HomeMy WebLinkAboutSeptember 7, 1993ECONOMIC DEVELOPMENT AUTHORITY MINUTES
Monday, September 7, 1993
Chairman Barsness called the meeting to order. Members present were: Andren,
Arnold, Barsness, Kedrowski, Fitzgerald, Scott, White, Attorney Kessel and Recording
Secretary Birch. Motion by Kedrowski, seconded by Arnold, to approve the Economic
Development Authority Minutes of the March 15, 1993 meeting. The Motion carried.
Agenda items under discussion were: 1) Consider Keyland Homes (A & H
Enterprises) Development for Waterfront Passage Business/Office Park; 2) Approve
Purchase Agreement; and 3) Consider Plan for Groundbreaking Ceremony for
Waterfront Passage Business/Office Park.
Kay Kuhlmann discussed plans for the groundbreaking ceremony and Roger
Guenette presented details of the Developer's Agreement and Purchase
Agreement. Discussion occurred regarding page 4, item 6 of the draft of the
Development Agreement which included the Assessment Agreement and a
Note. Attorney Kessel indicated it should state: "Real estate taxes due and
payable in year of closing shall be prorated." The proposed Tax Increment
document will be forwarded to the City and the County for their review.
September 20, 1993 was the recommended hearing date for City Council
consideration. Guenette stated that they have allowed for enough increments
and/or guaranteed payments from the developers. Guenette noted that an
allowance has been made for the potential local government aid loss and that
the City will experience no net loss as a result of this project.
Clarification was made as to the legal name (partners are Cecil Anderson and
Gary Horkey) who for the purpose of building will go by the name of A & H
Enterprises. Appropriate changes will be made in the Development
Agreement.
Motion by Andren, seconded by, Kedrowski to accept the real estate
purchase agreement contingent upon an assessment agreement as
amended. Motion carried, Bob Barsness abstained from voting.
Motion by Kedrowski, seconded by Arnold, to recommend a resolution
to set the hearing for September 20, 1993. Motion carried.
Motion by Kedrowski, seconded by Scoff, to adjourn the meeting.
Motion carried.
EDAM.EDC
Chair
Recording Secretary
4629 Dakota St. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER