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05(L) - Resolution Accepting the Transfer of Property from the Prior Lake Economic Development Authority Report
ITEM: 5L CITY COUNCIL AGENDA REPORT MEETING DATE: August 26, 2025 PREPARED BY: Casey McCabe, Community Development Director PRESENTED BY: Casey McCabe AGENDA ITEM: Resolution Accepting the Transfer of Property from the Prior Lake Economic Development Authority RECOMMENDED ACTION: Approval of a resolution accepting the transfer of property from the Prior Lake Economic Development Authority (EDA). BACKGROUND: The purpose of this agenda item is to correct a discrepancy in title work and prepare the two EDA- owned lots next to City Hall for redevelopment. The EDA owns two parcels of land at 4662 and 4664 Dakota Street SE (PIDs 255650020 and 255650030) which total approximately 45,000 sq. ft. Both parcels are 75 ft. in width and 300 ft. in depth and occupied with vacant single-family homes. Prior to 2022, this area was occupied by four parcels. Parcel 1 (4662 Dakota St.) was a 70 ft. X 200 ft. parcel acquired by the EDA in 2020. Parcel 2 (4664 Dakota St.) was a 37.5 ft. X 200 ft. parcel acquired by the City of Prior Lake in 2014. Parcel 3 (4666 Dakota St.) was a 37.5 ft. X 200 ft. parcel acquired by the City of Prior Lake in 2005. Parcel 4 (no address) was a remnant parcel of land located north of parcels 1-3 that was acquired by the City of Prior Lake in 2005 to facilitate the construction of City Hall. In 2020, the Prior Lake City Council transferred ownership of Parcels 2 and 3 to the EDA to facilitate a future redevelopment project, and on March 6, 2023 the Prior Lake City Council transferred ownership of Parcel 4 to the EDA. On November 7, 2022, the Prior Lake City Council approved the enlargement of Municipal Development District No. 1 and a Modified Development Program related thereto; the establishment of a Tax Increment Financing District (No. 1-6) within Municipal Development District No. 1; and a Tax Increment Financing (TIF) Plan related to a proposed mixed-use redevelopment project to be completed by Prior Lake B Squared Ventures, LLC (Developer). The TIF Plan identified a 145 ft. X 300 ft. redevelopment parcel based on a title commitment prepared in 2020. In 2022 the City Council approved the final plat of City Hall Plaza which provided for the entire City Hall property to be located on one lot and created two 75 ft. by 300 ft. parcels. As part of the platting process, the City’s engineering consultant had a title commitment prepared which identified EDA ownership of a previously vacated alley adjacent to the 4662 Dakota Street parcel which in-creased the lot dimensions of Lot 2, Block 1, City Hall Plaza from 70 ft. in width to 75 ft. City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 Item 5L Page | 2 This additional five feet presents a minor issue that must be corrected as the TIF plan has already been approved with the previously anticipated dimensions of 145 ft. by 300 ft. Current Circumstances Pursuant to Minnesota Statutes, Section 469.105, the EDA