HomeMy WebLinkAbout1990 12-18 EDAP Regular Session EDA AGENDA
CITY OF BROOKLYN CENTER
DECEMBER 18, 1990
(following adjournment of City Council meeting)
1. Call to Order
2. Roll Call
3. Approval of Minutes:
a. October 29, 1990 - Special Session
4. Resolution:
a. Approving the Brooklyn Center Economic Development
Authority Budget for the Year 1991 Pursuant to MSA
Chapter 469.033, Subdivision 6 and MSA Chapter 469.107,
Subdivision 1
5. Discussion Items:
a. Establishing the Budget for Tenant Improvements to D
Barn and Authorizing the Taking of Quotes for Work
b. Terminating the Contract with EBF Management
6. Adjournment
MINUTES OF THE PROCEEDINGS OF THE ECONOMIC
DEVELOPMENT AUTHORITY OF THE CITY OF BROOKLYN
CENTER IN THE COUNTY OF HENNEPIN AND THE STATE
OF MINNESOTA
0 SPECIAL SESSION
OCTOBER 29, 1990
CITY HALL
CALL TO ORDER
The Brooklyn Center Economic Development Authority met in special session and
was called to order by President Dean Nyquist at 9 :16 p.m.
ROLL CALL
President Dean Nyquist, Commissioners Celia Scott, Todd Paulson, Jerry Pedlar,
and Philip Cohen. Also present were EDA Director Gerald Splinter, Director of
Public Works Sy Knapp, Finance Director Paul Holmlund, Director of Planning and
Inspection Ron Warren, City Attorney Charlie LeFevere, EDA Coordinator Brad
Hoffman, EDA Assistant Coordinator Tom Bublitz, and Administrative Aide Patti
Page.
RESOLUTIONS
The EDA Director presented a Resolution Accepting Quotations and Awarding
Contract for Demolition of 6730 Perry Avenue North.
RESOLUTION NO. 90 -12
Commissioner Celia Scott introduced the following resolution and moved its
adoption:
0 RESOLUTION ACCEPTING QUOTATIONS AND AWARDING CONTRACT FOR DEMOLITION OF 6730
PERRY AVENUE NORTH
The motion for the adoption of the foregoing resolution was duly seconded by
member Philip Cohen, and the motion passed unanimously.
DISCUSSION ITEM
REQUEST FOR PROPOSAL - COMMERCIAL /INDUSTRIAL MARKET STUDY
The EDA Director briefly reviewed the study areas contained within the RFP.
Commissioner Cohen inquired if the areas were in any type of priority order.
The EDA Director stated they were not in any specific order.
There was a motion by Commissioner Cohen and seconded by Commissioner Pedlar
approving the request for proposal for a commercial /industrial market study.
The motion passed unanimously.
ADJOURNMENT
There was a motion by Commissioner Cohen and seconded by Commissioner Paulson to
adjourn the meeting. The motion passed unanimously. The Brooklyn Center
Economic Development Authority adjourned at 9:20 p.m.
President
10/29/90 _1_
�v
(EEHRAB2)
Member introduced the following resolution and moved
its adoption:
EDA RESOLUTION NO.
RESOLUTION APPROVING THE BROOKLYN CENTER ECONOMIC DEVELOPMENT
AUTHORITY BUDGET FOR THE YEAR 1991 PURSUANT TO MSA CHAPTER
469.033, SUBDIVISION 6 AND MSA CHAPTER 469.107, SUBDIVISION 1
-------------------------------------------------------------
WHEREAS, the Brooklyn Center Economic Development Authority has
considered the attached budget and finds that this budget is necessary
g g Y
for the operation of the Brooklyn Center Economic Development Authority
Y P Y
during the year 1991:
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority for the City of Brooklyn Center that the attached budget of
the Economic Development Authority for said City is hereby approved.
BE IT FURTHER RESOLVED that a copy of this resolution, together
with the attached budget, be submitted to the City Council of the City
of Brooklyn Center.
-------------------- - - - - -- -------------------------------
Date President
The
motion for the adoption of the forgoing resolution was duly seconded
by member , and upon vote being taken thereon, the
following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
ECONOMIC DEVELOPMENT AUTHORITY
AND
HOUSING AND REDEVELOPMENT AUTHORITY
OF BROOKLYN CENTER, MINNESOTA
1991 BUDGET
CITY OF BROOKLYN CENTER
DEPARTMENT OF FINANCE
DDLBL
(EEHRACR)
Member introduced the following resolution and
moved its adoption:
RESOLUTION NO.
RESOLUTION APPROVING A TAX CAPACITY LEVY FOR THE PURPOSE OF DEFRAYING
THE COST OF OPERATION, PROVIDING INFORMATIONAL SERVICE, AND RELOCATION
ASSISTANCE PURSUANT TO THE PROVISIONS OF MSA 469.001 THROUGH 469.047,
OF THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF BROOKLYN CENTER
FOR THE YEAR 1991
-------------------------------------------------------------------------
WHEREAS, the City Council of the City of Brooklyn Center is the
governing body of the City of Brooklyn Center; and
WHEREAS, the City Council has received a resolution from the Housing and
and ment Redevelo " Resolution
Authority of the City of Brooklyn Center entitled a
Establishing Redevelopment Tax Lev for the Broo Center and Redevelopment
Y Y 9 P
Authority for the Year 1991 and
WHEREAS, the City Council, pursuant to the provisions of MSA 469.033,
Subdivision 6, must by resolution consent to the proposed tax levy of the
Housing nd Redevelopment Authority of the Ci of Brook Center.
g P Y Y Y
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that a special tax be levied upon all real and personal property
• within the City of Brooklyn Center at the rate of 0.0144% of taxable market value
of all taxable property, real and personal, situated within the corporate limits
of the City of Brooklyn Center, Minnesota and not exempted by the Constitution of
the State of Minnesota or the valid laws of the State of Minnesota.
BE IT FURTHER RESOLVED that the said property tax levy, to be used for
the operation of the Brooklyn Center Housing and Redevelopment Authority
pursuant to the provisions of MSA 469.001 through 469.047, be certified for
tax levy to the County Auditor of Hennepin County on or before December 28, 1990.
---------------------------- - - - - -- ------------------------------------
Date Mayor
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly seconded
by member , and upon vote being taken thereon, the following
voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
(EEHRATR)
Member introduced the following resolution and
moved its adoption:
HRA RESOLUTION NO.
RESOLUTION ESTABLISHING THE TAX LEVY FOR THE BROOKLYN CENTER
HOUSING AND REDEVELOPMENT AUTHORITY FOR THE YEAR 1991
------------------------------------------------------------
BE IT RESOLVED by the Housing and Redevelopment Authority of the
City of Brooklyn Center as follows:
Section 1: That there be and hereby is levied a property tax for
the Housing and Redevelopment Authority, for the year 1991, at the
rate of 0.0131% of taxable market value of all taxable property, real
and Personal, situated within the coroporate limits of the City of
Brooklyn Center, Minnesota and not exempted by the Constitution of the
State of Minnesota or the valid laws of the State of Minnesota, for
the purpose of establishing an H.R.A. Fund and conducting the operation
of a H.R.A. pursuant to the provisions of MSA 469.001 through 469.047.
Section 2: That there be and hereby s levied an additional property tax
for the Housing and Redevelopment Au 1 thority, for the year 1991, at the
rate of 0.0013% of taxable market value of all taxable property, real
and personal, situated within the corporate limits of the City of
Brooklyn Center, Minnesota and not exempted by the Constitution of the
State of Minnesota or the valid laws of the State of Minnesota, for
the purpose of defraying costs of providing informational service and
relocation assistance as authorized by MSA 469.033, Subdivision 6.
Section 3: That the consent resolution by the City Council of the
City of Brooklyn Center to this special tax for the operation of the
Housing and Redevelopment Authority be attached to this resolution
and made part of it.
Section 4: That said tax rate and levy be certified to the County
Auditor of Hennepin County on or before December 28, 1990.
Passed by the Housing and Redevelopment Authority of the City of
Brooklyn Center this 5th day of December, 1990.
----------------------------- - - - - -- ---------------------------------
Date Chairman
The motion for the adoption of the foregoing resolution p g g u ion was duly seco nded
by member , and upon vote being taken thereon, the following
voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
i
(EHRABDGT)
Member introduced the following resolution and moved
its adoption:
HRA RESOLUTION NO.
RESOLUTION APPROVING THE BROOKLYN CENTER HOUSING AND REDEVELOPMENT
AUTHORITY BUDGET FOR THE YEAR 1991 PURSUANT TO MSA CHAPTER
469.033, SUBDIVISION 6 AND MSA CHAPTER 469.107, SUBDIVISION 1
------------------------------------------------------------------
WHEREAS, the Brooklyn Center Housing and Redevelopment Authority
has considered the attached budget and finds that this budget is necessary
for the operation of the Brooklyn Center Housing and Redevelopment Authorit
during the year 1991:
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority for the City of Brooklyn Center that the attached budget of
the Economic Development Authority for said City is hereby approved.
BE IT FURTHER RESOLVED that a copy of this resolution, together
with the attached budget, be submitted to the City Council of the City
of Brooklyn Center.
Passed by the Housing and Redevelopment Authority of the City
of Brooklyn Center this 5th day of December, 1990.
-------------------- - - - - -- -------------------------------
Date President
The motion for the adoption of the forgoing resolution was duly seconded
by member , and upon vote being taken thereon, the
following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
•
(EHRABUD)
HOUSING AND REDEVELOPMENT AUTHORITY OF THE
CITY OF BROOKLYN CENTER, MINNESOTA
ANNUAL OPERATING BUDGET
1991
PROPOSED
SUMMARY OF ESTIMATED REVENUES, APPROPRIATIONS AND
CHANGES IN FUND BALANCE
-------------------------------------------------
ESTIMATED ESTIMATED
1990 1991
--- - - - - -- --- - - - - --
ESTIMATED REVENUE:
--------------- --
General Property Taxes $111,987 $114,000
Homestead Credits 16,363 16,000
TOTAL ESTIMATED REVENUE $128,350 $130,000
---- - - - - -- ---- - - - - --
---------- ---- - - - - --
s
APPROPRIATIONS:
Transfer to Economic Development Authority $128,350 $130
TOTAL APPROPRIATIONS $128,350 $130
FUND BALANCE - January 1, 0 0
FUND BALANCE - December 31, $0 $0
(EEHRAB2)
Member introduced the following resolution and moved
its adoption:
EDA RESOLUTION NO.
