The URL can be used to link to this page

HRA 1983 03 24AGENDA REGULAR MEETING CHANHASSEN HOUSING AND REDEVELOPMENT AUTHORITY _ THURSDAY, MARCH 24, 1983 Chanhassen City Hall, 690 Coulter Drive City Council Chambers 7:30 p.m. 7:30 p.m. 1. 2. 3. 4. 5. 6. 7. 8. 9. 9:30 p.m. 10. Call to order. Approve minutes of February 17, 1983 meeting. Presentation of Supermarket Pro Formas: Retail Systems, Inc. Presentation of Feasibility Study for Adaptive Reuse of old Instant Web building: BRW, Inc. Discuss status of Downtown Project Financing. Approve Assessment Agreement for Chanhassen Lakes Business Center, 1351 Park Road. Approval of Bills. Old Business. New Business. Adjournment. CHANHASSEN HOUSING & REDEVELOPMENT AUTHORITY 1 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN. MINNESOTA 55317 ,u� • 161 21 937-1900 MEMORANDUM TO: Chanhassen Housing and Redevelopment` Authority FROM: Scott A. Martin, Executive DirectorA�I1�1A DATE: March 17, 1983 SUBJ: ,March 24th Regular Meeting. Due to the nature of the Agenda items, the Mayor and City Council have been invited to attend the March.24th Regular HRA meeting so that they may be involved in our discussion, concerning the old Instant Web Building, in particular, and the Downtown Project, in general. i c Minutes Chanhassen Housing and Redevelopment Authority Regular Meeting February 17, 1983 Call to Order vice- Chairman Cliff Whitehill called the meeting to order at 7:35 p.m. Present were Commissioners Horn, Bohn, and Whitehill. Russell arrived at 8:00 p.m. Absent was Gullickson. Also present was Mayor Hamilton and Councilpersons Watson, Swenson, and Geving. City Manager Ashworth and Executive Director Martin, and Planning Commission representative Bill Ryan were also present. Approval of Minutes Bohn moved, seconded by Horn, approval of the minutes of the November 18, 1982 meeting, as presented. All voted in favor and the motion carried. Presentation of Retail Systems, Inc. Supermarket Stud Representatives from Retail Systems, Inc. presented the results of the Chanhassen Supermarket Study which they prepared during the course of the last two month period. Their presentation included a summary of the results of a telephone survey of area residents made during early December regarding personal shopping habits, which provided the basis for identification of the Downtown Chanhassen trade area. Elliott Olson, President of Retail Systems, Inc. suggested that an opportunity currently exists for securing a new supermarket for downtown if the HRA and Kraus- Anderson can move quickly enough to beat Cub food stores into the marketplace. Spalla projected that a new Cub store would be ready to open at Hwy. 7/101 in Minnetonka in about 21 -3 years, based upon information from one of Kraus - Anderson's construction divisions who have been-working on that project. Olson reiterated that any new store in Chanhassen would probably have to precede Cub into the trade area, or it would be necessary to wait several years after Cub opens in order to "let the dust settle ". In other words, Olson recommended pursuing retailers who might be willing to move quickly towards the development of a 15,000 sq. ft. supermarket. Whitehall asked Olson if a land or building rent subsidy or cost writedown would be necessary to successfully attract such a supermarket. Olson replied that some public assistance would probably be required, but the level of assistance could vary depending on a number of variables. Whitehill felt that the HRA should have some projections for estimated levels of public sub- sidies necessary to make a new store profitable. Russell moved, seconded by Bohn, to authorize Retail Systems, Inc. to prepare sales projections based upon an assumption that a Cub Food store locates in the area of Highway 5 and I -494 in Z. Chanhassen Housing and Redevelopment Authority February 17, 1983 Page 2 Eden Prairie, and to prepare an analysis of what level of public subsidy, if any, would likely be required if the BRA is to be successful in attracting a 15,000 sq. ft. supermarket into Downtown Chanhassen. All voted in favor and the motion carried. Status Report on Adaptive Reuse Study for Old Instant Web Mark Swenson of BRW, Inc. presented a status report on the feasi- bility study being prepared by BRW, Inc. for adaptive reuse of the old Instant Web facility. He reviewed his findings con- cerning the structural condition of the building, and highlighted the sections being developed within the report. He recommended that the roof section damaged in late December, 1982 not be repaired until the study is completed. The final report will be presented in its entirety at the next regular HRA meeting. Horn asked that specialty uses such as an IMAX Theatre and a nightclub on the order of the "Carlton Celebrity Room" be con- - sidered in the feasibility study. i Geving suggested reuse of the Instant Web company's office area and the fireplace room for Chamber of Commerce offices and the office of the HRA Executive Director. Whitehill moved, seconded by Bohn, to offer the use of the old Instant Web building office space to the Chamber of Commerce and other Public /Civic organizations at a rental rate of $1.00 /year, subject to a thirty (30) day lease cancellation provision. All voted in favor and the motion carried. Insurance Claim for Instant Web Building Roof Damage Whitehill moved, seconded by Russell, to postpone repair of the Instant Web Building roof until the BRW, Inc. feasibility study is completed, unless a delay in repair work jeopardizes the insurance settlement. All voted in favor and the motion carried. Insurance Coverage for Instant Web Building Whitehill moved, seconded by Russell, to accept the low bid of Dolliff, Inc. Insurance Agency for Replacement Cost Coverage of the old Instant Web Building at a combined property and general liability annual premium of $3,529. All voted in favor and the motion carried. Old Instant Web Building Leases Whitehill moved, seconded by Horn, to approve the proposed leases with Animal Fair, Inc. and Halverson Supplies, Inc. for rental of space in the old Instant Building, as recommended by the r Chanhassen Housing February 17, 1983 Page 3 and Redevelopment Authority Executive Director, and to authorize the Chairman and Executive Director to execute said leases on behalf of the HRA. All voted in favor and the motion carried. its for Chanhassen Tire and viera Whitehill moved, seconded by Bohn, to extend the purchase option agreements for the Chanhassen Tire and Auto (Havlik) and Riviera Supper Club (Krueger) properties for a three (3) month period (March 1, 1983 - June 1, 1983), in accordance with Section 3.1(a) of each agreement. All voted in favor and the motion carried. Year IX Community Development Block Grant Program Activities Martin reviewed the current status of activities funded by the CDBG program during the first two years of local participation, and advised the HRA of several potential activities which could be funded by the preliminary Year IX CDBG allocation of $41,832. Whitehill moved, seconded by Horn, to recommend that the City Council allocate Year IX CDBG funds for Senior Citizen Housing Site Acquisition ($40,000) and Program Administration ($1,832). All voted in favor and the motion carried. Resolution #83 -1 Approving Agreement with Carver County for Railroad Crossing Improvements Whitehhill moved, seconded by Bohn, to adopt Resolution #83 -1 approving an agreement with Carver County for partial funding of costs for the design and installation of an upgraded Railroad Crossing on West 78th Street. All voted in favor and the motion carried. Approval of Bills Bohn moved, seconded by Whitehill, to approve the bills from December, 1982 and January and February, 1983, as presented. All voted in favor and the motion carried. Old Business Horn moved, seconded by Whitehill, to accept the low bid of Wrase Builders, Inc. for installation of energy conservation and weatherizing improvements in the old Instant Web building at a cost of $1,980. All voted in favor and the motion carried. The HRA briefly discussed the recently prepared Housing Survey form which was scheduled for citywide distribution within the next week. The results of this survey will be provided to the HRA as soon as they become available. Chanhassen Housing and Redevelopment Authority February 17, 1983 Page 4 New Business Martin advised the HRA of a special joint meeting with the City Council scheduled for Tuesday, March 15, 1983 at 7:30 p.m. The — purpose of this meeting is to review special financial reports being prepared by the City's Accountants and Financial (Bond) Advisors. Adjournment Bohn moved, seconded by Horn, to adjourn the meeting at 11:00 p.m. All voted in favor and the motion carried. F ,a, CHANHASSEN HOUSING & REDEVELOPMENT AUTHORITY 690 COULTER DRIVE • P.O. BOX 147 - CHANHASSEN, MINNESOTA 55317 (612) 937 -1900 MEMORANDUM TO: Chanhassen Housing and Redevelopment Authority FROM: Scott A. Martin, Executive Directory11� — DATE: March 17, 1983 \ SUBJ: Supermarket Pro Formas prepared by Retail Systems, Inc. As requested by the HRA at their meeting of February 17, 1983, Retail Systems, Inc. has prepared the attached pro formas for a — new 15,000 sq. ft. supermarket in Downtown Chanhassen. As you may recall, these pro formas are designed to assist us in deter- mining what level of public assistance may be required in order r to successfully attract a supermarket retailer into the Downtown i Project Area. The twelve (12) pro formas contained on pages 1 a & b and 2 a & b were prepared prior to Retail Systems' knowledge of plans by Applebaums to construct a new 40,000+ sq. ft. Super Warehouse Market somewhere in the vicinity of Hwy. 5 and I -494 in Eden Prairie. The pro formas on page 3 take this new store into con - sideration, in addition to the proposed new Cub food store in ` Minnetonka. I have also just learned that Cub is expediting the development schedule for the new Minnetonka store at Hwy. 7/101. According to the Minnetonka Planning Department, site plan review is pre - sently underway for a 62,000 sq. ft. store. Although the size of the store is substantially smaller than the 80,000 sq. ft. store projected by Retail Systems, the effect on our trade area is substantially the same. Of greater significance are Cub's plans to begin construction in mid -May and to open for business in October of this year. This change in scheduling will probably force us to adjust our approach towards finding a supermarket retailer willing to open a new store in Chanhassen. As Elliott Olson of Retail Systems said during our last meeting, we may have to "let the dust settle" for a while after Cub opens before we will find any interest in opening another new store within the same trade area. Of course, the impact of another new store like that proposed by Applebaum's could be devastating to our retail _, trade area. Memorandum March 17, 1983 Page 2 Mr. Don Klemp of Retail Systems will be present at next week's meeting to review and translate the enclosed sales projections and pro formas, and to respond to any questions you may have. Please bring your copy of the supermarket study with you to this meeting for your reference. Attachments 1. Letter from Elliott Olson of Retail Systems, Inc. dated March 3, 1983. 