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Home My WebLink AboutEDA December 12, 2000 / '\ CITY of ANDOVER -.~ J' Economic Development Authority Meeting - Tuesday, December 12, 2000 6:00 -7:00 PM Conference Room A Call to Order - 6:00 Approval of Minutes ni~"I...,~ion Ttpnn / "- I. Approve 2001 EDA Budget ,..-J 2. Discuss Letters ofIntentJ Andover Station 3. Discuss Andover Associates, LLC Purchase Proposal 4. Other Business Adjournment , , \ '-J CITY OF ANDOVER REQUEST FOR EDA ACTION DATE: December 12. 2000 AGENDA SECTION ORIGINATING DEPARTMENT Approval of Minutes City Clerk ITEM NO. Approval of Minutes The Economic Development Authority is requested to approve the following minutes: November 14,2000 Regular Meeting (Bill Huppabsent) I I CITY OF ANDOVER REQUEST FOR ECONOMIC DEVELOPMENT AUTHORITY ACTION / DATE: December 12.2000 AGENDA SECTION ORIGINATING DEPARTMENT Finance Discussion Jim Dickinson ITEM NO. /. 2001 Economic Development Authority Budget REQUEST: The Andover Economic Development Authority is requested to recDmmend approval of the attached budget to the City Council. Back2round: The attached budget for the EDA reflects only expenses related to City staffing to support the functions of the EDA and the Tax Increment Financing Districts. As new initiatives are requested by the EDA I / would recommend that the Finance Director make budget modifications at the time of request after an analysis of the financial position of ED A at that time. r will be present at the meeting to discuss the budget and answer any questions you may have! If you have any questions before the meeting, please do nDt hesitate in contacting me at 767-5110. CITY OF ANDOVER 12/7/009:55 AMEcondev Revenue/Expenditure Budget Worksheet Budget Year 2001 , ! ECONOMIC DEVELOPMENT AUTHORITY ! SPECIAL REVENUE i ! Revenues 1 ! Revenue I Actual I Actual Actual 1 Budget ! Request Code I 1997 1998, 1999 200q-1 2001 i I I I I 31050 Current Tax Increments! $ - $ - 1 $ - ! $ - $ _ '"'''''''''''''''''''''''' '"'''''''''''''''(l'''''C'C''C''''' .'"'' $ "",' - .;j). - ".' - .... .... - - ,..""..,.,.""....., '.""!'. ,...,..,...., "c., ."""."" '1 !. ..'"",,,,,,,,,,, 1 I 34101 Rental Fees ! !. 1,200 $ - $ _ , $ _ $ _ ",.... '"~n'$''''' 1.200' $' . _ $ $ _ $"''''':- 1 I'T" 1 I 36240 TIF Admin. Fee $ 78,200 $ 82,000 I $ 82,000 I $ 85,000 $ 88,000 36210 Interest Earned . 314 2,841 i i 2,000 I 2,200 362121 Valuation Adjustment - ! 202 i (404) _ I 36255' Sale of Land 43,835 i - - 32,818 : 43,902 36260 Refunds reimbursementsi - - 170 ! _ 1 - """ ~:~?1'''''~~:~~''''~~~~t~~~;~f~~~~7!r'''' 'J22;34~""$" ""'135;04~" $""'" '..81:11;......$" "c'119.~18"L$.. ""'134;;02" m" ^ " 0... _ ,..~ ~ ^ ..~~o ^ 'I I I I I I I! I --jQ!jT'~~!!UE~:::- - .r:::. .!~'~r-~5'~IJ ::: 8,:ni:;$ - .jj:9;~j!rr=:::::m;~: I 'I I ! Expenditures! ! i Object ! Actual I Actual I Actual 1 Budget ' Request Code I I 1997 1 1998~_999 : 2000 C~1- ! Personal Services ' --r-= I I I! 101 : Salaries $ 58,288 $ 81,295 $ 89,091 I $ 87,000 I I 121 :PERA 2,667 4,251 i 4,703 I 4,507 ! 122 IFICA 3,581 4,885 I 5,313 5,394 i 125 Medicare 845 1,169 I 1,267 1 1,261 1 131 ,Health Insurance 3,834 5,359 I 6,456 ! 6,131 132 'Dental Insurance 289 381 1 397 I 348 I 133 !Life Insurance I 19 24 I 25 ! 152 I 134 Long Term Disability 1 - - ' _ 1 _ _ 199 Intercity Labor Allocati~nJ_: - - - - 114,302 c'"' ,'. ..... '$'" "Q"7'l$"97,364 .:ii".101;25f'$ ..1nLl7Q?"$"114,302 ""." '1"""'"'''''''''''''' ""1 ..,. . ..",,,,,,,, i I Supplies and Materials I I I CITY OF ANDOVER 12/7/009:55 AM Econdev Revenue/Expenditure Budget Worksheet Budget Year 2001 , Object , ! Actual Actual . Actual I Budget I Request Code I i 1997 I 1998 ----.L 1999 ~-2000 ' 2001 1-=:-- . ~--~-----=-=--- 201 : General Office Supplies ]$ 82' $ 100 i $ 221 $ 2,000 I $ 2,000 '^"'~' ,. . i I Subtotal . . .. '$ .... 82$ ..' '100$' 22$' '2,()()() $ . 2.()()O' c'';,C,.." N.....' O^~.^ r ." .