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HRA 03/13/1986 HOUSING & REDEVELOPMENT AUTHORITY MEETING THURSDAY, MARCH 13, 1986 7:00 P.M. City of Fridley AGENDA HOUSING & REDEVELOPMENT AUTHORITY MEETING THURSDAY, MARCH 13, 1986 7:00 P.M. Location: Council Chamber (upper level) CALL TO ORDER: ROLL CALL: APPROVAL OF MINUTES: Housing & Redevelopment Authority Minutes: January 9, 1986 ADOPTION OF AGENDA: PRESENTATION OF APPRECIATION PLAQUE FOR CAROLYN SVENDSEN 1 REQUEST FOR ASSISTANCE FROM VANTAGE COMPANIES 2 - 2G RESIDENTIAL RELOCATION CLAIM FOR PETER LIND RUKES, 5747 3 - 3J CENTRAL AVENUE N.E. , FRIDLEY, MINNESOTA - TOTAL AMOUNT TO BE APPROVED: $4,45-0.OQ q) REPORT ON THE FEES FOR THE $5,600,000 CAPITAL APPRECIATION 4 - 4L BOND AND $11 ,550,000 VARIABLE RATE GENERAL OBLIGATION TAX INCREMENT BONDS CONSIDERATION OF A RESOLUTION DESIGNATING OFFICIAL 5 DEPOSITORIES FOR THE FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY CONSIDERATION OF APPROVAL OF AN AGREEMENT BETWEEN BETWEEN 6 - 6B THE FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY AND GERALD JOHNSON REGARDING SOIL BORINGS TO BE CONDUCTED BY WOODBRIDGE PROPERTIES, INC. CLAIMS 7 OTHER BUSINESS: ADJOURNMENT: CITY OF FRIDLEY HOUSING & REDEVELOPMENT AUTHORITY MEETING JANUARY 9, 1986 1 CALL TO ORDER: Chairperson Coolers called the January 9, 1986, Housing & Redevelopment Authority meeting to order at 7:55 p.m. ROLL CALL: Members Present: Larry Commers, Duane Prairie, Virginia Schnabel Members Absent: Walter Rasmussen, Elmars Prieditis Others Present: Nasim Qureshi, HRA Director Samantha Orduno, Management Assistant Jim Robinson, Planning Coordinator Rick Pribyl, City Finance Director Dave Newman, HRA Attorney Dave Harris, 470 Rice Creek Blvd. Dick Harris, 6200 Riverview Terrace G. W. Paschke, 7970 University Ave Erik Nesset, Woodbridge Properties Linda Fisher, Larkin, Hoffman, Daly & Lundgren (rep. Woodhridge Prop. ) APPROVAL OF DECEMBER 12, 1985, HOUSING & REDEVELOPMENT AUTHORITY MINUTES: MOTION BY MR. PRAIRIE, SECONDED BY MS. SCHNABEL, TO APPROVE THE DEC. 12, 1985, HOUSING & REDEVELOPMENT AUTHORITY MINUTES. Ms. Schnabel stated that on page 6, 4th paragraph from the bottom, "Mr. Dave Newman" should be changed to "Mr. Dave Weir". UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON CO.'!MERS DECLARED THE MINUTES APPROVED AS AMENDED. 1. UPDATE ON UNIVERSITY AVENUE CORRIDOR: Mr. Qureshi stated that as the HRA members remembered, some business people along University Avenue had appeared before the HRA at a previous meeting to see if something could be done to upgrade University Ave. regarding its image and as a corridor for the City. The proposal was that the City get sone estimates of costs for developing proposals for this area, and the business people agreed they would want the HRA to fund up to $5,000; anything beyond that, they would fund. Mr. Qureshi stated the City did receive five proposals. Out of those five, three were submitted to the HRA. These proposals are as follows: • HOUSING & REDEVELOPMENT AUTHORITY MEETING, JANUARY 9, 1986 PAGE 2 0 Barton Aschman & Assoc. - $25,000 Short-Elliott-Hendrickson - 17,000 Westwood Planning and Eng. - 11 ,500 Mr. Qureshi stated Staff was looking for some direction from the, HRA as to whether the workshould be done, what the cost of the work should be, and how the cost should be shared (City/HRA/business people). Mr. Dave Harris stated he felt the business people had understood this would be a preliminary plan for University, and they were led to believe that $5,000 would probably give a good indication of some ideas that could be done rather than drawing up detailed plans and specs. He felt that was why these estimated figures were so high for the proposals. Mr. Rohinson stated he felt these figures did reflect a turn-key operation that would carry the project from beginning to end. He felt that any one of the proposals could be scaled down to a preliminary number. Mr. Dave Harris stated he felt comfortable with what was proposed in all three proposals, but maybe now the business people should rethink the situation; and if the City wants to go into this kind of detail, then maybe the NPA, the City Council , and other entities should participate to a larger degree. Mr. Prairie stated maybe the business people should come up with a num!ter of how much they were willing to commit dollar-wise, and then come back to the HRA with that figure. Mr. Dave Harris stated that rather than give a number, they would give the HRA a percentage of what they would be willing to pay on a project. Mr. Comers stated the HRA was very interested in participating in this project. They felt it was something well worth looking into. As long as the!' are working to develop the rest of the Center City, there was no reason not to work on the corridor, too. Mr. Dave Harris stated they definitely see this corridor as the focal point of the whole community, and it was important to Fridley's image to make some improvements. Mr. Dave Harris stated that if copies of the materials were sent to him, he would make sure the rest of the committee members received it. Discussion continued until the next meeting. 2. REIMBURSEMENT TO G. W. PASCHKE FOR SOIL CORRECTION COSTS: Mr. Qureshi stated the HRA had agreed to pay Mr..Paschke $43,000 in soil and drainage correction once the building along Main St. was completed. Basically, the building was completed, but there were some other items that needed attention. One was regarding some easements and some question on variance. the City approved with stipulations on the pond and its capacity. He stated the City is working with Mr. Paschke to finalize these problems. HOUSING & REDEVELOPMENT AUTHORITY MEETING, JANUARY 9, 1986 PAGE 3 Mr. Qureshi stated he would recommend the HRA release all the money except $10,000 ($33,000) so that once all the problems are finalized, they could release the final $10,000. Mr. Commers stated the only problem he saw was that the HRA had ,agreed to pay Mr. Paschke when the certificate of occupance was issued. Mr. Paschke stated the building was completed, and all the grounds were completed. The pond was completed. The only thing left was some minor final grading on the bottom of the pond. He stated the easements have been drawn and are done. Mr. Qureshi agreed that the agreement required a certificate of occupancy before the money was released. Staff was recommending the release of most of the money and when the rest of the details were completed, the rest of the money would be released. MOTION BY MR. PRAIRIE, SECONDED BY MMS. SCHNABEL, TO RELEASE $33,000 TO G. W. PASCHKE AT THIS TIME AND TO AUTHORIZE STAFF TO RELEASE THE BALANCE ($10,000) WHEN THE CERTIFICATE OF OCCUPANCY IS ISSUED. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY. Mr. Dave Harris stated he would like to address the HRA relative to this subject in general . He stated that most of the time the HRA participates in soil correction so buildings can be built. He felt the problem with the whole thing was not based on the willingness of the City or the HRA but the timing in getting the money to the developer. He suggested the HRA put themselves in the developer's position where the developer acquires the land and then does the soil correction. The developer then becomes the payee, buying the service through a contractor, the soil is corrected, and the developer has paid out the money. It was at that point in time when he felt the developer should be reimbursed by the HRA for the land correction costs, not when the building was completed. Mr. Dave Harris stated that if the soil work is completed and the ground is ready for building and the money has been expended for that service by the developer, then that was when the developer should be reimbursed. Mr. Qureshi stated this would be a very strong shift from the HRA's approach in the past. What the City and the HRA desire is that the structure be complete. It is the improved property which generates the increment to give the HRA the tool to pay for the assistance. This was true in the case of Mr. Paschke's development and Woodbridge Properties' development. The whole approach was that the assistance provided was a guarantee that the actual facility would be built. He stated the time frame was only a few months. Unless the HRA desired to shift their philosophy, he would recommend they continue to provide the money when the building is completed. Mr. Commers agreed that in order to pay these funds, the HRA needed some assurance that improvements were going to be made to the property. HOUSING & REDEVELOPMENT AUTHORITY MEETING, JANUARY 9, 1986 PAGE 4 Mr. Dave Harris stated he felt that policy was incorrect. There had to be some kind of compromise where maybe one-half or two-thirds of the money could be provided after the correction was completed. Otherwise,they have the situation where the developer is having to be his own banker, and he felt that could be a deterrent to development. It was not always just a few short months if a project was started but halted over the winter months. It could'sometimes run up to 6-8 months. - Mr. Dick Harris suggested the HRA reimburse the developer at roof stage, because they then knew for sure the building was substantially built, and a considerable amount of money had been contributed to the project. Roof stage was usually when the developer made his first draw from the bank. Mr. Corners stated that might be a reasonable compromise. He stated the HRA would address this issue further the next time a similar situation arose. Mr. Paschke stated there were already many problems with bad soil that if the developer has a choice, he would choose not to develop a piece of property because of the high cost of soil correction. This was just adding more obstacles for developers. The assistance from the HRA was fine, but not near the total cost of soil correction. Mr. Commers thanked Mr. Dick Harris, Mr. Dave Harris, and Mr. Paschke for their input. 3. REVISED RESOLUTION N0. HRA 21-1985 REQUESTING CITY COUNCIL TO SELL G.O. TAX INCREMENT BONDS: M0_'IO! BY HS. SCHNABEL, SECONDED BY MR. PRAIRIE, TO RECEIVE THE REVISED RESOLUTION HRA 21-1985 REQUESTING THE CITY COUNCIL TO SELL G.O. TAX INCREMENT BONDS. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY. 4. HRA'S OPTION ON PROPERTY LOCATED ON THE SOUTHEAST CORNER OF 63RD AVENUE AND UNIVERS`T Y AVENUE SERVICE ROAD: Mr. Qureshi stated this was the parcel of property the HRA had an option on as part of the Fridley Plaza office building development. This option ran until Feb. 1986. It was provided that if the HRA desired to exercise its option, they would pay $10,000 and own the property. If they did not wish to exercise its option, then the property owner, Mr. Gus Doty, would have to pay the HRA $90,000 plus interest as of Feb. 1, 1986. They have calculated that interest and principal to be $123,976. Mr. Qureshi stated it was Staff's recommendation that because this was a fairly expensive piece of property and bedause the HRA has shown no desire to be the property owner, it would be best not to exercise the option and let the property owner pay the HRA the money. • HOUSING & REDEVELOPMENT AUTHORITY flEETING, JANUARY 9, 1986 PAGE 5 Mr. Qureshi stated he has discussed this with Mr. Doty. Mr. Doty had presented some plans for an office building on that location. Mr. Qureshi had told him that if Mr. Doty desired to beild an office building, the City wanted some kind of assurance before they negotiate any kind of different agreement. So, at this time, it was Staff's recommendation not to exercise the option and have the property owner pay the HRA. Mr. Commers stated he did not think they should start any kind of negotiations with the property owner on Feb. 1. It was one way or the other. If the property owner wanted to negotiate, he should have been at this meeting. He did not think it was unreasonable to take legal action if the payment was not received on Feb. 1. ?MOTION BY MS. SCH?!ABEL, SECONDED BY HR. PRAIRIE, THAT THE HRA ELECTS NOT TO EXERCISE ITS OPTION CV THE PROPERTY LOCATED ON THE SOUTHEAST CORNER OF 63RD AVENUE AND UNIVERSITY AVENUE SERVICE ROAD AND DIRECTS STAFF TO NOTIFY THE PROPERTY OWNER THAT A PAYMENT OP $123,976 IS DUE ON FEB. 1, 1986. IF THE PAYMENT IS NOT RECEIVED ON THAT DATE, LEGAL COUNSEL IS DIRECTED TO PROCEED WITH PROPER LITIGATION. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMERS DECLARED THE MOTION CARRIED UNANIMOUSLY. { 5. REVIEW S-2 ZONING FOR 100 TWIN DRIVE-IN PROPERTY: Mr. Qureshi stated most of this property was zoned C-3. some R-1 . sone R-3. and a small portion was C-1. Part of the development agreement the HRA entered into with Woodbridge Properties was that the HRA would provide assistance if they would develon the complex in essentially nine phases as shown in their plan. It bound the HRA to facilitate this kind of development and it also bound Woodbridge Properties to do the same. Mr. Qureshi stated this plan called for a comprehensive campus-type approach with a lot of green area, aesthetically pleasing buildings and facilites, and it might be more feasible to have the property zoned S-2 which was approval by design. Woodbridge Properties was seeking a recommendation from the HRA to the Planning Commission and City Council to support the S-2 zoning with certain controls and stipulations. The S-2 zoning would allow the developer to develop without regard to sone of the typical setbacks and things of that type that are encountered with this type of development. The whole idea was to have a cohesive overall development which would be controlled by the HRA, the Planning Commission and the City Council. Mr. Qureshi stated Mr. Robinson has been working with representatives from Woodbridge Properties. He asked Mr. Robinson to outline some of the rationale and some of the stipulations recommended, and then the HRA's recommendation would go to the Planning Commission and City Council. Mr. Robinson stated the HRA members had a copy of a memo dated Jan. 9, 1986, { addressed to the Planning Commission and City Council . If approved, this would be the HRA's recommendation to the Planning Commission and City Council. HOUSING & REDEVELOPMENT AUTHORITY MEETING; JANUARY 9, 1986 PAGE 6 Mr. Robinson stated the Planning Commission reviewed this drafted memo at their meeting on Jan. 8 and the drafted material of the plan, and they felt the S-2 zoning was an appropriate way to proceed with the project. When the City initially looked at the project in relationship to C-3 zoning, they saw C-3 was the highest zoning which would facilitate this project; however, there were a number of special use permits and setbacks and variances (which noramlly apply to a C-3 district) that did not seem applicable to this develop- ment because of the campus-type approach. So, rather than go through that length_ process, they would like to rezone the property to S-2 which was HRA zoning. Mr. Robinson stated they would also like to establish at the onset what would be reasonable modifications to the plan which the HRA and staff would approve and substantial changes to the plan which would include HRA, Planning Commission, and City Council review and approval . Those were outlined on page 2 and 3 of the Jan. 9 memo. Mr. Robinson reviewed the reasonable changes, substantial changes, and stipu- lations in the memo. Ms. Schnabel stated one thing she liked about the S-2 zoning was that as stated on page 2 of the mento: "the S-2 code provides additional security as to the future land use of this site in the unlikely event that the Woodbridge development is not realized." Ms. Schnabel asked that if for some reason Woodbridge Properties was not able to develop the property and the HRA had to go to another developer, was there any way to preserve this type of plan? Mr. Qureshi stated it was his understanding that this was the plan that was approved by the HRA for this property per the development agreement. Whether it was Woodbridge Properties or any other developer, they would have to abide by this plan which goes with the property. Mr. Robinson stated what he had tried to do in the memo was distinguish between changes that would have to go to the HRA and Planning Commission and City Council and those changes that would just have to come before the NRA. It aid not take away any of the HRA's rights under the development agreement. The HRA still had the power of review over any changes. Reasonable changes were reviewed and approved by the HRA and staff and do not have to go to the Planning Commission and City Council, and substantial changes are reviewed and approved by the HRA, Planning Commission and City Council. Mr. Commers stated he had reviewed the memo and had no problems with it. Mr. Eric Nesset, Woodbridge Properties, stated the rationale behind the request for S-2 zoning had been explained adequately. Whet protected the City and the neighborhood was the approval of a specific plan which the S-2 does provide. HOUSING & REDEVELOPMENT AUTHORITY MEETING, JANUARY 9, 1986 PAGF 7 Mr. Nesset stated they were asking for S-2 because they want approval of the site plan, but also it was their intent not to modify or limit any of the uses under C-3 that wouldn't he allowed as nart of the development agreement; for example, they do intend to apply for a liquor license for the hotel and the restaurant. They do agree with the future controls as proposed in the memo, but he would like to make one clarification. They are agreeing to all the height limitations except they would like to be allowed to increase one building on the northeast corner of the property from two-story to three-story. They feel that would be considered a reasonable change and would not have to go through the Planning Commission and City Council. Mr. Nesset stated the stipulations stipulate that the facade materials should be approved as a condition of the rezoning (#5 under the stipulations) . They do not believe that should be a condition of the reznninn, because at the time of rezoning. thew would not be in a position to be locked into the facade plan. They do agree it should be a condition on the building permit. Mr. Newman stated that regarding the proposed height change. there was a problem and that concerned the acquisition of the parcel where this building was proposed to be located. He appreciated the concerns of the developer, but in attempting to renegotiate with the current pronertv owner, he would sungest the developer not alter his plans at this time. Mr. Qureshi stated that unless there was a strong need to change the plan at this time, he would reconmend they leave the plans as they are. It would probably not be too difficult to make this chance later once some of the other structures are built and the area is landscaped. Mr. Corners stated that since they have already adopted the plan, plus the fact that there were legal issues arising regarding acquisition, he thought this height change could be resolved in the future. He, too, did not think any changes should be made at this time. Mr. Robinson stated the intent of the stipulations were that they would all be approved before the first building permit was issued. He stated they could eliminate the stipulation regarding the facade material plan (#5) fron the rezoning. Mr. Qureshi stated the use of a liquor establishment was an allowed use in C-3, and it would seem reasonable to make a provision that this not be excluded from the rezoning. MOTION BY MS. SCHNABEL, SECONDED BY MR. PRAIRIE, TO RECOMMEND TO PLANNING • COIf"ISSION AND CITY COUNCIL THE APPROVAL OF S-2 ZONINW FOR LAKE POINTE CORPORATE CENTER WITH THE FOLLOWING TWO AMENDMENTS: 1. APPROPRIATE LANGUAGE RE INSERTFD THAT THE S-2 ZONING NOT EXCLUDE A LIQUOR LICENSE REQUEST FOR THE HOTEL AND THE RESTAURANT. 2. ELIMINATE FIFTH STIPULATION: "ARCHITECTURAL FACADE MATERIAL PLAN INCL►IDIN' RAMPS" UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMER.c DECLARED THE MOTION CARRIED UNANIMOUSLY. ti HOUSING b REDFVELOPr1ENT AUTHORITY MFETIN G, JANUARY 9, 1986 PAGE 8 6. LEGAL REOUIREMENTS FOR RELOCATION EXPENSES FOR TENANTS AT 5747 CENTRAL AVF. N.E.: Mr. Qureshi stated that in answer to the HRA's questions regarding whether the HRA was required to provide relocation expenses to renters or tenants, Staff had provided the HRA with infornation showing that by law the HRA was required to pay relocation expenses. Ms. Schnabel stated she appreciated all this information, and she saw the HRA had no choice but to pay these expenses, but she felt it was an incredible "rip-off". Mr. Qureshi stated action needed by the HRA was to authorize Staff to pay the relocation expenses to the tenant. Ms. Schnabel asked if there were xeroxed copies of the rental checks to Rake sure this was a legitimate rent tenant. fir. Robinson stated he would insist that those be part of the claim when it is filed. Mr. Conners stated that was a very good suggestion to make sure this was a legitimate sub-tenant that has been payinn rent for a year. 'Maybe the HRA should wit to approve the relocation expenses until they see the formal written claim. MOTION BY IfR. PRAIRIE, SECONDED BY MS SCHNABEL, TO TABLE. THIS ITEM UNTIL A FORMAL WRITTEN CLAI'f IS FILED. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON CON fLRS DECLARED THE MOTION CARRIED UNANIMOUSLY. Ir. Conners stated Mr. Jack Bagley, their Relocation Consultant, should certainly be aware of all these things. 'is. Schnabel stated another question she had was if the lower level where the tenant was living fell under the zoning ordinance as a legal apartment, does it meet fire code, etc.? Mr. Commers stated that if this was not a legal residence, it was questionable whether rent could legally he charged, and whether the NRA was liable to pay relocation expenses. Mr. Newman suggested that these questions be submitted to Mr. Bayley for a formal opinion. The Commissioners agreed with Mr. Newman's suggestion. 7. EXECUTION OF QUIT CLAIM DEED ON LOT 6, BLOCK, 1, FRIDLEY PLAZA ADDITIO!t: MOTION BY MR. PRAIRIE, SECONDED BY MS. SCHNABEL, TO AUTHORIZE THE EXECUTION Or THE QUIT CLAIM DEED ON LOT 6, BLOCK 1, FRIDLEY PLAZA ADDITION. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON CO'?MERS DECLARED THE MOTION CARRIED UNANIMOUSLY. HOUSING 8 REDEVELORIENT AUTHORITY MEETING, JANUARY 9, 1986 RP( F 9 • 8. CHCCK. REGISTER: MOTION BY MS. SCHNABEL, SECONDED BY MR. PRAIRIE, TO ADPROvE THF CHECK REGISTL'R AS PRESENTED. UPON A VOICE VOTE, ALL VOTING AYE, CHAIRPERSON COMMERS DECLARED THE MOTION CARRIED UNANIMOUSLY. ADJOURNMENT: MOTION BY HS. SCHNABEL, SECONDED BY MR. PRAIRIE, TO ADJOURN THF. MEETING. UPON A VOICE 'COTE, ALL VOTING AYE, CHAIRPERSON CO'fHERS DECLARED THE JAN. 9, 1986, HOUSING 6 REDEVELOP:!EN'_ AUTHORITY MEETING ADJOURNED AT 9:50 P.M. Respectfully submitted, Lynn Saba A'ke' Recording Secretary i 9-4-te_4(414 iv- Zz.c.(,-17)-yit_z.,:c.e azi-Aert- a 9., --) . 9, / 9,?. : &, a(-..dam.... , 1 i7414: 05(74 /zee a!ee‘At",„P ...,, , ,,;), 797c elk lA 11A) f r, rcf -d_ _,. i W:ti---;--- Z-1 Zee—4-.- ..c,v_.,,y-' "rc.,-ta--t - S ,4.-,. /1„L ,-..,..fit— A' , , S ,t_1",24,/...%'% : .1y. � .�� /'j �1 4. • r:".'''''. 6-'1'. �;,�-'1'. ,..T L ) i CI . 'sY ? a� 3K, , 1 ,I ::k 1:; , ,q�fyx Fri »=�'Y�' ( !J1A�`';- i 4' fed '� t�F ' V , .,,,,,.. .,..,. . . ,, ., ''''-:- . ' ' -,,,,,,'' . ,,, . ..,-.,,„, - -... , ARS , : N, . , . .,;.‘,,,, .._,,,,,, ,,,,,,,.,2„.,,,,,,,...c ,,-., :„,.... , 11. . .,..-:-..,..,.. ,.,„ . . ,., .„ .... ,„,„., . . , , ,, , ,,,..,,,,_ :,,,.. .. , ,,.. .., , ,,,,,.. , . ,,,,,..,. .‘„ . „„ , .„ ,,.. , ,,,,,,,, , ., ,, ,. ,..„. . ,, ,,.. ,„., . . ,„. , :, , ;,„„ N GRA + ` PPRECI -, OR a HE n SERVI .