01-17-06 Regular
.
CITY OF RICHFIELD, MINNESOTA
TUESDAY, JANUARY 17, 2006
REGULAR HOUSING AND REDEVELOPMENT AUTHORITY MEETING
RICHFIELD CITY HALL
COUNCIL CHAMBERS
6700 PORTLAND AVENUE
7 P.M.
AGENDA
Call to order
1. Oath of Office to HRA Commissioner David Gepner
2. Oath of Office to HRA Commissioner Donna Drummond
3. Consideration of election of HRA officers for 2006
.
Staff Report No. 1
Notes:
4. Approval of minutes of Regular HRA Meeting of December 19, 2005
Notes:
5. HRA approval of agenda
6. Consent Calendar contains several separate items which are acted upon by the
HRA in one motion. Once the Consent Calendar has been approved, the
individual items and recommended actions have also been approved. No further
HRA action is necessary. However, any HRA Commissioner may request that an
item be removed from the Consent Calendar and placed on the regular agenda for
HRA discussion and action. All items listed on the Consent Calendar are
recommended for approval.
A. Consideration of approval of designating Community Development Director as Acting
Executive Director of HRA in event Executive Director is absent from City S.R. No.2
B. Consideration of approval of resolutions designating official depositories for HRA, including
collateral, for 2006 S.R. NO.3
C. Consideration of approval of resolution designating Richfield Sun-Current as official
newspaper and Star Tribune as second official newspaper of HRA for 2006 S.R. NO.4
D. Consideration of approval of contract for demolition of 6812 Emerson Lane to
Frattalone Companies S.R. NO.5
Notes:
7. Consideration of:
. Increasing Marshall & IIIsley mortgage by $500,000 to provide substitute collateral
for $500,000 Letter of Credit in favor of HRA with stipulations and interim financing
agreement for repayment of the 2003A bonds; and
. Resolution regarding interfund loan in amount up to $718,000 for six months with
interest at 6% per annum; subject to City Council approval in accordance with MN
Statute 469.178 Subd. 7
Staff Report NO.6
Notes:
8. Consideration of resolution regarding amendment to Contract for Private Development
with Ryan Companies US, Inc. and extending Cedar Point Concept Plan submission
date
Staff Report No. 7
Notes:
9. Executive Director report
10. Claims and payroll
Adjournment
Auxmary aids for individuals with disabilities are available upon request. Requests
must be made at least 96 hours in advance to the City Clerk at 612-861-9738.
AGENDA ITEM # 3
REpORT # 1
.......
STAFF REpORT
RICHFIELD
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
JANUARY 17, 2006
REpORT PREPARED By:
CHERYL KRUMHOLZ, EXEC. COOR.
NAME, TITLE
REpORT PRESENTER:
STEVEN L. DEVICH, EXECUTIVE DIRECTOR
REVIEWED By EXECUTIVE DIRECTOR:
~
ITEM FOR HRA CONSIDERATION:
Consideration of the election of officers for the Housing and Redevelopment Authority (HRA)
for 2006.
1. RECOMMENDED ACTION:
By Motion: Elect officers for the Richfield Housing and
Redevelopment Authority for 2006.
I II. BACKGROUND I
The bylaws of the Richfield Housing and Redevelopment provide that the HRA hold
an annual meeting in January. The bylaws further provide that the Chair, Vice Chair
and Secretary of the HRA be elected at this meeting.
Officers for 2005 were:
Thomas Harms, Chair .
Joan Heimberger, Vice Chair
Suzanne M. Sandahl, Secretary
01170fficers
I III. BASIS OF RECOMMENDATION I
I A. POLICY I
. The bylaws of the Richfield HRA provide that the HRA hold an annual
meeting in January.
. The bylaws further provide that the Chair, Vice Chair and Secretary of
the HRA be elected at this meeting.
I B. eroTICAL ISSUES - I
. The bylaws of the Richfield Housing and Redevelopment require that
an election of officers for the HRA be held at the annual meeting in
JanuarY.
I IV. ALTERNATIVE RECOMMENDATION(S) I
. Do not hold the election. However, this would be in contradiction of the HRA
bylaws.
I V. PRlNCIP AL PARTIES EXPECTED AT MEETING
. None.
.
AGENDA ITEM # 6A
REpORT # 2
.......
STAFF REpORT
RICHFIELD
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
JANUARY 17,2006
REpORT PREPARED By:
CHERYL KRUMHOLZ, EXEC. Co OR.
NAME, TITLE
REpORT PRESENTER:
STEVEN L. DEVICH, EXECUTIVE DIRECTOR
REVIEWED BY EXECUTIVE DIRECTOR:
ITEM FOR HRA CONSIDERATION:
Consideration of designating the Community Development Director as the Acting Executive
Director of the Housing and Redevelopment Authority (HRA) for 2006 in the event the
Executive Director is absent from the City.
I. RECOMMENDED ACTION:
By Motion: Designate the Community Development Director as
Acting Executive Director of the HRA in the event the Executive
Director is absent from the City.
I II. BACKGROUND I
Since the City Manager also serves as the HRA Executive Director, it is
recommended that the Community Development Director be designated by the
HRA as the Acting Executive Director to serve in that capacity during the absence
of the Executive Director.
The Community Development Director was designated Acting Executive Director for
2005.
I III. BASIS OF RECOMMENDATION
I A. POLICY
0117ActingDirector
. Designation of an Acting Executive Director is a normal business
action of the HRA similar to the designation of depositories and the
official newspaper.
. The Community Development Director has been designated as the
Acting Executive Director in the past.
I B. CRITICAL ISSUES I
. It is necessary to designate a person to serve as the Acting Executive
Director to ensure continuation of HRA operations during an absence
of the Executive Director.
I IV. ALTERNATIVE RECOMMENDATION(S) I
. Defer this designation to another HRA meeting.
Iv. PRINCIPAL PARTIES EXPECTED AT MEETING
. None.
AGENDA ITEM # 6B
REpORT # 3
......