RESOLUTION APPROVING THE BROOKLYN CENTER ECONOMIC DEVELOPMENT
AUTHORITY BUDGET FOR THE YEAR 1991 PURSUANT TO MSA CHAPTER
469.033 SUBDIVISION 6 AND MSA CHAPTER 469.107, SUBDIVISION 1
-------------------------------------------------------------
WHEREAS, the Brooklyn Center Economic Development Authority has
considered the attached budget and finds that this budget is necessary
for the operation of the Brooklyn Center Economic Development Authority
during the year 1991:
NOW, THEREFORE, BE IT RESOLVED by the Economic Development
Authority for the City of Brooklyn Center that the attached budget of
the Economic Development Authority for said City is hereby approved.
BE IT FURTHER RESOLVED that a copy of this resolution, together
with the attached budget, be submitted to the City Council of the City
of Brooklyn Center.
Passed by the Economic Development Authority of the City of
Brooklyn Center this 5th day of December, 1990.
-------------------- - - - - -- -------------------------------
Date President
The motion for the adoption of the forgoing resolution was duly seconded
by member , and upon vote being taken thereon, the
following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
(EDAPROG)
• ECONOMIC DEVELOPMENT AUTHORITY OF THE
CITY OF BROOKLYN CENTER, MINNESOTA
ANNUAL OPERATING BUDGET
AUTHORIZED PROGRAMS
---- - - - - -- -- - - - - --
-------------------------------------------------------------------
FUND
NUMBER DIVISION DESCRIPTION
NUMBER PROGRAM
NUMBER
- - - - -- - - - - -- - - - - -- ------------------------------------------
22 E.D.A. SPECIAL OPERATING FUND
86 E.D.A. Administration
901 E.D.A. Administration
902 Housing Study
10 Rehabilitation Grants & Loans
904 County Projects Administration
01 -99 C.D.B.G. Rehab Grants
11 Scattered Site Redevelopment
101 -199 Property Acquisitions
• 12 Commercial Industrial Study
903 Commercial Industrial Study
13 Rental to Owner Conversions
201 -299 Property Conversions
23 EARLE BROWN HERITAGE CENTER
88 Earle Brown Heritage Center
911 E.B.H.C. Operations (Reimbursements)
912 E.B.H.C. Operations (Direct Payment)
913 E.B.H.C. Capital Outlay
915 Inn on the Farm
916 Office Rentals
917 Convention Center
918 E.B.H.C. Administration
919 E.B.H.C. Maintenance
24 EARLE BROWN TAX INCREMENT DISTRICT
87 Earle Brown Farm
920 E.B.F. Administration
921 E.B.F. Bonds of 1991
933 E.B.F. Restoration
934 E.B.F. Management Startup
• 935 E.B.F. Bed & Breakfast
• (E DABAL )
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
SPECIAL OPERATING FUND
BALANCE SHEET
December 31, 1990 and 1989
1990 1989
ASSETS
Cash and investments $ 694,896 $ 631,627
Taxes receivable delinquent 1,564 1,564
Due from other funds: C.D.B.G. 50,000 90,381
TOTAL ASSETS $ 746,460 $ 723,572
LIABILITES AND FUND BALANCE
• Current Liabilities:
Due to other governments: county $0 $6,800
Deferred revenue 1,564 1,564
Total Liabilities $ 1,564 $ 8,364
- - - - -- --- - - - - --
Fund Balance:
Unappropriated $ 744,896 $ 715,208
--- - - - - -- --- - - - - --
Total Fund Balance $ 744,896 $ 715,208
--- - - - - -- --- - - - - --
TOTAL LIABILITIES AND FUND BALANCE $ 746,460 $ 723,572
. (EDABUD)
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
SPECIAL OPERATING FUND
1991 PROPOSED BUDGET
1988 1989 Estimated Estimated
Actual Actual 1990 1991
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
REVENUES
MISCELLANEOUS REVENUE
Interest $39,893 $51,428 $57,000 $52,000
Land Sales 18,000 40,000
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
Total Miscellaneous Revenue 39,893 51,428 75,000 92,000
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
OTHER SOURCES OF FUNDS
TRANSFERS FROM OTHER FUNDS:
Housing & Redevelopment Author 75,492 78,501 128,350 130,000
Community Development Block Grants
Housing & Redev Year XIII 110,190
Housing & Redev Year XIV 169,285
Housing & Redev Year XV 131,916
Housing & Redev Year XVI 195,000
Special Assess Debt Service Fund - -- 78,000
--- - - - - -- --- - - - - -- --- - - - - --
Total Other Sources 185,682 247,786 260,266 403,000
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
TOTAL REVENUE & OTHER SOURCES $225,575 $299,214 $335,266 $495,000
EXPENDITURES
Administration $17,808 $67,532 $108,781 $162,765
Rehabilitation Grants & Loans 101,669 106,662 131,916 88,000
Scattered Site Redevelopment 22,383 64,881 70,000
Commercial Industrial Study 30,000
Rental to Owner Conversions 60,000
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
TOTAL EXPENDITURES $119,477 $196,577 $305,578 $410,765
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
Fund Balance, January 1 506,473 612,571 715,208 744,896
- - -- -- - - - - -- - - - - - -- - -- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
Fund Balance, December 31 $612,571 $715,208 $744,896 $829,131
(EDABUDI) ECONOMIC DEVELOPMENT AUTHORITY OF THE
CITY OF BROOKLYN CENTER, MINNESOTA
1991 PROPOSED BUDGET
APPROPRIATIONS: I. ADMINISTRATION
------------------------------------------------------------------------------
1990 1991
OBJECT 1988 1989 1990 ESTI- RECOM-
NO. OBJECT ACTUAL ACTUAL ADOPTED MATED MENDED
- - - -- ------------------- - - - - -- - - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4100 Salaries of Employees 38,616 38,616 40,000
4130 Wages of Part -time Empl 10,000
4142 PERA 1,730 1,730 2,240
4144 FICA 2,900 2,900 3,825
4151 Health Insurance 1,733 1,733 3,000
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
0 0 44,979 44,979 59,065
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4210 Office Supplies 114 439 0 230 100
4220 General Supplies 346 200 30 100
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
SUPPLIES TOTAL 114 785 200 260 200
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4310 Professional Services 47 2,332 40,000 15,000 5,000
4312 Legal S ervices 0 2,703 15,000 7,000 5,000
4310 Housing Study CDBG 43,531 5
PROFESSIONAL SERVICES TOTAL 47 48,566 55,000 27,000 10,000
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4334 Use of Personal Auto 0 0 200 100 100
4350 Printing 45 0 500 500 500
4351 Legal Notice Publication 2,000 100 500
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
TRANSPORT ATION TOTAL 45 0 2,700 700 1,100
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4397 LOGIS Charges 918 997 2,000 1,400 2,000
4411 Conference & Schools 548 481 2,000 1 2,000
4413 Dues & Subscriptions 419 25,300 25,300 25,300
4417 Books and Pamphlets 45 300 300 300
4422 Administrative Services 6,238 5,004 5,298 5,298 28,700
Contingency 34,100
MISCELLANEOUS TOTAL 8,168 6,482 34,898 33,298 92,400
- - - - -- ------ - - - - -- - - - - -- - - - - --
OPERATING BUDGET SUB -TOTAL 8,374 55,833 137,777 106,237 162,765
- - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4551 Office Furniture & Equip 5,699 662 2,650 2,544 0
4553 Mobile Equipment 0 11,037 0 0 0
4560 Construction Contract 3,735 0 0 0 0
II'II i - - - - -- - - - - -- - - - - -- - - - - -- - - - - --
CAPITAL OUTLAY TOTAL 9,434 11,699 2,650 2,544 0
TOTAL BUD GET $17,808 $67,532 $140,427 $108,781 $162,765
1 0 (EDABUD2)
ECONOMIC DEVELOPMENT AUTHORITY
OF BROOKLYN CENTER
1990 PROPOSED BUDGET
APPROPRIATIONS: II. REHABILITATION GRANTS
-----------------------------------------------------------------------
1990 1991
OBJECT
1989 1990 ESTI- RECOM-
NO. OBJECT ACTUAL ADOPTED MATED MENDED
- - - -- ------------------ - - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4100 Salaries, Regular Employees $2,018 $2,000 $2,000 $2,000
- - - - -- - - - - -- - - - - -- - - - - --
PERSONAL SERVICES TOTAL 2,018 2,000 2,000 2,000
- - - - -- - - - - -- - - - - -- - - - - --
4310 Professional Services 8,200 12,600 9,600 6,000
4312 Legal Services 0
- - - - -- - - - - -- - - - - -- - - - - --
PROFESSIONAL SERVICES TOTAL 8,200 12,600 9,600 6,000
- - - - -- - - - - -- - - - - -- - - - - --
4351 Legal Notice Publication 0 0 0 0
- - - - -- - - - - -- - - - - -- - - - - --