2. Sales projections for new Chanhassen Supermarket based on three variables. 3. Pro Formas for new supermarket based on 15 assumptions /variables. March 3, 1983 SYSTEMS, INC. 3025 HARBOR LANE NORTH MINNEAPOLIS, MN 55441 Mr. Scott Martin, Executive Director Chanhassen Housing & Redevelopment Authority 690 Coulter Drive P.O. Box 147 Chanhassen, MN 55317 Dear Scott: Enclosed please find projected store sales for a 15,000 square foot conventional supermarket in the Chanhassen Downtown Redevel- opment Project if Cub were to develop an 80,000 square foot unit at a potential alternate location adjacent to Menards on Highway 5 in Eden Prairie. Also enclosed are 12 different pro formers for the Chanhassen supermarket. They are done on a high and low sales assumption and on a 10.5% and 11.5% labor factor. There are stores running 12% -14% labor factors, but 10.5% -11.5% is possible. The rents in calculated three ways: 1. No rent 2. $30 per square foot building costs (cheap) 10% soft costs 11% constant no ground rent 3. Same as above with $2.00 square foot ground cost As you can see from the pro formas, the net margins are slim with many expense items exceeding them. A small change in sales, gross r profit margin or labor can significantly change net income. In negotiating a rent reduction or other financial incentive, be aware that these factors will vary with the operating style of the retailer. r hE,C;,i_i'v'cD MAR 7 1983 CITY OF CHANHASSEN r Mr. Scott Martin March 3, 1983 Page 2 If you have a specific retailer with a targeted ROI, we can cus- tomize the pro formas to show exactly what concessions could be necessary to meet those goals. In the meantime, these should give you a starting point. Please feel free to call me or Don Klemp if you desire any more information. Best regards, RETAIL SYSTEMS, INC. Elliott W. Olson President EWO:ch Encl. RETAIL SYSTEMS, INC. 3025 HARBOR LANE NORTH MINNEAPOLIS, MINNESOTA 55441 612- 553 -1833 _ � � / STORE ~- 1 DRISKILL/S / 2 CTRY STORE 3 CTRY CLUB -- 4 CTRY CLUB 5 HAUG'S SV � 6 DRISKILL/S ~_ 101 CONVENTNAL � 201 CUB � , 202 CUB AVER. � TOTAL _ | / r [ _ � �EW 15,�OO SF CDNVENTIDNAL STORE ` MAP KEY 101 Ar NEW 8O/OO S MKEY 2O2O Owa ^ 5l1-41� u^ ^ / EST. DOLLARS CORR. DOLLARS T.A. SIZE DRAW IMAGE VOLUME SQ. FT, VOLUME SO. FT. DIFF^ 150800 7^89 -11933 19000 16^00 138 320000 8^42 ~22604 38000 13^00 94 65000 3^04 ~4492 21400 13`00 60 75000 5^00 ~1986 15000 5^00 97 115000 4^60 ~3061 25000 5^00 98 49137 2^20 120000 5^38 -35431 22300 50^00 121 38863 2^59 O 0^08 31090 15000 80,00 128 O 0^00 O O 6°00 130 O 0.00 64057 80000 6,00 130 166296^ 6^35 93889, 3,59 26189^ 16^99 109^ 15640. ' ` ` NEW 15x000 SIF CONVENTIONAL_ STORE -- MAP KEY 10:1. *NEW 40xO00 SF APPLEBAUMS - MAF' KEY 203-(F} �j = -494 SrtS� &NEW 80x000 SF CUB - i`A' KEY 201.- (NwY.Z(10 s/ STORE DOLLARS EST. DOLLARS CUFF. DOLLARS T.A. SIZE DRAW IMAGE VOLUME SO. FT. VOLUME SO. FT. VOLUME SO. FT. DIFF. 150000 7.89 1 DRISKILL'S 16.00 138 150000 7.89 -14821 19000 16.00 138 2 CTRY STORE 320000 8.42 -26130 38000 13.00 94 3 CTRY CLUB 75000 5.00 65000 3.04 -5250 21400 13.00 60 4 CTRY CLUB -1337 25000 75000 5.00 -2242 15000 5.00 97 5 HAUG'S SV 50.00 121 115000 4.60 -3465 25000 5.00 90 6 DRISKILL'S 46793 2.10 120000 5.38 -36603 22300 50.00 121 101 CONVENTNAL 34783 2.32 0 0.00 27826 15000 80.00 120 201 CUB 14903 40000 0 0.00 67691 80000 6.00 130 202 CUB 16.99 111. 0 0.00 0 0 6.00 130 203 APPLEBAUMS 0 0.00 8634 40000 4.00 130 AVER. 170246. 6.18 84500. 3.06 27570. 16.99 111. TOTAL 15640. NEW 15x000 SF CONVENTIONAL STORE -- MAIM KEY 101 di NEW 40r000 SF APPLEBAUMS -- MAP KEY _'_03 (Hwy.S /L-Am) STORE 1 DRISKILL'S 2 CTRY STORE 3 CTRY CLUB 4 CTRY CLUB 5 HAUG'S SV 6 DRISKILL'S 101 CONVENTNAL 201 CUB 202 CUB 203 APPLEBAUMS AVER. TOTAL EST. DOLLARS CURB. DOLLARS T.A. SIZE DRAW IMAGE VOLUME SO. FT. VOLUME SO. FT. DIFF. 150000 7.89 -8298 19000 16.00 138 320000 8.42 -12175 38000 13.00 94 65000 3.04 -2235 21400 13.00 60 75000 5.00 -832 15000 5.00 97 115000 4.60 -1337 25000 5.00 90 81224 3.64 120000 5.38 -19388 22300 50.00 121 56251 3.75 0 0.00 45001 15000 80.00 120 0 0.00 0 0 6.00 130 0 0.00 0 0 6.00 130 0 0.00 14903 40000 4.00 130 102898. 5.26 84500. 4.32 19570. 16.99 111. 15640. i L r i 7 PRO FORMA ASSUMPTIONS (Annualized Information) Gross Profit Labor Repairs & MNX Utilities Rent Ground costs Building costs Soft costs Loan constant Fixtures Equipment Installation Total Leasehold Improvements Inventory Depreciation 21.5% 10.5% and 11.5% $1.20 /SF = $18,000 $3.00 /SF $55,000 $66,000 0 52,500 SF x $2.00 $ 30.00 /SF Same 11% of bldg. 11% of bldg. 11% 11% $20.00 /SF $ 300,000 $10.00 /SF $ 150,000 $ 450,000 $ 3.00 /SF $ 45,000 $ 7.50 /SF $ 112,500 $ 300,000 x 20% _ $ 60,000 (equipment) SALES Grocery Meat Produce Dairy Deli TOTAL SALES GROSS PROFIT Grocery Meat Produce Dairy Deli GROSS PROFIT CONTROLLABLE EXPENSES Chanhassen Supermkt. PAGE 1A Feasibility study 03/02/83 $611168 S'T'ORE VOLUME.* 10.::7. I...APOR F °r1C.I10R, 3.180.000 100.00% 371607000 100.00% 371807000 100.00% 371807000 100.007 37180x000 100.00% 37180x000 100.00% 6837700 21.50% 6837700 21.50% 6837700 21.50'%. Salaries 3187000 10.007 3187000 10.00% 3187000 10.00% Taxes- Payroll 157900 0.50% 157900 0.50% 157900 0.50% Adv. - Media 157900 0.50% 157900 0.50:: 157900 0.50;: Store Supplies 197080 0.60% 197080 0..501% 197080 0.60% Repair 8 Naint 187000 0.577 181000 0.57% 187000 0.57% Utilities 457000 1.42% 45POOO 1.427 457000 1.42: Misc. 67360 0.20% 67360 0.20% 67360 0.20% Total Controllable Exp. 4387240 13.78:: 4387240 13.78% 4387240 13.78% FIXED EXPENSES Rent 0 0.007 5`;7000 1.73% 667000 2.08% Depreciation 607000 1.89% 607000 1.89% 60,006 1.89% License /Taxes 17000 0.037 17000 0.0371 17000 0.03% Total Fixed Expenses 617000 1.927 1167000 3.65% 12,000 3.99" TOTAL OPERATING EXP. 4997240 15.707 5547240 17.43% 5657240 17.77%. Other Income /(Loss) 0 0.00% 0 0.00% 0 0.00"1. Warehouse /Transport 797°00 2.50;: 797500 2.50% 799500 2.50% TOTAL NET INCOME 1047960 3.30:: 497960 1.57:: 38x960 1.23% Fixtures and Install 4507000 14.15% 450,000 14.157 4507000 14.15X Leasehold 457000 1.42% 457000 1.42% 457000 1.42;: Inventory 1127500 3.54;! 1127500 3.54% 1127500 3.54% Investment 6077500 19.10% 6077500 19.10,1: 6077500 19.10;: Return on Investment 17.28% 8.22% 6.41% Retail Systems Inc. ---- All rights reserved SALES Grocery Meat Produce Dairy heli — TOTAL SALES GROSS PROFIT Grocery Meat Produce Dairy Deli GROSS PROFIT CONTROLLABLE EXPENSES Salaries Taxes- Pavroll Adv. - Media Store Supplies Repair 8 Maint Utilities Misc. Total Controllable Exp. t FIXED EXPENSES r- Rent Depreciation License /Taxes j� Total Fixed Expenses ''UTAL OPERATING EXP. Other Income /(Loss) Warehouse /Transport �OTAL NET INCOME Fi;;tures and Install Leasehold ]Inventory Investment 7turn on Investment 7 i (� Retail Systems Inc Chanhassen Supermkt• PAGE 18 Feasibility studs 03/02/83 $611:1.68 STORE Vf:1l.UMF, L 1 .:3% I A B 0 R FACTOR 3FIBO /000 100.00% 3,180,000 100.00% 3,180x000 100.00% 3,1801000 100.00% 3,184,000 100.00% 3x180,000 100.00% 683,700 21.50% 6839700 21.50% 683x700 21.50% 349,800 11.00:'. 349,800 11.00% 349,800 11100% 15,900 0.50% 15,900 0.507 151900 0.50" 15,900 O.JO7 15X900 0.50:/. 157900 0.507 191080 0.60% 19,080 0.60''. 19,080 0.607 18,004 0.57% 18,440 0.577 18,000 0.577 45,000 1.42% 45,000 1.421"/ 45,000 1.42 "' 67360 0.207 6,360 0.207 6,360 0.20% 470,040 14.70% 470,040 14.78% 4701040 14.787 0 0104% 55,000 1.73% 66,000 2.08'!. 60,000 1.89% 601000 1.89% 601000 1189% 1,000 0.03% 1,000 0.437 1,000 0.03"/. 611000 1.92% 116,000 3.65% 127,000 3.99'X. 531,040 16.707 586,040 18.43% 597,040 18.77% 0 0.04% 0 0.007 0 0.40% 791500 2.50" 79,500 2.50X. 79,504 2.50" 731160 2.30% 18,160 0.577 7x150 0.23:: 450,000 14.15% 450,000 14.15% 450,000 14.157 451000 1.42% 451000 1.42% 45,000 1.42:: 1.129500 3.541-: 1129504 3.54% 112x504 3.54% 6071500 19.10% 6071500 19.10% 607,500 19.14% 12.04% All rishts reserved SALES Grocery Heat Produce Lain De Ii TOTAL SALES GROSS PROFIT Grocery Heat Produce Dairy Deli GROSS PROFIT CONTROLLABLE EXPENSES Chanhassen Supermkt. PAGE ?,A Feasibility studu 03/02/83 x667,1£34 STORE VOLUME 10.5% LABOR FACTOR 3,494.000 100.00% 3,494,000 100.00% 3,494.000 100.00% 3,494,000 100.00% 3,494,000 100.00% 39494,000 100.00% 751,210 21.50% 751,210 21.50% 751,210 21.507 Salaries 349,400 10.00% 549,400 10.00% 349,400 10.007 Taxes- Pawroll 171470 0.50% 17,470 0.50% 17,470 0.50% Adv. - Media 17,470 0.50% 17,470 0.50 %: 17,470 0.50i Store Supplies 20,964 0.60 %: 20,964 0.60% 20,964 0.607 Repair 8 Maint 18,000 0.52 %: 16,000 0.52% 18,000 0.52% Utilities 45,000 1.29% 45,000 1.29%.'