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HomeMy WebLinkAboutEDA - September 6, 20111685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.AN DOVE RMN.GOV ECONOMIC DEVELOPMENT AUTHORITY MEETING September 6, 2011 6:00 p.m. Conference Rooms A & B 1. Call to Order — 6:00 p.m. 2. Approval of Minutes (August 16, 2011 Regular; August 16, 2011 Closed) 3. Monument Entrance/Electric Reader Board Update 4. EDA Project Progress Report 5. TIF District Cash Flow Update 6. Other Business 7. Closed Session - Parkside at Andover Station Negotiations Update 8. Adj ournment C� 1685 CROSSTOWN BOULEVARD N.W.. ANDOVER, MINNESOTA 55304 . (763) 755 -5100 FAX (763) 755 -8923 • WWW.CI.ANDOVER.MN.US TO: Economic Development Authority CC: Jim Dickinson, City Administrator FROM: Michelle Hartner, Deputy City Clef SUBJECT: Approval of Minutes DATE: September 6, 2011 INTRODUCTION The following minutes were provided by Timesaver for EDA approval: August 16, 2011 Regular August 16, 2011 Closed DISCUSSION The minutes are attached for your review. ACTION REQUIRED The EDA is requested to approve the above minutes. Respectfully submitted, Michelle Hartner Deputy City Clerk Attach: Minutes 1 2 3 4 5 6 7 ANDOVER ECONOMIC DEVELOPMENT AUTHORITYMEETING 8 AUGUST 16,2011 - MINUTES 9 10 11 A Meeting of the Andover Economic Development Authority was called to order by Acting 12 President Julie Trude, August 16, 2011, 6:00 p.m., at the Andover City Hall, 1685 Crosstown 13 Boulevard NW, Andover, Minnesota. 14 15 Present: President Mike Gamache (arrived at 6:04 p.m.), Commissioners 16 Sheri Bukkila, Don Jacobson, Mike Knight, Julie Trude, and 17 Robert Nowak 18 Absent: Commissioner Joyce Twistol 19 Also present: Community Development Director, David Carlberg 20 Executive Director, Jim Dickinson 21 Director of Public Works /City Engineer, Dave Berkowitz 22 23 24 APPROVAL OFMINUTES 25 26 July 19, 2011, Regular Meeting: Correct as written. 27 28 MOTIONby Jacobson, Seconded by Bukkila, approval of the Minutes as presented. Motion carried 29 unanimously. 30 31 July 19, 2011, Closed Session: Correct as written. 32 33 MOTIONby Jacobson, Seconded by Bukkila, approval of the Minutes as presented. Motion carried 34 unanimously. 35 36 President Gamache arrived at the meeting at 6:04 p.m. 37 38 MONUMENT ENTRANCE /ELECTRIC READER BOARD UPDATE 39 40 Community Development Director Carlberg updated the EDA regarding the locations for a 41 monument sign on Round Lake Boulevard and an electronic reader board at the intersection of 42 Crosstown Boulevard and Bunker Lake Boulevard. 43 44 Round Lake Boulevard 45 46 Community Development Director Carlberg stated the easement has been staked for the Round 47 Lake Boulevard sign and the stakes are located in the front yard of two houses. He stated general 48 information was submitted to the Anoka County Highway Department regarding the proposed Andover Economic Development Authority Meeting Minutes —August 16, 2011 Page 2 location, size and type of sign to be erected. Referencing a staff report map, he stated site one would place a sign in the right -of -way behind the sidewalk just before the property line of the home. He stated site two is located south of Andover's border in Coon Rapids where a townhouse association has additional property. Community Development Director Carlberg has not yet contacted the City of Coon Rapids for site two. He is waiting to hear from the Anoka County Highway Department if the sign can be placed in the right -of -way, under a license agreement for site one. 9 Commissioner Trude confirmed that site one is the recommended location by the Sign 10 Committee. 11 12 Commissioner Bukkila asked if there are any additional costs for either of the signs. Community 13 Development Director Carlberg responded there could be extra costs with site two. If the right - 14 of -way is not allowed, an easement would be needed from the townhome association. 15 16 Commissioner Jacobson asked if the right -of -way width is the same in Coon Rapids. 17 Community Development Director Carlberg responded it should be, but he does not have 18 anything that shows the width. He would get this information from the Anoka County Highway 19 Department. 