PRINTING TOTAL - - - - - 0 - - - - - 0 - - - - - 0 - - - - - 0
4382 Other Equipment Repair 0 7,900 0 0
4383 Buildings Repair 91,440 144,000 115,018 80,000
- - - - - -- - - - - - -- - - - - - -- - - - - - --
REPAIR & MAINTENANCE TOTAL 91,440 151,900 115,018 80,000
- - - - - -- - - - - - -- - - - - - -- - - - - - --
4411 Conferences & Schools 0 102 0 0
4414 Licenses, Taxes & Fees 0 100 0 0
4422 Administrative Services 5,004 5,298 5,298 0
- - - - -- - - - - -- - - - - -- - - - - --
MISCELLANEOUS TOTAL 5,004 5,500 5,298 0
- - - - -- - - - - -- - - - - -- - - - - --
TOTAL BUDGET $106,662 $172,000 $131,916 $88,000
------- - - - - - -- - - - - - -- - - - - - --
(EDABUD3)
ECONOMIC DEVELOPMENT AUTHORITY
OF BROOKLYN CENTER
1990 PROPOSED BUDGET
APPROPRIATIONS: III. SCATTERED SITE REDEVELOPMENT
-----------------------------------------------------------------------
1990 1991
OBJECT 1989 1990 ESTI- RECOM-
NO. OBJECT ACTUAL ADOPTED MATED MENDED
- - - -- ------------------ - - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4310 Professional Services 0 0 2,000 2,000
4312 Legal Services 0
- - - - -- - - - - -- - - - - -- - - - - --
PROFESSIONAL SERVICES TOTAL 0 0 2,000 2,000
- - - - -- - - - - -- - - - - -- - - - - --
4414 Licenses, Taxes & Fees 1,900 0 0 4,000
- - - - -- - - - - -- - - - - -- - - - - --
MISCELLANEOUS TOTAL 1,900 0 0 4,000
- - - - -- - - - - -- - - - - -- - - - - --
4510 Land 20,483 62,881 64,000
- - - - -- - - - - -- - - - - -- - - - - --
CAPITAL OUTLAY TOTAL 20,483 0 62,881 64,000
- - - - -- - - - - -- - - - - -- - - - - --
TOTAL BUDGET $22,383 $0 $64,881 $70,000
- - - - - -- - - - - - -- - - - - - -- - - - - - --
------- - - - - - -- - - - - - -- - - - - - --
(EDABUD4)
ECONOMIC DEVELOPMENT AUTHORITY
OF BROOKLYN CENTER
1990 PROPOSED BUDGET
APPROPRIATIONS: IV. COMMERCIAL INDUSTRIAL STUDY
-----------------------------------------------------------------------
1990 1991
OBJECT 1989 1990 ESTI- RECOM-
NO. OBJECT ACTUAL ADOPTED MATED MENDED
----- ------------------------ ------ ------ ------ - - - - --
4310 Professional Services 0 0 0 30,000
4312 Legal Services 0
------ ------ ------ - - - - --
PROFESSIONAL SERVICES TOTAL 0 0 0 30,000
------ ------ ------ - - - - --
TOTAL BUDGET $0 $0 $0 $30,000
•
( EDABUDS )
ECONOMIC DEVELOPMENT AUTHORITY
OF BROOKLYN CENTER
1990 PROPOSED BUDGET
APPROPRIATIONS: V. RENTAL TO OWNER CONVERSIONS
-----------------------------------------------------------------------
1990 1991
OBJECT 1989 1990 ESTI- RECOM-
NO. OBJECT ACTUAL ADOPTED MATED MENDED
- - - -- ------------------ - - - - -- - - - - -- - - - - -- - - - - -- - - - - --
4310 Professional Services 0 0 0 60,000
- - - - -- - - - - -- - - - - -- - - - - --
PROFESSIONAL SERVICES TOTAL 0 0 0 60,000
- - - - -- - - - - -- - - - - -- - - - - --
TOTAL BUDGET $0 $0 $0 $60,000
------- - - - - - -- - - - - - -- - - - - - --
(EBFBAL)
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
EARLE BROWN FARM T.I.F. DISTRICT
BALANCE SHEET
December 31, 1990 and 1989
1990 1989
ASSETS
Cash and investments $ 0 $ 907,337
Accounts receivable 0 8,181
TOTAL ASSETS $ 0 $ 915,518
------------ ---- - - - - -- ---- - - - - --
LIABILITES AND FUND BALANCE
---------------------------
Current Liabilities:
Vouchers payable $ 0 $ 43,384
Accounts payable 0 147,933
Construction loans 6,650,574 2,677,671
Advances from other funds 698,143 700,282
--- - - - - -- --- - - - - --
Total Liabilities 7,348,717 3,569,270
--- - - - - -- --- - - - - --
Fund Balance:
Unappropriated (7,348,717) (2,653,752)
Total Fund Balance (7,348,717) (2,653,752)
--- - - - - -- --- - - - - --
TOTAL LIABILITIES AND FUND BALANCE $ 0 $ 915,518
(EBFBUD)
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
EARLE BROWN FARM T.I.F. DISTRICT
• 1991 PROPOSED BUDGET
1988 1989 Estimated Estimated
Actual Actual 1990 1991
REVENUES --- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
GENERAL PROPERTY TAXES
Tax Increments $927,802 $925,071 $972,700 $1,066,000
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
Total Property Taxes 927,802 925,071 972,700 1,066,000
- - - - -- --- - - - - -- --- - - - - -- --- - - - - --
MISCELLANEOUS REVENUE
Interest 166,405 146,300
Contract For Deed Interest 32,488 32,725
Rent, Refunds and Misc 6,383
--- - - - - -- - - - - -- --- - - - - -- --- - - - - --
Total Miscellaneous Revenue 198,893 185,408 0 0
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
OTHER SOURCES OF FUNDS
Transfers from CDBG Fund 200,000 20,000
Sale of Bonds 6,000,000
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
Total Other Sources 200,000 20,000 0 6,000,000
--- - - - - -- --- - - - - -- --- - - - - -- --- - - - - --
TOTAL REVENUE & OTHER SOURCES $1,326,695 $1,130,479 $972,700 $7,066,000
- - - - - -- --- - - - - -- -- - - - - -- -- - - - - --
• EXPENDIURES
General Administration $50,950 $69,506
Operation & Maintenance 6,015 2,039
Commons Water System 1,501
Phase III Streetscape 155,017
Jim Ryan Agreement 275
Earle Brown Commons 4,751
E.B.F. Restoration 301,507 4,705,071 $4,437,065
E.B.F. Management Startup 104,635 433,758
E.B.F. Bed & Breakfast 4,845
S.C.P. Street Improvements 522,050
Internal Borrowing Interest 9 373,000 $100,000
Property Taxes 66,000 20,000
Tennant Improvements 175,000
Total Expenditures 1,146,701 5,225,127 4,876,065 295,000
- - - - -- --- - - - - -- --- - - - - -- --- - - - - --
OTHER FINANCIAL USES
Transfer to Debt Service 85 Fund 431,710 420,000 430,000 475,000
Transfer to Debt Service 91 Fund 400,000
Transfer to EB Heritage Center 361,600 85,700
Transfer to Special Assess Fund 2,139
Transfer to M.S.A. Fund 593,069
- - - - -- --- - - - - -- --- - - - - -- --- - - - - --
Total Other Financial Uses 1,026,918 420,000 791,600 960,700
TOTAL EXPENDITURES & OTHER USES $2,173,619 $5,645,127 $5,667,665 $1,255,700
(EBHCBUD)
ECONOMIC DEVELOPMENT AUTHORITY OF BROOKLYN CENTER
EARLE BROWN HERITAGE CENTER
1991 PROPOSED BUDGET
Estimated Estimated
1990 1991
REVENUES --- - - - - -- --- - - - - --
OPERATING REVENUE
Office rent $63,000 $124,000
Bed & Breakfast Rentals 53,000 110,000
Convention Rentals 193,000 330,000
Banquet Fees 30,000 66,000
Miscellaneous 11,000 44,000
--- - - - - -- --- - - - - --
Total Operating Revenue 350,000 674,000
--- - - - - -- --- - - - - --
OTHER SOURCES OF FUNDS
TRANSFERS FROM OTHER FUNDS:
Earle Brown T.I.F. District 361,600 85,700
--- - - - - -- --- - - - - --
Total Other Sources 361,600 85,700
TOTAL REVENUE & OTHER SOURCES 711,600 759,700
- - - - - -- --- - - - - -- --- - - - - --
•
EXPENDITURES
Salaries & Wages 270,000
Fringe Benefits 48,000
Supplies 55,400 35,000
Professional Services 232,200
Communications 22,500 25,900
Printing & Promotional 138,800 75,000
Insurance 16,600 17,400
Utilities 92,500 65,000
Contractual Services 48,200 55,700
Cost of Sales - Food 6,300 8,000
Management Fee 99,100 106,000
Real Estate Taxes 25,000
Administrative Services 28,700
TOTAL EXPENDITURES &',OTHER USES $711,600 $759,700
- - -__ - ----- ___=
i
(EEHRAPS) ECONOMIC DEVELOPMENT AUTHORITY OF THE
CITY OF BROOKLYN CENTER, MINNESOTA
ANNUAL OPERATING BUDGET
DETAIL OF ADMINISTRATIVE SERVICES
---------------------------------
---------------------------------------------------------------------------
COMPLEMENT 1989 1990 1991
------- - - - - -- ADOPTED ADOPTED RECOMMENDED
POSITION AUTH REQ ANNUAL ANNUAL ANNUAL
------------------- - - - - -- - - - -- - - - -- -- - - - - -- -- - - - - -- -- - - - - --
EDA and Purchasing
Coordinator 0.75 0.75 $34,776.00 $36,841.00 $37,656.00
Asst. Finance Director 0.12 0.12 5,460.00 5,611.00
Staff Accountant 0.25 0.25 8,460.00
- - - -- - - - -- --- - - - - -- --- - - - - -- --- - - - - --
Total Full -time #4100 1.12 1.12 40,236.00 42,452.00 46,116.00
- - - -- - - - -- --- - - - - -- --- - - - - -- --- - - - - --
PERA #4142 1,710.03 1 2,066.00
Social Security #4144 3,021.72 3,188.15 3,527.87
Hospitalization #4151 2,210.00 2,580.00 2,880.00
Life Insurance #4152 10.00 10.00 10.00
