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HomeMy WebLinkAboutEDA June 2, 2009 1685 CROSSTOWN BOULEVARD N.W. . ANDOVER, MINNESOTA 55304 . (763) 755-5100 FAX (763) 755-8923. WWW,CI.ANDOVER,MN,US , ECONOMIC DEVELOPMENT AUTHORITY MEETING June 2, 2009 6:00 p.m. Conference Rooms A & B 1. Call to Order - 6:00 p.m. 2. Approval of Minutes (April 21, 2009) 3. Progress Report/Bunker Lake Blvd. NW Frontage Road Realignment 4. Approve Option Agreement Extension (Dynamic Sealing Technologies) 5. Discuss Business Outreach Program/Business Development Day (Golf Tournament) 6. Purchase Agreement/Letter of Intent/Progress Review/Banners 7. Other Business @ 1685 CROSSTOWN BOULEVARD N,W. . ANDOVER, MINNESOTA 55304 . (763) 755-5100 FAX (763) 755-8923 . WWW,CI.ANDOVER.MN,US TO: Economic Development Authority r CC: Jim Dickinson, Executive Director FROM: Michelle Hartner, Deputy City Clerk SUBJECT: Approval of Minutes DATE: June 2, 2009 INTRODUCTION The following minutes were provided by staff for EDA approval: April 21, 2009 Regular Meeting DISCUSSION The minutes are attached for your review. ACTION REQUIRED The EDA is requested to approve the above minutes. Respectfully submitted, ~cJftL1fvu-. Michelle Hartner Deputy City Clerk Attach: Minutes 1 2 3 4 5 6 ANDOVER ECONOMIC DEVELOPMENT AUTHORITY MEETING 7 APRIL 21, 2009 - MINUTES 8 9 10 A Meeting of the Andover Economic Development Authority was called to order by President 11 Gamache, April 21, 2009, 6:00 p.m., at the Andover City Hall, 1685 Crosstown Boulevard NW, 12 Andover, Minnesota. 13 14 Present: Commissioners Sheri Bukkila, Don Jacobson, Mike Knight, Robert 15 Nowak and Joyce Twistol 16 Absent: Commissioner Julie Trude 17 Also present: Executive Director, Jim Dickinson 18 Community Development Director, Will Neumeister 19 Public Works Director/City Engineer, Dave Berkowitz 20 Others 21 22 23 24 APPROVAL OF MINUTES 25 26 April 7, 2009 Regular Meeting: Correct as amended. 27 28 Commissioner Twistol stated on page 2, line 20 after the word parcel she would like the following 29 sentence added, "Owner of Eddy' s Auto Body responded there was no hazardous waste and the EP A 30 had issued a report when Eddy's refinanced two years ago". 31 32 Motion by Jacobson, Seconded by Knight, approval of the minutes as amended. Motion carried 33 unanimously. (Trude absent) 34 35 EXTEND OPTION AGREEMENT (DYNAMIC SEALING TECHNOLOGIES) 36 37 Mr. Neumeister stated Jeff Meister, owner of Dynamic Sealing is in attendance and is requesting 38 an extension on a current option agreement to purchase additional land that will expire July 31, 39 2009. Mr. Neumeister explained staffis supportive of an 18 or 24 month extension provided Mr. 40 Meister provides a non-refundable payment of $10,000. 41 42 Mr. Meister stated he is requesting a 24 month extension. 43 44 Commissioner Jacobson suggested a Right of First Refusal without a non-refundable payment of 45 $10,000 so the EDA could actively market this parcel for the 18 month extension. Mr. 46 Dickinson stated the reason they went with an option agreement instead of a Right of First 47 Refusal is Mr. Meister wants to know what that target price is going to be. With Right of First 48 Refusal the price may not be what Mr. Meister negotiated. Andover Economic Development Authority Meeting Minutes - April 21, 2009 Page 2 1 2 Mr. Dickinson stated he's not opposed to the 24 month extension based on the current activity 3 and there is no immediate interest in this parcel. There are other parcels in Andover Station 4 North to actively market. There is more long term value with Dynamic Sealing expanding than 5 starting from scratch. 6 7 The $10,000 non-refundable payment was discussed. 8 9 Motion by Gamache, Seconded by Jacobson, to grant a 24 month extension to the current option 10 agreement with Dynamic Sealing Technologies, Inc. with an additional $10,000 non-refundable 11 option payment. Motion carried unanimously. (Trude absent) 12 13 DISCUSS MONUMENT SIGN AGREEMENT 14 15 Mr. Neumeister stated Louis Rudnicki and Scott Brenner requested temporary use of the two 16 large monument signs located on Hanson and Bunker Lake Boulevards. Mr. Rudnicki drew up a 17 Temporary Sign Agreement which the City Attorney has looked over and made some changes. 18 19 The placement of the signs were discussed. 20 21 Motion by Knight, Seconded by Jacobson, to approve the Temporary Sign Agreement in 22 Andover Station North. Motion carried unanimously. (Trude absent) 23 24 APPROVE BANNER DESIGN FOR ANDOVER STATION 25 26 Mr. Neumeister presented three different choices of green canvas for the banners in Andover 27 Station. 