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2022-03-21 City Council Agenda Packet A,lbertville City of Albertville Council Agenda Small Wing.Big UFO. Monday, March 21, 2022 City Council Chambers 7pm PUBLIC COMMENTS-The City of Albertville welcomes and encourages public input on issues listed on the agenda or of general community interest.Citizens wishing to address the Council regarding specific agenda items,other than public hearings,are invited to do so under Public Forum and are asked to fill out a"Request to Speak Card". Presentations are limited to five(5)minutes. 1. Call to Order 2. Pledge of Allegiance—Roll Call Pages 3. Recognitions —Presentations -Introductions A. Albertville Royalty Current Court B. Proclamation for the STMA High School Varsity Wrestling Team 4 4. Public Forum—(time reserved 5 minutes) 5. Amendments to the Agenda 6. Consent Agenda All items under the Consent Agenda are considered to be routine by the City staff and will be enacted by one motion. In the event an item is pulled, it will be discussed in the order it is listed on the Consent Agenda following the approval of the remaining Consent items. Items pulled will be approved by a separate motion. A. Approve the March 7, 2022, regular City Council Meeting minutes as presented. 5-8 B. Authorize the Monday, March 21, 2022, payment of claims as presented, except bills 9 specifically pulled which are passed by separate motion. The claims listing has been provided to City Council as a separate document and is available for public view at City Hall upon request. C. Approve the renewal of liquor licenses for licensee listed in the staff report for the 10-11 period of April 15, 2022,through April 14, 2023, contingent upon successful Wright County Sheriff's Department review for liquor law violations. 7. Public Hearing A. Public Hearing for Approval of Tax Increment District No. 20, the TIF Financing 12-34 Plan and an Interfund Loan • Mayor to open the public hearing • Motion to close the public hearing (Motion to adopt Resolution No. 2022-07 titled "Resolution Approving the Establishment of Tax Increment Financing District No. 20 within Municipal Development District No. 1;Approving the Tax Increment Financing Plan Therefor; And Authorizing an Interfund Loan.) City of Albertville City Council Agenda Monday, March 21, 2022 Page 2 of 3 8. Legal Department A. Sale of Property to Scherer Bros Limited Partnership 35-45 (Motion to approve the Purchase Agreement between the City and Scherer Limited Partnership and authorize its execution by the Mayor and City Clerk.) (Motion to authorize the release of Outlot B, Northwest Commercial Park from the following documents: A. Terms and conditions of Developer's(Planned Unit Development Agreement, filed May 1, 1999, as Document No. 677246(First Outlet Mall Developer's Agreement)Amended by First Amendment to Developer's Planned Unit Development Agreement,filed February 29, 2000, as Document No. 703145 (amendment to First Outlet Mall Developer's Agreement. B. Resolution No. 2003-31, Resolution Eliminating Land from Consideration for Wetland Mitigation,filed December 3, 2002, as Document No. 819518) 9. Wright County Sheriff's Office—Updates, reports, etc. 10. Department Business A. City Council 1. Committee Updates (STMA Ice Arena, Planning, JPWB, Parks, Fire Board, FYCC, etc) B. Building—None C. City Clerk—None D. Finance—None E. Fire—None F. Planning and Zoning 1. Crossing Church—Extend Term of Interim Use Permit within the 46-48 Albertville Outlet Mall Second Addition (Motion to adopt Resolution No. 2022-08 approving an extension of the term of the interim use permit for Crossing Church located in the Albertville Promenade Outlet Mall on Lot 1, Block 1, Outlets at Albertville Second Addition.) 2. Amendment to Albertville Premium Outlet Mall Comprehensive Sign Plan 49-53 (Motion to adopt Resolution No. 2022-09 approving an amendment to the Albertville Premium Outlet Mall Comprehensive Sign Plan for Tenant Wall Signs and Tenant Temporary Signs on Lot 1, Block I Outlets of Albertville Addition and Lot I Block I Outlets ofAlbertville Second Addition located within the City of Albertville.) G. Public Works/Engineering—None City of Albertville City Council Agenda Monday, March 21, 2022 Page 3 of 3 H. Administration 1. City Administrator's Update 54-55 11. Announcements and/or Upcoming Meetings March 28 Joint Powers Water Board, 6 pm Parks Committee, 7 pm April 4 City Council, 7 pm April 11 STMA Arena Board, 6 pm April 12 Planning Commission, 7 pm April 14 Fire Relief Association Meeting, 6 pm April 18 Local Board of Appeals and Equalization, 6:15 pm April 18 City Council, 7 pm 12. Adjournment ��_so� A,lbertville Small Town living.Big My Uft. CITY OF ALBERTVILLE PROCLAMATION FOR THE ST. MICHAEL-ALBERTVILLE HIGH SCHOOL VARSITY WRESTLING TEAM WHEREAS, STMA High School is an integral component within the Albertville community; and WHEREAS, the Albertville City Council desires to recognize the STMA High School Wrestling Team for their exemplary season and outstanding performance; and WHEREAS, the Knight's beat Apple Valley 45-19, Anoka 43-23 and Stillwater 38-27 in the finals held at the Xcel Energy Center on March 4 and 5; and WHEREAS, this is the 9th State Championship in the Wrestling program's history. NOW, THEREFORE, let it be known, that the Mayor and City Council of the City of Albertville hereby congratulates the team on their victory as 2022 Class AAA State Champions. IN WITNESS WHEREOF, I have hereunto set my hand and caused the great seal of the City of Albertville to be affixed this 21 St day of March, 2022. of •. A -0,00#4R-`•� Jillian Hendrickson, Mayor =mot SEAS, � = Agenda Page 4 Alb�rtvi��� Smolt T—.1M.9.Big CRY Ufs. ALBERTVILLE CITY COUNCIL DRAFT REGULAR MEETING MINUTES March 7, 2022 — 7 pm Council Chambers Albertville City Hall 1. Call to Order Acting Mayor Cocking called the meeting to order at 7:13 pm. 2. Pledge of Allegiance—Roll Call Present: Acting Mayor Cocking, Councilmembers Hudson and Zagorski Absentee: Mayor Hendrickson and Councilmember Olson Staff Present: Fire Chief Bullen, City Attorney Couri, City Planner Brixius and City Clerk Luedke 3. Recognitions —Presentations —Introductions —None 4. Public Forum There was no one present for the public forum. 5. Amendments to the Agenda MOTION made by Councilmember Hudson, seconded by Councilmember Zagorski to approve the March 7, 2022, agenda as submitted. Ayes: Cocking, Hudson and Zagorski. Nays: None. Absent: Hendrickson and Olson. The motion carried. 6. Consent Agenda All items under the Consent Agenda are considered to be routine by the City staff and will be enacted by one motion. In the event an item is pulled, it will be discussed in the order it is listed on the Consent Agenda following the approval of the remaining Consent items. Items pulled will be approved by a separate motion. A. Approve the February 7, 2022, regular City Council Meeting minutes as presented. B. Authorize the Monday, March 7, 2022, payment of claims as presented, except bills specifically pulled which are passed by separate motion. The claims listing has been provided to City Council as a separate document and is available for public view at City Hall upon request. C. Approve the Albertville Knights of Columbus #4174 Lawful Gambling Permit application for a benefit to be held at St. Alberts Parish Center located at 11458 57th Street NE on April 30,2022.Accept 4th Quarter Budget to Actual reports. D. Adopt Resolution No. 2022-06 Reestablishing the City of Albertville's Precincts and Polling Locations. E. Approve Final Payment Estimate to Knive River for 2021 Street Improvements in the amount of$28,397.01. MOTION made by Councilmember Hudson, seconded by Councilmember Zagorski to approve the March 7, 2022, Consent Agenda as submitted. Ayes: Cocking, Hudson and Zagorski.Nays: None. Absent: Hendrickson and Olson. The motion carried. Agenda Page 5 City Council Meeting Draft Minutes Page 2 Regular Meeting of March 7,2022 7. Public Hearing—None S. Wright County Sheriff's Office—Updates, reports, etc. There were no updates from the Wright County Sheriff's Office. 9. Department Business A. City Council 1. Committee Updates (S'TMA Ice Arena, Planning, JPWB, Parks, Fire Board, FYCQ Councilmember Zagorski said at the last Planning Commission meeting,the Commissioners stated they would like to thank City Planner Brixius for providing updates on future agenda/discussion items at the Planning Commission meetings. B. Building—None C. City Clerk—None D. Finance—None E. Fire—None F. Planning and Zoning 1. Amendment to the Albertville City Code relating to Side Yard Outdoor Storage in Residential Zoning Districts City Planner Brixius provided an overview of the proposed amendment to the City Code relating to side yard outdoor storage. He said the amendment would require the recreational vehicles be stored on the side yard along the garage side of the house, the storage site be accessed via an established driveway and the storage area be located on a defined pad. He answered questions from Council. Chief Bullen answered questions from Council regarding the proposed outdoor storage amendments. MOTION made by Councilmember Zagorski, seconded by Councilmember Hudson to adopt Ordinance No. 2022-03 approving amendments to the City's Zoning Code Section 1000.15.A.2.b; establishing performance standards for outdoor storage in a residential zoning district within a side yard and approve summary Ordinance for publication. Ayes: Cocking, Hudson and Zagorski. Nays: None. Absent: Hendrickson and Olson. The motion carried. 2. Amendment to Commercial Zoning Districts to allow Amplified Music to Outdoor Dining Conditional Use Permits City Planner Brixius provided an overview of the amendment to the City's Commercial Zoning Code. He said the proposed amendment would allow for amplified outdoor music at an establishment with an approved conditional use permit as long as the property does not border a residential use,residential zoning district or create an issue with the noise nuisance code. He answered questions from Council. Agenda Page 6 City Council Meeting Draft Minutes Page 3 Regular Meeting of March 7,2022 2. Amendment to Commercial Zoning Districts - continued City Attorney Couri answered questions from Council regarding what the penalty would be if an establishment violated the noise nuisance code by playing their music too loud. He added that he thought this would be a minor issue because establishments would not want to jeopardized their conditional use permit. MOTION made by Councilmember Hudson, seconded by Councilmember Zagorski to adopt Ordinance No. 2022-04 approving amendments to the City's Commercial Zoning Districts Sections 4300, 4350, 4400, and 4500 allowing electronically amplified outdoor music and audio devices accessory to approved outdoor dining conditional use permits and approve summary Ordinance for publication. Ayes: Cocking, Hudson and Zagorski. Nays: None. Absent: Hendrickson and Olson. The motion carried. G. Public Works/Engineering—None H. Legal 1. Update on Status of Maeyaert Property Ordinance Violations City Attorney Couri provided background information on the Maeyaert ordinance violations in which he stated the City had entered into a settlement agreement with Mr. Maeyaert last July. He said Mr. Maeyaert had until September of 2021 to bring his property into compliance but he had failed to do so. Mr. Couri added in fact last fall,Mr. Maeyaert begun to add additional items to his property. Mr. Couri said he filed paperwork with the courts asking for an order that would authorize the City to enter the Maeyaert property and clean it up. Attorney Couri said a court date had been set for April 11 and he felt the City would get the order within 60 to 90 days after the court date to be able to clean up the property. He answered questions from Council as to whether the City can assess the costs associated with the clean up to the property owner. City Attorney Couri said he would update the Council after the April 11 hearing date. There was Council discussion regarding the property ordinance violations at the Maeyaert property. 