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April 7, 1997 Work Session AgendaAGENDA CITY COUNCIL WORK SESSION MONDAY, APRIL 7 7 COURTYARD CONFERENCE ROOM, 690 COULTER DRIVE Supper will be provided at 6:30 p.m. 1. 5:00 p.m.- Decision Resources Executive Summary on Carver County Library Needs, at the Carver County Board Room. 2. 6:30 p.m. - Moratorium in the Downtown Area. 3. 7:00 p.m. - Board of Review and Equalization (in the Council Chambers). 4. 7:45 p.m. - Presentation of Park Bond Referendum Options 1 and 2, Park Task Force. CITY OF CHANHASSEN 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317 (612) 937 -1900 • FAX (612) 937 -5739 MEMORANDUM TO: Mayor and City Council FROM: Don Ashworth, City Manager DATE: April 1, 1997 SUBJ: Special Meeting Date Councilman Berquist has requested that the Council review the Steiner Development proposal (southwest corner of Hwys. 41 and 5) in a. work session format prior to a formal review on April 14`'. Mayor Mancino agrees that a work session on this topic would be helpful and is hereby requesting the City Council to be present on: Thursday, April 10 Chanhassen City Council Chambers 5:30 p.m. It is anticipated that the item will be presented in typical_ meeting format, i.e. staff report, presentation by developer, public comments, and City Council discussion. No votes will be taken, and accordingly, we will not be recording /preparing official minutes. c: Paul Steiner Fred Richter LuAnn Sidney Chanhassen Villager P. S. LuAnn Sidney - Councilman Berquist asked that I send this notice to you in hopes that you may be aware of some of your neighbors that migh wish to sit in on this meeting and would make that invitation to them. Thanks. CITY OF 4 CHANHASSEN 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317 (612) 937 -1900 • FAX (612) 937 -5739 MEMORANDUM TO: Mayor and City Council FROM: Alison Blackowiak and Mike Lynch, Co- Chairs Park Task Force DATE: April 2, 1997 SUBJ: City Council Work Session The Task Force looks forward to meeting with you on Monday, April 7, 1 997. At that time, we would like to review the following documents with you: 1. A calendar highlighting our proposed schedule between now and Saturday, June 14, 1997, our tentative "vote" date. 2. Park, open space and trail bond referendum components Option #1 —$3.9 million. 3. Park, open space and trail bond referendum components Option #2 —$4.9 million. 4. General obligation park bonds debt service scenario comparisons. We hope to see you all on Monday night. We would like to make you aware that Park and Recreation Commissions have been invited to participate in the work session. c: Park and Recreation Commission Don Ashworth, City Manager PARK REFERENDUM TASK FORCE SCHEDULE Date Time Items Monday, March 24, 1997 7:30 p.m. City Council meeting/Receive Authorization to Proceed Thursday, March 27, 1997 6:00 p.m. PTF Meeting/Finalize Components /$ Monday, April 7, 1997 7:30 p.m. PTF /CC Work Session Thursday, April 10, 1997 7:30 p.m. PTF Meeting /Committee Assignments/Work Session Monday, April 14, 1997 7:30 p.m. City Council Meeting/Approve Special Election Resolution Tuesday, April 15, 1997 Give Written Notice of Special Election Resolution to County Auditor /Seek Bond Counsel Approval of Ballot Question Tuesday, April 22, 1997 Receive Bond Counsel Approval of Ballot Question Thursday, April 24, 1997 