HomeMy WebLinkAbout2018 12-10 CCP Regular Session
!"
!
#
! "#$
%
&
#
' (#
! "
#$ %#
%%
! "#$%&
! "
#
$ $ $
%
&
'
! "
&
' (! ")
* +,-./ //
-
(
)
*
$
(
$
% ,
& 0+-
- !
#
(
-++/
-+
(
(
)
+
* %
!"
#
$
% & ' "
* ,
'
-
% .
'
(
"
/
* *
" .
0 $
'
)
)
* +
,
$
+
/
. / $1
1 . /
"
'
"
$
-
-
! *
/
"
/ +
*
$1
"
+ "
'
" " "
.
$-
*
*
/
*
!2 * 3 $
*
& " 4 2 567, . 2
/
3 +
'
".
$
/ " +
0
1 2 3 4
1
!
#.
/
* .
0 $
%
! 0
'
. 5
%
)
,
$
'
%
6'%7
8
,
"
/
* 3 $ *
& "
4 2 56#8 $*. /
.
(
. $+
'
".
$
/ " +
0
1 2 9 5" +$)
!
:
.$
4 /
. . 9-
'
"
(1
) 0/ /10! /1,!- /1 /
2 03 !4 -/
/
/ + *. :+
'
"
:$
'
"
'
8
" )
% "
;
<
)
/ "
0
<
"
0
=
:>!
/
*
&
+
.
%
/
0
: 4 ;
*
% .
7<;
*
" *
&
8=
0 /
;
.
/
/
/
0 ; 1 *
!
*
/ (
'
"
:$
'
"
'
/ "
' =
"! ,
"
;
+ +
0 <
"
"
"
'
3<
"
/ ">
<
"
"
.
<
" "
.
1
/
* :/ -
'
+ = "
:$
'
+ = "
'
!
(#;! *
"<
( .;! *
"< (
.;
! *
"< ( 4"! *
"<
(! "!
"
* ! *
>#
!
/ 8 . .
+ :
?
!
'
"
:$
'
"
'
!
"
8
/ "
&9
8
"
"
?
8 %
/
1
,)
, @ 6A 3
'
"
:$
'
"
5 0 - // /
6 ! / + /
*
/ A 3 + = ,)
,
.
.,)
,
'
.
@ # "
> "4A
4
4A
4
* ! *
>
0 $
/ *
'
"
8
)
"
&
". "
@
3 (
* ! *
!
/ (
'
"
8
)
"
".
"
. .
@ 3 (
! ,
'
+7
!"
# $%
&
'(
% ) ""*'+
!
!"
#
$
% & ' "
!
"',&''&
'5$)7
0,187(62)7+(352&((',1*62)7+(&,7<&281&,/
2)7+(&,7<2)%522./<1&(17(5,17+(&2817<
2)+(11(3,1$1'7+(67$7(2)0,11(627$
678'<6(66,21
129(0%(5
&,7<+$//±&281&,/&+$0%(56
&$//7225'(5
7KH%URRNO\Q&HQWHU&LW\&RXQFLOPHWLQ6WXG\6HVVLRQFDOOHGWRRUGHUE\0D\RU7LP:LOOVRQ
DW SP
52//&$//
0D\RU 7LP :LOOVRQ DQG &RXQFLOPHPEHUV 0DUTXLWD %XWOHU $SULO *UDYHV DQG 'DQ 5\DQ
&RXQFLOPHPEHU .ULV /DZUHQFH$QGHUVRQ ZDV DEVHQW DQG H[FXVHG $OVR SUHVHQW ZHUH &LW\
0DQDJHU &XUW %RJDQH\ 'HSXW\ &LW\ 0DQDJHU 5HJJLH (GZDUGV &RPPXQLW\ 'HYHORSPHQW
'LUHFWRU0HJ%HHNPDQ3ODQQHUDQG=RQLQJ$GPLQLVWUDWRU*LQQ\0F,QWRVK&LW\$WWRUQH\7UR\
*LOFKULVWDQG0DU\0XOOHQ7LPH6DYHU2II6LWH6HFUHWDULDO,QF
&,7<&281&,/',6&866,212)$*(1'$,7(06$1'48(67,216
0U%RJDQH\UHTXHVWHGWKHIROORZLQJFRUUHFWLRQVWRWKH5HJXODU0HHWLQJPLQXWHVRI1RYHPEHU
3DJHSDUDJUDSKOLQHUHSODFH³.LP´ZLWK³.KH0HH´
