HomeMy WebLinkAbout1975-03-04 HRA Regular Meeting AGENDA
Housing and Redevelopment Authority of Edina, Minnesota
Tuesday, March 4, 1975, at 7:30 P.M.
Edina City Hall
1. Roll Call.
2. Approval of the Minutes of the February 4, 1975, H.R.A. Meeting.
3. Recommendations and Reports.
A. Reappointment of Commissioner Gary B. Lyall.
B. ]Proposed Acquisition of Union Oil Property (continued from
2-4-75) .
C. :Pax Increment Pledge with City of Edina (continued from 2-4-75) .
D. Urban Design Contract -- BRW (continued from 2-4-75) .
E. Community Development Program.
4. Adjournment.
MINUTES OF THE REGULAR MEETING OF
THE HOUSING AND REDEVELOPMENT AUTHORITY OF EDINA, MINNESOTA
HELD TUESDAY, FEBRUARY 4, 1975
EDINA CITY HALL
1. Roll Call: Charles W. Freeburg, Chairman
James W. Nelson
Gary B. Lyall
Lawrence W. Rixe
Staff Present: Greg Luce, Executive Director
Thomas Erickson, H.R.A. Attorney
David Schnobrich, Project Planner
Lynnae Nye, Secretary
2. Approval of the Minutes of the January 22, 1975, Portion of the Meeting of
the Housing and Redevelopment Authority of Edina, Minnesota, held January 7,
1975, and Adjourned to January 22, 1975.
A motion to approve the minutes of the January 22, 1975, portion of the
H.R.A. meeting held January 7, 1975, and adjourned to January 22, 1975, was made
by Mr. Freeburg and seconded by Mr. Nelson. Upon roll call the following voted:
Ayes: Mr. Rixe, Mr. Freeburg, Mr. Lyall, Mr. Nelson.
Nays: None.
Motion carried.
3. Recommendations and Reports.
A. Proposed Acquisition of Union Oil Property - Public Hearing.
Mr. Luce recalled that when the 2-4-75 hearing date for acquisition of the
Union Oil site was set by the H.R.A. , they instructed the staff and consultant to
meet with Union Oil representatives to determine whether the station could be
redesigned to allow them to continue their present business operation within the
50th and France project area. Meetings were held as instructed to consider
several designs devised by the consultant, Peter Jarvis, and the Union Oil
alternatives previously proposed. The staff and consultant concur, however,
that "none of the alternatives are good alternatives to removal of the station."
Mr. Peter, Jarvis of BRW explained that visibility, image/city entry, traffic
circulation, pedestrian access, and parking/access are the criteria which were of
concern when looking at the Union Oil site in terms of the overall redevelopment
project. He stated the impact of the visibility of the service station on the
two new commercial building infills planned on the south side of 50th Street was
of particular concern. Mr. Jarvis described four alternatives devised for redesign
of the existing service station, explaining that all four include a 30-40 foot
wide plaza but differ in the station configuration, island and access locations.
He related each alternative to the criteria explained, and concluded that
"continuation. of the Union Oil operation in its present location would cause
significant damage to the plan, not only from the tax increment finance stand-
point but also from a land use standpoint and in terms of the urban design goals,
objectives, and standards. " He recommended the plan not be amended, and that a
suitable relocation site be found that would satisfy the needs of Union Oil and
2-4-75 H.R.A. Minutes, page 2
the station proprietors; he recommended further that the station be allowed to
continue to operate until that location is ready for occupancy.
Discussion followed regarding the reduced value of the square footage in the
new building infills and subsequent tax increment loss, and the existing and
future traffic circulation, ramp access and ramp capacity. In reply to Mr.
Rixe, Mr. Jarvis stated the tax increment factor is significant in his opinion
in terms of the additional building square footage, which would be jeopardized
by the negative impact of the station if it were to remain in its existing location.
Mr. Glenn Hubbard, the division real estate representative for Union Oil
Company, explained the two alternatives for redesign of the service station drive-
ways, canopy and service bays presented at the January 7, 1975, H.R.A. meeting.
