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<br />I <br /> <br />I <br /> <br />I <br /> <br />COUNCIL PROCEEDINGS <br /> <br />CITY OF NEW BRIGHTON <br /> <br />Pursuant to notice thereof, a special meeting of the New Brighton City Council was held Monday, May 5, 1997, at 5:30 <br />p.m. in the municipal building, 803 Fifth Avenue NW. <br /> <br />Present: <br /> <br />Mayor Benke, Councilmembers Gunderman, Larson, and Samuelson. <br /> <br />Absent: <br /> <br />Councilmember Williams <br /> <br />Also Present: <br /> <br />Matthew Fulton, City Manager <br />Kevin Locke, Community Development Director <br /> <br />Council A~enda <br /> <br />Motion by Gunderman, seconded by Samuelson, to APPROVE THE COUNCIL <br />AGENDA. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Public Hearing <br /> <br />City Manager Matthew Fulton explained that DonateUe Tool wishes to expand its <br />operations in New Brighton. Staff and Donatelle have worked to facilitate the process <br />for issuance of revenue bonds. <br /> <br />Community Development Director Kevin Locke acknowledged that the special Council <br />meeting was required so that application for the State bond allocation would be completed <br />before the May 6 deadline. Council previously authorized the use of eminent domain to <br />acquire this property. <br /> <br />Donatelle Holdings owns the building at 5th Ave. and Co. Rd. E-2 where Donatelle <br />Plastics is located. In December 1996, Donatelle received preliminary approval for <br />issuance of tax-exempt industrial revenue bonds for a $3.5 million, 72,000 sq. ft. facility <br />to be built on a portion of the MacGillis and Gibbs property. <br /> <br />The project is part of the Brighton Corporate Park III redevelopment effort to facilitate <br />cleanup of the poleyards superfund site as well as redevelopment of 530 ~ 5th Ave. The <br />project is contingent upon delivery of the site and environmental cleanup. Guaranteeing <br />utilization of the site for development in September is unattainable. Because of this, <br />Donatelle is allowed to use the bonds outside New Brighton ifthey cannot proceed with <br />construction on the MacGillis & Gibbs site. <br /> <br />The amount of tax-exempt bonds issued for industrial development financing is limited, <br />and the City received an allocation to issue bonds on Donatelle's behalf. The City is not <br />responsible for bond repayment or issuance cost. Donatelle Holdings would be <br />responsible for the bonds. <br /> <br />Council A~enda <br /> <br />Public Hearing <br /> <br />Issuance of revenue <br />bonds for Donatelle <br />Holdings <br />Report 97-097 <br />Resolution 97-030 <br />