5.1. SR 08-15-2005
Item 5.1..
,
MEMORANDUM
TO:
Mayor and City Council
Heidi Steinmetz, Assistant Director of Economic Development ~0
DATE: August 15, 2005
FROM:
SUBJECT: Public Hearings: Consider Resolutions Authorizing Execution of Tax
Abatement and Business Subsidy Agreements with Alliance Machine,
Crystal Distribution, Medical Extrusion Technologies and Classic
Acrylics
Attachments
· Resolutions Approving Property Tax Abatement & Business Subsidy Agreements
· Public Hearing Notices, Elk River Star News, August 3, 2005
· Memo from Sid Inman of Ehlers & Associates dated August 3, 2005
. N orthstar Business Park Plat
. Elk River Business Park Site Plan
Background
EDA Review
On July 11th and August 8th, the EDA reviewed the use of Tax Rebate Financing (Abatement) for
the following projects:
· Provo Enterprises, LLC (Alliance Machine, Inc.)
. O'Brien Holdings, LLC (Crystal Distribution, Inc.)
· Medical Extrusion Technologies, Inc. or a related entity
. RST Cayo, LLC (Classic Acrylics, Inc.)
OnJuly 11th, the EDA recommended that the City Council call a public hearing for August 15th to
consider the attached Resolutions authorizing the use of Abatement for each project. The
attached public hearing notices appeared in the Elk River Star News on August 3rd.
On August 8t\ the EDA reviewed detailed Abatement analyses, including the attached "but
for" analysis and recommended that City Council approve the use of Abatement for each project.
Public Hearings: Consider Resolutions Authorizing Execution of Tax Abatement and Business Subsidy Agreements for Alliance Machine, , Crystal
Distribution, Medical Extrusion Technologies and Classic Acrylics
August 15, 2005 City Council Meeting
Page 2 of 3
Sherburne County Review
On July 27th, the Sherburne County Economic Development Alliance (SCEDA) recommended that
the Sherburne County Board of Commissioners call a public hearing for August 16th to consider
matching the City's Abatement amount for each project.
Project Summaries
Nature of Business
City Assistance
Assistance Applied to
Abatement Years
Building Size
Lot Size
Jobs Retained
Jobs Created
Nature of Business
City Assistance
Assistance Applied to
Abatement Years
Building Size
Lot Size
Jobs Retained
Jbbs Created
Nature of Business
City Assistance
Assistance Applied to
Abatement Years
Building Size
Lot Size
Jobs Created
Alliance Machine. Inc.
Light, precision machining of plastic and metal components for national and
international clients in the aerospace, medical, defense and computer
industries
$103,978 to Provo Enterprises, LLC who will lease the property to Alliance
Machine, Inc.
50% of the land cost
1 0 (estimated)
18,000 SF
2.84 acres to accommodate a 10,000 SF expansion (see attached map)
30 ($20 average hourly wage)
9 ($15 minimum hourly wage)
Crystal Distribution. Inc.
Sheet metal fabrication for custom curb adapters used to replace existing
roof top equipment with new roof top equipment sold to heating, ventilation
and air conditioning distributors across the nation into Canada
$138,470 to O'Brien Holdings, LLC, who will lease the property to Crystal
Distribution, Inc.
50% of the land cost
12 (estimated)
30,000 SF
3.7 acres to accommodate a 12,000 SF expansion (see attached map)
31 ($20 average hourly wage)
15 ($15 minimum hourly wage)
Medical Extrusion Technologies. Inc.
Plastic tubing and profiles for medial, commercial, telecommunications and
recreational applications
$114,998 to the company or a related entity
50% of the land cost
15 (estimated)
20,000 SF
2.64 acres in which the company would occupy 50% of the space and lease
out the balance (see attached map)
23 ($15 minimum hourly wage)
Public Hearings: Consider Resolutions Authorizing Execution of Tax Abatement and Business Subsidy Agreements for Alliance Machine, , Crystal
Distribution, Medical Extrusion Technologies and Classic Acrylics
August 15, 2005 City Council Meeting
Page 3 of 3
Nature of Business
City Assistance
Classic Acrylics. Inc.
Custom plastic fabrication for point-of-purchase displays
$75,000 to RST Cayo, LLC who will lease the property to Classic Acrylics,
Inc.
Approx. 39.5% of the land cost
1 0 (estimated)
20,000 SF
2.48 acres to accommodate a 5,000 SF expansion (see attached map)
13 ($15 average hourly wage)
5 ($15 minimum hourly wage)
Assistance Applied to
Abatement Years
Building Size
Lot Size
Jobs Retained
Jobs Created
Action Requested
Staff recommends that the City Council consider approving the attached Resolutions Authorizing
Execution of Tax Abatement and Business Subsidy Agreements with each of the following
compames:
. Provo Enterprises, LLC (Alliance Machine, Inc.)