28 29 Commissioner Knight asked about the fade factor. Mr. Neumeister responded there is three years 30 of DB protection. 31 32 Motion by Jacobson, Seconded by Knight, to approve the forest green canvas for the banners in 33 Andover Station. Motion carried unanimously. (Trude absent) 34 35 PURCHASE AGREEMENT/LETTER OF INTENTIPROGRESS REVIEW 36 37 Mr. Neumeister gave an update on the following: 38 39 Moose & Co. Grill House - Owner, Andy Stoner is working locally for financing. 20% of the 40 project is complete. 41 42 K wik Trip - The City will be moving forward with the feasibility to get the costs in line. 43 Everyone involved seems to be willing to pay for some ofthe project. The costs need to be fine 44 tuned. Andover Economic Development Authority Meeting Minutes - April 21, 2009 Page 3 1 2 Restaurant Site - Buffalo Wild Wings is no longer interested, it would be too close to their 3 restaurant in Coon Rapids. There are leads on a couple hamburger joints. 4 5 Annual Business Development Day Golf Tournament - Registrations are coming in. The price 6 was kept low this year. 7 8 HOLD SPECIAL MEETING OF BOARD OF DIRECTORS/ANDOVER STATION NORTH 9 OWNERS ASSOCIATION 10 11 Mr. Neumeister explained in 2002 the Bylaws for the Andover Station North Owners 12 Association was adopted, however the original signed Bylaws can not be found. This issue 13 surfaced when Verizon requested a copy of the signed Bylaws. Mr. Neumeister stated Scott 14 Baumgartner, the City Attorney advised the Board of Directors for the Andover Station North 15 Owners Association should act on these three items: 16 . Adoption of the original Bylaws of the corporation from October 2002: 17 . Recognition of Joyce Twistol and Sheri Bukkila as new directors of the corporation; 18 . Execution of new corporate Bylaws, identical to those originally executed in or about 19 October of 2002. 20 Mr. Neumeister explained new owners in Andover Station North are members of the association, 21 not directors. 22 23 Mr. Dickinson stated staff believes the original documents did exist, however the documents did 24 not get recorded properly. The Board of Directors does need to hold a meeting outlining what 25 has happened from 2002 to the present. 26 27 Motion Knight, Seconded by Jacobson, to approve Adoption of the original Bylaws ofthe 28 corporation from October 2002, Recognize Joyce Twistol and Sheri Bukkila as new directors of 29 the corporation and Execute new corporate Bylaws, identical to those originally executed in or 30 about October of 2002. Motion carried unanimously. (Trude absent) 31 32 OTHER BUSINESS 33 34 Mr. Rudnicki explained his position on the monument sign located on Ibis Street. He is 35 proposing to make changes to the sign to make it more visible. Before making any changes to 36 the sign he would like the EDA to release their rights to the sign. 37 38 Mr. Neumeister stated the EDA owns halfthe sign, since they paid for half. 39 40 The number of sign spaces was discussed. 41 42 Commissioner Jacobson asked Mr. Rudnicki ifhe is asking for temporary use of the sign. Mr. 43 Rudnicki replied no, he is looking for permanent sign usage. 44 Andover Economic Development Authority Meeting Minutes - April 21, 2009 Page 4 1 Mr. Dickinson stated one thing for the EDA to keep in mind; they are the developers of the area. 2 3 President Gamache asked for a formal documentation to be put together and brought back to a: 4 future meeting. 5 6 7 Motion by Jacobson, Seconded by Bukkila to adjourn. Motion carried unanimously. The 8 meeting adjourned at 6:59 p.m. 9 10 Respectfully submitted, 11 12 13 Michelle Hartner, Recording Secretary @ 1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304 . (763) 755-5100 FAX (763) 755-8923 . WWW,CI.ANDOVER,MN.US TO: EDA President and Board CC: Jim Dickinson, Executive Director FROM: Will Neumeister, Director of Community Development (#1- SUBJECT: Progress Report/Bunker Lake Blvd. NW Frontage Road Realignment DATE: June 2, 2009 INTRODUCTION On May 19, 2009 the City Council approved the feasibility report. The various property owners signed letters waiving the public hearing. The Council directed preparation of the plans and specification for the road realignment. City staff has begun preparation of the plans and specifications and expect them to be ready for bids to be received by late July. If the bids are acceptable and below the numbers provided in the feasibility report (see attached) then the Council will likely order the project to begin construction on August 18, 2009. Actual construction