HomeMy WebLinkAbout4.d.1. Consideration of Agreement with Springsted Inc. to Complete a Study of Tax Increment Finance Revenues .....��.+....,.\
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CITY OF ROSEMOUNT
EXECUTIVE SIJMMARY FOR ACTION
PORT AUTHORITY CONIlVIISSION MEETING DATE: JULY 19, 1994
AGENDA ITEM: AGREEMENT WITH SPRINGSTED INC. AGENDA SECTION:
TO COMPLETE STUDY OF TIF REVENUE OLD BUSINESS
PREPARED BY: JOHN MILLER AGENDA NO. 4.D. (1)
ECONOMIC DEVELOPMENT COORDINATOR
ATTAC��V�NTS: CORRESPONDENCE FROM DAVID APPROVED BY:
DROWN DATED JULY 11, 1994
Attached for the commissioners' review is a proposal from Springsted Inc. to complete a financial analysis
of the Downtown Tax Increment Finance District. This work would include a review of the Rosemount
Plaza Condominium project. The cost of the work is not to exceed $2,000.
RECOT�IlVIENDED ACTION: MOTION TO APPROVE THE PROPO5AL FROM SPRINGSTED
INC. TO COMPLETE A STUDY OF DOWNTOWN TAX INCREMENT FINANCING REVF.NUE
FOR AN AMOLTNT NOT TO EXCEED $2,000
07i11i94 12:21 'b`612 223 3000 SPRINGSTED �1002i002
SPRINGSTED i20 South Sixth Street
Swte 2507
PUBLIC FiNANCE ADVISORS Minneapolis, MN 55402•1800
{612) 333•9177
Fax: (6121 349-5230
Name Offrce
85 East Seventh Pface 16b55 West Bluemound Road
Suite 100 Suite 290
Saint Paui. MN 55101•2143 8rookfield, Wl 53005•5935
t612) 223-3000 (414) 782-8222
Fax: (612) 223-3002 Fax: {414) 782-2904
6800 College Boulevard
Surte 600
Overland Park, KS 66211-1533
{913) 345-8062
Fax: t913) 345•1770
1850 K Street NW
Suite 215
JUIy 11, 1994 washington, DC 20006-2200
(2021 4663344
Fax: (2Q2I 223-1362
M�.Thomas Birt, Executive Director
City af Rosernount Port Authority
P.O. Box 510
Rasemount, MN 55068
Re: Study of Downtown TIF District Revenue
Dear Mr. Birt:
We have had severa! conversations in the past concerning the Downtown TiF Disirict, which
terminates ln the year 2000. To be in a position to respond to the redevelopment needs of
downtown into the future, it may be necessary to amend or alter the boundaries af the TiF �
Distriet to provide a longer life. ! provided you under separate cover a discussion of several
managem�nt actions which may be appropriate.
Staff has advised that the in#ormation is not available �+vhich shows on a parcel by parcel basis
#he tax increments generated by the existing district. If modifications of district boundaries are
proposed, this type of information is essential as a good starting point.
This {etter serves as c�ur proposal to you to prepare an analysis of the exlsting TIF District which
will show cu�rent tax increment revenue information on a parcel by parcel basis. Further, we
will conduct a more in-depth analysis of the revenue history of the townhouse proJects to ve�iiy
that the inc�ements received from this project by the City are indeed accurate.
We would propose to complete the foregoing work at our standard hourly rates, with total costs
estimated not to exceed $2,000. !f work cannot be completed within that dollar amount, we witl
advise you before exceeding that sum.
Very truly you�s,
�
K!�%��
David P. Drown
Vic� President
/dma
cc: John Miller, Economic Develapment Coordinator
Dan O'Neili, Springsted Incorporated
i
MEMORANDUM
DATE: July 19, 1994
TO: Mayor and Councilmembers
FROM: Thomas D. Burt, City Manager
SUBJECT: F.Y.I.
Attached is the letter of intent for Municipal Legal Services for Rosemount Port Authority.
The City will be contracting with Holmes and Graven, Chartered, 470 Pillsbury Center,
Minneapolis, MN for General Legal Services and Special Project Services.
This will be brought to City Council for approval tonight at the City Council meeting.
Charles LeFevere will be the City's legal consultant and attend all port authority meetings.
His retainer will be for meeting cost and an hourly rate for special projects.
4
�IOL.MES 8t C�t.A'V'EN, CHARTERED
470 P]LLSBITRX CENT��t
1vII�l�'EAl'(3LT5, MN 554Q2
(6X2) 337-93Q0
FA� # (�x2) 337-9314
Date: Ju�y i9, 1994 Our File No.. FIRM-1 i
'TO; "�o�z�as Burt
Cxty of Rosemount
FA.X#: 423-5203
FROM: Charlie LeFever�
]]a.rect �?ia1 #: (612) 337-9215
CUk��N',['S: (�rriginais are being sent by maiL
Number of pages including cover sheet: 10
If� proM�iem arises, �a.tl Christel �.tice at (b12} 337-9279
1�0�'Y�E QF CQNFIDENTIAL INF�RMATYUl�:
- '�.is fax contains confidential information which is legally�rivileged. ?he infarmatioz�is fox t�.e
sole use of the intended recipYent(s) listed abo�ve. Distribution or diselosure to any andividuz�s
not so listed is strictly �rohibited.