STAFF REpORT
RIOHFIELD
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
JANUARY 17,2006
REpORT PREPARED By:
CHRIS REGIS, FINANCE MANAGER
NAME, TITLE
REpORT PRESENTER:
STEVEN L. DEVICH, EXECUTIVE DIRECTOR
REVIEWED BY EXECUTIVE
DIRECTOR
ITEM FOR HRA CONSIDERATION:
Consideration of resolutions designating official depositories for the Housing and
Redevelo ment Authorit HRA for 2006, includin the a roval of collateral.
I. RECOMMENDED ACTION:
By Motion: Adopt the attached resolutions designating official
depositories, with the understanding that the HRA could not invest in
any of the depositories beyond the level of insurance coverage of the
pledged collateral.
I II. BACKGROUND I
I III. BASIS OF RECOMMENDATION I
I A. POLICY I
. In accordance with Minnesota Statutes Section 118A.01 - 118A.06, the
HRA of Richfield must designate financial institutions annually. The
institutions must pledge the collateral over and above the amount of
federal insurance, as public depositories.
. U.S. Bank acts as the banking institution in the HRA's banking
arrangement with the 4M Fund. Monies received, checks written, by the
HRA, flow through U.S. Bank, however, at the end of each business day,
any proceeds remaining in HRA U.S. Bank accounts are swept to the 4M
Fund to be invested. Therefore, at the end of the business day the HRA
0117depositories
accounts are- zero, which means the collateral requirements of Minnesota
Statutes Section 118A.03 are not required. Accordingly, U.S. Bank has
met all other statutory requirements and should be considered as a
depository for the HRA's vendor accounts and all savings deposits.
. The HRA must also designate annually, certain savings and loan
associations and banks as official depositories for deposit and investment
of certain HRA funds. With approval of these official depositories, the
HRA will be able to investfunds in thesH institutions, not exceeding the
federal insurance of $100,000.
. Finally, a designation must be made for certain financial institutions as
depositories for the investment of HRA funds for 2006. These institutions,
such as investment brokerage firms, offer government securities in the
manner required by law. These financial institutions include M&I Marshall
& IIIsley Bank, U.S. Bank, Dain Rauscher, Wells Fargo Brokerage
Services, Morgan Stanley Dean Witter, Morgan Keegan, N.A. Investment
Services, Inc. Piper Jaffray & Co. and the 4M Fund.
. The resolutions will be completed with the HRA Chair and HRA Secretary
names following the appointment of officers at the January 17,2006 HRA
meeting..
lB. CRlTICALISSUES
. N/A
I C. FINANCIAL .
. N/A
I D. LEGAL I
. The HRA is required by Minnesota Statute 118A.01 - 118A.06, to
designate as a depository of funds, insured banks or thrift institutions.
Any collateral so deposited is accompanied by an assignment pledged
to the HRA in the amount specified in the attached resolutions.
I IV. . ALTERNATIVE RECOMMENDATION(S) I
. The HRA could solicit other financial institutions for official depositories, but
. past relationships with the depositories recommended have proven
satisfactory for the City. .
I V. ATTACHMENTS I
. Resolution designating US Bank a depository of funds of the HRA of Richfield
for the year 2006.
. Resolution designating the M&I Marshall & Illsley Bank a depository of funds of
the HRA of Richfield for the year 2006.
. Resolution designating certain savings and loan associations and banks as
depositories for the investment of HRA funds in 2006.
. Resolution designating certain financial institutions as depositories for the
investment of HRA of Richfield funds in 2006.
I VI. PRINCIPAL PARTIES EXPECTED AT MEETING
. None
RESOLUTION NO.
RESOLUTION DESIGNATING U.S. BANK
A DEPOSITORY OF FUNDS OF THE HRA OF RICHFIELD
FOR THE YEAR 2006
BE IT RESOLVED, by the Housing and Redevelopment Authority of Richfield as
follows:
That, in accordance with Minnesota Statutes, Section 118A.01- 118A.06, U.S. Bank
be, and hereby is designated a depository of the funds of the Housing and Redevelopment
. Authority of Richfield, subject to modification and revocation at any time by said Housing .
and Redevelopment Authority, and subject to the following terms and conditions: .
The said depository shall not be required to give bonds or other securities for such
deposits provided that the total sum thereof shall not at any time exceed in any depository
the sums for which its deposits are insured under the Acts of Congress of the United
. States relating to insurance of bank deposits; but that in case such deposits in any such
depository shall at any time exceed such insured sum, said depository shall immediately'
furnish bonds or other security for such excess according to law, approved by the Housing
and Redevelopment Authority of Richfield.
That said depository shall pay on demand all deposits therein; and shall pay all time
deposits, at or after the end of the period for which the same shall be deposited, on
demand.
BE IT FURTHER RESOLVED, that there shall be maintained a general account in
which shall be deposited all monies. The following officers or their facsimile signatures
shall sign checks on this account;
,CHAIR
STEVEN L. DEVICH, EXECUTIVE DIRECTOR
BE IT FURTHER RESOLVED, that all funds remaining in the account at the end of
each business day will be transferred from U.S. Bank to the 4M Fund where funds
deposited are invested and insured.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this
17th day of January, 2006.
Chair
ATTEST:
Secretary
RESOLUTION NO.
RESOLUTION DESIGNATING THE M&I MARSHALL & ILLSLEY BANK
A DEPOSITORY OF FUNDS OF THE HRA OF RICHFIELD
FOR THE YEAR 2006
BE IT RESOLVED, by the Housing and Redevelopment Authority of Richfield as
follows:
That, in accordance with Minnesota Statutes, Section 118A.01- 118A.06, M&I
Marshall & IlIsley Bank be, and hereby is designated a depository of the funds of the
Housing and Redevelopment of Richfield, subject to modification and revocation at any
time by said Housing and Redevelopment Authority, and subject to the following terms and
conditions: -
The said depository shall not be required to give bonds or other securities for such
deposits provided that the total sum thereof shall not at any time exceed in any depository
the sums for which its deposits are insured under the Acts of Congress of the United
States relating to insurance of bank deposits; but that in case such deposits in any such
depository shall at any time exceed such insured sum, said depository shall immediately
furnish bonds or other security for such excess according to law, approved by the Housing
and Redevelopment Authority of Richfield.
