90-1696 � � f,� � ' `• ' � Council File � �� (O-/�
f Green Sheet ,� 11106
RESOLUTION �
C OF SAI PAUL, MI NESOTA a� -
� ' �
Presented By
Referred To Committee: Date
RE90LiTPION APPRUVING APPLICATION OF
EXPO GRAPHICS, INC. FOR C.LASSIFICATION
OF PRUPERTY IAC'ATID IN Tf� SAINr PAUL
RIVERFRONr ENPERPRISE ZO1� AS CGASS 4d
ENlP'LAYMEI�TP PROPEI�i'Y
W'f�REAg, �xpo Graphics, Inc. (the "Company") filed with the City Clerk an Ap-
plication for clas ification of its property located on the north side of Selby
Avenue between Avo and Grotto a5 Employment Property pursuant to Minnesota Statutes
Section 273.1313 the Saint Paul Riverfront Enterprise Zone Program (the
"Program") ; and
Wf�REAS, the investment, tax classification, and State tax credits as set
forth in detail in the August 27, 1990, Staff Report will result in the creation of
15 new positions i Saint Paul with the construction of a 30,000 square foot
office/manufacturi g facility located on the north side of Selby Avenue between Avon
and Grotto by Expo Graphics, Inc.
Wf�REAS, ther has been presented to and considered at this meeting a Par-
ticipation Agreeme t between the City and the Com�any whereby the Co�any cavenants
respecting the c letion of property improvements; an�d
WI�REA.S, the ity Clerk duly published on June 18, 1990, in the Saint Paul
Legal Ledger, the fficial newspaper for the City a notice o� public heari.ng before
the City Council u n the Company's Application; and
WI�REAS, Dist ict 8 Planning Council has reviewed and reco�runended approval of
the Application; d
WI�REAS, the ity Council conduct�d a public hearing on August 21, 1990, upon
the Application at which hearing opportunity was pravided for the Applicant, the
County Assessor, r presentatives of affected taxing authorities and any taxpayer of
the City or member of the public to present their views orally or in writing at or
before the hearin , and having duly con�idered the testimony and written views
presented at the aring and the Application, staff report and draft Participation
Agreement; naw th refore, be it
RE90LVID by Council of the City of Saint Faul that it hereby determines
that•the Applicat' n of Expo Graphics, Inc., the property inprovements, retained and
new jobs and tax nefits proposed meet the objectives of the Saint Paul Riverfront
Enterprise Zone P ogram.
ORIGINAL � � �r�-"��
RESOLVED FUR� that the City Courycil additionally finds ar�cl determines that
the construction of e new facility (1) is reasonably likely to create new employ-
ment in the City; ( ) will not have the effect of transferring existing employment
frwn one or more oth r cities within Minnesota; (3) will result in an increase in
market value of the loyment property of $895,900 which is .00013$ of the market
value of all taxable property in Saint Paul; and (4) should not result in the reduc-
tion of the assessed value of existing property within the City c�med by Applicant.
RESOLVID FURTI� that the Application and employment property reclassification
thereby proposed is ereby approved and the City Clerk is directed to transnit the
Application together with a oertif ied copy of this resolution to the Ccaunissioner of
Trade and Econo�nic velopt�ent for consideration an�3 final approval.
RESOLVID FURTI� that the Participation Agreement between the City and the Alr-
plicant is hereby a roved, and the proper City officers are authorized to sign the
sams on behalf of t City, and upon its signature by the Applicant to transmit At-
tachment C of said reement to the Cwnmissioner of Trade and Economic Developnent
for signature by th Camnissioner or designee upon f inal approval of the Applica-
tion.
a Navs Absent Requested by Department of:
imon ��
osw,� z --,.
�� �
a e�
et ma �. `
un e B : �,�y'�� d
i son Y
O
Adopted by Council: D te
SEP 2 � �99� Form Approved by City Attorney
Adoption Certified by ouncil Secretary gy: l/ ;, �
�� , =
By' Approved by Mayar for Submission to
Approved b Mayor: D te �Fp � � 1q90 Council
,
By; ..�- ��/-
By:
�i:l� S t'r' ti ;j 19�0
�yo -����
DEPARTMENT/OFFICE/COUNCIL DATE INITIATED N� _1110 6
Port authority 8/2�/90 GREEN SHEE
CONTACT PERSON&PHONE INITIAUDATE INITIAUDATE
�DEPARTMENT DIRECTOR �CITY COUNCIL
John A. Cam obasso ASSIGN �CITYATTORNEY m CITYCLERK
NUMBER FOR
MUST BE ON COUNCIL AGENDA BY(DATE) ROUTING �BUDGET DIRECTOR �FIN.&MCiT.SERVICES DIR.
Final approval - Sept. 2 , 1990 ORDER �MAYOR(ORASSISTANT) � ('��n�.�� R
TOTAL#OF SIGNATURE PAGES (CLIP AlL LOCATIONS FOR SIGNATURE)
ACTION REQUESTED:
Approval of City Council Resolution for classification of proeprty located in the Riverfront
Enterprise Zone as Class 4d Employment property.
Executi on of Parti ci pati n Agreement wi th Expo Graphi cs, Inc. (/So w�r��� �ht��+' .ttjqar
RECOMMENDA710NS:Approve(A)or ReJect(R) PERSONAL SERVICE CONTRACTS MUST ANSWE THE FOLLOWING QUESTIONS:
_PLANNING COMMISSION _CIVIL S VICE COMMISSION 1• Has this personlfirm ever worked under e contract or this department?
_CIB COMMITfEE _ YES NO
2. Has this person/firm ever been a city empioyee?
_STAFF
— YES NO
_ DIS7RICT COURT — 3. Does this person/firm possess a skill not normally ssessed by any current city emPloyee?
SUPPORTS WHICH COUNCIL OBJECTIVE? YES NO
Economi c Devel opment Explain ali yes answers on separate sheet and a ach to green sheet
INITIATINO PROBLEM,ISSUE,OPPORTUNITY(W o,What,When,Where,Why):
Enterprise Zone credits ill be used to assist in the constructio of a 25,000 square foot
printing facility for E po Graphics, Inc. on Selby Avenue between Avon and Grotto in
St. Paul .
I
ADVANTAQE3IFAPPROVED:
The project will bring ax exempt properties onto the tax rolls a well as create 75
full-time equivalent jo s within two years for the City of Saint aul
J
i
DISADVANTAGES IFAPPROVED:
�
None . i
DISADVANTAOES IF NOTAPPROVED:
The company may not be able to proceed with the construction of heir new facility and
the firm would not cre te new jobs in St. Paul .
RECEIVED ouncil Research Center_
$EP121�0 SEP 101994
._...