7:30 p.m. PTF/Vote Yes Committee Kick Off, Jon Gurban, Speaker Monday, April 28, 1997 7:30 p.m. City Council Meeting/Approve Sample Ballot, Polling Locations and Times Tuesday, April 29, 1997 Give copy of Ballot Question to County Auditor Thursday, May 1, 1997 7:30 p.m. Vote Yes Meeting Thursday, May 8, 1997 7:30 p.m. PTF Meeting Thursday, May 15, 1997 7:30 p.m. Vote Yes Meeting Saturday, May 17, 1997 Hot Week Campaign Sunday, May 18, 1997 Hot Week Campaign Monday, May 19, 1997 Hot Week Campaign Tuesday, May 20, 1997 Hot Week Campaign Wednesday, May 21, 1997 Hot Week Campaign Thursday, May 22, 1997 Hot Week Campaign Thursday, May 22, 1997 7:30 p.m. PTF Newspaper Ad PTF Meeting Tuesday, May 27, 1997 Mail Brochure Thursday, May 29, 1997 7:30 p.m. Publish and Post Notice of Election Vote Yes Meeting Saturday, May 31, 1997 9 a.m.- 5 p.m. City Wide Phone Bank Sunday, June 1, 1997 12 - 8 p.m. City Wide Phone Bank Thursday, June 5, 1997 Post Sample Ballot in County Clerk's Office/Vote Yes Newspaper Ads Wednesday, June 11, 1997 3 - 9 p.m. Put up road signs — "Please Vote on June 14" "Get Out the Vote" Phone Banks Thursday, June 12, 1997 3 - 9 p.m. Vote Yes Newspaper Ads "Get out the Vote" Phone Banks Friday, June 13, 1997 3 - 9 p.m. "Get Out the Vote" Phone Banks Saturday, June 14, 1997 Before 8 a.m. 8 a.m.- 8 p.m. 1 - 7 p.m. 6 - 10 p.m. Post Sample Ballot in Polling Location VOTING "Did you Vote" Phone Banks Supper and CELEBRATION! g: \park\referen \ealendar.doc 1997 PARK, OPEN SPACE AND TRAIL BOND REFERENDUM COMPONENTS Option #1; $3.9 million NEIGHBORHOOD PARK IMPROVEMENTS Carver Beach Park Neighborhood Picnic Shelter $20,000 Park Walk $10,000 Chanhassen Hills Park Neighborhood Picnic Shelter $20,000 Curry Farms Park Neighborhood Picnic Shelter $20,000 Half Court Basketball $3,000 Galpin Boulevard Park Final Grading, Access Road, Park $50,000 Phase I Playground Equipment $30,000 Neighborhood Picnic Shelter $20,000 Park Walk $6,000 Half Court Basketball $3,000 Sand Volleyball $1,000 Herman Field Park Neighborhood Park Shelter $20,000 Trail Boardwalk $17,500 Meadow Green Park Neighborhood Picnic Shelter $20,000 Park Walk $15,000 Minnewashta Heights Park Neighborhood Picnic Shelter $20,000 Play Area Refurbishment $10,000 North Lotus Lake Park Neighborhood Picnic Shelter $30,000 Park Walk $25,000 Pheasant Hill Park Phase II Playground Equipment $20,000 Neighborhood Picnic Shelter $20,000 Power Hill Park Neighborhood Picnic Shelter Prairie Knoll Park Half Court Basketball Rice Marsh Lake Park Replace Neighborhood Picnic Shelter Playground Refurbishment Sand Volleyball Court Roundhouse Park Tennis Courts (2) Phase II Playground Equipment South Lotus Lake Park Phase II Playground Equipment Park Walk Stone Creek Park Park Walk with Bridge Sunset Ridge Park Half Court Basketball SUBTOTAL TRAIL CONSTRUCTION State Highway 7 Construct an 8 ft. wide off - street bituminous pedestrian trail on the south side of Highway 7 from Minnewashta Parkway east to Washta Bay Road. Length: Approximately one mile. Galpin Boulevard Construct an 8 ft. wide off - street bituminous pedestrian trail from Highway 5 north to the City of Shorewood. Length: Approximately 1 /a miles. Powers Boulevard Construct an 8 ft. wide off - street bituminous pedestrian trail from Saddlebrook Trail north to the City of Shorewood. Great Plains Boulevard Construct an 8 ft. wide