That said depository shall pay on demand all deposits therein; and shall pay all time
deposits, at or after the end of the period for which the same shall be deposited, on
demand.
BE IT FURTHER RESOLVED, that there shall be maintained a general account in
which shall be deposited all monies. The following officers or their facsimile signatures
shall sign checks on this account;
,CHAIR
STEVEN L. DEVICH, EXECUTIVE DIRECTOR
BE IT FURTHER RESOLVED, that all funds remaining in the account at the end of
each business day will not exceed the federal insurance of $100,000.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this
17th day of January, 2006.
Chair
ATTEST:
Secretary
RESOLUTION NO.
RESOLUTION DESIGNATING CERTAIN SAVING AND LOAN ASSOCIATIONS
AND BANKS AS DEPOSITORIES FOR THE INVESTMENT OF HOUSING AND
REDEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2006
BE IT RESOLVED, by the Housing and Redevelopment Authority of Richfield,
Minnesota:
WHEREAS, pursuant to Minnesota Statutes, Sections 118A.01 - 118A.06,
municipal funds may be deposited in any Savings and Loan Association or Bank which has
its deposits insured by the Federal Savings and Loan Insurance Corporation (FSLlC) or
the Federal Deposit Insurance Corporation (FDIC); and
WHEREAS, the amount of said deposits may not exceed the FSLlC/FDIC
insurance covering such deposits which insurance amount is presently $100,000; and
WHEREAS, the deposit of Housing and Redevelopment Authority funds in Savings
and Loan Associations and Banks would provide greater flexibility in the Housing and
Redevelopment Authority's investment program and maximize interest income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority of Richfield, Minnesota, as follows:
1. It is hereby found and determined that it is in the best interest of the proper
management of Housing and Redevelopment Authority funds that certain
Savings and Loan Association and Banks be designated as additional
depositories for Housing and Redevelopment Authority funds for 2006.
2. It is further found and determined that the purpose of such depository
designation is to facilitate the proper and advantageous investments of Housing
and Redevelopment Authority funds and that such designation is not exclusive
nor does it preclude the deposit of any Housing and Redevelopment Authority
funds in other officially designated depositories of the Housing and
Redevelopment Authority.
3. The Treasurer and Finance Manc;lger are hereby authorized to deposit Housing
and Redevelopment Authority funds in various depositories up to the amount of
$100,000, or such other amount as may be subsequently permitted by law, such
deposits to be in the form of demand accounts for Public Unit Savings
Certificates purchased by the City, payable to the Housing and Redevelopment
Authority of Richfield on the signatures of the Housing and Redevelopment
Authority Treasurer or Finance Manager. Such deposits may be made and
withdrawn from time to time by the Treasurer or Finance Manager as his best
judgment and the interests of the Housing and Redevelopment Authority
dictates.
4. The investment of funds and the reporting thereof pursuant to this resolution
shall be conducted in accordance with established policies of the Housing and
Redevelopment Authority regarding the investment of Housing and
Redevelopment Authority funds.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this 17th
day of January, 2006.
Chair
ATTEST:
Secretary
RESOLUTION NO.
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONS AS DEPOSITORIES FOR THE INVESTMENT OF
HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2006
WHEREAS, the Housing and Redevelopment Authority of Richfield has money which
is available for investment;.. and
WHEREAS, different financial institutions offer different rates of return on investments;
and
WHEREAS, the Housing and Redevelopment Authority of Richfield shall purchase
U. S. Treasury Bills, U. S. Treasury Notes and other such government securities in the
manner required by law from the institution offering the highest rate to the Housing and
Redevelopment Authority of Richfield providing greater flexibility in the investment program
and maximize interest income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority of Richfield, Minnesota, in accordance with Minnesota Statutes, Sections
118A.01 - 118A.06, as follows: ,
1. It is hereby found and determined that it is in the best interest of the proper
management of Housing and Redevelopment Authority of Richfield funds that
certain financial institutions be designated as additional depositories for Housing
and Redevelopment Authority of Richfield funds for 2006.
2. The following financial institutions designated as depositories for the Housing and
Redevelopment Authority of Richfield funds:
Dain Rauscher, Inc.
Wells Fargo Brokerage Services
N.A. Investment Services, Inc.
Morgan Stanley Dean Witter
3. The Treasurer and Finance Manager are hereby authorized to deposit the
Housing and Redevelopment Authority of Richfield funds in any or all of the
depositories herein designated. Such deposits may be made and withdrawn
from time to time by the Treasurer or Finance Manager's judgment and as the
interest of the Housing and Redevelopment Authority of Richfield dictates.
Piper Jaffray & Co.
Morgan Keegan
4M Fund
4. The investment of funds and the reporting thereof pursuant to this resolution
shall be conducted in accordance with established policies regarding the
investment of these funds.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this 17th
day of January, 2006.
Chair
ATTEST:
Secretary
AGENDA ITEM # 6C
REpORT # 4
.....
STAFF REpORT
RIGRlflELIJ
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
JANUARY 17, 2006
REpORT PREPARED By:
NANCY GIBBS, CITY CLERK
NAME, TITLE
REpORT PRESENTER:
STEVEN L. DEVICH; EXECUTIVE DIRECTOR
REVIEWED BY EXECUTIVE DIRECTOR:
ITEM FOR BRA CONSIDERATION:
Consideration of resolution designating an official newspaper for 2006.
I. RECOMMENDED ACTION:
By Motion: Approve the resolution designating for 2006 the Richfield
Sun-Current as the official newspaper and the Minneapolis Star
Tribune as the second official newspaper for the City of Richfield.
I II. BACKGROUND [
The Richfield Sun-Current, published by Minnesota Sun Publications, has been the
City's official newspaper for many years.
Attached is a copy of a letter from Minnesota Sun Publications requesting that they
be designated the official newspaper for the City of Richfield for 2006. The 2006
advertising rate structure for legal notices is as follows:
1 Column width
$14.30 per inch
$7.15 per subsequent inch
There are 11 lines per inch. The 2005 rate was the same as the rate proposed for
2006.