. 45,000 1.29; Misc. 6,988 0.20% 6,988 0.20% 0988 0.207 Total Controllable EXp, 475,292 13.60% 475,292 13.60% 475,292 13.60" FIXED EXPENSES Rent 0 0.00% 55,000 1.57% 66,000 1.89%: Depreciation 60,000 1.72% 60,000 1.72% 60,006 1.72: License /Tares 1,000 0.03%: 1,000 0.03% 1,000 0.07. Total Fixed Expenses 61,000 1.75% 116000 3.32 %: 127000 3.63: TOTAL OPERATING EXP. 5367292 15.35% 591,292 16.92 %: 602,292 17.24; Other Income /(Loss) 0 0.00% 0 0.00 %: 0 0.007 Warehouse /Transport 87,350 2.50% 87050 2.50; 87,350 2.50% TOTAL NET INCOME 127,568 3.65% 72,568 2.08' %. 61,568 1.76% Fixtures and Install 450,000 12.88 %: 450,000 12.88% 480,000 12.80. Leasehold 45,000 1.29% 45,000 1.29% 45,000 1.29X Invent.orw 112,500 3.22 %s :112,500 3.22 %: 112,500 3,227' Investment 607,500 17.39: 607,,`,00 17.39% 607,500 17.39: Return on Investment 21.00 %: 11.951% 10.13% Retail Swstems Inc. - -- All rishts reserved Chanhassen Supermkt, PAGE 28 Feasibility study 03/02/83 9:67,:1.84 ':17ORE Vol (jMIE I. J..;:SY„ L_ATitOR f °AC "F'Oh SALES 3,494.000 100.00% 37494,000 100.00% 3,494,000 100.00% Grocery Meat Produce Dairy Deli TOTAL SALES 3,494,000 100.00% 3,4942000 100.00% 3,494,000 100.00% GROSS PROFIT r Grocery Meat Produce Dairy Deli GROSS PROFIT 751,210 21.50% 751,210 21.50% 751,210 21.50% CONTROLLABLE EXPENSES Salaries ��1 384,340 01.00 % 384,340 11.00% 3649340 11.00% Taxes - Payroll hm 17,470 0.50% 17,470 0.50% 17,470 0.50': Adv. - Media 17,470 0.50% 17,470 0.507 179470 0.50% _ Store Supplies 20,964 0.60% 20,964 0.60% 209964 0.60 %. Repair 8 Maint 18,000 0.527 1S,000 0.52% 187000 0,52" Utilities 457000 1.29% 45,000 1.29% 45,000 1.29% Misc. 6,988 0.20' /. 6,988 0.20% 67988 0.207 Total Controllable Exp. 510,232 14.60% 510,232 14.60; 510,232 14.60% I FIXED EXPENSES Rent 0 0.00% 55,000 1.57% 66,000 1.89'•: Depreciation 60,000 1.72% 60,000 1.72% 60,000 1.72'1. f License /Taxes 11000 0.03% 17000 0.03% 17000 0.037 _ Total Fixed Expenses 61,000 1.75% 116,000 3.327 127,000 3.637 OTAL OPERATING EXP. 571,232 16.35; 6269232 17.92% 637,232 18.24'!. I Other Income /(Lass) 0 0.007 0 0.00% 0 0.002 Warehouse /Transport 87,350 2.507 87,350 2.507 87,350 2.50" TOTAL NET INCOME 92,628 2.65% 37,628 1.08; 26,628 0.76:! ` Fixtures and Install 450,000 12.887 450,000 12.887 450,000 12.88% Leasehold 45,000 1.297 45,000 1.29': 45,000 1.2914 7 Inventory 112,500 3.22% 112,500 3.22% 112,500 3.22% Investment 607,500 17.39% 607,500 17.39% 607,500 17.39" ,Return on Investment 15.25" 6.19% 4.38% — Retail Systems Inc. - -- All ri5hts reserved Chanhassen Supermkt. PAGE 3 Feasibility study / 03/15/83 347283 STORE VOI UMF: CfaFTcP. Mw CUB Stoe6 � go � (off � � 10) 5X I..ADOR FACTOR ASR NO AKLEaAuvM�� Hw6S-/1 -4%) SALES 17809x000 100.00'%. 198099000 100.00% 198099000 100.00: Grocery Meat Produce Pairs Deli TOTAL SALES 1)8099000 100.00% 1x8099000 100.00% 176099000 100.00: GROSS PROFIT Grocery Meat Produce Dai ry Deli GROSS PROFIT 3889935 21.50% 38Bx935 21.50% 3687935 21.50:' CONTROLLABLE EXPENSES Salaries 1809900 10.00% 1809900 10.00% 1809900 10.00; Taxes- Payroll 99045 0.50% 99045 0.50% 99045 0.507 Adv. - Media 99045 0.507 99045 0.50% 99045 0.507 Store Supplies 109854 0.60% 109854 0.60% 109854 0.60; Repair & Maint 189000 1.007 189000 1.007 189000 1.007 Utilities 459000 2.49% 459000 2.49% 459000 2.497 Misc. 39618 0.20% 39618 0.20% 39618 0.20; Total Controllable Exp. 2769462 15.28% 2769462 15.287. 2769462 15.28% FIXED EXPENSES Rent 0 0.003 0 0.00% 559000 3.041 Depreciation 0 0.00% 609000 3.32% 609000 3.32% License /Taxes 19000 0.067 19000 0.06% 19000 0.067 Total Fixed Expenses 19000 0.067 619000 3.37 %. 1169000 6.411 TOTAL OPERATING EXP. 2779462 15.34% 3379462 18.65% 3929462 21.69% Other Income /(Loss) 0 0.00% 0 0.007 0 0.00 Warehouse /Transport 459225 2.50% 459225 2.50% 459225 2.507 TOTAL NET INCOME 669248 3.66:: 69248 0.35% (489752) (2.69) Fixtures and Install 4509000 24.88% 4509000 24.88% 4509000 24.88% Leasehold 459000 2.49% 459000 2.49% 459000 2.497. Inventory 1129500 6.227 1129500 6.22% 1129500 6.22% Investment 6079500 33.58% 6079500 33.587 6079500 33.587 Return on Investment 10.91% 1.03% (8.03)% CHANHASSEN HOUSING & REDEVELOPMENT AUTHORITY '-' 690 COULTER DRIVE • P,O. BOX 147 • CHANHASSEN. MINNESOTA 55317 ,u® • (61 2) 937-1900 MEMORANDUM TO: Chanhassen Hous-ing and Redevelopment Authority FROM: Scott A. Martin, Executive Director DATE: March 17, 1983 SUBJ: Feasibility Study for Adaptive Reuse of the old Instant Web Facility. Enclosed for your review is the above referenced feasibility study, which has been prepared for the HRA by BRW, Inc. Chairman Gullickson and Mayor Hamilton, as members of the Downtown Project Steering Committee, had an opportunity to review this study in draft form at a committee meeting at BRW's offices on March 8th. Although a number of questions surfaced at this meeting, no changes to the study were recommended. Mark Swenson, Architect for BRW, Inc. and chief author of the study, will make a brief summary presentation of the study at your March 24th meeting. I urge you to read through the report and jot down any questions or comments you may have in advance of this meeting. I would expect that this issue will generate a great deal of discussion' given the number of alternatives addressed in the study. u i CHANHASSEN HOUSING & REDEVELOPMENT AUTHORITY 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317 101 u (61 2) 937-1900 MEMORANDUM TO: Chanhassen Housing and Redevelopment Authority FROM: Scott A. Martin, Executive Director DATE: March 17, 1983 SUBJ: Special Assessment Reduction Program Agreement for Chanhassen Lakes Business Center (Alscor Joint Venture No. II, developer). Attached for your review and approval is the proposed Assessment Agreement for the "Chanhassen Lakes Business Center" which is currently under construction by Opus Corporation on Lots 4 and 5, Block 5, of the Business Park. (See attached location map). This project consists of a single -story 51,140 square foot office /ware- house /manufacturing complex which is designed for multiple tenancy. Completion of the project is anticipated around June 1, 1983. A copy of the building plans will be avai]abLe for your review at the March 24th meeting. - The County Assessor has established a total minimum market value of $1,201,000 for this project. The vacant land value is presently set at $125,400. The HRA's special assessment reduction obligation for this project is calculated in the following manner: $1,201,000 - $125,400 = $1,075,600 x 7% = $75,292 However, the total current outstanding special assessments on this site is $75,288.02, which therefore becomes the maximum assessment payment obligation of the HRA. r These assessments are currently scheduled for repayment over the " next 13 years at a 13% interest rate. This repayment schedule has r already been incorporated into the Tax Increment Financing Plan recently prepared by the City's Accountants. Advance prepayment of the outstanding balance in one lump sum is not feasible according to the accountants. Recommendation Adoption of Resolution #83 -2 approving the Assessment Agreement and authorizing its execution by the Chairman and Executive Director is recommended. Attachments 1. Resolution #83 -2. 2. Project Location Map. 3. Copy of Assessment Agreement. i HOUSING AND REDEVELOPMENT AUTHORITY OF CHANHASSEN, MINNESOTA RESOLUTION Dated March 24, 1983 Resolution No. 83 -2 Motion by Seconded by RESOLUTION APPROVING ASSESSMENT AGREEMENT FOR CHANHASSEN LAKES BUSINESS CENTER WHEREAS, ALSCOR JOINT VENTURE NO. II, (the "Redeveloper "), owner of the following described real property: Lots 4 & 5, Block 5, CHANHASSEN LAKES BUSINESS PARK, Carver County, Minnesota, r have tendered to this Authority a proposed assessment agreement, pursuant to Modification No. 5 to the Chanhassen Downtown Redevelopment Plan, providing for the construction of certain improvements within the Chanhassen Downtown Redevelopment Project Area. NOW, THEREFORE, BE IT RESOLVED, as follows: 1. The proposed Assessment Agreement is hereby approved as consistent with the Authority's Special Assessment Reduction Program. 2. The Chairman and Executive Director of the Authority are hereby directed and authorized to execute on behalf of the Authority said assessment agreement in the form attached hereto and made a part hereof, as Exhibit A. 3. The Chairman and Executive Director are hereby specifically authorized to make assessment reduction payments pursuant to said assessment agreement on the basis of the Minimum Market I Value set forth in Section 3.3, and as computed in Section 3.2 I of said agreement. 4. The amount of the assessment reduction payment under said assessment agreement is hereby determined to be $75,288.02 which amount is based upon the Authority's determination that outstanding levied eligible assessments total $75,288.02. Passed and adopted this 24th day of March , 1983, by the Housing and Redevelopment Authority of the City of Chanhassen, Minnesota. ATTEST r Executive Director Chairman Yes: No: Absent: I N.s„r d,N6 ,l5.c.N r°err5 an re.e,n /BoeBZN xre»o/ e/ 5.• r4 5L rry -..r <a.wy nwi,n,mrl ee>.l niueN°„ra„n % fill °l'.5b/e NgS.yrbs m, F, "LJ� /�.rvw o%s.c +h. °�xut,ncr cs ar TAT£,n" - K/6HWAY -NP. 1,�; r�e V, e l! � 3' y� 2 z l :fx n•F" y' "' "2 , -- ______` x 7 oc� Ol ��• �'° ! pG = ce +� did: IIrr,�;xn i. ;s Y Ot -w�xirc r�VrA V .t ", p•.' :.vl;l�.ti,. Ilk '8'.{, /l ` �;';e','ilr' / x •R r �r 3 4 ,.•� .c'°''•:'i ,•sue �cG xm"a's✓g j,, e, t S / W • '/ i 7a. == ;i�, w �f �c. � 5 °LrY ,�• " `i:` s ..^ ate' y x � �'< � � `. •^� •:y+qa $, s r'4 } } °•' . � a >•( r„ "°�°�8: ✓ i�.tc _ B�" 0UTLO7-3 tz Oq "..rn^o- c•a:n �. 