1989-08-29PLEASE NOTE THE SPECIAL TIME
CITY OF MENDOTA HEIGHTS
DAKOTA COUNTY
STATE OF MINNESOTA
� AGENDA
i
SPECIAL MEETING
August 29, 1989
7:00 P.M.
1. Call to Order.
2 . Roll Call,. � �,Q,� � � Y � �" �S�'�`' •
,� ����
3. Unfinished and New Business:
a. City Administrator Proiile Discussion. - �'�-✓`�'
b. Discussion on United Properties' Proposed "
Development.
c. Discussion with Braslow/Colette on the Airport
Noise Study.
d. ICMA Re irement Corporation - Tripartite Agreem
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TO:
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CITY OF MENDOTA HEIGHTS
MEMO
Mayor, City Council and
Lawrence E. Shaughnessy,
SUBJECT: United Properties -
HISTORY
August 23, 1989
City m�strator
Treasurer
In 1981, the City formed a Tax Increment District to
assist the development of the property owned by MAC adjac nt
to Acacia Cemetery.
United Properties purchased the property and have b
development with the current construction of the Big Whe
building.
At this time, United Properties is competing for the
development of a major new project which would involve
construction of a 130,000 foot building at this time with
provision for an additional 130,000 foot.
The site selected is in the lower portion of the
property along Highway 13. United Properties has asked t e
City to assist development through the Tax Increment
District. The plan is to have the City contribute the co ts
of site preparation and public improvements. A second ar a
of assistance which the City could consider is to contrib te
towards noise attenuation in the building. The site is i
the B Saftey Zone as well as the No. 2 noise area.
The attached letter from United Properties details t e
estimated costs of the assistance requested. As mentione in
their letter, there is considerable competition for locat'on
of the Company, with other communities prepared to make
substantial grants and incentives for location of the
Company.
United Properties is to make their proposal to the
Company on August 31st, and because of the competitive
nature, would request that discussions rem�iri as confiden ial
as possible until after that date. This proposal would b
subject to future City approval of Tax Increment Aid.
At this time, they would like an indication from the
City Council as to their willingness to assist in the
project. Future tax revenue from the building would be in
the range oE $260,000 ta $300,000 annually beginning in 1992
based on present schedules: Tota1 City pay back wauld be
within three years.
ACTION
React to the United Properties prapasal ta indicate what
future actian might�be taken. ,
LES:kkb
Attachment
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August 22, 1989
.
Mr. Kevin Frazell
City of Mendota Heights
1101 Victoria Curve
Mendota Heights, Minnesota 55118
RE: Aero Systems Engineering, Inc.
Mendota Heights Business Park (Acacia) Proposal
Dear Kevin:
As a follow-up to my recent meeting with your staff, this i
request City Council's approval for using tax increment fur
pay for certain improvement costs as listed below for the
referenced project. The subject site consists of approxim�
9.85 acres of land on the Acacia property, which we purcha�
couple years ago from the Metropolitan Airport Commission.
site is located within an existing tax increment district.
proposed two building complex will consist of corporate
headquarter offices, engineering, manufacturing, and warehc
space for Aero Systems Engineering, Inc. Phase I improveme
will contain approximately 130,000 square feet for approxin
250 employees.
� to
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ely
d a
The
This
se
ts
tely
The improvements and associated costs that we request assisltance
with are as follows:
1. Tree removal/grubbing
2. Earth work
3. Site utilities
4. Paving
5. Acoustical materials:
- precast concrete
- glass
$ 18,0
75,0
70,0
50,0
275,0
85,0
$573, 0�00
3500 West 80th Street Suite 100 Minneapolis, MN 55431 (612) 831-1000
r
Mr. Kevin Frazell
August 22, 1989
Page 2
Cost sav9.ngs of this amount will allow us to o�fer Aero Systems
Engineering, Inc. lower rental costs which will enhance our
chances of attracting them ta Mendo�.a Fieights. Our competition
is the St. Paul Por�. Authority for various sites in the St. Paul
area, a developer proposing a suburban site in Woadbury, and �he
City of Inver Grove Heights, which is offering a land cost write
down of $1,500j000 using TI� funding far the acguisition a� 26
acres to create a multi-phase campus enviranment.
This 13Q,OOQ square foo� development wi.l.l generate a great deal
of tax revenue �.o the City for a very quick pay back. In
addition, this significant development will anchor the 50 acre
Acacia property and provide first class quality real estate,
approximately 250 jobs, and vital s�imulation to praperty �.hat
was jus� recently returned to �he city tax rol].s. We feel that
this type o� developmen� is war�hy af the City's continued
suppart.
Very trul.y yours,
�
� G�C�� _ �� ,�,ci�-,-�_
Dale J. � owa �
Senior Vice President
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�IE\DOTA HEIGHTS BUSINESS PARK
tiiENDOTA HEIGHTS , MINNES4TA
/�`� SITE PLA�
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UtiITED PRUPERTIES llE�'FLUF7JIE�T COJtI'A�l' . I)E�'�I.U!'F:H
RCi�3ERT L. F3C7I.A�D ItiC. • ARC�-iITF.C"i
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TO:
FROM:
�
CITY OF MENDtJTA HEIG�iTS
�
MEMO
Mayor and City Cauncil
Kevin �t .��y1�.'sI r
��
August 24, 1989
City Administratgr
SUBJECT: ICMA Retirem�nt Corporation - Tripartit� Agre
for Tran'sfer of Asse�s and Liabilities
When T began employment with Mendata Fieights about s
years ago, I elected to be exempted from coverage in the
Public Employee's Retirement Association. In 1.ieu af tha
both the City and T have contr3.buted to the ICMA Retireme
Corporation during my year� of empl.ayment with the City,
current balance in my account is,appraximately $30,000,
including both aontributions arrd•investment income.