3DJHSDUDJUDSKOLQHUHSODFH³3DQ\D³ZLWK³<RXQJ&KD´
&RXQFLOPHPEHU %XWOHU UHTXHVWHG WKH IROORZLQJ FRUUHFWLRQ WR WKH:RUN 6HVVLRQ PLQXWHV RI
1RYHPEHU
3DJHSDUDJUDSKOLQHUHSODFH³*UDYHV´ZLWK³%XWOHU´
,WZDVWKHPDMRULW\FRQVHQVXVRIWKH&LW\&RXQFLOWRDFFHSWWKHFRUUHFWLRQVWRWKH1RYHPEHU
5HJXODU0HHWLQJPLQXWHVDQG1RYHPEHU:RUN6HVVLRQPLQXWHV
0U%RJDQH\VWDWHGDQLWHPRQWRQLJKW¶V:RUN6HVVLRQ$JHQGDUHODWHGWRDGHYHORSPHQWSURMHFW
ZRXOGEHDGGUHVVHGGXULQJWKH:RUN6HVVLRQDIWHUWKH5HJXODU0HHWLQJ
0D\RU :LOOVRQ DVNHG UHJDUGLQJ 5HJXODU 0HHWLQJ $JHQGD ,WHP DZKHWKHU WKH <RXWK $UW
$ZDUGSDUWLFLSDQWVZLOOUHFHLYHDQDZDUGDQGKDYHWKHLUSKRWRWDNHQ0U%RJDQH\FRQILUPHG
WKLV+HDGGHGWKHDUWZRUNKDVEHHQGLVSOD\HGRQWKH&RXQFLO&KDPEHUVZDOO0D\RU:LOOVRQ
VWDWHGWKH\ORRNH[FHOOHQW
'5$)7
0,6&(//$1(286
0U%RJDQH\VWDWHGWKH&LW\6WDIIKDGUHFHLYHGDGGLWLRQDOLQIRUPDWLRQUHJDUGLQJ%URRNO\Q3DUN¶V
$JH)ULHQGO\&RPPXQLW\,QLWLDWLYH+HQRWHG&LW\6WDIILVIXOO\VXSSRUWLYHRIWKHLQLWLDWLYHDQG
UHODWHG/LVWHQLQJ'LVFXVVLRQ6HVVLRQVKDYHEHHQLQFOXGHGWRWKH:LQWHU6SULQJFDWDORJXH7ZR
VHVVLRQVDUHVFKHGXOHGIRU$SULO IURP DPDQG SP
&RXQFLOPHPEHU 5\DQ H[SUHVVHG KLVVXSSRUW RI WKHVH OLVWHQLQJ VHVVLRQV DQG DVNHG ZKHWKHU
QRWLILFDWLRQFRXOGEHDGGHGWRWKH&LW\¶V)DFHERRNSDJH0U%RJDQH\VWDWHGWKHVHVVLRQVZLOOEH
SXEOLVKHG LQ WKH QH[W &LW\ QHZVOHWWHU DQG GHWDLOV ZLOO EH LQFOXGHG LQ WKH XSFRPLQJ :HHNO\
XSGDWH
0D\RU:LOOVRQDVNHGZKHWKHUWKHVHVHVVLRQVDUHRSHQWRDOODJHJURXSV&RXQFLOPHPEHU5\DQ
VWDWHGWKHVLPLODUFRPPXQLW\LQLWLDWLYHVDUHDYDLODEOHIRUUHVLGHQWVZKRDUH\HDUVRUROGHU
0U%RJDQH\VWDWHGWKHQRWLILFDWLRQVGRQRWVSHFLI\DQDJHOLPLWDQGWKHLQIRUPDWLRQVHVVLRQV
ZLOOEHRSHQWRDOOUHVLGHQWVZKRKDYHDQLQWHUHVWLQWKHWRSLFUHJDUGOHVVRIWKHLUDJH
&RXQFLOPHPEHU*UDYHVVWDWHGVKHSODQVWRDWWHQGD³7KLQN$JDLQ%URRNO\QV´RQ1RYHPEHU
DW SPDW%URRNO\Q3DUN&LW\+DOO6KHDGGHGWKHWRSLFIRUWKHHYHQLQJLV³NHHSLQJ
ROGHUDGXOWVZLWKGLVDELOLWLHVZLWKIDPLO\´
0U%RJDQH\UHYLHZHGWKH&LW\&RXQFLO¶VGLVFXVVLRQDWWKHLU5HJXODU0HHWLQJRQ1RYHPEHU
DWZKLFKWKH7WREDFFRLQLWLDWLYHZDVGLVFXVVHG+HVWDWHG&RXQFLOPHPEHU*UDYHV