1. Ordinance Violations at 5970 Kalland Circle N.E. City Attorney Couri provided background information on the ordinance violations at 5970 Kalland Circle. He said the property owner had indicated they would not remove the trailer or camper that were being stored improperly on their property. City Attorney asked if the Council would like to file a court order or wait until spring to see if the vehicles were moved. Mr. Couri answered questions from Council regarding the City's administrative fines process, if the City could recoup their expenses and the court action procedures. Councilmember Hudson recused himself due to a possible conflict of interest. There was Council discussion regarding the ongoing violations and the Council directed City Attorney Couri to move forward with the filing of the court action against the property owner. MOTION made by Councilmember Zagorski, seconded by Acting Mayor Cocking to authorize a court action against the owners of the property at 5970 Kalland Circle N.E. to remove a trailer and a camper that are both being stored on the lawn in the side yard. Ayes: Cocking and Zagorski. Nays: None. Abstained: Councilmember Hudson. Absent: Hendrickson and Olson. The motion carried. Agenda Page 7 City Council Meeting Draft Minutes Page 4 Regular Meeting of March 7,2022 L Administration 1. City Administrator's Update Fire Chief Bullen stated effective March 31, 2022, Republic Recycling would be updating their recycling routes within Albertville and beginning in April, the entire City would be on the same recycling schedule. Councilmember Zagorski said he would like to add a motion to congratulate the STMA High School Wrestling Team. Acting Mayor Cocking directed staff to add a proclamation to the following Council meeting congratulating the wrestling team. Announcements and/or Upcoming Meetings March 8 Planning Commission, 7 pm March 14 STMA Arena Board, 6 pm March 21 City Council, 7 pm March 28 Joint Powers Water Board, 6 pm Parks Committee, 7 pm April 4 City Council, 7 pm 10. Adjournment MOTION made by Councilmember Hudson, second by Councilmember Zagorski to adjourn the meeting at 7:51 pm. Ayes: Cocking, Hudson and Zagorski.Nays: None. Absent: Hendrickson and Olson. The motion carried. Respectfully submitted, Kristine A. Luedke, City Clerk Agenda Page 8 �lbcrtviljc Mayor and Council Request for Action I f March 21, 2022 SUBJECT: CONSENT—FINANCE—PAYMENT OF BILLS RECOMMENDATION: It is respectfully requested that the Mayor and Council consider the following: MOTION TO: Authorize the Monday,March 21, 2022,payment of the claims as presented except the bills specifically pulled, which are passed by separate motion. The claims listing has been provided to Council as a separate document. The claims listing is available for public viewing at City Hall upon request. BACKGROUND: The City processes claims on a semi-monthly basis. The bills are approved through their respective departments and administration and passed onto the City Council for approval. KEY ISSUES: • Account codes starting with 810 are STMA Arena ExpensesNendors (bolded) and key issues will be presented in the claims listing document. POLICY/PRACTICES CONSIDERATIONS: It is the City's policy to review and approve payables on a semi-monthly basis. FINANCIAL CONSIDERATIONS: City staff has reviewed and recommends approval of payments presented. LEGAL CONSIDERATIONS: The Mayor and Council have the authority to approve all bills pursuant to Minnesota State Law, which requires all bills to be paid in a timely manner, generally within 30 days unless one party determines to dispute the billing. Responsible Person: Tina Lannes, Finance Director Submitted through: Adam Nafstad, City Administrator-PWD Attachment: • List of Claims (under separate cover) Agenda Page 9 Mayor and Council Request for Action Nbertvillf March 21, 2022 SUBJECT: CONSENT-CITY CLERK—ANNUAL RENEWAL OF LIQUOR LICENSES RECOMMENDATION: It is respectfully requested that the Mayor and Council consider the following: MOTION TO: Approve the renewal of liquor licenses for the licensees listed below for the period of April 15, 2022, through April 14, 2023, contingent upon successful Wright County Sheriff's Department review for liquor license violations. BACKGROUND: Each year the City of Albertville and State of Minnesota Alcohol and Gambling Enforcement Division (AGED) must approve the renewal of liquor licenses for establishments within the City of Albertville. The City must verify that there are no outstanding fines, City Code violations, or delinquent taxes for each establishment. The Wright County Sheriff's Office must also check for liquor law violations within the last five years. Once Council has approved the liquor renewals locally, they will be sent to MN AGED for their approval. The liquor license period for the upcoming year runs April 15, 2022 to April 14, 2023. The following liquor licenses are recommended for approval: Licensee Address License Type 152 Club 5794 Main Ave NE On-Sale; Sunday& Off-Sale Cedar Creek Bar& Grill 5700 Jason Ave NE On-Sale and Sunday Coborn's Grocery 5698 LaCentre Ave NE 3.2 Off-Sale Coborn's Liquor 5600 LaCentre Ave NE, Ste 114 Off-Sale D. Michael B's 6550 Lamplight Drive On-Sale; Sunday& Off-Sale El Bamba 5986 Main Ave NE On-Sale Wine & Strong Beer Geez Sports Bar& Grill 5788 Main Ave NE On-Sale; Sunday& Off-Sale Hong Thai 5600 LaCentre Ave Ste 110 On-Sale Wine & Strong Beer Kwik Trip#1020 6300 LaBeaux Ave NE 3.2 Off-Sale Neighbor's Eatery & Saloon 5772 Main Ave NE On-Sale; Sunday& Off-Sale Space Aliens Grill &Bar 11166 County Rd 37 On-Sale and Sunday Speedway#7016 11044 61s'Street NE 3.2 Off-Sale The Hen&The Hog 5262 K ler Ave NE, Ste 111 On-Sale Wine & Strong Beer Villa Bar and Grill 11935 59th Place NE On-Sale; Sunday& Off-Sale Westside Liquor 11095 61st St NE, Ste P Off-Sale Willy McCoy's 5651 LaCentre Ave NE On-Sale and Sunday KEY ISSUES: • There are no delinquent taxes, outstanding fines, or code violations for the above establishments. • Approval is contingent upon Wright County Sheriff's review for liquor license violation. Agenda Page 10 Mayor and Council Request for Action—March 21, 2022 Clerk-Annual Renewal of Liquor Licenses Page 2 of 2 • There was one liquor license violation for the current license period. It occurred at Villa Bar and Grill. The establishment was sent the fine as established in the City Code and has made payment. • Wright County requires a$100 investigation fee to complete background checks on liquor establishments for all annual renewals and new licenses. Staff has passed this expense onto the establishments. POLICY/PRACTICES CONSIDERATIONS: It is the Mayor and City Council's policy to review and approve or deny liquor license renewals for establishments within Albertville. FINANCIAL CONSIDERATIONS: The following are the fees collected from the 2022-2023 liquor license renewals: License Type License Fee # of 2022 Licenses 2022 Revenue On-Sale; Sunday & Off-Sale $3,650 5 $18,250 On-Sale and Sunday $3,500 3 $10,500 On Sale Wine& Beer $210 3 $630 Off-Sale 3.2% Beer $100 3 $300 Off-Sale $150 2 $300 Total $29,980 Responsible Person: Kris Luedke, City Clerk Submitted Through: Adam Nafstad, City Administrator-PWD Agenda Page 11 �lbcrtvillc Small Town Wag.ffig ON Lft. Mayor and Council Request for Action March 21, 2022 SUBJECT: APPROVAL OF TAX INCREMENT DISTRICT NO. 20,THE TIF FINANCING PLAN AND INTERFUND LOAN RECOMMENDATION: It is respectfully requested that the Mayor and Council consider the following after holding a public hearing on the establishment of TIF District No. 20: MOTION TO: Adopt Resolution No. 2022-07 titled"Resolution Approving the Establishment of Tax Increment Financing District No. 20 within Municipal Development District No. 1; Approving the Tax Increment Financing Plan Therefor; And Authorizing an Interfund Loan." BACKGROUND: Scherer Bros Lumber Company has entered into an agreement to sell its current truss manufacturing facility located in the Barthel Industrial Park to a neighboring business. As a result, Scherer Bros intends on building a new manufacturing facility on Outlot C, Northwest Industrial Park ("Property"), which is owned by the City and is located immediately north of the Outlet Mall provided it is able to receive significant tax increment financing assistance from the City. Scherer Bros is seeking TIF assistance in the amount of$400,000 in addition to the waiver of a number of development related fees applicable to the Property. Based on the information provided by Scherer Bros regarding the proposed building, it is estimated that the TIF will generate approximately $1,137,305 in tax increment revenue, $400,000 of which can be returned to the Developer to help defray development costs, including site preparation, parking lot construction, utility work, and other qualifying development costs incurred by Scherer Bros. All TIF monies will come from the property taxes paid by Scherer on the Property after the new facility is constructed. Construction is expected to occur this year with substantial completion of the building late this fall. Northland Securities has prepared a TIF Plan for TIF No. 20. The TIF Plan calls for the City to receive the first$700,000 of tax increment to reimburse the City for the cost of the Property ($602,000) and development fees that will be waived($98,000). Once the City has received $700,000, the remaining $400,000 that the TIF will generate will be paid to Scherer Bros for its qualifying costs of development. The City will retain 3% of the tax increment each year to pay for administrative expenses of establishing and managing the TIF. The TIF is proposed as a 9-year Economic Development Tax Increment Financing District that will collect tax increment beginning in 2024 through 2032. Upon decertification of the TIF District all property taxes thereafter will be split among the County, City and School district in the same manner as other properties in the City. The attached resolution finds that the development of the Property would not occur without the assistance of TIF and will result in an increased market value for the property than would be the case if TIF was not used. Approval of the attached resolution will establish TIF District No. 20 and will approve the TIF plan prepared by Northland Securities. Agenda Page 12 Mayor and Council Request for Action—March 21, 2022 Tax Increment District No. 20,TIF Financing Plan & Interfund Loan Page 2 of 2 In early April,the City will be selling the Property to Scherer Bros for $1 and will waive a number of the development fees. The Property and the waived fees together have a total value of $700,000, which will be reimbursed from the TIF proceeds. In order to be reimbursed for these costs over the life of the TIF, the City must make an interfund"loan"to itself in the amount of $700,000. Approval of the attached resolution will establish the interfund loan and will allow the City to pay itself back from the proceeds of the TIF. KEY ISSUES: • This economic development TIF will is generate an estimated $1,137,305 over the life of the TIF. • $700,000 of the TIF proceeds will reimburse the City for land and development fees. $400,000 will be paid to Scherer Bros to reimburse it for development costs and the remainder will be retained by the City to pay the costs of establishing the TIF District and complying with reporting requirements. • The TIF will terminate in 2032, after which the property taxes will be split between the County, City and School District like all other non-TIF property taxes. • The City will establish an interfund loan in the amount of$700,000 that will be paid back over the first six years of the TIF. • Construction is expected to occur in 2022 with completion of the building late this fall. • The estimated value of the building and land upon completion is $5.1 million. POLICY/PRACTICES CONSIDERATIONS: Nearly all of the City's industrial buildings have been financed with some sort of TIF assistance similar to what is being proposed for this TIF. FINANCIAL CONSIDERATIONS: The City is slated to recover the entire value of the property($602,000) and a majority of the development fees it will be waiving ($98,000) from the TIF. When the TIF expires the City will continue to receive real estate taxes from the improved Property,but the Property is expected to be valued at$5.1 million rather than its $602,000 current valuation, which will generate significant tax revenue for the City in the future. LEGAL CONSIDERATIONS: The City is authorized to establish this TIF under Minnesota statute. Responsible Person: Adam Nafstad, City Administrator-PWD Submitted Through: Adam Nafstad, City Administrator-PWD Attachments: • Tax Increment Financing Plan for TIF District No. 20 • Resolution No. 2022-07 Approving Establishment of Tax Increment Financing District No. 20 within Municipal Development District No. 1; Approving the Tax Increment Financing Plan Therefor; and Authorizing an Interfund Loan Agenda Page 13 DRAFT CITY OF ALBERTVILLE, MINNESOTA TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 (SCHERER BROTHERS) WITHIN MUNICIPAL DEVELOPMENT DISTRICT NO. 1 SCHEDULED PUBLIC HEARING DATE: MARCH 21, 2022 PLAN APPROVED DATE: , 2022 PLAN CERTIFICATION REQUEST DATE: . 2022 PLAN CERTIFIED DATE: , 2022 Northland Securities,Inc. �� 4 150 South Fifth Street, Suite 3300 Minneapolis, 0 55402 NORTHLAND PUBLIC FINANCE Member NASD and SIPC Registered with SEC and MSRB Agenda Page 14 TABLE OF CONTENTS ARTICLE I — INTRODUCTION AND DEFINITIONS.........................................................I Section 1.01 Introduction......................................................................................1 Section1.02 Definitions.........................................................................................1 Section 1.03 Plan Preparation...............................................................................1 ARTICLE II -TAX INCREMENT FINANCING PLAN.........................................................2 Section 2.01 Statutory Authority..........................................................................2 Section 2.02 Planned Development.....................................................................2 2.02.1 Description of Development.....................................................................2 2.02.2 City Plans and Development Program....................................................2 2.02.3 Land Acquisition.........................................................................................2 2.02.4 Development Activities..............................................................................2 2.02.5 Need for Tax Increment Financing...........................................................2 Section 2.03 Tax Increment Financing District...................................................3 2.03.1 Designation..................................................................................................3 2.03.2 Boundaries of TIF District..........................................................................3 2.03.3 Type of District............................................................................................3 Section 2.04 Plan for Use of Tax Increment........................................................3 2.04.1 Estimated Tax Increment............................................................................3 2.04.2 Public Development Costs.........................................................................4 2.04.3 Estimated Sources and Uses of Funds.....................................................4 Figure2-1......................................................................................................5 2.04.4 Administrative Expense.............................................................................5 2.04.5 County Road Costs.....................................................................................5 2.04.6 Bonded Indebtedness.................................................................................5 2.04.7 Duration of TIF District..............................................................................6 