is required to hold a public hearing to consider the sale or conveyance of EDA-owned land. The EDA may sell and convey property it owns within the city if it determines the sale and conveyance are in the best interests of the city or district and its people, and the transaction furthers it general plan of economic development. The EDA held a public hearing on June 12, 2023 and authorized the EDA President and Executive Director to execute the documents necessary the western 5’ of Lot 2, Block 1, City Hall Plaza to the City of Prior Lake. Conclusion EDA Resolution 23-03 states an Administrative Land Subdivision shall be completed transferring the westerly 5.00 feet, as measured at a right angle, of Lot 2, Block 1, CITY HALL PLAZA, according to the recorded plat thereof, Scott County, Minnesota, from the EDA to the City of Prior Lake. If approved, staff will prepare an administrative land subdivision to split off the western 5 ft. of Lot 2, Block 1, City Hall Plaza, and deed that 5 feet of land to the City of Prior Lake. FINANCIAL IMPACT: No financial impact is anticipated as a result of this action. ALTERNATIVES: 1. Motion and second as part of the consent agenda approving a resolution accepting the transfer of property from the Prior Lake Economic Development Authority and authorizing staff to complete an administative land subdivision. 2. Remove this item from the consent agenda for discussion. ATTACHMENTS: 1. City Hall Plaza Preliminary Plat based on 2020 Title Commitment (145 ft. total lot width) 2. City Hall Plaza Final Plat (150 ft. total lot width) 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 25-____ A RESOLUTION ACCEPTING THE TRANSFER OF PROPERTY FROM THE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY Motion By: Second By: WHEREAS, the Prior Lake Economic Development Authority (“EDA”) was created pursuant to Minnesota Statutes, Sections 469.090-469.108 (“Act”) and was authorized to transact business and exercise its powers by a resolution of the City Council of the City of Prior Lake pursuant to Section 469.093 of the Act and has all the powers of an economic development authority under Minnesota law; and WHEREAS, the EDA owns real property located in Prior Lake, Minnesota legally described as: Lots 2 and 3, Block 1, CITY HALL PLAZA, according to the recorded plat thereof, Scott County, Minnesota (“Property”); and WHEREAS, the EDA would like to transfer ownership of the westerly 5.00 feet, as measured at right angles, of Lot 2, Block 1 CITY HALL PLAZA (“Subject Property”) to the City of Prior Lake; and WHEREAS, the EDA held a public hearing on the Subject Property transfer pursuant to Minnesota Statutes Section 469.105, Subdivision 2 on June 12, 2023; and WHEREAS, Notice of said public hearing was duly published and posted in accordance with the applicable Minnesota Statutes and Prior Lake Ordinance; and WHEREAS, the EDA Resolution (23-04) approved on June 12, 2023 authorized the EDA President and Executive Director to execute the documents necessary to convey the westerly 5.00 feet, as measured at a right