He stated that "insofar as the visibility from the west, we have a building setback
of 60 feet now. The only structure that may impede it is the canopy, and we
would remove that if necessary. He felt "this whole project is at the expense
of Union Oil Company, and it seems like we are being taken out of here primarily
for access for Lund's parking lot." Mr. Hyman Edelman, attorney representing the
Union Oil Company, stated the service station "is more than a gasoline station;
it is a facility which renders services, and has for many years, in a community
which needs this service. It has the reputation of being reliable and has close
personal connections with people in the area and from a long distance." He
stated "the visibility we are talking about here is purely aesthetic, and all
of the criteria add up to be aesthetics." He questioned whether aesthetics and
the "concept of making it comfortable for the leisurely, strolling shopper in order
to increase the economic activity for the major occupants in this area, are
proper considerations in taking an established business. " Mr. Edelman further
questioned "the justification for furnishing Lund's a municipal parking lot".
He summarized that Union Oil 's-houldn't be sacrificed and it isn't good planning.
Who has an aesthetically perfect kind of setting? You have to see the pros and
cons and benefits to be derived from this improvement and the just claims of
those who are in existence and serving the community."
In reply to Mr. Freeburg, Mr. Hubbard explained that "all oil companies
today review their outlets to see if their potential is being reached. If they
are not a good return on their investment, they are disposed of. The Phillips
location at 50th and Ewing is one that didn't make it. We don't see that we
should have to step out of a good location and into a location that someone else
couldn't make go. " Mr. Frank Coe and Mr. Bernard Belfanz, operators of the
Union Oil station, agreed.
Mr. Arvid Dickson, Mr. Phil Johnson, Susan Coe, Mr. Bill Harris, and Mr.
Bright Dornblaser spoke on behalf of Union Oil-, questioned "whether the value of
aesthetics would carry in the public view today", and objected to the "sacrifice
of the Union 76 station to increase the parking for Lund's." Mr. Arvid
Dickson stated "we are ignoring the human factor; it appears you would be
wiping out the livelihood of two families for parking for the Lund's store.
I am not sure that aesthetics are that important to the community, but people
are. "
2-4-75 H.R.A. Minutes, page 3
In reply to Mr. Lyall, Mr. Luce explained that all parking in the area will
be public parking except the two bank lots. The lot in front of the Lund's
store will provide parking for the businesses to be located in the new building
infills and for many of the north side shops while the north side ramp is under
construction; it is also needed to help relieve the deficiency created when on-
street parking is prohibited on 50th Street.
Following considerable discussion, Mr. Nelson moved to table the question
until the next regular meeting, March 4, 1975, and instructed "the station
operators and Union Oil representatives to continue their efforts to work with
the site to find an acceptable solution allowing the operation to continue,
consistent with the adopted project goals and incorporating a positive response
to what the overwhelming majority of businessmen at 50th and France have come
forward with to improve the corner." Mr. Rixe seconded the motion, and upon
roll call the following voted:
Ayes: Mr. Rixe, Mr. Freeburg, Mr. Lyall, Mr. Nelson.
Nays: None.
Motion carried.
The staff was instructed to document the financial impact in terms of the
possible loss in tax increment, and to quantify the alternatives in terms of the
impact on congestion. In reply to Mr. Luce, the Authority generally agreed that
the staff and consultant can examine other potential relocation sites within
the project area, and a plan modification might be acceptable provided it still
meets the stated project goals. Mr. Edelman said he had no other points to
raise.
After brief discussion, Mr. Rixe moved that Mr. Terry Foster, a Minneapolis
relocation officer, be retained by the H.R.A. at a cost not to exceed $300
without further permission. Mr. Freeburg seconded the motion, and upon roll
call the following voted:
Ayes: Mr. Rixe, Mr. Freeburg, Mr) Lyall, Mr. Nelson.
Nays: None.
Motion carried.