. O'Brien Holdings, LLC (Crystal Distribution, Inc.)
. Medical Extrusion Technologies, Inc. or a related entity
. RST Cayo, LLC (Classic Acrylics, Inc.)
EXTRACT OF MINUTES OF MEETING
OF THE CITY COUNCIL OF THE
CITY OF ELK RIVER, MINNESOTA
HELD: August 15,2005
Pursuant to due call and notice thereof, a meeting of the City Council of the City of Elk
River, Sherburne County, Minnesota, was duly called and held at the City Hall in said City on
Monday, the 15th day of August, 2005, at 6:30 o'clock p.m.
The following members were present:
and the following were absent:
Member
adoption:
introduced the following resolution and moved its
RESOLUTION AUTHORIZING EXECUTION OF
A TAX ABATEMENT AND BUSINESS SUBSIDY AGREEMENT
BE IT RESOLVED by the City Council (the "Council") of the City of Elk River,
Minnesota (the "City"), as follows:
1. , Recitals.
(a) CProvo Enterprises. LLC)(the "Developer") proposes to construct an
approximately 18,000 square foot light industrial facility in the City (the "Project"). The
Developer has requested that the City provide financial assistance to the Developer for
the Proj ect. The City proposes to use the abatement for the purposes provided for in the
Abatement Law (as hereinafter defined), including the Project. The proposed term of the
abatement will be for up to fifteen years in an amount not to exceed $183,218. The
abatement will apply to 100% of the City's share of the property taxes (the "Abatement")
derived from the property described as Lot 3, Block 1, Northstar Business Park (the
"Property").
(b) The Developer and the City have determined to enter into a Tax
Abatement and Business Subsidy Agreement providing for the City's tax abatement
assistance for the Project (the "Agreement").
(c) On the date hereof, the Council held a public hearing on the question of
the Abatement and business subsidy, and said hearing was preceded by at least 10 days
but not more than 30 days prior published notice thereof.
(d) The Abatement is authorized under Minnesota Statutes, Sections 469.1812
through 469.1815 (the "Abatement Law").
1793238v2
2. Findings for the Abatement. The City Council hereby makes the following
findings:
(a) The Council expects the benefits to the City of the Abatement to at least
equal or exceed the costs to the City thereof.
(b) Granting the Abatement is in the public interest because it will increase or
preserve the tax base of the City and provide employment opportunities in the City.
( c) The Property is not located in a tax increment financing district.
(d) In any year, the total amount of property taxes abated by the City by this
and other resolutions does not exceed the greater of ten percent (10%) of the current levy
or $200,000.
3. Terms of Abatement. The Abatement is hereby approved; provided, however,
this approval is contingent upon the approval by Sherburne County of an
abatement program for the Project upon the same terms as set forth below for the
County's share of property tax amount which the County receives from the
Property. The terms ofthe Abatement are as follows:
(a) The Abatement shall be for up to fifteen (15) years and shall apply to the
taxes payable in the years 2008 through 2022, inclusive.
(b) The City will abate 100% of the City's share of the property tax amount
which the City receives from the Property, not to exceed $183,218; provided that the
Developer will be paid 90% of the City's share of the annual property tax amount which
the City receives from the Property not to exceed $103,978.
(c) The Abatement shall be subject to all the terms and limitations of the
Abatement Law.
(d) The Abatement may not be modified or changed during its term.
4. Approval of Tax Abatement and Business Subsidy Agreement.
(a) The City Council hereby approves a Tax Abatement and Business Subsidy
Agreement with the Developer providing for payment of the Abatement and the City's
assistance for the Project in substantially the form submitted, and the Mayor and
Administrator are hereby authorized and directed to execute the Tax Abatement and
Business Subsidy Agreement on behalf of the City.
(b) The approval hereby given to the Tax Abatement and Business Subsidy
Agreement includes approval of such additional details therein as may be necessary and
appropriate and such modifications thereof, deletions therefrom and additions thereto as
may be necessary and appropriate and approved by the City officials authorized by this
resolution to execute the Agreement. The execution of the Agreement by the appropriate
officer or officers of the City shall be conclusive evidence of the approval of the
Agreement in accordance with the terms hereof.