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�IoLm�s s� Gx.�v�rr
G73ARTExED
Attwneys at Y.aw
i79 PSDs�ry Cmter.MloaeapoiiS,h�oeeota 554Q�
RoBFaa7[.t ALsor f612)337-�xi@0 Ro6EsnC�CAS�tG
R�Nnl.D H.SAT7'Y I.Ai3RA IC.�d�-fE1'
STEP�3.�ITSiR, Facsimitc i612)337-9310 BAsta,fAn L�'ORTwOOD
3omv B.DP,.�ta ,�na�s M.SrxvM(Mu6x
MeaY�.DosBuvs Jn,t�s J.TaoMsolv,.iR
SPEFAITIE Pb CsAX.�ti i.AAXCY NL OVEATH6II�1
COBIIYNE A.HSIlY� BOA'1�ifiS L.�S
Ja.1�s S H011�s V�RITER'S DIRECx'X1TAE. G,�BY P.�'��
1Dnrnn J'.�x (s���.9x1s DevYID Y►GswvElv<Lw1p-�AU
�OEiN R I.AY90ly
OF COUNSSL
�I.LtNGTON 8.I.A�' ROSExT G Cw�eJGSON
GtiF7A�l,�S L�LRFE�'ERE
ROi�1'L DwvID54N
JUffi�M.L�'.�'S'1lE.�R. T..�AY 5AL11ffiN
ROBP�I'.!-�.�AT.7.
July 19, �99�
Mr. `1'hozz�as I�. Burt
City .A,dz�vnistrawr
City of Rosemount
P. a. Bax 510
Rosemaunt, iV�N �5�b$-0S 1�
RE: Murueipal Legai Sex'vices; Rvsemount Poxt Autharixy
Dear Mr. Burt:
This letter is i.ntended to serve as a mernordndum of undezstanding concerna�g the scope of 1egaJ�
serv�ces w be pro�'ided by Holmes&Graven,Chartered (the "Fixm") to the Pa3rE Authority of the
City of Rvserna�nt(the "Authoriry") and the�ees which will be��ged for such sezvices. Yf'tl��
Authority co�.curs w�i.th the �rovisions contained iu this lett�r, p�ease arrange w have it signed
at the approgriate spot and resum a signed copy to me.
l.. The Authvrity appoints t,kce Firm as attomey fox the Autharity wi.th Charles L.
LeF�vere acting as prir�a�y l�egal caunsel with zespect to the services descr�bed in
this letter.
2. The Firm agz`ees to perfarrn all usual and customary legal services for ihe
Aathozity iu� accard.anee with the tezzza.s of this l�tter.
3. The Autk�o�.ty agr�es to compensate the Firm for services as follaws:
a) An annual retainer fee far A.uthority civil legal servi.ces of$5,004 payable
iz� zz�az�thly installrnents of$41b.66 pe�r month, at th� end of eaeh month,
eommencin� for sesvices rendered beginning August l, 1994. Services to
i�e covered by the retai.ner fee are preparation for aud attendance at all
Authority meetin2s, reguiar azxd speciaL
CLi73?82
9IRM-1;
0L/� 3�ttd 0LE6G£E�t9'QI N3l1K2I� Pu'e S3Yd'IOH'W02I3 S0' i�L i�6-6t—'It1I'
lvir. 'Z'homas D. Buzt
July 19, 1944
�age 2
b) �or all othez Authority services, e�r,ept for those services deseribed iva
pazagx aphs 5 and 6, campensatioz� at an k�ourl� rate of $1�0 �oz- Firm
attomeys lieensed to pracace law zn Minnesata and $64 per hour for Iaw
clerks and $70 �er k�our for lega� assistants.
4. The F-uxn shall a]so be se�arately reimbursed for any costs and disbwsements
whi�h it i.ncurs in conn.ectian with providinrg any of the services described in
paragraph 3 of t�.is letter; includxng camputez assisted legal. r�search at the rate
charged by t1�e pzovider. Reirr�bursable costs and disburseznents shall not include
charges far secretaxial or word pxocess�ng sex'vic�. Billings by the Authority
attorney to the Authority £or services, casts and disbuxs�ments shall 1� rnade
rnonthly. '�e bitling sta,t�ement shall be of su�ficient detai? to adequately ixiform
the Autharity cancex�ing rhe tasks pe�.formed, the attarney perfor.ming them, the
�me s�3ent an each such task and the nature and the extent o� casrs and
disbursements. 'T`he statement shall also show the total tixne spent and the fees,
ck�axged under categozy 3b ar�d the total rir�e spens under category 3a. Within the
limits of its billina system, the attorney's billing statemezit shall also, as ze�uested
by the city adarrai.n,istrator, show #he types of work dox�e in �rarious cate�ories and
� the time spent and fees amibutable to eack� of such categozies.
