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I I I Council Meeting Minutes March 8, 1994 Page 5 Council Business. continued Benke asked if a provision could be made which would give preference to New Brighton residents. Mr. Berstad said those provisions would be applied. Gunderman noted the facility's location near the freeway, and asked if the remaining wall segments could be installed to provide a sound barrier. Benke noted that those wall panels may have been removed from storage by MN-Dot and used on another project. Gunderman would like to see the wall finished and this issue revisited. Williams feels the facility is a wonderful project and supports it. Samuelson supports the project and noted that the waiting list could be long for such an excellent facility. Motion by Williams, seconded by Gunderman, to AUTHORIZED AND DIRECT STAFF TO PREPARE A DEVELOPMENT AGREEMENT BY AND BETWEEN TIlE CITY AND TIlE NATIONAL HANDICAP HOUSING INSTITUTE, INC. 5 Ayes - 0 Nayes, Motion Carried. Motion by Williams, seconded by Gunderman, to WAIVE TIlE READING AND ADOPT TIlE RESOLUTION TO AUTHORIZE SfAFF TO SCHEDULE A PUBLIC HEARING ON APRIL 12, 19994; AND PREPARE TIlE NECESSARY DOCUMENTS FOR CREATION OF TAX INCREMENT DISTRICT #23 FOR THE PROPOSED HANDICAPPED HOUSING INSTITUTE PROJECT. 5 Ayes - 0 Nayes, Motion Carried. Community Development Kevin Locke presented for consideration the authorization to prepare a development agreement with Medical Devices. Medical Devices is a New Brighton business who wishes to build a 30,800 sq. ft facility on Phase 3 of the Rush Lake Business Park. The business would occupy approximately 23,000 sq. ft of the building initially, and the remainder will be leased to other tenants until Medical Devices needs additional space. The project will require removal of an existing building and s<.>il corrections. The City is being asked to provide assistance to Medical Devices to overcome these obstacles of development. Medical Devices greatly anticipates the project. Belair Builders will be the general contractor for the building. The terms of the development agreement are: Medical Devices commits to construct a 30,800 sq. ft. building with a tax value of $1,238,880; building completion by 12/31/94; City assistance up to $85,000 for building demolition and soil corrections; and the City will provide an additional $190,000 of assistance for the purchase of the structure on the site in the form of a tax increment revenue note. City Manager Matt Fulton noted that the Medical Devices project is consistent with development plans for that area; and acknowledged the efforts of Locke and others working on the project. Council Business NHHI Development Agreement and TIP 23 Report 94~2 Resolution 94-032 Medical Devices Development Agreement Report 94-063