CITY CLERK
TOTAL AMOUNT OF TRANSACTION S 895�9OO COST/REVENUE BUDGETE (CIRCLE ONE) YES NO
FUNDING SOURCE State T x Credi ts ACTIVITY NUMBER
FINANCIAL INFORMATION:(EXPLAIN) ��
NOTE: COMPLETE DIRECTIONS ARE INCLUDED IN THE GREEN SHEET INSTRUCTIONAL ,
MANUAL.AVAILABLE IN THE PURCHAStNG OFFICE(PHONE NO. 298-4225).
ROUTING ORDER:
Below are correct routings for the five most frequent types of documents:
CONTRACTS(assumes suthorized budget exists) � COUNCIL RESOLUTION (Amend Budgets/Accept. Grants)
1. Outside Agency 1. Department Director
2. Department Director 2. City Attorney
3. City Attorney 3. Budget Director
4. Mayor(for contracts over$15,000) 4. Mayor/Assistant
5. Human Rights(fo�contracts over$50,OQ0) 5. City Council
6. Finance and Managerr�ent Services Director 6. Chief Accountant, Finance and Management Services
7. Finance Accountipg
ADMINISTRATIVE ORDERS(Budget Revision) COUNCIL RESOLUTION(all others, and Ordinances)
1. Activity Manager 1. Department Director
2. Department Accountant 2. Ciry Attorney
3. Department Director 3. Mayor Assistant
4. Budget Director 4. City Council
5. City Clerk
6. Chief Accountant, Finance and Management Services
ADMINISTRATIVE ORDERS(all others)
1. Department Director
2. Ciry Attorney
3. Finance and Management Services Director
4. City Clerk
TOTAL NUMBER OF SIGNATURE PAGES
Indicate the#of pages on which signatures are required and paperclip or flag
each of these pages.
ACTION RE�UESTED
Describe what the projecUrequest seeks to accomplish in either chronologi-
cal order or order of importance,whichever is most appropriate for the
issue. Do not write complete sentences. Begin each item in your list with
a verb.
RECOMMENDATIONS
Complete if the issue in question has been presented before any body,public
or private.
SUPPORTS WHICH COUNCIL OBJECTIVE?
Indicate which Council objective(s)your projecUrequest supports by listing
the key word(s) (HOUSING, RECREATION, NEIGHBORHOODS, ECONOMIC DEVELOPMENT,
BUDGET,SEWER SEPARATION). (SEE COMPLETE LIST IN INSTRUCTIONAL MANUAL.)
PERSONAL SERVICE CONTRACTS:
This information will be used to determine the city's liability for workers compensation claims,taxes and proper civil service hiring rules.
INITIATING PROBLEM, ISSUE,OPPORTUNITY
Explain the situation or conditions that created a need for your project
or request.
ADVANTAGES IF APPROVED
Indicate whether this is simply an annual budget procedure required by law/
charter or whether there are specific ways in which the City of Saint Paul
and its citizens will benefit from this project/action.
DISADVANTAGES IF APPROVED
What negative effects or major changes to existing or past processes might
this project/request produce if it is passed(e.g.,traffic delays, noise,
tax increases or assessments)?To Whpm?When?For haw Ipng? . -
, ; . ..
DISADVANTAGES IF NOT APPROVED
What will be the negative consequences if the promised aptiorl is not._t`:
approved? Ina6ility to deliver service?Continued high traffic, noise, '
accident rate?Loss of revenue?
FINANCIAL IMPACT
Although you must tailor the information you provide here to the issue you
are addressing, in general you must answer two questions: How much is it
going to cost?Who is going to pay?
� R ���-/���
aiy,HIIllil! . CITY OF SAINT PAUL
aD1� Il1Ii:
OFFICE OF THE CITY COUNCIL
CITY HALL-7th FLOOR-SAINT PAU3.,MINNESOTA 55102
612-298-5506
TOM DIMOND
COUNCILMEMBER
Members•
Tom Dimqnd, Chair
Paula Maccabee
Dave Thune
Date: September 12, 1990
COMMITTEE REPO T
HOUSING AND ECO OMIC DEVELOPMENT COMMITTEE
l. Approval of the Minutes of the August 29, 1990, Housing and Economic
Development Committee meeting.
COMMITTEE PPROVED, 3-0
2. Resolution 90-1409 - Adopting the St. Paul Housing Pblicy for the I990s as
part of th Comprehensive Plan (Referred from Council 8-14-90) .
COMMITTEE ECOMMENDED APPROVAL, 4-0
3. Authorizat on to acquire and transfer HUD/VA repossessed property to local
non-profit development group: Parcel 253 Banfil , West Seventh District 9
(Referred rom HRA 9-11-90) .
COMMITTEE ECOMMENDED APPROVAL, 4-0 (HRA)
4. Resolutio approving a second supplemental indentur� of trust for the
District eating revenue bonds and authorizing the xecution and delivery of
the suppl mental indenture (Referred from HRA 8-28-90) .
COMMITTEE RECOMMENDED APPROVAL, 4-0 (HRA)
� 5. Expo Grap ics - Enterprise Zone Credits�'��.
� COMMITTEE RECOMMENDED APPROVAL, 3-0
6. Expo Gra hics - Boundary Changes.
COMMITTE RECOMMENDED APPROVAL, 3-0
Chair, Housing and Redevelopment Authority,
Commi tees: Public Works; Housing and Economic Development; Finance.
.��S
1009'o Recycleable
HOUSING AND ECONOMIC DEVELOPMENT COMMITTEE
COMMITTEE REPORT - SEPTEMBER 12, 1990
PAGE TWO
7. Sitma USA, Inc. - Enterprise Zone Credits.
COMMITTEE RECOMMENDED APPROVAL, 3-0
8. Resolution 90-1577 - Approving issuance of Port Authority taxable revenue
bonds in the amount of $680,000 to finance construction of an office/
production facility in the Empire Builder Industrial Park for Sitma, USA,
Inc.
COMMITTEE RECOMMENDED APPROVAL, 3-0
9. Downtown Tax Increment Financing.
COMMITTEE RECOMMENDED THIS ISSUE BE FORWARDED TO THE HRA, 3-0
chr
.
. G
ATTACHMENT C L�����/'�
F o� M I ESOTA DEPARTMENT OF TRME AND ECONOM 1 C OEYELOPI�ENT
Ep� C� 1 f I cat 1 an and App I f cat t aa f o� Ent�rp ri s� Zan� C rvd I t
PART I
ams us ness nnes a um r era um r
' Expo Graphics, �nc. 2667386 41-1644680
ross num r an s � ams an e ep ons num r person o con a a s us ness
if we have questlans about this form.