angle, of Lot 2, Block 1, CITY HALL PLAZA, according to the recorded plat thereof, Scott County, Minnesota (Property) to the City of Prior Lake subject to the following conditions: i. Prior to closing, the Planning Commission shall review the disposal of the EDA- owned interest in the Property, or the City Council may, by resolution adopted by two-thirds vote, dispense with this requirement if in its judgment it finds that the proposed disposal of Property has no relationship to the comprehensive municipal plan in conformance with Minn. Stat. § 462.356, subd. 2. ii. Prior to closing, an Administrative Land Subdivision shall be completed transferring the westerly 5.00 feet, as measured at a right angle, of Lot 2, Block 1, CITY HALL PLAZA, according to the recorded plat thereof, Scott County, Minnesota, from the EDA to the City of Prior Lake. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Prior Lake that: 1. The disposal of Property by the EDA has no relationship to the City’s comprehensive municipal plan and review by the Planning Commission related to disposal of the Property or Subject Property is hereby dispensed with. 2. The acceptance of the Subject Property by Quit Claim Deed is hereby approved subject to the following condition: a. EDA will dedicate a drainage and utility easement in favor of the City over the westerly 10 feet of Lot 2, Block 1, City Hall Plaza prior to the transfer of the Subject Property. 3. The Mayor and City Manager are hereby authorized to execute the documents necessary to ensure the Subject Property is conveyed to the City of Prior Lake in accordance with the terms of this Resolution. th ADOPTED by two-thirds vote of the City Council of the City of Prior Lake, this 26 day of August 2025. VOTE Briggs Braid Churchill Lake Hellier Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Jason Wedel, City Manager TAX INCREMENT FINANCING (REDEVELOPMENT) DISTRICT NO. 1-6 DRAFT FOR PUBLIC HEARING, NOVEMBER 7, 2022 45 I= 9 5 4 . 8 5 G F F E E E E E E E E G G G G X X X X X G G G G X X X X X X X X X X X X X X X X X X X G G G G G G G G G G G G G G G G G G G C C C C C C CC C G G G G G G G G G G G G G G G G G G G G G G G G G G G E E E EE E E E E E E E E E E E E E E E E E E > > > > > > > > > > > > > > > > > > > > > > > > >> > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > >> >> >> >> >> > > > > >>>> >> >> >> >> >> >> > > > > >> >> >> >> >> > > >>>> >> >> >> >> >> >> > > NO TRE S P A S S I N G S I G N PIPE INT A K E FROM A C UNIT BO U L D E R BO U L D E R BO U L D E R BO U L D E R VISITOR P A R K I N G S I G N OV E R H A N G OUTLET OU T L E T HA N D I C A P P E D PA R K I N G S I G N VIS I T O R P A R K I N G S I G N ROCKS BOULDER ME T A L S T A T U E BO U L D E R MEMORI A L PLAQUE BOULDER CONDUIT WATERFAL L F E A T U R E ST A T U E ON C O N BO U L D E R PA R K R U L E S S I G N 1 5 " P V C FIR E P I T CHAIN LI N K F E N C E ( 4 ' H E I G H T ) BIT BI T BIT BIT BIT BIT BI T BIT CON ELEC. 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O N 1 0 / 1 3 / 2 0 2 0 = 9 2 0 . 