£ MEMB ; �� HOUS �; �� : ' f m ` � REDE NT A Y , s � ,.c., . ..,'•',,r,,,.., , =� JUNE. NOVE 's ,, AWQr �x1 �#a ' -ry 73 1 , - % ,,i. uy. �'�; v _ 2 2626 East 82nd Street,Suite 101 • Bloomington, MN 55420•(612)854-5525 antage Companies Minneapolis Division January 31, 1986 Mr. Nasim M. Qureshi City Manager Civic Center 6431 University Avenue Northeast Fridley, Minnesota 55432 Dear Mr. Qureshi : During our recent meeting with Jim Robinson and John Flora we were informed to request by writing that the Fridley HRA consider a request for financial assistance by the Vantage Companies. Our request is a result of the uncovering of the greater than antici- pated extensive soil corrections that are required at the site. The magnitude of the soil corrections together with the purchase price of the land, exceeds the market value of the land. Vantage Companies would desire to work with the city in an expeditious as possible manner to assure the on-going viability of the project. When completed, the project will result in the creation of over 200 jobs, with over S7,000,000 in shell improvements. I have given Mr. Robinson a complete set of soil boring tests, a con- tour map and a summary estimate of the costs of soil corrections for the entire sight currently being considered for re-zoning. We desire to meet and discuss this situation with you as soon as possible and to be placed on the next HRA meeting agenda. I will call you within the next few days to arrange a meeting. If in the meantime you have any questions, please don't hesitate to call . Sincerely, VANTAGE PROPERTIES, INC. Kelly J. Doran Marketing Representative Minneapolis Division • cc: Matt Nicoll Vantage David Molda Vantage Bruce Watson Vantage Dale Beckman BRW, Inc. Jim Robinson City of Fridley 2A VANTAGE COMPANIES SITE CORRECTION & IMPROVEMENTS FRIDLEY SITE - UNIVERSITY AVE. & 81ST AVE. The following detail breakdown accounts for the estimated cost to prepare and improve the 22 (plus) acre site west of University Avenue and north of 81st Avenue. Because the existing water table level on the site is so high, dewatering of the site area will be necessary during the removal of the undesirable soils ( peat and silts) and the placement of the granular fill in its place. It has been the strong recommendation by our Soils Testing Consultant , Twin City Testing, and our Site Consultant, BRW, Inc. , that filling thru standing water should not be considered. Also because of the high water table , the elevations of the building pads will have to be raised above the present site elevations. The breakdown below takes into consideration only the removal of' the existing undesirable soils and the re-fill with compactible granular material to the same topographical elevation. The raising of the building pad elevations has not been considered as those elevations were not determined at the time of these calculations. These calculations are based on the information obtained from soil borings taken on the site previous to November 1984. The soil borings authorized and put down in January 1986 are still being evaluated. Preliminary review with Twin City Testing indicates that the improvement efforts at the new boring locations are similar and, therefore, be consistent or higher than the amounts listed below: DEWATERING OF SITE - Well points would be put down on the site to pull down the water table down on the site approximately 6 feet for the average elevation removal of the unsuitable soils. Additional dewatering will be necessary at specific locations where excavation exceeds this Sdepth and extends to as much as 16 to 18 feet. Cost 00 BUILDING AREA CORRECTION - In the building pad regions , excavation and removal of the undesirable soils in their entirety is essential . This takes into consideration the oversizing of the building pad area as recommended by the Testing and Engineering Consultant. The excavated area will be refilled with a compactible granular material . Estimated is removal of 57 ,000 cubic yards and the loose fill volume replacement of 74,100 cubic yards of granular compacted fill . Cost S 625,000 2B SITE CORRECTION & IMPROVEMENTS PAGE 2 PARKING LOT AREA CORRECTION - Removal of undesirable soil in this area will be to a depth of approximately 3 feet below the final sub-grade base of the asphalt paving section. This procedure should allow the bridging of the remainder of any unsuitable soils below. A geotextile fabric will also be installed at the bottom of this excavation prior to refilling the area with the clean granular fill . The fabric is intended to keep the different soil conditions separated from each other . Estimated removal is 80,000 cubic yards and the loose volume refill of 104,000 cubic yards. This takes into account a 30% compaction volume loss. Certain amount of this fill material is estimated to come from the N . E . corner of the 6site . Cost of Excavation and Fill S 100,000 80,000 Geotextile Fabric SUB-TOTAL OF ALL COSTS TO THIS POINT $1,465,000 EXTRA PRELIMINARY PRICING For the purposes of establishing a building pad elevation on which to effectively construct above the water table level and to give the proper parking lot drainage to the site , a pad elevation f 870 was established. Using this elevation, it was determined that an additional 42,000 cubic yards of fill would be required to be imported and compactted2Cost 4O,OOO Also because of the necessity to handle and retain site drainage according to the City requirements an approximate 11 to 2 acre retainage$pond area would have to be constructed. Cost TOTAL COST OF THE PROJECT IMPROVEMENTS (Estimated) 51,750,000 • I . r' . . ; . OrJi^ t N.b } C) • e lisk • •e ••F I- ' r- 7 g..- 44.,fir -: r - _ e i ,%. _ •,,. ,1 1t___ f, 1 0 A .. ,.1 ... •••. itpkt,ii, 2 , 'f- . tie, r F• Si ' + ~ I S . .� " 2 J s s IS F . t •1 r� L . 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L.F.,•4 ‘;`,'is,\I„ ii,:' ,.,,, '' 1 1: 11;' lis'',.:‘ft A; t)N,..4, ,,,,,,, ..z• ,, 1 .....-,,,i •. 1. - r -- ,19.•,,',.,9 . , ,. • 4,4 i 1 . , ..•,i .. .. -... . .. i . ,. :.,A.,!#-.7 " - - - , • ,..,.., , ' , •I 4 I i .. .. 4 ..... .40- • . 1 ... . , 4 1,1 . ..: ,•!,. ,.......... • , 1, 1 al ,/ • // , II .. i 1 , 'I i 1 .L. ..•' 4.;/ .17,!/4.4 1 i /i '••:417:!.1 I 1 I ''•' / !--• ..' L i' ,/ ' ele; I ‘‘,7**,;:•1 I I 1 : iii...••; - ,-,, 0 \.:..-1. 1 ' ...!"--•• ! - •• •- •' : i I /00'. r•7-'.0_t0./.'0______....IL__-_. .._.........-.___ . . _ . ', 4 Illsv I Avc NI 7 ..., . li • 3 1 ®J PLANNING DIVISION CITY OF MEMORANDUM FRJDLEY MEMO TO: Nasim Qureshi-, City Manager MEMO FROM: Jim Robinson, Planning Coordinator Vc, MEMO DATE: January 24, 1986 REGARDING: Relocation Benefits for 5747 Central Avenue N.E. At the suggestion of the Housing & Redevelopment Authority I had our Housing staff person inspect the acquisition property at 5747 Central Avenue N.E. to determine if the co-tenant in the basement was a legal tenant. We discovered that the bedroom which he occupies is not legal in that the window is over four feet from the floor. In addition there is a separate kitchen which is prohibited in the zoning code definition of guest room. I informed the relocation consultant of these discrepancies and asked him to respond. His evaluation is attached. Apparently these technical violations are not grounds for denying relocation assistance eligibility. 11r. Bagley has been informed that all claims will require Housing & Redevelop- ment review. JLR/dm -- M-86-16 411 d4; ,. ,.„'„n. " :.o. `:,"" `",�;,'» f, '�':w''*F`4."i�u '."�C .r?as^.=,� . {a,�a%,t.- . .36-t .'r. x. ti'X'r -•.. .'4 w'06, ••, ,•'^.�'k" t 'g`-a-+n'r.i' ,.yet"., �- a u __ - - -- �x !'�'• `� ,.fir.;�:; ;>�, .•a..� JACK BAGLEY FEDERAL STATE RELOCATION CONSULTANTS January 13, 1986 Mr. James Robinson, Planning Coordinator City of Fridley 6431 University Avenue, N.E. Fridley, Minnesota 55432 Re: Peter Rukes 5747 Central Avenue N.E. Legal Occupancy Dear Jim: Persuant to our conversation this morning regarding the referenced individual and the status of his occupancy I contacted the area office of Housing and Urban Development . My contact there is Ms. Louise Gerber , Relocation and Acquisition Specialist. I explained the occupancy situation at the referenced address and the lack of compliance with certain codes and zoning ordinances . She called the Central Office of H.U.D. in Washington, D. C. , and got the following response: (which concurrs with my statement to you) Lawfully occupied , as per 42 . 451 means a legal occupancy. NOT a squatter or trespasser. Technical violations of occupancy codes in the acquired dwelling are not grounds for denying eligibility for relocation assistance . The condition of the dwelling or the fact that it does not meet code is not a factor relating to eligibility for relocation benefits. More often than not people are relocated from sub standard dwellings. The central office also advised her that the prime tenant could be eligible for a Business Relocation Claim (the same as the owner) . This has not been discussed with the prime tenants . Providing the referenced tenant supplies me with rental payment documents or affadavit it appears he' ll be eligable for a rental adjustment payment of $4 , 000. 00 and a fixed payment for moving expenses in the amount of $450. 00, total payment $4 ,450.00. Sincerely, Ja ag1ey Re ocation Consultant JB: ld 299 N. SNELLING AVE. ST. PAUL, MN 55104 (612) 645-9171 3B RESIDENTIAL COMMERCIAL INDUSTRIAL FEDERAL - STATE RELOCATION CONSULTING SERVICE INC. 299 North Snelling Avenue St. Paul. Minnesota 55104 Phone. Arra ('ode - 612-645-73229. 645.9171 January 30, 1986 Mr . James Robinson, Planning Coordinator City of Fridley/Civic Center 6431 University Avenue, N. E. Fridley, Minnesota 55432 Re: Peter Rukes 5747 Central Avenue N.E. Dear Jim: Attached for your review and approval is the relocation claim of the referenced displacee. Payment is recommended in the amount ofS4 500. 00. Authorization for this payment is 42. 351 2. • 1 of the Uniform Relocation and Real Properties Acquisition Policies Act of 1970 and Minnesota State Statute 117. 52. The claimant has indicated that he would like to pick his check up at City Hall . He will call you on the 14th of February, 1986 to make arrangements. If you have any questions regarding this claim, please give me a call . Very truly yours, ilk • , - Ilk Bagley R- ocation Consultant • JB: ld Form Approval OMB No63R14683c U S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR AGENCY USE ONLY I CLAIM FOR MOVING COSTS AND RELATED NAME AND ADDRESS OF AGENCY ROJ`I AME.NUM aB HwyEXPENSES —- FAMILIES AND INDIVIDUALS HRA City of Fridley Improvements NE CASE NUMBER Ave.(HUD Regulations at 24 CFR Part 42) 6431 UniverstiyN/A Fridley, Mn. 55432 PRIVACY ACT NOTICE — You are asked to provide this information in order to determine whether you are eligible to receive moving costs and related ' expenses. You are not required by law to furnish this information,but if you do not provide it,you may not receive any payments for these expenses or it may take longer to pay you This information is being collected under the Authority of the Uniform Relocation Assistance and Real Property Acquisi- tion Policies Act of 1970 The in formation is reported to the displacing agency and may be made available to HUD. 1.YOUR NAMEIS) (Ynu are the Claimant(s)) IA.PRESENT MAILING ADDRESSIES)OF CLAIMANTS NUMBERPHONE 5747 Central Avenue NE 1 Peter Lind Rukes _ Fridley, Mn. 55432 571-5898 2.HAVE ALL MEMBERS OF THE HOUSEHOLD (If"No,"list the names of the members and all of MOVED TO THE SAME DWELLING? 0 Yes E CNo the addresses to which they moved in the Remarks Section) IHOW MANY WAS IT FURNISHED WHEN DID YOU ROOMS DID J WITH YOUR OWN DWELLING ADDRESS(Include Apartment No.) YOU OCCUPY? FURNITURE? MOVE THERE? (a) Ib) (c) Id) MOVEEFOID ROM70U 5747 Central Avenue NE ® Yes ❑ No Dec. ,1984 ____ _ _-____Fridley, Minnesota 55432_--_ -- ** 4.WHERE DID YOU 8835 Baltimore Street NE °Excluding bathrooms, ■ MOVE TO? hallways and closets. Iia Blaine Minnesota 6 IS THIS A FINAL CLAIM? t Vet 0 No (If"No,"explain in Remarks Section) 1 INSTRUCTIONS: This claim form is for the use of families and individuals applying for payment of moving and related expenses. You may apply for either (1) a "fixed payment" which includes a "dislocation allowance", or (2) an amount to cover the actual moving and related expenses incurred. A claim for actual expenses must be supported by attached receipts, vouchers, or similar evidence. The displacing agency will explain the differences between the two types of payments and, if you wish, will help you 1 complete this form. If the full amount of your claim is not approved,the displacing agency will provide you with a written explana- tion of the reason. If you are not satisfied with the displacing agency's determination, you may appeal that determination. The displacing agency will explain how to make an appeal. Costs which are paid for are listed on page 2 of this form. 6. COMPUTATION OF PAYMENT(Complete Item 6A or 69) 6A. FIXED PAYMENT CLAIM —1 6B. ACTUAL MOVING EXPENSES CLAIM ITEMAMOUNT FOR AGENCY AMOUNT FOR AGENCY USE ONLY USE ONLY f y 11) Moving Allowance(Consult Agency for amount) S 250.00 S 250. 00 i 121 Dislocation Allowance(Consult Agency for amount) 200.00 200. 00 (3) Moving Cost $ $ 14) Transportation Cost•Families and Individuals (5) Cost of Insurance Covering Move and/or Storage (6) Storage Cost (Complete Item 11 on page 2) 17) Other (Explain in Remarks Section) _ (Line(1)plus(2)1~ (Sum d Lues(3)th/u(7)) (8) Total Amount of Claim 450.00 450. 00 (9) Amount of Advance Payment(s)Received(If any) None None (101 Amount Claimed(Line (8)minus Line(9)) s 450.00 $ 450. 