746 Selby Avenue Richard M. Mangram (612) 292-4950
y ae p e
St. Paul Minnesota 55104
esc r e expans on ac v y squars es sxpans an, nu r crea , nc roaue n pay ro , ncrease
in maricst value� caat of expa sian, dsscripttrn af buslness and naturs af (ts product). The company will
acqfire 39,000 s .ft. of 1 nd presently vacant or underutilized. They will .construct a 25,000
P�T i i (over)
Ent� Zrne Credits
. a es tax paT�purchases canstrvcttan mate rials or equipment......................... 1.
2. Intersst paid rn debt to ftna ce canstrvction of neM factltty.............................. 2. 501,000
3� a• Number of Morkers 9111p�O�l •�������������������������������������• 3a• 33
b. C rsd t t pe r roric�r (f ran I i ne 6 bs I ar)............................ b.
c. Muitiply the numbs r an I ne a by the amaunt rn Ilne b.......................:.......... 3c. 99,000
Border City Zrnea Only
�a. ��u be�-F wo�ers emplay ....................................... �.
b. C red i t pe r r o rlce r (f ran t n e 7 bs I ar)............................ b.
c. Nultiply the numbs r an I ne a by ths amount an line b.................................. 4c.
Tatal Crsdits $600,000
�� a sn srp rise ZOf1• C�+Bd� (add Iines �� Zi 3C and 4c)�����������������������r���������• s•
n erp r se ane ams an s ep cn� nun� r persan o con a M� av� ques ons a ou
tnis fo�m. John A. Campobasso (612) 224-5686
St. Paul , Minnesota Port Authority of the City of Saint Paul
ega escr p on prape y or r c c s c a .
Nininger & Donnelly's A dition to Holcombe's Addition to St. Paul , Lots 13 through 20,
Block 6.
6. Ftll in the credit amount o be alla+sd for each empl qe�.................................. b. $3.000
7. Bo rde r c t ty zcnes an�Y - F I 1 t n the c rsd i t amaunt to b� a 11 w�d f or each e�ap I qre�......... 7.
8. Chack the app rop rfata boc: ( 1 ne�► faci l ity ( I expanslan of existing faci l tty
A I s o f I I 1 t n tha amount of c red i t to Ds a I I wed f o r p rops rty tax payab l e I n 14 ......... 8.
9. Border cIty zanes anl (f � �oclsting facl I Ittes)
FTT"rf n� amount�c i t to b� a l I aMed f o r p rope rty tax paya b l e i n 19 .............. 9.
OCa cOrl r u Qt Aii�' i R dl • •1� n C11� u qls
Total local contributio is $553,663 omposed Baginntng Bsianos........ 2 195 850
of the fol 1 owi ng source . A 1 oan of �25od000 Offsring to Cc�pany......
from th HRA mo 'z d er 20 ears t . A R«nntntng Ba�anca........ ��
note �'rom t�ie �i�l� �or �and va� a **
1 he reby declare and ce rt fy that th� appltcatian Is trv� and corrsct to th� b�st af nry knailsdge and belief.
gna u re pp can , a �
e m n s ra or a e amm ss oner ra e an cona� c sve apmen a e
Ce rtificatian that applicant is locatsd in the
Enterp riss Zans and crsdits ars avallaDls.
. e e c a a e
F VII/10-1, 10-2, 10-3 Form EC-00060-01
INSTRUCTIONS
If you wish to claim the enterprise zone credit, you �ust complete Part 1 of
this form and have a representative of the enterprise zone city fill in Part 2
to show the amount of credit the city will allow. The representative and an
elected official must also certify that the information is correct by signing at
the bottom of the forcn.
Af ter the information has been certified by the city, it must be sent to the
Department of Trade and Economic Development for approval. Mail the form to:
Minnesota Department of Trade and Economic Development
Community Development Division
900 Ameriean Center Building
150 East Kellogg Boulevard
St. Paul, MN 55101
Af ter the form has been approved by the Department of Trade and Economic
Development, the Department will notify the Enterprise Zone City of approval.
Note: If you stop operations in the enterprise zone within two years after you
claim these credits, you will have to repay all or part of these credits.
This form should be filed with your county auditor if local property tax
reductions (4D property reclassification) or state paid property tax credits are
requested. If the city has allowed you a credit for property tax payable on
line 6 (or line 7 for border city zones), you must file this approved form with
your county auditor to receive credit on your property tax statement.
Contact 612/296-5005 for additional information.
F VII/10-4
* costs of $1,865,000. In addition, they will be investing in over $800,000
of equipment over the next five years. They expect to create over 75 new
jobs generating $201,366 of new payroll annually. Expo Graphics, Inc. is
a commercial printing and bindery operation specializing in the production
and binding of such materials as instructional manuals, business forms and
newsletters.
* amortized over 20 years at 2%. If these loans were at conventional rates of
11.57%, the company would pay an additional $415,163 in interest over the
life of the loan. Selby Commons will be providing a land sale note to the
company in the amount of $138,500. This note will be forgiven after ten
ten years and is considered a direct local contribution.
,
� C�9GL/�91�
�
8/27/90
3rAFF REFORT
RE: EXPO ICS� INC.
ENI'ERPRIS ZONE APPLICATION
�
A. PROPOSID N�Nr PROPERTY
Expo Grap ics, Inc. proposes that approximately 39,000 square feet or ap-
proximately . acres of land to be aa3uired on Selby betw�een Avon anc] Grotto
be detern�ined eligible for reclassification as emiployment property through the
City's Riverf ont F�terprise Zone Program. The property will not be forma7.ly
reclassified or tax purposes as an alternative contribution in the form of
conmdunity fin cing is being provided in lieu of local property tax reduction.
This property is identified by the Ramsey County Tax Department through the
follawing pro rty identif ication n�m�bers:
02-28-23-12-0112-0 02-28-23-12-0116-2
02-28-23-12-0113-3 D2-28-23-12-0117-5
02-28-23-12-0114-6 02-28-23-12-0118-8
02-28-23-12-0115-9 02-28-23-12�119-1
Three lo s are presently awned by the City and are tax exempt. The
project is c rrently outside of the Enterprise Zone boundaries; hawever, staff
is reco�uner�d ng that the bourr3aries be realigned to include this property.
B. PROPOSID USE
Expo Gr hics, Inc. is a comunercial printing and bindery operation
specializin in the production and binding of such mater�.als as instructional
manuals, bu iness forms and newsletters. The printing operation was fourx3ed
in the late 1950's, and the bindery was established in 197D. Both operations
w�ere divisi ns of Control Data Corporation until Septesnber of 1989 when they
vaere acquir by Richard M. Mangram and Neil C. Fleischhacker.
The y's bindery operation is located at 746 Selby Avenue. The
printing o ration is presently leasing space at 304 North Dale Street in the
former Cont ol data World Distribution Center. This project will allaw the
printing di ision to be relocated across the street from the bindery.
Expo G aphics, Inc. will acquire the land ar�d construct a 25,000 square
foot print'ng facility. The irivestment in the project including site as-
sembly, n construction arxl equipment will total approximately $2,765,000.
