technical issues on the former Superfund site. The balance of the
extraordinary costs totaled approximately $13MM and such costs were targeted for TIF funding.
The good news is that our grant application scored well enough to receive grant funding; the bad news
is that because of a concern for funding out -state projects, the grant agencies moved our funding to
out -state projects. Both Met Council and DTED have encouraged the project to reapply in May 1999._
Unfortunately, Murphy Warehouse Company cannot afford to wait until the grants are awarded in July
1999 to decide if the project will move forward. There is a very unique set of circumstances that
dictate that this project will only work if it is completed by November 1, 1999.
First, Murphy Warehouse Company currently leases space in several different buildings, and these
leases expire in late 1999 or early 2000. It is the opportunity to consolidate this existing leased space
into a.building owned by the Murphy family and located on the Onan site that makes this project
possible. The new building must be ready for occupancy on November 1, 1999 in order to
accommodate the trans er o pro uc om existing leased space into —We ie new space.
Secondly, Onan Corp. is interested in this project because of the efficiencies created by having an on-
site warehouse. Murphy Warehouse Company is willing to operate the warehouse on behalf of Onan.
Additionally, Murphy Warehouse Company is the only potential owner of the new building willing to
lease 60% of the building to Onan and still allow Onan to "give back" space over the tern of the lease.
Onan does not want to own the building and no other developer would be willing to lease space t
Onan on the terms that provide Onan the flexibility it requires.°'
0
Ms. Barbara Dacy
December 21, 1998
Page 2
Thirdly, in order to meet the November 1, 1999 occupancy date, construction needs to begin no later
than June 1, 1999. As a result of long lead times for steel and pre -cast panels, orders for steel and
panels need to be placed no later than March 1999. Accordingly, Murphy needs to know whether or
not the extraordinary costs are going to be funded in March 1999 before it makes the decision and
significant financial commitment to order building materials.
Additionally, &majority of the environmental and geo- technical work needs to have been completed
prior to June 1, 1999 so that the site is ready for construction. Therefore, these costs need to be funded
and the work completed before the next round of grant funds are awarded.
Lastly, we discussed whether or not the new building could be built on another part of the Onan
property that may be less expensive to prepare for construction. The only way this proposed building
makes sense for Onan is at its current proposed location which provides efficiencies in moving
product back and forth from the plant to the warehouse. Any other location on the Onan property
might as well be off -site. Further, the cost savings from building in another location are not
significant, as the environmental and infrastructure costs are still present.
When we left the December 7 meeting, it seemed that there was the basis for a creative solution that
would allow this exciting project to move forward. A funding package that provided up -front funding
for environmental and geo- technical costs along with a Tax Increment Note for the remaining
infrastructure and geo- technical costs provides Murphy with the certainty that the funding is there for
extraordinary costs allowing permanent financing to be completed. A grant application can still be
made in May 1999. If the grant application is successful, those costs can be funded and some of the
up -front dollars from the City can go to reduce the face value of the TIF Note. This structure would
appear to present a solution that allows the project to continue to move forward.
Funding for these extraordinary costs is critical for the project moving ahead. The rationale for
funding the extraordinary environmental, geotechnical and infrastructure costs is to keep these
brownfields projects on the same financial footing as those on greenfield sites. The attached project
pro forma is based on market rate building costs that generate market rate rental rates. To the extent
that the project also has to absorb extraordinary costs, the project cost and the rental rate move above
market rate rents. In this scenario, the new building can not compete with buildings on greenfield
sites, and Murphy and Onan are better off leasing space in other locations rather than building this new
facility.
What are the benefits for the City of Fridley? Currently, the majority of the over 100 acres of land that
Onan owns is undeveloped and vacant due to perceived as well as practical issues associated with
redeveloping a former Superfund site. The property represents a tremendous opportunity to increase
the City's tax base and provide jobs for its residents.
The proposed $11 million, 400,000 SF building is expected to bring 100 jobs to the site. There will be
a dramatic increase of $400,000 in net tax capacity from the redevelopment of this vacant and
contaminated property. Despite the use of tax increment generated to reimburse the City and Murphy
for eligible costs, the City, County and State will still receive incremental tax revenue from this project
because of state law covering this TIF District.
4 -D
Ms. Barbara Dacy
December 21, 1998
Page Three
The City of Fridley's Comprehensive Plan has identified the redevelopment of the former Onan site as
an industrial use. However, until Real Estate Recycling approached Onan about redeveloping the site,
no one ever thought the property would be anything other than vacant, unused land. Now the only
impediment to redevelopment is funding the extraordinary costs necessary to develop the site.
We are pleased to have the opportunity to work with the City of Fridley, Onan and RER on this unique
opportunity to add -jobs and increase the tax base in Fridley. We feel sure it will be a solid success,
and we hope you will partner with us to make it happen.
Sincerely,
MU WAREHOUSE COMPANY
Richard T. urp V. Sr.
Chairman/CEO
RTM/wp
4 -E
JOB CREATION
The following is a projection of jobs new to the site as a result of the proposed redevelopment.
Onan Employees
The following are new jobs to the redevelopment site. In addition to the jobs located in the new
building, over 1,400 jobs are being retained in the State as the new facility enhances Onan's long term
viability at this site. This is a critical factor that can not be taken lightly as Onan recently shut down a
huge manufacturing facility in Alabama and moved this-pperation to its existing Fridley facility. With
the addition of the new building, the Fridley facility's efficiency will be greatly improved, helping it
maintain its world class competitiveness.
Position Title
Managers
Total Number
of Jobs/FTE
3
Customer Service Reps 5
Material Controllers 4
Logistics Operations
Personnel 80
Murphy Employees
Annual Salary
Per Job
$56,000 per yr. with benefits
$21 per hour with benefits
$56,000 per yr. with benefits
Expected Hiring
Date
$17 - $20 per hr with benefits
Management,
Operations Personnel 4-8 $17 - $22 per hr with benefits
Total Number of
All Jobs Created 100
4 -F
On Site Nov. 1, 1999
On Site Nov 1, 1999
Jan 2000
On Site Nov 1, 1999
On Site Nov 1, 1999
Project Budget for Onan / Murphy Distribution Center
Fridley, MN
I. Cleanup Budget
A. Site Investigation & Remediation Development
Pre - Construction Site Investigation $78,000
Groundwater Modeling $7,000
Work Plan $11,000
Remedial Action Plan $15,500
Total Site Invstgn, RAP Dvlpmnt $111,500
B. RAP Implementation: Cleanup Costs
Soil Impacts
$249,575
(Excavation, Stockpiling, Sampling,
Treatment, Backfill, Compaction)
Groundwater
$177,375
( Dewatering, Constructed Wetland, Well
Abandonment)
City Oversight
$5,000
Documentation / Implementation Report
$12,500
MPCA Oversight
$30,000
Total Implementation:
$474,450
Contingency:
$117,190
Total TBRA and DTED Cleanup Budget $703,140
H. Development / Redevelopment Budget
Soil Correction, Dewatering (DIED P Cost)
Soil Correction (French Drain) (DIED P Cost)
Infrastructure
Roadways
Contingency - Infrastructure 15%
Construction 406,164 SF Building
Total Development Budget
DTED Eligible Project Costs
TOTAL PROJECT BUDGET
M. Proposed Cost Allocation from Public Sources
DIED (75% P Costs)
City
Met Council
Total Grant Funding:
Tax Increment Financing:
Private Investment:
4 -G
$65,000
$155,000
$915,000
$207,500 TIF (See attached breakout)
$168,375
$11,372,000
$12,882,875
$956,140
$13,586,015
$717,105
$84,377
$154,658
$9— 56 U
$1,290,875
$11,456,377
% of Total Project Costs
5.3%
0.6%
1.1%
7.0%
9.5%
84.3%
a�
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a_N
PROJECT SCHEDULE
There are several time critical elements of this project. First, the ultimate owner of the
new building, Murphy Warehouse Co., is losing over 150,000 square feet of space in late
1999 and early 2000 as a result of lease terminations. Murphy can either extend those
leases for 3 to 5 years or move that business to this new facility. In order to meet the
timelines imposed by these lease expirations, Murphy and Onan need to occupy the new
building by November 1, 1999.
Secondly, the November 1, 1999 occupancy deadline means that construction of the new
facility must begin in June 1999. Accordingly, the cleanup work and geotechnical soil
correction must be completed in April and May 1999 to be ready for footings and
foundations to be built.