5. In instar�ces �uvhere the Fi�n is a�tharized to act as approving bo�d coun.sel, fees
�ox services rendered by the Firm in s�c� capacity s1�a]1 be tk�ase usually and
customarily ck�axged by the �'irm �o�r such services. No fees which the Finn
receive� as campensarion for serv�ces as approving bond counsel sliall be
attributabXe ta servi.ces which the Fizxn previously rende�red in its separate capaeit�
as attarney foz tk�e Authori.ty.
6. '�'he haurly rate for all attoxzzeys of rhe �'um fox ser'vices for whi�h costs are
passed through to a develvpear or applicants w;ll be $130.00. For all civil
�i�ti�auon or formal administrative pr�ceedings, cox�axiencin� with tk�e s�rvice on
the Authority o� a summons and co�,plaint or fon�.l eharge or not�ce of
adminisizatzve praceedings, the k�aurly rate for aitozneys of the F�urm vvill be
$114.(�.
7. The Firrn will provide, wi.thout cost to the Authori.ty, any relevant summaries of
le�islatian af rece�t court decisions,so 1o�:g as the Firm continues to provide such
service genera�y to iLs clients.
S. it is the iz�tention af the para.es and it i.s hereby agreed by t�e Authority attomey,
that the "pri�nary legal counsel" as used herein means ax�d refers to Charles L.
LeFevere wk�o will, except in the case o� extraordinary cixcwnstances involving
disability, unavoidable conflzct or other good and substantial reasans, perform,
CLL733&2
FIRM-11
0L/E 3�Hd 0LE6LEEZL'�9°QI N3AK219 Pu'� S3W'IOH°L�IOZi3 90° i�L 66-6L-'If1I`
Mz�. Thomas D. Burt
3u1� 19, 1994
Pa.�e 3
supervise and be responsib�e ta the Autho�rity for the legal services �erein agreed
u�on.
T'he Fum sha11, upon zequest, provi�de the Autt�o�it� with tY�e names and
qual.ifications of ot�zez�ttorneys emp�oyed by the�'imn vvho may f�Qm tune-to-iarxxe
be dir�ted to perfozrrz services described in this lette� undes the supervision of
C�arles LeFevere. The �'irm shall not assign any Firrn attarney not approved by
the Authoriry w �er�vzm serv'ices for the Authoriry.
9. The �ixrt� a�ees Lhat it wi.�l. not undertake ihe representatian of any person or
other entity duz�ng irs a�pointmiez�t as Authority attorney in insta�ces where suck�
represez�tation may create a potential conflict of interest, u��less:
a) TI�e �iunm reasonably believes the re�resentaiia�n r�vill not ad.vea!sely affect
its relataa�shzp �'ith t1i� Authoxzt}, and
b) "l�e Authority an�d such other �aersox� ar entity have �onsented after
consultation.
I0. 'Z'k�e �arm agrees that it w-i�� ztat, durir�g its appoi�ntment as Autl�oriiy' attomey,
uz�de�take the representaiaon af aa�r elected offiici,a� of the Autt�oxi.ry or the city
adminis�ator in connectaoz� with any personal legal. matter of such person; and
will z�ot du�ing such appointmez�t, absent the cons,eez�t of the eiry adzniuv.strator,
undertake the repxesenration of an� athc�r emplayee of the A.urk�oriry.
I1. '�'k�e appointment af the Fum as A,uthority attomey may be terrninated by the
�luthority at aziy tzzne and bq the Firm upon b0 da�s written norice to the
Authority. �Tarhing in this lett�r or the Autk�orit�'s acceptance sk�all be deemed
ta prec'�ude the oppol-tunity of the Autk�ozi,ty to retai�i and appoxz�t 1ega1 counsel
o#he� thazz the Firm to represent the A,uthoz�ty in any legat mattez�s.
I2. Sub�ect to the ri�hts of tenninat�on des�cribed in pazagz�ph 11, rhe prvvisions of
J b
thxs letter shall be deemed to be au.tomatically extended �rarn year-to-year or
extended wi.th such modificatio�s oz adjustrnents as th.e .l�uthority artd the Fi�m
z�.y from tirne-to-time rnutually agxee to.
H�LIVI�S & GRAVEN, CHA�'t'�'ERED
�� �--��' 4�- -�-�
• Charles L. T..�Fe�vere
CLL73382
PiRM-1].
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! '
lvxx. Thoz�nas D. �3urt
July X9, 1994
Page 4
'T�e prov�si,ons of tk�xs letter �re undexstood an�d acc�pted-
17�t�d:
PC3RT .AUT'�34R1'I'Y' OF T�
C�'Y' OF ItO5�MOU�"T'
By
CLL?3382
FIRM-tt
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