off - street bituminous pedestrian trail from Lake Susan Hills Drive north to connect with the existing east /west Lake Susan/Rice Marsh Lake trail. $20,000 $3,000 $20,000 $15,000 $1,000 $30,000 $20,000 $15,000 $12,000 $35,000 $3,000 $554,500 $215,000 $300,000 $300,000 $150,000 Bluff Creek Trail Connector $100,000 Complete the first phase of the Bluff Creek trail from the Chanhassen Business Center south to the intersection of Audubon Road and Lyman Boulevard, including a connection to the Bluff Creek Estates neighborhood. Length: Approximately 3 /4 mile. Pioneer Trail /Great Plains Boulevard $175,000 Construct an 8 ft. wide off - street bituminous trail from Kiowa Trail south to Pioneer Trail then east to connect with the Hennepin County Regional Trail Corridor. Length: Approximately 1 %4 miles. SUBTOTAL $1,240,000 COMMUNITY PARK DEVELOPMENT Bandimere Community Parkland/Youth Athletic Facility $900,000 Construct a full service youth athletic facility on 37 acres of existing parkland. City Center Park/Youth Athletic Improvements $250,000 Purchase an additional 2 acres of open space. Reconfigure ball fields and add parking. SUBTOTAL $1,150,000 OPEN SPACE PRESERVATION Purchase Highly Desirable Open Space $1,000,000 SUBTOTAL $1,000,000 GRAND TOTAL $3 9 944 9 500 gApark\referen \components.doc 1997 PARK, OPEN SPACE AND TRAIL BOND REFERENDUM COMPONENTS Option #2; $4.9 million NEIGHBORHOOD PARK IMPROVEMENTS Carver Beach Park Neighborhood Picnic Shelter $20,000 Park Walk $10,000 Chanhassen Hills Park Neighborhood Picnic Shelter $20,000 Curry Farms Park Neighborhood Picnic Shelter $20,000 Half Court Basketball $3,000 Galpin Boulevard Park Final Grading, Access Road, Park $50,000 Phase I Playground Equipment $30,000 Neighborhood Picnic Shelter $20,000 Park Walk $6,000 Half Court Basketball $3,000 Sand Volleyball $1,000 Herman Field Park Neighborhood Park Shelter $20,000 Trail Boardwalk $17,500 Meadow Green Park Neighborhood Picnic Shelter $20,000 Park Walk $15,000 Minnewashta Heights Park Neighborhood Picnic Shelter $20,000 Play Area Refurbishment $10,000 North Lotus Lake Park Neighborhood Picnic Shelter $30,000 Park Walk $25,000 Pheasant Hill Park Phase II Playground Equipment $20,000 Neighborhood Picnic Shelter $20,000 Power Hill Park Neighborhood Picnic Shelter $20,000 Prairie Knoll Park Half Court Basketball $3,000 Rice Marsh Lake Park Replace Neighborhood Picnic Shelter $20,000 Playground Refurbishment $15,000 Sand Volleyball Court $1,000 Roundhouse Park Tennis Courts (2) $30,000 Phase II Playground Equipment $20,000 South Lotus Lake Park Phase II Playground Equipment $15,000 Park Walk $12,000 Stone Creek Park Park Walk with Bridge $35,000 Sunset Ridge Park Half Court Basketball $3,000 SUBTOTAL $554,500 TRAIL CONSTRUCTION State Highway 7 $215,000 Construct an 8 ft. wide off - street bituminous pedestrian trail on the south side of Highway 7 from Minnewashta Parkway east to Washta Bay Road. Length: Approximately one mile. Galpin Boulevard $300,000 Construct an 8 ft. wide off - street bituminous pedestrian trail from Highway 5 north to the City of Shorewood. Length: Approximately 1 /a miles. Powers Boulevard $300,000 Construct an 8 ft. wide off - street bituminous pedestrian trail from Saddlebrook Trail north to the City of Shorewood. Great Plains Boulevard $150,000 Construct an 8 ft. wide off - street bituminous pedestrian