20 21 Commissioner Knight asked if the City could use the existing wiring. Community Development 22 Director Carlberg responded there is no existing wiring for a cabinet, but there is power in the 23 area. 24 25 Commissioner Trude stated the Sign Committee recommended a nine foot wide sign at site one 26 and the attached diagram shows an eleven foot wide sign. She stated a full size sign will be used 27 at Bunker Lake Boulevard in both locations and a reduced scale sign will be used for Round Lake 28 Boulevard. Community Development Director Carlberg responded the sign will have to be 29 reduced to fit the space. Executive Director Dickinson stated the size of the sign will be scaled 30 to each site, the handout depicts the concept. 31 32 Commissioner Bukkila stated her preference is site two. She would like to know what the cost 33 will be. She stated site one is in Andover, but it may be an imposition for the Andover resident. 34 She believes, site two would not impact or minimally impact anyone. Community Development 35 Director Carlberg responded he needs to call the City of Coon Rapids. He does not know if 36 Coon Rapids will allow an Andover sign in their City, but suggested we could partner with Coon 37 Rapids, one side for Andover and one side for Coon Rapids. 38 39 The Economic Development Authority's first choice on a site for a sign on Round Lake 40 Boulevard is site two. 41 42 Crosstown/Bunker Lake Boulevards 43 44 Community Development Director Carlberg stated he submitted to the Anoka County Highway Andover Economic Development Authority Meeting Minutes —August 16, 2011 Page 3 1 Department general information regarding the proposed location, type of sign with size and 2 dimensions, and a request for permitting and execution of a licensing agreement. This location is 3 Anoka County's property. He is waiting for the Anoka County Highway Department to respond. 4 5 Community Development Director Carlberg met with Scott Maciej of DeMars Signs to review 6 the size of the sign in relation to the location. Based on the discussion, a revised schematic of the 7 sign reducing the height and length of the sign was determined due to the elevation of the land. 8 Commissioner Trude stated the sign's view angle is 130 degrees. Community Development 9 Director Carlberg suggested moving the sign further back. President Gamache stated the angle of 10 the sign in the picture is good. 11 12 Community Development Director Carlberg stated the timeline for the signs installation is before 13 winter. He stated the landscape up -keep will be Andover's responsibility. He mentioned the 14 reader board will be the same size as the one at City Hall. Community Development Director 15 Carlberg stated he will continue working with Anoka County and he will stake a location for the 16 sign so the EDA can get a feel for where the sign will be. 17 18 Commissioner Knight asked about Rosella Sonsteby and the west entrance to the City. Community 19 Development Director Carlberg stated a verbal agreement has been made. Executive Director 20 Dickinson stated the road construction of Bunker Lake Boulevard will be coordinated with the new 21 monument sign. 22 23 EDA PROJECT PROGRESS REPORT 24 25 Community Development Director Carlberg provided an update on the status of EDA activity as 26 detailed in the staff report. 27 28 Dynamic Sealing Technologies, Inc. — Community Development Director Carlberg stated a 29 building permit was issued for Dynamic Sealing Technologies, Inc. Construction completion is 30 expected within 90 days. He stated Dynamic is waiting on their structural steel order. It was 31 noted that Dynamic is expected to hire more staff. 32 33 Concerts in the Park — Community Development Director Carlberg stated there was a concert in 34 the park last Thursday. Commissioner Jacobson and his wife attended the concert earlier in the 35 evening, but he was disappointed with the poor attendance. Community Development Director 36 Carlberg stated approximately twenty residents attended the concert that evening. Discussion 37 took place on increasing the advertising of the concerts by posting banners a week prior to the 38 concert and involve community businesses to promote the concerts. Issues such as timing, 39 location, changing the name, and support from the business community were discussed. 40 Community Development Director Carlberg asked the EDA to email to him alternative name 41 suggestions. He will contact and work with the business community. 42 43 Andover Station North Parking Lot — Community Development Director Carlberg stated the bid 44 for the Andover Station North Parking Lot was awarded on August 40' and construction is Andover Economic Development Authority Meeting Minutes — August 16, 2011 Page 4 1 scheduled to start mid - September. 