1793238v2 2
The motion for the adoption of the foregoing resolution was made by member
and duly seconded by member and, upon a vote being
taken thereon after full discussion thereof, the following voted in favor thereof:
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
1793238v2
3
STATE OF MINNESOTA )
) SS
COUNTY OF SHERBURNE)
I, the undersigned, being the duly qualified and acting Clerk of the City of Elk River,
Minnesota (the "City"), by reason of my office as Clerk, DO HEREBY CERTIFY that I have
compared the attached and foregoing extract of minutes with the original thereof on file in my
office, and that the same is a full, true and complete transcript of the minutes of a meeting of the
City Council of the City, duly called and held on the date therein indicated, insofar as such
minutes relate to property tax abatements and business subsidy for the Provo Enterprises, LLC
Project.
WITNESS my hand this _ day of August, 2005.
City Clerk
1793238v2
EXTRACT OF MINUTES OF MEETING
OF THE CITY COUNCIL OF THE
CITY OF ELK RIVER, MINNESOTA
HELD: August 15,2005
Pursuant to due call and notice thereof, a meeting of the City Council of the City of Elk
River, Sherburne County, Minnesota, was duly called and held at the City Hall in said City on
Monday, the 15th day of August, 2005, at 6:30 o'clock p.m.
The following members were present:
and the following were absent:
Member
adoption:
introduced the following resolution and moved its
RESOLUTION AUTHORIZING EXECUTION OF
A TAX ABATEMENT AND BUSINESS SUBSIDY AGREEMENT
BE IT RESOLVED by the City Council (the "Council") of the City of Elk River,
Minnesota (the "City"), as follows:
1. Recitals.
(a) @Brien Holdings, LLC) (the "Developer") proposes to construct an
approximately 30,000 square foot light industrial facility in the City (the "Project"). The
Developer has requested that the City provide financial assistance to the Developer for
the Project. The City proposes to use the abatement for the purposes provided for in the
Abatement Law (as hereinafter defined), including the Project. The proposed term of the
abatement will be for up to fifteen years in an amount not to exceed $191,663. The
abatement will apply to 100% of the City's share of the property taxes (the "Abatement")
derived from the property described as Lot 2, Block 1, Northstar Business Park (the
"Property").
(b) The Developer and the City have determined to enter into a Tax
Abatement and Business Subsidy Agreement providing for the City's tax abatement
assistance for the Project (the "Agreement").
(c) On the date hereof, the Council held a public hearing on the question of
the Abatement and business subsidy, and said hearing was preceded by at least 10 days
but not more than 30 days prior published notice thereof.
(d) The Abatement is authorized under Minnesota Statutes, Sections 469.1812
through 469.1815 (the "Abatement Law").
1793237v2
2. Findings for the Abatement. The City Council hereby makes the following
findings:
(a) The Council expects the benefits to the City of the Abatement to at least
equal or exceed the costs to the City thereof.
(b) Granting the Abatement is in the public interest because it will increase or
preserve the tax base of the City and provide employment opportunities in the City.
(c) The Property is not located in a tax increment financing district.
(d) In any year, the total amount of property taxes abated by the City by this
and other resolutions does not exceed the greater of ten percent (10%) of the current levy
or $200,000.
3. Terms of Abatement. The Abatement is hereby approved; provided, however,
this approval is contingent upon the approval by Sherburne County of an
abatement program for the Project upon the same terms as set forth below for the
County's share of property tax amount which the County receives from the
Property. The terms ofthe Abatement are as follows:
(a) The Abatement shall be for up to fifteen (15) years and shall apply to the
taxes payable in the years 2008 through 2022, inclusive.
(b) The City will abate 100% of the City's share of the property tax amount
which the City receives from the Property, not to exceed $191,663; provided that the
Developer will be paid 90% of the City's share of the annual property tax amount which
the City receives from the Property not to exceed $138,470.
(c) The Abatement shall be subject to all the terms and limitations of the
Abatement Law.
(d) The Abatement m.ay not be modified or changed during its term.
4. Approval of Tax Abatement and Business Subsidy Agreement.
(a) The City Council hereby approves a Tax Abatement and Business Subsidy
Agreement with the Developer providing for payment of the Abatement and the City's
assistance for the Project in substantially the form submitted, and the Mayor and
Administrator are hereby authorized and directed to execute the Tax Abatement and
Business Subsidy Agreement on behalf of the City.
(b) The approval hereby given to the Tax Abatement and Business Subsidy
Agreement includes approval of such additional details therein as may be necessary and
appropriate and such modifications thereof, deletions therefrom and additions thereto as
may be necessary and appropriate and approved by the City officials authorized by this
resolution to execute the Agreement. The execution of the Agreement by the appropriate
officer or officers of the City shall be conclusive evidence of the approval of the
Agreement in accordance with the terms hereof.