Finally, the long lead times for steel and precast panels dictates that steel and precast wall
panels for the building be ordered in March 1998 in order to meet the November 1, 1999
occupancy date. This means that Murphy will need to know whether or not the
extraordinary environmental, geotechnical and infrastructure costs will be funded before
Murphy makes the very significant financial commitment to order the steel and precast
panels.
An abbreviated schedule is as follows:
Task
City Approvals
TIF Approval
Order Steel, Precast
Envt'l, Geotechnical Work
Construction Begins
Building Occupancy
44
Date
Feb. 1999
Feb. 1999
Mar. 1999
Apr —May 1999
June 1999
Nov. 1, 1999
MURPHY WAREHOUSE COMPANY
PROFORMA INCOME AND CASH FLOW OF ONAN/MURPHY PROJECT
December 21, 1998
LAND COST @ $3.00 ($1.00 per sq. ft. - 26+ acres) $ 1,218,492
SOFT COSTS @ $2.00 812,328
BUILDING COST a@ $23.00 9,341,180
BUILDING PROJECT TOTAL COST $ 11,372,000
INCOME
RENTAL INCOME - a@ $3.53 per sq. ft. on 406,164 ft
CASH ON CASH INVESTMENT
ANNUAL COST
MORTGAGE DEBT SERVICE
NET CASH FLOW
44
$ 1,433,759
12.61%
$ 1,141,440
$ 292,319
12/18/98 FRI 12:41 FAX 612 885 5969 RR9SS MONROE
KRASS MONROE, P.A.
ATTORNEYS AT LAW
■ James R Cater
EmaBjamese@Jaassmomoe.aom
www.lvassmonmecom
DftO Dial (812) 885-1246
MEMORANDUM
To: City of Fridley
Attn: Barbara Dacy, Community Development Director
Real Estate Recycling
Attn: Paul M. Hyde, Chief Executive Officer
From: James R. Casserly, Esq. �' G
Greg D. Johnson, CPA (7
Date: December 17, 1998
Re: Assistance on Onan Project
Our File No. 9571 -10
At our meeting last week there was extensive discussion regarding assistance for the project if the
DTED grant was not received by the City. Our office agreed to look at various options to allow
the project to proceed. We explained that the ERA would want to recover its additional
contribution if it provided the funds for the cleanup.
The grant request did receive a high priority and could be funded in the 1999 spring cycle.
However, since we are not assured of receiving the grant monies and if the HRA wishes to have
the project proceed, then it is necessary for the HRA to advance the funds. Richard Murphy also
asked at the meeting whether or not the Authority would use half of the grant monies that it might
receive to help prepay the Revenue Note. Attached are cash flows that analyze two possibilities.
The first option is labeled With Grant Money and is contained in pages numbered 1 through 5 (the
handwritten numbers appear in the upper right hand comer). This analysis is similar to the earlier
analyses and assumes the following:
1. The HRA would advance $871,763 for the cleanup and the Redeveloper would
contribute $84, 377 for the cleanup.
SUITE 1100 SOUTHPOINT OFFICE CENTER .1650 WEST 82ND STREET • BLOOMINGTON, MINNESOTA 55431.1447
TELEPHONE 61118855999 • FACSIMILE 6121885 -5969
4 -K
002
. 12/18/98 FRI 12:42 FAX 812 885 5989 BRASS MONROE
2. The Redeveloper would be reimbursed up to $1,200,000 for infrastructure
improvements.
3. In the spring, or possibly the fall of the 1999 cycle, the City would receive the
full amount of the cleanup grant amounting to $871,763.
4. Fifty percent (50%) or $435,881 would be deducted from the $1,200,000
Revenue Note leaving a balance of $764,119. The payments on the Revenue
Note are shown on page 5.
In brief; this option has the Authority advancing the funds needed for the cleanup and the
Redeveloper advancing the funds needed for the infrastructure. If the Authority is reimbursed for
any of the cleanup costs, it will use fifty percent of the reimbursement to prepay the Revenue
Note. With a maximum reimbursement, the Revenue Note is reduced to $764,119 and should be
paid in approximately 9 %: years.
Option II is labeled No Grant Money and is contained in pages 6 through 10. This option
assumes the following:
The Authority will fluid $871,763 of the cleanup with the Redeveloper funding
$84,377 of the cleanup.
2. The Authority will use tax increment to recover the funds it has expended.
Column B on page 8 shows the available tax increment to pay the Revenue
Note and reimburse the Authority. The total revenues available in Column B
are estimated to be $4,214,795.
3. The Revenue Note to the Redeveloper for infiumicture will be $1,200,000.
To pay the Revenue Note, the Authority will pledge, as is shown in Column C
on page 8, 57.92 percent of the tax increment generated Column D on page 8
demonstrates that if that percentage is pledged through 2015, the Redeveloper
can recover the principal of $1,200,000 with interest at 7.5 percent. The
payments on the Revenue Note are shown on page 10.
In short, Option H has the Authority advancing the cleanup fiords and the Redeveloper advancing
the infrastructure funds. There are no grant proceeds so that the Redeveloper will be receiving its
$1,200,000 over the life of the tax increment district which is 17 years.
Both the Authority and the Redeveloper will have to determine if Option II is feasible. Clearly
both parties have additional risk The Authority would provide substantial cash up front in either
option but with Option II it would take the Authority 17 years to recover its contribution. Under
Option Il it would also take the Redeveloper 17 years to recover its contribution.
a Page 2
A-1
lJ 093
12/18/98 FRI 12:42 FAX 812 885 5989 BRASS MONROE 1�jOO4
Tliese two options should represent the best and worst case scenarios. Please note that the
Authority has not reviewed these scenarios and these are for discussion purposes only. Please call
with any questions or observations.
JRCArb
Enclosures
G- W$MTAIRMDLM1000R{pACY HME 2000
0 Page 3
4 -M
12/18/98 FRI 12:42 FAX 812 885 5989 HRASS MONROE (it 005
6.
•
M CITY OF FRIDLEY
--
r, 6.,j `;
6AACJT-
fAaaE
7
T.I.D. #9.ONAN
ASSUMPTIONS
Original Market Value
PIN# 12-41 -0002
1,132,560 sq. ft. @
1.00 /sq. ft.
=
1,132,560.
Original Tax Capacity
3.50%
39,640
Estimated Market Value
10,677,414
Land
1.132,560 sq. ft. @
1.00 /sq. ft.
= 1,132,560
-
Building
406,164 sq. ft. @
23.50 /sq. ft.
= 9,544.854
Estimated Tax Capacity
3.50%
373,709
Estimated Taxes
406,164 sq. ft, @
1.21 /sq. ft
=
491,973
Constniction
1999
Valuation
2000
Taxes Payable
2001
Admin/Program Fees
25.00%
Revenue Note
Proceeds to Developer
764,119
63.68%
Proceeds to City (If city pays redevelopment costs equal to 50% of grant)
435,882
36.32%
Pay 1989 Tax Rate
certified tax rate '
0.97756 '
Pay 1999 Tax Rate - estimate
-
1.31646
Inflation
2002/2003
2.00%
P. V. Rate
12/01/98
for City Obligations /Debt
7.50%
P. V. Rate
12/01/98
for Revenue Note
7.50%
r,
Onan2.WK4 PREPARED BY KRASS MONROE, P.A. 12/17/98
d.N
12/18/98
FRI 12:42 FAX 612
885 5969 RRASS MONROE
CITY OF FRIDLEY
T.I.D. 09.ONAN
CASH FLOW AND PRESENT VALUE ANALYSIS
X1006
(a)
(b)
ANNUAL
(c)
>
(d)
-C
(e)
-- SEMI - ANNUAL ----
--- -- .- ---. -�
��.____>
Original
Estimated
Captured
Estimated
(0
Less:
(9)
Available
(h)
Cumulative
f) G)
:--- Present Value ----
Date
Tax
Capacity
Tax
Capacity
Tax
Capacity
Tax
Increment
Admin
Fees
Tax
Increment
Avail. Tax
Increment
Semi Annual
Balance
->
Cumulative
Balance
(see assumptions)
(c) - (b)
(d) x
(e) x
(e) - (f)
Total of (g)
P.V. of (g)
Total of (i)
(Prev.