B. Urban Design Contract -- BRW.
C. H.R.A./City of Edina Tax Increment Pledge.
All generally agreed to continue the urban design contract and H.R.A./City
of Edina tax increment pledge to the agenda of the next regular meeting, to be
held March 4, 1975, at 7:30 P.M. at the Edina City Hall.
4. Adjournment.
No further discussion being heard, a motion to adjourn the meeting was made
by Mr. Nelson and seconded by Mr. Lyall. Upon roll call the following voted:
Ayes: Mr. Rixe, Mr. Freeburg, Mr. Lyall, Mr. Nelson.
Nays: None.
Motion carried. Meeting adjourned at 10:30 P.M.
Respectfully submitted,
Greg Luce, Ex sutive Director
AGREEMENT FOR PROFESSIONAL SERVICES
(50TH & FRANCE COMMERCIAL AREA FEASIBILITY REPORT,
PLANNING, URBAN DESIGN, LANDSCAPE DESIGN,
ENGINEERING DESIGN, AND CONSTRUCTION DESIGN)
THIS AGREEMENT, made and entered into this 4th day of
March , 1975, by and between the HOUSING AND REDEVELOPMENT AUTHORITY
OF EDINA, MINNESOTA (the "HRA") , a body politic and corporate under the laws
of the state of Minnesota, and BATHER, RINGROSE, WOLSFELD, INC. ("BRW") ,
a Minnesota corporation,
WITNESSETH THAT:
WHEREAS, the HRA, by resolution dated December 11, 1974, and the
City Council of Edina ("Edina") , by resolution adopted December 16, 1974,
did adopt and approve, respectively, the 50th & France Commercial Area Plan
dated December 3, 1974 (the "Plan") , for a redevelopment project in the
50th and France Commercial Area (the "Project Area") ; and
WHEREAS, it is necessary, in order to implement the Plan, for the
HRA to obtain certain engineering, architectural, and other professional
services, all of which BRW is willing and able to furnish to HRA.
NOS,, THEREFORE, for and in consideration of the covenants and
agreements hereinafter contained, HRA and BRW hereby agree as follows:
1. Feasibility Report. BRW agrees to commence immediately to
prepare a feasibility report for all of the work to be done pursuant to
the Plan, including, but not limited to, acquisition of property and easements,
roadway and pedestrian lighting, street furniture (benches, kiosks, and pedes-
trian conveniences) , pedestrian plazas and walkways, westerly entry focal
point, paving materials, public signing, street, curb, and gutter recon-
struction, realignment and narrowing of streets, intersection improvements,
construction of buffer areas, street beautification, including plant material,
utility line modifications and improvements, construction of parking ramps
and parking lots, and installation of traffic signals (all herein together
called the "Improvements") . The feasibility report shall contain a descrip-
tion of the general nature of the Improvements, the estimated cost thereof,
and such additional information as the HRA shall request so as to enable
Edina to hold an improvement hearing pursuant to Chapter 429, Minnesota
Statutes. BRW agrees to furnish to the HRA, as requested by the HRA, without
additional cost, up to thirty (30) copies of the feasibility report, with all
addenda and accompanying maps and exhibits, if any.
2. Additional Services To Be Performed by BRW. BRW also agrees, when
and as HRA, from time to time, shall request in writing, to perform the
following services (the ."Services") :
a. General Consultation. BRW will consult with the IRA con-
cerning, and will provide materials such as maps, data, sketches, and critiques
. that relate to, improvements that are proposed to be made by others within
the Project Area, for the purpose of ensuring full and complete communication
of materials, information, and design philosophy relevant to the proper
implementation of the Plan, including consultation from January 1, 1975.
b.. Design Framework for New Buildings and Building Renovations.
BRW shall prepare, for approval by the HRA, criteria, in booklet fora, for use
in the design of new buildings and pedestrian walkways, and the renovation of
existing buildings within the Project Area, to ensure the continuity of the
urban design process between the Improvements and private development and
redevelopment within the Project Area. Three hundred (300) copies of such
booklets shall be furnished to LIRA, when approved, without additional cost
to HRA.