00 S S i7.CERTIFICATION BY CLAIMANTIS) WARNING: If you knowingly or deliberately make false statements on this form,you may be subject to civil or cr•minal penalties under Section 1001 of Title 18 of the United States Code. In addition you may not receive any of the amnunts claimed on this form. I CERTLFY that this claim and the information about the claim provided by me are true and complete. I further certify that I have not submitted any other I claim for the expenses listed nor have I been paid for the expenses listed by any other source and that the claim correctly shows my actual expenses. I ask that I be paid the amount on Line 10. My choice of fixed payment in 6A or actual moving expenses in 6B was based on the explanation by the agency Irepresentative of the difference between these ty s of payments. ati Z /(\7 I — -2 0 Sl12 I (Signature(s)of Claimant(s) (Dare) TO BE COMPLETED BY AGENCY 1 PAYMENT ACTION AMOUNT OF SIGNATURE NAME (Type or Print) DATE PAYMENT =- Jack Bagley 1/10/86 e Aecommended $450.00 �? 4'• iii" 9. V Approved $450. 00 Previous Edition is Obsolete Page 1 HUD-4000 19.791 111111 3D TO BE COMPLETED BY CLAIMANT(S) 10.METHOD OF PAYMENT (Check one)(Complete mit) if claim is for actual moving expenses) ❑ I (We) have paid the amount claimed on Line (10) of Item 6. Proof of this claim is shown on the attached itemized receipt(s) or bill(s),and I (we) therefore request that we receive payment for this amount. 0 I (We) have not paid the itemized bills which are attached and,in accordance with my (our)agreement with the contractor(s), I (we) request that the agency pay these bills directly to the contractor(s). 11 SUPPORTING DATA FOR STORAGE COSTS INSTRUCTIONS: Describe property stored in Remarks Section COMPUTATION OF STORAGE COSTS or attach list. IS THIS A FINAL CLAIM FOR STORAGE? ❑Yes 0 No ' ITEM AMOUNT FOR AGENCY USE ONLY DATE MOVED TO STORAGE GATE MOVED FROM STORAGE 1 MONTHLY RATE FOR STORAGE s S NAME AND ADDRESS OF STORAGE COMPANY NUMBER OF MONTHS IN STORAGE TOTAL STORAGE COSTS (Enter this amount on Line(61 of Item 66 of Claim Form) S S SHOULD PAYMENT BE MADE DIRECTLY AMOUNT PREVIOUSLY RECEIVED TO STORAGE COMPANY? ❑ Yes ❑NO (Include this amount in Lin.(91 of r, Item 66 of Claim Form) S S REMARKS(Add more sheets,if necessary) Steven Rukes and Robin Trombley Have not relocated at this time/date. C 1 ADDITIONAL INFORMATION MOVING AND RELATED EXPENSES MOVING AND RELATED EXPENSES WHICH ARE PAID FOR WHICH ARE NOT PAID FOR 1. Transportation of individuals, families and personal 1. Cost of moving buildings or other real property improvements property from the acquired site to the replacement site. in which the displaced person reserved ownership. Transportation costs for a distance beyond 50 miles are not eligible, unless the displacing agency determines that reloca- 2. Interest on a loan to cover moving expenses. tion beyond 50 miles is justified. 3. Personal injury. 2. Packing crating, uncrating and unpacking of personal property. 4. Cost of preparing the claim for moving and related ex- penses. 3. Necessary charges for the removal and hookup of appli- ances, equipment and other items, not acquired as real prop- 5. Expenses for searching for a replacement dwelling. erty. 4. Storage of the personal property,as determined necessary by the displacing agency. 5. Insurance of the personal property in connection with the move and necessary storage. Page 2 HU04000 1949) OMB No 63-R1468.JL U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR AGENCY USE ONLY NAME AND ADDRESS OF AGENCY PROJECT N EiNUMBER Cityof Fridley �Wy• �� & Central CLAIM FOR RENTAL ASSISTANCE PAYMENT � 1p ,Q,brllents 6431 University Ave. NI • (HUD Regulations of 24 CFR Part 42) Fridley, Mn. 55432 PRIVACY ACT NOTICE You we asked to provide this information on order to determine whether you are eligible to receive a rental assistance payment. You are not required by law to furnish this information,but if you do not provide it, you may not receive this payment or it may take longer to pay you. This information is being collected under the authority of the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970.The infor• R motion is reported to the disolaci^g agency and may be made available to HUO. GENERAL INSTRUCTIONS - This claim form is for the use of families and individuals applying fora rental assistance payment. The displacing agency re- presentative will help you complete the form and inform you of the information that you must provide in support of this claim. You may receive the pay- ment in a lump-sum amount. If you would prefer to have the payment made in installments,indicate your choice of frequency(monthly, yearly,etc.)in the Remarks Section. If the full amount of your claim is not approved, the displacing agency will provide you with a written explanation of the reason. If you are not satisfied with the displacing agency's determination, you may appeal that determination. The displacing agency will explain how to make an apnrval 1. YOUR NAME(S) (You are the Claimant(s)) 1A.PRESENT MAILING ADDRESSIES)OF CLAIMANT(S) 1B. TELEPHONE NUMBER(S) Peter Lind Rukes - 5747 Central Ave. NE -Fridley, Mn. 55432 571-5898 2. HAVE ALL MEMBERS OF THE HOUSEHOLD MOVED TO THE SAME DWELLING? 0 YES LINO(If"No,"list the names of the members and all of the addresses to which they moved in the Remarks Section) ADDRESS WHEN DID YOU WHEN DID YOU WHEN DID YOU MOVE DWELLING RENT THIS UNIT? MOVE TO THIS UNIT? OUT OF THIS UNIT? (a) (b) (c) (dl 3. UNIT THAT YOU 5747 Central Avenue NE Tentative MOVED FROM Fridley, Minnesota 55432 Dec. , 1984 date 2/1/86 4. UNIT THAT YOU 8835 Baltimore St. NE MOVED TO Blaine, Minnesota Jan. , 1986Feb. 1 ,1986 _ 5. COMPUTATION OF RENTAL ASSISTANCE PAYMENT INSTRUCTIONS: Complete Items 11 end 12 on the reverse side of the form before TO BE COMPLETED BY CLAIMANT FOR AGENCY completing this section.The displacing agency representative will help you. USE ONLY (1) Monthly Housing Cost for Replacement Dwelling Unit to which you moved S285. 00 S 285.00 (From Line(3),Column (c)Item 11) (2) Monthly Housing Cost for Comparable Replacement Dwelling. (From Line(3), S Column (el of Item 111(To be provided by Agency) 350. 0 0 - S 350. 00 (3) Enter the Lesser of Line(1)or(2) S 285. 00 $ 285. 00 i (4) Monthly Housing Cost for Dwelling Urit from which you were displaced SS _(From Line 131,Column fa)of Item 11/ 200. 00 200. 00 (5) Claimant's Ability-To-Pay (From Line(3), Column (a)of Item 12) S 362.71 S 362. 71 I16) Enter the Lesser of Line(4)or 15) S 200.00 S 200. 00 t (7) Monthly Need/Line(3)minus Line(61) S 85. 00 $ 85. 00 181 Amount on Line(7)Multiplied by 48 ___ J $ 4 ,080. 00 S 4 , 080. 00 19) Amount of Rental Assistance Claimed(Enter Amount on Line(8)or$4,000, S 4 ,000. 00 S 4 ,000. 00 whichever is less) (10) Amount of Advance Payment,if any s None s None 11 1) Amount Requested(Line(9)minus Line(101) s 4 , 000. 00 5 4 , 000. 00 1 6. CERTIFICATION BY CLAIMANT(S) WARNING: If you knowingly or deliberately make false statements on this form,you may be subject to civil or criminal penalties under Section 1001 of Title 18 of the United States Code.In addition you may not receive any of the amounts claimed on this form. 1 I CERTIFY that this claim and the information about the claim provided by me are true and complete. I further certify that I have not submitted any other claim for the expenses listed, that I have not been paid for the expenses listed by any other source,and that the claim correctly shows my actual expenses. It I ask that I be paid in the amount shown on Line(11)of Item 5 in❑one lump-sum❑installments(as specified in Remarks Section). My decision to rent a dwelling, rather buy dwelling, was based on a full explanation by the displacing agency representative of the difference between the types of payments available(renta al tanc or homeownersssis nee- I i 1 :Li L. JK , • (Signature(s)of LYaimanr(s)l (Date) TO BE COMPLETED BY AGENCY ___, 7. EFFECTIVE DATE OF NOTICE OF DISPLACEMENT-8. DATE REPLACEMENT DWELLING INSPECTED AND FOUND TO BE DECENT,SAFE AND SANITARY 10/18/85_ 1/10/86 t PAYMENT ACTION AMOUNT OF ___. SIGNATURE NAME/Type or Print) DATE 9.RECOMMENDEC PAYME$4 ,000.00 7.z.% J Jack Bagley 1/10/86 10.APPROVED $4,000.00 1 Previous Edition is Obsolete HUD-4002 19.79) tI 11. DETERMINATION OF CLAIMANT'S MONTHLY HOUSING COST(MHC) INSTRUCTIONS: The term "Monthly Housing Cost" meansMONTHLY b MONTHLY HOUSING MONTHLY HOUSING HOUSING the average monthly cost for rent and utility charges. Utility COST FOR DWELLING COST FOR REPLACE- COST FOR charges include reasonable costs to provide heat, hot water, FROM WHICH YOU MENT DWELLING TO COMPARABLE lighting, water and sewer, and trash removal. A person's WERE DISPLACED WHICH YOU MOVED REPLACEMENT Ii monthly housing cost for a replacement dwelling shall include DWELLINGTBE one-twelfth of the estimated reasonable yearly cost for utility FOR AGENCY FOR AGENCY� ROVIDED CLAIMANT USE ONLY CLAIMANT USE ONLY PP AGENCY charges. B- Ii (al (b) lc) (d) (e) r (1)Contract Rent $ 200. 00 $200. 00 $ 285. 00 $ 285. 00 $ 350 .00 II Ii. (2)Average Monthly Utility Charges Not Included in Contract Rent (List each item below(e.g.,pas,electricity,oil, water)ind list I! amounts incolumns(a)and(c11 Included Included Include::IncludedIncluded ■■ I! II Ii (3)Total Monthly Housing Cost (Sum of Line(1)plus all entries in Line2)) =200. 00 $200. 00 $ 285 . 00 111$ 285 . 00 $350 . 00 - 12. DETERMINATION OF CLAIMANT'S ABILITY-TO-PAY II (1)Gross Monthly Income of all Adult Members(18 years or older)of Household (List names listmounts In below andaFOR AGENCY Column(an CLAIMANT USE ONLY lal Ibl Ii Estimated at $15,000.00 per year $17,409.95$17,409.99 i t (2)Total Gross Monthly Income(Sum of entries in Line(111 1,450.8A $ 1,450.83 11 m t (3)Claimant's Ability-to-Pay Monthly Housing Cost (Amount $ 362 .71 $362 .71 REMARKS I Claimant is employed at Minnesota Marine Service, Inc. It is seasonal I employment at $8. 25/hour. He gets some overtime. He estimates his yearly income at $15,000. 00 which includes unemployment benefits. I Please see attached income verification from- Minnesota Department of Economic Security, which is verification of amount indicated in item I 12 (1) , (2) , & (3) above . 1 dtk. y;,„6 IJac Bagye Relocation / nI ltant Li I I HUDd002 19-79) 3G aDATE: January 28 , 1986 0 TO: The File FROM: Jack Bagley SUBJECT: Residential Relocation Claim Peter Lind Rukes 5747 Central Avenue N.E. (� Highway 65 & Central Improvement Project The subject displaced residential tenant is filing a relocation claim for payment of benefits in accordance with the provisions of the Uniform Relocation Assistance and Real Properties Acquisition Policies Act of 1970, and Minnesota Statute 117. 52 which incorporates the provisions of the Uniform Act effective on January 1, 1984 . The displaced tenant was provided with, and a receipt obtained for , a HUD Brochure describing the relocation payments for residential displacees , (See Exhibit C) in accordance with 42. 9 (c) and the payments and assistance available to the displacee were explained in detail by this consultant in a personal interview on January 6, 1986 and in accordance with the regulations (See Claim Appendix for 42. 96 (b) & (c) . The claimant is a tenant in occupancy for more than 90 days . They are occupants in housing acquired by a State Agency for a project . As a (� result of this acquisition the tenant becomes a Displaced Person �1 (described below in 42 . 49 (a) (1) & (2) ) (See Relocation Claim Appendix) who is eligible for certain relocation benefits in (� accordance with the provisions of the Uniform Relocation Assistance �1 and Real Property Acquisition Policies Act of 1970 (42 U.S.C. 4601 et . seq) effective September 26, 1979. These benefits are currently in effect and are applicable for Minnesota Statute 117. 52. Thclaimant also meets the definition of a person described at 47'211. 5c 2. 75. (See Relocation Claim Appendix) . A Displaced Person is described in Paragraph 42. 49. The claimant qualifies as a displaced person because they have moved from the real 11: 1 property as a result of the Housing and Redevelopment Authorities (hereinafter HRA) of the City of Fridley, Minnesota offer to acquire the building and their receipt by registered letter of a Notice of Displacement. (See Exhibit B and C) . Notice of Displacement. If a person moves or moves his personal y property on or after the effective date of a notice of displacement '1 issued to him as described at 42. 205 (a) or (b) , he is considered to have been displaced as a result of the State Agency' s acquisition and /1 to be a displaced person under these regulations. (See Claim Appendix for definition of 42. 