6,951.75 7,679.99 8,483.87
--- - - - - -- --- - - - - -- --- - - - - --
Office Rent 1,050.00 1,050.00 1,050.00
Equipment Rent 1 1,800.00 1,800.00
--- - - - - -- --- - - - - -- --- - - - - --
TOTAL ADMINISTRATIVE SERVICES $50,037.75 $52,981.99 $57,449.87
Admin Services Distribution
---------------------------
EDA Administration - Unallocated Program 901 - 50% $5,298.20 $28,724.94
Grant Administration - Rehab Grants Program 904 - 0% 5,298.20 0.00
Earle Brown Farm - Administration Program 920 - 50% 42,385.60 28,724.94
--- - - - - -- --- - - - - --
$52,981.99 $57,449.87
--- - - - - -- --- - - - - --
--------- --- - - - - --
(JHRA37)
CITY OF BROOKLYN CENTER
ECONOMIC DEVELOPMENT AUTHORITY
DEBT SERVICE - BONDS OF 1983
RESUME OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
1988 1989 Estimated Projected
Actual Actual 1990 1991
ESTIMATED REVENUE:
Tax Increments $162,496 $146,524 $130,243 $132,000
Homestead Credits 20,700 18,994
Interest 33,996 42,672 48,000 50,000
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
TOTAL REVENUE 217,192 208,190 178,243 182,000
- - - - -- -- - - - - -- -- - - - - -- -- - - - - --
EXPENDITURES
Principal 60,000 75,000 75,000 75,000
Interest 67,963 63,163 57,688 52,025
Fiscal Agent Charges 987 515 750 775
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
TOTAL EXPENDITURES 128,950 138,678 133,438 127,800
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
Fund Balance January 1 474,271 562,513 632,025 676,830
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
Fund Balance December 31 $562,513 $632,025 $676,830 $731,030
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
-------- -- - - - - -- -- - - - - -- -- - - - - --
Bonds Outstanding - Dec 31 $870,000 $735,000 $660,000 $585,000
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
-------- -- - - - - -- -- - - - - -- -- - - - - --
Callable Feb 1, 1992:
Principal $585,000
Interest 24,569
Fiscal Agent Charges 1,000
PAYOFF AMOUNT $610,569
(JHRA38)
ECONOMIC DEVELOPMENT AUTHORITY OF THE
CITY OF BROOKLYN CENTER, MINNESOTA
DEBT SERVICE - BONDS OF 1985
RESUME OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
1988 1989 Estimated Projected
ACTUAL ACTUAL 1990 1991
ESTIMATED REVENUE
MISCELLANEOUS REVENUE
Interest $22,822 $25,859 $26,000 $26,000
Total Miscellaneous Revenue 22,822 25,859 26,000 26,000
- - - - -- -- - - - - -- -- - - - - -- -- - - - - --
TRANSFERS FROM OTHER FUNDS
E.D.A. Fund Transfers 431,710 420,000 430,000 475,000
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
Total Transfers 431,710 420,000 430,000 475,000
-- - - - - -- --- - - - - -- -- - - - - -- -- - - - - --
TOTAL REVENUE $454,532 $445,859 $456,000 $501,000
-------- -- - - - - -- -- - - - - -- -- - - - - --
EXPENDITURES
Principal $0 $0 $50,000 $60,000
Interest 410,725 410,725 409,150 405,625
Fiscal Agent Charges 474 542 887 900
- - - - -- -- - - - - -- -- - - - - -- -- - - - - --
TOTAL EXPENDITURES $411,199 $411,267 $460,037 $466,525
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
Fund Balance January 1 390,689 434,022 468,614 464,577
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
Fund Balance December 31 $434,022 $468,614 $464,577 $499,052
-- - - - - -- -- - - - - -- -- - - - - -- -- - - - - --
T
CITY OF BROOKLYN CENTER Council Meeting Date 12/18/90
Agenda Item Number
REQUEST FOR COUNCIL CONSIDERATION
ITEM DESCRIPTION:
RESOLUTION ESTABLISHING THE EARLE BROWN FARM D BARN TENANT IMPROVEMENT PROJECT
AND ACCEPTING A BUDGET FOR THE PROJECT
DEPT. APPROVAL:
EDA Coordinator
Signature - title
S REVIEW/RECOMMENDATION: ��
MANAGER
.
No comments to supplement this Nr s Comments below /attached
SUMMARY EXPLANATION: (supplemental sheets attached _)
Tuesday evening the EDA will consider the merit of a lease for the "D" Barn from David C. Bell
Mortgage Co. The term of the lease is five ears with y t a gross revenue of $246,954.92 over that
period of time. In addition to tenant improvements, the EDA is responsible for all costs (taxes, heat,
air conditioning, and so forth) except electricity.
As part of the tenant improvements, Bell Mortgage is asking for a vestibule to be built on the south
side (facing the mall area) of the "D" Barn. At Tuesday's meeting, I will have elevations of the
addition for EDA review and comment.
If the EDA elects to go ahead with this project, tenant improvements will cost approximately
$175,000. Given the fact that the building is a shell, the budget includes plumbing, heating, air
conditioning, insulation, and other buildout costs. Also included are typical tenant improvements such
as carpeting, wall separations, wall treatments, bathrooms, and so forth. Attached is a budget for
the project. All items (subcontracts) are small enough that the EDA would get written quotations for
the work. (Note that the mechanical and electrical budget lines are made up of several quotable
components.) If you decide to proceed with this project, then I would recommend that you pass the
resolution establishing the project and this budget figure. In turn, I would obtain written quotations
for the work for EDA review and approval.
At a buildout and tenant improvement cost of $175,000 plus real estate taxes of $3.25 per foot
(estimate) and a heating /cooling cost of an estimated $4,000, the monthly cost to the EDA is
approximately $5,008. This assumes the entire cost of the buildout and tenant improvement is
amortized over the term of the lease at 9.5%. The tax paid will come back to the EDA in the form
of a tax increment. 1 you account for all costs on the operation side only, this project is a negative
$50,000 to $60,000. In other words, our total cost over the five -year term will be approximately
$300,000 to $312,000, compared to the lease value of $247,000. However, approximately $55,000 is
buildout, i.e. bringing the building to minimum standards in order to start tenant improvements.
Tenant improvements on a per square foot basis (gross square feet not leasable) is approximately
• $25.00. This is not an unusual amount in the industry today.
If you are comfortable with the concept that the property tax is not a true operational cost because
it comes back to the EDA in the form of tax increment, then this project will pay for itself over the
five -year period. During the next leasing period, the EDA would have additional tenant improvements
but should show a positive cash flow.
I would recommend that you approve the project and establish a budget of $175,000 to be funded
from the capital improvement fund as a loan to the EDA. Tuesday I will bring elevations of the
vestibule for your review and comment.
Commissioner introduced the following
resolution and moved its adoption:
EDA RESOLUTION NO.
RESOLUTION ESTABLISHING THE EARLE BROWN FARM D BARN
TENANT IMPROVEMENT PROJECT AND ACCEPTING A BUDGET FOR
THE PROJECT
WHEREAS, the Brooklyn Center Economic Development
Authority has received a proposed lease for the "D" Barn at the
Earle Brown Heritage Center; and
WHEREAS, it is in the long -term interest to the
preservation of the Heritage Center that the "D" Barn be
completed; and
WHEREAS, the Economic Development Authority has
established an estimated cost of $175,266 for the completion and
tenant improvements to the "D" Barn.
NOW, THEREFORE, BE IT RESOLVED by the Economic
Development Authority in and for the City of Brooklyn Center
that:
1. the EDA Secretary be directed to accept written
quotations from subcontractors for the completion of the
tenant improvements of the "D" Barn; and
2. the estimated costs for the "D" Barn tenant improvements
are established at $175,266; and
3. all costs for this project shall be allocated to the
Earle Brown Heritage Center; and
4. the Earle Brown Farm Tax Increment District shall
provide a loan of the necessary funds which will be
repaid along with 8% interest over the life of the
office lease.