would commence on August 31, 2009 with construction completed by October 30,2009. The owners of Eddy's Auto Body have a pending deal to sell their land to Kwik Trip, but the deal is still contingent upon the City reconstructing the frontage road at Jay Street and Bunker Lake Boulevard, along with the median on Jay Street to provide full access to Bunker Lake Boulevard. DISCUSSION No Condemnation Needed In this proposal, the City would not need to initiate condemnation to acquire street right-of-way and the needed ponding area. Kwik Trip, Eddy's Autobody and Kottkes' Bus have indicated they will dedicate the right-of-way (r.o.w.) and ponding area needed to handle the storm runoff from this proposed development and the potential new street. ACTION REQUESTED No action is needed. This is an informational update only. Respectfully submitted, :J- Will N eumeister ~ Attachments Portions of Feasibility Report XI. ASSESSMENTS The total estimated project cost is $294,128.41. After subtracting the maximum $150,000.00 contribution from the EDA, the outstanding balance to be assessed is $144,128.41. This remaining balance would be assessed to the benefitting propeliies on a 2/3 to 1/3 ratio. Two-thirds of the balance ($96,085.61) would be assessed to the Prater properties at 1786 and 1724 Bunker Lake Boulevard NW, The remaining 1/3 of the balance ($48,042.80) would be assessed to 1714 and 1716 Bunker Lake Boulevard NW (owned by Kottke's Bus Service Company). Assessments would be spread over a maximum period of 10 years at 4.5% interest. The pmiies may, at their discretion, pay off the assessment up front ~ithout intmest, or make payments prior to the expiration of the ten;n~ and incur only interest accrued up to the final payoff. The actual assessment amounts will be based upon actual quantities and unit bid prices, Any cost savings realized through the project shall be shared by all parties involved (EDA, Prater's, and Kottke's) on a percentage basis proportional to each parties committed funding levels as depicted below. Entity Committed Contribution Share % EDA $150,000.00/$294,128.41 = 51.0% Prater's $96,085.61 / $294,128.41 = 32.7% Kottke's $48,042.80 / $294,128.41 - 16.3% Please refer to Exhibit 6 in the Appendix for a preliminary assessment worksheet. XII. PROPOSED PROJECT SCHEDULE 1. City Council receives feasibility report and waives public hearing May 19,2009 2. City Council orders project and authorizes preparation of plans and specs May 19,2009 3. City Council approves plans and specifications and authorizes ad for bids June 16, 2009 4. Anticipated project approval from Coon Creek Watershed District June 22, 2009 5. Advertise for bids in the Anoka Union and Construction Bulletin June 26 - July 10, 2009 6. Receive bids July 22, 2009 7. City Council receives bids and awai-ds contract August 18, 2009 8. Contractor begins construction August 31, 2009 9. Final project completion October 30, 2009 - 2...' .- j'-''''-,<~ f/f '\ ~ . ~f ,~ . __ ; {J!" i C r ~;: -'::,- () F ,,- ,'=" ':,y,' \,"',,,",,",,,/ ," "f'.:. T'-, ~\ "--~'~',Y l'!-~~> --I-~~",~ '("~, >;"~',~~~:-" ..~ \ I '-. I I I \: I \ ,'. -< ,I .I '. t- '. \~ . -__=~: \: J.~--<".; .... ." " " .' = .-::;.:._ _' .,:....:o..=~=~.::;,;-=-~""==..,.-=,..:..::,=-=:::.:.::'"'"".:-..:.:=;:",::..--:':=-- ,.......,....,.. 1685 CROSSTOWN BOULEVARD N,W. c AI\!DOVER, MINNESOTA 55304 0 (763) 755-5100 FAX (763) 755-8923 " WWW.CI.ANDOVER.MN.US TO: Mayor and Council Members ~ CC: Jim Di,ckinson, City Adi.ninistrator 0 . FROM: David D. Berkowitz, Director of Public Works/City Engineer SUBJECT: Accept Feasibility ReportfWaive Public Hearing/Order Plans & Specs/09-22/Bunker Lake Blvd. NW Frontage Road/Jay Street Realignment - Engineering , , DATE: May 19,2008 INTRODUCTION The City Council is requested to accept the feasibility report, waive the public hearing and order the plans and specifications for Project 09-22, Bunker Lake Boulevard NW Frontage Road/Jay Street Realignment. DISCUSSION The Prater property (Eddy'sAuto Body) located at the southeast corner of Jay Street and the Bunker Lake Boulevard Frontage Road is in the process of redevelopment. Kwik Trip is working with the Prater's tb purchase the property and construct a gas station/convenience store. This redevelopment is contingent on improved access to the site. Property owned by Kottke's Bus Company will also ------re'ceive-benefit-by.such-improvements-by-providing-impr0ved-aeeess-t0.pr0perty-east-0f-th€-Frat€F-sit€~"':'..:- Attached for your review is the feasibly report that addresses in detail the improvements and costs for Jay Street