Minutes - Council - 11/12/2002 - Laserfiche WebLink

Home

Further discussion: City Attorney Goodrich inquired if there was any concern with the 60 day rule. Associate Planner Wald explained that the developer has given staff an extension of time until November 26, so a decision will have to be made at the next Council meeting. Mayor Gamec stated that he would be recommending that the developer pay for the lights and construct the MSA street. Councilmember Hendriksen requested that the information be put into a development agreement for the next meeting. Councilmember Kurak requested that the Case be placed as one of the first items on the next agenda. Motion carded. Voting Yes: Mayor Gamec, Councilmembers Hendriksen, Kurak, and Anderson. Voting No: None. Case #5: Request for Site Plan Review of Rivenwick 3rd Addition: Case of Turtle Moon, Inc. Item was tabled. Case#6: Request to Rezone Certain Property from B-1 Business to R-2 Medium Density Residential: Case of Turtle Moon, Inc. Item was tabled. Case #7: Acquisition of Lot 1, Block 2, A.E.C. Energy Park City Attorney Goodrich noted that there was no attempt of the City to acquire the lot. He explained that the City .currently is a party in a development agreement with Direct Enclosures and Connexus Energy that was executed July 21, 1999. The development agreement is in effect until July 31, 2002. The terms of this agreement state that the above described property needs to generate at least $13,500 in tax increment per year. Recently, Direct Enclosures has put the building up for sale and has located a buyer. Class C Components, a business from Brooklyn Park would like to purchase the property. The holding company that wishes to purchase the property and .building is North Suburban Management, LLC. There are other parties interested in the building and a sale to a specific party has not been finalized. The development agreement and the terms of the agreement must be transferred to the new entity to guarantee that the City received the increment necessary to fulfill the financial obligations of the development agreement. An assumption agreement executed by Connexus, Direct Enclosures, the City of Ramsey, and the potential buyer, would effectively transfer the development agreement to the new business. The City Attorney and staff shall obtain a certificate of good standing and adequate financial information from the prospective buyer to insure that the business is solvent and is stable from a business standpoint. This is done to assure the City Council that the business is solid and that there shouldn't be any foreseeable problems with performance under the development agreement. The closing for the proposed sale of the property is unclear but staff was seeking approval of the sale of the property and building and to enter into an assumption agreement with any qualifying business. City Council/November 12, 2002 Page 17 of 22