~ " ^ I , I , I Purchased Services I I I , I i 1 i I I 1 I , I 301 : Professional Services :$ 298 ' $ 1,785 i $ 1,109 : $ 3,000 : $ 4,500 304 1 Attorney I , 192 i - I 3,000 I 3,500 - , 322 I Postage . - I - i - I 500 ! 500 , 330 i Transportation I~ 1,500 I 1,515 I 1,508 i 2,000 I 2,000 I I 2,000 ! 351 I Publishing 745 I 1,074 i 526 ! 3,000 352 Rate Programming I - I - I - : - i 360 ..II~su~a~~e . i 190 1 - - I -.1 - Subtotal $ '2,733'$ 4,566 $'" 3,142$ 10,500$ . 13,500 I I ; I i I 1 Other Services and Charaes I , I 1 i I I I I , 416 I Computer Services $ 170 I $ - $ 170 I $ 200 I $ 550 433 : Dues/Registrations I 548 I 9' 847 I 340 I 750 1 I 442 I Meals/Lodging I 24 I 644 I 1,~ 1,100 443 · Continued Education 1 - I - 1 - I 765. 900 499 I Contingency I - - I 200 I 1.000 I - I ,....~.~ ", Subtotal' .. '.... $ 718$ 33$ 1.661 $ 2,680)$ . 4,30b '~"'. ~-'- -, i I 1 I I , i Eauitv Transfers I 1 I I , ! I -I $ 710 I Residual Equity Trans. out $ - $ 2,000 i $ - i $ - 727 I Transfer to Other Funds - - 86l - I - m.....^~~.._._ . , . Subtotal ' $ , C" "H - $ 2,000 $ . 86$ ~$ .. - I I ~ I I I I I TOTAL EXPENDITURES ... $ ... 73;055$' 104,O63$' 112.162'$ .. 119,972$' "'.. 134;102 I I I I I , .1. I ^' I .. . L.. . I 'EXCESSOFREVENl..JE~f . OVER EXPENDITURES $ 50,494 $ (19,019) $ . (30,389) $ (154) $ 0 CITY OF ANDOVER REQUEST FOR ECONOMIC DEVELOPMENT AUTHORITY ACTION DATE: December 12. 2000 AGENDA SECTION ORIGINATING DEPARTMENT Discussion Community Development ITEM NO.2 David L. Carlberg Discuss Letters of Intent Community Development Director For Andover Station On Thursday, December 7, 2000 a meeting was held to discuss the Letters ofIntent from Ryan Companies and United Properties. The meeting was held to discuss the terms of the letters and to plan a negotiation strategy. In attendance at the meeting were: Mike Knight - EDA Commissioner Don Jacobson - EDA Commissioner Mike Gamache - Mayor Elect/EDA Commissioner Elect Mike Mulrooney - Advance Resources Bill Hawkins - City Attorney Dave Carlberg - Acting City Administrator Jim Dickinson - Finance Director Mike Mulrooney will be presenting a summary of the meeting to the EDA. -- CITY OF ANDOVER REQUEST FOR , ECONOMIC DEVELOPMENT AUTHORITY ACTION ; DATE: December 12. 2000 AGENDA SECTION ORIGINATING DEPARTMENT Discussion Community Development ITEM NO. 3 David L. Carlberg Discuss Andover Associates, LLC Community Development Director Purchase Proposal The EDA is requested by Andover Associates, LLC to consider the attached purchase proposal for the northeast comer of Jay Street NW and Bunker Lake Boulevard NW for the development of a bank. / , RECEIVED ANDOVER ASSOCIATES, LLC. 1875 Commercial Blvd. NW Nav 2 1 Andover, MN 55304 (763) 755-6554 CrTY OF ANDOVER November 17, 2000 Mr. David Carlberg City of Andover 1685 Crosstown Blvd. NW Andover, MN 55304 Re: Purchase Agreement for property at the intersection of Bunker Lake Blvd. & Jay St. Dear Mr. Carlberg: Andover Associates, LLC. proposes to purchase 1.76 acres of land from the City of Andover at the NE intersection of Bunker Lake Blvd. and Jay St. under the following terms and conditions: 1. Purchase price of$3.00 per square foot as described on the Boundary Survey. 2. Date of closing to be December 151\ 2000. 3. Cash on day of closing. 4. Taxes to be pro-rated for year of closing. 5. Assessments to be paid by City of Andover. 6. Title Commitment to be provided by City of Andover. 7. Necessary fill required to correct site to be provided by construction of temporary holding pond, 8. City of Andover to hold harmless Andover Associates, LLC. for any hazardous waste on property to be purchased. 9. Andover Associates, LLC. to be responsible for removal of all non-hazardous debris. 10. City of Andover to support the need for the existing curb cut on Bunker Lake Blvd. to access the property. Please advise us at your earliest convenience of any further information you may require. ~ ,