2.04.8 Estimated Impact on Other Taxing Jurisdictions...................................6 2.04.9 Prior Planned Improvements....................................................................6 ARTICLE III —ADMINISTERING THE TIF DISTRICT ......................................................7 Section 3.01 Filing and Certification....................................................................7 Section 3.02 Modifications of the Tax Increment Financing Plan....................7 Section 3.03 Four-Year Knockdown Rule...........................................................7 Section 3.04 Pooling and Five-Year Rule.............................................................8 Section 3.05 Financial Reporting and Disclosure Requirements.....................8 Section 3.06 Business Subsidy Compliance........................................................9 EXHIBITS..........................................................................................................................10 Exhibit I Present Value Analysis..................................................................10 Exhibit II Projected Tax Increment................................................................11 Exhibit III Impact on Other Taxing Jurisdictions..........................................12 Exhibit IV Estimated Tax Increment Over Life of District..........................13 Exhibit V Map of TIF District and Development District..........................14 Agenda Page 15 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 ARTICLE I — INTRODUCTION AND DEFINITIONS SECTION 1.01 INTRODUCTION The City of Albertville proposes to provide tax increment financing assistance through the establishment of Tax Increment Financing(Economic Development)District No. 20 (the"TIF District")within Municipal Development District No. 1 to assist with the financing of certain project costs for the construction of an approximately 60,000 square feet truss manufacturing plant. This document contains the plan for the TIF District which is consistent with the objectives of the Development Program for Municipal Development District No. 1, as most recently amended pursuant to City Resolution No. 2015-025 adopted June 15, 2015. SECTION 1.02 DEFINITIONS For the purposes of this document, the terms below have the meanings given in this section, unless the context in which they are used indicates a different meaning: 1. "City"means the City of Albertville, Minnesota. 2. "City Council" means the City Council of the City. 3. "County" means Wright County, Minnesota. 4. "Developer" means the party undertaking construction in the TIF District anticipated to be Scherer Limited Partnership, its successors or assigns. 5. "Development" means the construction and development of an approximately 60,000 square feet truss manufacturing plant. 6. "Development District Act"means Minnesota Statutes, Sections 469.124 through 469.134, as amended and supplemented from time to time. 7. "Development Program" means the Development Program for the Development District, as amended and supplemented from time to time. 8. "Project Area" means the geographic area of the Development District. 9. "Public Development Costs" means the cost of the development activities that will or are expected to occur within the Project Area or TIF District. 10. "School District" means Independent School District No. 728. 11. "State" means the State of Minnesota. 12. "TIF Act" means Minnesota Statutes, Sections 469.174 through 469.1794, as amended,both inclusive. 13. "TIF District"means Tax Increment Financing(Economic Development)District No.20 (Scherer Brothers). 14. "TIF Plan' means the tax increment financing plan for the TIF District (this document). SECTION 1.03 PLAN PREPARATION The document was prepared for the City by Northland Securities, Inc. DRAFT FOR PUBLIC HEARING 3/21/2022 1 Agenda Page 16 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 ARTICLE II - TAX INCREMENT FINANCING PLAN SECTION 2.01 STATUTORY AUTHORITY The TIF District and the TIF Plan are established under the authority of the TIF Act. SECTION 2.02 PLANNED DEVELOPMENT 2.02.7 Description of Development The Developer proposes to build an approximately 60,000 square feet truss manufacturing plant. 2.02.2 City Plans and Development Program In addition to achieving the objectives of the Development Program, the Development is consistent with and works to achieve the development objectives of the City. The TIF Plan for the TIF District conforms to the general plan for development or redevelopment of the City as a whole. The City has adopted land use controls to guide the use of property. The Development plans for the Development in the TIF District have been reviewed by the Planning Commission and the City Council, and conforms to current land use controls. 2.02.3 Land Acquisition The City plans to convey the property within the TIF District to the Developer. There is no other planned land acquisition. The City will use tax increments to reimburse itself for the conveyance of the land to the Developer. 2.02.4 Development Activities The City anticipates that the development activities proposed in the TIF Plan will be subject to contracts. The City anticipates entering into a contract with the Developer to construct the Development and provide tax increment financing assistance to pay for Public Development Costs. 2.02.5 Need for Tax Increment Financing In the opinion of the City, the Development would not reasonably be expected to occur solely through private investment within the foreseeable future and the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the TIF District permitted by the TIF Plan. The reasons and facts supporting this finding include the following: • The Development requires public financial assistance to offset land acquisition,utilities, site improvements, and other qualifying improvements to allow for the Developer to proceed with construction of the Development. • A comparative analysis of estimated market values both with and without establishment of the TIF District and the use of tax increments has been performed as described above and is shown in Exhibit I. This analysis indicates that the increase in estimated market value of the proposed development(less the present value of the projected tax increments for the maximum duration permitted by the TIF Plan)exceeds the estimated market value of the site prior to the establishment of the TIF District. DRAFT FOR PUBLIC HEARING 3/21/2022 2 Agenda Page 17 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 SECTION 2.03 TAX INCREMENT FINANCING DISTRICT 2.03.1 Designation This TIF District is designated as Tax Increment Financing (Economic Development)District No. 20(Sherer Brothers). 2.03.2 Boundaries of TIF District The boundaries of the TIF District are depicted in Exhibit V. The TIF District includes parcel number 101-091-000020 and the immediate adjacent roads and right-of-way. The property within the TIF District is described as follows: • Sect-35 Twp-121 Range-024 NORTHWEST COMMERCIAL PARK OUTLOT B 2.03.3 Type of District The TIF District is established as an"economic development" district pursuant to Sections 469.174 subdivision 12, and 469.176, subdivision 4c, of the TIF Act. Section 469.174, subdivision 12 of the TIF Act to find that the Development is in the public interest because: (1) it will discourage commerce, industry, or manufacturing from moving their operations to another state or municipality;or (2) it will result in increased employment in the state;or (3) it will result in preservation and enhancement of the tax base of the state;or (4) it satisfies the requirements of a workforce housing project under section 469.176, subdivision 4c, paragraph(d). The Development will meet these conditions. Pursuant to Section 469.176, subdivision 4c of the TIF Act, revenue derived from tax increment from an economic development district may not be used to provide improvements, loans, subsidies, grants, interest rate subsidies, or assistance in any form to developments consisting of buildings and ancillary facilities, if more than 15 percent of the buildings and facilities (determined on the basis of square footage) are used for a purpose other than: (1) the manufacturing or production of tangible personal property, including processing resulting in the change in condition of the property; (2)warehousing, storage, and distribution of tangible personal property, excluding retail sales; (3) research and development related to the activities listed in clause (1) or (2); (4) telemarketing if that activity is the exclusive use of the property; (5) tourism facilities; (6) space necessary for and related to the activities listed in clauses(1)to (5);or (7) a workforce housing project that satisfies the requirements of paragraph(d). The Development is for manufacturing, and 100%of the planned building(on a square footage basis)will be used for this purpose, and thus meets the requirements of the TIF Act. SECTION 2.04 PLAN FOR USE OF TAX INCREMENT 2.04.1 Estimated Tax Increment The original net tax capacity of value of the TIF District will be set by the County upon request for certification. For the purposes of this Plan, the estimated original net tax capacity is$11,290. This amount is estimated based on information provided by the county assessor to the City for DRAFT FOR PUBLIC HEARING 3/21/2022 3 Agenda Page 18 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 preliminary(2022 assessment/payable year 2023) estimated taxable market value of$602,000 for Parcel 101-091-000020;with tax capacity value calculated for commercial property. The total tax capacity value of the property after development completion is estimated to be $101,250. This amount is based on a total estimated taxable market value of$5,100,000 with property classified as commercial. The estimated difference between the total tax capacity value after development completion and the original net tax capacity value is the captured tax capacity value in the amount of$89,960 for the creation of tax increment. The total local tax rate is estimated at 134.723%based on the preliminary tax rates for taxes payable in 2021. The TIF Plan assumes this rate for estimating tax increment revenue.At the time of the certification of the original net tax capacity for the TIF District, the county auditor shall certify the original local tax rate that will apply for the duration of the TIF District. The original local tax rate is the sum of all the local tax rates,excluding that portion of the school rate attributable to the general education levy under Minnesota Statutes section 126C.13, that apply to a property in the TIF District. The local tax rate to be certified is the rate in effect for the same taxes payable year applicable to the tax capacity values certified as the TIF District's original tax capacity. The resulting tax capacity rate is the original local tax rate for the duration of the TIF District. Under these assumptions, the estimated annual tax increment is$120,761 after completion of the project and after deducting for the State Auditor's fee (0.36%of the captured tax increments). The actual tax increment will vary according to the certified original tax capacity value and original tax rate, the actual property value produced by the proposed development and the changes in property value and State tax policy over the life of the district. It is the intent of the City to retain 100%of the captured tax capacity value for the duration of the TIF district. Exhibit I1 contains the projected tax increment over the life of the District. 2.04.2 Public Development Costs The City will use tax increment to pay Public Development Costs.A contract between the City and the Developer will define the means for verifying Public Development Costs that will be eligible for reimbursement and the means of disbursing tax increments collected by the City. The City will use tax increments to pay financing costs. The interest rate payable on bonds issued,will be set pursuant to approving resolutions. The definition of"bonds" includes interfund loans and tax increment financing revenue notes. 2.04.3 Estimated Sources and Uses of Funds The estimated sources of revenue, along with the estimated Public Development Costs of the TIF District, are itemized in Figure 2-1 that follows. Such costs are eligible for reimbursement from tax increments, and other listed sources of revenue from the TIF District. The City reserves the right to administratively adjust the amount of any of the Public Development Cost items listed in Figure 2-1, so long as the total estimated tax increment project costs amount,not including financing costs, is not increased. DRAFT FOR PUBLIC HEARING 3/21/2022 4 Agenda Page 19 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 FIGURE 2-1 ESTIMATED SOURCES AND USES OF FUNDS Total Estimated Tax Increment Revenues(from tax increment generated by the district) Tax increment revenues distributed from the County $1,137,305 Interest and investment earnings $20,000 Sales/lease proceeds $0 Market value homestead credit $0 Total Estimated Tax Increment Revenues $1,157,305 Estimated Project/Financing Costs(to be paid or financed with tax increment) Project costs Land/building acquisition $602,000 Site improvements/preparation costs $420,000 Utilities $60,000 Other qualifying improvements $38,000 Administrative costs $37,305 Estimated Tax Increment Project Costs $1,157,305 Estimated financing costs Interest expense $0 Total Estimated Project/Financing Costs to be Paid from Tax Increment $1,157,305 Estimated Financing Total amount of bonds to be issued $1,157,305 2.04.4 Administrative Expense The City plans to use tax increment revenues to pay for administrative expenses for the TIF District. The use of tax increment revenues to pay administrative expenses will not exceed the maximum amount of ten percent of tax increment revenues pursuant to the TIF Act.The City will use these monies to pay for and reimburse the City for costs of administering the TIF district as allowed by the TIF Act. The estimated amount of tax increment revenue planned to pay administrative expense is shown in Figure 2-1.Anticipated administrative expenses of the TIF District include annual audit of the fund for TIF District, preparation of annual reporting,legal publication of annual report, and administration of the development agreement. 