2 3 Andover Station Service Road Concept — Community Development Director Carlberg stated 4 over 90 parking spaces will be lost with the Andover Station Service Road Concept project if the 5 roadway goes through between Martin Street and Jay Street. Mr. Carlberg is researching the site 6 plans for parking requirements from the businesses in the area to avoid a parking deficiency and 7 what kind of roadway design will go through. He commented a through drive access would work 8 nicely in this area. Commissioner Nowak asked if the EDA has made a final decision on this 9 project. He stated he would like to see the money used for the median on Bunker Lake 10 Boulevard. Commissioner Trude stated Tanners, Andover Cinema, Target, Wells Fargo, 11 Courtyards want a turn lane and buy in from these businesses is important. President Gamache 12 stated the through access was the City's idea. Commissioner Trude suggested the City host a 13 mingling event with the business community. 14 15 Andover Station Area Medians — Community Development Director Carlberg stated the City 16 had a three year contract with Prairie Restoration Incorporated. He reported that the wild flower 17 plantings in the Andover Station median do not appear to be successful but prairie grass is 18 establishing. He stated under the contract Prairie Restorations will do one more weed killing and 19 maintenance of the median. He commented the interior lanes will need to be closed for Prairie 20 Restorations to do the work. He stated that for an additional $1,000, Prairie Restorations will do 21 another planting of wildflower plugs and over -seed the median. President Gamache suggested 22 more discussion on this topic at the next EDA meeting. 23 24 Andover Station North — Community Development Director Carlberg stated the Public Works 25 Department is mowing the unsold lots in Andover Station North. Mr. Carlberg is waiting to hear 26 if a big box store will fit in the area and staff is working on plans to shift Jay Street thirty to forty 27 feet to accommodate the fit.. 28 29 MetroMSP and City Website — Community Development Director Carlberg stated he has 30 updated the MetroMSP website and he is now the contact person for all of the economic 31 development activity for the City. Commissioner Trude suggested Community Development 32 Director Carlberg update the Anoka County website as well. 33 34 Potential Restaurants — Community Development Director Carlberg stated title work is being 35 done on the Moose & Co. site. He mentioned that help from the City's attorney may be needed 36 to interpret bankruptcy proceedings. 37 38 Redevelopment — Community Development Director Carlberg stated he is looking to_ assemble 39 properties in the Crosstown Drive /Crosstown Boulevard area. One four -plex, in the last month, 40 came up for sale but was sold prior to the real- estate agent listing the property. The four -plex 41 was bought in 2006 for $400,000 and sold for $270,000. He asked the agent, if he represents any 42 of the land owners in the area, to call him first to talk about the City acquiring properties in that 43 redevelopment area. 44 Andover Economic Development Authority Meeting Minutes — August 16, 2011 Page 5 1 TIF DISTRICT & EDA BUDGET UPDATE 2 3 Executive Director Dickinson presented the Tax Increment Financing (TIF) District Cash Flow 4 and EDA Budget update. Mr. Dickinson highlighted five points of the report: 5 1. The City is debt free this year with the TIF Districts. 6 2. Land sale for Dynamic Sealing Technologies. 7 3. With new estimated costs, the primary project now is getting the access street into the 8 139' Avenue lot and overflow parking for the ball field complex. 9 4. Non - increment related items; the proceeds in the project file have the ability to be 10 transferred out. Non - increment cash was used to maintain a positive cash balance. 11 5. Land purchased prior to July 1, 1997 and resold is not classified as increment and can be 12 transferred out for other qualifying purposes. 13 14 Commissioner Knight stated he had read an article in the Star Tribune on cities increasing their 15 TIF districts because State aid is not coming in. Executive Director Dickinson responded 16 Andover does not receive State aid referred in the article. Commissioner Trude stated she had 17 read an article today about cities using TIF to attract businesses. 18 19 OTHER BUSINESS 20 21 RECESS TO CLOSED SESSION 22 23 President Gamache recessed the EDA meeting at 6:56 p.m. for the purpose of holding a Closed 24 Session to receive an update on Parkside at Andover Station negotiations. 25 26 The meeting was reconvened at 7:04 p.m. 27 28 ADJOURNMENT 29 30 Motion by Jacobson, Seconded by Bukkila, to adjourn. Motion carried unanimously. The meeting 31 adjourned at 7:05 p.m. 32 33 Respectfully submitted, 34 35 Linda Dahlquist, Recording Secretary 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.CI.ANDOVER.MN.US TO: FROM: SUBJECT: DATE: President and Commissioners Jim Dickinson, Executive Director David L. Carlberg, Community Development Director Monument Entrance/Electronic Sign Update September 6, 2011 INTRODUCTION The EDA is requested to receive a presentation from the Community Development Director at the meeting. DISCUSSION Monument Entrance Signs and Other Electronic Reader Board Signs Round Lake Boulevard Location — monument only At the August 16'x' EDA meeting, staff informed the EDA that additional information on the location and size of the sign was submitted to the Anoka County Highway Department (ACHD) for their review on August I Vh- On August 23`d Staff received direction from the County as follows: To initiate the process for either or both of the monument sign installations in the county ROW, the City should send the county a letter requesting the preparation of a License Agreement to allow for the installation of a City Monument Sign within the county ROW. The letter of request should include detailed engineering plans that show specifically how each sign installation is to be constructed and orientated, along with utility connections, landscaping, and any other elements that the City wishes to place within the county ROW. We would then process the request thru the Public Works Committee (PWC), prepare a draft License Agreement and send it to the City for review and execution. Once executed by the City and sent back to the county, the License Agreement would then go back before the PWC and the County Board for final approval. Once approved, the plans for the monument signs would be submitted to the ACHD for approval thru the ACHD Engineering Plan Review process, and when the Engineering Plan Review process is complete, the contractor installing the monument signs could contact the Permit Office to obtain the necessary permit(s) for work within the county ROW to construct the monument signs. The sign to be located along NB CSAH 9 at the Andover City Limits: 1. It appears that there is approx. 11.28ft between the sidewalk and the edge of the ROW in this area, which may not be enough space to orientate the monument sign. (see attached PDF detailing this location) Further review by the City is suggested to make sure that this location will meet the long term needs of the City. 2. A License Agreement would be required between the City and the county (see attached example License Agreement) In discussion of the two proposed locations as depicted on the attached map, the EDA on August 16t` directed staff to pursue the location south of the corporate boundary as the preferred location. Staff has sent correspondence to the City of Coon Rapids requesting feedback on the location and asking if they would have concerns or issues with the proposed placement. To date a response has not been received. Staff inquired as to whether the County would have issue with the sign being in the corporate boundaries of the City of Coon Rapids although located in County ROW. County response was that they would need to run the request thru the county attorney's office to see if a letter of concurrence from the City of Coon Rapids would suffice, or if they would need to involve them more formally in the license agreement. CrosstownlBunker Location — monument with electronic reader board In response to the additional information sent to Anoka County Highway Department on August 11'h, the County responded as follows: 1. The sign should be located outside of the Case I Sight Distance Requirements (see attached PDF re: sight distance availability vs. requirements at this intersection) 2. A License Agreement would be required between the City and the county (see attached example License Agreement) Staff inquired as to the placement of the sign and that it "should" be located outside the Case 1 Sight Distance. Staff proposed to place it near the sight distance and orient the sign at an angle to the intersection to minimize the impact on the sight views for southbound traffic