and the realignment of the frontage road. Assessments are identified in the report as follows: Andover Economic Development Authority $150,000.00 (not to exceed) Prater Property $ 96,085.61 Kottke's Bus Company $ 48,042.80 If actual project cost are less than identified in the report each assessment will be reduced accordingly. All paTties have reviewed the repOlt and agree with the findings. Attached are letters waiving the public hearing. BUDGET IMPACT The project will be assessed to the benefiting properties and the EDA pOltion ofthe project will be financed thIOugh the existing Tax Increment Finance District. -3- Alayor and Council Members lviay 19, 2009 Page 2 of2 ACTION REQUIRED The City Council is requested to approve the resolution accepting the feasibility report, waiving the public hearing and order the plans and specifications for Project 09-22, Bunker Lake Boulevard NW Frontage Road/Jay Street RealiglUllent. Respectfully submitted, C;]~.~ David D. Berkowitz Attachments: Resolutior(l:etters Waiving Public Hem"in6Feasibility Report ,/ cc: Charles Peterson, Kottkes' Bus Service, Inc., 13625, Jay S1. NW, Andover Edward Prater, Eddy's Auto Body & Repair, Inc., 1786 Bunker Lake. Blvd. NW, Andover --.. - - - , ~...... _~.M~"_'.~_~_..___._.._._ .._..~..'__ ,,-__.. ~___~~_~'~____"..,,~"..~~_ _._....~~ _< . __._._____~_. ___~~.~_~__.__.~.____".___...__..__.~.. _..._ ,__..~~.._ __M .~_,,~..~,,__,~_._ _._.,,_ _ ._________._ __.._~..._~,_ ._... . _.. _~ . ." ..._._-~---~.~ -~9-- CITY OF ANDOVER COUNTY OF ANOKA STATE OF MINNESOTA RES, NO. MOTION by Councilmember to adopt the following: A RESOLUTiON ACCEPTING FEASIBILITY STUDY, WAIVING PUBLIC HEARING AND DIRECTiNG PREPARATION OF PLANS AND SPECiFICATIONS FOR PROJECT NO, 09-22 , BUNKER LAKE BOULEVARD NW FRONTAGE ROAD/JAY STREET REALIGNMENT. WHEREAS, the City Council did on the 21st day of April , 2009, order the preparation of a feasibility study for the improvement; and WHEREAS, such feasibility study was prepared by the City Enqineer and presented to the Council on the 19th day of Mav ,2009; and WHEREAS, the involved parties have waived the right to a Public Hearing; and WHEREAS, such report declared the proposed assessment to be feasible for an estimated project cost of $ 294.128.41 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Andover that: 1. The City Council hereby accepts the Feasibility Report for Project No. 09-22, for the improvements and waives the public hearing. 2. The Council will consider the improvements in accordance with the report and the assessment of abutting property and the Andover Economic Development Authority for all or a portion of the improvement pursuant to Minnesota Statutes Chapter 429 at an estimated total cost of the improvement of $ 294,128.41 MG'fIGN-seeended-by-Gel:.lneilmemeer an€!-a€! epted-ey-tRe-Gity-GeI:.lHeil at a reqular meeting this 19th day of Mav , 2009 , with Councilmembers voting in favor of the resolution, and Councilmembers voting against, whereupon said resolution was declared passed. CITY OF ANDOVER ATTEST: Michael R. Gamache - Mayor Michelle Hartner - Deputy City Clerk -f~ May 11, 2009 Andover City Engineer 1685 Crosstown Boulevard NW Andover, MN 55304 Re: Municipal Street and Utility Improvements Dear 9ity Engineer: I hereby petition fqr improvements of storm sewer and streets for the Bunker Lake Boulevard NW Frontage Road Realignment (project #09-22) with the improvement to.be assessed against my benefiting properties located at 1714 and 1716 Bunker Lake Blvd. Frontage Road (parcel id. #34-32-24-41-0005 and #3,4-32-24-41-0003). I have read the feasibility report and agree with the findings. I have reviewed the estimated costs for the work involved and agree to bear an assessment not to exceed $48,042.80, for said frontage road realignment, Jay Street median reconstruction and associated pond construction. Said petition is unanimous and the public hearing may be waived. I would like to be assessed over a ten year period at the agreed upon interest rate of 4.5%. Lastly, I agree to dedicate the needed easements, per the approved feasibility report, for the road and utility work to commence in the fall of 2009 at no cost to , - ,--- - ,- '-' ------,th e-,G it~f;-" '-' -,-,----,..,------------ --..