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1. Review TIF 10-1 for Compliance with the Comprehensive Plan CITY OF CHANHASSEN 7700 Market Boulevard PO Box 147 Chanhassen, MN 55317 Administration Phone: 952.227.1100 Fax: 952.227,1110 Building Inspections Phone: 952.227.1180 Fax: 952.227.1190 . Engineering Phone: 952.227.1160 Fax: 952.227.1170 Finance Phone: 952,227,1140 Fax: 952.227.1110 Park & Recreation Phone: 952,227.1120 Fax: 952.227.1110 Recreation Center 2310 Coulter Boulevard Phone: 952.227,1400 Fax: 952.227.1404 Planning & Natural Resources Phone: 952,227.1130 Fax: 952.227.1110 Public Works 1591 Park Road Phone: 952,227,1300 Fax: 952.227.1310 Senior Center Phone: 952,227,1125 Fax: 952.227.1110 Web Site vwvw.ci .chanhassen. mn, us TO: [!] FROM: Kate Aanenson, Community Development Director Laurie Hokkanen, Assistant City Manager(M^- DATE: {9'~/ March 16,2010 SUBJ: Review Tax Increment Financing Plan No. 10-1 for Compliance with the 2030 Comprehensive Plan PROPOSED MOTION: The Chanhassen Planning Commission adopts the attached Resolution. BACKGROUND The City of Chanhassen is considering implementing a Tax Increment Financing (TIP) District to provide for offset of the assessments placed on Bloomberg Companies in order to facilitate the construction of Chanhassen Station, a 420-stall park-and-ride facility owned and operated by SouthWest Transit. Bloomberg Companies will be able to recoup the amounts assessed against their property to the degree that they create new development and therefore generate increment. As a part of the site plan, the area was replatted. Portions of parcels that were previously included in TIP #4 are being removed in order to be included in TIP #10. One requirement of the TIP process is for the Planning Commission to review the TIP plans to ensure conformance with the City's Comprehensive Plan. The Planning Commission reviewed this project on November 17, 2009 and approved the preliminary plat and site plan. In the approved Findings of Fact, the Planning Commission found: 1. The property is zoned Central Business District (CBD). 2. The property is guided in the Land Use Plan for commercial. 3. The proposed subdivision is consistent of the zoning ordinance. 4. The proposed subdivision is consistent with all applicable city, county, and regional plans including but not limited to the city's comprehensive plan. The Planning Commission's role in this process is to advise the City Council and Economic Development Authority if the TIP plans are consistent with the City's Comprehensive Plan. Based on past actions taken by the Planning Commission, staff believes that this project does meet this requirement. RECOMMENDA TION Staff recommends that the Chanhassen Planning Commission adopt the attached resolution. ATTACHMENTS 1. Resolution. 2. Tax Increment Financing Plan prepared by Ehlers & Assoc. g:\admin\lh\tit\tif #1 0 chan station\pc review plan for compliance with comp plan.doc Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow PLANNING COMMISSION CITY OF CHANHASSEN COUNTIES OF CARVER AND HENNEPIN STATE OF MINNESOTA RESOLUTION NO. 2010-01 RESOLUTION OF THE CITY OF CHANHASSEN PLANNING COMMISSION FINDING THAT A MODIFICATION TO THE REDEVELOPMENT PLAN FOR THE DOWNTOWN CHANHASSEN REDEVELOPMENT PROJECT AREA, MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.4, AND A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 10 CONFORM TO THE GENERAL PLANS FOR THE DEVELOPMENT AND REDEVELOPMENT OF THE CITY WHEREAS, the City of Chanhassen, Minnesota, (the "City") has proposed to adopt a Modification to the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area (the "Redevelopment Plan Modification"), a Modification to the Tax Increment Financing Plan for Tax Increment Financing District No.4 (the "TIP Plan Modification"), reflecting the removal of parcels, and a Tax Increment Financing Plan for Tax Increment Financing District No. 10 (the "TIP Plan") therefore (the Redevelopment Plan Modification, the TIP Plan Modification, and the TIF Plan are referred to collectively herein at the "Plans") and has submitted the Plans to the City Planning Commission (the "Commission") pursuant to Minnesota Statutes, Section 469.175, Subd. 3, and WHEREAS, the Commission has reviewed the Plans to determine their conformity with the general plans for the development and redevelopment of the City as described in the comprehensive plan for the City. NOW, THEREFORE, BE IT RESOLVED by the Commission that the Plans conform to the general plans for the development and redevelopment of the City as a whole. Dated: March 16,2010 Chair ATTEST: Secretary g:\admin\lh\tif\tif#1O chan station\res_planning commission. doc ------- ~ As of March 8,2010 Draft for Planning Commission Review Modification to the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area and the Modification to the Tax Increment financing Plan for Tax Increment Financing District No.4 (a redevelopment district) and the Tax Increment Financing Plan for the establishment of Tax Increment Financing District No. 10 (a redevelopment district) both located within the Downtown Chanhassen Redevelopment Project Area Chanhassen Economic Development Authority City of Chanhassen Carver County State of Minnesota Public Hearing: April 12, 20 I 0 Adopted: . EHLERS Prepared by: EHLERS & ASSOCIATES, INC. 3060 Centre Pointe Drive, Roseville, Minnesota 55113-1105 651-697-8500 fax: 651-697-8555 www.ehlers-inc.com Table of Contents (for reference purposes only) Section 1 - Modification to the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area . . . . . . . . . . . . . . . . .. 1-1 Foreword ............................................................. 1-1 Section 2 - Modification to the Tax Increment Financing Plan for Tax Increment Financing District No.4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2-1 Section 3 - Tax Increment Financing Plan for Tax Increment Financing District No. 10 ................................ 3-1 Subsection 3-1. Foreword............................................... 3-1 Subsection 3-2. Statutory Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-1 Subsection 3-3. Statement of Objectives ................................... 3-1 Subsection 3-4. Redevelopment Plan Overview... .. . . . . .. . . . . . .. . . .. .. " . . .. 3-1 Subsection 3-5. Description of Property in the District and Property To Be Acquired . 3-2 Subsection 3-6. Classification of the District . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-2 Subsection 3-7. Duration and First Year of Tax Increment of the District. . . . . . . . . .. 3-4 Subsection 3-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Valuellncrement and Notification of Prior Planned Improvements. . . . . . . . . . . . . . .. 3-4 Subsection 3-9. Sources of Revenue/Bonds to be Issued ...................... 3-5 Subsection 3-10. Uses of Funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-6 Subsection 3-11. Fiscal Disparities Election . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-7 Subsection 3-12. Business Subsidies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-7 Subsection 3-13. County Road Costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-8 Subsection 3-14. Estimated Impact on Other Taxing Jurisdictions. . . . . . . . . . . . . . . .. 3-9 Subsection 3-15. Supporting Documentation ................................ 3-10 Subsection 3-16. Definition of Tax Increment Revenues ....................... 3-11 Subsection 3-17. Modifications to the District . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-11 Subsection 3-18. Administrative Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-12 Subsection 3-19. Limitation of Increment ................................... 3-13 Subsection 3-20. Use of Tax Increment .................................... 3-13 Subsection 3-21. Excess Increments ...................................... 3-14 Subsection 3-22. Requirements for Agreements with the Developer . . . . . . . . . . . . .. 3-14 Subsection 3-23. Assessment Agreements ................................. 3-15 Subsection 3-24. Administration of the District. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-15 Subsection 3-25. Annual Disclosure Requirements ........................... 3-15 Subsection 3-26. Reasonable Expectations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-15 Subsection 3-27. Other Limitations on the Use of Tax Increment. . . . . . . . . . . . . . . .. 3-15 Subsection 3-28. Summary.............................................. 3-16 Appendix A Project Description ...................................................... A-1 Appendix B Maps of the Downtown Chanhassen Redevelopment Project Area and the District .... B-1 Appendix C Description of Property to be Included in the District . . . . . . . . . . . . . . . . . . . . . . . . . . .. C-1 Appendix D Estimated Cash Flow for the District ........................................ D-1 Appendix E Minnesota Business Assistance Form ....................................... E-1 Appendix F Redevelopment Qualifications for the District . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. F-1 Appendix G Findings Including But/For Qualifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. G-1 Appendix H Prior Planned Improvements .............................................. H-1 Section 1 - Modification to the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area Foreword The following text represents a Modification to the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area. This modification represents a continuation of the goals and objectives set forth in the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area. Generally, the substantive changes include the establishment of Tax Increment Financing District No. 10. For further information, a review of the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area is recommended. It is available from the City Manager at the City of Chanhassen. Other relevant information is contained in the Tax Increment Financing Plans for the Tax Increment Financing Districts located within the Downtown Chanhassen Redevelopment Project Area. Chanhassen Economic Development Authority Modification to the Tax Increment Financing Plan for Tax Increment Financing District No.4 1-1 Section 2 - Modification to the Tax Increment Financing Plan for Tax Increment Financing District No.4 Parcels to be Included in Tax Increment Financing District No.4 (As Modified on April 12, 2010) The following property and all adjacent rights-of-way identified by the parcel numbers listed below are certified in Tax Increment Financing District No.4. These parcels are being removed from Tax Increment Financing District No.4 and will be included in Tax Increment Financing District No. 10. Old Parcel Numbers: 25-0130700 25-2830030 (The parcel numbers have been retired due to a new plat and split.) New Parcel Numbers: 25-1680040 25-1680060 25-2830031 Chanhassen Economic Development Authority Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 