2.04.5 County Road Costs The proposed development will not substantially increase the use of county roads and necessitate the need to use tax increments to pay for county road improvements. 2.04.6 Bonded Indebtedness The total amount of bonds estimated to be issued is shown in Figure 2-1. The City will not issue general obligation bonded indebtedness as a result of the TIF Plan. Pursuant to Section 469.178, subdivision 7 of the TIF Act, the City may advance or loan money to finance expenditures under Section 469.176, subdivision 4, from the general fund of the City or any other legally authorized fund under which it has legal authority to do so, subject to the following provisions: DRAFT FOR PUBLIC HEARING 3/21/2022 5 Agenda Page 20 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 (a) Not later than 60 days after money is transferred, advanced, or spent, whichever is earliest, the loan or advance must be authorized by resolution of the City. (b) The resolution may generally grant to the City the power to make interfund loans under one or more tax increment financing plans or for one or more districts. The resolution may be adopted before or after the adoption of the tax increment financing plan or the creation of the tax increment financing district from which the advance or loan is to be repaid. (c) The terms and conditions for repayment of the loan must be provided in writing. The written terms and conditions may be in any form,but must include, at a minimum, the principal amount,the interest rate, and maximum term. Written terms may be modified or amended in writing by the City before the latest decertification of any tax increment financing district from which the interfund loan is to be repaid. The maximum rate of interest permitted to be charged is limited to the greater of the rates specified under Minnesota Statutes, Section 270C.40 or 549.09 as of the date the loan or advance is authorized,unless the written agreement states that the maximum interest rate will fluctuate as the interest rates specified under Minnesota Statutes, Section 270C.40 or 549.09 are from time to time adjusted. Loans or advances may be structured as draw- down or line-of-credit obligations of the lending fund. (d)The City shall report in the annual report submitted under Section 469.175, subdivision 6 of the TIF Act: (1) the amount of any interfund loan or advance made in a calendar year; and (2) any amendment of an interfund loan or advance made in a calendar year. 2.04.7 Duration of TIF District The duration to collect and spend tax increments on eligible purposes is set at the maximum duration of eight (8)years after the date of receipt of the first tax increment or nine (9) years of tax increment collection. The estimated date for receipt of the first tax increment is July 1, 2024, and the decertification date is December 31, 2032. 2.04.8 Estimated Impact on Other Taxing Jurisdictions Exhibits III and IV show the estimated impact on other taxing jurisdictions if the maximum projected retained captured net tax capacity of the TIF District was hypothetically available to the other taxing jurisdictions. The City believes that there will be no adverse impact on other taxing jurisdictions during the life of the TIF District, since the Development would not have occurred without the establishment of the TIF District and the provision of public assistance. A positive impact on other taxing jurisdictions will occur when the TIF District is decertified and the Development therein becomes part of the general tax base. The City anticipates minimal impact of the Development on city-provided services. There may be minimal borrowing costs to the City for the Development. A manageable increase in water and sewer usage is expected. It is anticipated that there may be a slight but manageable increase in police and fire protection duties due to the Development. 2.04.9 Prior Planned Improvements There have been no building permits issued in the last 18 months in conjunction with any of the properties within the TIF District. The City will include this statement with the request for certification to the county auditor. DRAFT FOR PUBLIC HEARING 3/21/2022 6 Agenda Page 21 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 ARTICLE III — ADMINISTERING THE TIF DISTRICT SECTION 3.01 FILING AND CERTIFICATION The filing and certification of the TIF Plan consists of the following steps: 1. Upon adoption of the TIF Plan, the City shall submit a copy of the TIF Plan to the Minnesota Department of Revenue and the Office of the State Auditor. 2. The City shall request that the county auditor certify the original net tax capacity and net tax capacity rate of the TIF District. To assist the county auditor in this process, the City shall submit copies of the TIF Plan, the resolution establishing the TIF District and adopting the TIF Plan, and a listing of any prior planned improvements. 3. The City shall send the county assessor any assessment agreement establishing the minimum market value of land and improvements within the TIF District and shall request that the county assessor review and certify the assessment agreement as reasonable. The City does not expect to enter into an assessment agreement in connection with the Development. SECTION 3.02 MODIFICATIONS OF THE TAX INCREMENT FINANCING PLAN The City reserves the right to modify the TIF District and the TIF Plan. Pursuant to the TIF Act, the following actions can only be approved after satisfying all the necessary requirements for approval of the original TIF Plan(including notifications and public hearing): ■ Reduction or enlargement in the geographic area of the Development District or the TIF District. ■ Increase in the amount of bonded indebtedness to be incurred. ■ Increase in the amount of capitalized interest. ■ Increase in that portion of the captured net tax capacity to be retained by the City. ■ Increase in the total estimated Public Development Costs, including administrative costs of the City. ■ Designation of additional property to be acquired by the City. Other modifications can be made by resolution of the City. In addition,the original approval process does not apply if(A) (1) the only modification is elimination of parcels from the TIF District and (2) the current net tax capacity of the parcels eliminated equals or exceeds the net tax capacity of those parcels in the TIF District's original net tax capacity, or (B) the City agrees that the TIF District's original net tax capacity will be reduced by no more than the current net tax capacity of the parcels eliminated. The City must notify the county auditor of any modification that reduces or enlarges the geographic area of the TIF District. The geographic area of the TIF District may be reduced but not enlarged after five years following the date of certification. SECTION 3.03 FOUR-YEAR KNOCKDOWN RULE The provision of the TIF Act referred to as the Four-Year Knockdown Rule requires development activity to take place on each parcel within a tax increment financing(TIF) district within four years from the date of certification of the original net tax capacity of the district. If DRAFT FOR PUBLIC HEARING 3/21/2022 7 Agenda Page 22 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 development activity on a parcel has not begun within the required time frame,no additional tax increment may be collected from that parcel and its value must be excluded from the district's original net tax capacity. Development activity includes demolition,rehabilitation, renovation or site improvement, including a qualified improvement of an adjacent street,has commenced on a parcel located within the TIF District. If no development activity has occurred within four years from the date of certification then that parcel shall be excluded from the TIF District and the original net tax capacity shall be adjusted accordingly. The City must submit to the county auditor,by February I of the fifth year, evidence that the required activity has taken place for each parcel in the TIF District. If a parcel is excluded from the TIF District and the City or owner of the parcel subsequently commences any of the above activities, the City shall recertify to the county auditor that such activity has commenced and the parcel shall once again be included in the TIF District. The county auditor shall certify the net tax capacity of the parcel, as most recently certified by the Commissioner of Revenue,Minnesota Department of Revenue, and add such amount to the original net tax capacity of the TIF District. SECTION 3.04 POOLING AND FIVE-YEAR RULE At least 80%of the tax increments (not including administrative expenses)from the TIF District (the "In-District Percentage')must be expended on activities within the TIF District, including payment on any bonds for which the proceeds were used to finance activities within the TIF District. Up to 20% of the tax increments from the TIF District may be used to finance activities outside the TIF District but within the boundaries of the Development District. Tax increments are considered to have been"spent" within the TIF District if such amounts are: • actually paid to a third party for activities performed within the TIF District within five years after certification of the district; • used to pay bonds that were issued and sold to a third party, the proceeds of which are reasonably expected on the date of issuance to be spent within the later of the five-year period or a reasonable temporary period or are deposited in a reasonably required reserve or replacement fund. • used to make payments or reimbursements to a third party under binding contracts for activities performed within the TIF District, which were entered into within five years after certification of the district; or • used to reimburse a party for payment of eligible costs (including interest) incurred within five years from certification of the district. It is anticipated that all tax increments to be collected from within the TIF District and distributed by the County will be spent or obligated within five years from the date of certification of the TIF District. SECTION 3.05 FINANCIAL REPORTING AND DISCLOSURE REQUIREMENTS The City will comply with the annual reporting requirements of the TIF Act pursuant to the guidelines of the Office of the State Auditor. Under current law, the City must prepare and submit a report on the TIF District on or before August I of each year. The City must also annually publish in a newspaper of general circulation in the City an annual statement for the TIF District, in the format as prescribed by the Office of the State Auditor. The reporting and disclosure requirements outlined in this section begin with the year a tax increment financing district is certified, and shall end in the year in which both the district DRAFT FOR PUBLIC HEARING 3/21/2022 8 Agenda Page 23 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 has been decertified and all tax increments have been spent or returned to the County for redistribution. Failure to meet these requirements, as determined by the State Auditors Office, may result in suspension of distribution of tax increments. SECTION 3.06 BUSINESS SUBSIDY COMPLIANCE The City will comply with the business subsidies requirements specified in Minnesota Statutes, Sections 116J.993 to 116J.995. DRAFT FOR PUBLIC HEARING 3/21/2022 9 Agenda Page 24 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 Exhibit I City of Albertville Tax Increment Financing District No. 20 Present Value Analysis As Required By Minnesota Statutes, Section 469.175, subdivision (3)(b)(2) Scherer Brothers 1 Estimated Future Market Value w/Tax Increment Financing 5,522,569 2 Payable 2021 Market Value 602,000 3 Market Value Increase (1-2) 4,920,569 4 Present Value of Future Tax Increments 904,786 5 Market Value Increase Less PV of Tax Increments 4,015,783 6 Estimated Future Market Value w/o Tax Increment Financing 651,880 7 Payable 2021 Market Value 602,000 8 Market Value Increase (6-7) 49,880 9 Increase in MV From TIF 3,965,903 2 Assume 7.00% annual appreciation over 9 year life of district. 2 Statutory compliance achieved if increase in market value from TIF(Line 9) is greater than or equal to zero. DRAFT FOR PUBLIC HEARING 3/21/2022 10 Agenda Page 25 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 Exhibit II City of Albertville Tax Increment Financing District No. 20 (Economic Development) Scherer Brothers Projected Tax Increment Cash Flow Taxable Less Base Available TIF Taxes Captured Tax Market Tax Tax Present District Payable Tax Tax Rate z Increment Value(TMV) Capacity Capacity Value s Year Year 1,6 4 Capacity s Financing (TIF)a 1 2024 5,100,000 101,250 (11,290) 89,960 134.723% 120,761 112,309 2 2025 5,151,000 102,270 (11,290) 90,980 134.723% 122,130 221,480 3 2026 5,202,510 103,300 (11,290) 92,010 134.723% 123,513 327,600 4 2027 5,254,535 104,341 (11,290) 93,051 134.723% 124,910 430,753 5 2028 5,307,080 105,392 (11,290) 94,102 134.723% 126,321 531,021 6 2029 5,360,151 106,453 (11,290) 95,163 134.723% 127,744 628,481 7 2030 5,413,753 107,525 (11,290) 96,235 134.723% 129,184 723,213 8 2031 5,467,890 108,608 (11,290) 97,318 134.723% 130,637 815,290 9 2032 5,522,569 109,701 (11,290) 98,411 134.723% 132,106 904,786 TOTAL= 1,137,305 904,786 Assumptions: 1 Taxable market value (TMV) annual growth assumption = 1.00% 2 Original Tax Capacity Rate estimated based on Taxes Payable Year 2021. 3 Election for captured tax capacity is 100.00% 4 Base Tax Capacity calculated based on a TMV=$602,000.The TIF District will include 13.59 acres.Valuation is based on County Assessor preliminary estimate for Pay 2023 (which reflects an anticpated reduction in the valuation from year 2022). 5 Present value estimated based on semi-annual payments,4.0% rate, and date of 1/1/2023. 