Minutes - Council - 10/14/2003 - Laserfiche WebLink

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Motion by Councilmember Elvig, seconded by Councilmember Kurak, to authorize the development agreement for the PACT Charter school, requiring an escrow for inspection fees and the language pertaining to park dedication fees, as presented by staff. Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Elvig, Kurak, Cook, Pearson, Strommen, and Zimmerman. Voting No: None. Case #14a: Adopt Resolution Authorizing Staff to Initiate an Application for a MnDOT Cooperative Agreement Grant Assistant Director of Public Works Olson stated that the City has been made aware of five cooperative grants in the amount of $500,000 that have been made available. The City would be applying for two specific projects. One project would be the park and ride building structure and the second project would be providing an outlet for drainage for Highway #10. Councilmember Kurak inquired if the park and ride facility will be located in its permanent location. Assistant Director of Public Works Olson replied yes. Motion by Coutncilmember Elvig, seconded by Councilmember Cook, to adopt Resolution #03- 10 -284 authorizing staff to initiate an application for MnDOT cooperative agreement grant. Motion carried. Voting Yes: Mayor Gamec, and Councilmembers Elvig, Cook, Kurak, Pearson, Strommen, and Zimmerman. Voting No: None. Case #14b: Approve Amended Terms of the Development Agreement with Basalt Properties, LLC City Attorney Goodrich stated that City Council approved the terms of a T1F Agreement with Basalt, LLC at the September 23, 2003 meeting. Since that date, the Minimum Market Value of the project improvements has been reduced. A development agreement with Basalt Properties, LLC has been tegotiated with City staff having the following specific: the project includes the construction of a 16,800 square foot office /warehouse building in the fall of 2003; the building will be located; east of the T & G Land project in Gateway North Industrial Park; and it is anticipated that',the project will create at least four new jobs paying a wage of at least $15.00 per hour in a two year period. The County Assessor has established an assessed taxable market value of approximately $627,900 for the project. It is anticipated that the project will generate $21,613 annually in taxes and approximately $11,808 annually in tax capacity. The assessed taxable market value reported here is less than what was presented at the September 23, 2003 Council meeting. That amount reflected both the phase one and phase two construction. The development agreement negotiated by City staff and reviewed by the City Attorney will cover only phase one. City Council/October 14, 2003 Page 26 of 30 x