1793237v2 2
The motion for the adoption of the foregoing resolution was made by member
and duly seconded by member and, upon a vote being
taken thereon after full discussion thereof, the following voted in favor thereof:
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
1793237v2
3
STATE OF MINNESOTA )
) SS
COUNTY OF SHERBURNE)
I, the undersigned, being the duly qualified and acting Clerk of the City of Elk River,
Minnesota (the "City"), by reason of my office as Clerk, DO HEREBY CERTIFY that I have
compared the attached and foregoing extract of minutes with the original thereof on file in my
office, and that the same is a full, true and complete transcript of the minutes of a meeting of the
City Council of the City, duly called and held on the date therein indicated, insofar as such
minutes relate to property tax abatements and business subsidy for the O'Brien Holdings, LLC
Project.
WITNESS my hand this _ day of August, 2005.
City Clerk
1793237v2
EXTRACT OF MINUTES OF MEETING
OF THE CITY COUNCIL OF THE
CITY OF ELK RIVER, MINNESOTA
HELD: August 15,2005
Pursuant to due call and notice thereof, a meeting of the City Council of the City of Elk
River, Sherburne County, Minnesota, was duly called and held at the City Hall in said City on
Monday, the 15th day of August, 2005, at 6:30 o'clock p.m.
The following members were present:
and the following were absent:
Member
adoption:
introduced the following resolution and moved its
RESOLUTION AUTHORIZING EXECUTION OF
A TAX ABATEMENT AND BUSINESS SUBSIDY AGREEMENT
BE IT RESOLVED by the City Council (the "Council") of the City of Elk River,
Minnesota (the "City"), as follows:
1. Recitals.
(a) ~dicai Extrusion Technologies, ~or a related entity (the "Developer")
proposes to construct an approximately 20,000 square foot light industrial facility in the
City (the "Project"). The Developer has requested that the City provide financial
assistance to the Developer for the Project. The City proposes to use the abatement for
the purposes provided for in the Abatement Law (as hereinafter defined), including the
Project. The proposed term of the abatement will be for up to fifteen years in an amount
not to exceed $127,716. The abatement will apply to 100% of the City's share of the
property taxes (the "Abatement") derived from the property described as Lot 2, Block 2,
Northstar Business Park (the "Property").
(b) The Developer and the City have determined to enter into a Tax
Abatement and Business Subsidy Agreement providing for the City's tax abatement
assistance for the Project (the "Agreement").
(c) On the date hereof, the Council held a public hearing on the question of
the Abatement and business subsidy, and said hearing was preceded by at least 10 days
but not more than 30 days prior published notice thereof.
(d) The Abatement is authorized under Minnesota Statutes, Sections 469.1812
through 469.1815 (the "Abatement Law").
1792383v2
2. Findings for the Abatement. The City Council hereby makes the following
findings:
(a) The Council expects the benefits to the City of the Abatement to at least
equal or exceed the costs to the City thereof.
(b) Granting the Abatement is in the public interest because it will increase or
preserve the tax base of the City and provide employment opportunities in the City.
(c) The Property is not located in a tax increment financing district.
(d) In any year, the total amount of property taxes abated by the City by this
and other resolutions does not exceed the greater often percent (10%) of the current levy
or $200,000.
3. Terms of Abatement. The Abatement is hereby approved; provided, however,
this approval is contingent upon the approval by Sherburne County of an
abatement program for the Project upon the same terms as set forth below for the
County's share of property tax amount which the County receives from the
Property. The terms ofthe Abatement are as follows:
(a) The Abatement shall be for up to fifteen (15) years and shall apply to the
taxes payable in the years 2008 through 2022, inclusive.
(b) The City will abate 100% of the City's share of the property tax amount
which the City receives from the Property, not to exceed $127,716; provided that the
Developer will be paid 90% of the City's share of the annual property tax amount which
the City receives from the Property not to exceed $114,998.
(c) The Abatement shall be subject to all the terms and limitations of the
Abatement Law.
(d) The Abatement may not be modified or changed during its term.
4. Approval of Tax Abatement and Business Subsidy Agreement.
(a) The City Council hereby approves a Tax Abatement and Business Subsidy
Agreement with the Developer providing for payment of the Abatement and the City's
assistance for the Project in substantially the form submitted, and the Mayor and
Administrator are hereby authorized and directed to execute the Tax Abatement and
Business Subsidy Agreement on behalf of the City.
(b) The approval hereby given to the Tax Abatement and Business Subsidy
Agreement includes approval of such additional details therein as may be necessary and
appropriate and such modifications thereof, deletions therefrom and additions thereto as
may be necessary and appropriate and approved by the City officials authorized by this
resolution to execute the Agreement. The execution of the Agreement by the appropriate
officer or officers of the City shall be conclusive evidence of the approval of the
Agreement in accordance with the terms hereof.