trail from Lake Susan Hills Drive north to connect with the existing east /west Lake Susan/Rice Marsh Lake trail. Bluff Creek Trail Connector $100,000 Complete the first phase of the Bluff Creek trail from the Chanhassen Business Center south to the intersection of Audubon Road and Lyman Boulevard, including a connection to the Bluff Creek Estates neighborhood. Length: Approximately Y4 mile. Pioneer Trail /Great Plains Boulevard $175,000 Construct an 8 ft. wide off - street bituminous trail from Kiowa Trail south to Pioneer Trail then east to connect with the Hennepin County Regional Trail Corridor. Length: Approximately 1 %4 miles. Chan Hills Connector Trail $50,000 Construct an 8 ft. wide off - street bituminous trail from Lake Susan Drive west to Powers Blvd. Length: Approximately %4 mile. SUBTOTAL $1,290,000 COMMUNITY PARK DEVELOPMENT Bandimere Community Parkland/Youth Athletic Facility $1,250,000 Construct a full service youth athletic facility on 37 acres of existing parkland. City Center Park/Youth Athletic Improvements $350,000 Purchase an additional 2 acres of open space. Reconfigure ball fields and add parking. SUBTOTAL $1,600,000 OPEN SPACE PRESERVATION Purchase Highly Desirable Open Space $1,500,000 SUBTOTAL $1,500,000 GRAND TOTAL $4 gApark \rcferen \components2.doc City of Chanhassen, Minnesota General Obligation Park Bonds Debt Service Scenario Comparisons Schedule Debt Service Structure Comoosition of Issue Total Bond Size Less: Cost of Issuance Discount Plus: Investment Earnings Net Project Costs Debt Service Sta tistics Average Debt Service Total Interest T.I.C. Rate Term Tax Impact A A -1 B B -1 Level on New Level Total Level on New Level Total $3,985,000 $3,985,000 $5,000,000 $5,000,000 ($27,550) ($27,550) ($34,600) ($34,600) ($59,800) ($59,800) ($70,065) ($70,065) $2,350 $2,350 $4,665 $4,665 $3,900,000 $3,900,000 $4,900,000 $4,900,000 $363,735 $371,658 $2,943,289 $3,021,814 5.914% 5.910% 20levys 20levys $456,330 $516,501 $3,691,992 $4,061,635 5.902% 5.924% 201evys 201evys Average Annual Impact $51.50 $52.62 $64.61 per $150,000 home Tax per month $4.29 $4.39 $5.38 *Based on City's 1996 referendum market value of $1,059,498,855 $73.12 $6.09 Prepared by: Springsted Incorporated (4/1/97) CHASSEN.DOC ty of Chanhassen, Minnesota neral Obligation Bonds, Series 1997 ,985,000 Total Prepared April 1, 1997 By SPRINGSTED Incorporated ted: 10- 1 -1997 SCHEDULE A ture: 2- 1 rst Interest: 8- 1 -1998 Total Existing Total ar of Year of Principal 105% G.O. Debt Debt Levy Mat. Principal Rates Interest & Interest of Total Levy Service (1) (2) (3) (4) (5) (6) (7) (8) (9) 1997 1999 50,000 4.55% 297,105 347,105 364,460 426,858 791,318 1998 2000 125,000 4.65% 220,554 345,554 362 427,073 789 1999 2001 130,000 4.75% 214,741 344,741 361 450,784 812 2000 2002 140,000 4.85% 208,566 348,566 365,994 252,040 618,034 2001 2003 145,000 4.95% 201 346,776 364,115 268,090 632,205 2002 2004 150,000 5.05% 194,598 344 361,828 256,830 618,658 2003 2005 160,000 5.15% 187,023 347,023 364,374 0 364,374 2004 2006 170,000 5.25% 178,783 348,783 366,222 0 366,222 2005 2007 175 5.35% 169,858 344 362,101 0 362 2006 2008 185,000 5.45% 160 345,495 362,770 0 362,770 2007 2009 195,000 5.55% 150,412 345 362,683 0 362,683 2008 2010 205,000 5.65% 139,589 344 361,818 0 361,818 2009 2011 220,000 5.75% 128,006 348,006 365,406 0 365,406 2010 2012 230,000 