on CSAH 18. Direction given was that the City could propose this and the decision will be at the discretion of the Assistant County Engineer and/or County Engineer. Staff is in the process of drafting separate letters for each sign location requesting a license agreement be prepared for each location. Staff is also preparing the additional exhibits to be included with the submittal. ACTION REQUESTED Receive a presentation and provide direction to staff if necessary. Respectfully submitted, David L. Carlberg 71 o Po Disclaimer: This information is being distributed as demonstration data only. You should not use the data for any other purposes at N this time. This information is to be used for reference purposes only. w E Copyright © 2091 City of Andover, All Rights Reserved S � � � � � \ � � � / � \� � � � � ? . /������ �� ��� � \ �% ��� � <\ \�\ . � �\\ ) ^ \* \7 \! Y�� Nx % Anoka County Highway Department Case I Sight Distance Diagram For — Intersecting Two Lane, Two Way Roadways With Stop Control On Minor Roadway This Case should provide sufficient sight lines to give: a) Stopping sight distance (corresponding to the design speed) to the vehicle traveling on the minor roadway.. The distance is measured from the center of the lane on which the mainline vehicle is traveling. Roads with design speeds of less than 30 mph shall provide sight distance equal to the stopping sight distance for a design speed of 30 mph. b) The vehicle traveling on the mainline 3 seconds to change speed before reaching the minor roadway, This distance is measured from the center of the approach lane on the minor roadway. Sight tine testing shall be conducted using a height of eye equal to 3.5 feet and a height of object equal to 4.25 feet Case I Sight Distance Diagram Case I Sight Di T_L! Design- Speeds 30 35 -40-T-45 1 50 55 60. 68 Distance "A" 138 160 182 204 226 248 270. 292 Distance "8" 126 148 • 170 102 214 236 258 280 Distance "C" 194 232 269 I 319 I 369 444 519 544 Distance "D" 206 244 1 281 331 381 456 531 556 NOTE: THtw 5iX Fuu i OFFSE i FROM GEN i OF A TWELVE FOOT DRIVING LANE IS BUILT INTO THE DIMENSIONS s GIVEN IN THIS TABLE. MEASUREMENTS IN THIS TABLE ARE TO BE i APPLIED ALONG CENTERLINE OF BOTH ROADWAYS. t . v �C us lnrzs G y J 2S� Ti2c -mss 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 FROM: Jim Dickinson, Executive Director David L. Carlberg, Community Development Director SUBJECT: EDA Activity - Project Status Report DATE: September 6, 2011 This memo provides a brief update of all EDA activities. Further details will be provided at the meeting. 2011 Special EDA Events — "Music at Andover Station Tonight" Staff contacted Kurt Stenson, NorthMarq to be placed on an upcoming association meeting agenda to discuss with the board the music activities at the pergola and how to get businesses involved. There has not been an association meeting scheduled to date. Staff did learn that the Festival Foods area business association does put on a Halloween pumpkin event in October. They provide events for kids and give away pumpkins. This event is funded annually through association dues collected from the business for marketing efforts. In 2009 they had 225 kids attend. In 2010 they had over 400 kids. Staff discussed the idea of the City EDA participating in the event and ways to expand the event. Staff would like the EDA to consider contributing towards this event. ASN Parking Lot — Construction of the lot is scheduled to commence on September 2nd. Completion date under the contract is September 30, 2011. This driveway /parking lot is budgeted for as a TIF project expense. Andover Station Service Road Concept — Staff has started conceptual discussion with some of the business owners in the Andover Station area to gauge support. Staff is evaluating the impact of the through street/road in relation to parking requirements for the adjacent businesses. This concept is being presented as an alternative to the proposed Bunker Lake Blvd. left turn lane to Martin Street. Also as part of this discussion are directional signage options. Andover Station Area Medians — Prairie Restorations Incorporated (PRI), will be doing another maintenance and weed control in September as a part of our maintenance contract. Andover Station North — Mowing of the unsold lots is currently being monitored by staff. Public Works is being utilized to do the mowing, but if availability becomes an issue, staff will utilize the City's abatement contractor for periodic