4 2-1 Section 3 - Tax Increment Financing Plan for Tax Increment Financing District No. 10 Subsection 3-1. Foreword The Chanhassen Economic Development Authority (the "EDA"), the City ofChanhassen (the "City"), staff and consultants have prepared the following information to expedite the establishment of Tax Increment Financing District No. 10 (the "District"), a redevelopment tax increment fInancing district, located in the Downtown Chanhassen Redevelopment Project Area. Subsection 3-2. Statutory Authority Within the City, there exist areas where public involvement is necessary to cause development or redevelopment to occur. To this end, the EDA and City have certain statutory powers pursuant to Minnesota Statutes ("MS.'J, Sections 469.090 to 469.1082, inclusive, as amended, and MS., Sections 469.174 to 469.1799, inclusive, as amended (the "Tax Increment Financing Act" or "TIF Act"), to assist in fmancing public costs related to this project. This section contains the Tax Increment Financing Plan (the "TIF Plan") for the District. Other relevant information is contained in the ModifIcation to the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area. Subsection 3-3. Statement of Objectives The District currently consists of seven parcels ofland and adjacent and internal rights-of-way. The District is being created to facilitate a new development of approximately 50 units of housing and 10,000 square feet of retail in Downtown Chanhassen and the construction of public improvements adjacent to the park and ride facility for SouthWest Transit and the Chanhassen Dinner Theater site. Parcels are being removed from Tax Increment Financing District No.4 in order to create a portion ofTIF District No. 10. Please see Appendix A for further District information. The EDA intends to enter into respective agreements with Bloomberg Companies and SouthWest Transit. This TIF Plan is expected to achieve many of the objectives outlined in the Redevelopment Plan for the Downtown Chanhassen Redevelopment Project Area. The activities contemplated in the ModifIcation to the Redevelopment Plan and the TIF Plan do not preclude the undertaking of other qualifIed development or redevelopment activities. These activities are anticipated to occur over the life of the Downtown Chanhassen Redevelopment Project Area and the District. Subsection 3-4. Redevelopment Plan Overview I. Property to be Acquired - Selected property located within the District may be acquired by the EDA or City and is further described in this TIF Plan. 2. Relocation - Relocation services, to the extent required by law, are available pursuant to MS., Chapter 117 and other relevant state and federal laws. 3. Upon approval of a developer's plan relating to the project and completion of the necessary legal requirements, the EDA or City may sell to a developer selected properties that it may acquire within the District or may lease land or facilities to a developer. 4. The EDA or City may perform or provide for some or all necessary acquisition, construction, relocation, demolition, and required utilities and public street work within the District. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-1 Subsection 3-5. Description of Property in the District and Property To Be Acquired The District encompasses all property and adjacent rights-of-way and abutting roadways identified by the parcels listed in Appendix C of this TIF Plan. Please also see the map in Appendix B for further information on the location of the District. The EDA or City may acquire any parcel within the District including interior and adjacent street rights of way. Any properties identified for acquisition will be acquired by the EDA or City only in order to accomplish one or more of the following: storm sewer improvements; provide land for needed public streets, utilities and facilities; carry out land acquisition, site improvements, clearance and/or development to accomplish the uses and objectives set forth in this plan. The EDA or City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when there is assurance of funding to finance the acquisition and related costs. Subsection 3-6. Classification of the District The EDA and City, in determining the need to create a tax increment financing district in accordance with MS., Sections 469.174 to 469.1799, as amended, inclusive, fmd that the District, to be established, is a redevelopment district pursuant to MS., Section 469.174, Subd. 10(a)(l) as defined below: (a) "Redevelopment district" means a type of tax increment financing district consisting of a project, or portions of a project, within which the authority finds by resolution that one or more of the following conditions, reasonably distributed throughout the district, exists: (1) parcels consisting of70 percent of the area in the district are occupied by buildings, streets, utilities, paved or gravel parking lots or other similar structures and more than 50 percent of the buildings, not including outbuildings, are structurally substandard to a degree requiring substantial renovation or clearance; (2) The property consists of vacant, unused, underused, inappropriately used, or infrequently used rail yards, rail storage facilities or excessive or vacated railroad rights-ol-way; (3) tankfacilities, or property whose immediately previous use was for tankfacilities, as defined in Section 115e, Subd. 15, if the tank facility: (i) have or had a capacity of more than one million gallons; (ii) are located adjacent to rail facilities; or (iii) have been removed, or are unused, underused, inappropriately used or infrequently used; or (4) a qualifying disaster area, as defined in Subd. lOb. (b) For purposes of this subdivision, ''structurally substandard" shall mean containing defects in structural elements or a combination of deficiencies in essential utilities and facilities, light and ventilation, fire protection including adequate egress, layout and condition of interior partitions, or similar factors, which defects or deficiencies are of sufficient total significance to justify substantial renovation or clearance. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-2 (c) A building is not structurally substandard ifit is in compliance with the building code applicable to new buildings or could be modified to satisfY the building code at a cost of less than 15 percent of the cost of constructing a new structure of the same square footage and type on the site. The municipality may find that a building is not disqualified as structurally substandard under the preceding sentence on the basis of reasonably available evidence, such as the size, type, and age of the building, the average cost of plumbing, electrical, or structural repairs or other similar reliable evidence. The municipality may not make such a determination without an interior inspection of the property, but need not have an independent, expert appraisal prepared of the cost of repair and rehabilitation of the building. An interior inspection of the property is not required, if the municipality finds that (1) the municipality or authority is unable to gain access to the property after using its best efforts to obtain permissionfrom the party that owns or controls the property; and (2) the evidence otherwise supports a reasonable conclusion that the building is structurally substandard. (d) A parcel is deemed to be occupied by a structurally substandard building for purposes of the finding under paragraph (a) or by the improvement described in paragraph (e) if all of the following conditions are met: (1) the parcel was occupied by a substandard building or met the requirements of paragraph (e), as the case may be, within three years of the filing of the request for certification of the parcel as part of the district with the county auditor; (2) the substandard building or the improvements described in paragraph (e) were demolished or removed by the authority or the demolition or removal was financed by the authority or was done by a developer under a development agreement with the authority; (3) the authority found by resolution before the demolition or removal that the parcel was occupied by a structurally substandard building or met the requirement of paragraph (e) and that after demolition and clearance the authority intended to include the parcel within a district; and (4) upon filing the request for certification of the tax capacity of the parcel as part of a district, the authority notifies the county auditor that the original tax capacity of the parcel must be adjusted as provided by ~ 469.177, subdivision 1, paragraph (f). (e) For purposes of this subdivision, a parcel is not occupied by buildings, streets, utilities, paved or gravel parking lots or other similar structures unless 15 percent of the area of the parcel contains buildings, streets, utilities, paved or gravel parking lots or other similar structures. (f) For districts consisting of two or more noncontiguous areas, each area must qualify as a redevelopment district under paragraph (a) to be included in the district, and the entire area of the district must satisfY paragraph (a). In meeting the statutory criteria the EDA and City rely on the following facts and fmdings: · The District is a redevelopment district consisting of seven parcels. · An inventory shows that parcels consisting of more than 70 percent of the area in the District are occupied by buildings, streets, utilities, paved or gravel parking lots or other similar structures. · An inspection of the buildings located within the District fmds that more than 50 percent of the buildings are structurally substandard as defined in the TIF Act. (See Appendix F). Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-3 Pursuant to MS., Section 469.176, Subd. 7, the District does not contain any parcel or part ofa parcel that qualified under the provisions of MS., Sections 273.111 or 273.112 or Chapter 473H for taxes payable in any of the five calendar years before the filing of the request for certification of the District. Subsection 3-7. Duration and First Year of Tax Increment of the District Pursuant toMS., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration and first year of tax increment of the District must be indicated within the TIF Plan. Pursuantto MS., Section 469.176, Subd. 1 b., the duration of the District will be 25 years after receipt of the first increment by the EDA or City (a total of 26 years of tax increment). The EDA or City elects to receive the first tax increment in 2013, which is no later than four years following the year of approval of the District. Thus, it is estimated that the District, including any modifications of the TIF Plan for subsequent phases or other changes, would terminate after 2038, or when the TIF Plan is satisfied. The EDA or City reserves the right to decertify the District prior to the legally required date. Subsection 3-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Valuellncrement and Notification of Prior Planned Improvements Pursuant to MS., Section 469.174, Subd. 7 and MS., Section 469.177, Subd. 1, the Original Net Tax Capacity (ONTC) as certified for the District will be based on the market values placed on the property by the assessor in 2009 for taxes payable 2010. Pursuant to MS., Section 469.177, Subds. 