-2-
c. Design Development. BRW will provide design development
drawings and documents, including various alternative designs for the Improve-
ments, for approval by the HRA. The design development documents shall fix
and describe the size, shape, and character of the Improvements as to structure,
mechanical and electrical systems, materials, and such other essentials as
may be appropriate. The design of the Improvements shall be performed in a
coordinated manner to ensure that all of the Improvements are in conformity
with the Plan, as modified from time to time by the HRA, and that the Improve-
ments shall relate to the Plan, and to 'the Project Area, in a manner that is
functionally correct, esthetically pleasing, and economically sound. The
design development of the parking ramps shall also include adequate structural
and traffic engineering to properly test and verify the structural efficiency,
economy of construction, and traffic operational characteristics, and to
ensure the optimum relationship between the ramps and adjacent buildings and
pedestrian walkways. Design review meetings with the HRA, the 50th and France
Steering Committee, property owners, Planning Commission, and Council, if
requested, shall be held by BRW to analyze the various alternatives and to
obtain their comments and concerns. Such design development drawings and
documents shall be prepared with adequate detail to provide a clear under-
standing of the design of the Improvements and how they relate to the existing
improvements in the Project Area and to the whole of the Plan. Thirty (30)
sets of such drawings and documents shall be furnished to the HRA, when ap-
proved, without additional cost to the HRA. Cost estimates of the Improvements,
based upon the designs approved by the HRA, shall be prepared by BRW and shall
be accurately documented and verified. Based upon those estimates, a revised
budget for the Project shall be prepared by BRW for HRA approval.
-3-
• d. Construction Documents. BRW shall prepare, for approval
by the M, construction documents for the Improvements, based upon and from
the design development documents approved by the HRA, except, however, for
(i) detail design of the parking ramps, including -preparation of- construc-
tion and bidding documents therefor, and (ii) detail design of traffic signals,
including the preparation of construction and bidding documents therefor.
These documents shall consist of plans, specifications, detail drawings, pro-
_ posal forms, advertisement for bidding, construction contracts, and all other
information and documents necessary to allow the Improvements, except for
(i) and (ii) above, . to be placed under contract. The construction documents
shall be prepared to a level of detail that will allow contractors to submit
firm quotations or bids on such Improvements, to a standard that conforms
• with the general professional practice in the area, and that satisfies any
other public agencies that are required to review and approve the plens and
specifications. Thirty (30) of such documents shall be furnished to the HRA, .
when approved, without additional cost to the H.R.A.
e. Bidding. Following approval of final construction docu-
ments and establishment of a bid date, BRW will prepare formal notice of bid.
After receipt of proposals for the construction work, a review of the bids
will be made by BRW, including a check of the accuracy of- the bids. Based
upon the bids received and the qualifications of the various contractors
submitting bids, a recommendation will be submitted by BRW to the HRA con-
cerning the award of a contract or contracts for the Improvements so bid.
(i) If the bid for any Improvement that is otherwise
• acceptable to HRA exceeds the budget prepared pursuant to paragraph 2.d.
• hereof, BRW promptly shall redesign the Improvement as to which the budget
-4-
was exceeded, in order to develop a design that will be within such budget.
Upon approval of the redesign by HRA, BRW shall prepare construction documents
for that Improvement pursuant to paragraph 2.d. hereof and based upon the
approved redesign. Upon approval of the construction documents for the
redesigned Improvement, BRW shall perform the bidding services set out in
this paragraph, based on such construction documents. All of the Services
performed by BRW pursuant to this subparagraph (i) shall be done without
cost to HRA and shall be done as often as is necessary to obtain bids for
all the Improvements that are bid pursuant to this paragraph 2.e. that do
not exceed the budget for that Improvement prepared pursuant to paragraph
2.6. hereof.
