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<br />Council Minutes <br />March 26, 1985 <br /> <br />I <br /> <br />Winkels stated that both Silver Bay's and City of Becker's <br />City Councils have adopted the resolution and that New <br />Brighton is in no way jeopardizing this City's position in <br />terms of cost; this City is not at risk with any money by <br />taking allocations; the allocations can be used for any <br />project this City Council desires. <br /> <br />Winkels indicated the deposit is applicable only after <br />September 1,1985, if we want to reserve that amount for <br />the City. We would be occuring a legal cost to draft the <br />documents for Becker and for Silver Bay/Washington County, <br />assuming there is no change in legislation; we will have to <br />pay an administration fee ($20,000.00) to Washington County <br />for Silver Bay, that fee will be built back in as the funds <br />are used. <br /> <br />I <br /> <br />Motion by Blomquist. seconded by Benke. to WAIVE THE READING <br />AND ADOPT A RESOLUTION ACCEPTING ASSIGNMENT OF $5,000,000 <br />INDUSTRIAL DEVELOPMENT BOND ALLOCATION FROM CITY OF BECKER; <br />WAIVE THE READING AND ADOPT A RESOLUTION APPROVING AN <br />INDUSTRIAL DEVELOPMENT BOND ALLOCATION AGREEMENT WITH THE <br />CITY OF SILVER BAY; AND TO AUTHORIZE THE MAYOR AND THE <br />MANAGER TO EXECUTE INDUSTRIAL DEVELOPMENT BOND ALLOCATION <br />AGREEMENTS WITH THE CITY OF SILVER BAY AND THE CITY OF BECKER. <br /> <br />Schmidt reiterated that we are doing this to facilitate the <br />downtown hotel development and, should we not receive a <br />signed Development Agreement, the City of New Brighton could <br />use this money for other downtown developments. <br /> <br />Schmidt then asked what reasonable time period could be <br />created for those that have expressed an interest in devel- <br />oping the hotel to make sure they proceed in a timely <br />manner and. if it is not going to happen. Schmidt then <br />inquired about the opportunities we may create for other <br />kinds of development to occur so the City does not lose the <br />I DB funds. <br /> <br />Harcus indicated a time limit would be worth the City's con- <br />sideration; feels the hotel developer should be given a <br />time period (30 days, 60 days) and if they cannot do it, we <br />should let other interested developers know of the avail- <br />ability; does not want to see the funds to unused. <br /> <br />I <br /> <br />Benke asked if the developer is aware of the time-critical <br />nature of this project, given legislative deliberation. <br /> <br />Winkels responded the developer was aware; Sinda indicated <br />the developer is waiting to firm up their agreement with <br />the franchisee and. if that one does not perform. the de- <br />yeloper has another franchisee lined up. The developer <br />has not given us a date. but they know the City and the <br />City Counci'l i's anxious to proceed. <br /> <br />Page Eight <br /> <br />lOB Allocation - <br />Acceptance from <br />City of Becker <br />and Washi ngton <br />County/Silver Bay <br />Report 85-84 <br />Resolution 85-31 <br />Resolution 85-32 <br />