1 and 2, the County Auditor shall certify in each year (beginning in the payment year 2013) the amount by which the original value has increased or decreased as a result of: 1. Change in tax exempt status of property; 2. Reduction or enlargement of the geographic boundaries of the district; 3. Change due to adjustments, negotiated or court-ordered abatements; 4. Change in the use of the property and classification; 5. Change in state law governing class rates; or 6. Change in previously issued building permits. In any year in which the current Net Tax Capacity (NTC) value of the District declines below the ONTC, no value will be captured and no tax increment will be payable to the EDA or City. The origina11ocal tax rate for the District will be the local tax rate for taxes payable 2010, assuming the request for certification is made before June 30, 2010. The ONTCand the Original Local Tax Rate for the District appear in the table on the following page. Pursuant to MS., Section 469.174 Subd. 4 and MS., Section 469.177, Subd. 1, 2, and 4, the estimated Captured Net Tax Capacity (CTC) of the District, within the Downtown Chanhassen Redevelopment Project Area, upon completion of the projects within the District, will annually approximate tax increment revenues as shown in the table on the following page. The EDA and City request 100 percent of the available increase in tax capacity for repayment of its obligations and current expenditures, beginning in the tax year payable 2013. The Project Tax Capacity (pTC) listed is an estimate of values when the projects within the District are completed. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-4 Project Estimated Tax Capacity upon Completion (pTC) Original Estimated Net Tax Capacity (ONTC) Fiscal Disparities Reduction Estimated Captured Tax Capacity (CTC) $331,097 $80,848 $23,933 $226,316 Original Local Tax Rate 1.07324 Estimated Pay 2010 Estimated Annual Tax Increment (CTC x Local Tax Rate) $242,891 Percent Retained by the EDA 1000/0 *Tax cap.acity includes a 2% inflation factor for the duration of the District. The tax caI!~city included in this chart is the estimated tax capacity of the District in year 25. The tax capacity of the District in year one is estimated to be $111,063. Pursuant to M.S., Section 469.177, Subd. 4, the EDA shall, after a due and diligent search, accompany its request for certification to the County Auditor or its notice of the District enlargement pursuant to M.S., Section 469.175, Subd. 4, with a listing of all properties within the District or area of enlargement for which building permits have been issued during the eighteen (18) months immediately preceding approval of the TIP Plan by the municipality pursuant to M.S., Section 469.175, Subd. 3. The County Auditor shall increase the original net tax capacity of the District by the net tax capacity of improvements for which a building permit was issued. The City has reviewed the area to be included in the District and has found building permits that were issued in the past 18 months prior to the public hearing. Please see Appendix H for the building permits that were issued. Subsection 3-9. Sources of Revenue/Bonds to be Issued The costs outlined in the Uses of Funds will be financed primarily through the annual collection of tax increments. The EDAm City reserves the right to incur bonds or other indebtedness as a result of the TIF Plan. As presently proposed, the projects within the District will be financed by a pay-as-you-go note/interfund loan. Additional indebtedness may be required to finance other authorized activities. The total principal amount of notes to be issued, or other indebtedness related to the use of tax increment fmancing, will not exceed 1,800,000 without a modification to the TIF Plan pursuant to applicable statutory requirements. It is estimated that $1 ,400,000 in interfund loans will be financed with tax increment revenues. It is estimated that $1,000,000 in pay-as-you go notes will be financed with tax increment revenues. Any refunding amounts will be deemed a budgeted cost without a formal TIF Plan Modification. This provision does not obligate the EDA or City to incur debt. The EDA or City will issue bonds or incur other debt only upon the determination that such action is in the best interest of the City. The EDA or City may also finance the activities to be undertaken pursuant to the TIF Plan through loans from funds of the EDA or City or to reimburse the developer on a "pay-as-you-go" basis for eligible costs paid for by a developer. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-5 The total estimated tax increment revenues for the District are expected to be approximately $4,400,000, as shown in the table below: SOURCES OF FUNDS TOTAL $4,400,000 Tax Increment The EDA or City may issue bonds (as defmed in the TIP Act) secured in whole or in part with tax increments from the District in a maximum principal amount of$2,400,000. Such bonds may be in the form of pay- as- you go notes, revenue bonds or notes, general obligation bonds, or interfund loans. This estimate of total bonded indebtedness is a cumulative statement of authority under this TIF Plan as of the date of this modification. Subsection 3-10. Uses of Funds Currently under consideration for the District is a proposal to facilitate the new development of approximately 50 units of housing and 10,000 square feet of retail in Downtown Chanhassen and the construction of public improvements adjacent to the park and ride facility for SouthWest Transit and the Chanhassen Dinner Theater site. The EDA and City have determined that it will be necessary to provide assistance to the projects for certain District costs, as described. The EDA has studied the feasibility of the development orredevelopment of property in and around the District. To facilitate the establishment and development or redevelopment of the District, this TIP Plan authorizes the use of tax increment financing to pay for the cost of certain eligible expenses. The estimate of public costs and uses of funds associated with the District is outlined in the following table. USES OF TAX INCREMENT FUNDS TOTAL LandlBuilding Acquisition $800,000 Site Improvements/Preparation $60,000 Public Utilities $500,000 Public Parking Facilities $100,000 Streets and Sidewalks $500,000 Administrative Costs (UD to 10%) $440.000 PROJECT COST TOTAL $2,400,000 Interest $2.000.000 PROJECT AND INTEREST COSTS TOTAL $4,400,009 For purposes of OSA reporting forms, uses of funds include interfund loans, bond principal, TIF Note principal, and transfers, all in the principal amount of $2,400,000. These amounts are not cumulative, but represent the various forms of "bonds " included within the concept of bonded indebtedness under the TIF Act. The total project cost, including fmancing costs (interest) listed in the table above does not exceed the total projected tax increments for the District as shown in Appendix D. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing DIstrict No. 10 3-6 Estimated costs associated with the District are subject to change among categories without a modification to this TIF Plan. The cost of all activities to be considered for tax increment fmancing will not exceed, without formal modification, the budget above pursuant to the applicable statutory requirements. Pursuant to MS., Section 469.1763, Subd. 2, no more than 25 percent of the tax increment paid by property within the District will be spent on activities related to development or redevelopment outside of the District but within the boundaries of the Downtown Chanhassen Redevelopment Project Area, (including administrative costs, which are considered to be spent outside of the District) subject to the limitations as described in this TIF Plan. Subsection 3-11. Fiscal Disparities Election Pursuant to MS., Section 469.177, Subd. 3, the EDA or City may elect one of two methods to calculate fiscal disparities. If the calculations pursuant to MS., Section 469.177, Subd. 3, clause b, (within the District) are followed, the following method of computation shall apply: (1) The original net tax capacity shall be determined before the application of the fiscal disparity provisions of Chapter 276A or 473F. The current net tax capacity shall exclude any fiscal disparity commercial-industrial net tax capacity increase between the original year and the current year multiplied by the fiscal disparity ratio determined pursuant to MS., Section 276A.06, subdivision 7 or MS., Section 473F.08, subdivision 6. Where the original net tax capacity is equal to or greater-than the current nettax capacity, there is no captured tax capacity and no tax increment determination. Where the original tax capacity is less than the current tax capacity, the difference between the original net tax capacity and the current net tax capacity is the captured net tax capacity. This amount less any portion thereof which the authority has designated, in its tax increment financing plan, to share with the local taxing districts is the retained captured net tax capacity of the authority. (2) The county auditor shall exclude the retained captured net tax capacity of the authority from the net tax capacity of the local taxing districts in determining local taxing district tax rates. The local tax rates so determined are to be extended against the retained captured net tax capacity of the authority as well as the net tax capacity of the local taxing districts. The tax generated by the extension of the less of (A) the local taxing district tax rates or (B) the original local tax rate to the retained captured net tax capacity of the authority is the tax increment of the authority. The EDA win choose to calculate fIScal disparities by clause b. According to MS., Section 469.177, Subd. 3: (c) The method of computation of tax increment applied to a district pursuant to paragraph (a) or (b) shall remain the same for the duration of the district, except that the governing body may elect to change its election from the method of computation in paragraph (a) to the method in paragraph (b). Subsection 3-12. Business Subsidies Pursuant to MS., Section 116.1.993, Subd. 3, the following forms of fmancial assistance are not considered a business subsidy: (1) A business subsidy ofless than $150,000; (2) Assistance that is generally available to all businesses or to a general class of similar businesses, Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-7 such as a line of business, size, location, or similar general criteria; (3) Public improvements to buildings or lands owned by the state or local government that serve a