----~ ---,--- -,-, - -, -,,- - -, ,- - -, __'__un'_.. ---- ,- -,-, ---,---------- -- ,---------,-- ,--,- ,-, --, --------,- ----- ,---,---,--- , ---,.. , [{1:t~ ~ ~ Chuck Peterson (Property Owner) CIa Kottkes Bus Service _':' 13625 Jay Street NW Andover, MN 55304 Phone (763) 755-3100 (Work) ~~ May 11, 2009 Andover City Engineer 1685 Crosstown Boulevard NW Andover, MN 55304 Re: Municipal Street and Utility Improvements Dear City Engineer: I hereby petition for improvements of storm sewer and streets for the Bunker Lake Boulevard NW Frontage Road ~ealignment (project #09-22) with the improvement to be assessed against my benefiting properties located at 1724 and 1766 Bunker Lake Blvd. Frontage Road (parcel id. #34-32-24-41-0002 and #34-32-24-41-0001). I have read the feasibility report and agree with the findings. I have reviewed the estimated costs for the work involved and agree to bear an assessment not to exceed $96,085,60, for said frontage road realignment, Jay Street median reconstruction and associated pond construction. Said petition is unanimous and the public hearing may be waived. I would like to ' be assessed over a ten year period at the agreed upon interest rate of 4.5%. ----------------------------- Lastly, I agree to dedicate the needed easements, per the approved feasibility report, for the road and utility work to commence in the fall of 2009 at no cost to the City. Sincerely, " ,"/ .--- ~~ f= /2-0<2 __ ~/ / .._..'d____ .-- / ~S:;;:_. __-""~,//':~ ...._~..... _.......~...... --- L c'~ _" ,~-- ,?>,--:;::?' , ' -7 /' ="-----:2-,.' ---' .. "c'" .. Eddy Prater (Property Owner) C/o Eddy's Auto Body 1766 Bunker Lake Blvd. Frontage Road NW Andover, MN 55304 Phone (763) 757-5353 (Work) _' r7 ____ / May 11, 2009 Andover City Engineer 1685 Crosstown,Boulevard NW Andover, MN 55304 Re: Municipal street and Utility Improvements Dear M. Berkowitz: On April 21 st the Economic Development Authority (EDA) approved a "not to exceed" dollar amount that they would contribute towards the improvements of storm sewer and streets for the Bunker Lake Boulevard NW Frontage Road Realignment (project #09-22). That amount was set at $150,000 using Tax Increment Funds from TIF Districts #1-1 and #1-2. I have reviewed the estimated costs for the work involved and on behalf of the EDA agree to pay an amount not to exceed $150,000 for said frontage road realignment, Jay Street median reconstruction and associated pond construction. In the event that costs are less than the feasibility estimate, the EDA would share proportionately in the savings. Lastly, the petition is unanimous and the public hearing may be waived. . -- -.... ~ . . ... .~. . -^ ~'" . . .~. , -. tfJ C I T Y o F @ NDOVE 1685 CROSSTOWN BOULEVARD N,W. . ANDOVER, MINNESOTA 55304 . (763) 755-5100 FAX (763) 755-8923. WWW,CI.ANDOVER,MN,US TO: EDA President and Board Cc: Jim Dickinson, Executive Director FROM: Will Neumeister, Director of Community Development VL SUBJECT: Approve Option Agreement Extension (Dynamic Sealing Technologies) DATE: June 2,2009 INTRODUCTION The EDA is asked to review and approve the "First Amendment" to the option agreement for Dynamic Sealing Technologies, Inc. (DSTI) to buy the lot directly south of the parcel they bought in 2007 (Lot 3, Block 3 and the east 35 feet of Lot 2, Block 3) to align with their current parcel. See attachments showing the subject site. The original option agreement set the terms and conditions of an 18-month long option on the land for $10,000 that will expire on July 31, 2009. On April 21, 2009 the EDA indicated that they would agree to extend the option for another 24 months. DISCUSSION As approved by the EDA on March 4, 2008, the $10,000 payment by DSTI secured the option until July 31, 2009 to allow them time to decide whether they wanted to purchase the additional land. A new 24 month option extension (beyond July 31,2009) would require the DSTI provide another non- refundable option payment in the amount of$10,000. This 24 month extension would give them until July 31, 2011 to decide whether they would buy it. This is all included in the new "First Amendment" to the option agreement (see attachment). ACTION REQUESTED The EDA is asked to approve a "First Amendment" to the option agreement for DSTI and authorize the Executive Director and EDA President to sign it. Respectfully submitted, Will Neumeister OvL Attachments: Minutes of April 21, 2009 EDA meeting "First Amendment" to Option Agreement Exhibit (depicting subject land) Cc: Jeff Meister, Dynamic Sealing Technologies, Inc., 13829 Jay Street, Andover, MN 55304 FIRST AMENDMENT TO THE OPTION AGREEMENT THIS FIRST AMENDMENT TO THE OPTION AGREEMENT (hereinafter "Agreement") is made and entered into this _ day of , 2009, by and between Andover Economic Development Authority, a body corporate and politic, 1685 Crosstown Boulevard N.W., Andover, MN 55304 (hereinafter referred to as "Seller"), and