Date President
The motion for the adoption of the foregoing resolution was duly
seconded by Commissioner , and upon vote being
taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
'
....... .... _________________________________________________________________
WATSON SCOTT CONSTRUCTION
_—___________ ------------
_____________________________
GENERAL CONDITIONS
PROJECT;D BARN BELL MORTGAGE :DATE *********
BID DATE:12-3-90 :TIME 33210
ESTIMATOR; GSW :ADDENDUM
________________________________________________________________________
� DESCRIPTION :QTY :U/LB:UNIT/MTL: LABOR :MATERIAL
� -------------------------------------------------------------------------
�
****** DO NOT USE OR DELETE THIS LINE ****: — : — : —
� 1 SUPERVISION : : : : 7500 :
2 LABOR CARPENTER
3 FIELD OFFICE & STORAGE
3.1 SANITATION : : : : : 170
4 SMALL TOOLS & ROUGH HDW. : : o : : 250
5 TRUCKING
G PUNCHLIST
7 SCAFFOLDING & ACCES. : : : : : 207
8 SITE PREP, FENCE, SIGN
9 WINTER CONDITIONS : : : : : 1500
9.1 TEMP HEAT CONCRETE
9.2 ENCLOSE MASONRY
9.3 TEMP HEAT MASONRY
9.4 TEMP OR PERMANENT HEAT
9.5 SNOW REMOVAL
9.6 MISC ENCLOSURES
9.7 MISC WINTER COSTS 250
10 FUEL FOR EQUIPMENT
11 REPAIR & MAINTENANCE
� 12 FIELD ENGINEERING
12.1 START & COMPLETION SURVEYS
13 ERRORS
14 TRAVEL & SUBSISTENCE
14.1 LEGAL EXPENSE
15 ELECTRICAL POWER 180
15.1 TEMP ELECTRIC 150
15.2 NSP CHARGES
15.3 MISC UTILITY CHARGES : : : : : 239
16 PHOTOS & XTRA PLANS
17 BUILDERS RISK INSURANCE
17.1 OWNERS PROCTIVE
� 17.2 SPECIAL INSURANCE
�
� 18 TELEPHONE
� 19 TESTING : : : : : 75
20 WATER SUPPLY, PUMPING
20.1 DEWATERING
20.2 WATER PERMIT
21 BUILDING PERMIT
21.1 SPECIAL PERMITS
21.2 PARKING FEES
22 FINAL CLEANUP 550
22.1 SITE CLEANUP—MASONRY DEBRIS
22.2 WINDOW WASHING
� 23 WATCHMAN SECURITY SYSTEM
� 23.1 TRAFFIC CONTROL
�
`
WATSON SCOTT CONSTRUCTION
------ _----- _------------
_____________________________
JOB RECAP
Project:D Barn Bell Mortgage :DATE *********
BID DATE;12-3-90 :TIME - 33210
ESTIMATOR;GSW :ADDENDUM
________________________________________________________________________
DESCRIPTION i QTY :U :LABOR:MATRL:SUB :TOT LAB :TOT MAT :TOT SUB
________________________________________________________________________
****** DO NOT USE OR DELETE THIS LINE
02100 SITE CLEARI:
02200 EARTHWORK : : : : : : : :[in Vest]
02300 PILING : : ; : : : x : 0
02400 SHORE & BRA:
02500 SITE DRAINAx
02550 SITE UTILIT:
02600 RDS WLKS PA:
02700 SITE IMPR %: : : : : : : : 0
� 02800 LAWNS PLANT: : : : : : : : 250
�
03100 CONC. FORMW:
03200 CONC REINF
03300 CIP CONC : : : : : : 0 : 0 :
03400 PRECAST CON:
03450 ARCH PRECAS:
03500 CEMENT DECK:
04100 MORTAR
04200 UNIT MASONR: : : ; : : 0 : 0 :[In Vest]
04300 STONE
05100 STRUCT META:
05200 METAL JOIST:
05300 METAL DECK :
05400 LITE 8UAGE :
05500 MISC METAL : : : : : : : : 375
06100 ROUGH CARP : 6215
06200 FINISH CARP: : : : c : : : 4200
06300 GLUE LAM WO:
06400 CUSTM WOODW: : : : : : : : 14500
07100 WATERPROOFJ:
07150 DAMPPROOFIN:
07200 BLDG INSUL : : : : : : : : 5280
07300 SHINGLES-TI: : : : : : : :[In Vest]
07400 PREFORM SID: : : : : : : : 0
07500 MEMBRANE RO: : : x : : : : 0
07600 SHEET METAL:
07700 WALL FLASHI:
07800 ROOF ACCES.:
07900 CAULK-SEALA: : : : : : : : 0
08100 METAL DRS-F: : : : x : : : 11594
08200 WOOD DOORS :
08300 SPECIAL DOO:
08500 METAL WINDOx
08600 WOOD WINDOW: : : : : : : :[In Vest3
08700 FINISH HDW 750
08800 WEATHERSTRI:
08850 GLASS GLAZI: : : : : : x : 629
08900 CURTAINWALL:
` �
08950 STOREFRONT . 0
09 100 LATH PLASTS::
09200 GYPSUM DRYW: . . . : 13433
09300 TILE WORK ! : 5879
09400 TERRAllO ,
0250 0 AC :OUS I C: WO: : 466
960 WOOD FLOOR I : : 3230
0 9650 0 C.AF` PET I NG : . 6089
09700 €",ESIL. FLOG: • 117
0980 SPECIAL COA :
09900 PAINTING 11621
09950 WALL COVERI:
10100 0 CHALK TACK :
10150 TOILET PART:
10250 FIRE EXT. . , 120
10400 ID DEVICES . : . , 75
10800 TOIL.BATH A: 500
14200 ELEVATORS
15000 MECHANICAL • u�761
16000 ELECTRICAL . , : 15485'
Vestibule : : . • : 18660
. .
• • ;
* ►� DO NOT USE OR DELETE THIS LINE;
JOB TOTAL f c_> - 0 154229
l b4.28. 65
148139.65
i
24 HOIST ENGINEERING
20 SAFETY & OSHA INSPECTIONS
+5.1 SAFETY INSPECTIONS ;
26 RENTED EQUIPMENT' . . 150
26.1 EQUIPMENT OVERHEAD
26.2 CONCRETE BETE PUMP
27 TOWER CRANE RENTAL. & OPER'AT I :
27.1 INSTALL_ &< REMOVE TOWER CRANE: : :
27.2 MATERIAL HOIST RENT & OPREAT:
27.3 INSTALL & REMOVE MATERIAL HO: ;
2B ARC:HITECTS & ENGIN. FEES
:9 DEMOLITION
30 UNDERPINNING . .
* DO NOT USE OR; DELETE THIS LINE
CHECK ITEMS : TOTAL GENERAL.. CONDITIONS 7500 : 3721
ADDENDA : DIRECT LABOR—D I REwC:T MATERI 0 0
COMPLETION TIME : TOTAL SUBCONTRACTORS . 154229
LI M DAMAGE=S ----------------------------------------------- _ -
CASH ALLOW : SUBTOTALS: 7500 : 157950
TEMP WALLS Y "L
RETAINED AMOUNT INSURANCE ON LABOR
DELAYS : TAX ON MATERIALS
OTHER: CONTRACTS : HEALTH & WELFARE
UNPAINTE=D PLASTER : WAGE= RAISE — EQUIP OVERHEAD
LEVEL FLOORS : TOTAL LABOR 7500 -
C:U'E' "E'IN G/f='A`fiC:HINaa ----------------------------------------------- •.J
EXPOSED C:ONC: : TOTAL COST . 165450
TOPPING PROFIT , 9816
SUBTOTAL: 175266 t
_ 3
Y;
-,:7_i
a
AN HISTORIC ESTORATION \.
INN • E.YHI BIT HALL-CONVENTION CENTER
ADDENDUM TO THE LEASE
This is an Addendum to the Bell Mortgage Lease for Suite 100 at
6235 Earle Brown Drive, Brooklyn Center, Minnesota, dated November 12,
1990.
SPECIAL CONDITIONS:
1. Tenant may place a satellite dish on the Heritage Center water
tower. The maximum size satellite dish is approximately 24" x
24 ". The satellite dish must be painted red to match the color
of the water tower.
2. Bell Mortgage has the Right of First Refusal to lease additional
space in the yet- to -be- constructed G Barn that is to be located
east of the D Barn.
3. Landlord grants to Tenant an Option to Renew the Lease for an
additional five (5) year term. Landlord also agrees to renew
this Lease under the same Terms and Conditions, except that of
the base.rent specified in Paragraph 5 of the Lease, provided
Tenant is not in default of any of the provisions in the Lease
and provided Tenant notifies Landlord in writing ninety (90)
days prior to the expiration of this Lease.
It is hereby agreed and understood that the base rent herein
defined is $13.50 per square foot and will be adjusted in
accordance with the Consumer Price Index (C.P.I.) for the
Minneapolis /St. Paul area. The base period is April 1, 1991.
In no event will the increase or decrease exceed six percent
(6 %) per year.
4. Landlord agrees not to lease space in the Heritage Center to
another mortgage company without the prior written consent of
Bell Mortgage, providing Bell Mortgage is not in default of
this Lease.
EBF MANAGEMENT COMPANY BELL MORTGAGE
i
BY �r���! g
6155 Earle Brown Drive, Brooklyn Center, MN 55430
(612) 569 -6300 FAX: (612) 569 -6320
LEASE
EBF Management Company $ Varies
(Owner /Landlord) (Lease Date) (Monthly Base Rent)
Bell Mortgage Suite 100 $ 4,500.00 11 PAID
(Tenant) (Umt(s)) (Security Deposit)
Earle Brown Heritage Cent 5 years $ 3932.29 El PAID
(Project) (Term) (First Month's Rent)
6 Earle B rown Drive February 1, 19 91$ ❑PAID
(Address) (Beginning) (Improvements)
Brooklyn Ce MN 554 January �1, 199
(City, State, Zip) (Ending) (Receipt By)
THIS LEASE is executed this day of 19 between
EBF Management Company with its principal place of business
at 6155 Earle Brown Drive, Brooklyn Ce MN 55430 (the "Landlord"), and
Bell Mortgage a (corporation) (partnership)
(proprietorship), organized under the laws of the State of Minnesota with its principal place of business at (the "Tenant').
3915 Highway 7 Minneapolis, MN 55410
1. DESCRIPTION: The landlord leases to the Tenant the following described place in the development known as the Earle Brown Heritage
Center, 3775 square feet (the "Premises') located in the D Barn ( the "Building'). The Building address is
6235 Earle Brow Drive, Brooklyn Center, MN 55430 with location
upon a portion of the parcel of land legally described as follows:
Tract D. RLS 1594
The Premises are delineated in red ink on the plans of the Building hereto and incorporated herein by reference as Exhibit "A ".
2. TERM: This lease will be for a term of —5 years and 0 months. Theterm shall commence upon February ,19 and will expire
upon January 31 , ion April 1, 1991 or 2 months after the
Payment of rent shall begin 94 �FACr4f=74?l7G RoA�2I444@x49 9Leip9[I➢4 jeRrWMIfg K *remises are ready for occupancy ifthe Premises are not ready for occupancy
at the commencement date of the Term. This term shall automatically renew, for alike term, at the expiration date of any renewal thereof, at Landlord's option, at an adjusted
rental rate of the then existing monthly rental rate plus an increase of one percent (1 %) per month of past occupancy, unless, at least ninety (90) days prior to said expiration,
Tenant shall notify Landlord, in writing, of his intention not to renew.
3. CONSTRUCTION WORK LETTER, CONDITION OF PREMISES, AND TENANT'S TRADE FIXTURES:
If the premises are unfinished at present, the parties hereto will finish them in accordance with the terms and provisions as set out in the "Work Letter" executed with this
lease and attached as Exhibit "B ". By occupying the Premises as a tenant, or to perform finishing work, Tenant shall have accepted the Premises, and acknowledged that the
Premises are in the condition required by Landlord's covenants, except as to incomplete or defective items of Landlord's work then specified in writing by Tenant.