For 2006, the Minneapolis Star Tribune should be considered as the second official
newspaper to be used only in rare situations where more timely publication dates
0117Newspaper
are required. The 2006 advertising rate structure for legal notices in the Sunday
and week day, metro and statewide, issues is $4.75 per line. The 2005 rate was
$4.75 per line.
I III. BASIS OF RECOMMENDATION I
I A. POLICY , I
. The Charter of the City of Richfield requires in Section 13.01 thereof
that the City Council annually designate an official newspaper for the
City.
. The Sun-Current has expressed an interest in continuing to serve as
the official newspaper of the City.
. The Sun-Current has served well as the official paper for many years.
. The Sun-Current is delivered to nearly all residences in the City.
I B. CRITICAL ISSUES I
. The designation must be made at the first meeting of the new year.
I C. FINANCIAL I
. The cost for the official publications is reasonable.
I D. LEGAL I
. A newspaper must be designated each year by the City for publication
of all official and legal City business.
I IV. ALTERNATIVE RECOMMENDATION(S) I
. Not make a designation and request the City Clerk's office to check into
using another publication.
I V. ATTACHMENTS
. Resolution
. Letter from Minnesota Sun Publications
. Fax from Star Tribune
I VI. PRINCIP At PARTIES EXPECTED AT MEETING
. None
HRA RESOLUTION NO.
RESOLUTION DESIGNATING AN OFFICIAL NEWSPAPER
FOR 2006
WHEREAS, the Charter of the City of Richfield requires in Section 13.01 thereof
that the City Council annually designate an official newspaper for the City.
NOW, THEREFORE, BE IT RESOLVED that the Richfield Sun-Current is
designated the official legal newspaper for the Richfield Housing and Redevelopment
Authority for 2006 for all publications required to be published therein.
BE IT FURTHER RESOLVED that the Minneapolis Star Tribune is designated as
the Richfield Housing and Redevelopment Authority's secondary official newspaper for
2006.
Adopted by the Housing and Redevelopment Authority in and for of the City of
Richfield, Minnesota this 17th day of January, 2006.
Chair
ATTEST:
Secretary
CI
=='====-
November 15, 2005
newspapers
City of Richfield
City Council
6700 Portland Avenue
Richfield, MN 55423-2599
Dear City Council Members:
The Richfield Sun-Current would like to be considered for designation as the legal newspaper for the
City of Richfield for the year 2006.
All published legal' notices are posted on our website (www.mnsun.com) at no additional charge.
This is an enhancement to the local news coverage already available on the Internet and will
broaden the readership of your legal notices.
One of the main benefits of publishing your legal notices with the Sun-Current is our home delivery.
Sun Newspapers has become the primary source of community news in the suburbs. your notices in
our paper have the best chance of being seen and read.
We would like to continue working with you, therefore, we will not be making a rate change for the
coming year.
The rate structure for legals effective January 1, 2006 will be:
1 column width: $14.30 per inch for first insertion
$7.15 per inch for subsequent insertions
Out columns are 14 picas wide
There are 11 lines .per inch
Two notarized affidavits on each of your publications will be provided with no additional charge.
The deadline for regular length notices is 2:00 p.m. the Thursday prior to publication. E-mailing the
I~gal notices is an efficient and accurate way of getting the notices to us. The e-mail address for the
legal department is legals@mnsun;com. We still accept notices on disk, faxed or throu9h tbe mail. If
you reqUire more information to make your decision, please contact me or Mary Ann Carlson, our
Legal Representative, at 952-392...6829.
Thank you for considering the Sun-Current as the official newspaper for the City of Richfield in 2006.
We appreciate the opportunity to serve the needs of your community.
Sin~. ...c....:.. ~
.~~ ,,-
Vice:Presid~Jj'~~fnd GroupPlJblisher'
~ " ". "W.",., ",.' .
:.;lL:.,..
')-.~
t). ,"
10917 VALLEY VIEW ROAD 0 EDEN:PRA.mm 0 Mn\1J.\TEsOTA 55344' 0 952-829~791 0 FAX: 952--941-3588
12/13/2005 09:45 FAX 612 673 4884
STAR TRIBUNE CLS. ADV.
~001
425 Portland Avenue
MirJneapolis, Minnesota 55486-0002
~tar1tlbune
r~ I ~ NEAl' 0 ~ IS' 5T P A U L _
DeCember 13, 2005
Debb~e Geyer
Deputy Assistant City Clerk
City of Richfield
6700 Portland Ave.
Minneapolis, MN 55423
Dear Debbie:
Star Tribune legal rates for publications in class 203 is currently $4.75 per line on a
weekday or a Sunday. Unlike our regular rates, these will NOT be changing January I,
2006.
Please feel free to call with any questions or Concerns.
Sincerely,
i#t:l77f' ~
Maggi McDermott
Account E)Cecutive
Phone: 612-673-4150
Fax: 612-673-4884
Email: mmcdennott@startribune.com
CI
--
==.. ::::::= ==-
November 15, 2005
newspapers
City of Richfield
City Council
6700 Portland Avenue
Richfield, MN 55423-2599
Dear City Council Members:
The Richfield Sun-Current would like to be considered for designation as the legal newspaper for the
City of Richfield for the year 2006.
All published legal notices are posted on our website (www.mnsun.com) at no additional charge.
This is an enhancement to the local news coverage already available on the Internet and will
broaden the readership of your legal notices.
One of the main benefits of publishing your legal notices with the Sun-Current is our home delivery.
Sun Newspapers has become the primary source of community news in the suburbs. Your notices in
our paper have the best chance of being seen and read.
We would like to continue working with you, therefore, we will not be making a rate change for the
coming year.
The rate structure for legals effective January 1, 2006 will be:
1 column width: $14.30 per inch for first insertion
$7.15 per inch for subsequent insertions
Our columns are 14 picas wide
There are 11 lines per inch
Two notarized affidavits on each of your publications will be provided with no additional charge.
