CCP 08-14-2007 - Laserfiche WebLink

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Page 1 - July 31, 2007 New Brighton Council Minutes Of COUNCIL PROCEEDINGS NEW CITY OF NEW BRIGHTON lhC Cily trial woks lOr' y~ki Pursuant to notice thereof, a regular meeting of the New Brighton City Council was held Tuesday, July 31" at 7:30 p.m. in the New Brighton Council Chambers. Present: Mayor Larson, Council Members Hoffman, Burg, Doffing and Bauman Absent: Also Present: Dean Lotter-City Manager, Grant Fernelius-Director of Community Development, David Black-Assistant Director of Community Development, Katie Bruno-Office Assistant. Council Agenda Council Agenda Approval of July 31" Council Agenda. ou cil g07 da for y 31, 20 Motion by Council Member Hoffman, seconded by Council Member Bauman to approve the agenda as presented. *yes - 0 Nays, Motion Carried. Council Business Council Business 1. Consideration of a term sheet with Ryan Companies for Transoma 1. Consideration of a term s~=Medical Inc. office project Report No. 07-200. t with mM CompariieE forTrarisoma Medical, Inc. office project. Report No. 07-200 Director of Community Development-Grant Fernelius reported that the developer is interested in constructing a 120;000 square foot office building, with the option for second building approximately 70;000-120,000 square feet. The City and Ryan companies will agree on the scope of environmental clean up (estimated cost $300,000-maximum.) Ryan Companies would also contribute $48,000 toward a storm water pond (estimated cost $60,000.) The option provisions were outlined, detailing the costs associated with extending the option. The next step would be a presentation of a contract for private redevelopment; likely sometime in August 2007. Councilmember Bauman was not satisfied with the delay in payment of option money until 2010. Mr. Fernelius replied that the staff felt this was acceptable, because any other development likely would not be complete prior to 2010. Councilmember Doffing commented that the 2010 option seems rational. Councilmember Burg requested some clarification on the negotiated terms. Mr. Fernelius explained the AUAR was established in 2001; Ryan was responsible for the preparation of the AUAR. The City was to reimburse Ryan up to $200,000 towards the total cost of 4 00,000, that obligation to pay remains. In the term sheet presented, Ryan agrees to allow City to defer that payment. The 1.5 million for the land was described as likely not to occur. If the remediation costs exceeded the estimated $300,000, the City could help cover some of those costs by writing the value of the land down. Councilmember Hoffman commented that the timing of this development is a benefit to the City, by developing the area sooner that anticipated, and offered her support for the project.