year)
0.97756
25.00%
7.50%
06101198
39,640
39,640
0
0
0
0
0
0
12/01/98
39,640
39,640-
0
0
0
0
0
0
06/01/99
39,640
39,640
0
0
0
0
0
0
12101/99
39,640
39,640
0
0
0
0
0
0
06 /01 /00
39,640
373,709
-- 0
0
0
0
0
0
0
12/01/00
39,640
373,709
0
0
0
0
0
0
0
06/01/01
12/01/01
39,640
39,640
373,709
373,709
334,070
334,070
163,287
40,822
122,465
122,465
101,876
101,876
06/01/02
39,640
381,184
334,070
163,287
163,287
40,822
40,822
122,465
122,465
244,930
367,395
98,194
94,644
200,070
294,714
12/01/02
06/01/03
39.640
39,640
381,184
388,807
334,070
341,544
163,287
166,940
40,822
41,735
122,465
489,860
91,224
385,938
12/01/03
39,640
388,807
341,544
166,940
41,735
125,205
125,205
615,065
740,270
89,894
86,644
475,831
562,476
06/01104
12101/04
39,640
39,640
396,584
396,564
349,168
349,168
170,666
170,666
42,667
42,667
128,000
868,270
85.377
647,852
06/01/05
39,640
404,515
.356,944
174,467
43,617
128,000
130,850
996,269
1,127,120
82,291
81,083
730,143
811,226
12/01105
06/01/06
39,640
39,640
404,515
412,605
356,944
364,876
174,467
178,344
43,617
44,586
130,850
133,758
1,257,970
78.152
889,378
12101/06
39,640
412,605
364,876
178,344
44,586
133,758
1,391,728
1.525,486
77,001
74.218
966,360
1,040,598
06/01/07
12/01/07
39,640
39,640
420,858
420,858
372,966
372,966
182,298
182,298
45,575
45.575
136,724
136,724
1,662,209
1,798,933
73.122
1,113,719
06/01/08
39,640
429,275
381,218
186,332
46,583
139,749
1,938,682
70,479
89,434
1,184,198
1,253,632
12/01/08
06/01/09
39,640
39,640
429,275
437,860
381,218
389,635
188,332
190,446
46,583
47,611
139,749
142,834
2,078,431
66,925
1,320,557
12/01/09
39,640
437,860
389,635
190,446
47,611
142,834
2,221,265
2,364,099
65,930
63,547
1,386,487
1,450,034
08/01/10
12101/10
39,640
39,640
446,617
446,617
398,221
398,221
194,642
194,642
48,661
48,661
145,982
145,982
2,510,081
62,600
1,512,633
06/01/11
39,640
455,550
406,978
198,923
49,731
149,192
2,656,063
2,805,255
60,337
59,435
1,572,970
1,632,406
12/01/11
06101/12
39,640
39,640
455,550
464,661
406,978
415,910
198,923
203,289
49,731
50,822
149,192
152,466
2,954,447
57,287
1,689,692
12/01/12
39,640
464,661
415,910
203,289
50,822
152,466
3,106,913
3,259,380
56,428
54,389
1,746,120
1,800,509
06/01/13
12/01113
39,640
39,640
473,954
473,954
425,021
425,021
207,742
207,742
51,935
51,935
155,806
155,806
3,415,186
53,571
1,854,080
06/01/14
39,640
483.433
434,314
212.284
53,071
159,213
3,570,992
3,730,206
51,635
50,857
1,905,715
1,956,571
12/01/14
06/01/15
39,640
39,640
483,433
493,102
434,314
443,793
212,284
216,917
53,071
54,229
159,213
3,889,419
49,018
2,005,590
12/01/15
39,640
493,102
443,793
216,917
54.229
162,688
162,688
4,052,107
4,214,795
48,278
46,533
2.053,868
2,100,401
5.619,726
1,404,932
4,214 795
4,214 795
2.100.401
2.100,401
Onan2.WK4 PREPARED BY KRASS M tOE. P.A. 12/17/98
12/18/98 FRI 12:43 FAX 612 885 5969 BRASS MONROE Q007
CITY OF FRIDLEY
T.I.D. #9 - OMAN
PRESENT VALUE ANALYSIS FOR CITY AND REVENUE NOTE
Date
Available
Tax Increment
(from Cash
Flow Analysis)
Available for
Revenue
Note
(b) x
63.68%
P. V. Rate
Semiannual Cumulative
Balance Balance
P.V. of (c) Total of (d)
7.50°
available for
Authority
(b) - (c)
P. V. Rate
Semiannual Cumulative
Balance Balance
P.V. of (f) Total of (g)
7.50%
Total Total
Semiannual Cumulative
Balance Balance
(d) + (9) (e) + (h)
06/01/98
0
0
0
0
0
0
0
0
0
12101/98
0
0
0
0
0
0
0
0
0
06/01/99
0
0
0
0
0
0
0
0
0
12101/99
0
0
0
0
0
0-
0
0
0
06/01/00
0
0
0
0
0
0
0
0
0
12/01/00
0'
0
0
0
0
0
0
0
0
06/01/01
122,465
77,981
64,871
64,871
44,484
37,005
37,005
101,876
101,876
12101101
122,465
77,981
62,526
127,397
44,484
35,667
72,672
98,194
200,070
06 101/02
122,465
77,981
60,266
187,664
44,484
34,378
107,050
94,644
294,714
12101/02
122,465
77,981
58,088
245,752
44,484
33,136
140,186
91,224
385,938
06/01103
125,205
79,726
57,241
302,993
45,479
32,652
172,838
89,894
475,831
12/01/03
125,205
79,726
55,172
358,165
45,479
31,472
204,311
86,644
562,476
06/01/04
128,000
81,506
54,365
412,530
46,494
31,012
235,322
85,377
647,852
12/01/04
126,000
81,506
52,400
464,930
46,494
29,891
265,213
82,291
730,143
06/01105
130,850
83,321
51,631
516,561
47,529
29,452
294,665
81,083
811,226
12/01/05
130,850
83,321
49,765
566,325
47,529
28,388
323,053
78,152
889,378
06101106
133,758
85,172
49,032
615,357
48,585
27,970
351,022
77,001
966,380
12101/06
133,758
85,172
47,260
662,617
48,585
26,959
377,981
74,218
1,040,598
06101/07
136,724
87,061
46,561
709,178
49,663
26,560
404,541
73,122
1,113,719
12/01107
136,724
87,061
44,878
754,056
49,663
25,600
430,142
70,479
1,184,198
06101/06
139,749
20,253
10,063
764,119
119,496
59,372
489,513
69,434
1,253,632
12/01/08
139,749
0
764,119
139,749
66,925
556,438
66,925
1,320,557
06/01/09
142,834
0
764,119
142,834
65,930
622,368
65,930
1,386,487
12/01/09
142,834
0
764,119
142,834
63,547
665,915
63,547
1,450,034
06/01/10
145,982
0
764,119
145,982
62,600
748,514
62,600
1,512,633
12101/10
145,982
0
764,119
145,982
60.337
808,851
60,337
1,572,970
06/01/11
149,192
0
764,119
149,192
59,435
868,287
59,435
1,632,406
12/01111
149,192
0
764,119
149,192
57,287
925,573
57,287
1,689,692
06/01/12
152,466
0
764,119
152,466
56,428
982,001
56,428
1,746,120
12/01/12
152,466
0
764,119
152,466
54,389
1,036,390
54,389
1,800,509
06/01/13
155,806
0
764,119
155,806
53,571
1,089,981
53,571
1,854,080
12101/13
155,805
0
784,119
155,806
51,635
1,141,596
51,635
1,905,715
06/01/14
159,213
0
764,119
159,213
50,857
1,192,452
50,857
1,956,571
12/01/14
159,213
0
764,119
159,213
49,018
1,241,471
49,018
2,005,590
06/01/15
162,688
0
764,119
162,688
48,278
1,289,749
48,278
2,053,868
12/01/15
162,688
0
764,119
162.688
46,533
1,336,282
46,533
2,100,401
4,214795 1,165,751 764,119 764,119 3.049.043 1,336,282 1,336,282 112,100,401 2,100,401
Onan2.WK4 PREPARED BY KRASS MONROE, P.A. 12/17/98
a_D
12/18/98 FRI 12:43 FAX 812 885 5989 BRASS MONROE J0oe
• CITY OF FRIDLEY
T.l -D, #9 - ONAN
SOURCES AND USES
SOURCES
Tax Increment Present Value Used
DTED (75 °!0 of Cleanup & Soil Correction Costs) $956,140 @ 75.00% _
City (Developer Obligation) (Share of Cleanup & Soil Correction Costs)
Met Council (Share of Cleanup & Soil Correction Costs)
Land Payment 1,132,560 sq. ft. @ 1.20 /sq. ft. _
TOTAL SOURCES
USES
Land Acquisition 1,132,560 sq. ft. @ 1.00 /sq. ft.
