CCP 10-14-1997 - Laserfiche WebLink

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~Iru~~ ~ I ARDEN HILLS SPECIAL COUNCIL MEETING - SEPTEMBER 22 1997 8 I Mayor Probst requested clarification that approval of thc Purchasc and Salc Agrccmcnt assumes -. that the City will pay the abovc-listed additional costs. Mr. Fritsinger stated he is sceking Council direction on these issucs. Mayor Probst inquired as the wetland mitigation is now being relocated with the changes to 14th I Street, and what bccomcs of the $85,000 crcdit. Mr. Ringwald stated tllC dcvelopcr would bc paying the additional costs of increasing the pond in thc 14th Street area. Mr. Ringwald stated as the City is paying the costs of raising the street, the dcveloper should pay for the additional I ponding in this arca. Mayor Probst inquired iflanguage changcs were ncccssary. Mr. Fritsinger statcd thc changes I would be non-substantial. Mayor Probst rcqucstcd clarification that the purchasc pricc would bc $323,385 with thc I understanding that thc dcvelopcr would pay the additional costs. Mr. Filla stated this would be considcrcd a substantial change, as the purchasc pricc will change significantly. I Mr. Zehring stated this is the first timc he has hcard of this particular arrangement. He statcd his company has budgeted $325,000, and they are alrcady cxpcricncing budgct problems due to the I soil corrections and additional casements. Thc grading costs are not reflccted in thc budgeted anlount. Mayor Probst statcd the original agrecmcnt was for the developer to accommodate the City's .. ponding nceds, but with the rcgrading of thc street, this has changed. Mr. Fritsinger statcd at the last two mcctings with Mr. Zehring, it was pointcd out that the final . costs had not yet been dctcrmined. Mayor Probst suggested that the City pay for the removal of the foundation and piping, but that I thc squarc foot numbers will have to be rccalculated for the pro forma. Mr. Fritsinger stated hc I could rccalculate thc figures, but it would rcquire a short amount of time to do so. Mayor Probst stated this would need to be done immediately for an agreement to be reached. Mr. Fritsinger rccalculated thc figures, and thc mecting resumed. . Mr. Fritsinger stated the additional costs for 14'h Strcet and the ponding could bc considered part I of the infrastructurc improvements nccessary to make thc project feasible. The City had initially indicatcd it would use tax incremcnt financing (TIF) to covcr the costs of similar improvements. If the Council believed thcse costs wcrc consistent with this position, it would not be out of line I to use TIF to cover the costs. Mayor Probst requestcd clarification that any additional costs could be covered by the TIF I monics being generatcd from the project. Mr. Fritsingcr stated that appears to be correct. -- I