205. The claimant has a Notice of Displacement sent on December 5, 1985. The effective date of the Notice is October O 18, 1985. iiEDERAL- STATE RELOCATION CONSULTING SERVICE 299 No.Snelling Ave. St. Paul. Minn. 55104 1612)645.7329 or 645-9171 iii 3H i iAs a displaced person the subject claimant became eligible for moving and related expenses as described in 42. 301 (a) (b) and 42. 351 . 1 42. 301 indicates that all displaced persons (defined at 42. 49) are eligible for moving and related expenses . They also become eligible, if they choose, for a Fixed Payment described in Paragraph 42. 351. I (See Claim Definitions for 42. 301 and 42. 351) . The Fixed Payment for Moving Expenses - Residential moves' for those 1 eligible under 42. 351 is described in 42. 353 (See Claim Appendix) . Instead of incurring actual expenses for the move of personal property the claimant elected to accept a fixed payment based upon a schedule prepared by the Federal Highway Administration, (see appendix) . The Claimant has elected to file a relocation claim for a fixed payment for moving expenses in accordance with 42. 351 . The schedule allows a payment of $300. 00 for 5 rooms which the claimant qualifies for . This amount plus a dislocation allowance of $200 . 00 based on I . 42. 353 (b) , provides for a total Fixed Payment for Moving Expenses in the amount of $500. 00 1 Payment in the Amount of $500. 00 is recommended . Claim form. A executed copy of the prescribed claim form, HUD-4000, I Claim for Moving Costs and Related Expenses -- Families and Individuals, is included in the claim. 1 The subject displaced tenant description 42. 451- also meets the eligibility criteria Replacement Housing Payments for tenants and certain others (See 1 Claim Appendix for Definition) . 42. 451 indicates that up to $4000. 00 may be paid to a displaced tenant for rental assistance computed in accordance with 42. 453 (See Claim Appendix) . One of the requirements Iis prior to the initiation of negotiations the claimant must have occupied the dwelling unit for a minimum of 90 days . The subject displaced tenant meets this eligibility criteria. They have been in 1 occupancy since December of 1984 , which is more than 90 days , they received the Notice of Displacement which was effective October 18, 1985. Therefore they meet the criteria of 42. 451. 1 Replacement Housing Payment for Rental Assistance described at 42. 453 (see claim appendix for definition) provides that a person who rents 1 the replacement dwelling and qualifies for a payment under 42. 451 is entitled to a payment not to exceed $4 , 000. 00 for rental assistance. It indicates that the payment shall be 48 times the amount , if any, 1 obtained by subtracting the base monthly housing cost for the acquired dwellng from the lesser of: 1 1. Monthly housing cost (Defined at 42. 67 in claim appendix) for a comparable replacement dwelling; or 1 2. The monthly housing cost for the decent , safe and sanitary replacement dwelling actually occupied by the displaced person. EDERAL - STATE RELOCATION CONSULTING SERVICE 299 No. Snelling Ave. St. Paul. Minn. 55104 16121 645-7329 or 645.917I i 3I IReplacement Dwelling The claimant has chosen a replacement dwelling located at 8835 Baltimore Street N. E. , Blaine, Minnesota . He will share the dwelling with its owners. He will pay rent of $285. 00. 00 per month which is inclusive of utilities . The replacement housing payment for this displacee is based on #2 above. (see Exhibit A-claiments letter confirming rent payments) . Replacement Housing Payment for Rental Assistance Computation (See claim form for detail ) 1 . Monthly Housing Cost Replacement Dwelling $ 285. 00 2. Monthly Housing Cost for Acquired Unit $ 200. 00 3. Monthly Need (difference between #2 above) $ 85. 00 A 4. Amount on line 3 multiplied by 48 or U $4 , 000. 00 whichever is less $4 , 000. 00 5. Amount of payment $4 , 000. 00 iThe above computation indicates a rental assistance payment is due the displacee in the amount of $4 , 000. 00. IReplacement Referrals were made to the subject displacee. However, he had made arrangements to relocate to his replacement choice prior to my contact with him. It was therefore not necessary to persue the referrals. 0 D. S. S. Inspection of the replacement location was done January 10, 1986 and found to be acceptable. The inspection report is contained in Exhibit E. 0 Income Verification The claimant income his been verified by Minnesota Department of Economic Security. The document contained in Exhibit G substantiates the information . The claimant submitted as documentation copies of checks and their bank cancellations to further support his occupancy as a sub tenant (see Exhibit C) . aIncluded in Exhibit C is a copy of the communication between the City of Fridley and the Relocation Consultant. This documentation contains the information obtained by the Relocation Consultant , at the city 's request, and to confirm the consultants recommendation to the city. , 1 Summary of Recommended Relocation Payment 1. Fixed payment-moving expense $300. 00 2. Dislocation Allowance 200. 00 3. Total Fixed Payment $500. 00 4. Rental Adjustment Payment $4 , 000. 00 Total Relocation Payment (sum of 3 & 4 above) $4, 500. 00 1 !FEDERAL - STATE RELOCATION CONSULTING SERVICE 299 No.Snelling Ave. St.Paul.Minn. 55104 1612)645-7329 or 645.9171 3J 11 Payment in the amount of $4 , 500.00 is recommended. Authorization for this payment is the Uniform Relocation and Real Properties Acquisition Policies Act of 1970 and Minnesota Statute 117. 52. Prepared By: aJ Bagley R I cation Consultant • a a a a a a a II '■ I Ii I EUERAL - STATE RELOCATION CONSULTING SERVICE 299 No.Snelling Ave. St. Paul. Minn. 55104 1612)6457329 or 645.9171 4 MEMO TO: NASIM QURESHI , CITY MANAGER FROM: RICK PRIBYL, FINANCE DIRECTOR REGARDING: COSTS ASSOCIATED WITH THE $5,600,000 CAPITAL APPRECIATION BOND SOLD TO WOODBRIDGE PROPERTIES AND THE SUBSEQUENT 100 TWIN LAND PURCHASE. THE FOLLOWING IS A REVIEW OF THE COSTS ASSOCIATED WITH THE SALE OF THE CAPITAL APPRECIATION BONDS AND THE SUBSEQUENT PURCHASE OF THE 100 TWIN PROPERTY BY THE FRIDLEY HRA. IN REVIEWING THESE COSTS ONE MUST REMEMBER THAT TWO ACTIVITIES HAVE TAKEN PLACE IN ONE APPARENT TRANSACTION. THESE COSTS ARE A SUMMARY FROM THE STATEMENT OF CLOSING AND FURTHER INFORMATION CAN BE DRAWN FROM THAT DOCUMENT. THE LETTER FROM DAVID F . NEWMAN IS ALSO ATTACHED THAT FURTHER CLARIFIES THE COMPONENTS ON THE TRANSACTIONS. BOND PROCEEDS $5,600,000. 00 PERCENTAGI OF TOTAL EXPENSES: 1 . MILLER & SCHROEDER FINANCILS, INC. -THIS COST REPRESENTS THE CHARGE FOR FISCAL CONSULTANT $84,056. 74 0. 015010 2. O `CONNOR & HANNON-THIS COST REPRESENTED THE COST FOR BOND COUNSEL. $17,750. 00 0. 00:169 3. HERRICK & NEWMAN-THIS REPRESENTS A TRUST SET UP FOR COSTS INCURRED BY WOODBRIDGE BUT NOT PAID AT TIME OF CLOSING (PER AGREEMENT) . *22,500. 00 0. 004017 4. BENSON, MALKERSON, BRADBURY-THIS IS THE LISTING SERVICE FOR THE SALE OF THE LAND. $110,000. 00 0. 019642 5. LAKE POINTE INVESTMENT CO. -LAND ACQUISITION COSTS 30416. 06 0. 00543 1 6. LAKE POINTE INVESTMENT CO. -REIMBURSEMENT OF EARNEST MONEY PUT ON 100-TWIN PROPERTY BY $73,940. 00 0. 01320: WOODBRIDGE. 7. LAKE POINTE INVESTMENT CO. -REIMBURSEMENT OF SPECIAL ASSESSMENTS PAID BY WOODBRIDGE. $1 ,516. 68 0. 000270 COST AND SERVICES FOR BOND ISSUE AND LAND PURCHASE $740, 179. 08 0. 060746 8. TITLE INSURANCE CO. -THIS IS THE COST OF THE LAND. $5,0.35,922. 66 0. 899271 4A BALANCE PID TO FRIDLEY HOUSING AND REDEVELOPMENT AUTHORITY. REIMBURSEMENT FOR WOODBR I DGE EXPENSES $223,898. 26 0. 0:9981 22 REIMBURSEMENT FROM TITLE CO. X468. $3,862. 80 TOTAL HRA PROCEEDS $228,2:9. 28 1 4B MEMO TO: NASIM QURESHI , CITY MANAGER MEMO FROM: RICK PRIBYL, FINANCE DIRECTOR REGARDING: COSTS ASSOCIATED WITH THE *11 ,550,000 VARIABLE RATE GENERAL OBLIGATION TAX INCREMENT BOND ISSUE. THE FOLLOWING IS A EXPALANATION OF THE ISSUANCE OF THE #11 ,55G �O VARTHE COSTS ASSOCIATED WITH OBLIGATION TAX INCREMENT BOND. IABLE RATE DEMAND GENERAL BOND PROCEEDS EXPENSES OF ISSUANCE $11 ,550,000 - PERCENTAGt OF TOTAL 1 . NATIONAL AUSTRALIA BANK LIMITED ESTABLISHMENT FEE-THIS COST RELATES - --- TO THE SET UP OF THE LINE OF CREDIT NEEDED FOR THE BONDS. FACILITY FEE-THIS IS THE SAME AS *14,813.27 0. 001282 THE LIQUIDITY FEE FOR BACKING ANY BONDS THAT ARE PUT AND DIFFICULT TO REMARKET. THIS IS AN ANNUAL FEE THAT IS USUALLY AROUND 39 BASIS POINTS OF THE OUTSTANDING PRINCIPAL. FOREIGN COUNSEL FEE-THIS IS A ONE *45,057. 03 0. 003901 TIME FEE THAT THE BANK CHARGES FOR ITS LEGAL COUNSEL TO REVEIW THE FINAL BOND DOCUMENTS. OTHER COSTS-THESE ARE OTHER #852. 50 0. 000073 MISCELLANEOUS COSTS SUCH AS COURIER, PUBLISHING AND OTHER COSTS. $344.50 0. 000029 2. KUTAK ROCK & CAMPBELL-THEY ARE THE DOMESTIC BOND COUNSEL FOR THE BANK OF AUSTRALIA. #26,775. 00 0. 002318 O'CONNOR & HANNON BOND COUNCIL COSTS MISC. COSTS #25,000. 00 0. 002164 • HOLMES & GRAVEN-UNDERWRITERS COUNCIL *1 ,500.00 0. 000129 FIRST NATIONAL BANK OF ST. PAUL-SET UP FEE FOR #2+000.00 0.000173 BOND DOCUMENTS. THIS IS A ONE TIME FEE AND #14,437.50 0. 00125 4C USUALLY IS AROUND 13 BASIS POINTS. 6. FIRST TRUST OF ST. PAUL-THIS IS THE TRUSTEE FEE. THIS WAS A BID PRICE AND LOWEST BIDDER WAS ACCEPTE $6,666.25 0.000577 7. J. HENRY SCHROEDER BANK & TRUST COMPANY-THIS IS THE TRUSTEES NEW YORK TENDER AGENT, SINCE ALL BOND ACTIVITY MUST FLOW THROUGH A NEW BANK. THIS IS AN ANNUAL FLAT FEE. #3,000. 00 0. 000259 8. FITCH INVESTORS SERVICE, INC.-THIS IS FOR THE TEMPORARY RATING FEE FOR THE BONDS. THE BONDS WILL $1 ,000.00 0. 000086 BE PERMENTLY RATED BY MOODYS SOMETIME IN MARCH. 9. AMERICAN FINANCIAL PRINTING-THIS WAS FOR THE BOND PRINTING COSTS. 11 ,045.00 0.000090 10. MILLER & SCHROEDER FINANCIAL, INC.-THIS IS THE DISCOUNT ON THE BONDS FOR THE UNDER WRITING SERVICE. THE DISCOUNT IN THE MARKET PLACE IS 1% ON VARIABLE $115,500. 00 0. 01 RATE BONDS. TOTAL COST OF ISSUANCE $257,991. 05 0. 022336 NET PROCEEDS 111 ,292,008. 95 THE NET PROCEEDS AT THIS TIME ARE BEING HELD IN TRUST BY MANUFACTURERS HANOVER UNTIL A PERMANENT BOND RATING IS RENDERED BY MOODY 'S RATING SERVICE. A TEMPORARY RATING WAS DONE BY FITCH INVESTORS SERVICE TO FACILITATE THE ISSUANCE OF THE BONDS BEFORE YEAR END. MOODYS WAS BACKLOGGED 4 MONTHS BECAUSE OF ALL THE BONDS GOING OUT BEFORE YEAR-END. THE COSTS SHOWN ABOVE WERE COMPARED WITH OTHER VENDORS IN THE MARKETPLACE AND WERE COMPARABLE. THE CORPORATE SECTOR HAD TO BE USED FOR THE COMPARISON SINCE VERY FEW VARIABLE RATE BONDS HAVE BEEN ISSUED IN THE GOVERNMENTAL SECTOR. THE CITY OF FRIDLEY IS ONE OF THE FEW CITIES THAT CAN ENJOY THE BENEFITS OF THE LOWER INTEREST RATES WITH THIS TYPE OF BOND. IF WE HAD CHOSEN TO SELL THESE BONDS IN THE FORM OF FIXED RATE GENERAL OBLIGATION BONDS THE UNDERWRITING COSTS ALONE WOULD HAVE AVERAGED SOMEWHERE AROUND 2.5 TO 2. 75 PERCENT PLUS THE OTHER MISCELLANEOUS COSTS. WE HAVE SAVED MONEY ON BOTH THE ISSUANCE COSTS AND THE DEBT SERVICE COST OF THE ISSUE. ATTACHED YOU WILL FIND THE ACTUAL INVOICES THAT WE RECIEVED FOR THE ABOVE EXPENSES. National Auslraliat Bank 4D National Australia 1100 aamond Sharrock Tower Telephcn( (2(4!754 7077 Dallas Representative Moe Bank larrvted 717 Ncrth Harwood Street Fammil€ (214;754 0071 Dallas Texas 75201 Telex 3787617 December 30, 1985 First Trust Company, Inc. First National Bank Building 332 Minnesota Street St. Paul, MN 55101 as Trustee under the Indenture of Trust dated' as of December 1, 1985 with City of Fridley, Minnesota Attention: Corporate Trust Department 43, 100,000 City of Fridley, Minnesota Variable Rate Demand General Obligation Improvement Bonds Series 1985 INVOICE Establishment Fee $ 3 ,985. 94 Facility Fee 12, 123 . 90 Foreign Counsel Fees 852. 50 Costs and Expenses 92. 64 Total $ 17 ,054 . 98 $11,550,000 City of Fridley, Minnesota Variable Rate Demand General Obligation Tax Increment Bonds Series 1985 INVOICE Establishment Fee $ 14,813.27 Facility Fee 45,057.03 Foreign Counsel Fees 852. 50 Costs and Expenses 344. 50 Total $ 61 ,067. 30 Grand Total 78 ,122. 