The deadline for regular length notices is 2:00 p.m. the Thursday prior to publication. E-mailing the
legal notices is an efficient and accurate way of getting the notices to us. The e-mail address for the
legal department is legals@mnsun.com. We still accept notices on disk, faxed or through the mail. If
you require more information to make your decision, please contact me or Mary Ann Carlson, our
Legal Representative, at 952-392-6829.
Thank you for considering the Sun-Current as the official newspaper for the City of Richfield in 2006.
We appreciate the opportunity to serve the needs of your community.
Sln~.....r..~.~,... ... ...
~~
- ... .-
Jeffrey Goolm. an
Vice:Presrq_~~('~:tnd G roup Publisher
\)
10917 VALLEY VIEW ROAD 0 EDEN PRAl:RrE 0 Mn\1NESOTA 55344 0 952-829-0797 0 FAX: 952-941-3588
Certified Audit
CAC
of Circulations
Newspaper Audit Report
MINNESOTA SUN PUBLICATIONS *
Wednesday
EDEN PRAIRIE (HENNEPIN COUNTY) MINNESOTA
TOTAL AVERAGE CIRCULATION FOR THE TWELVE-MONTH PERIOD ENDED JUNE 30, 2005
TYPE OF PUBLICATION: Community Newspaper
FREQUENCY: Weekly
LOCATION: Eden Prairie, Minnesota
PUBLISHED BY: Minnesota Sun Publications
ESTABLISHED: 1912
Manager
CONTACT INFORMATION:
10917 Valley View Road
Eden Prairie, Minnesota 55344
Tel: (952)392-6835
Fax: (952) 941-3588
Jeff C~.Iman, Vice-President:, General
Herb Hesse, Cii-Culation Director
Circulation Data
Sun
Sailor
Total
1A. Total Average Circulation, Distribution
Paid
:,~',:.~~i~~~~
'3) Sirigle"cdpy'sales
" ..4) Employee Copies
, 5) ,Newspaper in Education
6) Bulk '
Paid Circulation
, , 12{'"
146
'NT
%
Sun
Current-C
, Total "
%
Sun
Current-D
Total %
Sun
Post
Total
Sun
Focus
0.2
0.2
67 0.1
16
100 0.2
81 0.1
187
59
0.2
0.1
26
0.1
0.4
83 0.1
181 0.3
146
0.3
26
0.1
B. other Paid
1) Home Delivery 1,663 27 425 0.5 2,301 3.4 1,558 3.1 12
2) Single Copy Sales
3) Newspaper in Educatipn
4) Event Sales
5) Bulk
Total Other Paid 1,663 2.7 425 0.5 2,301 3.4 1,558 3.1 12
Total Paid 1,930 3.1 508 0.6 2,482 3.7 1,704 3.4 38 0.1
C. Unpaid Distribution
1) Home Delivery 55,641 89.4 83,691 99.0 58,811 86.6 44,851 90.0 48,938 90.3
...;2) Mail
',',' 3) Residential Bulk 4,525 .7.2,. 6,091 9.0 3,070 6.2
.4) Non-Resiciential Bulk 165 0.3 318 536 0.7 215 0.4 5,24(
5) Sample$;: t" .....
Total Unpaid DistributiOn 84,009 96.3 48,136 96.6 54,182
D. Total Distribution 62,261 100.0 84,517 100.0 67,920 100.0 49,840 100.0 54,220 100.0
* See paragraph 2 for publication names,
2A. Breakdown of average circulation and distribution (item 1) by publication
SUN-SAILOR NEWSPAPERS
Single VaLl Unpaid Non.
Paid Copy Other Total Home Res. Res. Total Total
Mail Sales Paid Paid Delivery Bulk Bulk Unpaid Distr.
ExcelsiorlShorewood 10' 16 225 251 5,5,92 1AO 5,735 5,983
West Minnetonka 22 7 239 268 5,949 90 71 6,110 6,378
East Plymouth 12 19 507 538 5,452 447 5,899 ' 6,437
West Plymouth 12 23 40 75 10,610 658 11,268 11,343
Hopkins' ' 16' 17 93 126: ,3,924 748 24 4,696 ,4,822
St. Louis Park 20 11 372 403 11,154 1,268 12,422 12,825
Wayzata 23 36 156 215 4,497 210 30 4,737 4,952
East Minnetonka ----2 -1Z ---11 -.M 8.463 964 40 9.467 9.521
Total 121 146 1,663 1,930 55,641 4,525 165 60,331 62,261
SUN CURRENT NEWSPAPERS-C
Single VoU Unpaid Non.
Paid Copy Other Total Home Res. Res. Total Total
Mail Sales Paid Paid Delivery Bulk Bulk Unpaid Distr.
South St. Paul/lnver Grove Heights 18 63 81 14.361 100 14,461 14,542
West St. Paul/Mendota Heights 10 68 78 9,479 9,479 9,557
Lakeville 7 18 25 9,690 9,690 9,715
Eagan 8 1 53 62 16,565 16,565 16.627
Bumsvil/e/Savage 11 15 113 139 18,926 175 19,101 19,240
Apple Valley/Rosemount II - 110 123 14.670 - 43 14.713 14.836
- -
Total 67 16 425 508 83,691 318 84,009 84,517
SUN CURRENT NEWSPAPERS-D
Single VoU Unpaid Non. Tot.
Paid Copy other Total Home Res. Res. Total
Mail Sales Paid Paid Delivery Bulk Bulk Unpaid Distr.
Edina 40 8 458 506 14,907 1,163 92 16,162 16,668
Richfield 20 20 526 566 8,483 1,088 180 9,751 10,317
Bloomington 30 37 1,187 1,254 23,547 3,080 22,0 26,847 28,101
Eden Prairie -1Q 16 130 156 11.874 760 44 12.678 12.834
-
Total 100 81 2,301 2,482 58,811 6,091 536 65,438 67,920
SUN-POST NEWSPAPERS
Single VoU Unpaid Nf;)n.
Paid Copy other Total Home Res. Res. Total Total
Mail Sales' Paid Paid Delivery Bulk Bulk Unpaid Distr.
