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
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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.
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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.