6 TMV is based on estimate from County Assessor for 55,600 SF building.Assumes Year 2024 is first year for tax increment and based on completion of construction in year 2022. Depending on timing of construction it is possible that the first year of tax increment may be based on partial completion of the building in year 2022 for taxes first payable in 2024. 7 City to retain 3%of the TIF for City administration costs. 8 Available TIF after State Fee is calculated based captured tax increments less State Auditor Fee of 0.36%. DRAFT FOR PUBLIC HEARING 3/21/2022 11 Agenda Page 26 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 Exhibit III City of Albertville Tax Increment Financing District No.20 Impact on Other Taxing Jurisdictions (Taxes Payable 2021) Scherer Brothers Annual Tax Increment Estimated Annual Captured Tax Capacity(Full Development) $109,701 Payable 2021 Local Tax Rate 134.723% Estimated Annual Tax Increment $147,793 Percent of Tax Base Net Tax Captured Percent of Capacity Tax Total NTC (NTC) s Capacity City of Albertville 9,224,487 109,701 1.19% Wright County 188,435,241 109,701 0.06% ISD 885 26,592,918 109,701 0.41% Dollar Impact of Affected Taxing Jurisdictions Net Tax Tax Added Capacity %of Total Increment TaaxxLocal Rate (NTC) Share City of Albertville 46.801% 34.739% 51,341 0.557% Wright County 43.717% 32.450% 47,958 0.025% ISD 885 44.205% 32.812% 48,493 0.182% Other 0.000% 0.000% 0 Totals 134.723% 100.000% 147,792 NOTE NO. 1: Assuming that ALL of the captured tax capacity would be available to all taxing jurisdictions even if the City does not create the Tax Increment District the creation of the District will reduce tax capacities and increase the local tax rate as illustrated in the above tables. NOTE NO. 2: Assuming that NONE of the captured tax capacity would be available to the taxing jurisdiction if the City did not create the Tax Increment District, then the plan has virtually no initial effect on the tax capacities of the taxing jurisdictions. However, once the TIF District is established, allowable costs paid from the increments, and the TIF District is terminated, all taxing jurisdictions will experience an increase in their tax hncP DRAFT FOR PUBLIC HEARING 3/21/2022 12 Agenda Page 27 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 Exhibit IV City of Albertville Tax Increment Financing(Economic Development)District No.20 Scherer Brothers Estimated Tax Increments Over Maximum Life of District Based on Pay2021 Tax Rate= 734.723% 46.807% 43.717% 44.205% 0.000% School New Estimated City County District Other TIF Taxes Taxable New Base Captured Total Tax TIF TIF TIF TIF District Payable Market Tax Tax Tax Increment Related Related Related Related Year Year Value Capacity Capacity Capacity (TIF) Share Share Share Share 1 2024 5,100,000 101,250 11,290 89,960 121,197 42,102 39,328 39,767 - 2 2025 5,151,000 102,270 11,290 90,980 122,571 42,580 39,774 40,218 - 3 2026 5,202,510 103,300 11,290 92,010 123,959 43,062 40,224 40,673 - 4 2027 5,254,535 104,341 11,290 93,051 125,361 43,549 40,679 41,133 - 5 2028 5,307,080 105,392 11,290 94,102 126,777 44,040 41,138 41,598 - 6 2029 5,360,151 106,453 11,290 95,163 128,206 44,537 41,602 42,067 - 7 2030 5,413,753 107,525 11,290 96,235 129,651 45,039 42,071 42,541 - 8 2031 5,467,890 108,608 11,290 97,318 131,109 45,546 42,544 43,019 - 9 2032 5,522,569 109,701 11,290 98,411 132,583 46,058 43,023 43,503 - Total 1,141,414 396,513 370,383 374,519 - Note: The Estimated Total Tax Increment shown above is before deducting the State Auditor's fee,which is payable at a rate of 0.36%of the Total Tax Increment collected.Exhibit II provides Estimated Total Tax Increment after deducting for the State Auditor's fee. DRAFT FOR PUBLIC HEARING 3/21/2022 13 Agenda Page 28 TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 20 EXHIBIT V Map of Boundaries of Tax Increment Financing District No. 20 and Municipal Development District No. 1 Boundaries of Tax Increment Financing District No.20 include the immediate adjacent roads and right-of-way Boundaries of Municipal District No. 1 is coterminous with the municipal boundaries of the City of Albertville x I x 1 rLn CD rho z O W 1 IV � 1 O (D O. ® 0Yrn ®®® M o � I LIU � 1 1 1 1 1 1 1 / 1 n oa o cs r W E. Cr PQ 0 Z z m .. n m n• o g f rtrt ZCD C m o z C lD .- - DRAFT FOR PUBLIC HEARING 3/21/2022 14 Agenda Page 29 EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ALBERTVILLE,MINNESOTA HELD: MARCH 21,2022 Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the City of Albertville, Wright County, Minnesota, was duly called and held at the City Hall, on March 21, 2022, at 7:00 P.M. The following members of the Council were present: and the following were absent: Member introduced the following resolution and moved its adoption: CITY OF ALBERTVILLE COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO. 2022-07 RESOLUTION APPROVING THE ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 20 WITHIN MUNICIPAL DEVELOPMENT DISTRICT NO. 1; APPROVING THE TAX INCREMENT FINANCING PLAN THEREFOR; AND AUTHORIZING AN INTERFUND LOAN A. WHEREAS, it has been proposed that the City of Albertville, Minnesota (the "City") (1) establish Tax Increment Financing District No. 20 (the "TIF District") within Municipal Development District No. 1 (the 'Development District"); (2) approve and adopt the proposed Tax Increment Financing Plan therefor under the provisions of Minnesota Statutes, Sections 469.174 to 469.1794, as amended (the "Act"); and (3) authorize an Interfund Loan (hereinafter defined); and B. WHEREAS, the City Council has investigated the facts and has caused to be prepared a proposed tax increment financing plan for the TIF District therein (the "TIF Plan"); and C. WHEREAS, the City has performed all actions required by law to be performed prior to the approval of the modification of the Development District and the establishment of the TIF District therein, and the adoption of the TIF Plan therefor, including, but not limited to, notification of Wright County and Independent School District No. 885 having taxing jurisdiction over the property to be included in the TIF District, and the holding of a public hearing upon published and mailed notice as required by law; and Agenda Page 30 City of Albertville,MN Resolution No.2022-07 Meeting of March 21,2022 Page 2 NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Albertville follows: 1. Development District. The City is not modifying the boundaries of the Development District. 2. Tax Increment Financing District No. 20. There is hereby established in the City within the Development District, Tax Increment Financing District No. 20, an economic development tax increment financing district, the initial boundaries of which are determined as described in the TIF Plan. 3. Tax Increment Financing Plan. The TIF Plan is adopted as the tax increment financing plan for the TIF District, and the City Council makes the following findings: (a) The TIF District is an economic development district as defined in Minnesota Statutes, Section 469.174, Subd. 12, the specific basis for such determination is set forth in Section 2.03.3 of the TIF Plan. (b) The proposed development, in the opinion of the City Council, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future. The reasons for such determination are set forth in Section 2.02.5 of the TIF Plan. (c) In the opinion of the City Council, the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the TIF District permitted by the TIF Plan. The reasons supporting this finding are set forth in Section 2.0.5 and Exhibit I of TIF Plan. (d) The TIF Plan for the TIF District conforms to the general plan for development or redevelopment of the City as a whole. The reasons for supporting this finding are set forth in Section 2.02.2 of the TIF Plan. (e) The TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development or redevelopment of the Development District by private enterprise. The reasons supporting this finding are set forth in Section 2.02.5 of the TIF Plan. 4. Public Purpose. The adoption of the TIF Plan for the TIF District within the Development District conforms in all respects to the requirements of the Act and will help fulfill a need to develop an area of the State which is already built up to provide employment opportunities, to improve the tax base and to improve the general economy of the State and thereby serves a public purpose. Agenda Page 31 City of Albertville,MN Resolution No.2022-07 Meeting of March 21,2022 Page 3 5. Certification. The Auditor of Wright County is requested to certify the original net tax capacity of the TIF District as described in TIF Plan, and to certify in each year thereafter the amount by which the original net tax capacity has increased or decreased in accordance with the Act; and the City Administrator is authorized and directed to forthwith transmit this request to the County Auditor in such form and content as the Auditor may specify, together with a list of all properties within the TIF District for which building permits have been issued during the 18 months immediately preceding the adoption of this Resolution. 6. Filing. The City Administrator is further authorized and directed to file a copy of the Modification and TIF Plan for the TIF District with the Commissioner of Revenue and the Office of the State Auditor. 7. Interfund Loan. The City has determined that it may pay for certain costs (the "Qualified Costs") identified in the TIF Plan which costs may be financed on a temporary basis from the City's general fund or any other fund from which such advances may be legally made (the "Fund"). Under Minnesota Statutes, Section 469.178, Subd. 7, the City is authorized to advance or loan money from the Fund in order to finance the Qualified Costs. The City intends to reimburse itself for the payment of the Qualified Costs, plus interest thereon, from tax increments derived from the TIF District in accordance with the following terms (which terms are referred to collectively as the "Interfund Loan"): (a) The City shall repay to the Fund from which the Qualified Costs are initially paid, the principal amount of$907,000 (or, if less, the amount actually paid from such fund) together with interest at 4.00% per annum (which is not more than the greater of (i) the rate specified under Minnesota Statutes, Section 270C.40, or (ii) the rate specified under Minnesota Statutes, Section 549.09) from the date of the payment. (b) Principal and interest on the Interfund Loan ("Payments") shall be paid annually on each December 31 commencing with the date the tax increments from the TIF District are available and not otherwise pledged to and including the earlier of(a) the date the principal and accrued interest of the Interfund Loan is paid in full, or (b) the date of last receipt of tax increment from the TIF District ("Payment Dates") which Payments will be made in the amount and only to the extent of available tax increments. Payments shall be applied first to accrued interest, and then to unpaid principal. (c) Payments on the Interfund Loan are payable solely from the tax increment generated in the preceding twelve (12) months with respect to the TIF District and remitted to the City by Wright County, all in accordance with Minnesota Statutes, Sections 469.174 to 469.1794, as amended. Payments on this Interfund Loan are subordinate to any outstanding or future bonds, notes or contracts secured in whole or in part with tax increment, and are on parity with any other outstanding or future interfund loans secured in whole or in part with tax increments. Agenda Page 32 City of Albertville,MN Resolution No.2022-07 Meeting of March 21,2022 Page 4 (d) The principal sum and all accrued interest payable under this Interfund Loan are pre-payable in whole or in part at any time by the City without premium or penalty. No partial prepayment shall affect the amount or timing of any other regular payment otherwise required to be made under this Interfund Loan. (e) The Interfund Loan is evidence of an internal borrowing by the City in accordance with Minnesota Statutes, Section 469.178, Subd. 7, and is a limited obligation payable solely from tax increment pledged to the payment hereof under this resolution. The Interfund Loan and the interest hereon shall not be deemed to constitute a general obligation of the State of Minnesota or any political subdivision thereof, including, without limitation, the City. Neither the State of Minnesota, nor any political subdivision thereof shall be obligated to pay the principal of or interest on the Interfund Loan or other costs incident hereto except out of tax increment, and neither the full faith and credit nor the taxing power of the State of Minnesota or any political subdivision thereof is pledged to the payment of the principal of or interest on the Interfund Loan or other costs incident hereto. The City shall have no obligation to pay any principal amount of the Interfund Loan or accrued interest thereon, which may remain unpaid after the termination of the TIF District. (f) The City may amend the terms of the Interfund Loan at any time by resolution of the City Council, including a determination to forgive the outstanding principal amount and accrued interest to the extent permissible under law. The motion for adoption of the foregoing resolution was duly seconded by member and, after full discussion thereof, and upon a vote being taken thereof, the following voted in favor thereof: and the following voted against same: Adopted by the City Council of the City of Albertville this 21st day of March 2022. Jillian Hendrickson, Mayor ATTEST: Adam Nafstad, City Administrator Agenda Page 33 City of Albertville,MN Resolution No.2022-07 Meeting of March 21,2022 Page 5 STATE OF MINNESOTA WRIGHT COUNTY CITY OF ALBERTVILLE I, the undersigned, being the duly qualified and acting City Administrator of the City of Albertville, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council of said City, duly called and held on the date therein indicated, insofar as such minutes relate to the establishment of the Tax Increment