DST Properties, LLC, a Minnesota limited liability company, 13941 Lincoln Street N.E., Suite 100, Ham Lake, MN 55304 (hereinafter referred to as "Buyer"). WITNESSETH: WHEREAS, Seller entered into an Option Agreement (hereinafter the "Option Agreement") with Buyer dated April 7, 2008 for the option to purchase the following legally described real property: Lot 3, Block 3, Andover Station North, Anoka County, Minnesota AND The east 35 feet of Lot 2, Block 3, Andover Station North, Anoka County, Minnesota together with all hereditaments and appurtenances thereunto belonging or in any way appertaining (hereinafter "Option Property"); and WHEREAS, Buyer has requested a change to the Option Agreement concerning an extension of the deadline within which to exercise its option rights to purchase the Option Property from 11:59 P.M. Central Time, on July 31,2009 to 11:59 P.M. Central Time, on July 31,2011; and NOW, THEREFORE, it is hereby agreed between the Seller and Buyer as follows: 1. That part of Paragraph 4A of the Option Agreement, entitled Exercise of Option, addressing the deadline within which Buyer shall exercise its right to purchase the Option Property, shall be amended as follows: A. Exercise of Option. This Option, if not sooner exercised or extended, shall expire at 11:59 P.M. Central Time, on July 31, 2011. This Option shall be exercised by: (1) Buyer affixing its officer's signature to four original copies of the Purchase Agreement, and, (2) Delivering all four original copies of the Purchase Agreement to Seller together with Buyer's certified check as earnest money in the amount of $5,000.00. All option payments made pursuant to the terms below are not refundable in the event Buyer fails to exercise this Option. 2. As and for consideration for the extension of the Option Agreement, Buyer agrees to pay Seller an additional non-refundable down payment amount of Ten Thousand and -2..-- 00/1 00 Dollars ($10,000.00), over and above any other financial obligations contained in the parties' original Option Agreement, which shall be due and payable upon execution of this Agreement by Buyer. In the event the Option is exercised by Buyer, the original Option consideration of $10,000.00 and the extension consideration of $10,000.00 (totaling $20,000.00) shall be applied against the purchase price at the closing on the Option Property. 3. All other terms and conditions of the Option Agreement shall remain in full force and effect as originally stated. ANDOVER ECONOMIC DST PROPERTIES, LLC DEVELOPMENT AUTHORITY By By Michael R. Gamache Its: President Its By James Dickinson Its: Executive Director STATE OF MINNESOTA) ) COUNTY OF ANOKA ) The foregoing instrument was acknowledged before me this day of , 2009, by Michael R. Gamache as President and on behalf of the Andover Economic Development Authority, and James Dickinson as Executive Director and on behalf of the Andover Economic Development Authority. Notary Public STATE OF MINNESOTA) ) COUNTY OF ) The foregoing instrument was acknowledged before me this day of , 2009, by , the Chief Manager of DST Properties, LLC, a Minnesota limited liability corporation, on behalf of said corporation. Notary Public -3- EXHIBIT A TO PURCHASE AGREEMENT Vj I ~ j <1> :;... I I ~ I s' I Cl I~ 'Cl ft, ~ ~ g Q. 0;) & R:> '" "i'''' ~ " ~ <1i Cl Cl tel ~ '3 <1>" OJ ~ ~F-' ~ ~ -Cl f1'1VJ ~ ~ ~ CO :;;:3 OJ c:: c. ~ F-j <1i ~ OJ '3 C).."""?- <1> 'll ~::r1 ~~ g. :::, <b ~ ~g -lo>>- 3e - ~(fi ~ i:5 20 gct Q Cl Cl -i>. 291, 06 Cl 10 I &i ~ OJ -Cl ------ ~ --0 )> <1> ~ ::;:0 ~ 0 fTl \.,., ~ J ~ "'" (J; ---- ) 10.00 I" 29273 --,- ~I i:5 ~ -j/- 1 2 3 4 5 6 ANDOVER ECONOMIC DEVELOPMENT AUTHORITY MEETING 7 APRIL 21, 2009 - MINUTES 8 9 10 A Meeting of the Andover Economic Development Authority was called to order by President 11 G che, Apri121, 2009, 6:00 p.m., at the Andover City Hall, 1685 Crosstown Boulevard NW, 12 Andove Minnesota. 13 14 Present: Commissioners Sheri Bukkila, Don Jacobson, Mike Knight, Robert 15 Nowak and Joyce Twistol 16 Absent: Commissioner Julie Trude 17 Also present: Executive Director, Jim Dickinson 18 ommunity Development Director, Will Neumeister 19 Pu 'c Works Director/City Engineer, Dave Berkowitz 20 Others 21 22 23 24 APPRO V AL OF MINUTES 25 26 April 7, 2009 Regular Meeting: Correct as amended. 27 28 Commissioner Twistol stated on page 2, line 20 after the word p I she would like the following 29 sentence added, "Owner of Eddy' s Auto Body responded there was no ardous waste and the EP A 30 had issued a report when Eddy's refinanced two years ago". 