C. PRQ7 � INQ2EASID MARKET VALUE
The ma ket value of the site will increase signi�icantly as the property
is present y vacant or underutilized. The development will result in an es-
timated ma ket value of $895,900 which is .00013 of the market value of all
taxable pr perty in Saint Paul.
.
�f�9�
�
, ��
D. RETAII�D NEW JOBS
The y has 203 fu11-time equivalent employees in St. Paul; this in-
cludes approx mately 53 who will be retained based on the construction of the
new facility. In addition, the company estimates they will create 75 new
full-time equ'valent jobs within the next two years. The campany has entered
into a City Saint Paul Em�loyment and Training Participation Agreeqnent and
anticigates r cruiting froan the immediate neighborhood as is their present
practice.
E. DRAFT P ICIPATION.AGREII�IEi�I'
A draft articipation Aqree�nent has been negotiated with the following tax
benef its:
Annual 4-Year Total
State Ne Employee Credits 99,000
State De Financing Credits 501,000 501,000
This re esents a private�to-public ratio of appro�imately $3.86 private
per $1 publ' tax reduction or credit. It also represents one new job per
$8,000 of t x credits. The origi:nal City Council guidelines call fo-r an eight
to one publ'c to private investznent ratio and $10,000 per retained job or
$20,000 per ne�w job. Note that to date projects receivi�g credit achieved the
following: $12.77 of private investment for each $1 of public tax reduction
and credit; $1,596 per new or retained jobs.
F. QOUNCIL FIDIDI1�iGS
Expo Gr hics, Inc. 's application proposes to create up to 75 new jobs,
none of whi h w�auld be a transfer fran another Mi.nnesota minicipality. The
proposal wi 1 not result in the abandornient or demolition of other property
awned by th applicant in Saint Paul causing reduction of the assessed value
of existin property within the City.
G. I�ID�ATION
The st f of the Port Authority of the City of S�int Paul rec�uoerxis the
City Counc 1 approve the attached Participation Agreement for Expo Graphics,
Inc. as dr ted. Staff further recoanmerc]s the City Council determine that the
project is eligible for employment property reclassif ication and that Attach-
ment C of he Participation Agreement be forwarded to the Co�nmissioner of
Trade and onanic Development.
� ���7���
�-���
a � �� �
`� �; L�
�
i FAX(612)223-5198
� PORT AUTHORITY OF TH CIN OF SAINT PAUL TOLL FREE (800) 328-8417
� ~' 1900 LANDMARK TOW RS • 345 ST. PETER STREET • ST, PAUL, MN 55102-1661 • PHONE (612) 224-5686
August 27, 1990
Mr. Daniel rne}o, Director
Planning & E on�nic Developrent Department
City of 3t. aul
13th Floor C'ty Hall Annex
St. Paul, Mi esota 55102
SUSJECT: ERPRISE ZOI� C�tIDITS
GRAPHICS, INC.
Dear Mr. Co ejo:
We subRnit h rewith for your review and referral to the office of the
Mayor, City Council and City Attorney's Office details pertaining to the
issuance of Enterprise Zone Credits to Expo Graiphics, Inc. The credits
will be in e form of $600,000 in State incoarie tax credits made up of
$5U1,040 in debt financing credits ar�d up to $99,D00 in new employee
credits. alternative oontribution in the form of camnunity financing
is being pr vided in lieu of local property tax reduction.
Enterprise Zone credits will be used to assist in the construction of a
25,000 re foot printing facility locat�i on Selby Avent� between
Avon and G otto in St. Pat�l. The company will create 75 new full-time
equivalen� jobs within two years.
In add�tio to the staff report, we are attaching the Participation
Agreement a draft copy of the proposed City Council resolution which
authorizes the execution of the Participation Agreenent and the submit-
tal of the proposal to the Degartment of Trade arld E�conanic Development.
Your exped'tious haridling of this matter will be appreciated.
Yours truly,
�
J s llus
JJB:ca : esident
Attach.
cc. Mayor Scheibel
�c�a�'��9�
PARTICIPATION AGREffi�NT
RIVERFRONT ENTERPRISB ZONE
CITY OF SAINT PAUL
Prea�ble
1. Participating Bu iness: 2. Application Approval
Name Date
Address C.F. No.
St. Paul City Council
Employment Property Classification
Effective For Assessment
Years 19 thru 19
Employment Property Classification
Certification by Commissioner
Department of Revenue dated
(Attachment C)
3. (Persons)(Offic rs) Authorized to Sign for Participating Business:
Richard M. Man r
Name Name
President
Title Title
Signature Signature
4. Person Authori ed to Receive Communications for Participating Business:
Richard M. Man ram "
Name Is Authorized to Receive Communications
From the City or State on Behalf of
President the Participating Business.
Title
746 Selby Ave ue
St. Paul MN 55104
Address
612/292-4950
Telephone
, � � � ������
5. Description of P operty to Receive "Employment Property"
Classification ( se Description From Ramsey County Department Space for Use of
of Taxation, 126 City Hall and Cou.nty Courthouse): Ramsey County
Dept. of Taxation
PIN
Classification
Entered:
Date:
Ninin er & Don ell 's Addition to Holcombe's Addition to St. Paul
Lots 13 throu 20 Block 6.
(Use Reverse Side of This Page If Necessary)
6. Alternative Local Contribution: Yes X No
Description T e Cit will be rovidin three sources of funds: 1) $250,000
loan at 2� ov r 20 ears; (2) $58,600 note for art of land for 2% amortized
over 20 years and (3) $138,500 note to be for iven after ten ears.
7. Types of State Tax Reduction:
(a) Sales Tax xemption Amount
(b) Income Ta Credit
(1) Emplo ee Credit X Amount 99,000
(2) Debt ervice Credit X Amount 501,000
(c) State Pai Property Tax Credit Amount
The type and mount of exemption and credits shall be those as certified by the
Commissioner f Energy and Economic Development. If there is variance between
this section nd the Commissioner's Certification, the latter will control
(Attachment C .
Subject to c mpliance with this Agreement, to the provisions of Minnesota
Statutes 198 , Section 273.1312 to 273.1314 inclusive, and such regulations as
may be adopt d by the Department of Revenue or of Energy and Economic Development
(the "Act"), and upon filing proper tax returns and schedules, the participating
business is ligible for credits as appropriate against Minnesota income tax anc�
property tax liabilities for the tax years 19 90 through 19 93 .
���l���
8. COVENANTS BY PAR ICIPATING BUSINESS:
. In making applic tion for enterprise zone credits, the participating business
has represented and hereby covenants, for itself and its �uccessors or assigns,
(the "Participa ing Business"):
(a) that (it) ( X�h(e) will submit construction plans and evidence of financing
and will co mence, diligently pursue and timely complete improvements to the
property de cribed in Section 5 above in the dollar amount and as specified
in the "Pro erty Improvement Schedule" annexed hereto as Attachment "A".