Cleanup costs (DTED P Cost)
Site Investigation & Remediation Development 111,500
RAP Implementation - Cleanup Costs 474,450
Contingency 20.00% 117,190
Soil Correction, Dewatering (DTED P Cost)
Dewatering 65,000
French Drain 155,000
Contingency 15.00% 33,000
Infrastructure
Roadway access
207,500
Grading
265,000
Stormwater Treatment / Constructed Wetland
475,000
Sanitary Sewer
30,000
Water
Debris on Site
75,000
Propane Tank Explosion Berm
30,000
Contingency 15.00%
40,000
168,375
Professional Fees
TOTAL USES
SURPLUS / (DEFICIT)
1,200,000
717,105
0
154,658
1,359,072
3,430,835
1,132,560
703,140
253,000
1,290,875
25,000
3,404,575
26,260
Onan2.WK4 PREPARED BY KRASS MONROE, P.A. 12/17/98
4 -Q
12/18/98 FRI 12:43 FAX 812 885 5989 BRASS MONROE X1009
CITY OF FRIDLEY
T.I.D. #9 - ONAN
TAX INCREMENT REVENUE NOTE
Principal Amount
Interest Rate
Number of Payments
Payment Amount
Interest Start Date
Term of Note
764,119
7.50%
15 semi - annual payments
Available Tax Increment
12/01/98
9.5 years
Capitalised
Date Interest Payment Interest Principal Balance
12/01198
764,119
06/01/99
28,654
0
0
792,773
12/01/99
29,729
0
0
822,502
06 /01 /00
30,844
0
0
853,346
12/01/00
32,000
0
0
885,346
06/01/01
0
77,981
33,200
44,781
840,565
12/01/01
0
77,981
31,521
46,460
794,105
06/01/02
0
77,981
29,779
48,203
745,902
12/01/02
0
77,981
27,971
50,010
695,892
06/01/03
0
79,726
26,096
53,630
642,262
12/01/03
0
79,726
24,085
55,641
586,621.
06/01/04
0
81,506
21,998
59,507
527,113
12101 /04
0
81,506
19,767
61,739
465,374
06/01/05
0
83,321
17,452
65,869
399,505
12/01/05
0
83,321
14,981
68,340
331,165
06/01/06
0
85,172
12,419
72,754
258,412
12/01/06
0
85,172
9,690
75,482
182,930
06/01/07
0
87,061
6,860
80,201
102,729
12/01/07
0
87,061
3,852
83,209
19,520
06/01/08
0
20,253
732
19,521
(1)
121,228
1,165,751
280,404
885,347
Onan2.WK4 PREPARED BY KRASS MONROE, P.A. 12117/98
4 -R
12/18/98 FRI 12:44 FAX
912 885 5989 BRASS MONROE
IJO1D
CITY OF FRIDLEY
T.I.D. 09 - ONAN
ASSUMPTIONS
Original Market Value
PIN# 12-41 -0002
1,132,560 sq. ft. @
1.00 /sq. ft.
= 1,132,560
Original Tax Capacity
3.50%
39,640
Estimated Market Value
10,677,414
Land
1,132,560 sq. ft. @
1.00 /sq. ft.
= 1,132,560
Building
406,164 sq. ft. @
23.50 /sq. ft.
= 9,544,854
Estimated Tax Capacity
3.50%
373,709
Estimated Taxes
406,164 sq. ft. @
1.21 /sq. ft.
= 491,973
Construction
1 999
Valuation
2000
Taxes Payable
2001
Admin/Program Fees
Revenue Note
Proceeds to Developer (If no grant money is received)
Proceeds to City (If no grant money is received)
Pay 1989 Tax Rate certified tax rate
Pay 1999 Tax Rate - estimate
Inflation
P. V. Rate
P. V. Rate
2002/2003
12/01/98
12/01/98
25.00%
1,200,000 57.92%
871,763 42.08%
0.97756
__ 1.31646
2.00%
for City Obligations /Debt 7.50%
for Revenue Note 7,50%
Onan2w.WK4 PREPARED BY KRASS MONROE, P.A. 12/17198
4 -S
12/18/98 FRI 12:44 FAX 612 885 5969 BRASS MONROE foil
CITY OF FRIDLEY
T.I.D. 89 - ONAN
CASH FLOW AND PRESENT VALUE ANALYSIS
06/01/98
ANNUAL
39,640
0
0
SEMI - ANNUAL ----
--..�.
>
12101/98
39,640
(a) (b)
(c)
(d)
(e)
M
(9)
(h)
39,640
39,640
Original
Estimated
Captured
Estimated
Less:
Available
Cumulative
.-- Present Value ----.>
Tax
Tax
Tax
Tax
Admin
Tax
Avail. Tax
Semi Annual
Cumulative
Date Capacity
Capacity
Capacity
Increment
Fees
Increment
Increment
Balance
Balance
(see assumptions)
(c) - (b)
(d) x
(e) x
(e) - (f)
Total of (g)
P.V. of (g)
Total of (1)
40,822
122,465
(prev, year)
0.97756
25.00%
373,709
334,070
750%
40,822
06/01/98
39,640
39,640
0
0
0
0
0
12101/98
39,640
39,640
0
0
0
0
0
06/01/99
39,640
39,640
385,938
0
0
0
0
12/01/99
39,640
39,640
730,143
0
0
0
0
06 /01 /00
39,640
373,709
0
0
0
0
0
12101/00
39,640
373,709
0
0
0
0
0
06101101
39,640
373,709
334,070
163,287
40,822
122,465
122,465
12/01/01
39,640
373,709
334,070
163,287
40,822
122,465
244,930
06/01/02
39,640
381,184
334,070
183,287
40,822
122,465
367,395
12/01/02
39,640
381,184
334,070
163,287
40,822
122,465
489,860
06/01/03
39,640
388,807
341,544
166,940
41,735
125,205
615,085
12/01/03
39,640
388,807
341,544
166,940
41,735
125,205
740,270
06/01/04
39,640
396,584
349,168
170,666
42,667
128,000
868,270
12101/04
39.640
396,584
349,168
170,666
42,867
128,000
996,269
06101105
39,640
404,515
358,944
174,467
43,617
130.850
1,127,120
12/01/05
39,640
404,515
356,944
174,467
43,517
130,850
1,257,970
06/01/06
39,640
412,805
364,876
178,344
44,586
133,758
1,391,728
12101/06
39,640
412,605
364,876
178,344
44,586
133,758
1,525,486
06/01/07
39,640
420,858
372,966
182,298
45,575
136,724
1,662,209
12101/07
39,640
420,858
372,966
182,298
45,575
136,724
1,798,933
06/01/08
39,640
429,275
381,218
186,332
46,583
139,749
1,938,682
12/01/08
39,640
429,275
381,218
188,332
46,583
139,749
2,078,431
06/01/09
39,640
437,860
389,635
1901446
47,611
142,834
2,221,265
12101/09
39,640
437,860
389,835
190,446
47,611
142,834
2,364,099
06101/10
39,640
446,617
398,221
194,642
48,661
145,982
2,510,081
12101110
39,640
446,617
398,221
194,642
48,661
145,982
2,656,063
06101/11
39,640
455,550
408,978
198,923
49,731
149,192
2,805,255
12/01/11
39,840
455,550
406,978
198,923
49,731
149,192
2,954,447
06101/12
39,640
464,661
415,910
203,289
50,822
152,466
3,106,913
12101/12
39,640
484,661
415,910
203,289
50,822
152,466
3,259,380
08/01/13
39,640
473,954
425,021
207,742
51,935
155,806
3,415,186
12/01113
39,640
473,954
425.021
207,742
51,935
155,806
3,570,992
06/01/14
39,640
483,433
434,314
212,284
53,071
159,213
3,730,206
12/01114
39,640
483,433
434,314
212,284
53,071
159,213
3,889,419
06/01115
39,640
493,102
443,793
216,917
54,229
162,688
4,052,107
12/01/15
39,640
493,102
443,793
216,917
54,229
162,888
4,214,795
5,619}726
1,404.932
4,214,795
4.214,795
0
0
0
0
0
0
0
0
0
0
0
0
101,876
101,876
98,194
200,070
94,644
294,714
91,224
385,938
89,894
475,831
86,644
562,476
85,377
647,852
82,291
730,143
81,083
811,226
78,152
889,378
77,001
966,380
74,218
1,040,598
73,122
1,113,719
70,479
1,184,198
69,434
1,253,632
66,925
1,320,557
65,930
1,386,487
63,547
1,450,034
62,600
1,512,633
60,337
1,572,970
59,435
1,632,406
57,287