Financing District No. 20, the adoption of a tax increment financing plan and authorization of an interfund loan. WITNESS my hand as such City Administrator of the City Council of the City of Albertville,Minnesota this 21'day of March, 2022. Adam Nafstad, City Administrator Agenda Page 34 �lbcrtvillc Mayor and Council Request for Action March 21, 2022 SUBJECT: LEGAL - SALE OF PROPERTY TO SCHERER BROS LIMITED PARTNERSHIP RECOMMENDATION: It is respectfully requested that the Mayor and Council consider the following: MOTION TO: 1. Approve the Purchase Agreement between the City and Scherer Limited Partnership and authorize its execution by the Mayor and City Clerk; And 2. Authorize the release of Outlot B,Northwest Commercial Park from the following documents: A. Terms and conditions of Developer's\Planned Unit Development Agreement, filed May 1, 1999, as Document No. 677246 (First Outlet Mall Developer's Agreement) Amended by First Amendment to Developer's\Planned Unit Development Agreement, filed February 29, 2000, as Document No. 703145 (amendment to First Outlet Mall Developer's Agreement. B. Resolution No. 2003-31, Resolution Eliminating Land from Consideration for Wetland Mitigation, filed December 3, 2002, as Document No. 819518. BACKGROUND: Scherer Bros Lumber Company has entered into an agreement to sell its current truss manufacturing facility located in the Barthel Industrial Park to a neighboring business. As a result, Scherer Bros intends on building a new manufacturing facility on Outlot C, Northwest Industrial Park ("Property"), which is owned by the City and is located immediately north of the Outlet Mall. City staff has negotiated the attached Vacant Land Purchase Agreement with Scherer Bros for the sale of the Property. The purchase price for the land is $1. The purchase agreement is contingent upon the establishment of the Tax Increment Financing (TIF) District(also on the March 21st agenda) and Scherer Bros and the City entering into a TIF Agreement, which will be on the April 4th agenda. The purchase agreement calls for the City to waive most development fees and $25,000 of the building permit fees (but not park dedication fees), but the City will recover the first $700,000 in TIF funds from the TIF District. The remaining $400,000 will go to Scherer Bros to help defray its development costs. The purchase agreement requires Scherer Bros to build a building on the property and maintain the value of the property in an amount at least $5.1 million during the TIF. If Scherer Bros fails to build the building, it must convey the property back to the City or pay the City$700,000. Agenda Page 35 Mayor and Council Request for Action—March 21,2022 Legal- Sale of Property to Scherer Bros Partnership Page 2 of 2 The purchase agreement obligates the City to remove the Outlet Mall Development Agreement from the property title and a resolution relating the possibility that additional wetlands might have been created on this property related to the outlet mall. All of these agreements/resolution as they relate to the Property have expired or are no longer applicable to the Property. The Property has been owned by the City since 1999 and will now go back on the tax rolls with an industrial building built on the Property. KEY ISSUES: • The City will sell the Property to Scherer Bros for$1. • The Assessor's valuation on the land is $602,000 as of January 1, 2022. • Scherer Bros will relocate their truss manufacturing facility to the Property. • The City will establish a TIF on the Property from which the City will be paid approximately $600,000 for the land and$100,000 for development fees that are being waived. • Scherer Bros will construct a truss manufacturing facility on the site and will maintain a valuation of$5.1 million on the site during the life of the TIF. • Closing is expected to occur on April 6, 2022. POLICY/PRACTICES CONSIDERATIONS: The City has sold one other industrial property in the recent past under a similar arrangement where the City established a TIF on the property and received payment for the land from the proceeds of the TIF or reimbursed the developer for the purchase price of the land from the proceeds of the TIF. FINANCIAL CONSIDERATIONS: The City has paid taxes on this Property for approximately the past 5 years (taxes were $34,000 in 2021). Returning the Property to the tax rolls will save the City from paying taxes on the Property in the future and result in tax revenue to the City. The City is slated to recover the entire value of the property ($602,000) and a majority of the development fees it will be waiving from the TIF. When the TIF expires, the City will continue to receive real estate taxes from the improved Property. LEGAL CONSIDERATIONS: The City has the authority under state law to enter into a purchase agreement for the sale of the Property to any party that the City deems to be in the best interest of the public. Department/Responsible Person: Mike Couri, City Attorney Submitted Through: Adam Nafstad, City Administrator-PWD Attachments: • Vacant Land Purchase Agreement Agenda Page 36 VACANT LAND PURCHASE AGREEMENT Date: March , 2022 1. The City of Albertville ("Seller") agrees to sell and Scherer Limited Partnership, a Minnesota limited partnership ("Buyer") agrees to buy, according to the terms of this Purchase Agreement, the property located at: 67th Street, Albertville,MN legally described as: Outlot B,NORTHWEST COMMERCIAL PARK, Wright County, Minnesota ("Property"); including the following property, if any, owned by Seller and located on said Property, including all plants, shrubs and trees; all of which property Seller has this day agreed to sell to Buyer for the purchase price of$1.00 and the undertakings set forth in this Purchase Agreement. 2. From and after the date of this Agreement Seller grants permission of access to the Property for testing and surveying purposes by Buyer. In addition, at Buyer's option, Buyer may, prior to closing, enter onto the Property for purposes of importing fill material and grading the Property. Buyer agrees to hold harmless, defend and indemnify Seller from any claims that may arise related to Buyer's testing, surveying importing and exporting of soils and grading of the Property, and Buyer shall promptly satisfy or contest in good faith any mechanic's liens that may be placed on the Property as a result of such activity. 3. Buyer assumes full responsibility for ensuring that the soils on the Property are suitable for Buyer's building needs, and Buyer agrees that it shall take the Property in "as-is" condition with regard to soil conditions. 4. To the best of the Seller's knowledge there are no hazardous wastes, abandoned wells, or underground storage tanks on the Property, except as herein noted: None. 5. Buyer's obligations under the Agreement are contingent on the Property being rezoned by Seller to the industrial zoning classification on or before March 22, 2022. If the Property is not rezoned by such date, Buyer may, at its option, terminate this Agreement by written notice to Seller. In the event of such rezoning, Buyer's use shall comply with the terms of the industrial zoning classification as rezoned by Seller. Buyer shall plat the Property into a numbered lot and block at Buyer's expense. 6. The parties intend for Buyer to construct an approximately 60,000 square foot concrete tip-up industrial building on the Property over which Seller intends to establish a tax increment financing district, the proceeds of which Seller intends to use to initially pay itself back for the value of the Property up to a total of$700,000 plus an additional $34,119 in administrative costs of tax increment payments and thereafter, the balance of the tax increment payments will be paid to Buyer. Based on current projections, the foregoing split of tax increment payment will result in Seller receiving the payments for the first six (6) years and Buyer receiving the payments for the last three (3) years of the tax increment financing term. Assuming that the 1 Agenda Page 37 contingencies to Buyer's obligations under this Agreement are satisfied and Buyer closes on the purchase of the Property, Buyer obligates itself to construct such a building. In the event Buyer does not construct an approximately 60,000 square foot building on the Property by July 31, 2023 or be in the process of constructing said building and ultimately diligently completing it, Buyer shall, at its option, either: 1) deed the Property back to Seller in substantially the same condition as Seller deeded it to Buyer and with no additional encumbrances on the Property than existed when Seller deeded the Property to Buyer; or 2)pay Seller$700,000, representing the fair market value of the Property at the time of the execution of this Agreement. 7. CONTINGENCIES: This agreement shall be subject to the following contingencies: A. Contingencies in favor of the Buyer: a. Rezoning of the Property to an Industrial classification which allows truss manufacturing as a permitted use. Buyer shall apply for such rezoning and pay all required fees for such rezoning, except those fees to be paid by Seller as set forth on Exhibit A attached hereto. b. Granting of a Conditional Use Permit for outdoor storage in a manner that will allow Buyer to store materials used in the manufacture of trusses and finished trusses. Buyer shall apply for such conditional use permit and pay all required fees, except as provided in this Agreement. c. Approval of a final plat for the Property platting the Property as a numbered lot and block. Buyer shall apply for such preliminary plat approval and shall pay all required fees except those fees to be paid by Seller as set forth on Exhibit A attached hereto. d. Seller and Buyer shall have agreed on a tax increment financing agreement consistent with the terms of this Agreement. If the foregoing Buyer contingencies are not satisfied on or before March 22, 2022,Buyer may terminate this Agreement by written notice to Seller. B. Contingencies in favor of the Seller: a. Prior to closing, Buyer shall 1)have approval for financing from a commercial bank or other lender for a loan in an amount, together with Buyer's cash on hand, sufficient to fund the construction said 60,000 square foot building, or 2) demonstrate to Seller that Buyer has sufficient cash on hand to fund the construction of said 60,000 square foot building. The City agrees to act reasonably in its review of the foregoing. b. Buyer entering into an agreement with and acceptable to Seller and Buyer obligating Buyer to construct said 60,000 square foot building on the Property and operate it in a manner that will qualify it for tax 2 Agenda Page 38 increment financing under an economic development tax increment financing district for a period of nine (9) years. Said agreement shall include a minimum assessment agreement that will prohibit the assessed value of the of the Property from falling below $5,100,000. If the foregoing Seller contingencies are not satisfied on or before April 6, 2022, Seller may terminate this Agreement by written notice to Buyer. 8. Seller does not know whether the Property is in the designated 100 year flood plain area. 9. Seller warrants that the Property does not receive preferential tax treatment(i.e., Green Acres, etc.). 10. The closing of the sale and purchase of the Property shall occur on or before April 6, 2022. 11. DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a general Warranty Deed conveying marketable title, subject to: (A) Building and zoning laws, ordinances, state and federal regulations; (B) Reservation of any mineral rights by the State of Minnesota; (C)Utility and drainage easements which do not interfere with existing or planned improvements; (D) Rights of tenants as follows (unless specified, not subject to tenancies): None; (E) Drainage and utility easements over wetlands and over wetland mitigation sites as previously approved by Wright County; (F) Covenants protecting said wetlands and mitigation sites substantially as shown in the attached Exhibit B; (G)the encumbrances listed on Exhibit B attached hereto. 12. TITLE& EXAMINATION: Buyer may obtain a new survey of the Property ("New Survey"), which New Survey may be obtained by Buyer at its expense within twenty (20) days after Buyer's receipt of the Title Commitment, as defined below. Within ten (10) days after the Effective Date, Seller, at Seller's sole cost and expense, shall cause Custom Home Builders Title (the"Title Company")to provide to Buyer a current commitment for the issuance of an ALTA Form B owner's title insurance policy, in the amount of the Purchase Price, together with good legible copies of all documents constituting exceptions to Seller's title as reflected in the commitment (collectively,the "Title Commitment" and together with the New Survey, the"Title Evidence"). Buyer shall have seven (7) days after receipt of the last of the Title Evidence, to review the Title Evidence and to deliver to Seller in writing ("Buyer's Objection Notice") such objections as Buyer may have to anything contained or set forth in the Title Evidence, failing which Buyer shall be deemed to have approved all matters shown on the Title Evidence (the "Permitted Exceptions"). Seller shall, within seven (7) days after its receipt of Buyer's Objection Notice (the "Title Cure Period"), advise 3 Agenda Page 39 Buyer in writing ("Seller's Response")which objections (if any)it shall cure or cause to be cured prior to the Closing. In addition, Buyer shall have seven (7) days after receipt of any amendment, supplement or update to the Title Evidence to give Seller additional Objection Notices with respect to any exceptions on the amendment, supplement or update not previously disclosed to Buyer. Seller shall use its best efforts to cure the objections set forth in Buyer's Objection Notice. Notwithstanding anything to the contrary contained herein, Seller shall in all events be obligated to cause to be released on or before Closing (A) monetary liens filed against the Property of a discernible amount; (B) all items Seller agrees to cure in Seller's Response; (C) any exceptions to title created by Seller and not reflected in the Title Commitment; and(D)the Developer's/Planned Unit Development Agreement filed May 1, 1999 as Document No. 677246, as amended by First Amendment to Developer's/Planned Unit Development Agreement filed February 29, 2000 as Document No. 7031445 and Resolution 92003-32 Resolution Eliminating Land from Consideration for Wetland Mitigation filed December 3, 2002 as Document No. 819518. If, in Seller's Response, Seller declines to cure all items to which Buyer objected in Buyer's Objection Notice or if Seller fails to cure all items to which Buyer objected in Buyer's Objection Notice, Buyer shall be entitled to either: (i)terminate this Agreement by written notice to Seller given within seven (7) days after Buyer's receipt of Seller's Response or Seller's failure to cure all items to which Seller agreed to cure, as applicable, or (ii)proceed with the transaction as provided herein. Seller shall pay for the costs of the Title Commitment and Buyer shall pay any insurance premium on title insurance that Buyer obtains. 