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<br />Council <br />I May 22, <br /> <br /> <br />Council <br /> <br />Page 6 <br /> <br />Meeting Minutes <br />1990 <br /> <br />Business, continued <br /> <br />8. <br /> <br />PROVISION OF A PERFORMANCE BOND OR LETTER OF CREDIT IN THE <br />AMOUNT EQUAL TO 100% OF THE COST OF ALL SITE IMPROVEMENTS, <br />EXCLUDING THE BUILDING. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Motion by Benke, seconded by Larson, to WAIVE THE READING AND ADOPT <br />THE RESOLUTION CALLING FOR A PUBLIC HEARING AT 7:30 P.M., JUNE 26, <br />1990, FOR THE PURPOSE OF CONSIDERING THE ISSUANCE OF INDUSTRIAL <br />DEVELOPMENT BONDS FOR REMMELE ENGINEERING, INC. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />I <br /> <br />Locke explained that John Miller donated 3.47 acres in 1989 and <br />proposes to donate an additional 5.13 acres and sell the remaining <br />8.6 acres to the Ci ty. The proposed pri ce for the 8.6 acres is <br />$375,000 and would be funded from Tax Increment funds drawn from <br />\xisting Tax Increment districts. The low purchase price and terms <br />n\inimize the City's costs and gives control of the largest single <br />parcel in the NW quadrant of 1-694 and I-35W. <br />\ . <br />\ <br /> <br />TM si te is a former 1 andfi 11 . Braun Envi ronmenta 1 has done <br />extensive site testing and found no significant problems. The MPCA <br />reViewed the results and site cleanup is not required. <br />I <br />! <br />CHarles LeFevere, City Attorney, said the agreement terms require <br />M.iller to take the land back if contamination problems are <br />discovered, but added that Council should view this as an <br />unguaranteed transaction. <br /> <br />Locke confirmed that the fill area is about 20-25 feet and in some <br />areas the peat goes deeper. <br /> <br />Motion by Gunderman, seconded by Williams, to WAIVE THE READING AND <br />ADOPT THE RESOLUTION ACCEPTING THE DONATION OF 8 ACRES OF LAND FROM <br />JOHN MILLER AND AUTHORIZE EXECUTION OF THE DONATION AGREEMENT AND <br />PURCHASE AGREEMENT. <br /> <br />4 Ayes - 0 Nayes, Motion Carried <br /> <br />I <br /> <br />Council Business <br /> <br />Site Plan Approval for <br />Remmele Engineering <br />Report 90-114 <br /> <br />Miller property, <br />Donation/Purchase <br />Report No. 90-115 <br />Resolution No.90-042 <br />Resolution No.90-043 <br />