Commencemen Date Fall of 1990
Completion ate Summer of 1991
Amount S 1 865,000
(b) that (it) Xx� will recruit, employ and train new' employees resident in
the econo c hardship area designated in the Riverfront Enterprise Zone
Program, o persons who are unemployed and economically disadvantaged or of
a protecte class in accordance with the provisions of the "EMPLOYMENT AND
TRAINING S HEDULE" annexed hereto as Attachment "B", and that the minimum
number of ew employees shall be as follows:
Number of ew Employees 75 Full-Time Equivalents
(c) that (it) x�) will maintain complete records reSpecting its performance
of the cov nants set forth in Section 8(a) and (b) herein, and permit access
to said records by accredited representatives of the Minnesota Commissioner
of Revenu , Ramsey County Tax Department and Saint Paul Port Authority; that
(it) ( Xx ) will report quarterly to the Division of Job Creation and
Training he number of hires covered by this Agreement; and that upon
request a d at least annually (it) (xxxbC�t) will report to the Saint Paul
Port Auth rity on forms provided by the Saint Paul Port Authority on
construct on completion, new hires and other direct or indirect economic
activity esulting from its facility operations in the Riverfront Enterprise
Zone.
(d) that (it) �Cxxx��C will promptly and satisfactorily perform each covenant
herein u ertaken and each other requirement of the Act, the Program or of
this Agreement imposed as a condition of the appro�al of the application for
and gran s of tax credits and designation of property classification.
9. REVOCATION
The Council ay revoke an alternative local contribution and may request the
Commissioner of Revenue to approve the revocation of a classification pursuant
to the Act i it finds and determines by resolution, after hearing upon notice
mailed to th applicant by certified mail at least 60 days before the hearing,
that
(a) The construction or improvement of the Participating Business' property and
operati g facility has not been completed within two years after the
approva of the classification, or any longer period as may be provided in
Section 8(a) hereof;
C��a�-��r�
(b) The Particip ting Business has not proceeded in good faith with the
construction or improvement of the facility, or with its operation, in a
' manner which is consistent with the purpose of the Act, the representations
of the application, or the covenants of this Agreement; or
(c) The Partici ating Business has misrepresented a material statement contained
in its appl cation for tax credit has failed to perform any express covenant
of this Agr ement or is not in continuing compliance with requirements or
conditions or approval or grant of an alternative local contribution, state
tax reducti ns or credits under the Act, the Program or this Agreement.
REVOCATION OF A ALTERNATIVE LOCAL CONTRIBUTION OR OF AN EMPLOYMENT PROPERTY
CLASSIFICATION HALL TERMINATE STATE TAX EXEMPTIONS, CREDITS AND REDUCTIONS.
The City Counci may impose or request imposition of a remedy other than
revocation, inc uding withholding of eligibility certifications for credits,
exemptions or r ductions, or institution of suit for specific performance or
other remedy in law or equity. No failure of the City to exercise or make
selection of a articular remedy for breach of this Agreement by the
Participating B siness shall be deemed a waiver of its rights to enforce
performance by the Participating Business of its obligations under the Act or
this Agreement by any remedy available to the City in law.
10. RECAPTURE
In the event t e Participating Business ceases to operate its facility in the
Riverfront Ent rprise Zone within two years after the expiration of tax
reductions und r the Act and this Agreement, the Participating Business
covenants and grees that it shall repay the amount of tax reductions and of the
local contribu ion pursuant to the following schedule:
Teraination of Operations Repaydent Portion
Less than 6 mo ths after expiration of tax reductions 100 percent
6 months 75 percent
12 months or ore, but less than 18 months 50 percent
18 months or ore, but less than 24 months 25 percent
The repayment shall be immediately due upon such cessation of operation of its
zone facility payable to the State of Minnesota to the extent it represents an
income tax cr dit or reduction and payable to the City to the extent it
represents a roperty tax reduction or other local contribution.
11. OTHER TERMS
C�9a'��9�
12. EFFECTIVE DATE
This Agreement as been accepted and executed on behalf of the Participating
Business by the officers whose titles and signatures appear in Section 3, above
The Application and Agreement have been approved by action of the Saint Paul
City Council as recited in Section 2 above, and is executed on behalf of the
City of Saint P ul by the officers whose titles and signatures appear below.
This Agreement hall be effective upon its execution in Section 2 above and its
delivery to the City of Saint Paul by the Minnesota Commi�sioner of Revenue or
his authorized esignee.
CITY OF SAINT P UL
gy Date
MAYOR
gy Date
CITY CLERK
gy Date
DIRECTOR DE ARTMENT OF FINANCE & MANAGEMENT SERVICES
Approved as to Form
Assistant City Attorney
� PR PERTY IMPROVEMENTS SCHEDULE C��l�-�1��
ATTACHMENT "A"
PARTICIPATION AGREEMENT
RIVERFRONT ENTERPRISE ZONE
� EXPO GRAPHICS, INC.
PARTICIPATING BUSINESS
A. Facility description
B. Construction Specifications(i entify every specification or drawing,title;date and approving architect or engineer)*
S ecifications wil be submitted P r A
(copies of each drawing or s ecification must be su pplied to the POl^t AUth01"1 ty�
C. Construction Cast Detail
�. Financing commitmenb(eq ity and mortgage financing)
Presentl r
* Preliminary plans may b submitted with the Application.Within 120 days of approval of this Application by the
Commissioner of Revenu ,final construction plans and specifications acceptable to the Ciry will be submitted.
EXPO GRAPHICS, I C.
PARTICIPATI G BUSINESS City of Saint Paul
ey By Mayor
eY BY City Clerk
. ��-��-/���
, CITY OF SAINT PAUL
FIRST SOU CE EMPLOYMENT PARTICIPATION AGREEMENT
Participating Employer: x o Gra hics, Inc.
Address: �46 Selby Aven e Z�p: 55104 phone: 612-292-4950
Authorized Contact Person: P a r i C 1 a A. C o 11 i n s
Estimated Number of New Jobs: 15
I. GENERAL
A. The City desires to increase employment opportunities for unemployed, economically disadvantaged City residents participating
in the comprehensive empl ment and training services provided through the Saint Paul Employment and Training Center.
B. Developer/Employer agrees o use the City as its primary source for recruitment, training, referral, and placement of new or
replacement employees in a ordance with the terms of this Agreement.
C. The Ciry's delegate agency ill be the Job Creation and Training (JG'� Section in the Department of Planning and Economic
Development, Saint Paul, M nnesota, or any other appropriate City agency as may be designated by the Mayor.