3. Optional Work Tasks by BRW. BRW also agrees, when, in such
order, and to such extent as the HRA from time to time shall request in
writing, to perform additional services (the "Optional Services") as follows:
a. Inspection of Landscape Elements. Qualified personnel
selected by BRW shall inspect the installation of the various landscape
elements, to ensure compliance with the plans and specifications, including
determination of the quality of plant material and construction materials
and verification of quantities. Such inspections shall be made as often
as HRA shall request. A written report shall be given to HRA within five
(5) days after each inspection, detailing the items inspected, whether the
plans and specifications are being complied with, recommendations, if any,
for additional work by the contractor, and containing such other information
as the HRA may request.
-5-
b. Inspection of Improvements Not Related to Landscaping. '
Qualified personnel selected by BRW shall inspect the installation and con-
struction of the various Improvements not related to landscaping, to ensure
compliance with the plans and specifications, including determination of the
quality of work and construction materials and verification of quantities.
Such inspections shall be made as often as ERA shall request. A written
report shall be given to ERA within five (5) days after each inspection,
detailing the items inspected, whether the plans and specifications are
being complied with, recommendations, if any, for additional work by the con—
tractor, and containing such other information as the ERA may request.
c. Construction Management. Qualified personnel selected by
BRW and approved in writing by ERA shall assume responsibility for overall
control and scheduling of all construction work in the Project Area or for
such portion of such work as shall be designated by the ERA, including
coordination among the various contractors doing work on the Improvements,
private contractors, property owners, and business operators. All possible
efforts shall be made by BRW to minimize the temporary impact on business
in the area during the construction of the Improvements for which it has
assumed control and scheduling responsibility pursuant hereto. BRW also
shall prepare and issue certificates for payment of moneys due to contractors
on Improvements for which BRW has assumed responsibility pursuant hereto
and shall prepare any change orders required during the construction of such
Improvements. The issuance of a certificate for payment shall constitute a
representation by BRW to HRA that the work has progressed to the point indi-
cated in the certificate, that to the best of the knowledge, information,
-6-
and belief of BRW, the quality of the work is in accordance with the contract
documents (subject to the results of any subsequent tests required by the
contract documents, to minor deviations from the contract documents correc-
table prior to completion, and to any specific qualifications stated in the
certificate for payment), and that the contractor is entitled to payment in
the amount certified.. By issuing a certificate for payment, BRW shall not
be deemed to represent that it has made any examination to ascertain how and
for what purpose the contractor has used the moneys paid.
4. Timetable for Furnishing of Services.
a. The feasibility report to be done pursuant to paragraph 1
hereof shall be commenced immediately upon execution of this agreement and
shall be completed by not later than April 10 , 1975.
b. The design development work, to the extent requested by
ERA to be done pursuant to paragraph 2.c. hereof, shall be done within one (1)
year from the date written request is given to BRW to begin such work.
c. The- parties hereto understand and agree that, as to all
other work to be done hereunder by BRW, an exact time schedule for the per-
formance of the outlined services cannot be prepared at this time, due to
the unknown time requirements for other activities such as acquisition of
properties, and reviews and approvals by HRA. When any specific service is
requested, a detailed schedule for that service will be prepared to the sat-
isfaction of the HRA. In general, it is anticipated that all of the Improve-
ments will be designed and constructed over the 1975 and 1976 construction
seasons.
-7-
• 5. Fees, Payments, Reimbursable.Costs.
a. HRA shall pay to BR+J the-amounts set out below for the .
respective Services performed pursuant hereto:
(i) For the Feasibility Report . .... . .. .. ..... $10,000
(ii) For General Consultation pursuant to
paragraph 2.a. hereof . . . .. ...: 5,500
(iii) For the Design Framework pursuant to
paragraph 2.b. hereof . . . . ...... ...... . .... ... 8,800
(iv) For the Design Development work pursuant
to paragraph 2.c. hereof . . . . .. . . ... . ..... 20,000
(v) For the Construction Documents pursuant
to paragraph 2.d. hereof . . . . .. .. ... . 23,000
• _ j
(vi) For the Bidding Services pursuant to 1,500
paragraph 2.e. hereof .. . . . . ..
b. For the Optional Services, HRA shall pay on an hourly basis,
• as follows:
Principal $ 35
Associate .30
Registered Engineer/Landscape Architect .25
Senior Inspector (Technician) 20
Inspector 16
Three- Ian Survey Crew 40
Two-:Ian Survey Crew 31.