4. OPERATION AND USE OF PREMISES:
a. The Tenant shall use the Premises for conducting only the following business:
Mortgage Comp and Related Activeties
b. Tenant's use of the Premises shall conform to all the Landlord's rules and regulations relating to the use of the Premises (see item 22.), and which may be amended by
Landlord from time to time. Outside storage on the premises of any type of equipment, property, or materials owned or used on the Premises by Tenant or its customers
and suppliers shall be permitted only with the prior written variance granted by the City of Brooklyn Center.
c. The Tenant shall not injure the Premises or be a nuisance to others; shall keep the Premises free from rubbish; shall storeall rubbish within the Premises, and arrange for
the regular pickup of rubbish and for janitorial service at its expense. The Tenant shall not obstruct in any way the sidewalk, areaways, parking lots, receiving docks or
common areas of the Building or Premises.
d. Tenant shall, at its expense, comply with all laws, governmental orders, regulations and rules relating to the use and condition of the Premises which are primarily
occasioned by the purpose for which it uses or proposes to use the Premises, including all such laws, governmental orders, regulations and rules which relate to
Tenant's improvements or betterments.
5. RENT: Tenant agrees to pay rent to the Landlord at its address above, or at such other address designated by Landlord in writing during the term of the following manner:
$12.50 psf year 1; $13,00 psf year 2; $13.50 psf yr
A fixed rent atthe annual rate of $14.00 psf year 4; $14.50 psf year 5. ($ ),
payable in advance in equal monthly installments of $ 3 9 3 2 . 2 9; $ 4 0 8 9. 5 8; $ 4 2 4 6. 8 8; $ 4 4 0 4 .17 F 4, 5 61.4 6
on the first day of each and every month at the commencement of this lease or date of occupation of premises. Failure on behalf of Tenant to make these rent payments will
result in Landlord's right to exercise legal remedies and shall subject Tenant to a Fitly Dollar ($50.00) per month Late Charge. If any legal action is begun Tenant is
responsible for legal fees and a Three Hundred Dollar ($300.00) Management Charge.
*Annual: $39,329.92 - year 1; $49,075.00 - year 2; $50,962.50 - year 3
$52,850.00 - year 4; $54,737.50 - year 5.
D
6. OPERATING EXPENSES AND UTILITIES:
a. In addition to base rent payable in Paragraph 5 hereof. Tenant or Landlord pays his share of operating expenses and utilities as follows:
Landlord Heat and Air Conditioning
Tenan Electricity and Lighting as metered including exterior and common areas
Landlo later
Landlord Sewer
Landlord Landscape Replacement
La Lawn Care Maintenance
Landlord Snow Removal
Land 1 or Paving and Parking Lot Repair
L andlor d Exterior Building Maintenance
Lan dlord Ar7E�s�ex�x?�s��;�'e�csFx
Cost of Contractors to implement said services
Land-lord Real Estate Taxes
Landlord Insurance (Fire and Liability)
Landlord Property Management
Land Any other expense deemed necessary to operate said building in a first -class manner.
b. Tenant will pay his pro rata share of expenses on a monthly basis along with the monthly rental payment. Said amount will be determined by estimating an annual budget
for said expenses. If actual expenses exceed the budget expense amount, Tenant will pay Landlord the difference within 15 days of receipt of such notification. If actual
expenses are less than budgeted expenses, Landlord will notify the Tenant of that and will credit the Tenant's budgeted expenses for the following year. At the request of
Tenant, these charges shall be verified by Landlord's Controller, and such verified figures shall be binding upon the parties. The proration ratio, which will also apply to
any future tenants in said building, is to be determined by the ratio of the square feet of said leased space to total amount of leasable square feet in said building.
c. For the purpose of calculating Tenant's proportionate share for a fractional calendar year, each day of Tenant's occupancy shall beregardedas I /365th ofafull year's
share, and Tenant shall be considered as in occupancy during the full period of the term of this lease falling within said fractional year.
d. Service Interruption: Landlord shall not be liable for damages for failure of heat, hot or cold water, air conditioning, sewer service, electric current, gas, or any other
service by reason of breakdown of plant, equipment or apparatus, shutdown of any thereof for necessary repairs or alterations, unavailability of fuel, water of any other
substance or utility, war, civil disturbance, strike, lockout, fire, flood, casualty, governmental regulations, or other conditions beyond Landlord's control; provided that
Landlord shall exert all reasonable effort to restore such services promptly, if within Landlord's control.
7. REPAIRS — ALTERATIONS:
a. Landlord shall keep the foundations, exterior walls and the roof of the Building in which the Premises are located in good repair, except that Landlord shall not be
required to make any repairs which become necessary by reason of any act, omission or negligence of Tenant, its agents, representative, contractors, employees,
customers and invitees.
b. Exceptas provided in Paragraph a. of this Article, Tenantshall keep the Premises and all heating, air conditioning, plumbing and electrical facilities and fixtures therein in
good condition and throughout the Term hereof. Tenant shall permit no waste to the leased Premises. If tenant does not commence repairs within ten (10) days after
written demand, or adequately complete such repairs within a reasonable time thereafter, Landlord may, in addition to any other remedy, make the repairs without liability
for any loss that may occur to Tenant's business, and it Landlord makes such repairs, Tenant shall pay as additional rent the cost thereof with interest at the legal rate from
the date of payment by Landlord until paid by Tenant. However, there shall be no obligation on the part of Tenant to comply with any laws which may require structural
alterations, or additions, unless made necessary by any act, work, use or omission by Tenant, and Tenant shall not, during any one 12 month period, make any alterations
to the Premises costing an aggregate in excess of three (3) months' fixed rent without first procuring the Landlord's written consent.
C. Tenant shall make no structural additions or alterations to the Building or Premises; nor install any equipment which defaces the Building interior or exterior, without the
written consent of the Landlord. No machinery or equipment shall be bolted or otherwise physically attached to the floors or walls of the Premises without the written
consent of Landlord, and Tenant shall pay for any repairs necessary as a result of removal of any such machinery or equipment.
8. SIGNS: The Tenammay not erect any exterior or interior window or door advertising media or window or door lettering or placecards without the written consent of Landlord.
Tenant shall not install any exterior decorations, without the consent of the Landlord. It Tenant shall install any sign or lettering in or around the Premises. Tenant must restore
the Premises to their original condition at the termination of the Lease.
9. LANDLORD'S ACCESS: Landlord may enter the leased Premises at all reasonable hours for the purpose of inspecting the same or of making repairs, additions or alterations
thereto or to the Building, or for the purpose of exhibiting the same to prospective tenants, purchasers or others.
10. INDEMNITY AND NON - LIABILITY:
a. Tenant agrees to indemnify Landlord against all claims, demands and expenses, including reasonable attorney's fees, arising from the conduct of the business
conducted by Tenant or from any default of Tenant in the performance of any covenant of this Lease, or from any act of Tenant, its agents, contractors, servants.
employees, sub - lessees, concessionaires or licensees, in or about the Premises, the sidewalks adjoining the same, the loading areas, and the common areas.
b. All property kept in the Premises shall be so kept at the sole risk of Tenant. Tenant will discharge any lien against the Premises provided that Tenant may contest such
lien, upon furnishing to Landlord indemnification for the discharge thereof, as Landlord may reasonably require.
c. Landlord shall not be liable to Tenant for any damage occasion by plumbing, electrical, gas, water, steam or other utility pipes, systems and facilities, or by the bursting,
stopping, leaking or running any tank, washstand, closet or waste or other pipes in or about the premises or the Building, unless directly resulting from facilities controlled
and maintained by Landlord and from Landlord's act or neglect after notice; nor for any damage arising from any acts or neglect of cc - tenants or other occupants of the
building or of adjacent property, or the public.
11. TENANT'S LIABILITY INSURANCE: Tenants shall maintain policies of insurance, at its expense, insuring Landlord and Tenant from all claims for injury to or death of any one
person in an amount of not less than $250.000 and for injury to or death of more than one person in any one accident to the limit of $500,000 and for damage to property in an
amount of not less than $100,000 made on behalf of any person related to the operation of Tenant's business in the Premises. Said Certificates of Insurance shall be
deposited with Landlord at the commencement of the Term and renewals thereof not less than thirty (30) days prior to the expiration of such coverage, and shall not contain,
in addition, an undertaking by the insurer to give Landlord not less than ten (10) days' written notice of any cancellation or change in scope or amount of coverage of such
policy. If Tenant fails to comply with such requiremenl, Landlord may obtain such insurance, and Tenant shall pay the Landlord the premium cost thereof as additional rent.
12. ASSIGN - SUBLET:
a. Tenant shall not assign or in any manner transfer this Lease or any interest therein, nor sublet the Premises or any part thereof, not permit occupancy by anyone with,
through, or under it, without the previous written consent of Landlord.
b. Neither this Lease nor any estate thereby created shall pass to any trustee or receiver in bankruptcy, or any assignee for the benefit of creditors, or by operation of law.
13. SURRENDER OF POSSESSION:
a. At the expiration of the tenancy created hereunder, Tenant shall surrender the Premises in good condition and repair, reasonable wear and tear and loss by fire or other
unavoidable casualties excepted. All partitions, wallcoverings, ceilings, sinks, plumbing, floorcovering, and other improvements shall become the property of Landlord at
the moment of completion of installation. Tenant shall retain ownership of all removable trade fixtures and machinery which shall be removed from the Premises by
Tenant at the end of the Term.
b. It the Tenant remams m possession of the Premises after the expiration of the tenancy without the execution of a new lease, it shall be occupying the Premises as a tenant
from month to month, at twice the fixed rent, subject to all other conditions of (his Lease insofar as the same are applicable to a month -to -month tenancy.
a Prior to the expiration of the tenancy Tenant shall remove all trade fixtures, machinery and equipment ("Tenant's Property placed in the Premises by Tenant, and repair
any damage occasioned by such removals at Tenant's expense; and in default thereof, Landlord may effect such removals and repairs, and Tenant shall pay Landlord the
cost thereof, with interest at the legal rate from the date of payment by Landlord, Tenant shall be liable for any loss or damage sustained by Landlord or succeeding tenant
resulting from Tenant's failure to surrender possession after such notice. Upon failure of Tenant to remove such Tenant's Property, all remaining Tenant's Property shall,
at Landlord's election, be deemed abandoned by Tenant.
