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CASE <br /> <br /> REQUEST FOR AUTHORIZATION FOR EXECUTION OF <br />A DEVELOPMENT AGREEMENT WITH KNOLL PROPERTIES/ <br />ANDERSON & DAHLEN, INC. <br /> By: James E. Norman, City Administrator <br /> <br />Background: <br /> <br />The proposed TIF development agreement is with Knoll Properties/Anderson & Dahlen, <br />Inc., for construction of a facility which will be located in Energy Industrial Park as part <br />of Development District No. 1 and Tax Increment Finance District No. 6. The company <br />currently operates out of Coon Rapids and employs approximately 110 people and is <br />anticipating hiring an additional 40 to 50 new employees with the expansion in Ramsey's <br />Energy Park. Anderson & Dahlen, Inc. is a job shop, metal fabricating business serving <br />three primary markets; the factory automation industry, the packaging machinery <br />manufacturing industry, and custom equipment for food and pharmaceutical industries. <br /> <br />The Anderson & Dahlen Inc. facility will be an 84,000 square foot building with a <br />minimum estimated market value of $2,940,000. It is anticipated that the project will <br />generate approximately $76,000 in net increment per year toward the T~ District, which <br />will be used to pay for the $191,000 purchase of land from Connexus Energy. The TIF <br />District is scheduled to be completed in the year 2006. <br /> <br />The development agreement for this project is in excess of 30 pages. The City has <br />utilized a consistent and standard format except for the dollar amount specific to this <br />project. Any changes in language are passed through the City Attorney for his review. <br />Given the above, staff has attached the pertinent pages of the agreement for Council <br />review. As the Council is aware, other sections deal with indemnity, construction <br />documents prohibitions against assignments and transfer, and the agreements to pay <br />deficiencies. The entire agreement is available at Council request. <br /> <br />Council Action: <br /> <br />Motion to authorize execution of development agreement with Knoll <br />Properties/Anderson & Dahlen, Inc., contingent upon review by the City Attorney. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />City Attorney <br />Finance Officer <br />Economic Development Consultant <br /> <br />CC: 06/08/99 <br /> <br />BRA_FS I WOL l lusersUThielingl~dOlCOUNC1L& iCITYCO UNl1999LtunelKnollPropAndDahl. doc 06/04/99 <br /> <br /> <br />