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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />February 13, 1996 <br /> <br />Page 5 <br /> <br />Council Business. continued <br /> <br />The property is part of the Brighton Corporate Park redevelopment area, and it.. <br />acquisition is consistent with City goals. The agreement terms include: purchase price <br />of $1 ,232,000; closing on or before April 15; $40,000 at agreement execution; <br />$1,152,00 at closing; $40,000 at closing after soil is removed; and Dolle's responsibility <br />for removal of contaminated soil under the building. <br /> <br />Gunderman asked if any developers have expressed interest. Locke said there are four <br />developers interested and the Economic Development Commission will develop criteria <br />to determine the best usage. Gunderman asked if tax increment financing will be <br />available. Jim Casserly, City consultant, said tax increment bonding would be used. <br /> <br />Motion by Williams, seconded by Gunderman, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION AUTHORIZING EXECUTION OF A REVISED <br />LAND PURCHASE AGREEMENT (DOLLE PROPERTY). <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Hanson presented the request to advertise t<)r bids for the demolition of the D & T <br />Trucking site. Being that the purchase agreement has been previously approved, staff is <br />requesting authorization to advertise for bids. <br /> <br />Motion by Gunderman, seconded by Samuelson, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION AUTHORIZING THE BIDDING FOR <br />DEMOLITION OF THE FORMER D & T TRUCKING SITE. <br /> <br />4 Ayes - 0 Nayes, Motion Carried. <br /> <br />Locke presented the redevelopment agreement with Industrial Equities Group (lEG) for <br />TIF #21 and 22. lEG proposes a three phased development at the Lakeview Business <br />Park. The $5,420,000 project includes the construction of three buildings over the next <br />three years. The initial phase would be a 46,746 sq. ft. oft Ice/showroom constructed <br />between Pletscher's and McDonalds on Old Hwy 8. Completion will be no later than <br />one year from the sale of the property. Phases two and three will be completed no later <br />than three years from the sale of the property, and each will have a minimum value of <br />$2,400,000 and $1,320,000, respectively. These buildings will be compatible and <br />complimentary to the existing building at 701 Lakeview Point. <br /> <br />Benke asked if all adjacent property owners have been contacted. Locke has been able <br />to get a hold of all property owners except for the Day property which is now for sale. <br /> <br />John Allen, lEG, said the phases will be part of a business campus which would have a <br />retail tlair. Benke asked if there will be any plans for a coffee shop. Allen does not feel <br />that a coffee shop would be compatible with the proposed uses. <br /> <br />Motion by Williams, seconded by Gunderman, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION AUTHORIZING EXECUTION AND DELIVERY <br />OF A CONTRACT FOR PRIVATE REDEVELOPMENT (LAKEVIEW SOUTH), <br />BY AND BETWEEN THE CITY OF NEW BRIGHTON AND INDUSTRIAL <br />EQUITIES GROUP, LLC. <br /> <br />4 Ayes - 0 Nayes, Motion Carried <br /> <br />Council Business <br /> <br />Dolle Property <br />Report 96-042 <br />Resolution 96-010 <br /> <br />D & T Demolition Site <br />Repon 96-043 <br />Resolution 96-0] 1 <br /> <br />lEG Proposal <br />Report 96-044 <br />Resol ution 96-0] 2 <br />