Because the exact extent of the Optional Services are dependent upon a future
determination by the HRA as to the need for and extent of such services, no
estimates or maximum amounts of fees for Optional Services are stated herein.
At such time as any of the Optional Services are requested by the HRA, a
supplemental proposal will be provided, indicating the estimated hours and
a maximum fee that will not be exceeded for the service then requested.
c. Payments. The HRA shall pay such amounts as are to be
paid to BRW hereunder, as follows:
(i) For the feasibility report, payment shall be made
upon completion of the report and acceptance thereof by the HRA.
(ii) Partial payments shall be made on a monthly basis
for all Services and Optional Services rendered during the prior month.
BRW shall submit to HRA a payment request for the month for which payment
is to be made, listing the Services and Optional Services performed during
that month, the hours worked by each classification of employee performing
the services, the current percentage of completion of the respective services,
and the basis for such completion determination. If costs and expenses are
also included in the payment request, a receipt or paid invoice or other
evidence of payment of such cost or expense, reasonably acceptable to the.
HRA, shall accompany such payment request.
(iii) The HRA shall pay ninety (90%) percent of the services
in each such monthly payment request and one hundred (100%) percent of the
costs and expenses included in the request, such payment to be made as soon
as reasonably possible after such payment request is given to the HRA.
(iv) Upon completion of the service for which payment is
then being made, as evidenced by the payment request of BRW, and upon agree-
ment by the HRA that such services are complete, the balance of payment to
be made for that service, including the ten (10%) percent holdback, shall be
paid to BRW, without interest.
-9-
d: Reimbursable Costs. The ILRA further agrees to pay to BRW
monthly, with, and in addition to, the monthly payment made pursuant to
paragraph 5.c. , the following costs and expenses, provided such costs
and expenses are approved in writing by the HRA as to estimated cost,
extent of the work or service, and the person to perform it, prior to
the cost or expense being incurred or committed to:
(i) Soils investigations prior to construction of any
Improvements;
(ii) Soils and materials testing during construction;
(iii) Travel outside of the Metropolitan Area, at the writ-
ten request of the HRA, and subsistence while so traveling;
(iv) Reproduction costs in excess of the cost to reproduce
30 sets of the feasibility report prepared pursuant to paragraph 1 hereof,
30 sets of design development drawings and documents prepared pursuant to
paragraph 2.c. hereof, and 300 sets of design framework booklets prepared
pursuant to paragraph 2.b. hereof, and 30 sets of construction documents
furnished pursuant to paragraph 2.d. hereof.
6. Subcontracting-. All of the work to be done by BRW pursuant to
this agreement shall be performed by it and shall not be subcontracted, nor
shall any subconsultants be employed, by BRW without the prior written consent
of HRA. BRW shall be fully responsible for all of the work performed by its
subcontractors and its subconsultants notwithstanding that the HRA has required
that its consent be given, and has, in fact, given such consent.
-10-
7. Notices. All notices, reports, or demands required or per-
mitted to be given under this agreement shall be in writing and shall be
deemed to be given when delivered personally to any officer of the party to
which notice is being given, or when deposited in the United States mail
in a sealed envelope, with registered or certified mail postage prepaid thereon,
addressed to the parties at the following addresses:
To HRA: 4801 West 50th Street
Edina, Minnesota 55424
Attention: Executive Director
To BRW: 7101 York Avenue South
Edina, Minnesota 55435.
Such addresses may be changed by either party upon notice to the other party
given as herein provided.
8. Ownership of Documents. All drawings, maps, plans, studies,
surveys, and other documents prepared or obtained by BRW pursuant to or as
a result of this agreement shall belong to and be the property of the HRA,
and shall be delivered over to the HRA upon termination of this agreement,
or upon written request of the HRA made at any time prior to or after ter-
mination.