5.80% 115,356 345,356 362,624 0 362,624 2011 2013 245,000 5.85% 102 347,016 364 0 364,367 2012 2014 260,000 5.90% 87 347 365,067 0 365,067 2013 2015 275 5.95% 72,343 347,343 364,710 0 364,710 2014 2016 290,000 6.00% 55,980 345,980 363,279 0 363,279 2015 2017 310,000 6.05% 38,580 348,580 366,009 0 366,009 2016 2018 325,000 6.10% 19,825 344,825 362,066 0 362,066 PALS: 3,985,000 2 6,928,289 7,274,703 2,081,674 9,356,378 id Years: 50,913.33 Annual Interest: 2 j. Maturity: 12.78 Plus Discount: 59,800 1. Annual Rate: 5.781% Net Interest: 3 I.C. Rate: 5.914% N.I.C. Rate: 5.898% tal Debt Service (Average of Levy Years: 1997 -2016) Column 7: $ 363 serest rates are estimates; changes may cause significant alterations of this schedule. actual underwriter's discount bid may also vary. City of Chanhassen, Minnesota Prepared April 1, 1997 General Obligation Bonds, Series 1997 By SPRINGSTED Incorporated $3,985,000 Total Dated: 10- 1 -1997 SCHEDULE A -1 Mature: 2- 1 First Interest: 8- 1 -1998 Total Existing Total Year of Year of Principal 105% G.O. Debt Debt Levy Mat. Principal Rates Interest & Interest of Total Levy Service (1) (2) (3) (4) (5) (6) (7) (8) (9) 1997 1999 0 4.55% 298,807 298,807 313,747 426,858 740,605 1998 2000 35,000 4.65% 224005 259 272,060 427,073 699,133 1999 2001 15,000 4.75% 222,477 237,477 249,351 450,784 700,135 2000 2002 200,000 4.85% 221,764 421,764 442,852 252,040 694,892 2001 2003 200,000 4.95% 212,064 412 432 268,090 700,757 2002 2004 220,000 5.05% 202,164 422,164 443,272 256,830 700,102 2003 2005 165,000 5.15% 191,054 356,054 373,857 0 373,857 2004 2006 170 5.25% 182 352,556 370,184 0 370,184 2005 2007 180,000 5.35% 173,631 353 371,313 0 371,313 2006 2008 190,000 5.45% 164,001 354,001 371,701 0 371,701 2007 2009 200 5.55% 153,646 353,646 371,328 0 371,328 2008 2010 210,000 5.65% 142,546 352,546 370,173 0 370,173 2009 2011 225,000 5.75% 130,681 355,681 373 0 373 2010 2012 235,000 5.80% 117,743 352,743 370,380 0 370,380 2011 2013 250,000 5.85% 104,113 354 371 0 371,819 2012 2014 265,000 5.90% 89,488 354,488 372,212 0 372,212 2013 2015 280 5.95% 73,853 353,853 371,546 0 371 2014 2016 295,000 6.00% 57,193 352093 369,803 0 369,803 2015 2017 315,000 6.05% 39,493 354,493 372,218 0 372,218 2016 2018 335 6.10% 20 355,435 373,207 0 373,207 TOTALS: 3,985,000 3,021,814 7,006,814 7 2,081,674 9,438,830 Bond Years: 52,278.33 Annual Interest: 3,021,814 Avg. Maturity: 13.12 Plus Discount: 59,800 Avg. Annual Rate: 5.780% Net Interest: 3,081,614 T.I.C. Rate: 5.910% N.I.C. Rate: 5.8950 Total Debt Service (Average of Levy Years: 2003 -2016) Column 7: $ 371,658 Interest rates are estimates; changes may cause significant alterations of this schedule. The actual underwriter's discount bid may also vary. id Years: 63,866.67 Annual Interest: 3,691,992 g. Maturity: 12.77 Plus Discount: 70,065 I. Annual Rate: 5.781% ty of Chanhassen, Minnesota 5.902% N.I.C. Rate: 5.890% Prepared April 1, 1997 neral Obligation Bonds, Series 1997 $ By SPRINGSTED Incorporated ,000,000 Total ted: 10- 1 -1997 SCHEDULE B ture: 2- 1 rst Interest: 8- 1 -1998 Total Existing Total ar of Year of Principal 105% G.O. Debt Debt Levy Mat. Principal Rates Interest & Interest of Total Levy Service (1) (2) (3) (4) (5) (6) (7) (8) (9) 1997 1999 60,000 4.55% 372,765 432,765 454 426,858 881,261 1998 2000 160,000 4.65% 276,844 436 458,686 427,073 885,759 1999 2001 165,000 