1,689,692
56,428
1,746,120
54,389
1,800,509
53,571
1,854,080
51,635
1,905,715
50,857
1,956,571
49,018
2,005,590
48,278
2,053,868
46,533
2,100,401
_ 2,100,401
2,100,401
Onan2w.WK4 PREPARED BY KRASS MONROE, P.A. 12/17198
A -T
12/18/98 FRI 12:44 FAX 612 885 5969 RRASS MONROE Z012
CITY OF FRIDLEY
T.LD. #9 - ONAN
PRESENT VALUE ANALYSIS FOR CITY AND REVENUE NOTE
Date
Available
Tax Increment
(from Cash
Flow Analysis)
Available for
Revenue
Note
(b) x
57.92%
P. V. Rate
Semiannual. Cumulative
Balance Balance
P.V. of (c) Total of (d)
7.50%
Nvallable for
Authority
(b) - (c)
P. V. Rate
Semiannual Cumulative
Balance Balance
P.V. of (f) Total of (g)
7.50 %,
Total Total
Semiannual Cumulatvvf
Balance Balance
(d) + (g) (e) + (h)
06/01/96
0
0
0
0
0
0
0
0
0
12/01198
0
0
0
0
0
0
0
0
p
06/01/99
0
0
0
0
0
0
0
0
p
12101/99
0
0
0
0
0
0
0
p
0
06/01/00
0
0
0
0
0
0
0
0
p
12101/00
0
0
0
0
0
0
0
0
0
06/01/01
12101/01
122,465
122,465
70,934
70,934
59,008
56,875
59,008
115.884
51,531
42,866
42,868
101,876
101,876
06/01/02
122,465
70,934
54,820
170,703
51,531
51,531
41,318
39,825
84,186
124,011
98,194
94,644
200,070
294,714
12/01/02
06/01/03
122,465
125,205
70,934
72,521
52,838
52,068
223,542
275,609
51,531
52,684
38,385
162,396
91,224
385,938
12101/03
125,205
72,521
50,186
325,795
52,684
37,826
36,458
200,222
236,680
89,894
86,644
475,831
562,476
06/01/04
12/01104
128,000
128,000
74,140
74,140
49,452
47,664
375,247
422,911
53,860
53,860
35,925
272,605
85,377
647,852
06/01/05
12101/05
130,850
75,791
46,965
469,876
55,060
34,627
34,118
307,232
341,350
82,291
81,083
730,143
811,226
06/01/06
130,850
133,758
75,791
77,475
45,267
44,600
515,143
559,743
55,060
56,283
32,885
374,235
78,152
689,378
12/01/06
08/01/07
133,758
77,475
42,988
602,732
56,283
32,401
31,230
406,636
437,666
77,001
74,218
966,380
1,040,598
12/01/07
136,724
136,724
79,193
79,193
42,353
40,822
645,085
685,907
57,531
57,531
30,768
29,656
488,634
73,122
1,113,719
06/01/08
139,749
80,945
40,218
726,125
58,804
29,217
498,291
527,507
70,479
69,434
1,184,198
1,253,632
12/01/08
06/01/09
139,749
142,834
80,945
82,732
38,764
38,188
764,889
803,077
58,804
28,161
555,668
66,925
1,320,557
12/01/09
142,834
82,732
36,807
839,884
60,102
60,102
27,742
26,739
583,410
810,150
65,930
63,547
1,386,487
1,450,034
06101/10
12/01/10
145,982
145,982
84,555
84,555
36,259
34,948
876,143
911,091
61,427
26,341
.636,491
62,600
1,512,633
06/01/11
149,192
86,414
34,426
945,517
61,427
62,777
25,389
25,009
661,879
686,889
60,337
59,435
1,572,970
1,632,406
12101/11
08101/12
149,192
152,466
86,414
88,311
33,181
32,684
978,698
1,011,382
62,777
84,155
24,105
710,994.
57,287
1,689,692
12/01/12
06/01/13
152,466
88,311
31,503
1,042,885
64,155
23,744
22,886
734,738
757,624
56,428
54,389
1,746,120
1,800,509
12/01/13
155,806
155,806
90,246
90,246
31,029
29,908
1,073,914
1,103,822
65,561
22,542
780,166
53,571
1,854,080
06/01/14
159,213
92,219
29,457
1,133,279
65,561
66,994
21,727
21,400
801,893
823,292
51,635
50,857
1,905,715
1,956,571
12101/14
06/01/15
159,213
162.688
92,219
94,232
28,392
27,963
1,181,671
1,189,635
66,994
68,456
20,626
843,918
49,018
2,005,590
12/01/15
162,688
36,239
10,365
1,200,000
126,449
20,315
38,168
864,233
900,401
48,278
46,533
2,053,868
2,100,401
4.214,795
2,383,287
1,200,000
1.200,000
1,831.507
900.401
900.401
2,100,401
2 100 401
Onan2w.WK4 PREPARED BY KRgS pAQNROE, P.A. 12/17/98
12/18/98 FRI 12:45 FAX 612 885 5969 BRASS MONROE 901-3
CITY OF FRIDLEY
T.I.D. #9 - ONAN
SOURCES ANb USES
SOURCES
Tax Increment Present Value Used
DTED (75% of Cleanup & Soil Correction Costs) $956,140 @ 75.00% _
City (Developer Obligation) (Share of Cleanup & Soil Correction Costs)
Met Council (Share of Cleanup & Soil Correction Costs)
Land Payment 1,132,560 sq. ft. @ 1.20 /sq. ft. _
TOTAL SOURCES
USES
Land Acquisition 1,132,560 sq. ft. @ 1.00 /sq. ft.
Cleanup costs (DTED P Cost)
Site Investigation & Remediation Development
111,500
RAP Implementation - Cleanup Costs
474,450
Contingency 20.00%
117,190
Soil Correction, Dewatering (DTED P Cost)
30,000
Dewatering
65,000
French Drain
155,000
Contingency 15.00%
33,000
Infrastructure
Roadway access
207,500
Grading
265,000
Stormwater Treatment / Constructed Wetland
475,000
Sanitary Sewer
30,000
Water
75,000
Debris on Site
30,000
Propane Tank Explosion Berm
40,000
Contingency 15.00%
168,375
Professional Fees
TOTAL USES
SURPLUS / (DEFICIT)
1,200,000
717,105
0
154,658
1,359,072
3,430,835
1,132,560
703,140
253,000
1,290,875
25,000
3,404,575
26,260
Onan2w.WK4 PREPARED BY KRASS MONROE, P.A. 12/17/98
12/18/98 FRI 12:45 FAX 812 885 5989 BRASS MONROE 014
CITY OF FRIDLEY
T.I.D. #9 - ONAN
TAX INCREMENT REVENUE NOTE
Principal Amount
Interest Rate
Number of Payments
Payment Amount
Interest Start Date
Term of Note
1,200,000
7.50%
30 semi - annual payments
Available Tax Increment
12101/98
17.0 years
Capitalized -
Date Interest Payment Interest Principal Balance
12/01 /98
1,200,000
06/01199
45,000
0
0
1,245,000
12/01 /99
46,688
0
0
1,291,688
06/01 /00
48,438
0
0
1,340,126
12/01/00
50,255
0
0
1,390,380
06/01 /01
0
70,934
52,139
18,795
1,371,586
12/01 /01
0
70,934
51,434
19,499
1,352,087
06/01/02
0
70,934
50,703
20,231
1,331,856
12/01/02
0
70,934
49,945
20,989
1,310,867
06/01/03
0
72,521
49,158
23,363
1,287,504
12/01/03
0
72,521
48,281
24,239
1,263,264
06/01/04
0
74,140
47,372
26,767
1,236,497
12101/04
0
74,140
46,369
27,771
1,208,726
06/01105
0
75,791
45,327
30,463
1,178,263
12/01/05
0
75,791
44,185
31,606
1,146,657
06/01/06
0
77,475
43,000
34,475
1,112,182
12/01/06
0
77,475
41,707
35,768
1,076,414
06/01/07
0
79,193
40,366
38,827
1,037,586
12/01/07
0
79,193
38,909
40,283
997,303
06/01 /08
0
80,945
37,399
43,546
953,757
12/01/08
0
80,945
35,766
45,179
908,578
06/01/09
0
82,732
34,072
48,660
859,918
12101/09
0
82,732
32,247
50,485
809,433
06101/10
0
84,555
30,354
54,201
755,231
12/01/10
0
84,555
28,321
56,234
698,998
06/01/11
0
86,414
26,212
60,202
638,795
12/01 /11
0
86,414
23,955
62,460
576,336
06/01/12
0
88,311
21,613
66,699
509,637
12/01/12
0
88,311
19,111
69,200
440,438