mowing. Available sites are actively being marketed. www.MetroMSP.ora and City Website — Staff continues to monitor the EDA's land sales information on the MetroMSP website sponsored by Anoka County. We have also shown information on other commercial and industrial lands that are for sale in Andover on both the www.metromsp.org and in the past on the city planning department's website. Staff is currently updating the city's website to include and economic development department to provide prospective businesses easier access to available commercial/industrial properties as most parties interested look for an economic development section of a city's website if they are inquiring about available properties/buildings. Staff continues to receive positive feedback from commercial property owners that they have received calls on their property from brokers viewing the MetroMSP website. Potential Restaurants — Staff has submitted site and demographic information to three potential restaurants in the past week. Staff also continues to research the Moose & Co. site to determine current impediments to continued development or resell the site. Redevelopment —Staff is monitoring the area for potential acquisitions as they become available. Staff also continues to pursue the use of Community Development Block Grant Funds (CDBG) to install municipal water service in the area of 140' Lane NW. Parkside at Andover Station Negotiations - Staff has completed negotiations with Premier Bank and Bruggeman Homes. A detailed progress report will be made as part of a separate agenda item. ACTION REQUESTED a presentation from staff and provide direction. spe ly submitted, Jim nson David Carlberg 2 A,Lb 6, Y A (D 1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100 FAX (763) 755 -8923 • WWW.CI.ANDOVER.MN.US TO: President and Commissioners FROM: Jim Dickinson, Executive Director SUBJECT: TIF District Cash Flow Update — August 2011 DATE: September 6, 2011 INTRODUCTION The EDA is requested to receive the monthly Tax Increment Financing (TIF) District Cash Flow update. DISCUSSION The Executive Director will use the attached TIF Cash Flow Analysis as the basis for the TIF District financial update and to facilitate discussion. ACTION REQUESTED Receive a presentation and provide direction to staff. a— N r M W w W t0 V O LL CDT T N N Im El ° E y O2 M M p r r r r- r p C LL N a) O 0 L Ew a 0 N N ° r N O d M O u � x m 9 N n a a �- O t C G N � � O O y M � C 6 OMj r r r r r r Z T r LL 0 m 04 a yp p an 0 @O � a F- O w E m L O V a M M v r r r v LL v V _ p LL y E O N ° E y O2 M M p r r r r- r p C LL N a) O 0 L Ew a (° C o N M r r r CA O O (") (") f") N ° c 1 O E � 0 L c (° C o N M r r r CA O O (") (") f") N O LL Q m M M � x m tu m o r rn rn rn 7 m n �- O t C a U r W O d M v r r r i r p 2 0 @O � a w E m d M N N N N N N v V C 0 O 8 W d N ' O a O LL G F r LL W O 'y U Q � O LL U p CL d � 0 a° N LL_ C W d m � c CO 0 (L `m J y� _ d O H a) 0 0 d � C N a w d 0 L c (° C o N M r r r CA O O (") (") f") N O LL Q m m N m O fD (O (a) M O u� r � x m tu m o r rn rn rn L4 �- O t C a U r W O M M L(�p• r r r i r p N 01 CA CA m @O � a w E m v V N LL y E O N r r M M c c E O N G V V r rn m CL E2 � � O (n u O O C r r r ONj ° L U m m d o w.r.. r1°n .r.. .p... CA Y N m a U °° r 0 O O O J L U O J m y� _ d O H a) 0 0 d � C N a w d CL U aau 0 0 0 0 0 0 0 0 0 0 E m rn rn c )r � U •E c (9 � E 0 i M N N N N N N r 0 L LO O L4 O t C r W O a0 � m @ •O O d N 01 CA CA m @O � a m H < E � y E E c r r M M c c E rn rn N G V V r rn m m a N � � (n u ° L C _ F' •° m m F m a °° r 0 O O O J L O J °q � � 0 i M N N N N N N r (Top 3 inches reserved for recording data) RELEASE OF LAND FROM JUDGMENT LIEN DATE: �, 2011 FOR VALUABLE CONSIDERATION, the real property in Anoka County, Minnesota, legally described on the attached Exhibit A, is hereby released from the lien of the judgment owned by the undersigned and docketed July 9, 2009 in the District Court in Anoka County, Minnesota, Case No. 02 -CV -09 -5200 in favor of Construction Mortgage Investors Co., and against Briuggeman Properties, LLC, a Minnesota limited liability company (the "Judgment "). The Judgment has been recorded as Document No. 499567.009 in the Office of the Registrar of Titles, Anoka County, Minnesota. CONSTRCUTION MORTGAGE INVESTORS CO. By: ,� / Its: 0 �% - STATE OF MINNESOTA ) ) as. COUNTY OF ) The foregoing instrument was acknowledged before me this J.