Brooklyn Center 9 26 276 311 6,874 255 7,129 7,440
Brooklyn Park 45 17 281 343 18,043 751 100 18,894 19,237
New Hope/Golden Valley 16 1 616 633 10,246 955 115 11,316 11,949
Crystal/Robbinsdale 17 15 385 417 9.688 1.109 - 10.797 11.214
Total 87 59 1,558 1,704 44,851 3,070 215 48,136 49,840
SUN-FOCUS NEWSPAPERS
Single Vol.! Unpaid Non.
Paid Copy Other Total Home Res. Res. Total Total
Mail Sales Paid Paid Delivery Bulk Bulk Unpaid Distr.
Blaine/Spring Lake Park 6 1 7 16,002 903 16,905 16,912
Columbia Heights/Fridley 10 7 17 18,096 1,140 19,236 19,253
Moundsview/New Brighton/St. Anthony 5 4 9 14,840 751 15,571 15,600
Ramsey County 2 - - 2 - 2.45Q 2.450 2.455
- - -'
Total 26 12 38 48,938 5,244 54,182 54,220
M"mh"r :it~I1Q
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AGENDA ITEM # 6n
REpORT # 5
.......
STAFF REpORT
RICHFIELD
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
JANUARY 17, 2006
REpORT PREPARED BY:'
KELLY BERG, HOUSING COORDINATOR
NAME, TITLE
REpORT PRESENTER:
BRUCE'NORDQUlST, HOUSING AND
REDEVELOPMENT MANAGER
NAME, TiTLE
DEPARTMENT DIRECTOR REVIEW:
REVIEWED BY EXECUTIVE DIRECTOR:
.
ITEM FORHRA CONSIDERATION:
Consideration of acceptance of a bid for demolition of 6812 Emerson Lane.
I. RECOMMENDED ACTION:
By Motion: Award contract for demolition of 6812 Emerson Lane to
Frattalone Companies.
I II. BACKGROUND I
In August, the Housing and Redevelopment Authority (HRA) purchased 6812
Emerson Lane. Plans for the property include demolition of the existing buildings
(house and barn) and improving sewer and water services to the property. The
property will be subdivided for redevelopment into three single-family lots as
previously approved by the HRA. At the direction of the HRA, staff is in the process
of identifying a developer to construct three higher-value single-family homes that
will be in keeping with the character of the neighborhood. The goal is to complete
construction ~o the development can be in the spring 2007 Parade of Homes.
The buildings are now ready for demolition. Demolition specifications were sent to
12 different demolition contractors. Two companies presented bids-Frattalone
Companies and Belair Excavating. Frattalone Companies was the lower of the two
bids at $24,000.00. In addition to the demolition cost, an estimated $3,500 is
011706 6812 Emerson Lane
reserved for environmental remediation such as disposal of asbestos and lead
laden materials.
I III. BASIS OF RECOMMENDATION I
I A. POLICY I
. A standard bidding process was used to secure bids. When costs are
anticipated to exceed $25,000, the HRA must review those proposed
expenditures.
I B. CRITICAL ISSUES I
. The site is ready for demolition. If the HRA concurs, demolition would
occur in the next 30 days, allowing for a spring construction start.
. Neighbors have been kept informed of the status of the property and
will be contacted before demolition work actually begins.
I C. FINANCIAL I
. Funds are available based on the approved HRA budget.
I D. LEGAL I
. Legal counsel has prepared the demolition contract.
I IV. ALTERNATIVE RECOMMENDATION(S) I
. Do not award the contract to Frattalone Companies.
. Seek additional bids or delay action on the bids received.
I V. ATTACHMENTS
. Aerial photo.
I VI. PRINCIPAL PARTIES EXPECTED AT MEETING
. N/A
6812 Emerson Lane
Area of detail
-
Source: Hennepin Co. Property Data
Created: 1/21/05, Richfield CD (MP)
AGENDA ITEM # 7
REpORT # 6
~
STAFF REpORT
RICHFIELlJ
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
JANUARY 17, 2006
REpORT PREPARED By:
CHRIS REGIS, FINANCE MANAGER
NAME, TITLE
REpORT PRESENTER:
CHRIS REGIS, FINANCE MANAGER
NAME, TITLE
DEPARTMENT DIRECTOR REVIEW:
REVIEWED BY EXECUTIVE DIRECTO
ITEM FOR HRA CONSIDERATION:
Consideration of a request from The Cornerstone Group for an increase in the Marshall &
IIsley mortgage that is part of the financing of the Kensington Park Development, by $500,000,
to provide for substitute collateral for the $500,000 Letter of Credit in favor of the Housing and
Redevelopment Authority and consideration of interim financing for the repayment of the
2003A bonds.
I. RECOMMENDED ACTION:
By Motion: Approve the increase of the Marshall & IIsley mortgage by
$500,000 to provide substitute collateral for the $500,000 Letter of
Credit in favor of the Housing and Redevelopment Authority, with
stipulations and the interim financing agreement for the repayment of
the 2003A bonds; and authorizing the execution and delivery of
appropriate instruments.
By Resolution: Approve an interfund loan in an amount up to
$718,000 for six months with interest at the rate of 6% per annum;
subject to approval by the City Council in accordance with MN Statute
469.178 Subd. 7.
I II. BACKGROUND
011706 Kensington Park
. As part of the development agreement for Kensington Park, The Cornerstone
Group (Cornerstone) provided the Housing and Redevelopment authority (HRA)
with a $500,000 Letter of Credit.
. Cornerstone has requested the HRA to increase the construction mortgage held
by Marshall & IIIsley (M&I) by $500,000 which would provide substitute collateral
, for the $500,000 Letter of Credit held by the HRA.
. In addition, the City, on behalf of the HRA, issued Taxable G.O. Temporary Tax
Increment bonds, Series 2003A to help fund Cornerstone's Kensington Park
development on an interim basis. As part of the issuance of the bonds, the HRA
and Cornerstone agreed that Cornerstone would be responsible for the payment
of principal and interest on the bonds. It was agreed that sale proceeds from
residential units from the development would be used to pay the bonds.
