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HomeMy WebLinkAboutCity Council Resolution 1979-538CITY OF PLYMDUIH Pursuant to due call and notice thereof, a Sial meeting of the City Council of the City of Plymouth, Minnesota, was a on t e 4th day of September , 19 79. The following members were present: Lunt. Councilmembers Hoyt, Neils and Spaeth were unc Councilmember Neils introduced the following Resolution and moved its adoption: RESOULTION NO. 79- 538 REGARDING AMENDMENT OF LAND USE GUIDEPLAN AND THOROUGHFARE GUIDEPLAN FOR THE AREA NORTH OF HIGHWAY 55, EAST OF I-494, AND GENERALLY SOUTH AND WEST OF PLYMOUTH CREEK (A-856) WHEREAS, the City Council on January 8, 1979 in conjunction with Resolution 79-1 directed the Planning Commission to review the Thoroughfare Guideplan provisions and traffic circulation for the area north of Highway 55, east of I-494, and generally south and west of Plymouth Creek; and, WHEREAS, The City Council also directed the Planning Commission to reevaluate the Land Use Guideplan for the area with the determination of a circulation pattern and final alignment of County Road 61, taking into account the zoning of the property owned by Munsingwear, Inc.; and, WHEREAS, the Planning Commission at its July 25, 1979 meeting viewed material in response to the Council direction submitted by McCombs Knutson Associates presented on behalf of parties representing the ownership of a substantial portion of the subject area; and, WHEREAS, at the direction of the Planning Commission a public hearing was scheduled for and held on August 15, 1979 at which time the matter was further deliberated; and, WHEREAS, the Planning Commission took action recommending approval of amendments to the Land Use Guideplan and to the Thoroughfare Guideplan; NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA, that it should and hereby does approve the following: 1. That the Thoroughfare Guideplan amendment and road alignment relative to County Road 61 and to Xenium Lane/26th Avenue North north of Highway 55 be approved as represented on sketch plan "D" as contained in the July 25, 1979 report from McCombs Knutson Associates. 2. That the amendments to the Land Use Guideplan, as contained in the July 25, 1979 report from McCombs Knutson Associates be approved subject to the following conditions: A. That the SJH property be reguided in its entirety to IP and the United Land, Inc. property and cintiguous property between existing Xenium Lane, Highway 55 and 1-494 be reguided"to CL to a north line constituted by the 100 -year flood plain elevation, with the remaining` land in; the flood plain north of the line being reguided to public and 1 I • Resolution i 79_-5,38 Page 2 B. That the Land Use Guideplan amendment shall be effective after submittal and approval of a professional traffic analysis of the subject area based upon the proposed Land Use and Thorough- fare Guideplan amendments. The motion for the adoption of the foregoing Resolution was duly seconded by CouneiIfi r and upon vote being taken thereon, the following voteain vor thereof: Mayor Hunt, Councilmembers Neils and Spaeth owing voted against or g U • Councilmemner Hoyt Whereupon the Resolution was declared duly passed and adopted. sew a�t� *sa EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF PLYMOUTH, HENNEPIN COUNTY, MINNESOTA Pursuant to due call and notice thereof, a special meeting of the City Council of the City of Plymouth, Hennepin County, Minnesota, was held at the City Hall in said City on Monday, September 10, 1979, commencing at 7:30 o'clock p.m. The following members were present: Mayor Hunt, Councilmembers Davenport, Hoyt, 'ieils and Spaeth and the following were absent: None. The Mayor stated that this was the time and place fixed by resolution of this Council, adopted on August 20, 1979, for a public hearing on the proposal that the City undertake and finance a project on behalf of Sherer Brothers Lumber Co. pursuant to Minnesota Statutes, Chapter 474. The Clerk presented affidavits showing publication of the notice of the public hearing at least once not less than fifteen nor more than thirty days prior to the date fixed for hearing in the official newspaper of the City and a newspaper of general circulation in the City. The affidavits were examined, found to be satisfactory and ordered placed on file with the Clerk. The Mayor then oepned the meeting for public hearing on the proposed project. The purpose of the hearing was explained, the nature of the project and of the proposed revenue bonds were discussed, the draft copy of the application to the Commissioner of Securities, with all attachments and exhibits, was available, and all persons present who desired to do so were afforded an opportunity to express their views with respect to the proposal to undertake and finance the project. The following views or opinions on the proposal were stated: Name of Speaker Steve Jacobs, Dain Kalman & Quail, Underwriter Don Roderick, Contractor Les Raskob, Contractor Peter Pflaum, Lundgren Bros. Construction Co. Loren Scheibe, Northwest Chamber of Commerce Roger Scherer and Mike Scherer, Petitioners Summary of Opinion Stated Guaranteed feasibility of the project. Spoke in favor of project. Spoke in favor of project. Spoke in favor of project. Spoke in favor of project. Stated project met City's