06/01/13
0
90,246
16,516
73,729
366,708
12/01/13
0
90,246
13,752
76,494
290,214
06/01/14
0
92,219
10,883
81,336
208,878
12101/14
0
92,219
7,833
84,386
124,492
06/01/15
0
94,232
4,668
89,563
34,929
12/01/15
0
36,239
1,310
34,929
(0)
190,380
2,383,287
992,907
1,3901380
Onan2w.WK4 PREPARED BYMMONROE, P.A. 12/17/98
12/23/98 WED 12:21 FAX 612 885 5969 BRASS MONROE
CITY OF FRIDLEY
/V,G
T.I.D. #9 - ONAN
ANNUAL DISTRIBUTION OF TAXES
12 002
c R 4 cv, ina N F- ,y
(a) (b)
(c)
(d) (e) (0
(9)
-
_6T
Total
Original Base Taxes +Taxes Over Certified Rate
Available for
Available for
Property
School
Other Taxing
Authority
Revenue Note
Taxes Paid
District
County City Jurisdictions
1 st 25% of
Prior Yr Tax
Portion
Portion Portion Portion
Tax Increment
Avail. Tax
Date Capacity x
Taxes Not Captured by TIF District x
+ remainder
Increment x
1.316459
50.6% 26.7% 15.2% 7.5%
after Rev Note
57.92%
06/01/98
12/01/98
06/01199
0
0
12/01 /99
0
0
06/01/00
0
0
12/01/00
0
0
06/01/01
245,987
41,844
22,087
12,562
6,207
92,353
70,934
12/01/01
245,987
41,844
22,087
12,562
6,207
92,353
70,934
06/01/02
245,987
41,844
22,087
12,562
6,207
92,353
70,934
12/01102
245,987
41,844
22,087
12,562
6,207
92,353
70,934
06/01/03
250,906
42,485
22,426
12,754
6,302
94,419
72,521
12/01/03
250,906
42,485
22,426
12,754
6,302
94,419
72,521
06/01/04
255,924
43,138
22,771
12,951
6,399
96,527
74,140
12/01/04
255,924
43,138
22,771
12,951
6,399
96,527
74,140
06/01/05
261,043
43,805
23,123
13,151
6,498
98,676
75,791
12/01 /05
261,043
43,805
23,123
13,151
6,498
98,676
75,791
06/01/06
266,264
44,485
23,482
13,355
6,598
100,869
77,475
12/01/06
266,264
44,485
23,482
13,355
6,598
100,869
77,475
06/01/07
271,589
45,179
23,848
13,563
6,701
103,106
79,193
12/01/07
271,589
45.179
23,848
13,563
5,701
103,106
79,193
06/01/08
277,021
45,886
24,221
13,776
6,806
105,387
80,945
12/01/08
277,021
45,886
24,221
13,776
6,806
105,387
80,945
06/01/09
282,561
46,608
24,602
13.992
6,913
107,714
82,732
12101/09
282,561
46,608
24,602
13,992
6,913
107,714
82,732
06/01/10
288,213
47,344
24,991
14,213
7,022
110,087
84,555
12/01/10
288,213
47,344
24,991
14,213
7,022
110,087
84,555
06/01/11
293,977
48,095
25,387
14,439
7,134
112,508
86,414
12/01/11
293,977
48,095
25,387
14,439
7,134
112,508
86,414
06/01/12
299,856
48,860
25,791
14,669
7,247
114,977
88,311
12/01/12
299,856
48,660
25,791
14,669
7,247
114,977
88,311
06/01/13
305,853
49,642
26,204
14,903
7,363
117,496
90,246
12/01/13
305,853
49,642
26,204
14,903
7,363
117,496
90,246
06/01/14
311,971
50,438
26,624
15,142
7,481
120,065
92,219
12101 /14
311,971
50,438
26,624
15,142
7,481
120,065
92,219
06/01/15
318,210
51,251
27,053
15,386
7,602
122,686
94,232
12/01/15
318,210
51,251
27,053
15,386
7,602
180,678
36,239
8.35023,
1,381,805
729,392
414 838
204.a§?L
3,236,439
2.383,287
As % of Total Prop.
Taxes Paid
16.5%
8.7%
5.0%
2.5%
38.8%
28.5%
As % of Total Tax
Increment Generated:
57.6%
42.4%
Onan2w.WK4
Prepared by Krass Monroe, P.A.
12/23/98
4 -X
12/23/98 WED 12:21 FAX 812 885 5989 BRASS MONROE X1003
CITY OF FRIDLEY
G�AvjY maNTW
T.I.D. #9 - ONAN
ANNUAL DISTRIBUTION OF TAXES
(a) (b)
(c)
(d) (e) M
(9)
(i)
Total
Original
Base Taxes +Taxes Over Certified Rate
Available for
Available for
Property
School
Other Taxing
Authority
Revenue Note
Taxes Paid
District
County City Jurisdictions
1st 25% of
Prior Yr Tax
Portion
Portion Portion Portion
Tax Increment
Avail. Tax
Date Capacity x
Taxes Not Captured by TIF District x
+ remainder
Increment x
1.316459
50.5% 26,7% 15.2% 7.5%
after Rev Note
63.68%
06/01/98
12/01/98
06/01199
0
0
12101/99
0
0
06/01100
0
0
12/01100
0
0
06/01/01
245,987
41,844
22,087
.12,562
6,207
85,305
77,981
12/01/01
245,987
41,844
22,087
12,562
6,207
85,305
77,981
06/01/02
245,987
41,844
22,087
12,562
6,207
85,305
77,981
12/01/02
245;987
41,844
22,087
12,562
6,207
85,305
77,981
06/01/03
250,906
42,485
22,426
12,754
6,302
87,214
79,726
12/01/03
250,906
42,485
22,426
12,754
6,302
87,214
79,726
06/01/04
255,924
43,138
22,771
12,951
6,399
89,160
81,506
12/01104
255,924
43,138
22,771
12,951
6,399
89,160
81,506
06/01/05
261,043
43,805
23,123
13,151
6,498
91,146
83,321
12/01/05
261,043
43,805
23,123
13,151
6,498
91,146
83,321
06/01/06
266,264
44,485
23,482
13,355
6,598
93,171
85,172
12/01/06
266,264
44,485
23,482
13,355
6,598
93,171
85,172
06/01107
271,589
45,179
23,848
13,563
6,701
95,237
87,061
12101/07
271,589
45,179
23,848
13,563
6,701
95,237
87,061
06/01/08
277,021
45,886
24,221
13,776
6,806
166,079
20,253
12/01/08
277,021
45,886
24,221
13,776
6,806
186,332
0
06/01/09
282,561
46,608
24,602
13,992
6,913
190,446
0
12/01/09
282,561
46,608
24,602
13,992
6,913
190,446
0
06/01/10
288,213
47,344
24,991
14,213
7,022
194,642
0
12/01/10
288,213
47.344
24,991
14,213
7,022
194,642
0
06/01/11
293,977
48,095
25,387
14,439
7,134
198,923
0
12/01111
293,977
48,095
25,387
14,439
7,134
198,923
0
06/01/12
299,856
48,860
25,791
14,669
7,247
203,289
0
12/01/12
299,856
48,860
25,791
14,669
7,247
203,289
0
06/01/13
305,853
49,642
26,204
14,903
7,363
207,742
0
12/01/13
305,853
49,642
26,204
14,903
7,363
207,742
0
06/01114
311,971
50,438
26,624
15,142
7,481
212,284
0
12/01/14
311,971
50,438
26,624
15,142
7,481
212,284
0
06/01/15
318,210
51;251
27,053
15,386
7,602
216,917
0
12/01/15
318,210
51,251
27,053
15,386
7,602
216,917
0
8,350,723
1,381,805
729,392
414,838
204,962
4,453.975
1,1651751
0
As % of Total Prop.
Taxes Paid
16.5%
8.7%
5.0%
2.5 %
53.3%
14.0%
As % of Total Tax Increment Generated: 79.3% 20.7%
Onan2.WK4 Prepared by Krass Monroe, P.A. 12/23/98
4 -Y
01 Did o UT-01W��
HOUSING
AND
REDEVELOPMENT
DATE: December 28, 1998
AUTHORITY
TO: William W. Bums, Executive Director of HRA A4
FROM: Barbara Dacy, Community Development Director
Grant Femelius, Housing Coordinator
SUBJECT: Update on Housing Program Evaluation Report
Surveys
In late November a written survey was mailed to 285 families who have
participated in the HRA's housing program. The survey included all participants
dating back to 1993. As of last week, 119 (41 %) of the surveys were returned.