&,d day of (,_ 2011, byl&r�s P- Gam,. c the Cry V. P of Construction Mortgage Investors Co., a Minnesota corporation, on behalf of the corporation. This Instrument drafted by: Peter J. Sajevic, III, Esq. Leonard, O'Brien, Spencer, Gale & Sayre, Ltd. 100 South Fifth Street, Suite 2500 Minneapolis, Minnesota 55402 (642) 332 -1030 442047 C 0-"--AQD, Public `/ My Commission Expires: 31 I 1`JS CONNIE KELLER Notary Pubfie Minnesota :ammissionExpirasJanus 31.2015 EXHIBIT A LEGAL DESCRIPTION Parcel A: Lot 1, Block 1, and Lot 1, Block 2, Parkside at Andover Station, Anoka County, Minnesota. Parcel B: Lots 10 and 19, Block 2, Parkside at Andover Station, CIC No. 255, Anoka County, Minnesota. Parcel C: Lots 2, 3, 4, 7, 8 and 9, Block 2, Parkside at Andover Station, Anoka County, Minnesota. Parcel D: Lot 17, Block 1, Parkside at Andover Station, CIC No. 255, Anoka County, Minnesota. Parcel E: Lots 1, 2, 3, 4, 5, 6, 7, 8 and 9, Block 2; Lots 1, 2, 3, 4, 5 and 6, Block 3, Parkside at Andover Station 2nd Addition, Anoka County, Minnesota. Parcel F: Lots 4A, 5, 6 and 7A, Block 2, Parkside at Andover Station, Anoka County, Minnesota. Parcel G; Lot IA, Block 2, Parkside at Andover Station, Anoka County, Minnesota. 1685 CROSSTOWN BOULEVARD N.W. o ANDOVER, MINNESOTA 55304 0 (763) 755.5100 FAX (763) 755 -8923 a WWW.CLANDOVER.MN.US August 23, 2011 Premier Bank 2866 White Bear Avenue Maplewood, MN 55109 Subject: Offer for Parkside at Andover Station Model and Vacant Lots Dear Directors: The Andover Economic Development Authority (AEDA) is willing to extend an offer to Premier Bark in the amount of $185,000 For a release of any and all claims to the Parkside at Andover Station current model and vacant lots as outlined below. The City offer includes the following tentative terms and contingencies: I. AEDA's offer is for area identified on the attached aerial as #2 (highlighted hi orange) and #4 the Parkside at Andover Station Model ( highlighted blue & outlined in black. 2. Premier Bank will be required to release Bruggeman Properties LLC and it's guarantors of area #2 and #4 on the attached aerial 3. AEDA offer is contingent on Bruggeman Properties LLC & Premier Bank being able to provide a lien and judgment free deed to AEDA for areas 42 and #4 on the attached aerial. 4. AEDA offer is contingent on all related association dues and utilities being paid to date for areas #2 and #4 on the attached aerial. 5. AEDA offer is contingent upon, AEDA conducting a complete physical inspection of the property and being satisfied with said inspection. 6. AEDA offer is contingent upon, AEDA review and approval of the current association documents for Parkside at Andover Station development. 7. AEDA offer is contingent on Bruggeman Properties LLC providing a. release to AEDA to utilize Vie 8 -plea and 4 -plex building plans in the Parkside at Andover Station Developments, 8. All other normal terms and conditions for a closing are included in the offer. 9. This offer is contingent upon successful completion of AEDA,s previous offer for Parkside at Andover Station e Addition; dated May 26, 2011; accepted by Premier Bank on June 3, 2011. 10. This offer is valid until 4.30 n m on Sentember 6. 2011 and at that time die offer will ox&a. Upon your acceptance of the tentative terms I will forward to the AEDA for board approval and I will have a. formal agreement prepared and -authorize Iegal counsel to facilitate the transaction: Please contact me at 763 -767 -5110 if you have any questions. Acceptance of Offer- 2 Date ,kinson Premier Bank Executive Director �yv x City Administrator Attachment n \�I�bvate' Parkside At Landover Station 1,82 .1 ; . Inc uryoratea Existing Lots and Preliminary Platted Lots ' . i I �� .... .. I � I 1 I _ n9. vb fAi v I /ICJ 0�..,5 I n p " F• 1 )%' n�Zr,$tatjon North 394 175 ' t 1 � •I - 1 INA b V • e mot•_ T � � � Y r `? � �{; , !�!; � `� ••� � � • 777 444 AD a - if 4 3T 1 , _ J t F i L I .��Ya __ �.� �� e" -fir s`"•,- f � I o n..•, n v May 26, 2011 Premier Bank 2866 White Bear Avenue Maplewood, MN 55109 Subject: Offer for mortgage release of Parkside at Andover Station 2nd Addition Dear Mr. Regan: The Andover Economic Development Authority (AEDA) is willing to extend an offer to Premier Bank in the amount of $1,200,000 for a release of any and all claims to the Parkside at Andover Station 2nd Addition. The City offer includes the following tentative terns and contingencies: 1. AEDA's offer is for area identified on the attached aerial as #I (outlined and crosshatched in red). 