4.75% 269,404 434,404 456,124 450 906,908 2000 2002 175,000 4.85% 261,566 436 458,394 252,040 710,434 2001 2003 180,000 4.95% 253,078 433 454,732 268,090 722,822 2002 2004 190,000 5.05% 244,168 434,168 455,876 256 712,706 2003 2005 200,000 5.15% 234 434 456,302 0 456,302 2004 2006 210,000 5.25% 224 434,273 455,987 0 455,987 2005 2007 220,000 5.35% 213,248 433,248 454,910 0 454,910 2006 2008 235 5.45% 201 436 458 0 458,302 2007 2009 245,000 5.55% 188 433,670 455,354 0 455,354 2008 2010 260,000 5.65% 175,072 435,072 456,826 0 456,826 2009 2011 275 5.75% 160,382 435,382 457,151 0 457,151 2010 2012 290,000 5.80% 144,569 434,569 456,297 0 456,297 2011 2013 305,000 5.85% 127,749 432,749 454,386 0 454,386 2012 2014 325,000 5.90% 109 434 456,651 0 456 2013 2015 345,000 5.95% 90,731 435,731 457,518 0 457,518 2014 2016 365,000 6.00% 70 435,203 456,963 0 456 2015 2017 385,000 6.05% 48,303 433,303 454,968 0 454,968 2016 2018 410,000 6.100 25,010 435,010 456,761 0 456,761 TALS: 5 3,691,992 8 9 2,081,675 11,208,266 id Years: 63,866.67 Annual Interest: 3,691,992 g. Maturity: 12.77 Plus Discount: 70,065 I. Annual Rate: 5.781% Net Interest: 3 I.C. Rate: 5.902% N.I.C. Rate: 5.890% tal Debt Service (Average of Levy Years: 1997 -2016) Column 7: $ 456,330 terest rates are estimates; changes may cause significant alterations of this schedule. a actual underwriter's discount bid may also vary. City of Chanhassen, Minnesota Prepared April 1, 1997 General Obligation Bonds, Series 1997 By SPRINGSTED Incorporated $5,000,000 Total Dated: 10- 1 -1997 SCHEDULE B -1 Mature: 2- 1 First Interest: 8- 1 -1998 Total Existing Total Year of Year of Principal 105% G.O. Debt Debt Levy Mat. Principal Rates Interest & Interest of Total Levy Service (1) (2) (3) (4) (5) (6) (7) (8) (9) 1997 1999 0 4.55% 379,684 379 398,668 426,858 825,526 1998 2000 0 4.65% 284,763 284 299,001 427,073 726,074 1999 2001 0 4.75% 284,763 284,763 299,001 450,784 749,785 2000 2002 130,000 4.85% 284,763 414,763 435,501 252,040 687,541 2001 2003 120,000 4.95% 278,458 398,458 418,381 268,090 686,471 2002 2004 140,000 5.05% 272,518 412,518 433044 256,830 689,974 2003 2005 225,000 5.15% 265,448 490 514,970 0 514,970 2004 2006 240,000 5.250 253,860 493,860 518 0 518,553 2005 2007 250,000 5.350 241,260 491,260 515,823 0 515,823 2006 2008 265,000 5.45% 227,885 492,885 517,529 0 517,529 2007 2009 280,000 5.55% 213 493,442 518,114 0 518,114 2008 2010 295,000 5.65% 197,902 492,902 517,547 0 517,547 2009 2011 310,000 5.75% 181,234 491,234 515,796 0 515,796 2010 2012 330,000 5.80% 163,409 493,409 518,079 0 518,079 2011 2013 345,000 5.85% 144,269 489,269 513,732 0 513,732 2012 2014 370,000 5.90% 124,086 494,086 518,790 0 518,790 2013 2015 390,000 5.95% 102,256 492,256 516,869 0 516,869 2014 2016 410,000 6.00% 79,051 489,051 513,504 0 513,504 2015 2017 435,000 6.05% 54,451 489,451 513,924 0 513,924 2016 2018 465,000 6.05% 28 493,133 517,790 0 517,790 TOTALS: 5,000,000 4,061,635 9,061,635 9,514,716 2,081,674 11,596,391 Bond Years: 69,961.67 Annual Interest: 4,061,635 Avg. Maturity: 13.99 Plus Discount: 70,065 Avg. Annual Rate: 5.806% Net Interest: 4 T.I.C. Rate: 5.924% N.I.C. Rate: 5.906% Total Debt Service (Average of Levy Years: 2003 -2016) Column 7: $ 516,501 Interest rates are estimates; changes may cause significant alterations of this schedule. The actual underwriter's discount bid may also vary.