9 9 ( N A V D 8 8 ) WOOD F E N C E MULTIPL E T E N A N T B U I L D I N G DECK DE C K l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l 15 " R C P BUILDIN GOVERHA N G MH S N R= 9 5 5 . 5 0 I= E ( 8 " V C P ) 95 0 . 3 0 I=I=I=I=I= MH S N R= 9 6 2 . 2 8 I= S ( 8 " V C P ) W ( 8 " V C P ) N ( 8 " V C P ) W ( 8 " V C P ) 94 5 . 7 2 94 5 . 4 9 I=I= 94 5 . 5 3 I= 94 9 . 6 8 I=I= CB C C R= 9 4 8 . 8 7 I= W ( 1 5 " R C P ) NE ( 1 5 " R C P ) 94 3 . 9 1 94 3 . 9 7 I=I=I=I=I= MH S T R= 9 4 3 . 0 4 I= N ( 1 5 " R C P ) SW ( 1 5 " R C P ) 93 8 . 1 4 93 8 . 1 0 I=I=I=I=I= CB C C R= 9 2 9 . 0 2 I= NE ( 1 5 " P V C ) W ( 6 " P V C ) S ( 1 5 " R C P ) SU M P 92 7 . 0 2 92 5 . 3 6 I=I= 92 4 . 9 4 I= 91 9 . 2 2 I=I= MH S N R= 9 5 8 . 0 8 I= N ( 8 " V C P ) S ( 8 " V C P ) E ( 8 " V C P ) 94 5 . 4 3 94 5 . 4 5 I=I= 94 5 . 7 9 I=I=I= MH S N R= 9 5 9 . 7 8 I= S ( 8 " V C P ) E ( 8 " V C P ) W ( 8 " V C P ) N ( 6 " V C P ) 94 9 . 0 4 94 8 . 8 3 I=I= 94 8 . 4 6 I= 94 8 . 7 4 I=I= MH S N R= 9 5 7 . 2 1 I= E ( 8 " V C P ) W ( 8 " V C P ) 94 6 . 1 1 94 6 . 1 2 I=I=I=I=I= CB C C R= 9 5 6 . 0 0 I= SW ( 6 " P V C ) NE ( 1 0 " P V C ) 95 1 . 1 6 95 1 . 2 0 I=I=I=I=I=MH S N R= 9 5 6 . 7 7 I= S ( 8 " V C P ) E ( 8 " V C P ) W ( 8 " V C P ) SW ( 8 " V C P ) 94 6 . 1 0 94 6 . 0 9 I=I= 95 1 . 1 7 I= 94 6 . 3 5 I=I= CB C C R= 9 5 0 . 7 7 I= N ( 1 2 " P V C ) S ( 1 2 " P V C ) 94 6 . 8 3 94 6 . 7 6 I=I=I=I=I= CB C C R= 9 2 9 . 4 2 I= SW ( 1 5 " P V C ) 92 6 . 6 9 I=I=I=I=I= CB C C R= 9 5 2 . 6 8 I= S ( 1 0 " P V C ) N ( 1 2 " P V C ) 94 9 . 8 3 94 9 . 8 8 I=I=I=I=I= MH S T R= 9 5 8 . 4 8 I= N ( 1 5 " R C P ) W ( 1 5 " R C P ) 95 1 . 3 3 95 1 . 3 2 I=I=I=I=I= MH S T R= 9 5 7 . 0 6 I= NW ( 1 5 " R C P ) E ( 1 5 " R C P ) 95 1 . 3 5 95 1 . 3 6 I=I=I=I=I= MH S T R= 9 5 6 . 9 7 I= N ( 1 5 " R C P ) S ( 1 5 " R C P ) 95 0 . 7 2 94 7 . 0 6 I=I=I=I=I= CB C C R= 9 4 8 . 5 6 I= E ( 1 5 " R C P ) SW ( 1 5 " R C P ) SE ( 1 0 " P V C ) 94 4 . 4 6 94 4 . 4 6 I=I= 94 4 . 5 1 I=I=I= MH S T R= 9 4 9 . 7 5 I= S ( 1 5 " R C P ) NE ( 1 5 " R C P ) 94 5 . 1 8 94 6 . 7 5 I=I=I=I=I= CB R C C G F L 1 R= 9 5 5 . 5 3 I= SE ( 1 5 " R C P ) SU M P 94 5 . 5 3 95 1 . 4 8 I=I=I=I=I= CB R C C G F L R= 9 5 8 . 4 8 I= NE ( 1 2 " R C P ) 95 6 . 0 8 I=I=I=I=I= CB R C C G F L E R= 9 5 7 . 0 9 I= NW ( 1 2 " R C P ) 95 5 . 0 9 I=I=I=I=I= CB R C C G F L 1 R= 9 5 7 . 4 3 I= SW ( 1 2 " R C P ) SE ( 1 2 " R C P ) N ( 1 2 " P V C ) 95 5 . 0 3 95 5 . 2 1 I=I= 95 4 . 9 8 I=I=I= HOUSE 70 70 20 50 45 12 0 75 70 75 37 . 5 (C I T Y - P A R C E L 2 ) (EDA - P A R C E L 1 ) (EDA - P A R C E L 3 ) (EDA - P A R C E L 2 ) DA K O T A S T R E E T S E ERIE AV E N U E S E (NOT CO N S T R U C T E D ) 66 66 66 60 . 5 60 . 5 5.5 5.5 66 66 66 66 66 66 (CITY - P A R C E L 1 ) S 7 3 ° 2 0 ' 0 4 " E 3 3 3 . 0 0 S 16°40'1 7 " W 3 0 0 . 0 0 N 7 3 ° 2 0 ' 0 4 " W 4 1 1 . 0 0 N 16°40' 1 7 " E 2 0 0 . 0 0 S 7 3 ° 2 0 ' 0 4 " E 7 8 . 0 0 N 16°40' 1 7 " E 1 0 0 . 0 0 125.00 70 . 0 0 18 8 . 0 0 26 6 . 0 0 70 . 0 0 60 . 0 0 N 16°40' 1 7 " E 3 0 0 . 0 0 N 16°40' 1 7 " E 3 0 0 . 0 0 N 8 9 ° 3 6 ' 0 2 " W 1 4 4 5 . 9 6 S 16°40'1 7 " W 5 1 8 . 