�� ll
_ 14, DAMAGE BY FIRE OR OTHER CASUALTY - FIRE INSURANCE:
a. If the Premises are partially or totally destroyed and are partially or totally untenantable. it shall be repaired as speedily as possible at the expense of Landlord, unless
Landlord elects not to rebuild, as provided below, and the rent shall be abated until so repaired.
b. If the Premises are so damaged as to render more than 50.095 of the Premises untenantable, Landlord may, at its election, to be exercised by notice given to Tenant not
more than 75 days after the occurrence of the damage, terminate this Lease; but if Landlord does not elect, Landlord shall, as promptly as may be reasonable, restore any
such damage suffered in the Premises, but Landlord's obligation shall be limited to the basic building and exterior work as covered by "Description of Landlord's Work"
in the Work Letter attached hereto as Exhibit "B",
c. If such damage occurs and this Lease is not so terminated by the Landlord, this Lease shall remain in force. Landlord shall have no interest in the proceeds of any
insurance carried by Tenant on Tenant's interest in this Lease, and Tenant shall have no interest in the proceeds of any insurance carried by Landlord.
d. Landlord shall maintain in effect with a responsible insurance company policies of insurance covering the Premises providing protection (excluding excavation. footings
and toundationsl against all casualties included under standard insurance industry practices within the classification of "Fire and Extended Coverage ", each of such
casualties being hereinafter referred to as an' Insured casualty ".
e. Tenant shall maintain in effect with a responsible insurance company insurance covering Tenant's trade fixture, furniture, furnishings. and equipment providing
protection to the extent of not less than 80.0% of the replacement value of the same against the casualties specified in Paragraph d of this Article.
L Landlord and Tenant hereby grant to each other on behalf of any insurer providing fire and extended coverage to either of them covering the Premises, improvements
thereon, or contents thereof. a waiver of any right of subrogation any such insurer of one party may acquire against the other by virtue of payment of any loss under such
insurance, such waiver to be effective so long as each is empowered to grant such waiver under the terms of its insurance policy or policies involved without payment of
additional premiums. Such waiver shall stand mutually terminated as of the date either Landlord or Tenant ceases to be so empowered. Neither party shall have any
interest in the proceeds of insurance by the other part.
g. Without Landlord's consent, Tenant shall not do anything in or about the Premises which will in any way lend to increase insurance rates or inval any policy on the
Premises or the building. If Landlord shall consent to such use, Tenant agrees to pay as additional rental any increase in premiums for insurance against loss by fire or
extended coverage risks resulting from the business carried on in the Premises by Tenant.
15. RIGHT TO MORTGAGE: The Landlord has encumbered, and may in the future encumber, the Premises by mortgages, and each of any such underlying liens will be liens on
the Premises superior to or inferior to the rights of Tenant. The Tenant will be required to subordinate to said mortgages. Immediately on request, Tenant will execute and
deliver any certificates of superiority or subordination and other documents desirable to effect the purposes of this Paragraph. In the event Tenant fails to comply with the
foregoing requirements within five business days following Landlord's request, this shall constitute Tenant's appointment of Landlord as its attorney -in -fact to execute any
certificates of superiority or subordination and other documents desirable to effect the purpose of this Paragraph.
16, EMINENT DOMAIN: If any part of the Premises is taken by public authority under the power of eminent domain, then the term of this Lease shall cease on the part so taken
from the date the possession of that part is required for public purpose, and the rent shall be paid up to that day. All damages awarded for such taking shall belong to Landlord
for dimunition in value to this leasehold or to the lee of the Premises; provided however, that Landlord shall not be entitled to any portion of a separate award made to Tenant
for loss of business, depreciation to and cost of removal of stock and fixtures.
17. REMEDIES UPON DEFAULT:
a. In the event that a receiver shall be appointed to take over the business of Tenant, or in the event that Tenant shall make a general assignment for the benefit of creditors,
or the Tenant shall take or suffer any action under any insolvency or bankruptcy act, the same shall constitute a breach of this Lease by Tenant.
b. In the event of any breach of this Lease by Tenant, Landlord, besides other rights and remedies which it may have, shall have the immediate right of re -entry and may
remove all persons and property from the Premises. Such property may be moved and stored in a public warehouse or elsewhere at the cost of, and for the account of
Tenant. Should Landlord elect to re -enter or should it take possession pursuant to legal proceedings or any notice provided by law, Landlord may either terminate this
Lease or may from time to time, without terminating this Lease, relet said Premises, or any part thereof, for such term or terms (which may be for a term extending beyond
the term of this Lease), and at such rental and upon such other terms and conditions as Landlord, in its sole discretion, may deem advisable, with the right to alter or repair
the Premises upon such reletting. In such event, Tenant shall be immediately liable to pay to Landlord, in addition to any other amounts due hereunder:
1. The cost and expense of such reletting and such alterations or repairs, and any amount by which the rent reserved herein for the period of such retelling, but not
beyond the term hereof, exceeds the amount agreed to be paid as rent for such period; or
2. At the option of Landlortl, rents received by Landlord from such reefing shall be applied first to the repayment of indebtedness other than rent due hereunder;
second, to costs and expenses of reletting and alterations or repairs, and third, to the payment of rent due and unpaid hereunder, and the residue, deny, shall be held
by Landlord and applied in payment of future rent as the same may become due and payable. Tenant shall, in such event, pay any deficiency between the amount due
from Tenant to Landlord and the amount credited.
No such re -entry or taking possession by Landlord shall be construed as an election to terminate this Lease unless written notice of such intention is given, or unless
termination be decreed by a court of competent jurisdiction notwithstanding any such reletting without termination. Landlord may at any time thereafter elect to
terminate this Lease on account of such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy it may
have, Landlord may recover from Tenant all damages incurred by reason of such breach, including the cost of recovering the Premises, and including the worth at
the time of such termination of the excess, if any, of the amount of rent and charges equivalent to the rent reserved for the remainder of the term hereof, over the then
reasonable value of the Premises for the remainder of the Term, all of which amounts shall be immediately due and payable from Tenant.
3. In the event of any breach by Tenant, Landlord may, without notice, cure such breach at the expense of Tenant. If Landlord, by reason of such breach, elects to pay
any expense, including reasonable attorney's fees, in instituting proceedings to enforce Landlord's rights, the sums paid by Landlortl, with interest at the legal rate
from date of payment, shall be deemed additional rent hereunder.
18. GENERAL:
a. Whenever, under this Lease, provision is made for Tenant securing the consent of the Landlord, such consent shall be in writing, and shall not be unreasonably withheld
and the assignment of this Lease or subletting of the Premises shall remain unqualified.
b. The rights and remedies of the parties are not exclusive, but are cumulative and are in addition to every other remedy at law. No delay or omission of the right to exercise
any right by either party shall impair any such right, or shall be a waiver of any default. Any waivers of a covenant by either party shall not be waiver of a subsequent
breach of the same covenant The consent by either party to any act by the other party of a nature requiring consent shall not waive or consent to any subsequent similar
act.
c. Upon request of Landlord, Tenant agrees to execute a statementor statements in writing certifying that this Lease is valid and in force (or dthere have been modifications,
that the same is in full force and effect as modified, and stating the modifications), and the dates to which rent and other charges have been paid.
d. The headings of the several articles and sections are for convenience only, and do not limit or construe the contents of such articles and sections. All negotiations and
understandings between the parties are incorporated herein, and may be modified or altered only by agreement in writing between the parties.
e. Whenever a period of time is provided for Landlord to perform, it shall not be responsible for, and there shall be excluded from the computation of such period of time, any
delays due to strikes, riots, acts of God, shortages of labor or materials, national emergency, acts of a public enemy, governmental restrictions, laws or regulations, or any
other cause or causes, whether similar or dissimilar to those enumerated, beyond its reasonable control. This section shall not excuse Tenant from the prompt payment
of rent. additional rent, or any other payments required by the terms of this Lease.
f. The terms, conditions, covenants and agreements herein contained shall inure to the benefit of all shall bind the parties hereto, their respective personal representatives,
heirs, successors and assigns.
g. Tenant agrees to return the Premises peaceably and promptly upon expiration of the Term hereof, or at any previous termination in as good condition as the same is now
in or may hereafter be put in, ordinary wear and tear excepted. In the event suit is brought for the recovery of the Premises, or any sum due hereunder, or because of any
act which may arise out of possession of the Premises, Landlord shall be entitled to recovery of all costs incurred therein, including reasonable attorneys' fees.
19. NOTICES: Whenever, under this Lease, a provision is made for notice, such notice shall be in writing, and it shall be deemed sufficient notice and service if such notice is sent
by registered mail or certified mail, postage prepaid, to the last Post Office address of Tenant furnished to Landlord for such purpose, or to the Premises, and to Landlord, sent
by registered mail, postage prepaid, to Landlord at the address furnished for such purpose, or the place then fixed for the payment of rent. If Landlord or Tenant is more than
one person, notice need be sent to but one Tenant or Landlord, as the case may be.
Tenant's initial address for notice is
Bell Mortgage
3915 Highway 7
Minneapolis, MN 55410
Landlord's initial address for notice is Landlord's agent initial address for notice is:
EBF Management Company EBF Management Company
6155 Earle Brown Drive 6155 Earle Brown Drive
Brooklyn Center, MN 55430 Brooklyn Center, MN 55430
20. DEPOSIT: Tenant, concurrently with the execution of this lease, has deposited with Landlord the sum of Four Tho five h undred
a nd no/100 ----------- ----- ----------- - - - - -- Dollars ( $4-� 5 O O . O O ), the receipt of which is hereby
acknowledged by Landlord, which sum shall be retained by Landlord as security.
