HomeMy WebLinkAbout4.c. Discussion of Broback Industrial Park Purchase and Land Consolidation . �
CITY OF ROSEMOUNT
EXECUTIVE SUNIl�RY FOR ACTION
PORT AUTHORITY MEETING DATE: March 15, 1994
AGENDA ITEM: Discussion of Broback Industrial AGENDA SECTION:
Park purchase and Land Consolidation
pREPARED BY: Ron Wasmund, Interim City AGENDA N�r°-� A � ��
Administrator C�V� �'�' V
ATTAC�NTS: �'p �' Y'
When I brought the idea of the acquisition of the Broback Industrial Park to the Mayor, I
was asking him for his response and reaction to it as Mayor of the City of Rosemount. I
felt because of the business relationship that has developed with the Brobacks over the
number of years that I have served as Building Official that I may be able to speak with
John, Henry, and Art Broback and get some interest in consolidation of this land through
sale to the Port Authority.
The item was brought up by me as part of a general discussion that I was holding with Mr.
MeMenomy in his capacity as Mayor. The question was raised why we didn't buy down the
land for the developers of Cottages Inc. I felt that at time the Brobacks were wiiling to
sell for a $1.20 per square foot and the Cottages Inc. had a budget of $.90 per square
foot, it would be relatively easy for us to subsidize the purehase by offering an
additional $.30 to facilitate this sale. I was curious as to why that approach had never
been suggested when we were entertaining the Cottages proposal.
Since the introduction of this item there have been questions raised to me as to the
reasons why the Port Authority would do this and why it wouldn't be a private developer
that would go through the efforts to acquire this land. I viewed this proposal as a
partnership. One way of providing a site to Cottages Inc. if we were interested in
assisting them.
The other question was specifics about the amount of financing that would be available
either to the City or to a private developer from the Dakota County HRA since this is
their tax increment district. I have contacted the person handli the tax increment and
housing monies at Dakota County. That persons name is vett Quarfo . She is new to the
position and is doing some research on my specific ques�t n ow much funding would be
available to the Port Authority, how much funding would be available to a private
developer and how long these funds might be available. In other words, what is the life
of the district.
Another issue that was raised the night of the meeting from the audience was the potential
for conflict of interest that E.B. McMenomy might have in any purchase of the Broback
Industrial Park. I have asked for a memo that states Mr. McMenomy's current status and
interest in the property as far as any listings and a written statement from him that he
would not accept any financial benefit from the sale.
I have made two attempts with the Brobacks to establish contacts and discuss their
willingness to entertain an offer from the Port Authority and as of noon on Friday I have
not heard from the BrobaCks that have an interest in the property. I spoke with Mr. Bill
Broback, but he has no interest in the property and therefore would not and could not
speak for the owners of the property. As more in£ormation is developed I will pass that
along to the Port Authority. Hopefully by Tuesday nights meeting I will have some
information to share with you.
RECOb�lENDED ACTION:
PORT AIITHORITY ACTION:
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M E �+i O
T4: Q4RT AUTHORITY MEMBERS
FROM: MAXOR & PQRT AUT80RxTY MEMAER E. B. MCMENQMX
DATE: MARCH 11, 1994
RE! BR08ACK ZNDUSTRXAL LOTS
7fi h�s come to my attention that some of the membe�s are
wondering whether I have a confliat o� intere�� �r� xegards to the
�ort Aut�ority ta�king about �he purchase of the Hxoback Lots for
seniar housing.
Neith�z ERA McMenomy A$socl.atas, Tnc. no� Z have a l�.sting
agreement with any owners to se11 any Broback indus�rial lo�s.
Secondly, I wil� �not receive any financsial. benefit if the Port
.P,uthority purchases �he lots �o.r resa].e to Cottage, znc. or
whomev�r. zt was Ron W�smt�nd and mysel� who had tha xdea that
this is a potential cbncept that could qet this vacan►t property
developed into some�hing producti.ve rather �han bei.ng a vacant
weed fie�d as it has been �ox over 20 ye�rs. In addition,
councilmembers have� express�d they would like �o see residenti�l
on thi$ property. Tt is designated for houaing in oux recentl,y
adopted Compr�he�naive Guide Qlan.
Tt is my hope �hat we can have a digcussion abou� the meri�s or
p�oblems in possibly pxQrepding with thi.s aonaspt.