9. Successors and Assigns; Assignment. This agreement shall be
binding on and inure to the benefit of the HRA and BR[d, and their respective
successors and assigns. Provided, however, that BRW shall not assign, sub-
contract, or transfer its interest in or duties under this agreement, in
whole or in part, nor for any period of time, without the prior written
consent of the HRA.
-11- '
IN 14ITNESS WHEREOF, the parties hereto have hereunto set their
hands and seals the day and year first above written.
HOUSING AND REDEVELOPMENT AUTHORITY
OF EDINA, MINNESOTA
by
Its
and
Its
BATHER, RINGROSE, .WOLSFELD,. INC.
by
Its
and
Its
STATE OF ?MINNESOTA )
SS.
COUNTY OF HENNEPIN )
--The foregoing instrument was acknowledged before me this
day of 1975, by and
as and
respectively, of the HOUSING AND REUEVELOPNENT
AUTHORITY Or EDINA, NMIMIESOTA.
STATE OF MINNESOTA )
SS.
COUNTY' OF i ENNEPIid )
The foregoing instrument, was acknowledged before me this
day of 1975, by _ and
_ as — and
respectively, of BATHER, RI":GROSE, G:OLSFELD,
INC. --
-12-
TAX INCRE ANT PLEDGE AGREEMENT
(50th and France Commercial Area)
THIS AGREEMENT, made this day of 1975,
by and between the Housing and Redevelopment Authority of Edina, Minnesota,
a body politic and corporate under the laws of the State of Minnesota, party
of the first part (the "Authority") , and the City of Edina, a municipal cor-
poration under the laws of the State of Minnesota, party of the second part,
(the "City") ;
WITNESSETH THAT:
WHEREAS, under and pursuant to the provisions of Minn. Stat. ,
Sec. 462.521, the Authority applied to the City Council of the City for
approval of the undertaking of an urban renewal project in the 50th and France
area of Edina, Minnesota (the "Project Area") ,pursuant to a redevelopment
plan entitled "50th & France Commercial Area Plan," dated December 3, 1974
(the "Plan") , which Plan includes a statement of the method proposed for financing
the Project, which application was accompanied by the written opinion of the
City Planning Commission thereon dated December 11, 1974; and
WHEREAS, Findings and Determinations by, and Resolutions of, the
City Council adopted December 16, 1974, after published notice and public
hearing as required by law, the City Council found, among other findings, that
the land in the Project Area would not be made available for redevelopment
without the financial aid to be sought, that the Plan will afford maximum
opportunity, consistent with the sound needs of the locality as a whole, for
the redevelopment and urban renewal of the Project Area by private enterprise,
and that the Plan conforms to a general plan for the development of the
locality as a whole, and by said Resolutions the City Council approved said
Plan; and
WHEREAS, the City Council, by said Resolutions adopted December 16,
1974, also approved the use of tax increment financing in the Project Area; and
WHEREAS, under and pursuant to the provisions of Minn. Stat. , Sec.
462.585, Subd. 2 and 3, the Authority, by letter dated December 17, 1974,
requested the County Auditor of Hennepin County to certify the assessed valu-
ation of all taxable real property within said Project Area as then most
recently determined, for the purpose of determining the original taxable
value of the property within the Project Area, and of all tax increments to
be remitted to the Authority, all as set out in, and as determined by, Minn.
Stat. Sec:. 462.585; and
WHEREAS, in order to pay the public redevelopment cost of the
Project, including interest thereon, the Authority will hereafter, from time
to time, request the City Council to issue general obligation bonds of the
City in aid of the Project, pursuant to the provisions of Minn. Stat. , Sec. .
462.581, and Chap. 475; and
WHEREAS, under and pursuant to Minn. Stat. , Sec. 462.585, Subd. 4,
the Authority is authorized to pledge and appropriate any part or all of the
tax increments received for the Project, and any part or all of the revenues
received from lands in the Project Area while owned by the Authority, for the
payment of the principal of and interest on such bonds issued by the City,
and to enter into this Agreement with the City Council respecting such pledge.
