Minutes - Council - 07/26/1994 - Laserfiche WebLink

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Mr. Schroeder stated that the TIF portion is very similar to that of the last case discussed. It is proposed that the City receive a loan from the developer in the amount of SI/square foot of construction pet' year, over seven years, toward reimbursement of infrastructure and site work. The loan repayment would be over the term 1996 through the year 2002 upon receipt of all taxes, fees and charges of the City from the developer. At the level of 45,640 square feet completed in 1995, City revenues would exceed costs on this project in 1999. Mr. Schroeder exphtined that if the project builds out slower than a single phase, revenues and expenses would both be reduced. The break-even point may change slightly as well. He noted that the first annual reimbursement (1996) will exceed annual projected revenue in that year. All su[~sequent years will have the opposite result. He stated that the development agreement is worded as such. The agreement is also drafted such that the developer has a 1o~ o1' incentive to build out as much as he can; it's a pay as you go increment. Staff is proposing that the first reimbursement for site and infrastructure will be in 1996. The fi'om end o1' the project cost needs to be kept down so rent to the tenants will be kept low. Motion by Councihnember Peterson and seconded by Mayor Gilbertson to recommend approval of the proposed site phm for Dennis Sharp & Associates for Lot 1, Block 1, Ramsey 67 Industrial Park, contingent upon compliance with the City Staff review letter and entering inlo a Development Permit agreement with the City as approved by the City Attorney. Motion carried. Voting Yes: Mayor Gilbertson, Councilmembers Peterson, Beyer and Zimmemmn. Voting No: None. Abstain: Councilmemlx:rHardin. Case #14: Relmrl from Finance Committee Finance Officer 1-1art summarized the cases discussed at the Finance Comn'fittee. The 1995 budget process update ,,,,,its given. The Finance Committee chose the dates of Monday August 8, 1994, and Monday August 15, 1994, beginning at 5:30 p.m., to review the 1995 budget requests. Consensus ot' the Council was thttt these would be the dates for the session. The second case discussed by the Finance Committee was the contract with the Greater Anoka County I-lt~m~me Society for Animal Control Services. It was determined that this was basically the only rot,re to go for animal control and the Finance Committee recommended approval. Motion by Councilnaember Hardin and seconded by Mayor Gilbertson to approve the 1994-1995 Animal Corttrol Services contract with GACHS and authorize the City Administrator ~o sign lite (.:ontract. Motion carried. Voting Yes: Mayor Gilbertson, Counciln~embers Hardin, Beyer, Peterson and Zimmem-mn. Voting No: None. The Finance Commillee also discussed the 1995 Legal Services and recommended that the City shoukl enter inlo :t contract with Randall, Dehn and Goodrich. Motion by Councihnember Peterson and seconded by Councilmember Beyer to authorize the City Administrator to enter into a contract for general legal and prosecution services for 1995, 1996 and 1997 with the firm of Randall, Dehn and Goodrich. City Council/July 26, 1994 Page 25 of 27