13. REAL ESTATE TAXES shall be paid as follows: Buyer shall pay, prorated from day of closing, real estate taxes due and payable in the year 2022. Seller shall pay, prorated to the day of closing, real estate taxes due and payable in the year 2022. 14. In the event the closing date is changed, the real estate taxes paid shall,if prorated, be adjusted to the new closing date. Seller warrants taxes due and payable in the year 2022 will be NON-HOMESTEAD classification. 15. SPECIAL ASSESSMENTS shall be paid as follows: Seller shall pay all special assessments outstanding or levied or pending or deferred as of the date of closing, including all special assessments related to the installation of curb, gutter, street, water, storm sewer and sanitary sewer installed in 67th Street. 16. BUYER SHALL ASSUME all special assessments that first become levied or pending after the date of closing. 17. SELLER SHALL PAY on date of closing any deferred real estate taxes (i.e.. Green Acres, etc.) or which are required as a result of the closing of this sale. Buyer shall pay real estate taxes due and payable in the year following closing and thereafter and 4 Agenda Page 40 any unpaid special assessments payable therewith and thereafter, the payment of which is not otherwise provided for above. 18. Buyer shall take the Property in "as is" condition and shall be responsible for ensuring that the Property is suitable for Buyer's intended use. Buyer shall pay for any necessary soil corrections or other work that may be necessary to make the Property suitable for Buyer's intended use. 19. BUYER SHALL PAY all charges incurred at the direction of Buyer in testing the soils on the Property, correcting soils on the Property, excavating bad soils from the Property, and hauling in good soils to the Property. Buyer shall satisfy any liens that may be placed on the Property prior to closing from such activities. 20. SELLER SHALL PAY or waive all development-related fees as indicated in the column entitled"Paid by City of Albertville" on the attached Exhibit A. Buyer shall pay all other development-related costs incurred in platting the Property and constructing the improvements required by this Agreement. 21. INSPECTION: Buyer has the right to inspect Property prior to closing. 22. GENERAL WARRANTIES: SELLER WARRANTS THAT THERE IS A RIGHT OF ACCESS TO THE PROPERTY FROM A PUBLIC RIGHT OF WAY. THESE WARRANTIES SHALL SURVIVE THE DELIVERY OF THE DEED. 23. SELLER WARRANTS THAT SELLER HAS NOT RECEIVED ANY NOTICE FROM ANY GOVERNMENTAL AUTHORITY AS TO VIOLATION OF ANY LAW, ORDINANCE OR REGULATION. IF THE PROPERTY IS SUBJECT TO RESTRICTIVE COVENANTS, SELLER WARRANTS THAT SELLER HAS NOT RECEIVED ANY NOTICE FROM ANY PERSON OR AUTHORITY AS TO A BREACH OF THE COVENANTS. ANY NOTICES RECEIVED BY SELLER WILL BE PROVIDED TO BUYER IMMEDIATELY. 24. RISK OF LOSS: if there is any loss or damage to the Property between the date hereof and the date of closing, for any reason including fire,vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. If the Property is destroyed or substantially damaged before the closing date, this Purchase Agreement shall become null and void, at Buyer's option, in which case Buyer and Seller agree to sign a cancellation of this Purchase Agreement. 25. DEFAULT: If title is as provided herein, and Buyer defaults in any of the agreements herein and such default is not cured within ten (10) days of written notice from Seller, Seller may terminate this Purchase Agreement. If Seller defaults in any of the agreements herein and such default is not cured within ten (10) days of written notice from Buyer, Buyer may terminate this Purchase Agreement. This provision shall not deprive either Buyer or Seller of the right of specific performance of this Agreement, provided this Purchase Agreement is not terminated, and further provided, as to 5 Agenda Page 41 specific performance, such action is commenced within six months after such right of action arises. Neither parry shall have the right to seek monetary damages against the other party, except that Seller may seek monetary damages if Buyer violates the terms of paragraph 6 of this Agreement or if Buyer fails to hold harmless, defend and indemnify Seller or fails to satisfy any liens placed on the Property as required in paragraph 2 of this Agreement. 26. TIME OF ESSENCE: Time is of the essence in this Purchase Agreement. 27. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed by the parties, shall constitute the entire Agreement between Seller and Buyer, and supersedes any other written or oral agreements between Seller and Buyer. This Purchase Agreement can be modified only in writing signed by Seller and Buyer. 28. POSSESSION: Seller shall deliver possession of the Property not later than date of closing. All interest,homeowner association dues,rents, fuel oil, liquid petroleum gas and all charges for city water, city sewer, electricity, and natural gas shall be prorated between the parties as of date of closing. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY NOT INCLUDED HEREIN from the Property by possession date. 29. Seller has not been represented by a real estate agent or broker in this transaction. Buyer is represented by Charlie Pfeffer of Pfeffer Real Estate, LLC,whose compensation will be paid by Buyer. 30. Immediately after the closing and the recording of the plat of Scherer Limited Partnership Addition at the Wright County Recorder's Office and before the recording of any mortgages or other encumbrances are recorded against the Property, Buyer shall record an executed original of the Minnesota Wetland Conservation Act Declaration of Restrictions and Covenants for Project-Specific Wetland Replacement attached as Exhibit C at the Wright County Recorder's Office. 31. The following paragraphs of this Agreement shall survive the closing: 2, 3, 4, 5, 6, 9, 19, 20, 22, 23, 25, 30 and 31. 32. Any notices required under this agreement shall be sent to Buyer and Seller at the following addresses: 6 Agenda Page 42 SELLER BUYER Albertville City Administrator Scherer Limited Partnership 5959 Main Avenue c/o Scherer Bros. Lumber Company P.O. Box 9 Attention: Peter L. Scherer Albertville,Minnesota 55301 9401 73rd Ave. N., 9400 Brooklyn Park, MN 55428 I, the owner of the Property, accept I agree to purchase the Property this agreement and authorize the for the price and on the terms and listing broker to withdraw said conditions set forth above. Property from the market, unless instructed otherwise in writing. Seller's Signature Date Buyer's Signature Date Seller's Printed Name Buyer's Printed Name Seller's Signature Date THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. 7 Agenda Page 43 Exhibit A Fees to be Paid by Buyer EXHIBIT "A" Scherer/City of Albertville Fee Schedule Fees based on 7.43 acres NET/9.3 acres Gross and 2022 Albertville Fee schedule Section Of Fee Paid By Paid By Schedule Subject Fee Developer City of Albertville Water and Sewer 9-1-2B2a Nonresidential SAC To Be Determined* X 9-1-2C2a Nonresidential WAC To Be Determined X 9-1-2-1D Water trunk access $1,925.00 per gross acre/$17 902.50 X 9-1-2-2D Sanitary sewer trunk $2 055.00 per gross acre/$19 522.50 X 9-2-5B Water meter-2"T10 $1,350.00 X 9-2-5B Water meter- 1.5"T10 $1,150.00 X Stormwater Utility 9-5-4B Connection charge $1,500.00 per gross acre$14,250.00 X Building Permit Fees 10-2-3A Permit Fees $25,000.00 Credit towards building permit fees X Subdivision 11-2-7A Park dedication: Industrial $2,500.00 Per Net Acre$18 575.00 X $18,575.00 $79,175.00* *Nonresidential SAC/WAC fees,when determined, to be paid by City of Albertville 1/11/2022 A-1 Agenda Page 44 Exhibit B Permitted Encumbrances 1. Real estate taxes for the Property which become due and payable after the date of Closing. 2. Terms and conditions of Easement for electric transmission line purposes, in favor of Northern States Power Company, as created in document filed August 6, 1990, as Document No. 476934. 3. A portion of the property contains wetlands which may be subject to federal, state, or local regulation. 4. Easements for utilities and drainage as shown on the recorded plat of Northwest Commercial Park. 74851376v4 A-1 Agenda Page 45 bcrtVj j j�l C Mayor and Council Request for Action March 21, 2022 SUBJECT: PLANNING- CROSSING CHURCH—EXTEND TERM OF INTERIM USE PERMIT WITHIN THE ALBERTVILLE OUTLET MALL SECOND ADDITION RECOMMENDATION: It is respectfully requested that the Mayor and Council consider the following motions: MOTION TO adopt Resolution No. 2022-08 approving an extension of the term of the interim use permit for Crossing Church located in the Albertville Promenade Outlet Mall on Lot 1, Block 1, Outlets at Albertville Second Addition. BACKGROUND: In February of 2019, the City of Albertville approved an amendment to the Outlets at Albertville Planned Unit Development District to allow Hospitality Businesses by interim use permits (IUP)within the Outlets of Albertville Second Addition to expand the range of use allowed within this portion of the Outlet Mall. The PUD district amendment included the following language. 33. Hospitality Businesses are permitted as an Interim Use within the Lot 1, Block 1, and Outlets of Albertville Second Addition Planned Unit Development with the following conditions: 1. Number: No more than two (2) Hospitality Businesses shall be located within Lot 1, Block 1 Outlets of Albertville Second Addition. 2. Size: Individual Hospitality Businesses shall be limited to a maximum occupancy of two hundred (200) people at a single event. 3. Hospitality Businesses shall obtain building permits and certificate of occupancy for building modifications needed to change the building occupancy from retail to assembly. 4. The siting of the Hospitality Business within the Outlets Promenade shall demonstrate appropriate required parking and traffic patterns that do not interfere with Outlet Mall operations or negatively impact surrounding land uses. 5. The term of the Hospitality Businesses interim use shall be limited to three (3) years from the date of Certificate of Occupancy. Said use may be renewed upon request of the applicant and approval of the City Council. Subsequent to the approval of the Outlet Mall PUD District amendment, the City approved an interim use permit for Crossing Church to occupy a portion of the Outlet Mall Promenade in the Outlets of Albertville Second Addition. The following conditions were attached to the interim use permit approval. Agenda Page 46 Mayor and Council Request for Action—March 21,2022 Planning- Crossing Church Interim Use Permit Page 2 of 2 1. Number: No more than two (2) Hospitality Businesses shall be located within Lot 1, Block 1 Outlets of Albertville Second Addition. 2. Size: Individual Hospitality Businesses shall be limited to a maximum occupancy of two hundred (200)people at a single event. 3. Hospitality Businesses shall obtain building permits and Certificate of Occupancy for building modifications needed to change the building occupancy from retail to assembly. 