'B. �yw; {: ". ! .a+°e Q¢' 'r :y�. • �'3 i I °a,` �� I // L� N• �,..'a >, � _map• �� a`e 8 .e - gyp, ��^ SZT6 OF s_ �_- ;x... HA K Q uSt N ESS' H (no SCAB xx . >' °�' C N. to � s. w o/ Ow% 0! Sec w 2� ®WA �aOv J M �W°' > N_ /1f W ❑° V ® � z �W2 CL ca a �p C //•J C UJ O rr�� Y, W Y. z m ci E ®0 • 0 O 2/14/83 DFv ASSESSMENT AGREEMENT THIS AGREEMENT, made on or as of the 24th day of March , 1983 , by and between The Housing I and Redevelopment Authority i-n-a--n-d for the City of Chanhassen, a public body corporate and politic (the "Agency "), established r pursuant to Laws of Minnesota 1947, Chapter 487, as amended, being Minnesota Statutes, Sections 462.411- 462.711 (the "Act "), and_Alscor Joint Venture No. II, a Minnesota partnership r(the "Redeveloper "). WITNESSETH: r WHEREAS, the Agency was created pursuant to the Act and was authorized to transact business and exercise its powers by a resolution of the City Council of the City of Chanhassen (the "City "), and WHEREAS, in furtherance of the objectives of the Act, - the Agency has undertaken a program fbr the clearance and reconstruction or rehabilitation of blighted, deteriorated, deteriorating, vacant, unused, underused or inappropriately used _ areas of the City, and in this connection is engaged in carrying out a redevelopment project known as the Chanhassen Downtown ( Redevelopment Project (the "Project "), in an area (the "Project Area "), located in the City; and WHEREAS, as of the date of this Agreement there has been prepared and approved by the Agency and the City a redevelopment plan for the Project; and WHEREAS, the Agency requested the County of Carver (the "County ") to certify the current assessed value of the:, real property within the Project Area pursuant to Section 462.585 of the Act thereby establishing the Project as a tax increment financing district; and WHEREAS, the major objectives of the Redevelopment Plan are to: acquire for rehabilitation economically or functionally obsolete or underutilized buildings and land; provide a redevelopment site of a character that will encourage future development of the area and improve sources of public revenue; elimiate blighting influences which impede potential development within the aforementioned redevelopment project; - provide maximum opportunity for redevelopment by private enterprise, consistent with the needs of the City as a whole; encourage private rehabilitation of structures within the redevelopment project; and WHEREAS, in order to achieve the objectives of the Redevelopment Plan and particularly to make the land in the Project Area available for redevelopment by private enterprise for and in accordance with the uses specified in the Redevelop- ment Plan, the Agency has determined to provide substantial aid and assistance to the Project through the sale of bonds to finance the public costs of the redevelopment of the Project Area; and WHEREAS, the Agency believes that the redevelopment of a portion of the Project Area pursuant to this Agreement, and fulfillment generally of the Agreement, are in the vital and best interests of the City and the health, safety, morals, and welfare of its residents, and in accord with the public purposes and provisions of the applicable state and local laws and requirements under which the Project has been undertaken and is being assisted; and WHEREAS, the Agency has concluded agreements for the redevelopment of the various properties to be acquired in further- ance of the Project; and WHEREAS, said aareements provide recourse for the Agency should such redevelopment not be completed; and WHEREAS, Section 273.76(Subd.8) of Minnesota Statutes empowers the Agency to enter into written assessment agreements with redevelopers of properties within the Project Area; and WHEREAS, it is contemplated that pursuant to this Agreement, the Redeveloper will construct certain minimum improvements upon the Redevelopment Property; and WHEREAS, the Agency, and the Redeveloper desire to establish a Minimum Market Value for the Redevelopment Property and the Minimum Improvements to be constructed thereon pursuant to Minnesota Statutes, §273.76, Subd. 8, and §462.445, Subd.4 (1, and 16); and WHEREAS, the Agency and the Assessor have reviewed the Construction Plans for the Minimum Improvements; and WHEREAS, the Assessor, acting pursuant to §273.76, Subd. 8 of Minnesota Statutes, has executed a Certification By Assessor as to the Redevelopment Property and the Minumum Improvements to be constructed thereon; and WHEREAS, the original copy of said Certification By Assessor, or a true and correct copy thereof is attached to this Aareen•,ent as Exhibit C and made a part hereof: -2- NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: ARTICLE I. DEFINITIONS. Section 1.1 Definitions. In this Agreement, unless a different meaning clearly appears from the context: "Act" means the Municipal Housing and Redevelopment Act, Minnesota Statutes, Sections 462.411 et seq., as amended. "Agency" means the Housing and Redevelopment Authority in and for the City of Chanhassen. "Agreement" means this Agreement, as the same may be from time to time modified, amended, or supplemented. "Assessment Agreement" means any agreement substantially similar to this Agreement providing for payment by the Agency of eligible assessments from the tax increments received by the Agency in connection with the Project. "Assessment Reduction Payments" means payments made by the Authority to either the City or to the County's auditor, as a credit against eligible assessments, pursuant to Article IV of this Agreement or pursuant to agreements similar to this Agreement with other redevelopers of land in the Project Area. "Assessed Value value of real property as accordance with Minnesota adjusted by any assessor, of revenue, or any court) is imposed. or "Assessed Valuation" means the determined by the assessor in Statutes, Section 273.13 (or as finally board of equalization, commissioner against which the real property tax 1. "Assessor" means the Carver County Assessor or a Cit_v Assessor having the powers of the Carver County Assessor as to properties within the Project Area. "Bonds" means the general obligation bonds or obligations issued by the City or the Agency to finance the costs of the Project including but not limited to the Assessment Reduction Payments made by the Authority pursuant to Modification No. 5 to the Plan. The term "Bonds" shall also include any general _ obligation bonds or obligations issued to refund anv Bonds. "Certification By Assessor" means the Assessor's certification pursuant to Section 273.76, Subd. 8 of Minnesota r Statutes, and Section 3.3 of this Agreement that he has reviewed `r the Construction Plans for the Minimum Improvements and the I F -3- I Market Value previously assigned to the Redevelopment Property, and that upon completion of said Minimum Improvements the market value assigned to the Redevelopment Property shall not be less than a specified dollar amount stated therein, and that the Market Value of the Redevelopment Property as of the date of execution of such certification is a specified dollar amount stated therein. "Certificate of Occupancy" means the certification provided to the Redeveloper, or the purchaser of any part, parcel or unit of the Redevelopment Property, pursuant to Section 4.2 of this Agreement. "City" means the City of Chanhassen. "Construction Plans" means the plans, specifications, drawings and related documents on the construction work to be performed by the Redeveloper on the Redevelopment Property which (a) shall be at least as detailed as the plans, specifications, drawings and related documents which are submitted to the building inspector of the City, and (b) shall include at least the following for each building: (1) site plan, (2) foundation plan; (3) basement Plan (if any); (4) floor plan for each floor; (5) cross sections of each (length and width); (6) elevations (all sides); (7) landscape Plan. "County" means the County of Carver. "Date of Execution" means the date on which the Redeveloper signs this Agreement or the date on which the Agency signs this Agreement, whichever is later. "Eligible Assessments" means those special assessments (and those unlevied lateral unit charges and trunk unit charges) which are more particularly described in Modification No. 5 to the Plan, and which have been imposed by the City on tracts of lands contained within the plats of Chanhassen Lakes Business Park and Park II in connection viith either City of Chanhassen Improvement Project 79 -3 or in connection with any other City public improvement project which specially benefits said tracts of land within said plats. The term "Eligible Assessments" does not include any building permit fees, any park charges owing to the City under applicable ordinances, or any availability or connection charges owing to the City pursuant to Section 444.075 of Minnesota Statutes or other applicable statutes or pursuant to applicable Citv Ordinances, or any sewer availability charges or similar charges imposed by the Metropolitan Council or Metropolitan Waste Control Commission or similar governmental unit. The term "Eligible Assessments" does not include any interest imposed by the Citv in connection with special assessments, unleviee lateral uni -t charges, or unlevied trunk unit charges. "Event of Default" means an action by the Redeveloper listed in Article VI of this Agreement. -4- r l "Market Value" or 'Market Valu8tion" means the estimated fair market value of real property as determined by the Assessor in accordance with Minnesota Statutes, Section 273.11 (or as finally adjusted by any assessor, board of equalization, commis- sioner of revenue, or any court). "Maturity Date" means the date when the principal of, premium (if any), and interest on the Bonds are paid in full. "Minimum Improvements" means those improvements which are more particularly described on Exhibit A attached hereto and made a part hereof. "Minimum Market Value" means Market Value established pursuant to Section 3.3 of this Agreement. "Modification No. 5" means the fifth amendment to the Plan adopted