public purpose and do not principally benefit a single business or defmed group of businesses at the time the improvements are made; (4) Redevelopment property polluted by contaminants as defmed in MS., Section 116./.552, Subd. 3; (5) Assistance provided for the sole purpose of renovating old or decaying building stock or bringing it up to code and assistance provided for designated historic preservation districts, provided that the assistance is equal to or less than 50% of the total cost; (6) Assistance to provide job readiness and training services if the sole purpose of the assistance is to provide those services; (7) Assistance for housing; (8) Assistance for pollution control or abatement, including assistance for a tax increment fmancing hazardous substance subdistrict as defmed under MS., Section 469.174, Subd. 23; (9) Assistance for energy conservation; (10) Tax reductions resulting from conformity with federal tax law; (11) Workers' compensation and unemployment compensation; (12) Benefits derived from regulation; (13) Indirect benefits derived from assistance to educational institutions; (14) Funds from bonds allocated under chapter 474A, bonds issued to refund outstanding bonds, and bonds issued for the benefit of an organization described in section 501 (c) (3) of the Internal Revenue Code of 1986, as amended through December 31, 1999; (15) Assistance for a collaboration between a Minnesota higher education institution and a business; (16) Assistance for a tax increment fmancing soils condition district as defmed under MS.; Section 469.174, Subd. 19; (17) Redevelopment when the recipient's investment in the purchase of the site and in site preparation is 70 percent or more of the assessor's current year's estimated market value; (18) General changes in tax increment fmancing law and other general tax law changes of a principally technical nature. (19) Federal assistance until the assistance has been repaid to, and reinvested by, the state or local government agency; (20) Funds from dock and wharf bonds issued by a seaway port authority; (21) Business loans and loan guarantees of$150,OOO or less; and (22) Federal loan funds provided through the United States Department of Commerce, Economic Development Administration. The EDA will comply with MS., Sections 116./.993 to 116./.995 to the extent the tax increment assistance under this TIF Plan does not fall under any of the above exemptions. Subsection 3~13. County Road Costs Pursuant to MS., Section 469.175, Subd. 1 a, the county board may require the EDA or City to pay for all or part of the cost of county road . improvements if the proposed development to be assisted by tax increment will, in the judgment of the county, substantially increase the use of county roads requiring construction of road improvements or other road costs and if the road improvements are not scheduled within the next five years under a capital improvement plan or within five years under another county plan. If the county elects to use increments to improve county roads, it must notify the EDA or City within forty- five days of receipt of this TIF Plan. In the opinion of the EDA and City and consultants, the proposed development outlined in this TIF Plan will have little or no impact upon county roads, therefore the TIF Plan Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-8 was not forwarded to the county 45 days prior to the public hearing. The EDA and City are aware that the county could claim that tax increment should be used for county roads, even after the public hearing. Subsection 3-14. Estimated Impact on Other Taxing Jurisdictions The estimated impact on other taxing jurisdictions assumes that the redevelopment contemplated by the TIF Plan would occur without the creation of the District. However, the EDA or City has determined that such development or redevelopment would not occur "but for" tax increment fmancing and that, therefore, the fiscal impact on other taxing jurisdictions is $0. The estimated fiscal impact of the District would be as follows if the "but for" test was not met: IMPACT ON TAX BASE Estimated Estimated Captured 2009/Pay 2010 Tax Capacity (CTC) Percent of CTC Total Net Uoon Comvletion to Entitv Total Tax Caoacitv Carver County 123,367,550 226,316 0.1834010 City ofChanhassen 39,766,844 226,316 0.5691 % Eastern Carver County ISD 72,060,036 226,316 0.3141% No. 112 IMPACT ON TAX RATES Estimated Percent Potential Pay 2010 of Total CTC Taxes Extension Rates Carver County 0.395970 36.89010 226,316 89,614 City of Chanhassen 0.254330 23.70% 226,316 57,559 Eastern Carver County ISD 0.365690 34.07% 226,316 82,761 No. 112 Other 0.057250 5.33% 226.316 12.957 Total 1.073240 100.00% 242,891 The estimates listed above display the captured tax capacity when all construction is completed. The tax rate used for calculations is the estimated Pay 2010 rate. The total net capacity for the entities listed above are based on estimated Pay 20 I 0 figures. The District will be certified under the actual Pay 20 I 0 rates, which were unavailable at the time this TIF Plan was prepared. Pursuant to MS. Section 469.175 Subd. 2(b): (1) Estimate of total tax increment. It is estimated that the total amount of tax increment that will be generated over the life of the District is $4,420,000; (2) Probable imoact of the District on city orovided services and ability to issue debt. An impact of the District on police protection is expected. The City currently contracts with the Carver County Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing DlsIrict No. 10 3-9 Sheriffs Office for police services. Retail development does usually bring a small increase in police services for minor theft and similar calls. The retail development is expected to be no more than 10,000 square feet, so the impact should be minor. A similar existing ramp has had 21 for service since 2008. The City does not expect that the proposed development, in and of itself, will necessitate new capital investment in vehicles or require that the City expand its contract with Carver County. The probable impact of the District on fire protection is not expected to be significant. The new construction of retail and apartments are expected to have modem fire suppression design. A similar existing parking ramp has been operational for approximately two years and there have been no calls for service. The impact of the District on public infrastructure is expected to be minimal. The retail and housing development is not expected to significantly impact any traffic movements in the area. The current infrastructure for sanitary sewer, storm sewer and water will be able to handle the additional volume generated from the proposed development. Street maintenance costs are not expected for 20-40 years. Based on the development plans, there are no additional costs associated with sweeping, plowing, lighting and sidewalks, as SouthWest Transit will be responsible for them. Lighting operating costs are estimated to be at $700.00/year. Sanitary sewer (SAC) and water (WAC) fees are yet to be determined. The probable impact of any District general obligation tax increment bonds on the ability to issue debt for general fund purposes is expected to be minimal. It is not anticipated that there will be any general obligation debt issued in relation to this project, therefore there will be no impact on the City's ability to issue future debt or on the City's debt limit. (3) Estimated amount of tax increment attributable to school district levies. It is estimated that the amount of tax increments over the life of the District that would be attributable to school district levies, assuming the school district's share of the total local tax rate for all taxing jurisdictions remained the same is $767,806; (4) Estimated amount of tax increment attributable to county levies. It is estimated that the amount of tax increments over the life of the District that would be attributable to county levies, assuming the county's share of the total local tax rate for all taxing jurisdictions remained the same is $831,402; (5) Additional information reauested bv the county or school district. The City is not aware of any standard questions in a county or school district written policy regarding tax increment districts and impact on county or school district services. The county or school district must request additional information pursuant to MS. Section 469.175 Subd. 2(b) within IS days after receipt of the tax increment financing plan. No requests for additional information from the county or school district regarding the proposed development for the District have been received. Subsection 3-15. Supporting Documentation Pursuant to MS. Section 469.175, Subd. 1 (a), clause 7 the TlF Plan must contain identification and description of studies and analyses used to make the fmdings are required in the resolution approving the District. Following is a list of reports and studies on file at the City that support the EDA and City's findings: · Report of Inspection Procedures and Results for Determining Qualifications of a Tax Increment Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing DIstrict No. 10 3-10 Financing District as a Redevelopment District, Cbanhassen Dinner Theater TIF District, LHB, Inc., March 24, 2009 · Downtown Transit Station Site Improvements, Feasibility Study and Report, Kimley-Hom and Associates, Inc., March, 2009 · Amendment # I to the Downtown Transit Station Site Improvements, Feasibility Study and Report, Kimley-Hom and Associates, Inc., October 30, 2009 · Park & Ride Analysis, SouthWest Transit, 2006 · Federal CMAQ/STP Funding Application - Tmnsit Expansion, 2005 · SouthWest Metro Transit Park & Ride Study, LSA Design, Inc., June 2003 · Project Memorandum for Minnesota Project No. SP 91-080-06 CMAQ 1010 (SouthWest Tmnsit, Chanhassen Station), Hay Dobbs, P.A., 2010 Subsection 3-16. Definition of Tax Increment Revenues Pursuant to MS., Section 469.174, Subd. 25, tax increment revenues derived from a tax increment fmancing district include all of the following potential revenue sources: 1. Taxes paid by the capturednettax capacity, but excluding any excess taxes, as computed under MS., Section 469.177; 2. The proceeds from the sale or lease of property, tangible or intangible, to the extent the property was purchased by the Authority with tax increments; 3. Principal and interest received on loans or other advances made by the Authority with tax increments; 4. Interest or other investment earnings on or from tax increments; 5. Repayments or return of tax increments made to the Authority under agreements for districts for which the request for certification was made after August I, 1993; and 6. The market value homestead credit paid to the Authority under MS., Section 273.1384. Subsection 3-17. Modifications to the District In accordance with MS., Section 469.175, Subd. 4, any: I. Reduction or enlargement of the geographic area of the District, if the reduction does not