1792383v2 2
The motion for the adoption of the foregoing resolution was made by member
and duly seconded by member and, upon a vote being
taken thereon after full discussion thereof, the following voted in favor thereof:
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
1792383v2
3
STATE OF MINNESOTA )
) SS
COUNTY OF SHERBURNE)
I, the undersigned, being the duly qualified and acting Clerk of the City of Elk River,
Minnesota (the "City"), by reason of my office as Clerk, DO HEREBY CERTIFY that I have
compared the attached and foregoing extract of minutes with the original thereof on file in my
office, and that the same is a full, true and complete transcript of the minutes of a meeting of the
City Council of the City, duly called and held on the date therein indicated, insofar as such
minutes relate to property tax abatements and business subsidy for the Medical Extrusion
Technologies, Inc. Project.
WITNESS my hand this _ day of August, 2005.
City Clerk
1792383v2
EXTRACT OF MINUTES OF MEETING
OF THE CITY COUNCIL OF THE
CITY OF ELK RIVER, MINNESOTA
HELD: August 15,2005
Pursuant to due call and notice thereof, a meeting of the City Council of the City of Elk
River, Sherburne County, Minnesota, was duly called and held at the City Hall in said City on
Monday, the 15th day of August, 2005, at 6:30 o'clock p.m.
The following members were present:
and the following were absent:
Member
adoption:
introduced the following resolution and moved its
RESOLUTION AUTHORIZING EXECUTION OF
A TAX ABATEMENT AND BUSINESS SUBSIDY AGREEMENT
BE IT RESOLVED by the City Council (the "Council") of the City of Elk River,
Minnesota (the "City"), as follows:
1. Recitals.
(a) eRST Cayo, LLO:the "Developer") proposes to construct an approximately
20,000 square foot light industrial facility in the City (the "Project"). The Developer has
requested that the City provide financial assistance to the Developer for the Project. The
City proposes to use the abatement for the purposes provided for in the Abatement Law
(as hereinafter defined), including the Project. The proposed term of the abatement will
be for up to ten years in an amount not to exceed $75,000. The abatement will apply to
100% of the City's share of the property taxes (the "Abatement") derived from the
property described as Lot 5, Block 1, Elk River Business Park (the "Property").
(b) On the date hereof, the Council held a public hearing on the question of
the Abatement, and said hearing was preceded by at least 10 days but not more than 30
! days prior published notice thereof.
(c) The Abatement is authorized under Minnesota Statutes, Sections 469.1812
through 469.1815 (the "Abatement Law").
2. Findings for the Abatement. The City Council hereby makes the following
findings:
(a) The Council expects the benefits to the City of the Abatement to at least
equal or exceed the costs to the City thereof.
1792515vl
(b) Granting the Abatement is in the public interest because it will increase or
preserve the tax base of the City and provide employment opportunities in the City.
(c) The Property is not located in a tax increment financing district.
(d) In any year, the total amount of property taxes abated by the City by this
and other resolutions, if any, does not exceed the greater of ten percent (10%) of the
current levy or $200,000.
3. Terms of Abatement. The Abatement is hereby approved; provided, however, the
this approval is contingent upon the approval by Sherburne County of an
abatement program for the Project upon the same terms as set forth below for the
County's share of property tax amount which the County receives from the
Property. The terms of the Abatement are as follows:
(a) The Abatement shall be for up to ten (10) years and shall apply to the
taxes payable in the years 2008 through 2017, inclusive.
(b) The City will abate and pay to the Developer 100% of the City's share of
property tax amount which the City receives from the Property, not to exceed $75,000.
( c) The Abatement shall be subject to all the terms and limitations of the
Abatement Law.
(d) The Abatement may not be modified or changed during its term.
4. Approval of Tax Abatement and Business Subsidy Agreement.
(a) The City Council hereby approves a Tax Abatement and Business Subsidy
Agreement with the Developer providing for payment of the Abatement and the City's
assistance for the Project in substantially the form submitted, and the Mayor and
Administrator are hereby authorized and directed to execute the Tax Abatement and
Business Subsidy Agreement on behalf of the City.
(b) The approval hereby given to the Tax Abatement and Business Subsidy
Agreement includes approval of such additional details therein as may be necessary and
appropriate and such modifications thereof, deletions therefrom and additions thereto as
may be necessary and appropriate and approved by the City officials authorized by this
resolution to execute the Agreement. The execution of the Agreement by the appropriate
officer or officers of the City shall be conclusive evidence of the approval of the
Agreement in accordance with the terms hereof.
1792515vl
2
The motion for the adoption of the foregoing resolution was made by member and
duly seconded by member and, upon a vote being taken thereon after
full discussion thereof, the following voted in favor thereof:
and the following voted against the same:
Whereupon said resolution was declared duly passed and adopted.