28 Wire Transfer To Citibank, N.A. 111 Wall Street New York, New York 10043 A/C National Australia Bank #36049009 Attn: Credit Administration cc: T. E. Barrett 4E KUTAK ROCK & CAMPBELL A PA. .IP INCLUDING P OF[$SIONAL COI1►OAATIONS THE OMAHA ®WILDING 1650 FARNAM STREET OMAHA,NEBRASKA 68102 (402) 346-6000 December 30 , 1985 • First Trust Company, Inc. as Trustee First National Bank Building 332 Minnesota Street St . Paul , MN 55101 $11 ,500 ,000 . City of Fridley, Minnesota Variable Rate Demand General Obligation Tax Increment Bonds Series 1985 Legal fees incurred as counsel to National Australia Bank Limited in connection with preparation, review and revision of Letter of Credit No.CLC19 , Reimbursement Agreement, Custody, Pledge and Security Agreement and Enforceability Opinion for the above-captioned financing; attendance at pre-closing and closing in Minneapolis, Minnesota on December 28 , 29 and 30 , 1985; numerous telephone conferences and correspondence relating to the above; and disbursements incurred therein. $26177500 4F IM ACCOuti1 wt114 O' CONNOR 6 MANNAN ATTORNEYS AT LAW 3800 ID S TOwER 00 SOUTH [1(,MTM STREET MINNEAPOLIS,MINNESOTA 35402 i City of Fridley 6431 University Avenue N.E. Fridley, MN 55432 Re: $11 ,500,000 Variable Rate Demand General Obligation Tax Increment Bonds, Series 1985, of the City of Fridley, Minnesota FOR ALL LEGAL SERVICES rendered in connection with the issuance and sale of the above-mentioned Bonds, including consultations with City Officials and the financial advisor to the City with respect to the Bonds, preparation of Trust Indenture, Tender Agent Agreement, Bond Resolution, and the closing documents for the Bonds, review of and consultations with attorneys for the Bank on the Letter of Credit, the Reimbursement Agreement, and the Custody, Pledge and Security Agreement, preparation of forms of the Bonds, coordination of the execution of the various agreements and certificates, attendance at City Council meetings, assembly and review of the transcript for the Bonds, scheduling and the coordination of the closing on the Bonds, and issuance of approving legal opinion as bond counsel thereon. FEES $25,000.00 DISBURSEMENTS 1 , 500.00 TOTAL AMOUNT DUE $26 ,500.00 4G HOI.MES & GRAVEN Att(trnesat Law CHAR RED 11\It s S Hitl\If\ 4-0 Pdi.hun ('enter.\Lnncrptil. \t r.nc..•ta 55.10: I)1\III R \t I at♦ 1)11:1.1. (04\\1\ I •tl\K I \Rat\ M::?,.11-- B\RR Nit\I PI'K1Nt to ( li\RI I%It \\1 \\IR RoRI RI J 1)I IAI KttKIRtL 1)\1n,\i,\ _yRt`,. At\RA •\ I 1\It(•KI\ Kt,Rl RI J 11\mil rthwe.tern I rnrnrul(-enicr.Il'tn,min1t,n. \imnc.tHj 5V11 I \I K 1 K Mom ! I 11,11\M I IFI%Rf JR HRII I •\ Kull\ I ARK 1 At NI K I HIM 1,1,7 N9?-941•11 SII"\RI I) (IR!lot. J bH%( I')11) ('11KLII\1 \I ('H\II \1 S1+\It1KIM \R1(, I)t1KKI\♦ 1„\,1'1.\\ BRI \ \1\K11 \111P S(ott December 30, 1985 sit\t\ 1 Ht1I vol11 JIONR BR Al(1111 P\1RI1I\ \ Bi 1.l Ht(•Ituft TIM111111 PFt AH1R1) T I\Ittl III \i\K\ S I iI l I�\ F \.G AI t 1 i / I-KR A Stwit I City of Fridley 6431 University Avenue NE Fridley, Minnesota 55432 For professional services re: City of Fridley, Anoka County, Minnesota $3,100,000 Variable Rate Demand General Obligation Improvement Bonds, Series 1985 and $11,550,000 Variable Rate Demand General Obligation Tax Increment Bonds, Series 1985 File No.: ML 140-238 Invoice No. 851274 Please make check payable to Holmes & Graven, Chartered For professional legal services rendered in connection with City of Fridley, Anoka County, Minnesota $3,100,000 Variable Rate Demand General Obligation Improvement Bonds, Series 1985 and $11,550,000 Variable Rate Demand General Obligation Tax Increment Bonds, Series 1985, including: review of law; preparation of Official Statement, Bond Purchase and Remarketing Agreement; conferences, correspondence and telephone conversations with the various parties involved in connection therewith, and attendance at closing. Underwriter's Counsel Fee $ 3,500.00 DISBURSEMENTS: . . . . .00 TOTAL AMOUNT NOW DUE AND OWING $ 3,500.00 iiH FIF:ST BAN=, SA::;- PAUL 27-Dec-8S Member Fret Bank =ystct THE FIRST NAT:.:,NAL BANK OF SA.NT PAUL M:nr.e:= _o S=: eet Saint Paul . r_rre _ s S51C11 Return duplicate invoice CITY OF FR:I' EY witremittance to/ t.':c• 4_ _ UNIVERSITY AVEti__ NE attention of: FRIPLEY. MN. 5S43= A. G. Vagstad. V. P. A-TN : RICHA _• D. PF.':?YL. ACTING Investment t ent Department F:NAN._E DIRECTOR Description Amount SET UP FEE ON 53. 100.000 VARIABLE RATE DEMAND G 0 IMPROVEMENT BONDS AND 511 .550.000 VARIABLE RATE DEMAND G 0 TAX INCREMENT BONDS AMOUNT 53, 100,000 FEE 0.1250% 53,875.00 AMOUNT 511 .550.000 FEE 0. 1250% 514,437.60 TOTAL 518,312.50 IJJFirst Trust Saint Paul 4I • Mempe,Firs?Bank System First Trust Company of Saint Paul First National Bank Building Saint Paul.Minnesota 55101 Name of Account Fridley V a r Rate Tax Incr Bds Ser 1985 To City of Fridley No. 833130 Attn: City Manager City Hall 6431 University Avenue NE Fridley, MN 55432 . Date: December 27 19 85 Initial Fee includes examination and approval by the Trustee of the Indenture; all supporting documents; delivery of Indenture; delivery of bonds and setting up required records First $1 ,000,000 $1 ,000.00 Next $4,000,000 @ $800/million 3, 200.00 Next $5,000,000 @ $400/million 2,000.00 Next $1 ,550,000 @ $300/million 465.00 Registration and authentication of certificates 1 certificate issued @ $1 .25 each 1 .25 TOTAL AMOUNT DUE $6,666. 25 FTC 77(R. 1184 Federal IRS Corporate 4J FITCH Tax No 13-2575355 January 6, t9S6 INVESTORS SERVICE, INC. 5 HANOVER SQUARE • NEW YORK, N.Y. 10004 212/668-6300 r Mr. James Lasserly ., Vice President Miller t Schroeder Financial Inc. 7900 Xerxes Avenue South Minneapolis, Minnesota 55431 -' 86 138 • For Research and Analysis to provide a FITCH Quality Rating for: CITY OF FRiDLEY, MINNESOTA $3,100,003 Variable Rate Demand General Obligation Improvement Bonds Series 1985 $11 ,550,000 Variable Rate Demand General Obligation Tax increment Bonds Series 1985 $2,000.00 h Rated: "AA" (provisional) - Please remit in U.S. Funds. Please return pink duplicate copy with check. 651 Taft Street Northeast Invoice No.: 512 0 5 Minneapoiis,Minnesota 55413 (612)378-0711 4K AMERICAN FINANCIAL PRINTING INCORPORATED r CITY OF FRIDLEY invoice Date: DECEMBER 30, 1985 , C/O MILLER S SCHROEDER FINANCIAL, INC. P.O. Number. Salesperson. 2400 NORTHWESTERN FINANCIAL CENTER 7900 XERXES AVENUE SOUTH BLOOMINGTON, MN 55431 TERMS: NET 30DAYS-I► %PER MONTH • SERVICE CHARGE AUES THEREAFTER (_ ATTN: PHYLLIS SLATTERY 18XANNUAL INTFAESTRATE Re: CITY OF FRIDLEY VARIABLE RATE DEMAND GENERAL OBLIGATION TAX INCREMENT BOND, SERIES 1985 TYPESET, PRINT AND NUMBER 2772 BONDS PLUS SPECIMENS. • I Subtotal $1, 045 . 00 MN 6% Sales Tax PostageiShapp ng Costs Advanced Sales Tax Exempt No.: GOVERNMENT SUBDIVISION invoke Total S 1,0 4 S_Il 0 REMIT TO: 651 Taft Street Northeast,Minneapolis, Minnesota 55413 y Toll Free �itnne.+ta(SX)$02.tx. i T ll Free Other States(N\') t.S41.7. Miller &Schroeder Financial, Inc. Northwestern Financial Center•79X'Xerxes Avenue South•CO. Bo' 7:0•Nltnneap.+it.. Minnesota 55411 (OM ti11-1500 December 27, 1985 City of Fridley 6431 University Avenue- NE Fridley, MN 55432 Attn: Mr. Nasim M. Qureshi City of Fridley, Minnesota $3,100,000 General Obligation Improvement Variable Rate Demand Bonds, Series 1985 Discount for Bond Issue: $31,000.00 City of Fridley, Minnesota $11 ,550,000 General Obligation Tax Increment Variable Rate Demand Bonds, Series 1985 Discount for Bond Issue: $115,000.00 (J.R. Casserly) • hkaJ,ryartm.M nnrapnh•.Minnesota Brandt+(Wm, SolanaBrait.laloomu•Santa Monk a.laIi..mu•NortN'nok.Illint• •St Paul.Minne•oa•Tanaha..rc.Fkmia•MiMaukrc, t.,on•m Nene•.•a Pwar.t.w♦..p••i••. 5 RESOLUTION NO. HRA -1986 RESCLUTION DESIGNATING OFFICIAL DEPC?SITORIES FOR THE FRIDLEY HOUSING AND REDEVELOMIR T AUTHORITY IT IS HEREBY RESOLVED that the Fridley State Bank is hereby designated as a depository for the funds of this corporation. IT IS FURTHER RESCLVED that checks, drafts or other withdrawal orders issued aganist the funds of this corporation on deposit with said bank shall be signed by two of the folowing: Finance Director City Manager Assistant Finance Officer and that said bank is hereby fully authorized to pay and charge to the account of this corporation any checks, drafts, or other withdrawal orders. BE IT FURTHER RESCLVED that all transactions, if any, relating to deposits, withdrawals, re-discounts and borrowings by or on behalf of this corporation with said bank prior to the adoption of this resoltuion be, and the same hereby are, in all things ratified, approved and confirmed. BE IT FURTHER RESOLVED that any bank or savings and loan may be used as depositories for investment purposes so long as the investments comply with authorized investments as set forth in minnesota Statutes. BE IT FURTHER RESCLVED that the signatures of two of the folling named City employees are required for withdrawal of HRA investment funds from savings and loan associations: Finance Director City Manager Assitant Finance Officer BE IT FURTHER RESOLVED that any brokerage firm may be used as a depository for invesment purposes so long as the investments comply with the authorized investments as set forth in Minnesota Statutes. PASSED AND ADOPTED BY THE HCTJSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF FRIDLEY THIS DAY OF , 1986. LAWRENCE R ODMMERS - CHAIRMAN ATTEST: • NAS IM M. QURESHI - DIRECTOR 6 HERRICK & NEWMAN. P.A. v.wG•L Cd.twwCa wTTOwhEvf AT LA* E.2'uwrvEm,UTY AVE..VE r E 040,0 P *.E...dAN FRIDLEY.MINNESOTA SS432 Made,[ $C..rLCAPt►tw 571.3850 February 28, 1986 Jim Robinson City of Fridley Fridley Civic Center 6431 University Avenue, N.E. Fridley, MN 55432 RE: 100 Twin Dear Jim: Enclosed you will find a copy of the letter which I have recently sent to Eric Nesset. I believe this is pretty much self explanatory and I would ask you to place this on the next agenda for the H.R.A. Enclsosed you will also find three executed copies of the agreement between the H.R.A. and the Johnsons. If this agreement meets with the approval of the H.R.A. it will be necessary to obtain the Director' s signature . Upon the return of the executed copies of Lake Pointe' s agreement to me, I will also forward these to you for the signature of the H.R.A. Sincerely yours, David P. Newman DPN:KLS Enclosures cc : Nasim Qureshi GA HERRICK & NEWMAN. P.A. viwG .CM[wwCa wrrOwN[r><AT LAW W'uNIV[wSIh wv[..u[ w R DA..D► N[..wAN FRIDLEY.MINNESOTA SS432 NMI I[ tC....[Ca►t►tw 571.3050 February 28 , 1986 Eric Nesset WOODBRIDGE PROPERTIES 320 Woodbridge Plaza - 10201 Wayzata Boulevard Minnetonka, MN 55343 RE: Lake Pointe Investment Dear Eric: Pursuant to your earlier request I have obtained the written authorization from the Johnson' s for soil boring on their property. Enclosed you will find a copy of the agreement which they have executed together with a copy of their agreement be- tween Lake Pointe and the Fridley H.R.A. If the terms of this agreement meet with your approval , I would ask that you execute the original and two copies of this document and have them returned to me. You will note that the H.R.A. has not yet signed either of these agreements . These will be presented to the H.R.A. for their approval at their next regular meeting . Consequently, you are not authorized to commence the borings until which time that I have received from you the executed documents and the H.R.A. has given its formal approval . Once the for- mal approval has been obtained, I will so advise you. Thank you for your cooperation in this matter. Sincerely, David P. Newman DPN:KLD Enclosures cc: Nasim Qureshi Jim Robinson 6D AGREEMENT THIS AGREEMENT is made by the undersigned in recognition of the condemnation by the Fridley Housing and Redevelopment Authority (HRA) of Lot 5, Block 5 and Outlot 1 , Block 1, Donnay' s Lakeview Manor Addition, Anoka County, Minnesota ( "Property" ) owned by Norma B. and Gerald G. Johnson ( "Johnson 's" ) . This Agreement is needed in order that the HRA may proceed with obtaining soil samples for a proposed development that will include the property. In entering into this agreement the HRA has been advised that the Johnson ' s are represented by Ford W. Crouch, Esq. , and that he has been authorized to enter into this agreement and to bind them to its terms as their Attorney at Law. The HRA may authorize and through its agents and designees undertake soil borings upon the property. All costs, permits , or conditions otherwise necessary or incurred in connection with conducting the soil borings and obtaining soil samples shall be the responsibility of the HRA, or their designee and at no cost to the Johnson's. The Johnson' s make no warrants or guarantees as to the existence, the location, or condition of any utility ser- vices anywhere within the property. The indentification of the existence or location of such utility services shall be the sole responsibility of the HRA. If any utility services are in any way damaged by the soil borings authorized herein or the work related thereto, the HRA shall be liable for all cost required to repair such utility services and for any damages to Johnson' s resulting from the interruption of such utility service. Immediately after the soil borings are completed, any holes shall be refilled below grade in accor- dance with industry standards . The HRA shall be responsible for any costs if this refilling or repair work is not pro- perly accomplished. At the conclusion of this work, the HRA shall provide at no cost to the Johnson' s, copies of all test results and reports. The HRA shall indemnify and hold Johnson ' s harmless for any costs or damages , including mechanics liens or any injury to persons or property, resulting from any action taken by the HRA, or their designee pursuant to the terms of this agreement . GERALD G. JOHNSON and NORMVO. JOHNSON Dated: -- • -••• or :. BY/� (/_:t (C • Ford W. Crouch, Attorney at Law THE HOUSING AND REDEVELOPMENT AUTHORITY Dated: BY Its Director 7 CLAIMS • 1453 - 1464 02-13-86 CHECK REGISTER PAGE 1 FRIDLEY STATE BANK - HRA 0 DESCRIPTION VENDOR INV. # AMOUNT ltQfi` (It;�1 , 1453 ***CHECK PREPAID*** NATIONAL CITY BANK OF MINNEAPOLIS $ / 339,675. 