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Home My WebLink About4.m. Payment to Metropolitan Council for Planning Assistance Loan #2 " i City of Rosemount Executive Summary for Action ' City Council Meeting Datez March 16. 1993 Agenda Item: Payment to Metropolitan Agenda Section: Council for Planning CONSENT AGENDA Assistance Loan #2 Prepared By: Lisa Freese, Agend�� Director of Planning �, R� Attachments: Metropolitan Council Apprqved $y: , � Contract. / � � Z � � ' . ��lLt�_ C-�� ' � � As you will recall, the City of Rosemount received a $17, 174 Planning Assistance Loan to assist with the City' s participation and monitoring of the Metropolitan Airport Planning process. The first of three equal loan installments is due on March 31, 1993 . The payment required by the contract is $5, 725 . This repayment is included in the 1993 budget account 101-41110-01-601. Staff recommends payment at this time. Recommended Action: A MOTION to make a payment of �5, 725 from account 101-41110-01-601 to the Metropolitan Council . City Council Aetion: 03/16/93.002 . . Loan No. L-92-� LOAN AGREEMENT BETWEEN THE METROPOLITAN COUNCIL AND THE CITY OF ROSEMOUNT THIS AGREEMENT is made and entered into this 16tnday of Mar�n , 1992, by and between the Metropolitan Councii, hereinafter referred to as the "Councii," and the City of Rosemount, hereinafter referred to as the "Lendee.° WHEREAS, the Council is authorized by Minnesota Statutes, Section 473.867, to establish a planning assistance fund to assist local governments in carrying out planning activities and to adopt uniform procedures for the award, disbursement and repayment of grants and loans; and WHEREAS, the Lendee has applied to the Council for a loan to allow the city to participate in the airport planning process, to monitor the MAC, the Council and the Legislature regarding airport related activities and processes, to coordinate activities with surrounding local governments, and to participate in the Dakota County working group; and WHEREAS, the Council desires to assist the Lendee in completing its work plan by making a loan through the Council's planning assistance fund. NOW, THEREFORE, in consideration of the CounciPs agreement to loan planning funds to the Lendee and the Lendee's agreement to repay said funds, the Council and Lendee agree as follows: 1. Amourrt The Council shall pay to the Lendee a total loan amount of $17,175.00. The total amount of loan funds shall be made available to the Lendee within ten days following execution of this Loan Agreement. 2. Scope of Work; Estimated Com�letion Date The Lendee agrees to do,perform and carry out in a satisfactory and proper manner the activities specified in the work program set forth in Lendee's loan application, which is attached hereto as Appendix A and made a part hereof. That portion of the work program which shall be funded by the loan award is described in Section 3.A. of this Loan Agreement. The estimated completion date of the work program is June 30, 1993. 3. Authorized Use of Loan Proceeds A. The Lendee shall utiliie the loan funds to pay for the activities specified under "Contract Costs° in the Project Budget contained in Exhibit A, up to a total maximum expenditure of$17,175.00. The activities so paid for out of loan funds shall constitute the funded portion of the work program. - � B. The Lendee agrees that no more than seventy-five percent (75%) of the totai cost of carrying out the work program set forth in Appendix A shail be financed by loan funds. C. it is understood and agreed that costs and expenses to be paid for out of loan proceeds shall be in substantial accord with the specifications contained in Appendix A, and with other provisions contained in this Loan Agreement. It is further understood and agreed that the foilowing costs and expenses shall be the oniy costs and expenses paid for out of loan proceeds: 1. Compensation of existing staff. 2. Compensation of newiy hired staff. 3. Employment of a qualified consuitant(s). 4. Payment of other costs such as overhead, rental of space and equipment, pu�chase of suppiies, printing and publishing. 4. Accountinq A. The Lendee agrees to establish and maintain an accurate and complete separate control account for loan funds received, and to maintain accurate and compiete accounts and records relating to the receipt and expenditure of any and all loan funds including,but not limited to, documentation and information relating to the selection and payment of consultants. B. The above accounts and records of the Lendee shall be audited by the Lendee in the same manner as all other accounts and records of the Lendee are audited, and may be audited and/or inspected on the Lendee's premises or otherwise by individuals or organizations designated and authorized by the Council, following reasonable notification, during the loan period and for a period of at least three years following the finai loan payment. The Lendee shall provide the Council reasonable access to the Lendee's accounts and records during business fiours. 5. Reports A. Mid-Point Proaress Report. The Lendee shall prepare and deliver to the Council a mid-point progress report advising the Council on the status of the activities undertaken in connection with this Loan Agreement. The report shall contain a short description of the utilization of loan funds to date, projected future planning expenses and any anticipated problems in meeting completion dates. The mid-point progress report is due March 31, 1993. B. Final Proqress Reqort. The Lendee agrees thafivpon completion of the total work program, the Lendee will submit to the Council a final -2- . �..� progress report which shall be evaluated by the Councii to determine that: 1. The planning costs funded by this loan did not exceed seventy-five percent (75%) of the total cost of the work program. 2. The scope of work was completed. 3. The terms of this Loan Agreement were met. The final progress report is due July 30, 1993. 6. General Conditions A. Duration. The period of loan award specified herein shall commence on the execution of this agreement and remain in force and effect untii March 31, 1995. B. Repavment. The Lendee agrees to repay the Councii in accordance with the following schedule: 1. The Lendee will remit to the Council on or before March 31, 1993 an initial payment of $5,725.00. 2. The Lendee will remit to the Council on or before March 31, 1994 a second payment of$5,725.00. 3. The Lendee wip remit to the Counci( on or before March 31, 1995 a final payment of $5,725.00. C. Breach. In the event that the Council �nds that there has been a failure �, to comply with the provisions of tf�is Loan Agreement, the Lendee agrees to repay to the Council funds not used in accordance with this Loan Agreement. These funds shall be repaid af an interest rate,of 8 percent per year, compounded annually, from the date of the act which was in breach of this Loan Agreement. In addition, the Council reserves the right to take other action it deems necessary to protect its interests in the event of a breach by the Lendee. D. Changes. The terms of this Loan Agreement may be changed or modified by mutual agreement of the parties hereto. Such changes or modifications shall be effective only upon the execution of written amendments signed by authorized representatives of the Council and the Lendee. E. Nondiscrimination. The Lendee agrees to comply with aU applicable laws relating to nondiscrimination, affirmative action, public purchase, contracting and employment. In particular, the Lendee agrees not to discriminate against any employee or applicant for empioyment because of race, color, religion, sex or national origin, and to take affirrnative action to ensure that applicants and employees are treated equally with respect to the _3' 'l�° � � � following: employment, upgrading, demotion;transfer, recruitment, _ fayoff, termination, rates of pay and other forms of compensation, and selection for training. The Lendee further hereby acknowledges that the Council encourages the Lendee and its contractors to take affirmative action to utilize women/minority/disadvantaged businesses in their assisted pianning activities. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year first above written by their authorized representatives. pprov as f METROPOLITAN CD NCIL / ssistant Counsel aron G. Klumpp, Exe ' e Director LENDEE: CITY OF ROSEMOUNT By Title � � ERM00367 � . .� . � . � . � . . -4- �