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<br />Council Meeting Minutes <br />September 28, 1993 <br /> <br />Page 1 0 <br /> <br />Council Business. continued <br /> <br />Acquisition of the Brost property is called for under the terms of our <br />agreement with Industrial Equities Group. The property is within TIF <br />District 21 and part of the City's redevelopment efforts. <br /> <br />The City Attorney attempted to negotiate terms with the Brost estate, but <br />was unable to come to a comprise. The City Attorney and staff <br />recommend to appeal the award. The City has until October 10 to decide <br />its course of action. <br /> <br />Gunderman questioned whether Ramsey County would future assess the <br />property at that $562,000 valuation. Locke is unsure and would further <br />investigate, however, he noted the award amount is much higher than what <br />is currently on the tax records. <br /> <br />Benke feels staff has worked long to negotiate these terms and does not <br />want to walk away from the project, but feels it is correct to appeal. <br /> <br />Williams agrees that Council should appeal because the award is much <br />higher than other appraisals performed on that property. The City is <br />obligated to pay a fair price for the property. <br /> <br />Rebelein feels that this amount may be too high and could make <br />redevelopment efforts unsuccessful. <br /> <br />Motion by Rebelein, seconded by Williams, to APPEAL THE AWARD FOR <br />THE BROST PROPERTY CONDEMNATION. <br /> <br />5 Ayes - 0 Nayes, Motion Carried. <br /> <br />Locke presented the amendment to the New Brighton Lumber Development <br />Agreement. <br /> <br />The applicant proposes to amend the definition of the minimum <br />improvements which are required to have a minimum value of $430,000. <br />The minimal improvements consist of: remodeling existing structure; <br />construction of 8,000 sq. ft. office; construction of 7,000 sq. ft. <br />warehouse; construction of four garages; and site improvements which <br />include parking, fencing, landscaping and shed. Upon completion of these <br />improvements, the County Assessor's minimum market valuation shall be <br />$430,000 more than the 1993 valuation. <br /> <br />These changes give New Brighton Lumber flexibility to construct their new <br />facility on the First Street SW site, and make it possible to build the <br />warehouse first and still qualify for TIF assistance. <br /> <br />Motion by Gunderman, seconded by Rebelein, to AUTHORIZE THE CITY <br />MANAGER AND MAYOR TO AMEND THE DEFINITION OF MINIMUM <br />IMPROVEMENTS IN SECTION 1.1 OF THE DEVELOPMENT AGREEMENT <br />WITH CHARLES E. STARK. <br /> <br />5 Ayes - 0 Ayes, Motion Carried. <br /> <br />Council Business <br /> <br />I <br /> <br />Brost Property <br />Condemnation <br />Report 93-276 <br /> <br />I <br /> <br />New Brighton <br />Lumber <br />Report 93-277 <br /> <br />I <br />