4. The siting of the Hospitality Business within the Outlets Promenade shall demonstrate appropriate required parking and traffic patterns that do not interfere with Outlet Mall operations or negatively impact surrounding land uses. 5. The term of the Hospitality Businesses interim use shall be limited to three (3) years from the date of Certificate of Occupancy. Said use may be renewed upon request of the applicant and approval of the City Council. The Crossing Church has met their conditions of approval and have occupied their location in the Outlet Mall Promenade for the past 3 years without complaint or issue. The term of their interim use permit is expiring. They have formally requested an extension of the interim use permit to allow for them to continue their occupancy in the Outlet Mall. Key Issues: • The Hospitality Businesses allow for commercial assembly land uses (i.e., conference centers, banquet halls)under RLUAIPA, these assembly uses also permit a church. • The City approved the IUP for Crossing Church in the Outlet Mall in 2019. • The Church has fulfilled their conditions of approval for the IUP and have received an occupancy permit for their location. • The IUP has a 3-year termination date unless extended through City Council approval. • The Church at its current location,has not resulted in nuisance or land use compatibility issues. • Staff recommends an extension of the IUP for Crossing Church until July 31, 2028, to correspond to their current lease expiration. POLICY CONSIDERATIONS: In accordance with State Law, City Council can establish a termination date for an IUP and may extend the date through Council action. FINANCIAL CONSIDERATIONS: There are no significant financial issues related to the IUP extension. LEGAL CONSIDERATIONS: In accordance with Council procedures,the Mayor and Council have the authority to approve or deny the extension of an IUP termination date, which requires a majority vote of the City Council and becomes effective upon publication. Responsible Person: Alan Brixius, City Planner Submitted through: Adam Nafstad, City Administrator-PWD Attachments: • Resolution No. 2022-08 Extending the Interim Use Permit for Crossing Church Agenda Page 47 CITY OF ALBERTVILLE COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO. 2022-08 RESOLUTION APPROVING EXTENSION OF THE TERM FOR THE INTERIM USE PERMIT FOR CROSSING CHURCH LOCATED ON LOT 1 BLOCK 1 OUTLETS OF ALBERTVILLE SECOND ADDITION WITHIN THE CITY OF ALBERTVILLE WHEREAS, Crossing Church interim use permit at the Outlets of Albertville was approved by the Albertville City Council on January 22, 2019, with conditions; and WHEREAS,the 2019 Crossing Church interim use permit was limited to a three-year duration unless renewed at the request of the applicant and approved by City Council; and WHEREAS,2022 represents the three-year termination date and Crossing Church has requested the City Council extend the term of their 1UP to allow the Church to continue their operations at their current address; and WHEREAS, City staff has reviewed the requested 1UP extension request and find no issues with extending the term of the interim use permit; and WHEREAS,the Albertville City Council met on March 21, 2022, to consider the IUP term extension and agrees with the recommendation of City staff. NOW,THEREFORE BE IT RESOLVED,that the City Council of Albertville, Minnesota hereby approves the term extension of the Crossing Church 1UP for six years ending on July 31, 2028, located on Lot 1, Block 1, Outlets at Albertville Second Addition. Adopted by the City Council of the City of Albertville this 21st day of March 2022. Jillian Hendrickson,Mayor ATTEST: Kristine A. Luedke, City Clerk Agenda Page 48 �1bcrtvillc Mayor and Council Request for Action March 21, 2022 SUBJECT: PLANNING—AMENDMENT TO THE ALBERTVILLE PREMIUM OUTLET MALL COMPREHENSIVE SIGN PLAN RECOMMENDATION: It is respectfully requested that the Mayor and Council consider the following motions: MOTION TO: adopt Resolution No. 2022-09 approving an amendment to the Albertville Premium Outlet Mall Comprehensive Sign Plan for Tenant Wall Signs and Tenant Temporary Signs on Lot 1, Block 1 Outlets of Albertville Addition and Lot 1 Block I Outlets of Albertville Second Addition located within the City of Albertville. BACKGROUND: In 1999, the City of Albertville approved a comprehensive sign plan as part of the overall planned unit development. This sign plan includes the design standards for all tenant signs. Recent tenant sign requests have not met the Outlet Malls standards requiring channel letters for permanent signs. The plan does not have any flexibility in standards for short- term leases. While City staff has made some accommodation for cabinet signs for tenants in the past; this accommodation was given with the requirement the Outlet Mall amend their sign standards to address current needs and sign designs to prevent conflict in the processing the tenant sign permits in the future. The Outlet Mall has submitted new sign plan language for consideration by the City Council. These changes provide individual tenant greater flexibility in the type and design of their wall signs. Key Issues: • The 1999,Albertville Outlet Mall PUD approval included a comprehensive sign plan for the entire Mall addressing the size, location and design of allowed tenant signs. • The Outlet Mall sign plan is only applicable to the Mall tenants and has no impact beyond the Mall. • The current Outlet Mall standards are more restrictive than City wide standards regarding the sign design. The Outlet Mall requires illuminated channel letters. • Recent tenants have requested cabinet signs, which fail to meet the Outlet Mall standards. • The proposed sign plan changes provide the opportunity for cabinets signs as an alternative to channel letters. The sign location and sizes remain unchanged from the original approved sign plan. • The Outlet Mall is also requesting alternative sign standards for short-term leases (35 months or less). These signs may be of a different material and design from the permanent signs. • The proposed changes do not add to the number of signs or expand the sign area. The changes to allow the cabinet signs will not be detrimental to the mall appearance and provide tenant options to make their tenant bay storefront distinctive. Agenda Page 49 Mayor and Council Request for Action—March 21,2022 Planning—Amend Albertville Outlet Mall Sign Plan Page 2 of 2 • The short-term sign standards will allow the Mall great flexibility in addressing more transient tenants. • All tenant signs will still require a sign permit and building permit from the city. This review ensures sign code compliance. • If approved,the Albertville Outlet Mall Supplemental Sign Permit Form will be revised to include the new sign plan standards. • Based on our experience with past tenant sign applications and the review of the proposed amended Outlet Mall Sign Plan changes, staff recommends approval of the proposed changes outlined in Resolution No. 2022-09. POLICY CONSIDERATIONS: The proposed changes to the Outlet Mall Sign Standards provide Mall tenants with a variety of sign options. The number, location and size of the tenant signs remains unchanged. FINANCIAL CONSIDERATIONS: There are no significant Financial issues related to the changes to the Outlet Mall comprehensive sign plan. LEGAL CONSIDERATIONS: In accordance with Council procedures,the Mayor and Council have the authority to approve or deny the changes to the Outlet Mall comprehensive sign plan, which requires a majority vote of the City Council. Responsible Person: Alan Brixius, City Planner Submitted through: Adam Nafstad, City Administrator-PWD Attachments: • Resolution No. 2022-09 amending the Albertville Outlet Mall Comprehensive Sign Plan • Map of Outlet Mall Agenda Page 50 CITY OF ALBERTVILLE COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO. 2022-09 RESOLUTION APPROVING AN AMENDMENT TO THE ALBERTVILLE PREMIUM OUTLET MALL COMPREHENSIVE SIGN PLAN FOR TENANT WALL SIGNS AND TENANT TEMPORARY SIGNS ON LOT 1,BLOCK 1 OUTLETS OF ALBERTVILLE ADDITION AND LOT 1 BLOCK 1 OUTLETS OF ABERTVILLE SECOND ADDITION LOCATED WITHIN THE CITY OF ALBERTVILLE WHEREAS,in 1999,the City of Albertville approved a comprehensive sign plan as part of the overall Planned Unit Development. This sign plan established sign design standards for tenant wall signs and tenant temporary signs. The PUD granted flexibility in sign size, height and location; and WHEREAS, Simon Properties has requested a PUD amendment to update the comprehensive sign plan to expand the variety of sign types that may be used by tenants. The changes in sign design are significant enough to mandate an amendment to the Outlet Mall comprehensive sign plan; and WHEREAS, City staff has reviewed the requested PUD Amendment and prepared the Request for Council Action (RCA) dated March 21, 2022; and WHEREAS,the Albertville City Council met on March 21, 2022, to consider the PUD Amendment and agrees with City staff recommendation. NOW,THEREFORE BE IT RESOLVED, that the City Council of Albertville, Minnesota hereby approves the PUD Amendment changing the Albertville Outlet Mall Sign plan to include the following amended design standards. Walls Signs: 1. West Outlet Mall buildings (Buildings A,B,C) Sign is composed of individual internally illuminated channel letters mounted directly to the building facade or combination face/halo lit cabinet signs. Maximum overall height of the sign shall not exceed 36 inches for a single or double line copy. 2. East Outlet Mall buildings (Buildings D,E,F,G) Sign for concrete wall is composed of individual reverse channel letters mounted to the top of raceway. Sign for an EIFS Wall and/or tower feature is composed of individual reverse channel letters or combination of face/halo lit cabinet mounted to the wall directly with spacers. Maximum overall height of the sign shall not exceed 36 inches for a single or double line copy. 3. The length of signs on internal storefronts do not exceed 75% of the tenant's storefront width. Agenda Page 51 City of Albertville,MN Resolution No.2022-09 Meeting of March 21,2022 Page 2 Temporary Signs for Short-term Leases. 1. Option 1: (0-35 months) 3/4 inch thick cut out acrylic letters mounted with 1/z inch spacers and screwed to the facia with appropriate hardware for the wall condition. Sign size not to exceed size permitted for permanent signs. 2. Option 2: 0-35 months) 3/4 inch thick cut out acrylic letter mounted to 1-inch-deep aluminum panel system. Panel is screwed to the fascia with appropriate hardware for wall condition. Screw heads are covered with background panel color. Sign size not to exceed size permitted for permanent signs. 3. Option 3: less than 12 months) 1/8-inch ACM panel with digitally printed graphic. Panel is screwed to fascia with appropriate hardware for the wall condition. Screw heads are covered with background panel color. Sign size not to exceed size permitted for permanent signs. 4. Temporary Blade: The sigh height does not exceed 1 foot and sign width does not exceed 3 feet. Sign is composed of a vinyl copy applied to a 1/8-inch-thick aluminum panel. These signs are approved contingent on the property owner obtaining necessary sign and building permits for the new signs. The Council directs City staff to revise the Albertville Outlet Mall Supplemental Sign Permit Form to reflect the approve changes of this resolution. Adopted by the City Council of the City of Albertville this 21st day of March 2022. Jillian Hendrickson,Mayor ATTEST: Kristine A. Luedke, City Clerk Agenda Page 52 I � rx RA ]S W���'] v � Ulm mv p NJ r — — — I i i I I V r r: e T ----- ---- ---- ----- --- '- f. co i i i ........ . ..... . ` f i- _ _ �--- -- Nbertville City Administrator's Update March 17, 2022 GENERAL ADMINISTRATION Recycling Schedule Changes: Beginning the week of March 28, Republic Services will be modifying its recycling route. Instead of picking up half the City one week and the other half of the City the next week, Republic will now pick up the entire City on the same day and follow the 'Blue' schedule. Notices will be sent to all impacted residents (everyone west of CR 19) in advance. To make the transition, those impacted will receive recycling pick-up two weeks in a row and then resume the every other week pick-up with the new schedule. NW Commercial Park Outlot B -Scherer Bros. Lumber: The hearing to establish TIF District No. 20 will take place at Monday's meeting and the TIF contract will be presented to Council at the April 4 meeting. The plat, rezoning, and CUP needed for the Scherer relocation were approved in February. Gas Franchise Fee: We are working on a fee option for the city's franchise with CenterPoint. We are waiting on information from CenterPoint and expect to have options for the Council to consider at the next meeting. STMA Ice Arena: At their meeting on March 14 the board reviewed and approved a $5 rate adjustment to the base rates approved the preliminary budget. The dryland space is generally complete with the exception of paint and clean-up. Parks Committee: The Park Committee did not meet in February. At their March meeting, the Committee will be coordinating Parks Night Out, as well as, continuing to develop a prioritized list of projects to be recommended to the Council at a future meeting. League of Minnesota Cities 2022 Annual Conference: This event will be held on Wednesday, June 22 through Friday, 24 in Duluth. Registration is now open for this in person event. Please let me know if you would like to attend this year. Summer Job Opportunities: The City is currently advertising for multiple seasonal summer positions for both the Public Works and Utilities Department. Further information is listed on the City's website. Minnesota GreenStep Cities: GreenStep Cities is a free, voluntary challenge, assistance and recognition program which provides a framework to help cities achieve more sustainable practices. If the Council is interested in additional information on the program, staff will bring back information for the Council to review in April. Agenda Page 54 ENGINEERING/PUBLIC WORKS Kingston Crossings: It is our understanding the developer will begin work on the 26 townhomes and one of the two 74-unit apartments this spring, and start the second 74-unit apartment building and the community building this fall. It is understood the project will take approximately 1 % years to construct. 53rd and CSAH 19 Signal: The signal justification report has been completed and sent to Wright County for review. Final design is underway and we anticipate bidding the project in the spring and constructing the signal late summer. Lift Station Upgrades: Public Works is working on 4 lift station upgrades. Generally, upgrades are related to control panels and electrical components. Eligible expenses can be paid with ARPA funds otherwise are paid with enterprise capital reserves. The Preserve at Albertville: Building permits are being issues for lots abutting a constructed street. In the spring, the Developer will complete the internal streets and construct the turn lane on CSAH 19. Advanced Volumetric Alliance: Building construction is ongoing with and the owners are working towards a spring/summer opening. Barthel Industrial Drive: The plans have received State Aid approval and are out for bid. Bids will be opened March 29 and presented to the Council on April 4. This project will largely be funded by the 2020 LRIP funds. 2022 Overlay: The plans are compete and out for bid. Bids will be opened on March 30 and presented to Council on April 4. CSAH 37 Project: The County opened bids for the project on February 24 and received 6 proposals ranging from $6,789,520 to $8,583,265, with Knife River submitting the low bid. Per the cost share agreement, Albertville's share of project is $216,015. The County Board awarded the contract at their March 8 meeting to Knife River. Upcoming Events: • Local Board of Appeals and Equalization, April 18 at 6:15 pm City Administrator's Update Page 2 of 2 March 17, 2022 Agenda Page 55