meet the requirements of MS., Section 469.175, Subd. 4(e); 2. Increase in amount of bonded indebtedness to be incurred; 3. A determination to capitalize interest on debt if that determination was not a part of the original TIF Plan; 4. Increase in the portion of the captured net tax capacity to be retained by the EDA or City; 5. Increase in the estimate of the cost of the District, including administrative expenses, that will be paid or fmanced with tax increment from the District; or 6. Designation of additional property to be acquired by the EDA or City, shall be approved upon the notice and after the discussion, public hearing and fmdings required for approval of the original TIF Plan. Pursuant to MS. Section 469.175 Subd. 4(f), the geographic area of the District may be reduced, but shall not be enlarged after five years following the date of certification of the original net tax capacity by the county auditor. If a redevelopment district is enlarged, the reasons and supporting facts for the determination that the addition to the district meets the criteria of MS., Section 469.174, Subd. 10, pamgmph (a), clauses (l) to (5), must be documented in writing and retained. The requirements of this pamgraph do not apply if (1) the only modification is elimination ofparcel(s) from the District and (2) (A) the current net tax capacity of the Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-11 parcel( s) eliminated from the District equals or exceeds the net tax capacity of those parcel( s) in the District's original net tax capacity or (B) the EDA agrees that, notwithstanding MS., Section 469.177, Subd. 1, the original net tax capacity will be reduced by no more than the current net tax capacity of the parcel(s) eliminated from the District. The EDA or City must notify the County Auditor of any modification that reduces or enlarges the geographic area of the District. Modifications to the District in the form of a budget modification or an expansion of the boundaries will be recorded in the TIF Plan. Subsection 3-18. Administrative Expenses In accordance with MS., Section 469.174, Subd. 14, administrative expenses means all expenditures of the EDA or City, other than: 1. Amounts paid for the purchase ofland; 2. Amounts paid to contractors or others providing materials and services, including architectural and engineering services, directly connected with the physical development of the real property in the District; 3. Relocation benefits paid to or services provided for persons residing or businesses located in the District; or 4. Amounts used to pay principal or interest on, fund a reserve for, or sell at a discount bonds issued pursuant to MS., Section 469.178; or 5. Amounts used to pay other financial obligations to the extent those obligations were used to fmance costs described in clauses (I) to (3). For districts for which the request for certification were made before August I, 1979, or after June 30, 1982, and before August I, 200 I, administrative expenses also include amounts paid for services provided by bond counsel, fiscal consultants, and planning or economic development consultants. Pursuant to MS., Section 469.176, Subd. 3, tax increment may be used to pay any authorized and documented administrative expenses for the District up to but not to exceed 10 percent of the total estimated tax increment expenditures authorized by the TIF Plan or the total tax increments, as defined by MS., Section 469.174, Subd. 25, clause (1), from the District, whichever is less. For districts for which certification was requested after July 31, 200 I, no tax increment may be used to pay any administrative expenses for District costs which exceed ten percent of total estimated tax increment expenditures authorized by the TIF Plan or the total tax increments, as defmed inMS., Section 469.174, Subd. 25, clause (1), from the District, whichever is less. Pursuant to MS., Section 469.176, Subd. 4h, tax increments may be used to pay for the County's actual administrative expenses incurred in connection with the District and are not subject to the percentage limits of MS., Section 469.176, Subd. 3. The county may require payment of those expenses by February 15 of the year following the year the expenses were incurred Pursuant to MS., Section 469. 177, Subd. 11, the County Treasurer shall deduct an amount (currently .36 percent) of any increment distributed to the EDA or City and the County Treasurer shall pay the amount deducted to the State Treasurer for deposit in the state general fund to be appropriated to the State Auditor for the cost of financial reporting of tax increment fmancing information and the cost of examining and auditing authorities' use of tax increment fmancing. This amount may be adjusted annually by the Commissioner of Revenue. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-12 Subsection 3-19. Limitation of Increment The tax increment pledged to the payment of bonds and interest thereon may be discharged and the District may be terminated if sufficient funds have been irrevocably deposited in the debt service fund or other escrow account held in trust for all outstanding bonds to provide for the payment of the bonds at maturity or redemption date. Pursuant toMS., Section 469.176, Subd. 6: if, after four years from the date of certification of the original net tax capacity of the tax increment financing district pursuant to MS., Section 469.177, no demolition, rehabilitation or renovation of property or other site preparation, including qualified improvement of a street adjacent to a parcel but not installation of utility service including sewer or water systems, has been commenced on a parcel located within a tax increment financing district by the authority or by the owner of the parcel in accordance with the tax incrementfinancing plan. no additional tax increment may be taken from that parcel and the original net tax capacity of that parcel shall be excluded from the original net tax capacity of the tax increment financing district. If the authority or the owner of the parcel subsequently commences demolition, rehabilitation or renovation or other site preparation on that parcel including qualified improvement of a street adjacent to that parcel, in accordance with the tax incrementfinancingplan, the authority shall certifY to the county auditor that the activity has commenced and the county auditor shall certifY the net tax capacity thereof as most recently certified by the commissioner of revenue and add it to the original net tax capacity of the tax increment financing district. The county auditor must enforce the provisions of this subdivision. The authority must submit to the county auditor evidence that the required activity has taken place for each parcel in the district. The evidence for a parcel must be submitted by February 1 of the fifth year following the year in which the parcel was certified as included in the district. For purposes of this subdivision, qualified improvements of a street are limited to (1) construction or opening of a new street, (2) relocation of a street, and (3) substantial reconstruction or rebuilding of an existing street. The EDA or City or a property owner must improve parcels within the District by approximately April 20 14 and report such actions to the County Auditor. Subsection 3-20. Use of Tax Increment The EDA or City hereby determines that it will use 100 percent of the captured net tax capacity of taxable property located in the District for the following purposes: 1. To pay the principal of and interest on bonds issued to finance a project; 2. To finance, or otherwise pay the cost of redevelopment of the Downtown Chanhassen Redevelopment Project Area pursuant to MS., Sections 469.090 to 469.1082; 3. To pay for project costs as identified in the budget set forth in the TIF Plan; 4. To finance, or otherwise pay for other purposes as provided in MS., Section 469.176, Subd. 4; 5. To pay principal and interest on any loans, advances or other payments made to or on behalf of the EDA or City or for the benefit of the Downtown Chanhassen Redevelopment Project Area by a developer; 6. To finance or otherwise pay premiums and other costs for insurance or other security guaranteeing the payment when due of principal of and interest on bonds pursuant to the TIF Plan or pursuant to MS., Chapter 462C. MS., Sections 469.152 through 469.165, and/or MS., Sections 469.178; and Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-13 7. To accumulate or maintain a reserve securing the payment when due of the principal and interest on the tax increment bonds or bonds issued pursuant to MS., Chapter 462C, MS., Sections 469.152 through 469.165, and/or MS., Sections 469.178. These revenues shall not be used to circumvent any levy limitations applicable to the City nor for other purposes prohibited by MS., Section 469.176, Subd. 4. Tax increments generated in the District will be paid by Carver County to the EDA for the Tax Increment Fund of said District. The EDA or City will pay to the developer(s) annually an amount not to exceed an amount as specified in a developer's agreement to reimburse the costs of land acquisition, public improvements, demolition and relocation, site preparation, and administration. Remaining increment funds will be used for EDA or City administration (up to 10 percent) and the costs of public improvement activities outside the District. Subsection 3-21. Excess Increments Excess increments, as defmed in MS., Section 469.176, Subd. 2, shall be used only to do one or more of the followmg: 1. Prepay any outstanding bonds; 2. Discharge the pledge of tax increment for any outstanding bonds; 3. Pay into an escrow account dedicated to the payment of any outstanding bonds; or 4. Return the excess to the County Auditor for redistribution to the respective taxing jurisdictions in proportion to their local tax rates. The EDA or City must spend or return the excess increments under paragraph (c) within nine months after the end of the year. In addition, the EDA or City may, subject to the limitations set forth herein, choose to modify the TIP Plan in order to finance additional public costs in the Downtown Chanhassen Redevelopment Project Area or the District. Subsection 3-22. Requirements for Agreements with the Developer The EDA or City will review any proposal for private development to determine its conformance with the Redevelopment Plan and with applicable municipal ordinances and codes. To facilitate this effort, the following documents may be requested for review and approval: site plan, construction, mechanical, and electrical system drawings, landscaping plan, grading and storm drainage plan, signage system plan, and any other drawings or narrative deemed necessary by the EDA or City to demonstrate the conformance of the development with City plans and ordinances. The EDA or City may also use the Agreements to address other issues related to the development. Pursuant to MS., Section 469.176, Subd. 5, no more than 25 percent, by acreage, of the property to be acquired in the District as set forth in the TIP Plan shall at any time be owned by the EDA or City as a result of acquisition with the proceeds of bonds issued pursuant to MS., Section 469.178 to which tax increments from property acquired is pledged, unless prior to acquisition in excess of25 percent of the acreage, the EDA or City concluded an agreement for the development or redevelopment of the property acquired and which provides recourse for the EDA or City should the development or redevelopment not be completed. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-14 Subsection 3-23. Assessment Agreements Pursuant to MS., Section 469.177, SuM. 8, the EDA or City may enter into a written assessment agreement in recordable form with the developer of property within the District which establishes a minimum market value of the land and completed improvements for the duration of the District. The assessment agreement shall be presented to the County Assessor who shall review the plans and specifications for the improvements to be constructed, review the market value previously assigned to the land upon which the improvements are to be constructed and, so long as the minimum market value contained in the assessment agreement appears, in the judgment of the assessor, to be a reasonable estimate, the County Assessor shall also certify the minimum market value agreement. Subsection 3-24. Administration of the District Administration of the District will be handled by the City Manager. Subsection 3-25. Annual Disclosure Requirements Pursuant to MS., Section 469.175, Subds. 5, 6, and 6b the EDA or City must undertake fmancial reporting for all tax increment financing districts to the Office of the State Auditor, County Board and County Auditor on or before August 1 of each year. MS., Section 469.175, SuM. 5 also provides that an annual statement shall be published in a newspaper of general circulation in the City on or before August 15. If the City fails to make a disclosure or submit a report containing the information required by MS., Section 469.175 Subd. 5 and Subd. 6, the OSA will direct the County Auditor to withhold the distribution of tax increment from the District. Subsection 3-26. Reasonable Expectations As required by the TIF Act, in establishing the District, the determination has been made that the anticipated development would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the District permitted by the TIF Plan. In making said determination, reliance has been placed upon written representation made by the developer to such effects and upon EDA and City staff awareness of the feasibility of developing the project site within the District. A comparative analysis of estimated market values both with and without establishment of the District and the use of tax increments has been performed as described above. Such analysis is included with the cashflow in Appendix D, and indicates that the increase in estimated market value of the proposed development (less the indicated subtractions) exceeds the estimated market value of the site absent the establishment of the District and the use of tax increments. Subsection 3-27. Other Limitations on the Use of Tax Increment 1. General Limitations. All revenue derived from tax increment shall be used in accordance with the TIF Plan. The revenues shall be used to fmance, or otherwise pay the cost of redevelopment of the Downtown Chanhassen Redevelopment Project Area pursuant to MS., Sections 469.090 to 469.1082. Tax increments may not be used to circumvent existing levy limit law. No tax increment may be used for the acquisition, construction, renovation, operation, or maintenance of a building to be used primarily and regularly for conducting the business of a municipality, county, school district, or any other local unit Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-15 of government or the state or federal government. This provision does not prohibit the use of revenues derived from tax increments for the construction or renovation of a parking structure. 2. Pooling Limitations. At least 75 percent of tax increments from the District must be expended on activities in the District or to pay bonds, to the extent that the proceeds of the bonds were used to finance activities within said district or to pay, or secure payment of, debt service on credit enhanced bonds. Not more than 25 percent of said tax increments may be expended, through a development fund or otherwise, on activities outside of the District except to pay, or secure payment of, debt service on credit enhanced bonds. For purposes of applying this restriction, all administrative expenses must be treated as if they were solely for activities outside of the District. 3. Five Year Limitation on Commitment of Tax Increments. Tax increments derived from the District shall be deemed to have satisfied the 75 percent test set forth in paragraph (2) above only if the five year rule set forth in MS., Section 469.1763, Subd. 3, has been satisfied; and beginning with the sixth year following certification of the District, 75 percent of said tax increments that remain after expenditures permitted under said five year rule must be used only to pay previously committed expenditures or credit enhanced bonds as more fully set forth in MS., Section 469.1763, Subd. 5. 4. Redevelooment District. At least 90 percent of the revenues derived from tax increment from a redevelopment district must be used to finance the cost of correcting conditions that allow designation of redevelopment and renewal and renovation districts under MS., Section 469.176 Subd. 4j. These costs include, but are not limited to, acquiring properties containing structurally substandard buildings or improvements or hazardous substances, pollution, or contaminants, acquiring adjacent parcels necessary to provide a site of sufficient size to permit development, demolition and rehabilitation of structures, clearing of the land, the removal of hazardous substances or remediation necessary for development of the land, and installation of utilities, roads, sidewalks, and parking facilities for the site. The allocated administrative expenses of the EDA or City, including the cost of preparation of the development action response plan, may be included in the qualifying costs. Subsection 3-28. Summary The Chanhassen Economic Development Authority is establishing the District to preserve and enhance the tax base, redevelop substandard areas, and provide employment opportunities in the City. The TIF Plan for the District was prepared by Ehlers & Associates, Inc., 3060 Centre Pointe Drive, Roseville, Minnesota 55113, telephone (651) 697-8500. Chanhassen Economic Development Authority Tax Increment Financing Plan for Tax Increment Financing District No. 10 3-16 Appendix A Project Description In 2006, SouthWest Transit secured $7 million in federal funds to be used for the construction of a new park and ride facility in downtown Chanhassen. The new multilevel ramp could accommodate up to 420 vehicles. Currently, SouthWest Transit operates a one-acre park and ride facility (up to 120 vehicles) behind the Chanhassen Dinner Theater. For this project to move ahead, the City will need to take the lead in providing access to the new facility, which will include the construction of public roadway and utility improvements. The public improvements are proposed to be constructed in two phases. Phase 1 will include the demolition of the existing scene shop building for the Dinner Theater and a bus stop enclosure, site clearing and grading, sanitary sewer relocation, and watermain improvements to prepare for the construction of the parking ramp/transit station. Phase 2 will include street and storm drainage improvements that will be constructed in conjunction with the transit station project. The tax increment and public improvements will also facilitate the construction of approximately 50 multi-family housing units and 10,000 square feet of commercial development in the District. Appendix A-1 Appendix B Maps of the Downtown Chanhassen Redevelopment Project Area and the District Appendix B-1 February 24,2010 City of Chanhassen Proposed Tax Increment Financing District No. 10 + Tax Increment Financing District Nos. 4 and 10 Downtown Redevelopment Project Area City of Chanhassen Chanhassen, Minnesota ,JJ ,// / ._L \ r " ' ~>' "<:!!f - !' .... t..,. Downtown Redevelopment Project Area Appendix C Description of Property to be Included in the District The District encompasses all property and adjacent rights-of-way and abutting roadways identified by the parcels listed below. Parcel Numbers Legal DescriDtion Owner 25-1680010 Block 1, Lot 1, Chanhassen Transit Station Addition SouthWest Transit 25-1680020 Block 1, Lot 2, Chanhassen Transit Station Addition Bloomberg Companies 25-1680030* Block 1, Lot 3, Chanhassen Transit Station Addition Bloomberg Companies 25-1680040* Block 2, Lot 1, Chanhassen Transit Station Addition City of Chanhassen 25-1680050 Outlot A, Chanhassen Transit Station Addition City ofChanhassen 25-1680060* Outlot B, Chanhassen Transit Station Addition City of Chanhassen 25-2830031 * Part of Outlot A, Frontier Cinema Addition, except Bloomberg Companies for portion not in the Chanhassen Transit Station Addition * These parcels are being removed from Tax Increment Financing District No.4 to be included in Tax Increment Financing District No. 10. Appendix C-1 Appendix D Estimated Cash Flow for the District Appendix 0-1 3/312010 Base Value Assumptions - Page 1 . EHLERS .. ASSOCIATES INC Commercial and Apartment Redevelopment City of Chanhassen Dinner Theater Redevelopment ASSUMPTIONS AND RATES DistrictType: Redevelopment MaximumlFrozen local Tax Rate: 107.3240% Pay 2010 District Name/Number: 2013 Current local Tax Rate: (Use lesser of Current or Max.) 107.3240% Pay 2010 County District #: State-wide Tax Rate (Comm./lnd. only used for total taxes) 46.0000% Pay 2010 First Year Construction or Inflation on Value 2010 Market Value Tax Rate (Used for total taxes) 0.11520% Pay 2010 existing District - Specify No. Years Remaining Inflation Rate - Every Year: 2.00% PROPERTY TAX CLASSES AND CLASS RATES Interest Rate: 5.000k Exempt Class Rate (Exempt) 0.00% Present Value Date: 1-Aug-10 Commercial Industrial Preferred Class Rate (C/I Pref.) First Period Ending 1-Feb-11 First $150,000 1.50% Tax Year District was Certified: Pay 2010 Over $150,000 2.00% Cashflow Assumes First Tax Increment For District: 2013 Commercial Industrial Class Rate (C/I) 2.00% Years of Tax Increment 26 Rental Housing Class Rate (Rental) 1.25% Assumes last Year of Tax Increment 2038 Affordable Rental Housing Class Rate (Aff. Rental) 0.75% Fiscal Disparities Eledion [Outside (A), Inside (B), or NA] Inslde(B} Non-Homestead Residential (Non-H Res.) 1.25% Incremental or Total Fiscal Disparities Incremental Homestead Residental Class Rate (Hmstd. Res.) Fiscal Disparities Contribution Ratio 36.6883% Proposed 2010 First $500,000 1.00% Fiscal Disparities Metro-Wide Tax Rate 121.7320% Proposed 2010 Over $500,000 1.25% Agricultural Non-Homestead 1.00% BASE VALUE INFORMATION (Original Tax Capacity) Land Building Total MaD# PID Owner Address Market Value Market Value Market Value 25.1680020 Bloomberg 1,662,000 1,206,500 2,868,500 25.1680030 Bloomberg 353,600 353,600 25.2830031 Bloomberg 380,600 380,600 25.1680010 SW Transit 353,600 353,600 25.1680060 C~y 217,500 217,500 25.1680040 C~y 424,100 424,100 25.1680050 City 61,900 61,900 Percentage I Of Value Used I for District 100% 100%1 100% 100%1 100%, 100% _ ---.!OO%~ I Tax Year Original Original Market Value Market Value 2,868,500, Pay 2010 353,600i Pay 2010 380,600. Pay 2010 353,600 Pay 2010 217,500: Pay 2010 424,100. Pay 2010 61,900,- Pay 2010 4659800 --- Property Tax Class CII CII CII Exempt Exempt Exempt ~~ Current Original Tax Caoacitv 57,370 7,072 7,612 Class After Conversion CII CII CII Exempt Rental Rental Rental After Conversion Orio. Tax Cao. ArealPhase 57,370 7,072 7,612 -720054 2,719 5,301 774 80~84s -- Note: 1. Base values need to be refined for pay 2011, if certification is requested fafter 6/30/10. 