21 BOND PAYMENT 1454 ***CHECK PREPAID*** FIRST BANK MINNEAPOLIS 84 . 75 BOND PAYMENT FEES 1455 ***CHECK PREPAID*** FIRST NATIONAL BANK OF CHICAGO 26 . 50 SERVICES RENDERED 1456 ***CHECK PREPAID*** PASCHKE PROPERTIES 33 ,000. 00 SOIL CORRECTION 1457 ***CHECK PREPAID*** HERRICK & NEWMAN 4 , 860. 66 HRA&GENERAL OBLIGATION TAX INC. BONDS 1458 ***CHECK PREPAID*** COLUMBIA PARK PROPERTIES 10, 000. 00 OPTION AGREEMENT 1459 ***CHECK PREPAID*** CURTIS LARSOt 350. 00 APPRAISAL SERVICES 1460 ***CHECK PREPAID*** FED-STATE RELOCATION CONSULTING SERVICE 1 , 200. 00 NOVEMBER RELOCATION SERVICE 02-13-86 CHECK REGISTER PAGE 2 FRIDLEY STATE BANK - HRA DESCRIPTION VENDOR INV. # AMOUNT 1461 ***CHECK PREPAID*** FRIDLEY CITY OF 15, 747. 90 REIMBURSEMENT COSTS 1462 ***CHECK PREPAID*** FRIDLEY CITY OF 380. 00 REIMBURSEMENT FOR HERRICK & NEWMAN CHARGES 1463 ***CHECK PREPAID*** FIRST NATIONAL BANK OF ST. PAUL 1 , 305. 31 REMARKETING AGREEMENT DATED 12-30-85 1464 ***CHECK PREPAID*** SHORT-ELLIOTT-HENDERICKSON 1 ,008. 98 CENTRAL AVE/HWY 65 ROADWAY REDESIGN 1465 ***VOID CHECK*** 1466 ***CHECK PREPAID*** GERALD W. PASCHKE 13 , 500. 00 SOIL CORRECTION 1467 ***CHECK PREPAID*** FRIDLEY STATE BANK 117,600. 00 INVESTMENT 1468 ***CHECK PREPAID*** FED-STATE RELOCATION CONSULTING SERVICE 1,260. 00 DEC. & JAN. RELOCATION SERVICE ***TOTAL AMOUNT*** $ 539.999. 31 ga PLANNING DIVISION cIn,OF MEMORANDUM FRIDLEY MEMO TO: Nasim Qureshi, City Manager MEMO FROM: James Robinson, Planning Coordinator MEMO DATE: March 7, 1986 Mr. Gary Pierce stopped in today to discuss the sale of his property on Old Central. Mr. Pierce's letter of request is attached. I informed him that the Housing & Redevelopment Authority does not have an active acquisition program for this area. Mr. Pierce would like the Housing & Redevelopment Authority to purchase his property for $45,000. The property is directly adjacent to the Saliterman property and is roughly 45,600 square feet in area and is zoned R-1. A map of this area is included. The assessed value of the property is $21 ,000 and there are $1 , 950. 34 of special assessments on the property. As a comparison you will recall that the Weitnauer lot, at 6391 Central, which the Housing & Redevelopment Authority purchased last April for $14,000 was roughly $. 85 a square foot. The Pierce property at $45,000 is $. 98 a square foot, if purchased for $. 85 this lot would cost $38,760. Please advise as to how you would like me to respond to Mr. Pierce. JLR/dm M-86-43 Attach. P;s.PI-ra c-cg. /\/. C C. )17G f�•��Ci y r-- S;rs. V\/t �� r � r U rs 14 Y c .c p A u d i r-J b U i v hf 1 ? C i c 7-Y C4- l/ r r cr;CI y iv/ es c, tic �s r 7. (72,S— C C/ 1 C l o s-/S,t rl r � � 4 Go Cr i ' < 1:' Y�, j 1/373 i38.5 v 1,/403 � ��_ 0. � �L.t f.I s-iii , �r- -r � d 43gs„, 9 88 ppo A� 2 .. g4TH AVE. N Al, fr .... 4 _ .1s �. [• '=HE I� yin 11 0 ° C311 '° • ' 37 z 1394 /400 I4z, 6379 6414 . 3OZ • { 400 .r. !7'� 600 (3�' (""V 4.- 2-2 6 `t 1134 / //� 6370 a t ADA -P., Ri...4...-„. , r .:.latopi5-44 W i ; // , ! / OW 1 �G 331 �y ci 6395. r r v r- jr)..� A•A -1 k„,,,....;:.,,I;(:. : 43:511°4 1 �: �sZ . 3 6330 1'~ •t;, -11 ' X633 f (,345' :�� (/'c' 1,6 t� tT v /800) ; GsH> A(�i�q� t , ,..- � • Or' % TERRACE - � � Gels • ; J a�r,� i LI t o • I 4 �� . i5 1 6300 , N _; '' O /27/ +; ' ` r /420 1329 4 r „ ./S♦O Y�/h•• ,;e ,, e315 Mfr! 'ifN `I3/S ,u,2 - .� '' - 8.t _ , _ RICE CREEK ROAD , ,,. '.;�; w 4 T • • -'IPA 0 . • ;•y 1.�.� 6241 17 ' ;• 13'10 !40 0 it.z O• �,,� f, % cz93 '2M 4 . � i / +�12 +i •• Jr, !,. 2 :r • . i ` 1 ... •) ' 7.-,..4-75-44 I I .... „, 4. .4„ • , w r. • i p . 1 -...,..-d r.•• :. •-. 1 ••• I ,0 • A, .„ cip ' • • *:-70, 1• .. r_ i• [I� �'~ 6 AUD• 00949 .• ` ���0' �.; 1 19 4) : `(tae; 5 $, 1,1- • 111k • •,/ L. _ ,,.. _ > 20 SUB. . ..,,, itt i -At el: (z��.;) < HEATHER P CE °L • -- ftr�EA S C `��4 , , 4 ( V i (.157v y *s /400 611 .14 • ,of POrr� L 7 I + f ��1 •e W?6 Lr1r / i �6 33 u31 zoo•i--_,-... -.rV // ANN50 50 �O ..- (IlI.S 5 6 �o bl32 : OS `� �5 . . , 1 woocm L.A. s a'' s �/ n,; 14,,,, _ J • a ' •• LAKE •_'`i✓/ I ,2 IGl/� `, . �w , r. Y.. _ h_ i•ILOgs NO. 2 ,r � . .5 , � 3 i , •/ s 8 • 42$ ' _ 351 ....till-- t-_ -max : ; . . _ _z�. • ?„____..... 1 , Hwa HERRICK & NEWMAN. P.A. VIRGIL C.HERRICK 6279 UNIVERSITY AVENUE N.E. DAVID P.NEWMAN ATTORNEYS AT LAW FRIDLEY.MINNESOTA 55432 JAMES E.SCHMECKPEPER 571-3850 February 10, 1986 Ford V. Crouch STRONG, TULLY , TULLY & CROUCH, LTD. 600 Norwest Midland Building Minneapolis, MN 55401 RE : Gerald G. Johnson Dear Mr . Crouch: I am writing to confirm our conversations on the above matter. Based upon your desire for an evidentiary hearing in this matter, the original hearing has been scheduled for 9 : 00 a .m. on Wednesday, March 12, 1986, at the Anoka County Courthouse. It is my understanding that this matter is going to be set on the court trial calendar and is number 3 on the calendar for that day. Sincerely yours, David P. Newman DPN :kls cc : Nasim Qureshi /AL1- L. i -' ;) v HERRICK & NEWMAN. P.A. VIRGIL C.HERRICK 6279 UNIVERSITY AVENUE N.F. DAVID P.NEWMAN ATTORNEYS AT LAW FRIDLEY.MINNESOTA 55432 JAMES E.SCHMECKPEPER 571-3850 February 13 , 1986 Mr. Gustav A. Doty 6401 University Avenue Northeast Fridley, MN 55432 RE: The Housing and Redevelopment Authority in and for the City of Fridley vs. Fridley Plaza Office Partnership et al Dear Mr. Doty: Enclosed herein and served upon you by first class mail you will find a copy of the Summons and Complaint regarding the above matter. Please read the enclosed Notice and Acknowledgement of Service by Mail and respond accordingly. For your convenience a self-addressed stamped envelope is being provided to you for your use. Sincerely yours, DPN:JJH David P. Newman Enclosures cc: Mr. Nasim M. Qureshi (Copy-Summons and Complaint) _Alia. 51°1- is i11- .11 ro A Oil ,�ooR. Wf, ApIDoL- 4 STATE OF MINNESOTA DISTRICT COURT COUNTY OF ANOKA TENTH JUDICIAL DISTRICT The Housing and Redevelopment Authority in and for the City of Fridley, Plaintiff, vs. SUMMONS Fridley Plaza Office Building Partnership, a Minnesota General Partnership, and its Partners, Leonard T. Juster, Henry H. Feikema, Ronald L. Haskvitz, Alvin S. Malmon, Carl J. Newquist, John M. Giblin, Gustav A. Doty, Thomas Larkin, Gerald Caputa, Barbara Aune, Jamas Black and Mark Haggerty, Defendants . THE STATE OF MINNESOTA TO THE ABOVE-NAMED DEFENDANTS: You, and each of you, are hereby summoned and required to serve upon plaintiff' s attorney an answer to the Complaint, which is herewith served upon you, within 20 days after service of this Summons upon you, exclusive of the day of service. If you fail to do so, judgment by default will be taken against you for the relief demanded in the Complaint. Dated this 13th day of February, 1986 . HERRICK & NEWMAN, P.A. Attorneys for Plaintiff 6279 University Avenue Northeast Fridley, Minnesota 55432 Phon : ( 1 ) 571-3850 By: David . Newman Attorney Reg. No. 78827 HERRICK&NEWMAN.P.A. ATTORNEYS AT LAW 6279 UNIVEKSITY AVENUE.N E. FRIOLEY.MINNESOTA 55432 STATE OF MINNESOTA DISTRICT COURT COUNTY OF ANOKA TENTH JUDICIAL DISTRICT The Housing and Redevelopment Authority in and for the City of Fridley, Plaintiff, vs. COMPLAINT Fridley Plaza Office Building Partnership, a Minnesota General Partnership, and its Partners, Leonard T. Juster, Henry H. Feikema, Ronald L. Haskvitz, Alvin S. Malmon, Carl J. Newquist, John M. Giblin, Gustav A. Doty, Thomas Larkin, Gerald Caputa, Barbara Aune, James Black and Mark Haggerty, Defendants. Plaintiff, for its cause of action, herein states and alleges as follows: I . That on or about August 30 , 1982 the predecessor Partnership to the defendant, Fridley Plaza Office Building Partnership, was formed . On September 28, 1982 the Articles of the Partnership were amended to change the name of the Partnership to the Fridley Plaza Office Building Partnership, and to include all of the defendant individuals as general partners in this Partnership. HERRICK&NEWMAN.P.A. ATTORNEYS AT LAW 62,9.:1.•VERSITY AVENUE.N E. FRIOLEY.MINNESOTA 55432 II . That on September 28, 1982 a Contract for Private Redevelopment was entered into by the plaintiff and defendant Partnership. Incorporated in this Contract for Private Redevelopment was Schedule G, "Letter of Agreement" , a copy of which is attached hereto and incorporated herein as though set forth in full, which Schedule was also dated September 28 , 1982 and executed by defendant Haggerty on behalf of the defendant Partnership. III. That under the provisions of Paragraph 3 of Schedule G, the defendants provided to the plaintiff an option to purchase certain real property located within the City of Fridley, which option expired on February 1, 1986 . Said Schedule G further provided that in the event that the plaintiff did not exercise the option, then the defendants were obligated to pay to the plaintiff the sum of $90 ,000 . 00 plus accrued interest at 10% per annum from the date of execution of the Agreement. This total sum was to be payable by the defendants to the plaintiff on February 1, 1986 . IV. That at its regularly scheduled meeting of January 9 , 1986 the plaintiff formerly took action in which it elected not to exercise the above described option. The defendants were informed of the plaintiff' s action by certified mail on January 22, 1986. MERRICK&NEWMAN,P.A. ATTORNEYS AT LAW *27*UNIVERSITY AVENUE.N E. FRIDLEY.MINNESOTA 55432 V. That although the plaintiff has demanded the payment of the same, the defendants have refused and continue to refuse to pay to the plaintiff the sum of $90,000.00 together with interest at 10% per annum from September 28, 1982 . VI. That each of the defendants are jointly and severally indebted to the plaintiff for the sum of $90 ,000 .00 together with interest at 10% per annum from September 28, 1982 . WHEREFORE, plaintiff prays for judgment, both jointly and severally, against each and all of the defendants for tha sum of $90,000 .00, together with interest at 10% per annum from September 28 , 1982, together with its costs , attorneys feed and expenses incurred herein. Dated this 13th day of February, 1986 . HERRICK & NEWMAN, P.A. Attorneys for Plaintiff 6279 University Avenue Northeast Fri ley, innesota 55432 Pho : ( .2 ) 571-3850 Y� B � i David . Newman Attorney Reg. No. 78827 MERRICK&NEWMAN.P.A. ATTORNEYS AT LAW 9279 UNIVERSITY AVENUE.N.E. FRIDLEY.MINNESOTA 55432 8G • •Wri R Ce itcauarzffr This Agreement, Dated as of this .2814%, day of Seple.A5er", 1982, by and between the Housing and Redevelopment Authority in and for the City of Fridley (hereinafter called the 'Agency') and Fridley Plaza Office Building Partnership (hereinafter called the 'Redeveloper') Witnesseth, that WHEREAS, on or before the date hereof the Agency and the Redeveloper have entered into a 'Contract for Private Redeveopment' regarding certain real property located in the Center City Redevelopment Project in the City of Fridley, pursuant to which the Authority is to acquire certain property as conditioned said 'Contract for Private Redevelopment' (hereinafter referred to as 'the Contract'). MCAS, it is conte-plated that pursuant to said 'Contract' the Redeveloper will construct an office -Wilding containing approximately 35,000 square feet upon the redevelop-lent property. PIN, THEREFORE, the parties to this agreement, in consideration of the praxises, convenants and agreerents made by each to the other , do hereby agree as follors: 1. That the MIA agrees to purchase the Madsen Building legally described as: All of Lot 20 and South 23.7 feet of Lot 21, Block 3, Rees' Addition along with West one half of vacated alley in said Block 3 which adjoins said Lot 20 and South 23.6 feet of Lot 21, also following described parcel starting at center of vacated alley in Block 3 at a point represented by an extension of South line of said Lot 20, Block 3 , then easterly for distance of 30 feet, then northerly at right angles for a distance of 30 feet, then westerly parallel to extended South line of said Lot 20 for a distance of 30 feet to centerline of said vacated alley, then southerly a distance of 30 feet to point of begining and there terminated. All of said parcel being a point of East one half of vacated alley and Lot 7, Block 3, Rees' Addition to Fridley Park. Ibis purchase would be for $115,614.00. The Redeveloper would continue to raster lease the property from the Agency for $560.00 per month until such time as the Redeveloper shall be located in the 35,000 square feet Office building being developed by the Redeveloper on the Redevelopment Property. The Redeveloper will take full responsibility for the operation and maintenance of the property with no liability to the Agency. In addition, the Redeveloper shall provide to the Agency written waivers of relocation frau all subleases being held by the Redeveloper waivi the Agency's obligation to relocate under the laws of the • State of Minnesota. In return, the Agency shall provide $19,386.00 in relocation assistance to the Redeveloper to assist in the Redeveloper's obligation to the subleases. 