-2-
i
NOW, THEREFORE, the Authority and the City mutually covenant and
agree as follows:
1. The City agrees, from time to time, upon written request of the
Authority, to issue and sell bonds, in such amounts as the Authority may
request, for the payment of the public redevelopment cost of the Project,
as defined by Minn. Stat. , Sec. 462.545, Subd. 1, subject, however, to a
determination being made by the City Council at the time of each such request
that the amount of bonds then requested, with interest, and all prior bonds,
with interest, then issued pursuant hereto, can be fully repaid according to
the terms of the respective bond issues from the tax increments and revenues
hereby pledged.
2. The Authority, in support of each such request, shall submit
a then current statement as to costs incurred and estimated to be incurred,
and tax increments and revenues received and estimated to be received, from
the inception to the completion of the Project, and such other financial
data as the City Council may q PP request to support the bond issue then requested
by the Authority.
3. All proceeds of bonds issued by the City pursuant hereto, all
revenues and tax increments with respect to the Project that are received by
the City from the Authority, and all income from the investment thereof,
shall be segregated by the City in a special fund, which shall be used by the
City solely for the payment of the principal of and interest on said bonds
and for the payment of the public redevelopment cost of the Project.
4. The Authority pledges and appropriates all of the tax increments
to be received for the Project, and all of the revenues received from lands
in the Project Area while owned by the Authority, for the payment of the prin-
cipal of and interest on bonds issued by the .City pursuant hereto, and agrees
-3-
to segregate all such tax increments and revenues in a special account on
its official books and records, and to cause them, as received, to be credited
and remitted to said special fund of the City. On or prior to the date of
certification of City taxes in each year for collection by the County, the
City Treasurer shall transfer from said fund to the sinking fund maintained
for the payment of said bonds, under the provisions of Minn. Stat., Sec.
475.61, an amount sufficient to pay all principal and interest then due and to
become due in the following year on said bonds. All other moneys in the special
fund of the City, over and above that required for transfer to said sinking
fund, shall be paid to the Authority upon requisition by the Authority, in
payment or reimbursement of the public redevelopment cost of the Project.
5. When the entire public redevelopment cost of the Project has
• been paid, including interest, and including payment, or provision of a balance
in the sinking fund sufficient for the payment, of all principal and interest
on bonds issued by the City pursuant hereto,. the Authority shall report such
fact to the City Council and shall submit a final statement of the public
redevelopment cost, with interest, tax increments, and revenues. Upon approval
of such report by the City Council, the payment of the public redevelopment
cost shall be reported to the County Auditor.
6. An executed copy of this Agreement shall be filed with the County
Auditor of Hennepin County, and shall constitute the request and authorization
of the Authority and the City to the County Auditor and Treasurer to compute,
collect, segregate, and remit said tax increments in accordance with the
provisions of this agreement and of :Minn. Stat. , Sec: 462.585, Subd. 2 through
'+, inclusive.
-4-
IN WITNESS GTHEREOF, the City and the Authority have caused. this
Agreement to be duly executed on their behalf and their seals to be hereunto
affixed and such signatures and seals to be attested, as of the day and year
first above written.
THE HOUSING AND REDEVELOPMENT AUTHORITY
OF EDINA, MINNESOTA
by
Its
and _.
Its
CITY OF EDINA
by
Its Mayor
and
Its Manager.
STATE OF 1111NIINESOTA )
SS.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this
day of 1975, by and
as and
respectively, of the Housing and Redevelopment
Authority of Edina, Minnesota.
-5-
STATE OF MINNESOTA )
) SS.
COUNTY OF HENNEPIN )
The foregoing instrument was acknowledged before me this
day of , 1975, by JAMES VAN VALKENBURG and WARREN C. HYDE,
as Mayor and Manager, respectively, of the City of Edina.
-6-