1792515vl
3
STATE OF MINNESOTA )
) SS
COUNTY OF SHERBURNE)
I, the undersigned, being the duly qualified and acting Clerk of the City of Elk River,
Minnesota (the "City"), by reason of my office as Clerk, DO HEREBY CERTIFY that I have
compared the attached and foregoing extract of minutes with the original thereof on file in my
office, and that the same is a full, true and complete transcript of the minutes of a meeting of the
City Council of the City, duly called and held on the date therein indicated, insofar as such
minutes relate to property tax abatements for the RST Cayo, LLC. Project.
WITNESS my hand this _ day of August, 2005.
City Clerk
1792515vl
:hnicalities.
ECIFICATIONS
:pecifications are on file and may
inspected or obtained, at the
ice, of, the Elk River Municipal
ilities" Elk River, Minnesota,
,ere is no charge for, specifica-
ns provided te ptospective bid-
es.
Elk River MuniCipal Utilities
Jerry Takle" President
Bryan Adams, P.E.
General Manager
, (Ag3-10)- '
,CITY OF OTSEGO
COUNTY OF WRIGHT'"
NOTICE-OF i'UBLIC
HEARING ,
['he Otsego Planning Commission
11 conduct a Public Hearing
Monday, 15 August 2005, at
)0 PM (or as soon after as time
rmits) at the Otsego City Hall,
;99 Nashua Avenue, NE, Otsego.
lplicant is the City of Otsego.
1e: request is as follows:
\..Amend .the Comprehensive
an to establish policies per-
ining to the to-be-constructed
verwood 'National Wastewater
'eatment Plant. '
ill i:qterested parties are invited
attend the Public Hearing to
press ,their questions, concerns
ld comments, If you would like
rther information regarding the
,ove described Publi,c Hearing,
ease' call the City of Otsego at
;3.441.4414 in advance of the
eeting.,
CITY OF OTSEGO
BY: Karee Rowell
Deputy City Clerk
(Ag3)
, CITY OF OTSEGO
COUNTY OF WRIGHT
NOTICE OF PUBLIC
, HEARING
!'he Otsego Planning Commission
ill conduct a Public Hearing
1 Monday, 15' AugUst 2005" at
00 PM (or as soon after as time
lrmitS) at the Otsego City Hall
199 Nashua Avenue NE, Otsego
oplicant is the Duke Realty
orporation, 1600 Utica Avenue
Juth" Suite 250, St, Louis Park
N 55416 on behalr of owners
Iloka Equine Property, LLC and
oIling Meadows Development
LC; The subject properties are
L8-500-352100 and 118-500
>3100 consisting of approximately
lO acres within Section 35, Range
~3, Township 121 located east
'TH 101 ,betw,een 60th Street
Ild 70th Street, The request is as
,Hows: '
A. Concept Plan -review for
mstruction bf approximately
200,000 square feet of industrial
Ild. business-warehousing uses
ithin multiple principal build
19S.
All interested parties are invited
) attend the Public Hearing to
~press their questions" concerns
Ild comments, If you would like
lrther information regarding the
bovedescribed Public' Hearing
;~;.f";,; t ..: l',' .,;":,,,,:-,.
Visitus,on the web atwww.erstarnews.com . Wednesday, August 3, 2001
PUBLIC NOTICES
plea:se' call the City of Otsego at
763.441.4414 in advance of the
meeting. -
, "
CITY OF OTSEGO
BY: Karee Rowell
, Deputy City Clerk
(Ag3)
"Company") that the City -grant
a business subsidy and abate to
the Company, or a related enti-
ty of the Company, 90% of 'the '
property taxes to be levied by
the City on 3.70 acres of Lot 2,
Block 1, Northstar Business Park
in the City (the "Property") for'
an approximately 30,000'square
foot light industrial facility (the
"Improvements") to be 'constructed
, by the Company. The total amount
,of the taxes proposed to be abated
by the City on the Property for a
fifteen year period is estimated to
be not more than $191,663. ,The
City Council will consider grant-
ing a property tax abatement in
response to the request.
Information about the proposed
tax abatements ,and business
subsidy and, a copy of the draft,
Tax Abatement and Business
Subsidy Agreement for the recipi-
ent are available for inspection
at the office of the'Director of the
Economic Development Authority
at the City Hall during regular
business hours. '
All interested persons may
appear at the August '15th public
hearing and present their views
orally or in writing. Anyone need-
ing reasonable accommodations or
an interpreter should contact ,the
City Clerk's office at the City Hall,
telephone (763) 635~1000.