requirements for IRB financing. After all persons who wished to do so had stated their views on the proposal, the Mayor declared the hearing to be closed. The following resolution was then presented by Councilmember Councilmember Spaeth ;ao moved its adoption: RESOLUTION NO. 79 - 539 RESOLUTION GIVING PRELIM114ARY APPROVAL TO A PROJECT UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; REFERRING THE PROPOSAL TO THE COMMISSIONER OF SECURITIES FOR APPROVAL; AND AUTHORIZING EXECUTION OF A MEMORANDUM OF AGREEMENT AND PREPARATION OF NECESSARY DOCUMENTS BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota, as follows: 1. It is hereby found, determined and declared as follows: 1.1 The welfare of the State of Minnesota requires active promotion, attraction, encouragement and development of economically sound industry and commerce through gavernmentdl acts to prevent, so far as possible, emergency of blighted lands and areas of chronic unemployment, and the state has encouraged local government units to act to prevent such economic deterioration. 1.2 Scherer Brothers Lumber Co., a Minnesota corporation (hereinafter the "Company"), has advised this Council of its desire to acquire and improve land and construct and equip thereon several buildings, having a total floor space of approximately 200,000 square feet for use as corporate headquarters and as a manufacturing and warehousing facility, all to be used by the Company in its principal business o: manufacturing windows and doors and supplying wood building materials. 1.3 The existence of the Project within the City would significantly increase the tax base of the City, County and school district in which the City is located, and would provide opportunities for employment for residents of the City and surrounding area. 1.4 The City has been advised that conventional, commercial financing to pay the capital cost of the Project is available only on a limited basis and at such high costs of borrowing that the economic feasibility of operating the Project would be significantly reduced, bu* that with the aid of municipal financing, and its resulting low borrowing cost, the Project is economically more feasible. 1.5 This Council has been advised by a representative of Dain, Kalman i Quail, Incorporated, investment bankers and dealers in municipal bonds, that on the basis of information submitted to them and their discussions with the representatives of the Company, Industrial Development Revenue Bonds can be successfully issued and sold by the City to finance the Project. 1.6 The City is authorized by Minnesota Statutes, Chapter 474, to issue its revenue bonds to finance capital projects consisting of properties used and useful in connection with a revenue producing enterprise, such as that of the Company, and the issuance of such bonds by the City would be a substantial inducement to the Company to construct its facility within the City. 2. On the basis of information given the City to date, it appears that it would be in the best interest of the City to issue its industrial development revenue bonds under the provisions of Chapter 474 to finance the Project of the Company at a cost presently estimated to be approximately $4,000,000. 3. The Project above referred to is hereby given preliminary approval by the City and the issuance of bonds for such purpose and in such amount approved, subject to approval of the Project by the Commissioner of Securities of the State of Minnesota and to the mutual agreement of this body, the Company and the initial purchasers of the bonds as to the details of the bond issue and provisions for their payment. In all events, it is understood, however, that the bonds of the City shall not constitute a charge, lien or encumbrance legal or equitable upon any property of the City except the Project, and each bond, when, as and if issued, shall recite in substance that the bond, including interest thereon, is payable solely from the revenues received from the Project and properly pledged to the payment thereof, and shall not constitute a debt of the City within the meaning of any constitutional or statutory limitation thereon. 4. The form of Memorandum of Agreement relating to the issuance of revenue bonds of the City to finance the cost of the Project is hereby approved, and the Mayor and City Manager are hereby authorized and directed to execute the Memorandum of Agreement in behalf of the City. 5. In accordance with Minnesota Statutes, Section 474.01, Subdivision 7A, the City Manager is hereby authorized and directed to submit the proposal for the Project to the Commissioner of Securities for her approval. The Mayor, City Clerk, City Manager, City Attorney and other officers, employees, and agents of the City are hereby authorized to provide the Commissioner with any preliminary informa- tion he may need for this purpose, and the City Attorney is authorized to initiate and assist in the preparation of such documents as may be appropriate to the Project, if it is approved by the Commissioner. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Davenport , and upon vote being taken thereon, the following voted in favor of the motion: Mayor Hunt, Councilmembers Davenport, Hoyt, Neils and Spaeth and the following voted against: None. whereupon said resolution was declared duly passed and adopted.