4 4 (P U B L I C R O A D W A Y ) ARCADI A AVENUE S E (PUBLIC ROADW A Y ) ERIEAVENUE S E (PUBLIC ROADW A Y ) (PUBLIC R O A D W A Y ) OW N E R : C I T Y O F P R I O R L A K E PI D : 2 5 9 0 2 0 0 1 0 AD D R E S S : N O N E ZO N E : R - 1 OW N E R : C I T Y O F P R I O R L A K E PI D : 2 5 0 1 5 0 0 3 0 AD D R E S S : N O N E ZO N E : R - 1 OW N E R : H O L Y T R I N I T Y U N I T E D M E T H O D I S T PI D : 2 5 0 0 1 0 4 4 0 AD D R E S S : 1 6 1 5 0 A R C A D I A A V E . S E . ZO N E : T C - T OW N E R : C I T Y O F P R I O R L A K E PI D : 2 5 0 0 1 0 4 2 0 AD D R E S S : 4 6 4 9 D A K O T A S T . S E . ZO N E : T C OWNER: S C O T T D . & D E B O R A H J . CARLSONPID: 250 0 1 0 4 3 0 ADDRESS : 4 6 6 7 D A K O T A S T . S E . ZONE: TC OWNER: M E R T E N S PROPERT I E S L L C PID: 250 0 1 0 4 0 0 ADDRESS : N O N E ZONE: T C OW N E R : M U L T I P L E PI D : M U L T I P L E AD D R E S S : M U L T I P L E ZO N E : T C OW N E R : J O S E P H A . F E L D M A N PID : 2 5 0 0 1 0 5 3 0 AD D R E S S : 4 5 8 0 D A K O T A S T . S E . ZO N E : T C ADDITIO N A L R E A L E S T A T E CIC NO. 1 1 2 1 , L A K E F R O N T P L A Z A C O N D O M I N I U M LO T 1 LO T 3 LO T 2 1/ 2 " I R O N P I P E I N C O N C . 1/ 2 " I R O N P I P E 1/ 2 " I R O N P I P E RL S # 4 2 3 0 9 RE B A R 1/ 2 " I R O N P I P E 1/ 2 " I R O N P I P E RL S # 1 0 1 8 3 2" I R O N P I P E 2 F T . A B O V E G R A D E 1/ 2 " P I N C H E D I R O N P I P E RE B A R 1/ 2 " I R O N P I P E RL S # ? 1 / 2 " I R O N P I P E 1/ 2 " I R O N P I P E RL S # 8 6 2 5 1/ 2 " I R O N P I P E RL S # 4 2 3 0 9 2" I R O N P I P E RR S P I K E 1/ 2 " I R O N P I P E RL S # 1 0 1 8 3 T-POSTTIPPED S O U T H 1/ 2 " I R O N P I P E MA G N A I L & D I S K RL S # 1 8 4 0 7 1/ 2 " I R O N P I P E RL S # 4 2 3 0 9 NO R T H L I N E O F N E 1 / 4 O F SE C . 2 , T W P . 1 1 4 , R G E . 2 2 NW C O R . O F N E 1 / 4 O F SE C . 2 , T W P . 1 1 4 , R G E . 2 2 R/ W P A I N T M A R K I N G (R E A D I N G U N D E R P A V E M E N T ) 96 0 960 955 950 9 5 5 95 0 9 4 5 9 4 0 93 5 93 0 92 5 920 9 6 0 960 960 95 5 95 0 94 5 94 0 935 930 925 92 0 955 95 0 94 5 94 0 93 0 92 5 PR O P E R T Y C O R N E R N O T S E T (L I E S I N W A T E R ) OUTLOT A 60 . 0 0 15 . 0 0 15 . 0 0 N 16°40' 1 7 " E 3 0 0 . 0 0 PR O P O S E D 1 0 F T . D R A I N A G E & U T I L I T Y E A S E M E N T PROPOSE D 5 F T . D R A I N A G E & UTILIT Y E A S E M E N T PR O P O S E D 1 0 F T . D R A I N A G E & U T I L I T Y E A S E M E N T PR O P O S E D 1 0 F T . DR A I N A G E & U T I L I T Y EA S E M E N T PR O P O S E D 5 F T . DR A I N A G E & U T I L I T Y EA S E M E N T PROPOSE D 5 F T . D R A I N A G E & UTILITY E A S E M E N T PR O P O S E D 1 0 F T . D R A I N A G E & U T I L I T Y E A S E M E N T PR O P O S E D 1 0 F T . D R A I N A G E & U T I L I T Y E A S E M E N T PR O P O S E D 9 F T . D R A I N A G E & U T I L I T Y E A S E M E N T VIL L A G E O F P R I O R L A K E SA N I T A R Y S E W E R E A S E M E N T PE R B K . 1 4 5 D . , P G . 4 2 7 (IT E M 1 0 ) VILLAGE O F P R I O R L A K E SANITAR Y S E W E R E A S E M E N T PER BK. 1 4 5 D . , P G . 