95-90 CITY OF CHANHASSEN
CAR VEl l AND HENNEPIN COUNTIES, MINNESOTA
DA TE: September 11, 1995
RESOLUTION NO: 95-90
MOTION BY: Senn
SECONDED BY: Mason
A RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL
FOR AN INDUSTRIAL FACILITIES DEVELOPMENT PROJECT PURSUANT
TO MINNESOTA STATUTES AND AUTHORIZING THE
PUBLICATION OF A NOTICE OF HEARING
WHEREAS, Minnesota Statutes, Sections 469.152 through 469.165, relating to
municipal industrial development (the "Act"), gives municipalities the power to issue
revenue bonds for the purpose of the encouragement and development of economically
sound industry and commerce to prevent so far as possible the emergence of blighted
and marginal lands and areas of chronic unemployment; and
WHEREAS, the City Council of the City of Chanhassen, Minnesota (the "City"),
has received from Building Management Group, LL., a Minnesota limited liability
corporation (collectively the 'Company"), a proposal that the City assist in financing a
project hereinafter described, through the issuance of its industrial revenue bonds (the
"Bonds") pursuant to the Act; and
WHEREAS, before proceeding with consideration of the request of the Company
it is necessary for the City to hold a public hearing on the proposal pursuant to Section
469.154, Subdivision 4, of the Act:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Chanhassen, Minnesota, as follows:
.
A public hearing on the proposal of the Company will be held at the
time and place set forth in the Notice of Public Hearing hereto attached.
.
The general nature of the proposal and an estimate of the principal
amount of Bonds to be issued to finance the proposal are described in the
attached form of Notice of Public Hearing.
.
A draft copy of the proposed application to the Commissioner of the
Department of Trade and Economic Development, State of Minnesota for
approval of the project, together with proposed forms of all attachments
and exhibits thereto, is on file in the office of the Manager.
.
The Manager is hereby authorized and directed to cause notice of the
hearing to be given one publication in the official newspaper of the City
and also in a newspaper of general circulation available in the City, not
less than 14 days nor more than 30 days prior to the date fixed for the
hearing, substantially in the form of the attached Notice of Public Hearing.
Passed and adopted by the Chanhassen City Council this 11th day of
September, 1995.
ATTEST:
Don A~-~orth,~t~ Clerk~Manager
YES NO
Donald~el, Mayor ~
ABSENT
Chmiel
Dockendorf
Mason
Senn
None Berquist
NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR AN INDUSTRIAL
DEVELOPMENT PROJECT
Notice is hereby given that the City Council of the City of Chanhassen, Minnesota
will meet at City Hall, 690 Coulter Drive, at 7:30 p.m. on Monday, October 9, 1995, to
consider the proposal of Building Management Group (the "Company"), that the city
assist in financing a project hereinafter described by the issuance of industrial
development revenue bonds.
The project consists of the acquisition of land located on Lake Drive West in the
Chanhassen Business Center described as Lot 2, Block 1, Chanhassen Business Center
Third Addition and construction of an approximately 35,000 sq. ft. facility thereon to be
leased by the Company to Control Products, Inc. for use in the design and manufacture of
custom temperature and other building controls. The owner of the building will be
Building Management Group, LLC, a Minnesota limited liability corporation (the
"Company").
The maximum aggregate estimated principal amount of bonds or other obligations
to be issued to finance this project is $2,000,000.
The bonds or other obligations if and when issued will not constitute a charge,
lien or encumbrance upon any property of the city except the project and such bonds or
obligations will not be a charge against the city's general credit or taxing powers but will
be payable from sums to be paid by the Company pursuant to a revenue agreement.
A draft copy of the proposed application to the Minnesota Department of Trade
and Economic Development, State of Minnesota, for approval of the project, together
with all attachments and exhibits thereto, is available for public inspection beginning
September 11, 1995 from 8:00 a.m. to 4:30 p.m., Monday through Friday at City Hall.
At the time and place fixed for the public hearing, the City Council of the City of
Chanhassen will give all persons who appear at the hearing or present their written views
and opportunity to express their views with respect to the proposal.
BY ORDER OF THE CITY COUNCIL
Don Ashworth, City Manager