(Ag3) ,
CITY OF ELK RIVER
NOTICE OF '
, PUBLIC HEARING
REGARDING PROPOSED
PROPERTY TAX ABATEMENTS
AND BUSINESS SUBSIDY FOR
THE 'PROVO ENTERPRISES,
LLC PROJECT,
NOTICE IS HEREBY GIVEN
.that the City CounCil of the City
of Elk River, Minnesota, will hold
a ,public hearing a~, a meeting of
the City Council beginning at 6:30
p.m., on Monday, August 15,2005,
to be held at City Ijall, Elk River,'
Minnesota, on the request of Provo
Enterprises, LLC (the "CompanY")
tnat the City grant a -business
suosidy and abate to the Cpmpany
90% of the, property taxes, to be
'levied by the City on 2.84 aCres of
Lot 3, Block 1, Northstar Business
in, the City (the "Property") for
an' approximately 18,000 square
foot light industrial facility (the
"Improvements") to be constructed
by the Company. The total amount
of the taxes proposed to be abated
by the City on the Property for a
fifteen year period is estimated to
be not more than $183,218. The
City Council will consider grant-
ing a property tax abatement in
response to the request.
Information about the proposed
tax abatements and business
subsidy and a copy of the draft
Tax Abatement and Business
Subsidy Agreement for therecipi-
ent are available for' inspection
at,the office' of the Director of the
EcononllC Development 'Authority
at,;theuCity Hall during ,regular
''-!_''r'''J~,i'''I''''''''.J, . "T"~ ;...._ '~-f;-}-:" i~..:. ',!;' ~ ,,_ ~ ," ~ ',-.... ; n._ ~! ;"-! " .
business hours.
All interested persons may
appear at the August 15th public
hearing and present their views
orally or in writing. Anyone need
ing reasonable accommodations or
an interpreter should contact the
City Clerk's office at the City Hall,
telephone (763) 6Q5-1000.
(Ag3) "
CITY OF ELK RIVER
NOTICE OF
PUBLIC HEARING
REGARDING PROPOSED
PROPERTY TAX ABATEMENTS
FOR THE RST CAYO, LLC
PROJECT '
NOTICE IS HEREBY GIVEN
'that the City CounCil of the City
of Elk River, Minnesota, will hold
. a public hearing at a meeting of
the City Council beginning at 6:30
p.m:, on, Monday, AUg1;lst 15,2005,
to be held at City Hall, Elk River;
Minnesota, on the request of RST
Cayo, LLC (the "Company") to have
the City abate to the Company
100% of the property taxes to be
levied by the City on 2.48 acres of
Lot, 5, Block 1, Elk River Business
Park in the City (the "Property") for
an approximately, 20,000 square
foot light industrial faCility (the
"Improvement~") to be constructed
by the Company. The total azp.ount
of the taxes proposed to be abated'
by- the City on the Property for
, a ten year period is estimated to
be not more than $75,000. The
City, Council will consider grant-
ing a property tax abatement in
,response to the request.
Information about the proposed
tax abatements and a copy of the
draft Tax Abatement Agreement
for the recipient are' avail-
able for inspection at 'the office
of the Director' of the ,Economic
Development Authority at'the
City Hall during regular business
hours'. '
All - interested p'ersons may
appear at the August 15th public
,hearing ,and present theit views
orally or in writing. Anyone need-
ing reasonable accommodations or
an inte,rpreter should contact the
City Clerk's office at the City Hall,
telephone (763) 635-1000.
, (Ag3)
ORDINANCE 05-16
CITY OF ELK RIVER
AN ORDINANCE OF THE CITY
OF ,ELK RIVER AMENDING
SECTION 30-793 - ACCESSORY
BUILDINGS o.FTHE CITY CODE
OF ORDINANCES
Case No. OA 05-09
. ,The City, CounCil of the City "of
Elk River does hereby ordain as
follows: " , '
Section 1.' Section 30-793 (D
,titled,. Accessory Buildings , of
the City of Elk River ,Code of ,
Ordinances shall be amended read'
as follows:
. SECTION 30-793. Accessory
Buildings ' , '
(D On lots less than 2 1/2 actes in
the' R-1b, R:1c, R-1d, R-1e and resi-
l".-,.. ..;.
CITY OF ELK RIVER
NOTICE OF
PUBLIC HEARING
REGARDING, PROPOSED
PROPERTY TAX ABATEMENTS, '
AND BUSINESS SUBSIDY FOR
THE MEDICAL EXTRUSION
TECHNOLOGIES, INC.