by the Agency establishing a program of Assessment r Reduction Payments and the resolution adopting the same. "Plan" means the Chanhassen Downtown Redevelopment Plan as described in the "Chanhassen Downtown Redevelopment Project Amended Plan, February, 1980, Revised March 20, 1980" booklet, as further amended from time to time by the Agency. "Project" means the Chanhassen Downtown Redevelopment Project as described in the Chanhassen Downtown Redevelopment Project Amended Plan, February 1980, Revised March 20, 1980" booklet, as further amended from time to time by the Agency. "Project Area" means the real property located within the boundaries of the entire redevelopment district as described in Figure 1 contained in the "Chanhassen Downtown Redevelopment ` Project Amended Plan, February, 1980, Revised March 20, 1980" booklet. "Project 78 -3 Assessments" means the costs of City of Chanhassen Improvement Project 78 -3 which were specially assessed against benefited real property pursuant to Chapter 429 of I Minnesota Statutes. "Real Estate Taxes" means ad valorem taxes on real property pursuant to Chapter 273 of Minnesota Statutes and not including any special assessments levied pursuant to Chapter 429 of Minnesota Statutes. I "Redeveloper" means Alscor Joint Venture No. II, or its successors and assigns. "Redevelopment Property" means the real property which is more particularly described on Exhibit B attached hereto r and made a part hereof. "Redevelopment Plan" means the Plan. l -5- f "State" means the State of Minnesota. "Substantial Completion" means sufficiently complete, in accordance with the Construction Plans for the Minimum Improvements, so that the Redeveloper (or his successors and assigns) may occupy the work for the use for which the Minimum Improvements are intended. If the Minimum Im_rovements are to be occupied by one or more tenants rather than Redeveloper and no leases have been entered into with any tenants that would serve as the basis for constructing and installing interior improvements in the Minimum Improvements, then "Substantial Completion" shall mean that the structure, common building systems and utilities are substantially complete so that a Certificate of Occupancy may be obtained by Redeveloper upon completion of the construction and installation of normal and customary interior improvements for the benefit of tenants occupying space in the Minimum Improvements. "Tax Official" means any City or Countv assessor, county auditor, City, County or State board of equalization, the commissioner of revenue of the State, or any state or federal district court, the tax court of the State, or the State Supreme Court. ARTICLE II. REPRESENTATIONS AND WARRANTIES Section 2.1 Representations by the Agency. The Agency makes the following representatio:.s as the basis for the undertaking on its part herein contained: (a) The Agency is a housing and redevelopment authority duly organized and existing under the laws of the State. (b) The Project is a "redevelopment project" within the meaning of the Act and was created, adopted and approved -in accorcance with the terms of the Act. (c) The Project is a "tax increment district" created, adopted, certified and approved pursuant to Minnesota Statutes, Section 462.585. (d) The Agency has established the Project Area as a "tax, increment district" and has requested that the County auditor of the County certify the Assessed Valuation of all taxable real property in the Project Area pursuant to Minnesota Statutes, Section 462.585. (e) The activities of the Agency are undertaken for the purpose of removing, preventing or reducing blight, blighting factors, or the causes of blight, and for the purposes of eliminating or preventing the development or spread of deteriorated or deteriorating areas. (f) To finance undertaken by the Agency, of Bonds issued either by increment generated by the principal of and interest the cost of the activities to be the Agency proposes to use the proceeds the City or the Agency and to pledge tax Project Area to the payment of the on the Bonds. -6- Section 2.2 Representations and Warranties by the Redeveloper. The Redeveloper represents and warrants that: (a) The Redeveloper is a partnership duly organized and in good standing under the laws of the State of Minnesota, is not in violation of any provisions of its articles 9f partnership, or the laws of the State of Minnesota; has power to enter into this Agreement and has duly authorized the execution, delivery and performance of this Agreement by proper partnership action. (b) The Redeveloper will construct the•Minimum Improvements in accordance with the terms of this Agreement, the Plan and all local, state and federal laws and regulations r (including, but not limited to, all known applicable environmental, zoning, building code and public health laws and regulations), as such laws and regulations are enacted and enforced during the period the Minimum Improvements are being constructed, and II^ substantially in accordance with the Construction Plans which have been approved by the Agency. (c) The Minimum Imorovements constitute a permitted use or authorized conditional use under the zoning ordinance of the City, a permitted use under the Plan and the Act. (d) That at such time or times as may be required by law, the Redeveloper will have complied with all known applicable local, state and federal environmental laws and regulations, j^ will have obtained any and all known applicable environmental i reviews, licenses or clearances as to the Redevelopment Property, and that Redeveloper has received no notice or communication r from any local, state or federal official that the activities of the Redeveloper in the law or regulation (other than those notices or communications of which the Agency is aware). The Redeveloper is aware of no facts the existence of which would, cause it to be in violation of any local, state or federal environmental law, regulation or, review procedure or which would give.any person a valid claim under state environmental rights statutes. (e) The Redeveloper will use all reasonable efforts to construct the Minimum Improvements in accordance with all r existing local, state or federal energy- conservation laws or regulations. (f) The Redeveloper will obtain, in a timely manner, all required permits, licenses and approvals, and will meet, in a timely manner, all requirements of all local, state and federal laws and regulations which must be obtained or met before the Minumum Improvements may be lawfully constructed. (g) The real estate taxes and any installments of special assessments levied against the Redevelopment Property are not in default and that future real estate taxes will be paid when due. -7- Rev. 5/11/82 ARTICLE III. ASSESSMENT REDUCTION PAYMENTS. Section 3.1 Obligation of Agency to Make Assessment Reduction Payments. Upon completion of the Minimum Improvements and issuance of the Certificate of Occupancy, the Agency, from the tax increment generated by the Project shall make payments (in the manner and in the amount provided hereinafter) in reduction of the eligible assessments which have been imposed on the Redevelopment Property and which were unpaid upon the date of execution of this Agreement. The Agency, at its option, may satisfy its obligations to make assessment reductions payments under this Agreement by either making one lump sum payment or by making a series of semi - annual pavments as individual installments of eligible assessments become due and owing to the City. In the event that the Agency elects to make said assessment reduction. payments in the form of a series of semi- annual payments as individual installments of eligible assessments become due and owing to the City, the Agency shall also pay the interest imposed thereon by the City; but only that portion of such interest which is attributable to that portion of anv such installment which the Agency is obligated to pay under this Agreement. Any such payments of interest shall not be a credit against the amount of any assessment reduction payment which the Agency is obligated to make under this Agreement. In the case of eligible assessments which have then already been certified to the County's auditor for collection with real estate taxes, said assessment reduction payments, tocether with anv interest which the Agency is obligated to pav under this Section 3.1, shall be made directly to the County Auditor in full or partial satisfaction, as the case may be, of said eligible assessments. In the case of eligible assessments which have not -, then been certified to the County's auditor for collection with real estate taxes, said assessment reduction payments, together with any interest which the Agency is obligated to pay under this Section 3.1, shall be made to the City's treasurer in full or partial satisfaction, as the case may be, of said eligible assessments. In the case of eligible assessments which have been paid by the Redeveloper subsequent to the date of execution of this Agreement, said assessment reduction payments, together with any interest which the Agency is obligated to pay under this Section 3.1, shall be made directly to the Redeveloper or its designated successors and assigns. .:VV. J /„_1/6L Rev. 5/2.0/82 Section 3.2 Amount of Assessment Reduction Payment. The — amount or any assessment reauction payment made pursuant to this Agreement shall be Seventy -five Thousand Two Hundred Eighty- and 021100 Dollars ($75,288.02) wiu ch amount is computed as the lesser of the following amounts: (a) the sum of the principal balance of the eligible assessments imposed on the Redevelopment Property, together with accrued interest thereon, both principal and interest being computed as of the date of execution of this r- Agreement; or (b) seven percent (7 %) of the excess of the Minimum Market Value of the Redevelopment Property