D. This Agreement becomes e ective upon the date hereof and shall continue for five years from the time Employer/Developer
occupies any developed fac lities unless otherwise specified as provided herein or until the job creation goals as described in
the Estimated Hiring Sched le (Attachment B) are fullfilled.
E. This Agreement shall be Iicable to all DevelopedEmployer new or replacement entry level pnsitions for which unemployed,
economically disadvantag persons might reasonably be available. This Agreement shall not appy to those jobs covered by
existing collective bargainin agreements or other Developer/Employer Agreements, where the terms of this Agreement would
cause DevelopedEmployer o breach the provisions of such agreements.
F. The DevelopeNEmployer s alt incorporate this agreement in each lease and sale agreement for space, if any, developed with
public assistance, pravided by or through the Ciry of Saint Paul in a manner in which the space so leased or sold and the
lessee or purchaser thereo shall bear a proportional share of the job placement to be accomplished under this agreement.
II. RECRUITMENT
A. The employment positions covered by this Agreement include all DevelopedEmployer job openings in the classifications, titles
and qualifications contain in Attachment B.
B. The DevelopeNEmployer ill notify Job Creation of its need for new employees in covered positions as soon as the
Developer/Employer decid to hire such employees or, if possib1e, fifteen (15) w�orking days prior to the expected hiring dates.
Notification will include th inbrmation in Attachment A.
C. The DevelopedEmployer ill pravide Job Creadion with its best estimate of the number and timing o( potential job openings
through use of the form p ided in Attachment B. .
D. The Developer/Employer ay notify Job Creation of any vacancies not covered by this AgreemeM. Although the
Oeveloper/Emplayer is obligated to hire employees from Job Creation referrals,.they must consider such individuals for hire
in good faith.
E. Job openings which are Iled by internal promotions from the DevelopedEmployer's existing vwrlc force are not covered by this
Agreement
III. REFERRAL
A. Job Creation will refer plicants according to the qualifications requested by DeveloperlEmplayer.
B. �f training for specific ' has been agreed upon between the Ciry and Developer/Employer in a separate agreement under
Section V, hereof, trai applicants will be considered qualified only when the training is successfully completed by applicant.
C. DevelopeNEmployer'r s the right to make all decisions on hiring new or additional emplayees, inciuding the qualifications
of applicants, but agr to hire for covered positions from among those persons referred by Job Creation who meet the job
descriptions and qual' tions or other persons certified as eligible.
D. The Job Creation and T ining Section will coordinate its referral and placement efforts with the Minnesota Job Service.
Referrals and place irom either organizadion will apply toward the total hiring gosl stated herein.
�� City d Saint Paul
_::_. Job Creation and Traininq Sedion
� � � � � ��-���
IV. PLACEMENT
A. When DevelopedEmploye notifies Job Creation of job openings in covered positions prior to fifteen (15) working days in
advance ot the proposed ate to hire, Job Creation will notify the Employer five (5) working days prior to the application
� submission date of the n mber of applicants Job Creation will refer.
B. If Job Creation cannot ref r the total number of qualified persons, the Job Creation and Training Section will notify the
Developer/Employer who ay fill the remaining positions by any means.
C. Job Creation will: a) provi e assistance and monitor job retention of empfoyees placed under this agreement for six months,
and b) monitor Develope Employer's performance under this Agreement. DevelopedEmployer will submit Quarterly Hiring
Summaries in the form a ched as Attachment C.
D. After the Developer/Empl yer has hired an applicant referred by Job Creation, Job Creadion will not be responsible for the
employee's conduct and he DevelopedEmployer releases the Ciry from any liability for the actions of such employees.
V. TRAINING
A. Job Creation and the D eloper/Employer may agree in a separate agreement to develop training programs including:
'OnThe�Job Training pr rams (OJ'n
'Wage subsidy progra s (Minnesota Employment and Economic Development Program (MEED)
'Customized Training P rams developed jointly between the Ciry, Employer/Developer, and area educational institutions.
B. Job Creation and Traini g will coordinate the provision of Enterprise Zone credits with the Saint Paul Port Authority and/or the
Minnesota Department f Energy and Economic Assistance, if appropriate, through the Quarterly Hiring Summaries.
C. The Developer/Employe agrees that it will not discontinue on-the-job training presently provided to its employees by reason of
the provision by JGT of on-the-job training under this or a separate agreement.
VI. CONTROLLING LA S AND AGREEMENTS
A. If this Agreement confli s with or requires DevelopedEmployer to breach an existing collective bargaining agreement or any
other existing agreeme ts, said agreements shall prevail.
B. Developer/Employer wil provide Job Creaiion with written evidence that Developer/Employer has provided the representative of
any collective bargaini unit with a copy of this Agreement and has requested comments from said unit. Developer/Emplayer
will provide such com ents to Job Creation.
C. The DevelopeNEmpl r will comply with any local, state, or federal law or regulation as they pertain to the Enterprize Zone
designation.
PARTICIPATING EMP YER: �
gy. Richard M. M ngram Date: 9-27-89
Title: President - EO
gy. Neil C. Fleischhacker � ' � Date: 9-2�-89
Title: Vice-Presid nt - COO
CITY OF SAINT
�Y� '"" � Date: ��jv��
D' r of Planning 8� E mjc D pment
Y � /z - -5� " /
B � Date:
Director Fnance a agement Servi �
ic--�-Y� .
APPROVED AS TO ORM:
, ✓ Date: � Z- " �` �
• l�ssista�tt y Attomey
� � � � �2�_/��(
Job # FIRST SOURCE ATTACHMENT A
� JOB ORDER FORM
SPETC: REFER THIS JOB THROUGH KATHY DAVIS ONLY
1. Employer 2.Date
Client Response Date(SPETC)
3. Job TiUe 4. Number of Openir�gs
5. Job Location
6. Starting Date 7. Start Salary$ per
8. Benefits 9. Days to be worked
10. Hours of work
11. Will union membership be req ired? Yes No Union/Local
12. Duties of position(may attach escription)
13. Necessary Qualifications
Skill Level(include licenses a d/or certificates necessary)
Education/Experience:
Specialized Training:
Miscellaneous:
14. Are your employees in this sition expected to provide any necessary tools in the job(s�?
Yes N (If yes,please attach an itemized list(with prices)of tools required for each position.)