PROJECT
NOTICE IS HEREBY GIVEN
that the City Council of the City
<,>f Elk River, MiIiIiesota, will hold
a public hearing at a meeting
of the City CounCil beginning at
6:30 p.m;, on Monday, August 15,
2005;, to be held at City Hall, Elk
River, ,Minnesota, on the request
of Medical Extrusion ,Technologies,
Inc. (the "Company") that the
City grant a business subsidy and
abate to the Company, or a related
entity of the Company, 90% of the
property taxes, to be' levied by the
City on 2.64 aCres of Lot 2, Block 2,
Northstar Business Park located'
in, the, City (the "Property"), for
an apProximate~y 20,000 square
foot light industrial facility (the
"Improvements") to be constru,cted '
by the Company. The total amount
of the taxes proposed to be abated
by 'the City on the Property for a
fifteen year period is estimated to
be not more than $121,716. The
City - Councp. will consider grant-
ing a property tax abatement in
response to the request. ,
,Information about the proposed
tax abatements and business
subsidy and. a ,copy of the draft
"Tax Abatement and Business
, Subsidy Agreement for the reCipi-
'ent are available for inspection
at the office of the Director of the
Economic Development Authority
at the. City, Ha)l during ,regular
busiriess hours.
All interested persons may
appear at the August, 15th public
hearing and present their. views
orally or in writing. Anyone need-
ing reasonable 'accommodations or
an interpreter should contact the
City Clerk's office at the CIty Hall,
telephone (763) 635"1000.
(Ag3)
CITY OF ELK RIVER
NOTICE OF
PUBLIC HEARING
, REGARDING PROPOSED
PROPERTY TAX ABATEMENTS
AND BUSINESS SUBSIDY FOR
THE O'BRIEN HOLDINGS, LLC
PROJECT '
NOTICE IS HEREBY' GIVEN
that the City CounCil of the City
of Elk River, Minnesota, will hold
a public hearing at ,a meeting
of the City Council beginning at
6:30 p.m., on Monday, August 15,
2005, to be held at City Hall, Elk
'River, Minnesota, on the request
of O'Brien' Holdings, LLC(the
,;'':~,,~:.l :':i;-~,,:\ !--'I(~lfl~'.!:Y."~I;_-~ .t..'!.'J,";';~
,
dential PU
accessory 81
120 square
with wood,
siding, and!
and R-1a I
greater tha
R-1b R-1c
dendal PU
structures ,
metal pane
ing, metal !
Accessory
120 square
any zoning
finished wit
plastic mel
lowing exce
In the Rh
neered fabr
shall be all
lowing, cond
L The ,PI
greater.
ii. The 'a}:
building pe
shall meet t
requiremen
iii.The f
sidered pel
included in
of detachec
square foot
turecalculE
.iv. The st:
required a.
, backs for t
shall be no
residential
cent lot.
v. The stn
if the parce
smaller tha
With the I
trict, galvaI
shall not bE
shall be all.
rial on any
Section 2.
shall, take
as provided
Passed aI
.Cou:iJ.Cil or'
this 18th do
Attest:
, Joan Schmi
City Clerk
CIT
Notice is
Planning
, conducting
Tuesday, A
p,m. at tl
Room, loca:
Drive, to c.
to the Ro!
restricting
and double
(1) access I
Persons 1
this matte
t;ime.
Re
C
,.; f"'~, ".j-.,",-.
"
.
EHLERS
&. /\SSOCI/\-ES II\C
MEMORANDUM
DATE:
Aug 3,2005
TO:
Heidi Steinmetz, City of Elk River
Lori Johnson, City of Elk River
FROM:
Sid Inman, Ehlers and Associates Inc
RE:
But For Analysis For Industrial Park Abatement.
You have asked us to review the abatement proposals that have been presented and comment on the need
for the abatement. This is what is referred to as the "But For" analysis.
In the past we have used two different methods of reviewing the need for various types of assistance. In
some cases we have compared the purposed project to a similar project and review the returns on equity
as the basis for the need for assistance.
Since these projects are somewhat unique, we felt it would be better to use the second method of
comparing cost of acquiring the site in the purposed locations with the cost in similar locations. The
cities estimates and abatement assistance amounts are in "future dollars" and are designed to bring the
cost of the site to zero dollars over a 12 to 14 year period. My calculations are based on the calculations
that the staff prepared to determine the purchase price and the assistance.
Attached is a summary chart that shows the impact in "future value dollars" bringing the purchase price to
zero dollars per square foot.
Another way to review the purchase price is to review it in "present value dollars" Since the buyers will
receive the full amount ofthe abatement over 12 to 14 years to arrive at a value in today's dollars we
must add a discount rate. The second portion of the chart shows the net price in present value dollars.
Note the range from .58 to .89 if a function of the size of the lot verses the size of the building.
In summary, if you assume that the major competition that the city has is still offering the land at
from zero to $.25 a square foot, either analysis satisfies a needs requirement and could be
deemed to be justifiable
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