05/03/12 - Laserfiche WebLink

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• Consider Development Agreement for Makowsky Family Farm, LLC Metes and Bounds Subdivision at 7040 173rd Ln NW; Case of Makowsky Family Farm, LLC • Authorization of Resolution #12- 05 -XXX Accepting Proposal on the Sale of $16,875,000 General Obligation Capital Improvement Plan Bonds, Series 20152A, Providing for Their Issuance and Levying a Tax for the Payment Thereof • Introduce Ordinance to Amend City Code Chapter 10 (Animals) Related to Keeping of Non - Domestic Animals on Parcels Less Than Three (3) Acres in Size • Consider Approval of Special Events Permit for The Penalty Box Bar & Grill, 14077 St. Francis Boulevard NW HRA (Tuesday — Immed. following City Council — CC) • Review Agreement with PSD regarding Master Declaration Resolution Park and Recreation Commission (Thursday — 6:30 — River's Bend Park, 14201 Waco St.) • Review Completion of Trail Loop Mapping Project • Recommend Irrigation and Drinking Fountain for North Commons Council Update Ramsey Business Expo & Environmental Expo. On Saturday, April 28 2012, an estimated 500 people attended the Ramsey Environmental and Ramsey Business Expos. Both expos took place from 9:00 a.m. to 2:00 p.m. and were located within walking distance of each other, allowing patrons a unique two -in -one expo opportunity. Attached to the Weekly Update is a press release /flyer recapping the event; which was sent to ABC Newspapers, QCTV and posted to the City website /Facebook page. Flaherty & Collins (F &C) Closing on the Residence at the COR. The closing on the apartment housing complex with F &C was completed Monday afternoon, April 30. At close, F &C paid the city the remaining $500,000 for the land purchase ($250,000 was paid to City on March 9, 2012). At closing, F &C also submitted for their first draw request. At date of closing, F &C had a total of $2,073,865 into the project for such items as land costs, legal fees, architect fees, closing and insurance costs. Of this amount the developer's equity contribution was responsible for the payment of the first $1M. The first draw wire was in the amount of $428,865 calculated as such: Total Costs to date: $2,073,865 Developer Equity: ($1,000,000) Land Sale Proceeds ($500,000) Fee to HRA for Loan #1 ($120,000) Original Loan of $1,420,000. Whereas F &C was required to pay back $120,000 at closing Escrow Reim to City ( $25,000) Total Draw #1 $428,865