2. The Agency shall pay to the Redeveloper up to 190,000 of the Industrial Revenue Bond cost of issuance and the underwiters discount for their plat rat. The Redeveloper shall, in writing, subraitt proof of said cost to the Agency prior to said payment. 3. The Redeveloper shall give to the Agency for one dollar and other good and valuable consideration the option to purchase the following described real property= The North 100 feet of South 259 feet of North 1,507.5 feet of West one half of West one half of East one half of $outhwest one quarter of Section 14-30-24 being a part of Lots 2_and 3 of Auditor's Subdivision 159-except the part taken for road. The option shall continue until February 1, 1986. If the Agency exercises saw op ion on or before February 1, 1986, the Agency shall to the Redeveloper the sun of F1o,000 plus any unpaid property pay VVV taxes as of the date of purchase. If the Agency does not exercise said option, the Redeveloper shall pay to the Agen the sum upto f'9C,000 plus the accrued interest at I0 peroen per annum as condition $n paragraph 2 of this Agreerent on February 1, 1986. The Agency shall notifyin writing its intent to exercise or not exercise its option Mi in ys of that action. 4. The Agency would o x cnCe the construction of a 'plaza' in 1983 (which size and scope to be determined by the Agency) to be located irr diately to the west of the developers proposed office building. As a rrinim;n, the RRA shall sod and plant as per the Fridley City Code. S. The Agency shall do all of the outside development on the Redeveloper 's property and would assess the total costs of irrprovelts to the 'Redevelopment Property' over a minimum of 10 years. 6. The Agency shall pay all costs associated with the relocation of64th Avenue NE including the construction of the street, curbing, gute drainage and utilities as well as the removal of any street, curbing and gutter on the Redevelopment Property in preparation of said property for development. 7. It a nts, toodti aLestrrictioneed that shis andAprovvisionsreement sof�an agreement ect to the covenants, conditions, e and Redeveloper on the entered into between the Agency , identified as as'Contract the 'Agree'�ent')Private and that theRedeveloper (hereinafter referred to shall not convey the subject Property, or any part thereof, without the consent of the Agency until a certificate of completion releasing the Redeveloper from the obligations of said Agreement as to said Property or such part thereof then to be conveyed, has been placed of record. This provision, however, shall in no way prevent the Redeveloper from mortgaging said Property in order to obtain funds for the purchase of Property hereby conveyed and for erecting improvements thereon in conformity with the Agreement, any applicable redeveloprent plan and applicable provisions of the Zoning Ordinance of the City of Fridley, Minnesota. It is specifically agreed that the Redeveloper shall promptly begin and diligently .prosecute to completion the redevelopment of the Property through the construction of the improvements thereon, as provided in the Agreement. Promptly after oorpletion of the improvements in accordance with the provisions of the Agreement, the Agency will furnish the Redeveloper with an appropriate instriment so certifying. Such certification by the Agency shall be (and it shall be so provided in the certification itself) a conclusive determination of satisfaction and termination of the agreements and covenants of the Agreement with respect to the obligation of the Redeveloper and its successors and assigns, to construct the improvements and the dates for the beginning and completion thereof. Such certification and such determination shall not constitute evidence of compliance with or satisfaction of any obligation of the Redeveloper to any holder of a mortgage, or any insurer of a mortgage, securing money loaned to finance the purchase of the Property hereby conveyed or the improvements, or any part thereof. All certifications provided for herein shall be in such form as will enable then to be recorded with the County Recorder or Registrar of Titles, Anoka County, Minnesota. If the Agency shall refuse or fail to provide any such certification in accordance with the provisions of the Agreement and this Agreerent, the Agency shall, within thirty (30) days after written request by the Redeveloper, provide the Redeveloper with a written statement indicating in adequate detail in what respects the Redeveloper has failed to complete the improvements in accordance with the provisions of the Agreement or is otherwise in default, and what measures or acts will be necessary, in the opinion of the Agency, for the Redeveloper to take or perform in order to obtain such certification. 8. In the event the Redeveloper herein (or any successor or assign) shall, prior to the recording of the certificate of completion hereinabove referred to: (a) Subject to any unavoidable delay, as defined in the Agreement, default in or violate its obligations with respect to the construction of the improvements provided for in this Agreement and the Agreement, or abandon or substantially suspend construction work, and any default or violation, abandonment or suspension shall not be aired, ended or remedied within thirty (30) days after written demand by the Agency to db so; or (b) Pail to pay real estate taxes or assessments on the Property or any part thereof when due, or shall place thereon any encumbrance • or lien unauthorized by the Agreerent with the Agency, or shall suffer any levy or attaduent to be made, or any materialmen's or mechanic's liens, or any other unauthorized encumbranoes or liens to attach, and such taxes or assessments shall not have been paid or the encumbrance or lien removed or discharged, or provisions satisfactory to the Agency made for such payments, removal or discharge, within thirty (30) days after written demand by the Agency to do so; provided, that if the Redeveloper shall first notify the Agency of its intention to do so, it may in good faith contest any mechanics' or other lien filed or established and in such event the Agency shall permit such mechanics' or other lien to remain undischarged and unsatisfied during the period of such contest and any appeal, but only if the Redeveloper provides the Agency with a bank letter of credit in the amount of the lien, in a form satisfactory to the Agency pursuant to which the bank will pay to the Agency the &mount of any lien in the event that the lien is finally determined to be valid and during the course of such contest Redeveloper shall keep the Agency informed respecting the status of such defense; or (c) Transfer, in violation of the Agreerent or this Agreerent, the Property or any part thereof, and such violation shall not be cured within sixty (60) days after written demand by the Agency to the Redeveloper; or (d) Default under the terms of a mortgage loan authorized by Article VII of the Agreerent and the mortgagee under such mortgage loan has axrenced exercising any reredy due to such default or has given notice of its intent to do so; then the Agency shall have the right to re-enter and take possession of the Property and to terminate and revest in the Agency the estate conveyed to the Redeveloper, its assigns or successors in interest, but subject to any mortgage authorized by Article VII of the Agreement and to the rights of the mortgagee thereunder pursuant to the Agreement. 9. The Redeveloper agrees for itself and its successors and assigns to or of the Property or any part thereof, that the Redeveloper and such successors and assigns shall: (a) Devote the Property to, and only to, office building and related uses; (b) Not discriminate on the basis of race, color, creed, national origin, or sex in the sale, lease, rental, or in the use or occupancy of the Property or any improvements erected or to be erected thereon, cc any pert thereof; (c) Not muse the Property to be removed from the public tax rolls or • to become exerpt from assessment for general real estate taxes by reason of any conveyance, lease, abatement, or other action so ' 4 long as the tax increment generated by the Property is pledged to the payment of principal of and interest due outstanding bonds or other obl i ga ti ons t and (d) Assume and comply with the provisions of Section 6.3 of the Agreement which provides in part that the Redeveloper shall not apply for or seek through administrative or judicial proceedings a rect,ction in the property tax below 672,986. 1 513, a0c) 10. It is understccd and agreed that the Redeveloper shall compensate the Agency for any costs incurred for the sale of Tax Increment General Obligation Bonds for this Project due to the failure of the Redeveloper to perform under this Contract. It is intended and agreed that the above and foregoing agreements and covenants shall be covenants running with the land, and that they shall, in any event, and without regard to technical classification or designation, legal or otherwise, and except only as otherwise specifically provided be binding, to the fullest extent permitted by law and equity for the benefit and in favor of, and enforceable by, the Agency its successors and assigns, and any successor in interest to the Property, oc any part thereof against the Redeveloper, its successors and assigns, and every successor in interest to the Property, or any pert thereof or any interest therein, and any party in possession or occupancy of the Property or any pert thereof. In amplification, and not in restriction of, the provisions of the preceeding section, it is intended and agreed that the Agency and its successors and assigns shall be deemed beneficiaries of the agreements and covenants provided herein, both for and in their wn right, and also for the purposes of protecting the interest of the ocrrunity and the other parties, public or private, in whose favor or for whose benefit these agreements and covenants have been provided. Such agreements and covenants shall run in favor of the Agency without regard to whether the Agency has at any time been, remains, or is an owner of any land or interest therein to, or favor of, which such agreements and covenants relate. the Agency e the right, in the event of any breach of such agreement or covenant to exercise all the rights and reredies, and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breach of agreement or covenant, to which it or any other beneficiaries of such agreement or oovenant may be entitled. 5 le...0:‘,0.rajf,4 Pow ....• .. n . i>. t i d I , 1 �a, •� t l �� , .• H at i a . - .4; . 1 ,i) 1. 4-. r a _ 40_, , . ... 4P",11 _,4 t:- ..... - ; . so ai 6450 ki • ' , " —" '-' • \ -4' J• I ; ' • yI , ;---. - -- ;4 —+ . 4 ���90 i ..)-1i a iv Ji• ° * , „kr en •»� � J• � C r� tom! ♦ �e-�-. : . ALICE � �• /--- i- '. 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