2. County may not adjust original tax capacity to new use, resulting in a higher base value. Prepared by Ehlel'$ & Associates, Inc. - Estimates Only N:\MinnSOla'Chanhassen\Housing. Economic. Redevelopment\TIF\TIF Districts\TIF 10\TIF Runs\2010\ehJers bfrun for dinner theater redev 2 17 10.xls 3/312010 Base Value Assumptions - Page 2 . EHLERS .. ASSOCIATES INC Commercial and Apartment Redevelopment City of Chanhassen Dinner Theater Redevelopment Area/Phase New Use Retail Apartments Existin Theater Total Sq. FtJUnits 10,000 48 Market Value Sq. FtJUnlts 175 150,000 Market Value 1,750,000 7,200,000 4.000,000 Project Tax Capacity 34,250 90,000 80.000 Subtotal Residential 48 Subtotal CommerclaUlnd. 10 000 Note: 1. Market values estimates need to be confinmed. 7,200 000 5 750 000 90 000 114250 oca Isea a et Property Dlsparftles Value Total Taxes Per New Use Taxes Taxes Taxes Taxes S . FtJUnlt Retail 23,272 15,297 2,016 56,340 5.63 Apartments 96,592 0 8,294 104,886 2,185.13 Exlstln Theater 54 359 35 729 4608 131 496 #DIV/OJ Note: 1. Taxes and tax increment will vary signficanUy from year to year depending upon values, rates, state law, fiscal disparities and other factors which cannot be predicted. WHAT IS EXCLUDED FROM TIF? Total Property Taxes less State-wide Taxes less Fiscal Disp. Adj. less Market Value Taxes less Sass Value Taxes Annual Gross TIF 292,722 (52,555) (51,026) (14,918) (56,398) urrent Market Value - Est. New Mar1<et Value - Est. Difference Present Value of Tax Increment Difference Value likel to occur without Tax Increment is less than: Prepared by Ehlers & Associates, Inc. - Estimates Only N:\MinnsotalChanhassen\Housing - Economic. Redevelopment\TlF\T1F Districts\TIF 10\TIF Runs\2010\ehlers tif run for dinner theater redev 2 17 10.xls 3/512010 Tax Increment Cashflow - Page 3 . EHLERS .. oI.SSOCIArcs 'Ne Commercial and Apartment Redevelopment City of Chanhassen Dinner Theater Redevelopment Tax Payment Year Date 0210 1/11 08101/11 02101/12 08101/12 02101/13 100% 111,063 (80,848) (6,057) 24,158 107% 25,927 12,964 (47) (1,292) 11,625 10,024 0.5 2013 06/01/13 12,964 (47) (1,292) 11,625 19,804 1 2013 02101/14 100% 205,650 (80,848) (15,481) 109,521 107% 117,543 58,771 (212) (5,856) 52,704 63,061 1.5 2014 06/01/14 58,771 (212) (5,856) 52,704 105,262 2 2014 02/01/15 100% 209,967 (80,848) (15,481) 113,638 107% 121,961 60,981 (220) (6,076) 54,685 147,982 2.5 2015 06/01/15 60,981 (220) (6,076) 54,685 189,660 3 2015 02/01/16 100% 214,166 (80,648) (15,481) 117,838 107% 126,468 63,234 (228) (6,301) 56,706 231,824 3.5 2016 06/01/16 63,234 (228) (6,301) 56,706 272,959 4 2016 02/01/17 100% 218,450 (80,648) (15,791) 121,811 107% 130,733 65,366 (235) (6,513) 58,618 314,445 4.5 2017 08101/17 65,366 (235) (6,513) 58,818 354,918 5 2017 02101/18 100% 222,819 (80,848) (16,106) 125,864 107% 135,063 67,541 (243) (6,730) 60,568 395,719 5.5 2018 06/01/18 67,541 (243) (6,730) 60,568 435,524 6 2018 02101/19 100% 227,275 (80,848) (16,429) 129,999 107% 139,520 69,760 (251) (6,951) 62,558 475,634 6.5 2019 06/01/19 69,760 (251) (6,951) 62,558 514,766 7 2019 02/01/20 100% 231,821 (80,648) (16,757) 134,216 107% 144,046 72,023 (259) (7,176) 64,587 554,181 7.5 2020 06/01/20 72,023 (259) (7,176) 64,587 592,636 8 2020 02101/21 100% 236,457 (80,848) (17,092) 138,517 107% 146,662 74,331 (268) (7,406) 66,657 631,355 8.5 2021 06/01/21 74,331 (268) (7,406) 66,657 669,129 9 2021 02/01/22 100% 241,186 (80,848) (17,434) 142,904 107% 153,371 76,685 (276) (7,641) 68,768 707,149 9.5 2022 06/01/22 76,685 (276) (7,641) 68,768 744,242 10 2022 02/01/23 100% 246,010 (80,648) (17,783) 147,379 107% 158,173 79.087 (285) (7,880) 70,922 781,564 10.5 2023 08/01/23 79,087 (285) (7,880) 70,922 817,975 11 2023 02/01/24 100% 250.930 (80,848) (18,138) 151,944 107% 163,072 81.536 (294) (8.124) 73,118 854,598 11.5 2024 06/01/24 81.536 (294) (8,124) 73,118 890,328 12 2024 02/01/25 100% 255,949 (80,848) (18,501) 156,600 107% 168,069 64,034 (303) (8,373) 75,359 926,255 12.5 2025 06/01/25 64.034 (303) (8.373) 75,359 961,305 13 2025 02/01/26 100% 261,068 (80,648) (18,871) 161,349 107% 173,166 86,583 (312) (8.627) 77,644 996,538 13.5 2026 06/01/26 86,583 (312) (8,627) 77,644 1,030.911 14 2026 02/01/27 100% 266,289 (80,648) (19,249) 166,193 107% 178,364 89,182 (321) (8,886) 79,975 1.065,453 14.5 2027 08101/27 89,182 (321) (8,886) 79,975 1,099,152 15 2027 02/01/28 100% 271,615 (80,648) (19,634) 171,133 107% 183.667 91,834 (331) (9,150) 82,353 1,133,007 15.5 2028 08/01/28 91,834 (331) (9,150) 82,353 1,166,036 16 2028 02101/29 100% 277,047 (80,848) (20,026) 176,173 107% 189,076 94,538 (340) (9,420) 64,778 1,199,208 16.5 2029 06/01/29 94,538 (340) (9,420) 84,778 1,231,571 17 2029 02/01/30 100% 282,588 (80.848) (20,427) 181,313 107% 194,593 97,296 (350) (9,695) 87,251 1 ,264 ,066 17.5 2030 06/01/30 97,296 (350) (9,695) 87,251 1,295,769 18 2030 02101/31 100% 268,240 (80,648) (20,835) 186,557 107% 200,220 100.110 (360) (9,975) 89,775 1,327,593 18.5 2031 06/01/31 100,110 (360) (9,975) 89,775 1,358,640 19 2031 02/01/32 100% 294,004 (80,848) (21,252) 191,905 107% 205,960 102,980 (371) (10,261) 92,348 1.389,799 19.5 2032 08/01/32 102.980 (371) (10,261) 92,348 1,420,198 20 2032 02/01/33 100% 299,865 (80,848) (21,677) 197,360 107",(, 211,814 105.907 (381) (10,553) 94,973 1,450,698 20.5 2033 06/01/33 105,907 (381) (10,553) 94,973 1,480,454 21 2033 02/01/34 100% 305,862 (80,848) (22,111) 202,924 107% 217,786 108,893 (392) (10,850) 97,651 1,510,303 21.5 2034 06/01/34 108,893 (392) (10,850) 97,651 1,539,424 22 2034 02/01/35 100% 312,000 (80,848) (22,553) 206,599 107% 223,877 111,939 (403) (11,154) 100,382 1,568,630 22.5 2035 06/01/35 111,939 (403) (11,154) 100,382 1,597,123 23 2035 02101/38 100% 318,240 (80.648) (23,004) 214,388 107% 230,090 115,045 (414) (11,463) 103,168 1,625,692 23.5 2036 06/01/36 115,045 (414) (11,463) 103,168 1,653,565 24 2036 02/01/37 100% 324,605 (80,848) (23,464) 220,293 107% 236,427 118,214 (426) (11,779) 106,009 1,681,507 24.5 2037 06/01/37 118.214 (426) (11,779) 106,009 1,708,767 25 2037 02101/38 100% 331,097 (80,848) (23,933) 226,316 107% 242,891 121,446 (437) (12,101) 108,908 1,738,090 25.5 2038 08/01/38 121,446 (437) (12,101) 108.908 1,762,746 26 2038 02/01/39 Tobll 4,420,558 (15,814) (440,464) 3,964,180 I Pr.ent Value From 0810112010 Pr.ent Value Rate 5.00% 1,965,683 (7,076) (195,881) 1,762,746 Pr_ by Ehlen & Associ..... Jnc. - Eatima'" Only N;lMinnsota'Chanhasaen\Housing - Econanic. Redevelopnent\TIF'\TIF Ois1Jid:s\TIF 10\TIF Runs\201O\ehMtrI tif run for dirvler 1heater redev 2 17 10.xls Appendix E Minnesota Business Assistance Form (Minnesota Department of Employment and Economic Development) A Minnesota Business Assistance Form (MBAF) should be used to report and/or update each calendar year's activity by April I of the following year. Please see the Minnesota Department of Employment and Economic Development (DEED) website at htto://www.deed.state.mn.us/Communitv/subsidiesJMBAFForm.htm for information and forms. Appendix E-1 Appendix F Redevelopment Qualifications for the District Information to be added to prior to the public hearing MARKET VALUE BUT / FOR ANALYSIS Current Market Value - Est. New Market Value - Est. Difference Present Value of Tax Increment Difference Value likely to occur without Tax Increment is less than: 4,659,800 12,950,000 8,290,200 1,965,683 6,324,517 6,324,517 Appendix F-1 Appendix G Findings Including But/For Qualifications More information to be added to prior to the public hearing Appendix G-1 Appendix H Prior Planned Improvements Appendix H-1 02/17/10 12:01 FAX 9522271110 CITY OF CHANHASSEN -:"" -V'. CITY OF CHANHASSEN 7700 MARKET BLVD - PO BOX 147 CIiANHASSEN, MN 55317 (952)227-1180 FAJ(: (952)227-1190 ...--.......-.. ADDRESS. PIN LEGAL DESC PRINTED WITHOUT ISSUING 1012812008 : 551 WEST 78TH StREET . 250130700 : TWP: 116 RNG: 23 SEC: 13 : LOT 5 BLOCK 51 : PLUMBING : COMMERCIAL : REMODEUREPAIRlREPLACE : PLUMBING (J..{J -L..- T)1-t" : $ 90.00 PERMIT TYPE PROPERTY TYPE CONSTRUCTIO~ TYPE ACTIVITY V ALUA TlON APPLICANT PLUMBING PERMIT FEE . STATE SURCHARGE (PLBG, VAL) TOTAL METRO TESTING 31222 CEDAR CREEK. ROAD HINCKLEY, MN 55037- (612) 221.5888 Minnesota State License #: 58476 OWNER BLOOMBERG COMPANIES 525 WEST 78TH STREET CHANHASSEN, MN 55317 ]) J.vt ~.Lf:fl1 ffV' (JjZ-K/D1 AGREEMENT AND SWORN STATEMENT. The work for which this pennit is issued shall be performed according to: (I) the conditions of this pennit; (2) the approval plans and specifications; (3) the applicable city approvals, Ordinances, and Codes; and (4) the State Building . Code. This permit is for only the work described, and does not grant pennission for additional or related w~k which requires separate permits. This j>ennit will expire and become null and void if work is not started within 180 days, or if work is susPended or abandQned for a period of 180 days any time after work has commenced. The applicant is responsible for assuring all required inspections are requested.in confonnance with the State.Building Code. Issued by: Jerritt Mohn. Building Official City of Chanhassen ~"'PARATP PPRMITS RF.O"lRFn 'FOR WORK OTHRR THAN OF5WRTR'F.n AROVE. ~007 30.01 0.04 30.05 02/17/10 12:01 FAX 9522271110 .~ / --- ADDRESS PIN. LEGAL DESC PERMIT TYPE PROPERTY TYPE CONSTRUCTION TYPE ACTIVITY VALUATION CITY OF CHANHASSEN CITY OF CHANHASSEN 7700 MARKET BLVD - PO BOX 147 CHANHASSEN, MN 55317 (952)227-1180 FAU(: (952)227-1190 I4J 008 DATE ISSUED: PERMIT NO.: 2009-01946 PRINTED WITHOm ISSUING 9/25/2009 : 551 WEST 78TH STREET : 250130700 : TWP~ 116 .RNG: 23 SEe: 13 : LOT 5 BLOCK 51 : HVAC : COMMERCIAL : REMODElJREPAIRlREPLACE : FURNACE : $. 