In addition, a separate survey was mailed to residents in the Hyde Park
neighborhood. So far, 31 of 139 surveys (22 %) have been returned. Ben
Martig, Housing Intern, is in the process of tabulating the survey results. A full
report of the findings will be ready for the February HRA meeting.
Personal Interviews
In addition, staff has scheduled a number of personal interviews with respon-
dents. The purpose of the personal interview is to get individual perspectives on
the program. Follow -up questions will be asked to help expand on the issues
from the written survey. The interviews will be videotaped and presented at the
February HRA meeting as well.
ttuxerur*Tmaro =0H
At the December 3, 1998 meeting, the HRA requested additional information on
the This Old House property tax. program. Ben Martig met with the City
Assessor's office and Anoka County officials to learn more about the program. A
separate memorandum is attached with more information.
M -98 -247
5
rt
MEMORANDUM
HOUSING-DIVISION-
TO: Barbara Dacy, Community Deveiopment Director
Grant Femelius, Housing Coordinator
FROM: Ben Martig, Housing and Special Projects Intern
DATE: 12/22/98
RE: "This Old House" Program
Background
At the December 3'd HRA meeting, staff presented an update regarding the progress of
the City home rehabilitation loan and grant program evaluation. One of the items
discussed was the "This Old House" program. The HRA requested information on the
program including examples of how the program works, eligible properties in the City,
and the number of households that have participated.
The following memo provides a description of the program, a case example of the tax
benefits to a homeowner, the City's current marketing of the program, and the number
of eligible properties and participants.
Program Summary
The This Old House program was established by the Minnesota Legislature in 1993.
The program provides a property tax break on the increased market value of home
improvements made to homes at least 35 years of age. The City's housing stock
includes 4,495 eligible homes in the 35 -70 year category and 26 homes eligible in the
over 70 year category. One hundred and thirty -three (133) residents have taken
advantage of the program since it was established in 1993. The following is a list of
eligibility guidelines and benefits of the This Old House program:
• The property must be owner - occupied.
• A minimum of $1,000 worth of improvements must be made to the home or garage.
Landscaping, swimming pools, or normal upkeep such as roofing and painting are
not eligible.
y
5 -A
• Up to three improvement projects can be included over a ten year period.
• ' If the home is more than 70 years old, the owner qualifies for a property tax
exclusion equal to the entire amount of the increase in the home's value, up to
$50,000.
• If the home is 35 to 70 years old, the owner qualifies for an exclusion equal to half of
the increase in value, up to $25,000.
• If the home is sold within the 15 -year grace period, the real estate agent is
responsible for informing the new homeowner of the increased property tax (the
deferred tax break is not transferable to a new owner).
Current Program Marketing
In general, residents are informed of the program after they receive a building permit.
The building inspector will inform the resident that they may be eligible for a tax break.
A pamphlet is distributed that contains an overview of the eligibility guidelines and
benefits. The remodeling advisor also promotes the program during his appointments.
The City's assessor reviews the building permits and visits the home to determine if the
market value has changed due to the improvements. If the value has changed, the
assessor will let the resident know about the This Old House program and provides
them with an application. The assessor mails the completed application to the County
for approval. Once the County reviews and verifies the application, a copy is sent back
to the City for their records. From the assessors experience, most of the people who
did qualify for the tax break were not aware of this added benefit.
Case Example
The subject property, located at 1630 66th Ave. NE, was improved this year and
determined to be eligible for the program. The house was built in 1953, meaning it falls
into the 35 to 70 year old category. The benefits include an exclusion of property taxes
for ten years due to half of the value of the home improvement. After the ten years,
20% of the deferred value will be added to the home each year. By the fifteenth year,
the entire value of the improvement will have been added to the home.
The estimated total cost of the project was $25,000. The home improvements specified
on the building permit include a three - season porch addition to the back of the house,
new roof shingles, and minor roof repair above the dining room. The assessor
determined that the three - season porch addition will add $6,134 of value to the home.
The new shingles and roof repair are considered normal upkeep items which will not
add value to the home and therefore are not eligible.
Using the tax capacity rates for 1998, staff was able to forecast the amount of tax
money saved by participating in the program. These numbers will vary depending
5 -B
changes, such as increases in the percent taxable on the market value of the home, the
local tax rate, and /or school district referendum levy's.
Over a 15 -year period, the estimated total taxes paid with the tax deferment would be
$23,657.64. Without the deferment, the estimated taxes would be $24,460.80. The
total savings in taxes through the This Old House program equals $803.16 less in taxes
or $63.93 less for the first ten years, $53.54 less the eleventh year, $40.17 less the
twelfth year, $26.77 less the thirteenth year, and $13.38 less the fourteenth year.
Although the tax deferment under the This Old House does lower tax costs, it is still can
be very expensive for home owners to make a large home improvement investment in
their home. Those projects which receive the most benefit through the This Old House
program are major projects including remodeling, building additions, and adding a new
garage. The decision to make the improvement is not likely to be heavily influenced by
tax savings due to the high costs of these projects. A combination of City loans and the
This Old House tax deferment can provide significant savings for larger projects.
However, only 17 residents have taken part in both the This Old House program and a
City loan or grant.
Please inform staff if you desire any additional information.
5 -C
DATE: December 23, 1998
I �� �� L 1
HOUSING
Ae
1
REDEVELOPMENT
AUTHORITY
TO:. William Bums, Executive Director of HRA ,f 4V
FROM: Barbara Dacy, Community Development Director
SUBJECT: Medtronic Update
Development Contract
A black lined draft of the development contract was returned to staff from Medtronic on
December 21, 1998. Jim Casserly and I are now in the process of reviewing the
proposed changes to the contract. After our review, we will schedule a meeting with
Medtronic the second week of January. An update will be provided to the HRA at
Thursday's meeting regarding the proposed changes that were suggested by
Medtronic.
AUAR (Alternative Urban Area Wide Review) Process
In the meantime, staff has been working diligently with Medtronic's consultant to
prepare a draft of the AUAR for the Lake Pointe Corporate Center. The AUAR will be
sent to the reviewing agencies the week of January 4, 1999. A 30 day comment period
would then ensue expiring on February 10, 1999.
The major findings of the AUAR are as follows:
• The AUAR proposes the most intensive development as follows: 1,450,000 square
feet of office /research & development, 100,000 square feet of light industrial, 10,000
square feet of restaurant, 40,000 square feet of motel
• The phasing of the site development is assumed at a worst case scenario of full
build -out by 2009 with the phasing of the development in four increments of 400,000
square feet each. Phase One would be completed by the year 2001, Phase Two
L�
Medtronic Update
December 23, 1998
Page 2
would be completed in 2004, Phase Three would be completed in 2007, and Phase
Four would be completed by 2009.
• The existing Lake Pointe Drive is proposed to be removed so that the site can be
fully utilized for the development. Bridgewater Drive is proposed to be reconstructed
along the north side of the property and would intersect 7t' Street at the northwest
-comer of the site as opposed to the existing intersection location at the southwest
comer of the site. Although the location for the Phase One development has not
been identified, the AUAR indicates that the connection to r Street from
Bridgewater Drive will be made prior to Phase Two construction.
There are no significant air quality impacts which require mitigation.
There are two intersections which will operate at a level of Service E or F in the year
2010:
=> TH 65 /1-ake Pointe Drive /Central Avenue
=:> TH 47 and 1 -694 South ramps
The construction of an additional northbound and southbound lane on Highway 65
from 1 -694 to approximately the 63 d Avenue intersection may be considered as a
possible mitigation alternative to address the level of service problem at that
intersection. The lane addition could be accomplished without the need to fill Moore
Lake by constructing sheet pile retaining walls on either side of the roadway. A cost
estimate is currently being prepared by Medtronic's consultant.
• A sewer line in 57' Avenue to the west of the site must either be removed and
replaced with a larger sewer line or an additional sewer line must be installed prior
to construction of Phase Two.
The Indirect Source Permit application is also being prepared at this time and will be
submitted to MPCA for its review. Approximately 6,200 parking spaces could ultimately
be constructed on the campus, both in structured and surface parking. The air quality
results show that state thresholds are not being exceeded.
A copy of the draft concept plan contained in the AUAR is attached. No action is
needed by the HRA at this time.