15. Could a person with limited nglish speaking skills perform this job? Yes No
16. Is public transportation easil accessible? Yes No
17. Dces the job require shift w ric or other than traditional hours? Yes No
pf yes,Please clarity)
Retum To:Department of Planning 8 Economic Development
Job Creation and Training Section
25 West Fourth SVeet
Saint Paul,Minnesota 55102 �
ATTN:Kathryn Ter Horst ----=
� � ���o--/���
� ESTIMATED NIRING SCHEDULE AnAC"""�rrr e
City of Saint Paul
Department of Planning and Economic Devebpment
Job Creation and Training Section
EXPO GRA HICS, INC. 11-20-89
Employer Date
Transfer from F'uture
Job Other Immediate New Hires
Titles Locations
New Hires (No. 8� Date)
BINDERY COLLATO S 20 (10) 2/90 (10) 4/9
BINDERY HELPERS 5 0 , O
BINDERY OPERATO 1 � �
MATERIAL CONTRO
CL.ERK II 1 0 0
P�DTO DIRECT '
PLATEMAKER � 0 0 (1) 3/9 0
ST�2IPPER/PLATE R 0 0 (1) 5/90
CQ�Y CAMERA OP R p � �
S�IOR STRIPPE 0 0 0
S�ZOR COPY
CAi.�RA OPERATO p . � 0
SEWIOR PRODUCT ON
PL�NNER 0 - - p O
OF'g`5ET DUPLICA OR
OPffi�ATOR 0 0 (1) 6/90
S�OR OFFSET
DU�,ICATOR OPT � � (1) 6/90
_ SE�IOR WEB OFF. -. . � .
SE'�' PRESS OPTR 0 _ 0 (1) � 9/90 .
' ' . �v �'�W l�
ATTACHMENT C
QUARTERLY HIRING SUMMARY
For Ouarter Ending
Please list below the positions in r firm which are covered under the first Source Emplayrnent Participation Agreement with the City
of Saint Paul. Also list the number hires for each position and retum this (orm to the Job Creation and Training Secti<m within ten
(10) days. Additional information on ires may be attached as needed.
Title of Position Total Number of Ne+r� Hires
1. —
2. —
a —
4. —
5. —
6. —
7. —
8. —
I certity that the above informati is true and accurate.
Authorized Signature
Tdle
Participating Employer
Date
Please retum this form to:
Ciry of Sairri Paul
Department of Planning and nomic Development
Job Creation and Training ion
25 West FouRh Street
Saint Paul, Minnesota 55102
Attn: Kathy Korf
.; � . = — _
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A B C D E F G H I J K
1 �EXpo Gra hics,inc + � ' ` Appralsal � � ._
2 �Sources a Usw of Funds � ''—i—�� i � ��—*� �
3 ! � i : Const�uctlon Cost i �~ i r 1.025,000
.�.___:
� iSources I i = ' Land Value : 136,5�0
• --f--.�_._.__ -�----i----r•
5 • � � � Total � 1.161,500
6 1 :j Mortgage : �, ; 773.000�� : : ; �..__.�.�__
7 2�i2nd Mortpage _� __,�,�_250,000; �.._. Loan Value_��.i.._70Xi ot totsl� 813,050
. ___.�.�_ ' ..—..._ • _
8 3 E Z Credits _ i : � 550,OOOi i ' • '-�`��� �
��?_...._—.. _ .,� _.____....__._..._.�._.__.��..._...__..____.....�.a..._°..�—• ..—____�...
9 �]tHRA Land Note 68.600t_� i_,__._.. . _
10 , 5�4TCHDC-Lsnd Gra�t �77�9�0; __
12 —iTotal Sou►ces �_;��„1^709,500?.� � �? ___
13 »_ ._.._ �. —r
15 �.�_�._.._..�_�_�..._.._._.....�_i F i _.
16 �Uses � ' • � �
7 7 � :--_-- � _.
1S 1j�DU11a1ng Conatructlon � ! 7,o25,0OO; ! �_ ! _� h
79 2 ;Purchase HRA Land 58.600��`�
20 3 EPuYrchase Other Land }, 77,900�� R ���
21 � iConatrud Condo Gsrages 25,000���. � .
22 5 �Demolttlon � 75,000�_.� _�... �_F
--- ' ' .__ ; �:.
23 6 RelocaUon i � 150,OOOE E ' ' �
.
.
. •
.
_._. _..._.._..........._...._.�.....__—.._....._.. ___.._._._.�._�.___�_.._.._._.__.__.._..—�.._...._...__.._.___....__.._._._..__._...�..__....:,.— .�._..
21 7]iCspitalized Interest_.lst M Rga.ae __�_.�� �0.583i i ; j.�..._..: _--.,� ..__..�..^
.._...._._._.,.�_.__.__..� ._... ..s..�
25 81:Debt Service Reserve : i � 84.851� ; ; ��_.��.—T�..._....._�� : : _._..._
—_ 1— - —•�+—i•--r.w_.....__....�.�_.-..._.__. .---- —*�---?
26 9j+L�al 3 Underwrltung,,,.,�. • � : 61,150� • ; i r
9 ' '
•-- --..�_ . _._..y.�..._........_._._.._..._.._.�..�y._�.�� r._..____._._._._ , � i�....
27 10j:interim Interest-EZ Credits E 62,50__0'�*T ,__„_
28 11 ilnterim Interest-2nd MoR e ���5,OOOi �� _� �
30 12 ;Contin encies � ` ' � 23.91fiE ' � _� � ' ' _
i----i--:— a—«---:
31 Total Uses 1.709.500E �—� _._..__ ; .—��-.__.�--
32 _..._.__..._...._w._.�_�_— :-----.�.'' ,— i } � - —
33 :Debt Service-MonthlLr • �__;�__� '
31 +(1 st d 2nd Moetgsges Com .ined j�T� 6,391� _ ---�
35 °
. . ��a-/��
E�o Graphlcs. Inc.
Aasumptions to Sour s ac Uses of Funds
Sources
1) 1 st Morigage $773,00001 st Mortgage assumes bond issue or SBA
loan in this aggregate p�incipai amount. Rate is assumed
at 10.596 foced. Term is assumed at 360 manths..
� and Mortgage �250,000�d Mortgage assumes HRA loan in this
aggregate principal amount. Rate is assumed at 4.096
fixed. Term is assumed at 300 months.
3) E Z Credits $550,000 Enterprise Zone Tax Credit assumes approval
of credits in this aggre8ate principal amount. Port
Authorily offir,tials have confirmed the availabiliiy of these
credits.
4� HRA L.and Note $�8,600 HRA Land Note assumes (and purchase loan in
this a99regate principal amount. Term is assumes as
flexible,with initial payments deferred for a negotiated
period of time.
5)TCHDC-Land G t $77,900 TCHDC Land Grant expresses thm value of the
Isnd purchased by TCHDC and transferred to Expo
Graphics, Inc. Grant amount is based on approximately
22,257 square feet of land and a$3.50 per square foot
estimate of land value.
Uses
1) Building Constr+u "on $1,025,�00 Building Construction amount assumes a
25,000 square foot building constructed a►R a rate of$41.00
per square foot. This sum represents a turnkey buiiding
induding architectural fees, pennits,bonds and
landscaping.
2) Purchase HRA d $5$,fi00 Purchase HRA Land represents the sum for
which the HRA land is being acquired. This purchase is
offset by the corresponding HRA Land Note.