. The bonds mature on February 1, 2006, the principal due is $3,000,000 and
interest due is $37,500 for a total due of $3,037,500.
. Presently there is a deficiency in residential sales proceeds received by the HRA
from Cornerstone. In communication with Cornerstone they anticipate sales of
three additional units by January 31, 2006. At the current time, based on the
estimated home closings between now and February 1; the estimated amount of
the balance is $326,000. If any of the closings do not occur, the deficiency could
increase to a balance of up to $718,000.
I III. BASIS OF RECOMMENDATION I
I A. POLICY I
. It is the recommendation that the HRA approve the increase of the
M&I mortgage and authorize the execution of the necessary
documents.
. The recommendation will also be that the execution and delivery of
the documents not occur until three residential sales closings
identified by Cornerstone occur and proceeds are transferred to the
HRA, and the HRA's consultant expenses in connection with these
matters have been reimbursed in full by Cornerstone.
. If the sale proceeds from the three closing and the reimbursements
have not been received by the HRA by January 31,2006, the
approvals will be automatically rescinded.
I B. CRITICAL ISSUES I
. The 2003A bonds mature on February 1, 2006 and it is necessary to '
identify an interim finanCing plan to ensure timely payment of the
bonds.
I C. FINANCIAL I
. Principal and interest on the 2003A bonds is to be paid by
Cornerstone out of residential sale proceeds form the development.
. Total principal and interest due on February 1, 2006 is $3,037,500.
It is expected that February 1 , 2006 residential sale proceeds received
by the HRA from Cornerstone could be deficient by up to $718,000.
. In lieu of remedies available under the Redevelopment Contract, the
HRA will secure the funds necessary to cover the deficiency and pay
the bonds on February 1,2006 by an interfund loan from the City or
HRA funds available for this p,urpose.
. The interim loan will be for a period not to exceed six months and will
bear interest at the rate permitted by Minnesota Statutes, Section
469.178 Subd. 7.
. Principal and interest on the interfund loan will be charged against
sale proceeds for the remaining units.
. If the HRA has not received sufficient proceeds form the sales of
additional units during that six month period to repay the interim loan,
the HRA will utilize any of the remedies available to it under the
Redevelopment Contract.
I D. LEGAL I
. The interest permitted by Minnesota Statutes, Section 469.178 Subd.
7 is 6%;
I IV. ALTERNATIVE RECOMMENDATION(S)
. N/A
I V. ATTACHMENTS
. Resolution
I VI. PRINCIPAL PARTIES EXPECTED AT MEETING I
. Sid Inman, Ehlers & Associates, Inc. financial consultant to the HRA.
. Representative from The Cornerstone Group, developer of Kensington Park.
HRA RESOLUTION NO.
RESOLUTION AUTHORIZING AN INTERFUND LOAN FOR ADVANCE OF
CERTAIN COSTS IN CONNECTION WITH TAX INCREMENT FINANCING
DISTRICT NO. 1286.
BE IT RESOLVED by the Richfield HRA (the "HRA") of the City of Richfield, Minnesota (the
. "City"), as follows:
Section 1.
Backaround.
1.01. The City has heretofore approved the establishment of The Lyndale Gateway West Tax
Increment Financing District (the "TIF District") within the Richfield Redevelopment Area (the "Project"),
and has adopted a Tax Increment Financing Plan (the "TIF Plan") for the purpose of financing certain
improvements within the Project.
1.02. The lIRA has determined to pay for certain costs oidentified in the TIF Plan consisting of
land/building acquisition, which costs may be fmanced on a temporary basis from lIRA funds available for
such purposes.
1.03. Under Minnesota Statutes, Section 469.178, Subd. 7, the HRA is authorized to
advance or loan money from the HRA's general fund or any other fund from which such advances.
may be legally made, in order to finance the Qualified Costs.
1.04. The HRA intends to reimburse itself for the Qualified Costs from payments made by
the Redeveloper in accordance with the terms of this resolution (which terms are referred to
collectively as the "Interfund Loan").
Section 2.
Terms of Interfund Loan.
2.01. On February 1, 2006 the HRA will advance to pay the Qualified Costs related to the
TIF District, in a principal amount up to $718,000. The HRA will reimburse itself for such advances
together with interest at the rate of the statutory rate allowed by law per annum. Interest accrues
on the principal amount from the date of each advance. The maximum rate of interest permitted to
be charged is limited to the greater of the rates specified under Minnesota Statutes, Section 270.75
or Section 549.09 as of the date or advance is made, unless the written agreement states that the
maximum interest rate will fluctuate as the interest rates specified under Minnesota Statutes,
Section 270.75 or Section 549.09 are from time to time adjusted.
2.02. The term of the Interfund Loan shall be 6 months and Principal and interest ("Payments") on
the Interfund Loan shall be payable by the Redev~loper on August 1,2006.
2.03. Payments on this Interfund Loan are payable solely from payments form the
Redeveloper.
2.04. The principal sum and all accrued interest payable under this Interfund Loan are pre-
payable in whole or in part at any time by the HRA without premium or penalty. No partial
prepayment shall affect the amount or timing of any other regular payment otherwise requiredto be
made under this Interfund Loan.
2.05. This Interfund Loan is evidence of an internal borrowing by the HRA in accordance
with Minnesota Statutes, Section 469.178, Subd. 7, and is a limited obligation payable solely from
payment of the Redeveloper. This Interfund Loan and the interest hereon shall not be .deemed to
constitute a general obligation of the State of Minnesota or any political subdivision thereof,
including, without limitation, the HRA. Neither the State of Minnesota, nor any political subdivision
thereof shall be obligated to pay the principal of or interest on this Interfund Loan or other costs
incident hereto. Neither the full faith and credit nor the taxing power of the State of Minnesota or
any political subdivision thereof is pledged to the payment of the principal of or interest. on this
Interfund Loan or other costs incident hereto. . The HRA shall ,have no obligation to pay any
principal amount of the Interfund Loan or accrued interest thereon, which may remain unpaid after
the final Payment Date.