BD:Is
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MEMORANDUM
HOUSING
REDEVELOPMENT
...- 11 DATE: December 28, 1998
AUTHORITY
TO: William W. Bums, Executive Director of HRA 4N Y
FROM: Barbara Dacy, Community Development Director
Grant Femelius, Housing Coordinator
SUBJECT: Update on Design and Development Issues for Scattered
Site Program
Design Issues
The scattered site program has been very successful in replacing old deteriorated
housing with new modem homes. Staff has worked with a number of scattered site
builders on house design suggestions and modifications. In fact, staff recently rejected
a proposed split level design on the Mississippi Street lot. One of the observations staff
has made regarding the program is the fact that builders have been extremely cautious
about innovations in the design of their scattered site homes. That is not to say that we
are unhappy with, or not proud of, the homes that have been built. It has, however,
caused staff to evaluate what can be done to encourage house designs which do not
replicate the typical "suburban" tract houses from the outer ring cities.
When asked to minimize the impact of garages or to avoid "cookie cutter" house
designs, builders have responded with:
• "We need to keep the price of the surrounding homes in perspective."
•
'"We know this floor plan sells."
• "We have built many homes like this one."
•
'We have built enough of these plans to know exactly what it costs to build it
and what our margins are."
Knowing what builders and developers are experiencing in the marketplace is
important, but these comments and philosophies don't mean that we can't encourage
innovative and attractive designs. Attached are several sample plans that typify the
design issues staff would like to pursue.
7
Update on Design and Development Issues for Scattered Site Program
December 28, 1998
Page 2
A Need for Move -Up Housing
In addition to these design issues, there will be an increasing demand for "move -up"
housing, given the onset of Medtronic development. Offering "move -up" housing
accomplishes at least three objectives: r_
1. Keeps residents from moving by- effering-another housing choice.
2. Gives up existing affordable houses to others.
3. Provides another housing choice for new households to move into Fridley.
A prime opportunity to provide a move -up opportunity for housing is the scattered site
lot at 1015 Mississippi Street. The site dimensions of 250 ft. x 107 ft. (26,750 sq. ft.),
combined with mature trees and solid established homes in the area, make this a
strong candidate for an innovative scattered site solution. A typical split entry
$115,000- 125,000 home on this lot would be a lost opportunity to showcase what can
be done when these lots become available.
Suggested Approach
We plan to meet with Robert Gerloff, the architect who is drafting the multi -city
remodeling guide, on January 7, 1999, to discuss our design issues and, in particular,
to address the design of a house on the Mississippi Street lot. From that meeting, we
may ask the HRA to authorize staff to enter into an agreement with Gerloff to draft a set
of house plans to take out to builders and realtors for feedback. At that point, we would
with either solicit development proposals or possibly the HRA could act as its own
developer. In the meantime, we plan to take the Mississippi St. lot off the market and
keep this site in the inventory for a model project. Some of the design ideas could then
be replicated at other future sites.
We will update the HRA on Thursday with the results of our meeting with Gerloff.
M -98 -248
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Design AA2661
First Floor: 1,020 square feet
Second Floor: 777 square feet
Total: 1,797 square feet
Width 34'
Depth 30'
• Any other starter hcsu >-c or r_cir�n er;: c:. •: ,
couldn't have more charm than this lc� com-
I pact fame houses a very livable rlan. An outsanding
feature of the first floor is the lar_e O-Untry kitchen. lt:
fine attractions include a beamed .eilin . raised- hearth
fireplace, built-in windon• seat anki : -..;ot -r :e.tn:it:1 to
the outdoors. A li% inn room is in the grunt of the plan
Iand has another fireplace which shartw the single
I chimney. The rear dormered second floor houses the
sleeping and bath facilities. For information on
customizing this design, call 1 --400 -322 -6797, ext. 500.
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Design AA3316
First Floor: 1 11 :
Second 'Floor: S86
Total: 1.997 squa-
Width 32• -8'*
Oeptti 513*
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plan
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room combination
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Design AA9117
Square Footage: 1,035
Width 27'
Depth 42' -4
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• This quaint, cozy cottage serves a even make a great primary residence
varietv of needs. It could be used as for a single person or a couple. It's
a second home or leisure get - away; fine detailing and traditional fea-
it could he the perfect guest hruSr " tures make it a favorite with
mother -in -law cottage; or it may everyone.
Bedroom 1
WIDTH 27'
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a second home or leisure get - away; fine detailing and traditional fea-
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Bedroom 1
WIDTH 27'
11' -4' x 13'
DEPTH 42' -4^
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Design AA8953
Square Footage: 1,530
Width 30' -6"
Depth 82'
• Bricks and shingles lend a winsome air to this
two-bedroom design. A gated porch brings visitors to
the foyer; a large living room opens from here. A
study backs up the living room with three skylights
and built -in bookshelves. A French door leads from
the dining room to a terrace outside. The kitchen,
with its wet bar to the study, has direct access to the
dining room. With two bedrooms, nothing is spared.
The master suite, with its front- facing window, has a
cathedral ceiling, a walk -in closet and a bath with a
double -bowl vanity. Bedroom 2 remains at the other
end of the house and also features a cathedral ceiling.
A full bath with glass block is located across the hall.
Design by
Larry W.
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Bedroom 3
11' -4' x 10'
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Design by
Foyer Larry W.
Garnett &
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Design AA8956
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First Floor: 845 square feet
Second door: 845 square
Total: 1.690 square feet
Width 23'
Depth 42' -4-
0 An angled staircase lends diversity
to this three- bedroom plan. The large
living room, with a front - facing sitting
area, affords amenities such as a fire-
place and lots of wall space for vari-
ous furniture arrangements. The
roomy kitchen features a comer sink
and bar that services the dining room.
Here you'll find a French door open-
ing to the rear yard. A storage closet
accommodates odds and ends. With a
powder room and a utility area
accessing the garage, the first floor
meets the family's needs well. The sec-
ond floor offers two family bedrooms
that share a full bath, and a master
bedroom that boasts a fine angled
bath. With a double -bowl vanity, com-
partmented toilet and comer spa tub,
this bath easily competes with today's
finest.
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Design AA9174
=ir;; door: 6.30 souare feet
Second Floor. 780 souare feet
Total: 1.120 square feel
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introduces the living room with its comer
fireplace. A dining room brings up the
rear of the plan and gains outdoor access
through a French door. The kitchen
boasts a pantry and direct passage to the
utility area. Upstairs, the best in sleeping
arrangements is offered through three
private bedrooms. Bedroom 3 includes a
generous walk -in closet while sharing a
full hall bath with Bedroom 2. The master
bedroom has a ten -foot tray ceiling.
Lending a sense of the dramatic, French
doors open to a balcony overlook to the
living room below. Two walk -in closets
grace this room. Plant shelves through-
out the house add a special touch.
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Dining
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French Door
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Master
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French Doors 112' X 16'
Kitchen
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Design AA3481A
Square footage: 1,901
Width 42'
Depth 63' -6"
• In just under 2,000 square feet, this pleasing
one -story home bears all the livability of hous-
es twice its size. A combined living and dining
room offers elegance for entertaining; % ith tivo
elevations to choose from, the living nom can
either support on octagonal bay or ,
out nook. The L- shaped kitchen tinLi,
access to the breakfast nook and rear t: ail•.
room; sliding glass doors lead front the r,:mC .
room to a back stoop. The master bed o, :n hi,
a quaint potshelf and a private bate
tub, a double -bowl vanih•, a walk -v7i
a compartmented toilet. With two aud�t:�.n.
family bedrooms --one may serve as a der, if
desired —and a hall bath with dual lor. aRYir�-
this plan offers the best in accommooacii-n:..
Both elevations come with the blueprint pack-
age. For information on customizing this
design, call 1-800-3/22-6797, ext. Soo.
gk�_ Design AA3481 B
Square footage: 1.908
Width 42' -4"
Depth 63' -10"
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Design AA3484
First Floor: 1,139 square feet
Second Floor. 948 square feet
Total: 2,087 square feet
Width 32'
Depth 59'4"
• An angled entry offers a new perspective on the formal
areas of this house: living room on the left; dining room on
the right. Both rooms exchange views through a columned
hallway; a potshelf and a niche add custom touches to this
already attention - getting arrangement. At the back of the
first floor, a familv room with built -in bookshelves and an
entertainment- center niche opens to the kitchen and nook
where both cooking and dining become a delight. The sec-
ond floor provides interest with its balcony open to the liv-
ing and family rooms. Three bedrooms include a master
suite with a sloped ceiling, separate closets and a private
bath. The two -car garage has direct access to the house. For
information on customizing this design, call 1 -8170- 322 -6707
ext. SM
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