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HomeMy WebLinkAbout06/09/1992 ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota June 9, 1992 Minutes of the special meeting of the Economic Development Authority of Apple Valley, Dakota County, Minnesota, held June 9th, 1992, at 8 :00 o'clock p.m. at Apple Valley City Hall. PRESENT: President Holton; Commissioners Erickson, Goodwin and Sterling. ABSENT: Commissioner Humphrey. City staff members present were: City Administrator Melena, City Clerk Mueller, City Attorney Sheldon, Administrative Intern Bail, Finance Director Ballenger, Personnel Director Boland, Public Works Director Gretz, City Planner Kelley, Assistant to Administrator Weldon and Community Development Director Welsch. President Holton called the meeting to order at 10 :26 p.m. MOTION: of Erickson, seconded by Sterling, approving the minutes of MAY 14, 1992 the special meeting of May 14th, 1992, as written. Ayes 4 MINUTES Nays 0. Mr. Melena reviewed the three projects included in the amendment to PUBLIC HEARING the finance plans for tax increment financing districts. District 11 AMEND TIF PLAN Extension of pathway to business park east of Johnny Cake Ridge Road. Estimated $35,000 construction cost will obligate two years of existing tax in- crement. District 1 Street and public improvements for Auto Park development. Estimated $1,500,000 construction cost and $1,045,000 Ford site improvements will obligate new increment for maximum of 12 years. The increment generated will not be enough to pay all costs and will be covered by special assessments. District 2 Site and driveway improvements for restaurant/bakery /catering service. Estimated $50,000 construction costs will obligate new increment for maximum of two years. President Holton called the public hearing to order at 10:27 p.m. to consider the tax increment financing plan amendments, as described, and noted receipt of the affidavit of publication of the hearing notice. He asked for questions or comments from the Board and the public. There were none and the hearing was declared closed at 10:28 p.m. MOTION: of Goodwin, seconded by Sterling, adopting Resolution No. RES. EDA -92 -4 EDA -92 -4 approving amendments to the Master Development AMEND DEVELOP. Program for the Master Development District and Tax TIF PLANS Increment Financing Plans for Tax Increment Financing Districts No. 11, 1, and 2 within the Master Development District, all as reflected in the document dated June 9, 1992. Ayes 4 Nays 0. ECONOMIC DEVELOPMENT AUTHORITY City of Apple Valley Dakota County, Minnesota June 9, 1992 Page 2 MOTION: of Sterling, seconded by Erickson, adopting Resolution No. RES. EDA -92 -5 EDA -92 -5 approving the Development Assistance Agreement for A.V. RETAIL Apple Valley Retail 2nd Addition with Ryan Construction 2ND DEV. ASST. Company of Minnesota, Inc., for reimbursement of certain AGREEMENT costs, up to $156,000, from available tax increments, and authorizing the President and Secretary to sign the same. Ayes 4 Nays 0. The Board received a copy of a letter dated June 8, 1992, concerning NECK LIQUOR sale of the old liquor store building to Larry Neck. The closing is BLDG. CLOSING tentatively scheduled for June 12, 1992. Mr. Melena said Mr. Neck has not disclosed what business will go into the building, but agreed to limitations on certain types of businesses which were included in the contract for deed. MOTION: of Erickson, seconded by Sterling, setting a special meeting SET SPECIAL at 8:00 p.m. on June 25, 1992, to consider a tax increment MEETING financing agreement for Apple Valley Ford Addition and such other business as may come before the Board. Ayes 4 Nays 0. MOTION: of Goodwin, seconded by Sterling, to adjourn. Ayes 4 Nays 0. The meeting was adjourned at 10:33 o'clock p.m.