2. Premier Bank will be required to release AEDA and Bruggeman Properties LLC and it's guarantors of area #1 on the attached aerial. 3. AEDA will provide mortgage lot releases to Bruggeman Properties LLC & Premier Bank for the area identified on the attached aerial as #2 (orange highlighted). 4. AEDA will provide mortgage lot releases to Bruggeman Properties LLC & Premier Bank for the area identified on the attached aerial as #3.0 and #3.1 (blue highlighted). 5. AEDA offer is contingent on Bruggeman Properties LLC & Premier Bank being able to provide a no cost deed (lien free) to AEDA for the Parkside Development area identified on the attached aerial as #1. 6. AEDA offer is contingent on Bruggeman Properties LLC providing a release to Premier Bank and AEDA to utilize the 8 -plex and 4 -plex building plans in the Parkside at Andover Station Developments. 7. It is understood Premier Bank will be able to market the area identified on the attached aerial as #2 (orange highlighted) free of any AEDA mortgage releases. 8. In the event all terms are met, the City of Andover City Administrator will release Premier Bank Letters of Credit (LOCs) #864 & #880 related to the Parkside at Andover Station Developments. a Upon your acceptance of the tentative terms I will forward to the AEDA for board approval and I will have a formal agreement prepared and authorize AEDA legal counsel to facilitate the transaction. Please contact me at 763 -767• -5110 if you have any questions. 0 Executive Director :r City Administrator Attachment cceptance of Off Premier Bank Date Bruggeman Properties LLC z � t •a - `1 to I r� ' � ry h L 1� • �v t ` • �- 3 _ � � "`'` "�aiii � v� pit j�__ .�• •J t r o 06/23/2011 17:57 6514268815 ELITE PAGE 02/02 C I T Y OF VOW teas CROSSTO%V" nOU EVARD H.W. • ANDOVER, MINNESOTA 55304 a 9 631 765-rhlug rAX (763) 769 -6923 - WWW.CLANOOVER I0tt.11S Mayj26,2011 FnAtaak 2866 White Bear Avenue Maplewood, MN 55104 Subject: Offer for mortgage release ofParkside at Andover 5tation 2nd Addition Dear Mr. Regan: The Azdww I cu m oic llmlopmuent Amthmri8y (AEDA) is VARing to mWW Ala mff im Ira ft m ier Bank in the amount of S1,21Ri(OW for a aelemse of any and all claims to the Patkside rit Andover Staaiuu 2"c Addition. The City oRr incluft Ift followleg ftlath 1*(= wW caasiing=6= 1- AQAlsioffw is for area idend fled on slam attached nodal as dA (audimed and cmssbowhed in lid). 2. Pa=Vicar Bank e411 be required to aetcaw AMA and BmEgsmatau Alarmpertnn x-1 c and aes Smainnkm ofateaf] a andicaBtaclkedaaedat. 3. AEDA will pro0do owqw lotielelates to Atimtggrmw h%etties UZ & P'rranrcr Bask for ft aca ideatTxd an the uttacW uWal as 92 (oraatgc tmigrila�reeclj. cl_ Al2DA v611 pmswido mtoripp lot w1cases to Urnamam Pmperft LW & Ftemier Bank fur dw anaft rdeartntied an the attached zerld as 43.4 and 0.1 (blm holiglalvo. S. AE-DA uWur is cwd&Wmt an Bruggeman ftopw6es LLC & iPrua (erOank iaeapg, able p>yidos no cost: decal (lira feet) to AVDA, for tlnm Pmhide Dcmtupwnt am ideietWmd an ilea" nmmhed aeoaad as4A. 6. AEDA offer is e+ tInggatt on Dm&wma (Properties LLIC pmvift a relem qa Viff Bonk Mid AWA lea utllic Iho t1-plaac and 4TIml Wilding p1 ms in she iPa"de at Andmver Statuses l lolinneub- Z R is nudmftod fternier Milk will be HMO to market tlt:w WM idm9wWd on sloe ozamd aerial as (ongm higbligla W) frx ofamy AMA, mgpp tri;leases. 9, An floe even all mm ace tae:, ft City of Andover City.AdmWsw" wal rcleaa+e A'mmier Moo Propels of0a dit (1i,DCS) ffM & ff= related tot6e 1'srksido at Andover Siuffnnl7el�l agga , 4. IToIS older reardr go, fPlo offer dat®61 n 19 m to isaRN umtil4!M paq,,on Innr7 2011 Bred ut that time the offer win naa Ar-a. UPM y u nr anarintattcc of 60 lemtativ a I "s A will iiatv+ard 9) the ARDA for lroaad approval and A ,will Ihm a lbanal agvetmemt ymplWA and audionIo AURA icod cpunsel 10 facr3Gtate #lee 9raa�cGggme. Fle= comind meat 763- 767- 51AQ if- ywh uW queaiDm. A,taeofOliax: 1. V ve Ifhc dtmimiWatcsi' AtINWEN ➢Vin4 James Dickinson From: Becky Nelson [bg_nel @msn.com] Sent: Thursday, June 23, 2011 5:07 PM To: James Dickinson Subject: Premier and Bruggeman Jim: Per our discussions I faxed the signed letter summarizing the transaction. We have a tentative agreement with Premier Bank and are working toward documentation. Closing and execution is subject to review and approval of the documents in a form acceptable to all parties and execution of a final agreement with Premier. Thanks Jim, Becky Becky Nelson Bruggeman Companies Bus: 651- 491 -0853 email: bg nel@msn.com