3) Purchase Other Land $77,900 Purchase Other Land represents the value
assigned to the land being acquired for Expo Graphics
by TCHDC. This purchase is offset by the corresponding
TCHDC Land Grant.
�
. � ��yo,����
4) Construd Condo araees $25,000 Construct Condo Garages represents the
cost fo�constructing a 4 caz garage to replace the
garages lost by the demolition of the existing Benjamin
Commons garages. This sum represents zt tumkey
Aarage projed including e�ctensive Iandscaping to restore
area disturbed by the Expo construction projed.
5) Demolitian $75,000 Demoli6on represents the costs associated with
the moving and removal af the follcwing buildings:
- move duplex - 7�oc Selby Ave
- demolish duplex - 75oc Selby Ave.
- demolish building - 7�oc Selby Ave.
This sum contemplates that the costs associated with the
foundation and any rehabilitadion of the duplex cuRently
located at 7�oc Selby Ave.will NOT be boume by Expo
Graphics, Inc. but 6y the group that develops the duplex
at its new location.
6) Relocation �15�,�OU Relocation represents the cost af reloc:ating the
residents and businesses fhat aze displaa�d by the Expa
Graphics praject.
'7) Capital¢ed Inter $40,583 Capitalized Interest represents tha interest due
on the first mortgage from its closing ( assume 09-01-90)
through the end of the construction period ( assume
02-28-91 ). Six months ot construction period lnterest at a
rate of 10.54% is assumed, notwithstanding an earlier ar
later construction start date.
8) Debt Senrice Re enre $84,851 Debt Service Reserve represents one year's
interest and principal on the 1 st Martgage which is held
- as an additional securiiy on revenue bond financings.
9) Lega! &Unde '"ng $61,150 Legat &Underwriting represents the fees '
charged by the attorneys and bond underwriters for the
placement and legal work on the 1st&2nd mortgages.
An additional$1U.�00 has been induded in this sum to
cover extra expenses retated to the land acquisition a�d
relacation process.
� � ���l���o
10) Interim Interest- GYedits $82,500 Interim Interest EZ Credits represents
fhe inferest due on a shorf temn losn to Expo Graphics to
aover expenditures until receipt of the Enterprise Zone
Credits. Assumes toilowing terms and condi�onr.
Loan amount:$��0,000
Term: 18 months
Rate: 1�.00%
Repayment: In full Interost&Principal upon roceipt of
Enterprise Zone Gedits. (Assumes �eceipt of credils
on ( 03-01-92)
Noto: In th� ov�nt tho Ent�rpris�Zono ar�dits oan bo
certified for tax 61ing in 1990.the term of thls loan would
be reduced by 12 months,thus reducing�e Interim
Inte�est-EZ Credits amount to$27,5Q0.
11) Construction Int rest-
�d Mo gage $�S,OQO Construction Interest-Znd Mo�tgage represents
the interest due on the 2nd Mortgage during the 6 month
construction period.Rate is assumed at 4.0096 to
carrespond with the rate of accrual on the 2nd Mo�tgage.
1� Contingenaes $11,666 ConGngencies represents an allocation of
proceeds for unexpected expense.
Deht Service-Mo thly $8,391 Debt Service-Monthly representa the sum of the
1 st and 2nd mo�t8age payments due (interest&
principal). Assumes the fol�owing terms and conditions:
1 st Mortgage:
an,o�nt:�rr�,000 .
Term: 360 months
F3ate: 1�.5%fixed
Payment:$7,071 per month
2nd Mortgage: •
Amount:$25�,�00
Temn: 300 months
Rate: 4.00%fixed
Payment:$1.320 per manth
Httactment B - Exhibit��� ����
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_ e<" ' s-�iNOTICE.OF PUBLIC,HEARINO OBZ.APPLiCATIO t ~ �`� �� 1
'� f ' FOR RECLASSIFICATION,OF PROPERI'Y��.�„",T,AX if�i,., '
-�E' PURPOSES tJNDER fiHE�,ENTERP Zp'",�"" T� � 5 s ;
�� - x o y3T}'�'t��L.m�"��`'�' t"'� .�''`��..;�+--+e, c �r � �? .,!jm�.�..�' I
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`Pursu�nt to.lVllnnesofa Statutes'1988 Sectton 469.�0 Subdlvis on �andf'to��"�
provislon o the Pro am For`Ci ' �'� -^� �� -;
�' ty of Saint Paul Riverfront�'sr�terpil`se Zune, ICE IS�:�i
�:'HEREBY G VEN THAT A PUBLIC HEARINC wlll be held,before,the Counefl fttie City ';
'of Sainf Pa ]in the Couiicil Chambers;tlilid tlooi City Ha]1,s15 Vf%'st Rellogg ulevaid,-%'�'
�,SaintPaul, InnesotaonThursday: he20thda `ofSe`�te' '`-` ` '�"`�: r�e°
�`as soon the eafter as the matter may be heaz ,v�on- e�1pp11catlori ofE ��r v
Inc.�746_ elby Auenue;:�airi�p�u� �lyinnes�ota�f'ar:�clasyillcationao� �ph��
`property_1 ted,in the'�:,S��aul Rlverf�E`n"�"��-� Coun
;Mtnnesota, semploymentpropert""'aiid'fo assess en of d ty
class 3b- 4perty.in, n sot�,;�tatut�988�ec"�q � a1 fo? �>
Para h' ..�-��1�,,, til i: s on 24 �
grap ,.b)for:tazes._e e,� .991 and, or four;�sugceeil1ng years ther er�� i
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�.'AT SAI PUBLIC HEARING the C1ty Coun�il wlll cons� er whether to a rove the �_j
said Appll aUon upon tlndings'as.required,by'Mlnnesota Statutes,�198 8ecfion �.
469.170 S dtvislon 2 At sald hearing the_�Applicant the=Ramsey;,County �r :;�
representa yes of aflected,taxing authorlUes and any tax�ayer of the mun�
representa ve oCany'�ommunity organlzaUon wtif have oppor�un� tobe h�'� �p��or _�
present the r vfews In wrlttng a�or before the Hea Vnp/Us under";�t�sia"�"" � "
thai�ealf� � ottKe�nt'ei�- -"'' -'�a-r ` ,�.� _� n . !b�..�.
e,�o. es
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p�ed P�r�icipati� m �t b��i��pp'
r Inapectett t;Ehe otilces"ofth���l�erk�r'th�Port Authori ot.Rhe`Ci
� �y ty of �aul,,�`
during no al business hours and i�it�en commenl.s''�``ma�i b�d�e�t s"' "��'�'
�Clty Clerk: oom�386 Clty',Hail 15 Wes'�Keltogg Bouleyard Sajnf'p�su�l �� �2 or.'
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ALBERT B OLSON�,City Cler�c��.,� p f , _,, ,
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