2,800.00 HV AC PERMIT FEE STATE SURCHARGE (MECH, VAL) TOTAL APPLICANT VOGT REA TING 3260 GORHAM AVENUE ST. LOUIS PARK, MN 55426 (952)929-6767 OWNER BLOOMBERG COMPANIES sis WEST 78TH STREET CHANHASSEN, MN 55317 70.50 .1.40 71.90 . c?J-tf- iff! 1 ~ r1- Cj )~10 f AGREEMENT AND SWORN STATEMENT The work for which this permit is issued shall be performed according to: (1) the conditions of this permit; (2) the approval plans and specifications; (3) the applicable city approvals, Ordinances, and Codes; and (4) the State Building Code. This pennit is for only the wOrk described, and does. not grant pennission for additional or related work which requires separate permits. This pennit will expire and become nuIl and void if work is not started within 180 days, or if work is suspended or abandoned fur a period of 180 days any time . after work has commenced. The applicant is responsible for assuring all required inspections are requested in conformane< . with the State Building Code. Issued'by: Jemtt Mohn, Building Official City of Chanhassen C'r.n A n A....'C' n'C'n"...'''I'(,' DCA' TlDcn UAD "'ADV A'T'U'Cl) 'T'U Al\T nQ4;:I("r>n:n:;n A PA"1:I 02/17/10 12:02 FAX 9522271110 CITY OF CHANHASSEN ~.- CITY OF CHANHASSEN 7700 MARKET BLVD - PO BOX 147 CHANHASSEN, MN 55317 (952)227~1180 'FAU(: (952)227-1190 ~. ~~':'Ls;.. ...- ADDRESS PIN LEGAL DESC pRlNTIm WITHOUT ISSUING 11130/2009 : 551 WEST 78TH STREET : 250130700 : TWP: 116 RNG: 23 SEC: 13 : LOT 5 BLOCK 'I : PLUMBING : COMMERCIAL : REMODEUREPAIR/REPLACB : PLUMBING I. ; z.,--T ~ '. $ 100.00 PERMIT TYPE PROPERTY TYPE CONSTRUCTION. TYPE ACTIVITY VALUATION 141 009 DATE ISSUED: PERMIT NO.: 2009-02470 / APPLICANT PLUMBING PERMIT FEE. STATE SURCHARGE (PLBG, VAL) TOTAL METRO TESTING 31222 CEDAR CREEK J{OAD HINCKLEY;MN 55037- (612) 221-5888 . Min!lesota State License #: 58476 OWNER BLOOMBERG COMPANIES 525 WEST 78111 STREET, ' CHANHASSEN, MN 553 t 7 -/Jf)~72-7" {7\ . . 1;-');0/01 AGREEMENT AND SWORN STATEMENT The work for which this pennit is issued shall beperfonned according to: (1) the conditions'ofthi~ pennit; (2) the approval plans and specifications; (3) tbe .applicable city approvals; OrdinaJ:lces, and Codes; and (4) the State Building Code. This pennit is for only the work described, and does not grant permission for additional or related work which , requires separate pennits. This permit will expire and become - null and void if work is not started within ISo-liays. or if work is suspended or abandoned for a period of I 80; days any time " after work has commenced. The applicant is responsible for assuring all required inspections are requested in conformance with the State Building Code. Issued by: Jerritt Moho, Buildfug Official City of Chanhassen ~RPARATR PF.RMTTS RP.01nRRO FOR WORK OTHRR THAN OF.~~RTRP.n AROVR 30.00 0.05 ' 30.05 02/17/10 12:02 FAX 9522271110 ..--""""- -----. CITY OF CHANHASSEN CITY OF CHANHASSEN 7700 MARKET BLVD. PO BOX 147 CHANHASSEN, MN 55317 (952) 227-1180 FAX: (952) 227-1190 PRINTED WITHOUT ISSUING 10/2012009 : 501 WEST 78TH STREET : 250130500 : TWP: 116 RNG: 23 SEe: 13 : LOT 05 BLOCK 01 : PLUMBING : COMMERCIAL : REMODEUREPAIRlREPLACE : PLUMBING ~ t... 7J;J- : $ 200.00 ADDRESS PIN LEGAL DESC PERMIT TYPE PROPERTY TYPE CONSTRUCfION TYPE ACTIVITY VALUATION APPLICANT JA Y'S PLUMBING 2SS0SUTTONLAKEBLVD . JORDAN, MN 55352-9467 (612) 868-4102 . Minnesota'State License If.: 61323 IgJ 010 DATE ISSUED: PERMIT NO.: 2009-02159 / PLUMBING PERMIT FEE STATE SURCHARGE (pLBG, VAL) TOTAL OWNER BLOOMBERG COMPANIES INCORPORATED 525 WEST 78TH STREET CHANHASSEN, MN 55317 AGREEMENT AND SWORN STATEMENT The work for which this permit is iss~ed shall be performed according to: (t) the conditions of this pennit; (2) the approval plans and specifications; (3) the applicable city approvals, Ordinances, and Codes; and (4) the State Building Code. This pennit is for only the work'described, and does not grant pennission for additional or related work which requires separate permits. This pennit will expire and become null and void if work is not started within 180 days, or if work is suspended or abandoned for a period of 180 days any time after work has commenc.ed. The applicant is responsible for assuring all required inspections are requested; in confonnancE with the State Building Code. Issued. by: Jerritt Moho, Building Official City of Chanhassen 30.00 0.10 30.10 CITY OF CHANHASSEN 7700 MARKET BLyD. PO BOX 147 CHANHASSEN, MN .55317 (952)227-1180 FAU{: (952)227-1190 5"';-1 PR1NTED WITHOUT ISSUING 10/2312008 : ~ WEST 78TH STREET .' : 250130500 : TWP: J J 6 RNG: 23 SEe: 13 : LOT 05 BLOCK 01 : PLUMBING : COMMERCIAL : REMODELlREPAIRlREPLACE : PLUMBING -I-fl..-C{.s} : $ 150.00 02/17/10 12:00 FAX 9522271110 :"" .... .. ADDRESS PIN LEGAL DESC PERMIT TYPE, . PROPERTY Tv1>E CONSTRUCTION TYPE ACI'IVITY VALUATION CITY OF CHANHASSEN PERMIT NO.: 2008-02431 DATE ISSUED: APPLICANT PLUMBING .PERMIT FEE STATE SURCHARGE (PLBG, VAL) TOTAL JAY'S PLUMBING 25 SO SUTTON LAKE BLVD JORDAN, MN 55352-9467 (612) 868-4102 Minnesota State License #: 61323 OWNER BLOOMBERG COMPANIES INCORPORATED. 525 WEST 78TH STREET CHANHASSEN, MN 55317 AGREEMENT AND SWORN STATEMENT The work for which this permit is issued shall be performed . according to: (l) the conditions of this permit; (2) the approval plans and specifications; (3) the applicable city approvals. Ordinances, and Codes; and (4) the State Building Code. This permit is for only the work described, and does not grant permission for additional or related work which requires separate permits. This permit will expire and become null and void if work is not started withill lS{) days, or if work is suspended or abandoned for a period of 180 days any time after work has commen~cd. The applicant is responsible fOT assuring all required inspections are requested in confonnancc with the State Building Code. Issued by: Jen-itt Mohn, Building Official City of Cbanhassen ~006 30.00 0.07 30.07 gPP-#=- ;) '3 9 ~ } O/v/or; . SRPARATR PRRMITS RF.OI IlRRn FOR WORK OTHF.R TJ-JAJIf nF.SC-RJR'F.n AROVR 02/17/10 12:02 FAX 9522271110 CITY OF CHANHASSEN .- --::. ......--- l.;lTY .U}'l:HANHA~:stN 1700 MARIO~T "LVI) ~ 1'0 ROX 147 CHANHASSEN, MN 5531' (952) 227-1180 FAX: (952)227.1190 PERMIT NO.: 2008-02431 DATE ISSUED: 1aJ0ll / .~OU"-li;SS PRINTED WIll-IOllT I~SIJf!\TG lO"l:~~(l(;f. SOl WEST 78T11 STlU~Jrr 250130500 TWP: 116 RNG: 23 SEe: l3 LOT O~ Bl.OCK 01 PLUMBING COMMERCIAL RRMOOFilJk.BPAIIVItBPLACE PLUM~INO In 1-l<;" t .$ 150,00 ':N LEGAL DESC. :">ERMIT TYPE PROPERTY TYPE ;:ONSTRllCT'ON TYPE ;\CTIVlTY VALUATION APPLICANT PUJMBl'NG PflRMIT FER STATE SlJRCf-IAROE (PLBG, VAL) TOTAL 30:0() 0,07 30.07 .?p. )1) A, -W- ") > ("1- ~ / .Ie ~,~ :;r. / " . ('t .. ... . ..J . J 0 J-v"?/or,? . .. ., 'S PLUMBING . ,,) SlllTON l.^KB 13LVO : ;. :WAN, MN 55352-9467 . '.' .) 868.4102 1/ ;;~!lesot..\ State t.icense.ti: 61323 OWNER \1' OOMBERG COMPANIES INCORPORATED' '. : WEST 78TH STRcl:rr .l, NIIASSRN, MN 55317 AGREEMENT ANI) SWORN STATIMEN'r . "~ wOl'k for wilieR this pennit is iasued shall be performed 1I~ curding to:, (l) the condltlOlIS oftbis pennlt; (2) the lFproval plans and specifications: (3) the applicable city ~;llwQval!;, Ordinances, and Codes; and (4) the State Building (oJc:This penn It. Is rOI' only the work de~crihed, and doe.'l f:N J,,'t'am pennission for additional ur related work wllich re-luires separate pet'mits. TIIiIl permJt will expire and become flt,!1 aod void if work ill not Started within tRO days. or ifwnrlc i;. :,uspcndcd or abandoned tor tl period lJf 180 days Any tllt,l.l a-::;:!t work has commen~. The applicantls respoJllllOle fur ". '''Iring all required inspections an: rcquClStc:d in confolll1am;( ,. :Illlhl: Shlte Rllildl/lg Code, . ': .;ued by: Jerriu Mohn. Bui.lding Official ( Ii.)' of Chanhasse~ . RECEI\/ED . NOV 12 2008 CHANHASSEN INSPECTIONS . . I 'a6~d. L;9LZ617Z~6 "m'AIU'I"r; "1\I~MIT~ lmOlllltml r.Olt WOltl< OTlI1\R 'I,.IAN IW:~r.rm~I~I) ABOVE Y9I:90 aOOZ'Z! AON 02/17/10 12:03 FAX 9522271110 ....... " .~ CITY OF CHANHASSEN . CITY OF CHANHASSEN 7700 MARKET BLVD - PO BOX 147 CHANHASSEN, MN 55317 (952) 227-1180 FAX: (952) 227-1190 REPRINTED ON 21312010 : 501 WEST 78TH STREET : 250130500 : TWP: 116 RNG: 23 SEe: 13 : LOT 05 BLOCK 01 : FIRE SPRINKLER : COMMERCIAL : NEW : MISC. : $ 700.00 ADDRESS PIN LEGAL DESC PERMIT TYPE PROPERTY TYPE CONSTRUCTION TYPE ACTIVITY VALUATION APPLICANT OLSEN FIRE PROTECTION 321 WILSON STREET NE MINNEAPOLlS.MN 55413 (612)331-3111 OWNER BLOOMBERG COMPANIES INCORPORATED 525 WEST 78TH STREET CHANHASSEN,MN 55317 AGREEmNT AND SWORN STATEMENT The work for which this permit is issued shall be petfonned according to: (1) the conditions of this permit; (2) the approval plans and specifications; (3) the applicable city approvals, Ordinances, and Codes; and (4) the State Building Code. This permit is for only the work described, and does not grant permission for additional or related work which requires separate pennits. This permit will expire and become null and void if work is not started within 180 days, or if work is suspended or abandoned for a period of 180 days any time after work has commenced. The applicant is responsible for assuring all required inspections are requested in conformance with the State Building Code. Issued by: Jerritt Mobn, Building Official City of Cbanhassen ~013 PERMIT NO.: 200~824 DATE ISSUED: 05/0612008 . FIRE SPRINKLER PERMIT FEE STATE SURCHARGE (OTHER, VAL) TOTAL 29.60 0.35 29.95 ~ kvi SEPARATE PERMITS REQUIRED FOR. WORK OTHER THAN DESCRIBED ABOVE. 02/17/10 12:03 FAX 9522271110 CITY OF CHANHASSEN ~OH CITY OF CHANHASSEN 7700 MARKET BLVD - PO BOX 147 .CHANHASSEN, MN 55317 . (952)227-1180 FAUt: (952)227-1190 PERMIT NO.: 2008-02759 DATE ISSUED: ADDRESS PIN LEGAL DESC PRINTED WITHOUT ISSUING 12/412008 : 550 MARKET STREET : 252830020 : FRONTIER CINEMA ADDITION : LOT 2 BLOCK I : BUILDING : COMMERCIAL : REMODEUREPAIRlREPLACE . JIl.H"IVY : . MISC. . (J It{JJJp," : $12,000.00 ~ ~. PERMIT TYPE PROPERTY TYPE CONSTRUCTION TYPE ACTIVITY VALUATION (;) t.J APPLICANT fiSHER DRYWALL INC PO BOX 241 ROCKFORD, MN 55373- (612) 369-5492 Minnesota State License #: 20631005 PERMIT FEE (VALVA TION) PLAN CHE.CK (BUlLDlNG,ISTS) STATE" SURCHARGE (BLDG, VAL) TOTAL .209.25 136.01 .6.00 351.26 OWNER BLOOMBERG COMPANIES INCORPORATED X 570 MARKET STREET PO BOX 730 CHANHASSEN, MN 55317- AGREEMENT AND SWORN STATEMENT The work for which this pennit is issued shall be performed according to: (1) the conditions of this permit; (2) the approval plans and specifications; (3) the applicable city approvals, Ordinances, and Codes; and (4) the State Building Code. This pennit is for only the work described, and does not grant pennission for additional or related work wbich requires separate pennits. This permit will expire and become null and void if work is not started within 180 days, or if work is suspended or abandoned for a period of 180 days any time after work has commenced. The applicant is responsible for assuring all required inspections are requested in conforman~e with the State Building Code. . (ssued by: Jerritt Moho, Building Official City of Chanhassen rJ (I'll.. -1f /7b/d< ( )- rr:. (..1 f" SEPARATE PERMITS REQUIRED FOR WORK OTHER THAN. DESCRIBED ABOVE.