HomeMy WebLinkAbout03/28/1991 • ECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley
Dakota County, Minnesota
March 28, 1991
Minutes of the special meeting of the Economic Development Authority of Apple
Valley, Dakota County, Minnesota, held March 28th, 1991, at 8 :00 o'clock p.m.
at Apple Valley City Hall.
PRESENT: President Holton; Commissioners Erickson, Humphrey and Sterling.
ABSENT: Commissioner Goodwin.
City staff members present were: City Administrator Melena, City Clerk
Mueller, City Attorney Sheldon, City Engineer Gordon, Administrative Intern
Asselanis, Planning Intern Benson, Personnel Director Boland, Public Works
Director Gretz, City Planner Kelley, Associate Planner McMonigal and Assistant
to Administrator Weldon.
President Holton called the meeting to order at 10:53 p.m.
MOTION: of Sterling, seconded by Humphrey, approving the minutes FEB. 28, 1991
of the special meeting of February 28th, 1991, as written. MINUTES
Ayes - 3 - Nays - 0 (Erickson Abstained).
• Mr. Melena reviewed the issues involved in amending the development A.V. THEATERS
agreement with Apple Valley Theaters and distributed the amending AMENDED TIF
documents prepared by James O'Meara under cover letter dated March AGREEMENT
26, 1991. The principal amount of the note, involved in tax increment
financing, is being reduced from $222,906 to $209,796 to reflect immediate payment of
$13,110. The City will have inspection rights to the theater and be able to withhold
up to 20 percent ($5,000) of each note payment to ensure repairs are made.
MOTION: of Humphrey, seconded by Sterling, adopting Resolution No. RES. EDA -91 -4
EDA -91 -4 approving an Amendment to the Contract for AMEND A.V.
Private Development with Apple Valley Theaters, Inc., THEATER TIF
related to completion of requirements for tax increment AGREEMENT
financing, and authorizing the President and Secretary to
sign the same, subject to City of Apple Valley approval.
Commissioner Humphrey said recent concerns with the Theater's response to a
fire alarm seem to relate to the level of staffing and the amendment doesn't
appear to cover that. Mr. Melena said the amendment relates to maintenance
only, but could be revised to include staffing. The Fire Marshal is meeting
with the operators and will be discussing procedures which may adequately
address the concerns.
Vote was taken on the motion. Ayes - 4 - Nays - 0.
MOTION: of Humphrey, seconded by Sterling, amending the agreement, ERC CONSULTANT
authorized February 28, 1991, with Economic Research AGREEMENT REST-
S Corporation to provide consultant services in locating a AURANT SEARCH
sit -down restaurant operator for the Southport Centre area
ECONOMIC DEVELOPMENT AUTHORITY
City of Apple Valley •
Dakota County, Minnesota
March 28, 1991 -
Page 2
to include Phase I only at a cost not to exceed $3,500.00
and authorizing the President and Secretary to sign the
same. Ayes - 4 - Nays - O.
MOTION: of Humphrey, seconded by Erickson, authorizing conveyance RYAN /DAYTON
by Ryan Construction of an undivided one -half interest in CONVEYANCE OF
Lots 6 and 7, Block 1, Southport Centre, to Dayton Hudson SOUTHPORT
Corporation as described in Ryan Construction's letter LOTS 6 & 7
dated March 25, 1991; with such authorization conditioned
upon affirmative recommendation by the City's tax
increment financing attorneys, Briggs & Morgan, and
directing preparation of any necessary documents to amend
the development agreement by Briggs & Morgan. Ayes - 4 -
Nays - O.
MOTION: of Humphrey, seconded by Erickson, to adjourn. Ayes - 4 - Nays - 0.
The meeting was adjourned at 11:00 o'clock p.m.
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