and the Minimum Improvements constructed thereon as established pursuant to Section 3.3 of this Agreement over the Market Value of the Redevelopment Property as of the date of execu- tion of the Certification By Assessor, and as certified in said certification., Section 3.3 Minimum Market Value to Be Used In Real Estate Taxes. Upon completion of the Minimum Improvements by the Redeveloper, the Minimum Market Value which shall be assessed for the Redevelopment Property and the Minimum Improvements thereon shall be One million two hundred and one thousand and no /100 (hereinafter the Minimum Market Value). The Minimum Market Value established in this section shall be of no further force and effect and this Agreement shall terminate on the later of the two following dates: (a) the date on which the Bonds are retired, or (b) the date on which all assessment reduction payments due the Redeveloper (or his successors and assigns) pursuant to this Agreement have been made. In any event this Agreement shall terminate no later than November 28, 2007. Provided, however, that nothing in this Agreement shall limit the discretion of the Assessor to assign a market value to the Redevelopment Property in excess of the Minimum Market Value set forth in this section, nor prohibit the Redeveloper from seeking, through exercise of administrative, and legal remedies, a reduction in market value for property tax purposes; subject, however, to the restriction that the Redeveloper shall not seek any reduction in said market value below the Minimum Market Value, as set forth in this section, during the term of this Agreement regardless of actual market value which may result from incomplete construction of the Minimum Improvements, destruction or diminution by any cause, insured or uninsured, except in the case of acquisition or reacquisition of the Redevelopment Property by a public entity. Section 3.4 Termination of Entitlement to Payment. Notwithstanding any language in this Agreement to the contrary, the obligation of the Agency to make any assessment reduction payment to the Redeveloper (or its successors and assigns) shall become null and void on September 1 , 1983, unless the Minimum Improvements are in a state of Substantial Completion (as defined in Section 1.1) on or before said date. Nevertheless, in the event Redeveloper is delayed in substantially completing the construction of the Minimum Improvements on or before the date specified herein by reason of labor disputes, casualties, acts of God or the public enemy, governmental embargo restrictions, short- ages of fuel, labor or building materials, action or non - action of public utilities or of local, state or federal governments affecting the work, or other causes beyond the reasonable control or fault of Redeveloper, then the date for substantial completion of the Minimum Improvements shall be extended for the additional time caused by such excused delay. Any such extension resulting from an excused delay shall not serve to extend the effective date of the Minimum Market Value or the real estate taxes levied with respect to the Minimum Market Value provided for in this Agreement. In the even*_ the Minimum Improvemen *_s are not in a state of Substantial Completion on or before the date specified herein or such extension thereof as may result from an excused delay, and as a result thereof the Agency elects not to make any assessment reduction payment in accordance with the terms of this Agreement, then this Agreement shall cease and terminate 4 without further obligation or liability on the part of the Agency or Redeveloper. ARTICLE IV. CONSTRUCTION OF MINIMUM IMPROVEMENTS Section 4.1 Construction of Minimum Improvements. The Redeveloper agrees that it will construct the Minimum Improvements on the Redevelopment Property and at all times prior to the Maturity Date will not cause a reduction in the real estate taxes Paid in respect of the Redevelopment Property below the real estate taxes that would be assessed with respect to the Minimum Market Value through: (a) willful destruction of the Minimum Improvements or any part thereof; or (b) willful refusal to reconstruct the Minimum Improvements if the Minimum Improvements are damaged or destroyed. I■ r i t I I F 1 l Section 4.2 Certificate of Occupancy. (a) Promptly after completion of the Minimum Improvements in accordance with the provisions of this Agreement the Agency, upon the written application of the Redeveloper, will furnish the Redeveloper with an appropriate Certificate of Occupancy executed by the City's Building Official and by the Agency's Executive Director so certifying. Such certification by the Agency shall be a conclusive determination of satisfaction and termination of the agreements and covenants in this Agreement to construct the Minimum Improvements. Such certification and such determination shall not constitute evidence of compliance with or satisfaction of any of the Redeveloper's obligations to anv holder of a mortgage or to any insurer of a mortgage, securing money loaned to finance the Minimum Improvements, or any part thereof. (b) If the Agency shall refuse or fail to provide any certification in accordance with the provisions of this Section 4.2 of this Agreement, the Agency shall, within fifteen (15) days after written request by the Redeveloper, provide the Redeveloper with a written statement, indicating in adequate detail in what respects the Redeveloper has failed to complete the Minimum Improvements in accordance with the provisions of this Agreement, or is otherwise in default, and what measures or acts it will be necessary, in the opinion of the Agency, for the Redeveloper to take or perform in order to obtain such certification. -10- (c) The construction of the Minimum Improvements shall be deemed to be completed when such Minimum Improvements are in a state of Substantial Completion as defined in Section 1.1 of this Agreement. ARTICLE V. REAL ESTATE TAXES. Section 5.1 Real Estate Taxes. The Redeveloper agrees that, upon completion of the Minimum Improvements and prior to the termination date stated in Section 3.3 of this Agreement, it will not cause a reduction in the Market Value of the Redevelopment Property and the Minimum Improvements below the amount of the Minimum Market Value and that it will not seek a reduction in the value of the Redevelopment Property and Minimum Improvements below the Minimum Market Value: (1) By seeking administrative review or judicial review of the applicability of any tax statute determined by any Tax Official to be applicable to the Project or the Redeveloper or raising the inapplicability of any such tax statute as a defense in_any proceedings, including delinquent tax proceedings; (2) by seeking administrative review or judicial review of the constitutionality of any tax statute determined by any Tax Official to be applicable to the Project or the Redeveloper or raising the unconstitutionality of any such tax statute as a defense in any proceedings, including delinquent tax proceedings; (3) by willful destruction of the Redevelopment Property or any part thereof; (S) by willful refusal to reconstruct damaged or destroyed property; (5) by requesting the Assessor to reduce the Market Value or Assessed Value of all or any portion of the Redevelopment Property; (6) by petitioning the board of equalization of the City or the board of equalization of the County to reduce the Market Value or Assessed Value of all or any portion of the Redevelopment Property; (7) by petitioning the board of equalization of the State or the commissioner of revenue of the State to reduce the Market Value or Assessed Value of all or any portion of the Redevelopment Property; (8) by maintaining an action in the District Court of the State or the Tax Court of the State pursuant to Minnesota Statutes, Chapter 276, seeking a reduction in the Market Value or Assessed Value of the Redevelopment Property; (9) by applying to the commissioner of revenue of the State requesting an abatement of real property taxes pursuant to Minnesota Statutes, Chapter 270; and (10) by maintaining any other proceedings, whether administrative, legal or equitable, with any administrative body within the City, the County, or the State or with any court of the State or the federal government. The Redeveloper shall not, prior to the Mlaturity Date,.apply for a deferral of property tax on the Redevelopment Property pursuant to Minnesota Statutes, Section 273.86. -11- r 1 Nothing in this Agreement shall limit the discretion of the Assessor to assign to the Redevelopment Property a Market Value to the Redevelopment Property in excess of the Minimum Market Value established pursuant to Article V of this Agreement. However, the Redeveloper is free to contest said Market Value to the extent that it exceeds the Minimum Market Value established in Section 3.3 of this Agreement. ARTICLE VI. EVENTS OF DEFAULT. Section 6.1 Events of Default Defined. The following shall be Events of Default" under this Agreement and the term "Event of Default" shall mean, whenever it is used in this Agreement (unless the context otherwise provides), any one or more of the following events (and the term "default" shall mean any event which would with the passage of time or giving of notice, or both, be an "Event of Default" hereunder): (a) Failure of Redeveloper to pav when due any real estate taxes on the Redevelopment Property; (b) Failure of the Redeveloper to complete the r Minimum Improvements on or before the date ` stated in Section 3.4 of this Agreement. r (c) Failure by the Redeveloper to observe and perform any covenant, condition, obligation or on its part to be observed or performed hereunder, within thirty (30) days after written notice to the Redeveloper specifying such failure and requesting that it be remedied (or within such other period as otherwise expressly provided in