21. WAIVER OF SUBROGATION: Landlord and Tenant shall each, forthwith after the execution ofthis Lease, procure from and cause each ofthe insurers under all policies of
insurance, now or hereafter during the term hereof existing and purchased by either or both insuring or covering the demised Premises or any portion thereof and /or
Tenant's business or operations in the demised Premises, a waiver of all rights of subrogation which the insurer under said policies might otherwise, it at all, have as against
the other hereto, said waiver to be in writing and for the express benefit of the other; the foregoing including, the following being by way of specification and not by way of
limitation, all policies of fire, theft, public liability and workers' compensation purchased by Tenant and all policies of fire and public liability insurance, if any, purchased by
Landlord.
22. RULES AND REGULATIONS:
a. Disturbance. No noise, or conduct shall be permitted at any time which will disturb or annoy other Tenants.
b. Parking. The use of parking shall be subject to the reasonable Rules and Regulations as the Owner /Landlord may promulgate uniformly for all tenants. Tenant agrees
that it will not use or permit the use by its employees of the parking area for the overnight storage of automobiles or other vehicles, which would interfere with
maintenance, snow removal, traffic flow or emergency vehicles.
c. Fixture Movement. Tenant agrees thatany and all furniture, fixtures and goods will be moved bythe Tenant whenever such moving is necessary for purposes of building
repair and /or maintenance by Owner /Landlord.
d. Locks. Noadditional lockswill be placed on anyofthedoors in the building without Owner/ Landlord's priorwritten approval,and unless Owner/ Landlord receives an
access key to such locks.
e. These rules may be added to or amended from time -to -time by the Owner /Landlord for the benefit of all tenants, and such amendments will become effective
immediately upon notification.
IN WITNESS WHEREOF: Landlord has caused its name to be subscribed by, and Tenant has hereunder subscribed its name the day and year first above written.
LANDLORD: F F Man_a,gemerft C.omn
By
Its President
TENANT: Bell Mor
By
Its
DETACH AND RETA]UdWS STATEMENT
THE ATTACHED CHECK IS IN PAY ITEMS DESCRIBED BELOW.
BELL MORTGAGE IF NOT CORRECT PLEASE NOTIFY V LY. NO RECEIPT DESIRED.
DELUXE - FORM VTO -3 V -B ,
DATE DESCRIPTION AMOUNT DISTRIBUTIONS
ACCT. NO. AMOUNT
11 -19 -90 Deposit /1st month rent -Earle Brown Farm 4,500.00
EMPLOYEE
EARNINGS DEDUCTIONS
PERIOD AMOUNT TOTAL TOTAL
ENDING HOURS RATE EARNED AT OVERTIME WITHHOLDING STATE NET PAY
REGULAR RATE AND OTHER EARNINGS F.I.C.A. U.S. INC. TAX INCOME TAX DEDUCTIONS
V-S
Riversides Bank 6154
Mfmwwl. C.nl.r OIIid ,� 812 -897 -1000 '
B ELLMORTGAGE "�` ° "` s.
el oomi n0l °.. ux sws
SINCE 1880
17-127/910
November 19 9 90
PAY Four thousand five hundred and no/ 100 's--------------------- - - - - - 4,500.00
DOLLARS $
F
To EBF Management Compan
THE g P Y
ORDER
OF
. J
11 r-3 L 5411' ®1:09 100 L 2 701: L 50 6 17 71I'
I
a
Commissioner introduced the following
resolution and moved its adoption:
EDA RESOLUTION NO.
RESOLUTION TERMINATING MANAGEMENT CONTRACT FOR EARLE
BROWN FARM
WHEREAS, by Contract dated July 18, 1980 (the
"Agreement "), the Economic Development Authority of the City of
Brooklyn Center (the "EDA") contracted with E.B.F. Management Co.
(the "Manager ") for the operation and management of the Earle
Brown Farm; and
WHEREAS, the EDA has determined that it is in the best
interest of the City of Brooklyn Center and of the EDA to
terminate the Agreement as soon as possible; and
WHEREAS, paragraph 14.02(a) of the Agreement provides
for termination upon 30 days written notice.
NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC
DEVELOPMENT AUTHORITY of the City of Brooklyn Center, Minnesota:
1. That the Agreement be terminated in accordance with the
provisions of paragraph 14.02(a) thereof, 30 days from
the date of service of notice of termination on the
Manager in accordance with Article 15 of the Agreement,
or at such earlier date as may be consented to by the
Manager.
2. That the Secretary is directed to give notice of such
termination to the Manager as soon as possible and take
such other and further action as may be necessary to
accomplish the termination of the Agreement and to
undertake management of the Farm with forces of the EDA
or the City of Brooklyn Center.
Date President
The motion for the adoption of the foregoing resolution was duly
seconded by Commissioner , and upon vote being
taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
I
20. DEPOSIT; Tenant. concurrently with the execution of this lease, has deposited with Landlord the sum of Fo Thous f h und red
---- and . -n.Q� 1 n O ------------- - - - - -- -- - - - - -- Dollars ( $4—x 5 O O . O O ), the receipt of which is hereby
acknowledged by Landlord, which sum shall be retained by Landlord as security.
21. WAIVER OF SUBROGATION: Landlord and Tenant shall each, forthwith after the execution of this Lease, procure from and cause each ofthe insurers under all policies of
insurance, now or hereafter during the term hereof existing and purchased by either or both insuring or covering the demised Premises or any portion thereof and /or
Tenant's business or operations in the demised Premises, a waiver of all rights of subrogation which the insurer under said policies might otherwise, if at all, have as against
the other hereto, said waiver to be in writing and for the express benefit of the other; the foregoing including, the following being by way of specification and not by way of
limitation, all policies of fire, theft, public liability and workers' compensation purchased by Tenant and all policies of fire and public liability insurance, if any, purchased by
Landlord.
22. RULES AND REGULATIONS:
a. Disturbance. No noise, or conduct shall be permitted at any time which will disturb or annoy other Tenants.
b. Parking. The use of parking shall be subject to the reasonable Rules and Regulations as the Owner /Landlord may promulgate uniformly for all tenants. Tenant agrees
that it will not use or permit the use by its employees of the parking area for the overnight storage of automobiles or other vehicles, which would interfere with
maintenance, snow removal, traffic flow or emergency vehicles.
c. Fixture Movement. Tenant agrees that any and all furniture, fixtures and goods will be moved by the Tenant whenever such moving is necessary for purposes of building
repair and /or maintenance by Owner /Landlord.
d. Locks. Noadditional locks will be placed on any ofthedoors in thebuilding without Owner/ Landlord's prior written approval,and unless Owner /Landlord receivesan
access key to such locks.
e. These rules may be added to or amended from time -to -time by the Owner /Landlord for the benefit of all tenants, and such amendments will become effective
immediately upon notification.
IN WITNESS WHEREOF: Landlord has caused its name to be subscribed by, and Tenant has hereunder subscribed its name the day and year first above written.
LANDLORD: F RF Mana,g.em
By
Its President
TENANT: Bell MOrta�e
B
Its �(=
i
DETACH AND RETA[UgULIS STATEMENT
THE ATTACHED CHECK 13 IN PAY ITEMS OESCRIBED BELOW.
BELL MORTGAGE IF NOT CORRECT PLEASE NOTIFY U LY. NO RECEIPT DESIRED.
DELUXE - FORM TO -3 V -6 ,
DATE DESCRIPTION AMOUNT DISTRIBUTIONS
ACCT. NO. AMOUNT
11 -19 -90 Deposit /lst month rent -Earle Brown Farm 4,500.00
EMPLOYE
EARNINGS DEDUCTIONS
PERIOD AMOUNT OVERTIME TOTAL WITHHOLDING STATE TOTAL NET PAY
ENDING HOURS RATE EARNED AT EARNINGS F.I.C.A
REGULAR RATE AND OTHER U.B. INC. TAX INCOME TAX DEDUCTIONS
V-■
Riverside Bank 6154
MMVi.wl. C.nror Oflic. �.N 872 - 897 -1000
A� B E — LLMQRTGAGE
7760 France MN 55M
Bl 7760 M
Franc N55135
� SINCE 1880 17
November 19 19 90
PAY Four thousand five hundred and no/100's - DOLLARS $ 4,500.00
TO
r �
THE EBF Management Company
ORDER
OF
J
i
II ■ 006 L 5411 ■ ® L00 1 2 701. ISO 61? ?il
�t �
Commissioner introduced the following
resolution and moved its adoption:
EDA RESOLUTION NO.
RESOLUTION TERMINATING MANAGEMENT CONTRACT FOR EARLE
BROWN FARM
WHEREAS, by Contract dated July 18, 1980 (the
"Agreement "), the Economic Development Authority of the City of
Brooklyn Center (the "EDA") contracted with E.B.F. Management Co.
(the "Manager ") for the operation and management of the Earle
Brown Farm; and
WHEREAS, the EDA has determined that it is in the best
interest of the City of Brooklyn Center and of the EDA to
terminate the Agreement as soon as possible; and
WHEREAS, paragraph 14.02(a) of the Agreement provides
for termination upon 30 days written notice.
NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC
DEVELOPMENT AUTHORITY of the City of Brooklyn Center, Minnesota:
1. That the Agreement be terminated in accordance with the
provisions of paragraph 14.02(a) thereof, 30 days from
the date of service of notice of termination on the
Manager in accordance with Article 15 of the Agreement,
or at such earlier date as may be consented to by the
Manager.
2. That the Secretary is directed to give notice of such
termination to the Manager as soon as possible and take
such other and further action as may be necessary to
accomplish the termination of the Agreement and to
undertake management of the Farm with forces of the EDA
or the City of Brooklyn Center.
Date President
The motion for the adoption of the foregoing resolution was duly
seconded by Commissioner , and upon vote being
taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.