While these manies are held in trust by the ICMA
Retirement Corporation, th�y are legalZy assets of the Ci
of Mendota Heights. Hawever, you have a contractual
obligata.an to pay ta me the amounts in the account. In
leaving for employment with anather public sector agency,
there are two alternatives:
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t
The
1. For me to designate a date on which I wish to be in
receiving the monies I accumulated in Mendota
Heights (i.e., I would have to decid� now when I
am going to retire!}; or
2. The funds can be "rolled over" from Mendota Heig ts
to my next employer, the City of Cottage Grove,
Mir►nesota .
Obviously, at 34 year� of age, I haven't the slight
idea when I would intend ta retir�, (No smart comments a
me having "retired�� six years ago, pl�ase!). Therefore,
wauld prefer to have these mona.es rolled over to my next
empl'oyer. This can be accamplished by having both Citie
agree to execute the a�.tached ��Triparta.te Agreement."
t
In executi.ng this Agreemei�t, you transfer all asset in
the account to the City of Cottage Grave, but you also
transfer ta them the liabi].ity for paying those funds to me
at same da�e in the future.
ACTION RE4UIRED
I� Council concur� with my request, it should pass
motion approving the ICMA Retirem�nt Corporation Tripart'te
Agreement, transferring the De�erred Gompensation Accoun of
Kevin D. Fraze].l ta the Ci�y of Cattage Grove, Minnesota..
*� R t`IRE3tiiEti'I'
+ ,� ' C itPORATI01'
� ICl�iA RE�3CRE1"'.CEN'� C4R�'t}R�x I��:
T'RIPARTITE AGREEI�iENT
Parties to this Agreement:
Employer A: ��ty °f Mendota iieights, MN Acct. No. 1��7-0442s
Emp].ayer B: �i��' °� �at�age Grove, MN
Emgloyee: Kevin D, Frazell
Acct. No.
SSN 510-6Q-7616
AGREEMENT, made and entered inta this 6��'
september , 19 �� , by and among Employers A and B and
WHEREAS, Employer A has established and maintains
deferred compensation plan," within the meaning of sectian
Internal. Revenue Code af 1986 ("Plan A"), and has entered in
compensation agreement with Employee pursuant ta Plan
Campensation Agreement A"}; and
WHEREAS, Emplayer B has established and maintains a
deferred compensation plan," within the meaning of section �
Internal Revenue Code af�1986 ("Plan B"), and has entered in
compensation �agreement �rith Employee pursuant to Plan
Compensation Agreement B"); and
WHEREAS,�Employee has terminated his/her employment wit.
and is now enipiayed by Employer B; and
day of
�loyee.
i "eligible
7 (b) of the
a deferred
( "' Def erred
"eligible
7 (h) of the
� a deferred
{ �tDeferred
Emgloyer A,
WHEREAS, Employee desires to have his/her interest in Plan A
transferred to Plan B, and ta substitute Emplayer B far Empl yer A as the
party obligated to pay his/her deferred compen�ation accrued nder Plan A;,
and � , ,
WHEREAS, Employers A and B desire to transfer Employee' interest in
Plan A to Plan B, and to have Employer B assume Employer A's obligation
ta pay Employee�s deferred compensation accrued under Plan A;
NOW, THEREFORE, infconsideration of the abave, the p rties hereta
agree as follaws:
�. Employer A shall transfer an amount equal to the en
Employee's interest in Plan A, to Employer B. In ord�r t
this, E�ap3oyer A hereby directs
��M�1�� which holds ti
Employer A related to its obligations under�Plan A, to transf
stated in �he preceding sentence, to
ICMA RC which halds tr
Employer B related ta its obligatians under Plan B. Ti
transferred shall be charged to the account held under P1�
benefit of Employee, and credited to the account held under P
benefit of Employee.
ire value af
� accomplish
assets of
the amoun�
assets of
amount sa
A for the
n 8 for the
��
♦' ♦ '
. `
2. Emplayee re?saser Employer A from all of its obligations to
Employee under Plan A. ,
3. Employer B shall assume the obligation of Employer A to pay
benefits to Employee or his/her beneficiary under Plan A. Employer B
shall fulfill this obligation by accepting the amount transferred in
accordance with paragraph 1, above, and crediting such amount to the
account held under Plan B for the benefit of Employee. Employee's
rights with respect to amounts transferred under this Agreement shall be
determined in accordance with Plan B and Deferred Compensation Agreement
B.
4. Employee shall have no further rights under P�an A or
Deferred Compens�tion Agreement A.
5. Nothing contained in this Agreement shall create or modify any
right of the Employee to the amount transferred in accordance with
paragraph 1, above, or to any assets of Employer A or Employer B, except
as specifically provided in Plan B or Deferred Compensation Agreement B.
6. The parties shall take all actions necessary to carry out the
intent of this Agreement, including, but riot limited to, notifying
and directing any persons holding funds under Plan A or Plan B to make
or accept the required transfers.
7. This Agreement shall be binding upon the parties, and their
beneficiaries, successors, assigns, and heirs.
IN WITNESS WHE�EOF, the parties hereto have set forth their
signatures and affixed their seals on the day and year first written
above.
EMPLOYER A City of Mendota Heiglits, Minnesota
BY: TITLE
�,
i �
ATTEST: TITLE
EMPLOYER g City of Cottage Grove, Minrescta ;
BY: � TITLE '
ATTEST:
EMPLOYEE:
i
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