this Agreement); or if the failure is by its nature incurable within such thirty (30) days, failure by the Redeveloper to furnish to the Agency satisfactory assurances that the Redeveloper can and will cure such failure or failures within reasonable time. (d) If the Redevelocer shall admit in writing its inability to pay its debts generally as they become due, or shall file a petition in bankruptcy or shall make an assignment for the benefit of its creditors, or shall consent to the appointment of a receiver of itself or of the whole or any substantial part of the Redevelopment Property. (e) If the Redeveloper shall file a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws. -12- (f) If the Redeveloper, on a petition in bankruptcy filed against it, be adjudicated a bankrupt, or a court of competent jurisdiction shall enter an order or decree appointing, without the consent of the Redeveloper, a receiver of the Redeveloper or of the whole or substantially all of its property, or approve a petition filed against the Redeveloper seeking reorganization or arrangement of the Redeveloper under the federal bankruptcy laws, and such adjudication, order or decree shall not be vacated or set aside or stayed within sixty (60) days from the date of entry thereof. Section 6.2 Remedies on Default. Whenever any Event of Default referred to in Section 6.1 of this Agreement occurs, the Agency may make any one or more of the following actions: (a) Cancel and rescind this Agreement. (b) Withhold the Certificate of Occupancy. (c) Cancel any pending Assessment Reduction Payments due under the terms of this Agreement, causing a forfeiture of such payments in favor of the Agency. (d) Take whatever action at law or in equity may appear necessary or desirable to the Agency to collect from the Redeveloper full reimbursement for env Assessment Reduction Payments previously made pursuant to this Agreement. Notwithstanding the prior provisions of this Section. 6.2, it is agreed that the Agency shall not be entitled to withhold a'. Certificate of Occupancy in the event that the Agency elects to cancel and rescind this Agreement under clause (a), or Redeveloper reimburses Agency for any Assessment Reduction Payments made by Agency prior to the occurrence of such Event of Default, together with any reasonable expenses incurred by Agency in enforcing the provisions of this Agreement, or Redevelo er cures any Event.of Default to the satisfaction of Agency and the parties are restored to their former positions under the provisions of this Agreement. Section 6.3 No Remedy Exclusive. No.remedy herein conferred upon or reserved to the Agency is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statutes. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the Agency to exercise any remedy reserved to it, it shall not be necessary to give notice. -13- Section 6.4 No Additional Waiver Implied by One Waiver. In l the event any agreement contained in this Agreement should be breached by either party and thereafter waived by the other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent breach hereunder. ARTICLE VII. ADDITIONAL PROVISIONS _ Section 7.1 Conflict of Interest; Agency. Representatives Not Inaiviaually Liable. No member, official or employee of the Agency shal have any personal interest, direct or indirect, in the Agreement, nor shall any such member, official, or employee r participate in any decision relating to this Agreement which affects his personal interests or the interests of any corporation, partnership, or association in which he is, directly or indirectly interested. No member, official, or emplovee of the Agency shal be personally liable to the Redeveloper or any successor in interest, in the event of any default or breach by the Agency or for anv Assessment Reduction Payments which may become due under the terms of this Agreement. Section 7.2 Duty of Agency to Act Reasonablv. Wherever this Agreement requires the Agency to approve any action of the Redeveloper, it is understood and agreed that the Agency will not unreasonably withhold or delay such approval. Section 7.3 Titles of Articles and Sections. Any titles of the several parts, Articles, and Sections of this Agreement are inserted for convenience of reference only and shall be disregarded in construing or interpreting any of its provisions. Section 7.4 Notices and Demands. Except as otherwise 1 express y provided in this Agreement, a notice, demand, or other communication under this Agreement by either party to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt recuested, or delivered personally and (a) in the case of the Redeveloper, is addressed to or delivered personally to the Redeveloper at Alscor Joint Venture No. II - C/O Opus Corporation 800 Opus Center 9900 Bren Road East Minnetonka, Minnesota 55343 (b) in the case of the Agency is addressed to or delivered personally to the Agency at Chanhassen City Hall or at such other address with respect to either such party as that party may, from time to time, designate in writing and forward to the other as provided in this Section. -14- Section 7.5 Counterparts. This Agreement is executed in any number of counterparts, each of which shall constitute one and the same instrument. Section 7.6 Covenants Running With Land. The recording or filing of this Agreement with the County Recorder or County Registrar of Titles shall constitute notice of this Agreement to any subsequent purchaser or encumbrancer of the Redevelopment Propertv, or any part thereof, whether voluntary or involuntary, and shall be binding upon them. The Redeveloper agrees to supply the applicable owner's duplicate certificate of title, if any, so as to permit the recording of a copy of this Agreement in the office of the Carver County Recorder. It is intended and agreed that the covenants and agreements set forth in Article V of this agreement shall be covenants running with the land and that they shall, in any event, and without regard to technical classification or designation, legal or otherwise, be binding to the fullest extent permitted by law and equity, for the benefit and in favor of, and enforceable by the Agencv, its successors and assigns. In the event that anv transferee or assignee of the Redeveloper (including without limitation any mortgagee taking possession of or title to the Redevelopment Property as a result of anv default in the terms of anv mortgage to which the Redevelopment Property is now subject or may be subject in the future) breaches any one of the covenants and agreements set forth in said Article V, the Agencv may treat such breach as an Event of Default as provided in Article VI of this agreement and may exercise any one or more of the remedies set forth in §6.2 of this agreement. Section 7.7 Limitation of Liability. The Redeveloper and its successors in fee title ownership of the Redevelopment Property shall be responsible for performing and observing the covenants and agreements set forth in this Agreement only during the time that the Redeveloper or a successor is the fee title owner of the Redevelopment Property. In the event fee title to the Redevelopment Property is conveyed to a successor in interest, the grantee shall be automatically responsible for performing and observing the covenants and agreements herein contained and the then grantor shall be automatically freed and relieved from and after the date of such conveyance of all obligation and liability in connection with the performance and observance of such covenants and agreements. Section 7.8 Discharge from Land Records. The Agency agrees promptly upon request by Redeveloper or its successors and assigns, after the expiration or termination of this Agreement and the satisfaction of the covenants and agreements contained herein required to be performed by Redeveloper, to execute a termination agreement or other similar document in recordable form that shall serve to release and discharge the provisions of this Agreement as a lien or encumbrance of the Redevelopment Property from the records of the office of the Registrar of Titles of Carver County, Minnesota. -15- IN WITNESS WHEREOF, the Agency has caused this Agreement to be duly executed in its name and behalf and its seal to be hereunto duly affixed, and the Redeveloper has caused r this Agreement to be duly executed in its name and behalf and its 1 coraorate seal to be hereunto duly affixed, on or as of the date first above written. F I (Seal) go THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF CHANHASSEN By its_ And its ALSCOR JOINT VENTURE NO. II By: OPUS CO (General Partner) r By i And: AMEP A', NEN SUPPLY CO. ( �al tn_er). •� r Its 1 i 1 i -16- STATE OF MINNESOTA) ss. COUNTY OF CARVER ) The foregoing instrument was acknowledged before me this day of 19—, by and the , and of the Housing and Redevelop- ment Authority of the City of Chanhassen, Minnesota. Notary Public County: My Commission Expires: STATE OF MINNESOTA) ) ss. COUNTY OF HENNEPIN) The foregoing instrument was acknowledged before me this JftD day of _ , 198,3, by �fJMESL.TrIGY�E2 V!r i= 5t7)EhST 's7FcrzF_-rg2_ , of Opus Corporation, a Minnesota corporation, on behalf of the corporation as general partner of Alscor Joint Venture No. II, a Minnesota partnership. (�72 6c-' No Pub County: My Commission Expires: -17- CAROL �;1 L tJOTAU ccs,ic— IfIM:soq i"\`' -'i HENN NIN CGUNTY MY nlssion expires SEPT. e0. 1984 -17- l STATE OF MINNESOTA) ss. COUNTY OF HENNEPIN) The foregoing instrument was acknowledged before me this 8th day of _March . 