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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />June 24, 1997 <br /> <br />Page 4 <br /> <br />Council Business. continued <br /> <br />Motion by Gunderman, seconded by Williams, to APPROVE AND ACCEPT THE <br />OLD HIGHWAY 8 CORRIDOR STUDY VISION CONCEPTS. <br /> <br />5 Ayes - 0 Nayes, Motion Carried. <br /> <br />Benke suggested "New Brighton Boulevard" as the new roadway's name. <br /> <br />Locke presented the private redevelopment agreement with Donatelle Holdings. <br /> <br />Donatelle Plastics purchased the site in the Brighton Corporate Park III (MacGillis and <br />Gibbs site) from the City. Donatelle plans to initially build a 71,000 sq. ft. <br />office/production/warehouse with a minimum value of $35/sq. ft.; and would double the <br />size of this facility within five years. The City is obligated to complete acquisition of the <br />MacGillis and Gibbs property, complete site cleanup, and insure utility service is <br />unavailable. <br /> <br />Tom Houskow, consultant for Donatelle, explained that the building plan went through <br />many revisions in order to address site remediation, pipeline relocation, and the Hwy 8 <br />Visioning Plan. The expansion area would provide an additional 50-60,000 sq. ft. The <br />City was instrumental in the receipt of government revenue bond financing for this <br />project, and construction will begin this fall. <br /> <br />Williams said the design shows a very attractive building, and asked if 5th St. on-street <br />parking issues will be addressed. Locke believes the on-street parking will end when <br />construction begins. Donatelle does not want on-street parking in front of their facility. <br /> <br />Benke asked Locke if he is comfortable with the building's exterior. Locke believes the <br />final plan is attractive and provides continuity to current and future adjacent properties. <br /> <br />Motion by Gunderman, seconded by Samuelson, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION APPROVING TERMS AND PREPARATION OF A <br />DEVELOPMENT AGREEMENT FOR PRIVATE REDEVELOPMENT WITH <br />DONA TELLE HOLDINGS. <br /> <br />5 Ayes - 0 Nayes, Motion Carried. <br /> <br />Finance Director Margaret Egan presented the 1996 annual financial report and <br />carryover of certain amounts. The Finance Department prepares an annual report in <br />accordance with national accounting standards and is audited by an independent public <br />accountant. The majority of City services are provided for and the City completed the <br />year with a positive $51,000 from a total budget of $7 million. That $51,000 will be <br />placed in reserves and will be used in 1997 and thereafter to fund services. The City's <br />overall reserves have been kept intact and total $19 million. Interest and reserves will <br />be used to payoff the long term cost of performing street reconstruction projects. <br /> <br />Motion by Larson, seconded by Williams, to WAIVE THE READING AND ADOPT <br />THE RESOLUTION AUTHORIZING RECEIPT OF THE 1996 ANNUAL <br />FINANCIAL REPORT AND CARRYOVER OF CERTAIN AMOUNTS TO 1997. <br /> <br />5 Ayes - 0 Nayes, Motion Carried. <br /> <br />Council Business <br /> <br />Hwy 8 Vision Plan <br />Report 97-143 <br /> <br />Donatelle Holdings <br />Report 97-144 <br />Resolution 97-044 <br /> <br />1996 Financial Report <br />Report 97-145 <br />Resolution 97-041 <br />