2.06. The HRA may amend the terms of this Interfund Loan at any time by resolution of the
HRA, including a determination to forgive the outstanding principal amount and accrued interest to
the extent permissible under law.
Section 3.
Effective Date. This resolution is effective upon the date of its approval.
Adopted by the Housing and Redevelopment Authority in and for the City of Richfield,
Minnesota this 17th day of January 2006.
ATTEST:
Secretary
Chair
AGENDA ITEM # 8
REpORT # 7
.......
STAFF REpORT
RICHFIELD
HOUSING AND REDEVELOPMENT
AUTHORITY MEETING
JANUARY 17, 2006
REpORT PREPARED By:
PATRICK SMITH, COMMUNITY
DEVELOPMENT MANAGER
NAME, TInE
REpORT PRESENTER:
PATRICK SMITH, COMMUNITY
DEVELOPMENT MANAGER
NAME, TInE
REVIEWED BY EXECUTIVE DIRECTOR:
DEPARTMENT DIRECTOR REVIEW:
ITEM FOR HRA CONSIDERATION:
Consideration of a resolution regarding an amendment to the Contract for Private
Development by and between the Housing and Redevelopment Authority in and for the City of
Richfield and Ryan Companies US, Inc.
I. RECOMMENDED ACTION:
By resolution: Approve the attached resolution, which amends the
Contract with Ryan Companies US, Inc., and extends the Cedar Point
Concept Plan submission date.
I II. BACKGROUND I
In July 2005 the Richfield Housing and Redevelopment Authority (HRA) entered
into a Private Development Agreement (Contract) with Ryan Companies US, Inc.
(Developer) for the Cedar Point area. According to Section 5.0.1 the Developer
is responsible for submitting Concept Plans to the HRA and City Council for their
review and approval no later than 180 days after execution of the Contract. The
end of the 180 day period is January 23, 2006.
Cedar Point Concept Plan Extension
Concept Plans include building elevations, public improvement plans, and
landscaping plans. Pursuant to the attached letter the Concept Plans will not be
completed by said date.
I III. BASIS OF RECOMMENDATION I
I A. POLICY I
. On July 27,2005 the HRAentered into a Contract for Private
Development with the Developer.
. Under the contract the Developer is responsible for submitting
Concept Plans for the HRA and City Council review and approval
by January 23,.2006.
I B. CRITICAL ISSUES I
. Staff working with Ryan and Target representatives is achieving
excellent results as we move toward the goal of developing a retail
center that will be distinctively Richfield in character. It simply is
taking longer to work through all of the design issues than
anticipated.
. Recently the Developer initiated discussions with Home Depot
regarding the design of their facility. The idea is to have design
compatibility within the development.
. The proposed submittal extension is for 60 days - March 24, 2006.
I C. FINANCIAL
. N/A
I D. LEGAL I
. Legal counsel prepared the attached resolution.
I IV.
ALTERNATIVE RECOMMENDATION(S) I
. Reject or defer approval of the attached resolution.
Iv.
ATTACHMENTS
. Resolution
. Letter from Developer
I VI.
PRINCIPAL PARTIES EXPECTED AT
MEETING
. N/A
HRA RESOLUTION NO.
AMENDMENT NUMBER 1 - CONTRACT FOR PRIVATE REDEVELOPMENT RYAN
COMPANIES US, INC.
WHEREAS, Ryan Companies US, Inc. (Developer) executed a Contract for
Private Development (Contract) with the Richfield Housing and Redevelopment
Authority (HRA) on July 27,2005; and
WHEREAS, the Contract requires the Developer to submit Concept Plans to the
HRA and City Council for their review and approval no later than 180 days after the
execution date of the Contract; and
WHEREAS, the 180 day submittal deadline expires January 23, 2005; and
WHEREAS, due to the complexity of the project and working with two major
tenants, the Developer will be unable to meet the submittal date for Concept Plan
review and approval; and -
WHEREAS, the Developer has requested the HRA to extend submittal date for
the Concept Plans 60 days until March 24, 2006.
NOW, THEREFORE, BE IT RESOLVED that the Housing and Redevelopment
Authority in and for the City of Richfield hereby approves Amendment No.1 to the
Contract and extends the Concept Plans submittal date 60-days, until March 24, 2006.
Approved by the Housing and Redevelopment Authority in and for the City of
Richfield, Minnesota this 17th day of January, 2006
Chair
A TIEST:
Secretary
WWW.RYANCOMPANIES.COM
RYAN COMPANIES US, INC.
50 South Tenth Street, Suite 300
Minneapolis, MN 55403-2012
~YAN@
612-492-4000 tel
612-492-3000 fax
BUILDING LASTING RELATIONSHIPS
January 10, 2006
Patrick Smith, AICP
Community Development Manager
Community Development Department
City of Richfield
6700 Portland Avenue
Richfield, MN 55423
RE: Ryan Companies US, Inc. ("Ryan")
Concept Plan Submittal for Richfield Project ("Concept Plan")
Dear Mr. Smith:
Pursuant to Article 5, paragraph 1 of that certain Contract for Private Development dated July 27, 2005
("Contract") by and between Ryan and the Housing and Redevelopment Authority in and for the City of
Richfield ("HRA"), Ryan is required to submit its Concept Plan to the HRA and the City Council for their
review and approval no later than 180 days after execution of the Contract, which date is January 23, 2006. It
is unlikely that Ryan will be able to complete its Concept Plan for submittal by said date. As a result, Ryan
hereby respectfully requests that the HRA and the City Council grant an extension of such date for an
additional sixty (60) days to March 24, 2006.
Pursuant to your letter dated January 5, 2006, it is my understanding that HRA will be reviewing this request
at its January 17, 2006 meeting. If the HRA is agreeable to granting the requested extension, please have an
amendment to the Contract prepared.
Thank you for your assistance and attention to this matter.
cc: John Dean, Kennedy & Graven
Kristi R. Riley, Barna Guzy & Steffen
Jeffrey S. Johnson, Barna Guzy & Steffen
Charles Diessner, Fredrickson & Byron
AZ LICENSE ROC095146, CA LICENSE 800760, OR LICENSE CC8155932