1983, by J. F. Deckenbach Vice President & Treasurer , of American Linen Supply Co., a Delaware corporation, on behalf of the corporation as general partner of Alscor Joint Venture No. II, a Minnesota partnership. I THIS INSTRUMENT DRAFTED BY: LARSON & MERTZ 1900 First Bank Place West Minneapolis, MN 55402 (612) 333 -1511 d r Nptary Publi4,- County: Hennepin My Commission Expires: January 24, 1986 rsn "azon j. eoiugaa Mabry Public, Hennepin County, Mn. ,My ccmr,.ission expires Jan. 24,1986 -18- EXHIBIT A ".Minimum Improvements" means a 51,140 square foot multi- tenant office/warehouse building constructed of concrete block and masonry. EXHIBIT B Lots 4 and 5, Block 5, Chanhassen Lakes Business Park, according to the plat thereof on file and of record in the Office of the Registrar of Titles, in and for Carver County, Minnesota. r i i CERTIFICATION BY ASSESSOR 25- 190 -0240 Tax Parcel No. 25- 190 -0250 Street Address 1351 Park Road Chanhassen, MN 55 1 The undersigned having reviewed the Construction Plans for the Minimum Improvements and the Market Value assigned to the Redevelopment Property upon which the Minimum Improvements are to be constructed pursuant to the attached assessment agreement, and being of the opinion that a "Minimum Market Value" set forth in this Certification appears reasonable, hereby certifies as follows: The undersigned Assessor, being legally responsible for the assessment of the Redevelopment Property (more particularly described in Exhibit B to the attached assessment agreement) hereby certifies that the market value assigned to such land (the Redevelopment Property) and improvements (the Minimum Improvements) upon completion of construction thereon shall be not less than one million two hundred and one thousand Dollars ($ 1.2 1.000 00 until termination of the attached assessment agreement. The undersigned further certifies that the market value of the Redevelopment Property as of the date of execution of this certification is __one hundred twenty five thousand � ($ 125,400.00 ). four hundred dollars. For the purposes of this certification, the words used herein have the definitions ut' z in the attached Assessment Agreement. Assessor F-I The STATE OF MINNESOTA) City of Canhass COUNTY OF CARVER ) ss. (/ The foregoing instrument was acknowledged before me this day of 198 %j by the Assessor for the City of Channas.�en. NotaryyPUblic County: My commission expires: ------------ 0000.. MARY ANN OHNSORG `f$- rl• NOTARY -U91 ,q - U NNE50TA r'A; " %2R OOUNTY A14, t ' MY C;0 :.tires. bear 17 . Maur �HPN',.,,.,rEN 1.....h. --_ I A ' _10 U �.�5 1Y A E L ^8d IGE CHECK* A M 0 U N T C L A I H A N T F U R P 0 S E 014432 5.000.00 THOMAS J KRUEGER LANU— PURCHASE + IMP (. e, - -- 014433 " " -- 500.00 LAND—PURCHASE JR -- LAND— PURCHASE+ IMP , L 014434 5.836.29 MLNNEGASCO UTILITIES 9 014435 3.529.00 OOLLIFF INSURANCE INC INSURANCE• BUILOINGS (SIC -- - -- 4 - " "- 14.865.29 -- NECESSARY EXPENDITURES SINCE LAST COUNCIL MEETING - - -- - - - - -- - - - - -- - - _---- "- - " "- -- _ ---- — -- - -- r ,I v u I Av i I b, ;I u -------- -- - -- Y ;9 I A L u U F A 0- -J-03 E ChECK• A M 0 U N T C L A I M A N T P U R P 0 5 E 018700 4,154.04 8 R W INC FEES, SERVICE 018701 412.18 COORCINATEO MANAGEMENT FEES, SERVICE 018702 0 . 0 0 DIV OF-80ILER INSPECTION REP. + MAINT.,8LOG + GNO 018703 242.85 LARSON + MERTZ FEES, SERVICE 018704 4,556.38 RETAIL SYSTEMS INC FEES,-SERVICE " " " - " "- 018705 240.50 CENTRAIRE INC REP. + MAINT.,OLOG + GND 6 9,615.95 CHECKS WRITTEN I 1 ( r i 1 I F Ir I F i I RUSSELL H.LAR50M CRAIG M. MERTZ OF COUNSEL HARVEY E.SKAAR MARK C.MCCULL000H Scott A. Martin Executive Director Chanhassen HRA Box 147 Chanhassen MN 55317 '7. LA.USON & MERTZ ATTORNEYS AT LAW 1900 FIRST BANK PLACE WEST MINNEAPOLIS, MINNESOTA 55402 TELEPHONE (612) 333 -1511 March 3, 1983 To professional services rendered in February, 1983, as follows: Parcel 26 Acquisition (Huber) 2/21 Telcon John Huber re HRA acquisition of Parcel 26, review of file, report to SAM re Huber request to acquire. s 2/28 Conf w/ SAM re acquisition procedure and policy re Parcel 26; telcon Bruce Crist of Geimer & Rice, attorney for Huber, re acquisition and title clearance. 1.15 hours $83.35 2/18 Accounting agreement: review Bob Voto's report of 1/24/83 and revise accounting agreement accordingly. 2.20 hours $159.50 I declare, under penalties of perjury, that the above claim is just 'It and correct and that no part theregf`fias een paid. 3(-W('33 RHL:ner cc: All Council Members Jean Meuwissen Don W. Ashworth Chanhassen HRA Attorney CITY OF CHANHASSEN RECEIVED MAR 8 N3 !'QMMUNITY DEVELOPMENT DEPI RETAIL 612 -553 -1833 SYSTEMS, INC, 3025 HARBOR LANE NORTH MINNEAPOLIS, MN 55441 Mr. Scott Martin Planner /HRA Executive Director City of Chanhassen P.O. Box 147 Chanhassen, MN 55317 INVOICE NO. 6353 INVOICE DATE Feb. 22, 1983 RSI NUMBER: C00001 ACCOUNT NUMBER: 401001 401701 TERMS: On Receipt Market analysis study of the Chanhassen Downtown Redevelopment District, Chanhassen, Minnesota Presented February 10, 1983 Balance due survey number C00001 $4,400.00 Field Work Expenses: Auto 14.40 Aerial Photos 79.10 Total Field Expenses 93.50 Charge for 4 additional surveys 62.88 Total Expenses 156.38 TOTAL DUE $4,556.38 Onn-L �•V1 2Its (73 KA - #6'+' CIP OF CHANHASS Fr,EIV ED EB 2 51983 rnmmntjjTY DEVELOPME14T DEPT T l 1 INVOICE MINNEAPOLIS CHEYENNE OENVER Mr. Scott Martin DATE: January 31, 1983 HRA Exectulve Director City of Chanhassen JOB NO: 87 -8243 690 Coulter Drive P.O. Box 147 Chanhassen, MN 55317 r RE: Instant Web Feasibility Study l For Professional Services Performed during January 1983, including: • Mechanical /electrical analysis of existing systems • Preliminary construction cost estimating • Evaluation of the potential for adaptive -reuse • Meeting with the City to discuss the community recreation program • Outline of final report Classification Hours Rate Amount Principal 3.00 $75.00 $ 225.00 Sr. Associate 9.00 60.00 540.00 Associate 3.00 50.00 150.00 Professional II 41.50 35.00 1,452.50 Technician 1.50 20.00 30.00 Expenses: Reproduction $ 3.34 Consultant 1,110.24 Sub -Total $ 2,397.50 $ 1,113.58 TOTAL AMOUNT DUE $ 3,511.08 TOTAL BILLED TO DATE: $8,150.44 CITY OF CHANHASS�N IC _ w��3s RFGEI V`ED FEB 16 483 COMMUNITY DEVELOPMENT DEFT BATHER, RINGROSE, WOLSFELO, JARVIS. GARDNER, INC. 2829 UNIVERSITY AVE. S.E MINNEAPOLIS, MN 55614 PHONE 612 1 379 7878 I DE ZI MINNEAPOLIS CHEYENNE DENVER City of Chanhassen 7610 Laredo Drive Chanhassen, MN 55317 ATTN: Mr. Scott Martin INVOICE DATE: January 31, 1983 JOB NO: 62 -8020 RE: Consulting services regarding long -term operation of the Instant Web Building. Billed as per agreement for redevelopment program. Per Diem Services - Phase I Work Task 1.7 Period of January, 1983 Research corrugated metal roof system to determine long term structural capabilities; estimate "ball park" demolition figures for Instant Web Building for proposed action due to snow storm; and study ramifications for shutting off heat in Instant Web Building and pursuant memo. Professional II 8.00 Technician 1,75 Salary Cost $ 136.44 $136.44 x 2.0 = Reimbursable expenses: Jacus Associates d,zv,�� BATHER, RINGROSE, WOLSFELD, JARVIS, GARDNER, INC. $ 272.88 370.08 D jam__ O,K. 'LltB /13 PFCEIVED FEB 1893 COMMUNITY DEVELOPMENT DEPT 2829 UNIVERSITY AVE. S.E. MINNEAPOLIS, MN 55414 PHONE 612 19]94876 I L MINNEAPOLIS CHEYENNE DENVER Mr. Scott Martin HRA Exectuive Director City of Chanhassen 690 Coulter Drive P.O. Box 147 U Chanhassen, MN 55317 RE: Instant Web Feasibility Study c INVOICE °. 32534 DATE: February 28, 1983 JOB NO: 87 -8243 For Professional Services Performed during February, 1983, including: • Generation of development alternatives • Structural analysis of folded plate roof • Cost estimating • Preparation of final report graph3C$ • Preparation of text for draft copy of final report • Meetings with the HRA and City Staff Classification Hours Rate Amount Principal 2.00 $75.00 $ 150.00 Sr. Associate 23.00 60.00 1,380.00 Associate 25.50 50.00 1,275.00 Professional II 88.00 35.00 3,080.00 Professional 1 21.00 25.00 525.00 Technician 15.00 20.00 300.00 Sub -Total $ 6,710.00 Expenses: Reproduction $ 45.12 TOTAL BILLED TO DATE: $14,905.56 $ 45.12 . UMM 16 S ,r,E:c 1VED MAR 14 1983 CITY OF CHAN ASS-°t BATHER, RINGROSE, WOLSFELD, JARVIS. GARDNER. INC. 2829 UNIVERSITY AVE. S _ MINNEAPOLIS, MN 55414 PHONE 6121 3M7878 - r _. 1 •.�SejI- i l � 'vC4,WE'ntd41 I;L. INVOICE n n'j N 0.l 2 a1 r1)1 MINNEAPOLIS CHEYENNE DENVER City of Chanhassen 7610 Laredo Drive Chanhassen, MN 55317 ATTN: Mr. Scott Martin DATE: February 28, 1983 JOB NO: 62 -8214 RE: Engineering /Planning /Surveying Services for Downtown Redevelopment Project as per Agreement Per Diem Services - Phase I Work Task 1.7 • Evaluation of K/A proposal and analysis of revised Phase I implementation program. Tax increment ananlysis. • Meetings with staff and council /committee Period of January - February, 1983 Classification Hours Principal 8.00 Associate 22.00 Technician 3.00 Salary Cost - $ 880.86 Fee - $ 880.86 x 2.0 = $1,761.72 6,K. 3i1��83 # Co4- 436D CITY WFE"RFtA&*rL 4 48 CITY OF CHAN'r1ASS RATHER. RINGROSE, WOLSFELD, JARVIS. GARDNER. INC. 2829 U "DIVERSITY AVE. S . MINNEAPOLIS. MN 55414 COMWO'Rhy EVEe0PMENT Off I . .i I T . COORDINATED MANAGEMENT SYSTEMS, INC. 8401 WAYZATA BLVD. SUITE 300 MINNEAPOLIS, MINNESOTA 55426 CITY CF CHANHASSEN P.C. PCX 147 _ CHANHASSEN, ,%N 5-- 317 INOCTCE NUMBER 7LLE DATE FEERUARY 2E, 1SE- USAGE FCR FEBRUARY 19F3 NET IC GAYS STANDARD RATES NO5 -FR STCRAGE .60 C 192 INTACT STOFACE 6.09 192 PRIME CONN 13.50 NON -PRIME CONK 9.0J PRIME CRU .110 - NON -PRIME CPU 7C STANDARD TV!ESHA;TNG US -------------------------- AG- CONNECT USER FRCJECT STCRAGE - ------ PRISE bCN - FR -- TID --- - -- 2.0 -- - --- -- 3CO TID NO2 .0 ,6 3C0 STCRAGE $1 TOTAL 300 81 2.iy .6 1CO STCRAGE 238 - TUTAL STANLARC 369 2. .6 CURRENT MONTH TOTAL STATEMENI CF ACCCUNT INVCICE P ;UpPEF 6E63 DATED 01/31/1983 CFUS FE3wE NO5 -FR C 192 562 192 56, 192 TOTAL 132.P2 16.84 48.63 200.26 147.3E 397.62 347.62 64.55 64.55 ICTAL LLE 412_:-- 0 K- A 1 -1/21 PEF MONTH CARFYINC CHARGE RILL AUTCNATICALLY /N� A eE A.LDEG ?C ACCOUNTS FECEFYAPLE C4EF 3( GAYS CLC. bv4-`T3Q WE AFFFECIATE 70UR CCCFERAIICN. I:ECE_. 3 NIAR 91983 CITY OF CHANHASSEN