4 2 4 (ITEM 11) VILLAGE O F P R I O R L A K E SANITARY S E W E R E A S E M E N T PER BK. 1 4 5 D . , P G . 4 2 1 (ITEM 12 ) 12 2 2 4 N I C O L L E T A V E N U E BU R N S V I L L E , M I N N E S O T A 5 5 3 3 7 (9 5 2 ) 8 9 0 - 0 5 0 9 R SC A L E I N F E E T 0 30 60 H: \ P L A K \ 0 T 1 1 2 2 8 2 8 \ C A D \ C 3 D \ 1 2 2 8 2 8 _ V _ P R O P _ E 1 . d w g 8/ 2 3 / 2 0 2 1 3 : 0 4 P M ©B o l t o n & M e n k , I n c . 20 2 1 , A l l R i g h t s R e s e r v e d FO R : DR A W N B Y : FI E L D B O O K : JO B N U M B E R : R PR E L I M I N A R Y P L A T 46 4 6 , 4 6 6 2 , 4 6 6 4 & 4 6 6 6 D A K O T A S T . S E , P R I O R L A K E , M N 5 5 3 7 2 AL L O F B L O C K 8 & P A R T O F L O T S 3 - 6 , B L O C K 7 PR I O R L A K E SC O T T C O U N T Y , M N CI T Y O F P R I O R L A K E H: \ P L A K \ 0 T 1 1 2 2 8 2 8 \ C A D \ C 3 D \ S D B _ 1 2 2 8 2 8 _ S c o t t C o 0T 1 . 1 2 2 8 2 8 ME A & E R W FI L E N O . 5 3 8 4 D W G . N O . 3 9 3 9 S2 - T 1 1 4 - R 2 2 - 1 2 CI T Y H A L L P L A Z A PR E L I M I N A R Y P L A T __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Er i c R . W i l f a h r t Li c e n s e N u m b e r 4 6 1 6 6 SU R V E Y O R ' S C E R T I F I C A T I O N I h e r e b y c e r t i f y t h a t t h i s s u r v e y , p l a n , o r r e p o r t w a s p r e p a r e d b y m e o r un d e r m y d i r e c t s u p e r v i s i o n a n d t h a t I a m a d u l y L i c e n s e d L a n d S u r v e y o r un d e r t h e l a w s o f t h e S t a t e o f M i n n e s o t a . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Da t e 8/ 2 3 / 2 0 2 1 SH E E T 2 O F 2 S H E E T S BE N C H BU S H CA T C H B A S I N CU R B S T O P CA T C H B A S I N CL E A N O U T FL A R E D E N D / A P R O N HA N D I C A P P A R K I N G FI R E H Y D R A N T MA I L B O X MA N H O L E - S A N I T A R Y S E W E R MA N H O L E - S T O R M S E W E R MA N H O L E - U T I L I T Y PE D E S T R I A N P U S H B U T T O N PE D E S T A L - C O M M U N I C A T I O N VA L V E P O S T I N D I C A T O R LI G H T P O L E PO S T PI C N I C T A B L E TR E E - D E C I D U O U S SI G N T R A F F I C WA T E R S P I G O T IR R I G A T I O N S P R I N K L E R H E A D IR R I G A T I O N V A L V E B O X TR A N S F O R M E R - E L E C T R I C TR A S H C A N VA L V E TR E E - C O N I F E R O U S ME T E R BI R D F E E D E R AI R C O N D I T I O N E R AU T O S P R I N K L E R C O N N E C T I O N LI G H T - G R O U N D SI G N N O N T R A F F I C MO N U M E N T F O U N D BE N C H M A R K CA S T I R O N M O N U M E N T F O U N D EL E C T R I C U N D E R G R O U N D GA S U N D E R G R O U N D CO M M U N I C A T I O N U N D E R G R O U N D FI B E R U N D E R G R O U N D WA T E R S Y S T E M ST O R M S E W E R SA N I T A R Y S E W E R IN T E R M E D I A T E C O N T O U R IN D E X C O N T O U R SE C T I O N L I N E >> > > C C E E F F G G l l EA S E M E N T AD J A C E N T FE N C E RI G H T O F W A Y X X X X CU R B & G U T T E R WA T E R E D G E ED G E O F T R E E S UT I L I T Y M A R K E R RE T A I N I N G W A L L 1/ 2 " I R O N P I P E M O N U M E N T T O B E S E T MA R K E D B Y R L S # 4 6 1 6 6 DR A F T Ex h i b i t V I