HomeMy WebLinkAbout4.a. Public Hearing for Land Conveyance to Dr. Kurt Walter- Hanson 1
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CITY OF ROSEMOUNT
EXECUTIVE SUbIlKARY FOR ACTION
PORT AUTHORITY MEETING DATE: AUGUST 16, 1994
AGENDA ITEM: PUBLIC HEARING FOR LAND AGENDA SECTION:
CONVEYANCE TO DR. KURT WALTER-HANSON OLD BUSINESS �
PREPARED BY: JOHN MILLER, AGENDA NO.
ECONOMIC DEVELOPMENT COORDINATOR 4 .A.
ATTACFIl�iENTS: PROPOSED SITE PLAN FOR APPROVED BY:
REDEVELOPMENT OF REPAIRS INC. SITE , MEMO
In previous action the Rosemount Port Authority set a public hearing for
5 :30 p.m. , August 16, 1994, to hear comment on the proposed sale of the
Repairs Inc. site with additional city-owned property to Dr. Kurt Walter-
Hanson. A site plan showing the proposed development is attached and I
will give an oral presentation at the hearing of the proposed terms and
conditions .
If the commissioners, after taking public comment, wish to amend the site
plan development agreement that can be done. Another option is to negate
the sale of the land and the redevelopment of the site. If the
Commissioners wish to proceed the development agreement and the tax
increment agreement can be prepared for consideration at the September 6,
1994 meeting.
RECOMMENDED ACTION:
1) Open Public Hearing
2) Receive public comment
3) Close Public Hearing
PORT AIITHORITY ACTION: MOTION to be determined at meeting.
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MEMORANDUM
TO: Chairperson Carroll, and Commissioners: Anderson, Busho, Edwards, Miller,
and Wippermann
FROM: John Miller, Economic Development Coordinator
DATE: August 11, 1994
RE: Schedule for the Kurt Walter-Hansen Project
(Rosemount Professional Building)
Mr. Ron Wasmund, the City's Community Development Director, has asked me to provide
the Port Authority Commissioners with a schedule that might be followed in completing the
paper work for the Rosemount Professional Building.
Here's that schedule - well, actually a chronology of events:
1. Public Hearing on sale of land. This is scheduled for August 16, 1994.
2. Development Agreement. Mr. Wasmund and I will be visiting with Dr. Walter-
Hansen on August 11. If we can resolve the outstanding issues the development
agreement will be brought to the port authority for consideration on August 16. In
any event, there will be an update on the project.
3. Plans and Specifications and Project Budget. This is entirely Dr. Walter-�Iansen's
responsibility. �Ie must have plans and specifications completed for the purpose of
receiving fmancing, obtaining a building permit and far determining a project budget.
4. Tax Increment Finance (TIF) Agreement. Once Dr. Walter-Hansen has determined a
project budget the TIF agreement can be completed. It's necessary to show where the
money is to be spent.
5. Mortgage. The TIF Agreement will guarantee to Dr. Walter-Hansen the "rebate" of
some property taxes. This will allow him to complete his rnortgage documents as the
bank will want to see the TIF Agreement for its guaranteed income stream.
6. Platting. Some form of land consolidation will be required whether its platting or a
lot combination. The exact method used will be determined between the City's
planning staff people and Dr. Kurt Walter-Hansen.
7. Land transfer. Upon submittal of approval of financing to the Port Authority by Dr.
Walter-Hansen, the Port Authority through approval of the Development Agreement
is required to convey title to the land. This will be done by quit claim deed. The
parking easements will be signed at this time.