HomeMy WebLinkAbout05-153 16200 Creek Avenue S.E.
Eagle
W~ Prior Lake, MN 55372-1714
~:E~OLUTION OF THE PRIOR LAKE CITY COUNCIL ACCEPTING THE FINAL DOWNTOWN
FA~;AOE
IMPROVEMENT REPORT ANO GRANTING FACADE PROJECT EXTENSION FOR IVEX, LLC
MOTION BY: LeMair
SECOND BY: Fleming
WHEREAS:
On June 17th, 2002, the City Council adopted resolution 02-99 establishing a matching grant
program to encourage Downtown building fac~ade improvements and providing funds for the
program, and
WHEREAS:
The funds for the Downtown Improvement Program have been successfully invested in the
· downtown area in the amount of $2,397,321, with a City investment of $277,086 and a business
investment of $2,120,235, and
WHEREAS:
The City Council has reviewed the Downtown Fagade Improvement Program Final Report
presented by staff, and
WHEREAS:
IVEX, LLC successfully applied for a grant not to exceed $25,000 on October 4, 2004 and said
application was approved by the City CoUncil, and
WHEREAS:
The City Council has $25,000 remaining in the balance of the fund that is committed for the IVEX
building project located at 4616 Colorado Street, and
WHEREAS:
IVEX, LLC has applied for an extension of their approved fa(;ade project until October 1, 2006 as
their odginal project completion deadline expired on September 1, 2005, and
WHEREAS:
The IVEX LLC project is a substantial downtown building project with a total value estimated to be
$1,200,000 with up to 40 jobs and new tax base creation, and
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PRIOR LAKE,
MINNESOTA,
1. The recitals set forth above are incorporated herein.
2. The final Downtown Facade Improvement Report is hereby accepted.
3. The fa(;ade project extension for IVEX, LLC is hereby approved for the property located at 4616 Colorado Street
until October 1, 2006.
4. The fa(~ade grant amount is to be paid in an amount up to 50% of demonstrated costs related directly to facade
construction. In any case, the amount paid to the applicant shall not exceed the amount listed above. The City
shall reimburse the applicant for actual costs incurred as demonstrated by paid invoices, cancelled checks, lien
wavers or such other evidence of payment of eligible costs as the City in its sole discretion may require.
5. In the event the work covered by this resolution is not completed by October 1, 2006, the City shall no longer be
obligated to reimburse costs incurred after that date.
Passed and adopted this 6th day of September, 2005. YES NO
HAUGEN X HAUGEN
FLEMING X FLEMING
LEMAIR X LEMAIR
PETERSEN X PETERSEN
ZIESKA Absent ZlESKA
{Seal} Frank Boyles, City Manager
R:\RESOLLrl'IV~DMINRF. S~2005\05-123 IVE'X Facade~j~riorlake.com
Phone 952.447.4230 / Fax 952.447.4245