31 32 Motion by Jacobson, Seconded by Knight, approval of the minutes as amende 33 unanimously. (Trude absent) 34 ...._, 35 .. EXTEND OPTION AGREEMENT (DYNAMIC SEALING TECHNOLOGIES) 36 37 Mr. Neumeister stated Jeff Meister, owner of Dynamic Sealing is in attendance and is requesting 38 an extension on a current option agreement to purchase additional land that will expire July 31, 39 2009. Mr. Neumeister explained staff is supportive of an 18 or 24 month extension provided Mr. 40 Meister provides a non-refundable payment of$10,000. 41 42 Mr. Meister stated he is requesting a 24 month extension. 43 44 Commissioner Jacobson suggested a Right of First Refusal without a non-refundable payment of 45 $10,000 so the ED.A. could actively market this parcel for the 18 month extension. Mr. 46 Dickinson stated the reason they went with an option agreement instead of a Right of First 47 Refusal is Mr. Meister wants to know what that target price is going to be. With Right of First 48 Refusal the price may not be what Mr. Meister negotiated. -~~ Andover Economic Development Authority Meeting Minutes - April 21, 2009 Page 2 1 2 Mr. Dickinson stated he's not opposed to the 24 month extension based on the current activity 3 and there is no immediate interest in this parcel. There are other parcels in Andover Station 4 North to actively market. There is more long term value with Dynamic Sealing expanding than 5 starting from scratch. 6 7 The $10,000 non-refundable payment was discussed. 8 9 Motion by Gamache, Seconded by Jacobson, to grant a 24 month extension to the current option 10 agreement with Dynamic Sealing Technologies, Inc. with an additional $10,000 non-refundable 11 option payment. Motion carried unanimously. (Trude absent) 12 13 SCUSS MONUMENT SIGN AGREEMENT 14 15 Mr. Ne eister stated Louis Rudnicki and Scott Brenner requested temporary use of the two 16 large mon ent signs located on Hanson and Bunker Lake Boulevards. Mr. Rudnicki drew up a 17 Temporary Sl Agreement which the City Attorney has looked over and made some changes. 18 19 20 21 Motion by Knight, Secon by Jacobson, to approve the Temporary Sign Agreement in 22 Andover Station North. Moti carried unanimously. (Trude absent) 23 24 APPROVE BANNER DESIGN ~ 25 26 Mr. Neumeister presented three different c ices of green canvas for the banners in Andover 27 Station. 28 29 Commissioner Knight asked about the fade factor. . Neumeister responded there is three years 30 ofUB protection. 31 32 Motion by Jacobson, Seconded by Knight, to approve the fore reen canvas for the banners in 33 Andover Station. Motion carried unanimously. (Trude absent) 34 35 PURCHASE AGREEMENT/LETTER OF INTENT/PROGRESS RE 36 37 Mr. Neumeister gave an update on the following: 38 39 Moose & Co. Grill House - Owner, Andy Stoner is working locally for financing. 40 project is complete. 41 42 K wik Trip - The City will be moving forward with the feasibility to get the costs in line. 43 Everyone involved seems to be willing to pay for some of the project. The costs need to be fine 44 tuned. --;6--- @ 1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304. (763) 755-5100 FAX (763) 755-8923 . WWW,CI.ANDOVER,MN,US TO: EDA President and Board CC: Jim Dickinson, Executive Director FROM: Will Neumeister, Director of Community Development t~ SUBJECT: Discuss Business Outreach Program/Business Development Day (Golf Tournament) DATE: June 2, 2009 INTRODUCTION For seven years now, staff has worked to market the City and Andover Station at the Annual Business Development Day (golf tournament). We would like to discuss with the EDA whether there are other efforts the EDA would like to make to reach out to the business community. DISCUSSION The only real cost to the City and EDA is the staff time involved in putting on the event. It has been financially supported by the hole sponsors and the fees collected from the golfers. Each year we have balanced the income to meet the expenses. No tax dollars or TIF dollars have been expended other than to pay the staff time to put it together and run the event. Again, we have used it as our once a year event to promote business and development and it has worked quite well at virtually no cost. The last few year's attendance at the banquet has been between 112 and 166 people. We have become successful at promoting and running the event and have good attendance numbers, so we feel it has been worth the effort. The question for the EDA is what else would you like to do to promote business and development networking beyond this annual event? Attached is the powerpoint presentation that will be used at this year's event. ACTION REQUESTED The EDA is asked to discuss whether they would like to expand the outreach to the Andover business community. Respectfully submitte~ Will Neumeister Attachment Powerpoint printout c - I- ra .... en, ::I e c e CD I- e E c <C CD CD .c Q. .... Q. ..., 0 ra Q. r-.. - -a ra 'CD I- > Q. .c ::I CD ::) gJ ..~ 0 Q II) 0 fIJ II) en l_ cu .... CD CD II) l- ta CD en E II) .c.c CD 0 u.... 0 C I- D. CD U 1- - II) I- CD ::I ra 3: a:a CD I- CD .c I- ........ c CIJ E c.. o - CIJ - >. . . -- CIJ . c o en .- I 5 ~ z ro -I-l 0........ Q) ..c: ..c ..... en -1-1 I-.C (/) <c g .~ 1-.- E U)> . 0 ~ E ~ Wv> 0 >.- 0 o Q Z <C ::c ~ 0 z z . 0 . . . .... bJ) tc ~ .~ ~ ~ I- 0 ~ ~ ~ ~ a: ro .,.0 W (I) > ~ 0 "'0 Q (]) ~ z ~ cc rJJ bJ) ~ .~ "'0 ro ~ bJ) (]) ~ ~ V) :c c ~ en I- V) . 0 ..., . . c . Z cu V) z E cu V) 0 ::s V) ..... c cu =c 0 c I- E V) Iii ::s ~ .Q' ~ cu w c > V) 0 ftI Q :c z CC . . . . . en :c c ~ I- . 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C fa .... l- eu U) 1- '" :I U eu eu c .Q > I.. I- e. .... E I- :I ~ ~ e. 0 0 fa > ~ u 0 I.. -a eu ~ c. e. <C 0 . . .c . eu ~ . C I T Y o F @) NDOVE 1685 CROSSTOWN BOULEVARD N,W, . ANDOVER, MINNESOTA 55304 . (763) 755-5100 FAX (763) 755-8923 . WWW,CI.ANDOVER,MN,US TO: EDA President and Board CC: Jim Dickinson, Executive Director FROM: Will Neumeister, Community Development Director !p- SUBJECT: Purchase Agreement/Letter of Intent/Progress Review/Banners DATE: June 2, 2009 INTRODUCTION This memo is an update of all development activities in the Andover Station area: Moose & Co. Grill House - The owners are still working on getting financing. Office Development and Retail Development Sites - There are no recent inquiries to report. Monument Signs - Louis Rudnicki and Scott Brenner are working on the amendment to the sign agreement as discussed on April 21 st with the EDA . Kwik Trip - The update is being presented as a separate item on this evening's agenda. Restaurant Site - We continue to pursue new restaurants to purchase one of the lots in Andover Station North. Most recently we received a tip from Bob Nowak about the Vineyard restaurant and pursued it to no avail (see reverse side of this report). Dynamic Sealing Technologies - On April 21 S\ the EDA agreed in concept to another time extension on their purchase option. The option extension agreement is on this evening's agenda. Banners - They have been received and are now ready to be installed. They should be up in about two weeks. 1" Annual "Business Development Day" Golf Tournament- The event is scheduled for Weds." June 17th at Greenhaven Golf Course. We would like to show the EDA the power point that will be presented at the dinner. We are inviting the new business owners in Andover Station North to attend the dinner. If you want to attend the banquet please contact Brenda Holmer at (763) 767-5141. ACTION REQUESTED This is an informational update only, no action is requested. Respectfully submitted, t:!- Will Neumeister {h From: Robert Schachtschneider [bobs-vineyard@hotmail.com] Sent: Thursday, May 21, 20098:27 AM To: Will Neumeister Subject: RE: Andover Restaurant Site Will, Thankyou for your response. My interest is to have a operator move the Vineyard to a new location without my involvement other than to perhaps make sure it follows the Vineyard model and therefore the Vineyard concept. My main concerns are, first to retire and second to keep the Vineyard alive somewhere. There will be a huge demand for the Vineyard in a new location with a qualified operator. If you can help find that operator, that would be great for the community. Email any interest you may discover. Thanks again! Bob ":<'~""""""=-""'==-=-===""'~"'",,,"''<,.,r.,",'''''''=~~''''=='''''''''''''.'='><<''''''''':I<'''_'':X,~_=-<,-"""",,,>,,,C)==,,,.,,,,,,,,,,~,,,,,,~~_=--==..>,,=<-_.,=>>==>.<...,..,,.m=X'"=":>_="==~"' """"""''--=<'"':o=>"_=.,~'''')<O,==-.===,..".=.."".='''"''===o-..=...-=~~__=''''''' Subject: Andover Restaurant Site Date: Wed, 20 May 2009 10:58:58 -0500 From: WNeumeister@ci.andover.mn.us To: bobs-vineyard@hotmail.com Robert, We saw your ad in today's newspaper. We have a couple of sites in Andover that would be ideal for your new restaurant. They are along either Hanson Blvd. or Bunker Lake Blvd. (both County Highways) and are owned by the City of Andover EDA. They have been asking me to seek out restaurants to locate there, If you would like to see the sites first hand, give me a call or respond to this email and I will make arrangements to meet you there so you can see them. 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