FRPPHQWHGRQWKHQHFHVVLW\RISUHYHQWLQJWKHFULPLQDOL]DWLRQRI\RXWKZKRXVHWREDFFR+H
DGGHGDFRPPHQWZDVPDGHWKDWWKDWVHFWLRQRIWKH2UGLQDQFHZDVUHPRYHGRUGHOHWHG
0U%RJDQH\VWDWHGWKH3ROLFH&KLHI*DQQRQUHTXHVWHGFODULILFDWLRQUHJDUGLQJWKHLQWHQWRIWKLV
VWDWHPHQWUHJDUGLQJ\RXWKFULPLQDOL]DWLRQ+HDGGHG3ROLFH&KLHI*DQQRQVSHFLILHGWKDWXQGHU
6WDWH6WDWXWHDSHUVRQXQGHUWKHDJHRISRVVHVVLQJDWREDFFRSURGXFWFDQEHSURVHFXWHGIRUD
SHWW\PLVGHPHDQRU+HQRWHGLQWKHSDVWWKLVKDVUDUHO\RFFXUUHGLQ%URRNO\Q&HQWHUDV\RXWK
DUHJHQHUDOO\UHTXLUHGWRSDUWLFLSDWHLQWKH'LYHUVLRQ3URJUDPLQVWHDG
&RXQFLOPHPEHU *UDYHV VWDWHG PDQ\ JURXSV HQFRXUDJHG WKH &LW\ &RXQFLO WR SDVV WKH 7
RUGLQDQFHDQGH[SUHVVHGFRQFHUQWKDWWKHRUGLQDQFHZRXOGQRWUHVXOWLQDQLQFUHDVHLQFLWDWLRQV
IRUXQGHUDJHWREDFFRXVHLIWKDWZDVWKHLURQO\LQIUDFWLRQ
0U%RJDQH\VWDWHGWKH&LW\2UGLQDQFHUHODWHVWRFLWDWLRQVIRUSHRSOHWKDWDUHRYHU\HDUVRI
DJH7KHUHLVQR&LW\SHQDOW\IRUSHRSOHZKRDUH\HDUVRIDJH
&RXQFLOPHPEHU*UDYHVVWDWHGWKHUHLVVWLOOVRPHGLVFUHWLRQRQWKHSDUWRIWKH3ROLFH2IILFHU6KH
UHTXHVWHG VSHFLILF GDWD UHJDUGLQJ \RXWK ZKR KDYH SDUWLFLSDWHG LQ WKH 'LYHUVLRQ 3URJUDP
'5$)7
LQFOXGLQJZKHWKHUWKH\ILQLVKHGWKHSURJUDPDVZHOODVSDUWLFLSDQWGHPRJUDSKLFV0U%RJDQH\
FRQILUPHGWKDW&LW\6WDIIFDQJDWKHUGDWDDQGSURYLGHWKDWLQIRUPDWLRQ
&RXQFLOPHPEHU5\DQDQG&RXQFLOPHPEHU %XWOHU H[SUHVVHG WKHLU VXSSRUW RI &RXQFLOPHPEHU
*UDYH¶VUHTXHVW
,WZDVWKHPDMRULW\FRQVHQVXVRIWKH&LW\&RXQFLOWRLQVWUXFW&LW\6WDIIWRSURYLGHDGGLWLRQDO
LQIRUPDWLRQUHJDUGLQJ\RXWKSDUWLFLSDQWVRIWKH'LYHUVLRQ3URJUDPIRUUHYLHZDQGFRQVLGHUDWLRQ
$'-28510(17
0D\RU:LOOVRQFORVHGWKH6WXG\6HVVLRQDW SP
'5$)7
0,187(62)7+(352&((',1*62)7+(&,7<&281&,/
2)7+(&,7<2)%522./<1&(17(5,17+(&2817<
2)+(11(3,1$1'7+(67$7(2)0,11(627$
5(*8/$56(66,21
129(0%(5
&,7<+$//±&281&,/&+$0%(56
,1)250$/23(1)2580:,7+&,7<&281&,/
&$//7225'(5,1)250$/23(1)2580
7KH%URRNO\Q&HQWHU&LW\&RXQFLOPHWLQ,QIRUPDO2SHQ)RUXPFDOOHGWRRUGHUE\0D\RU7LP
:LOOVRQDW SP
52//&$//
0D\RU 7LP :LOOVRQ DQG &RXQFLOPHPEHUV 0DUTXLWD %XWOHU $SULO *UDYHV DQG 'DQ 5\DQ
&RXQFLOPHPEHU .ULV /DZUHQFH$QGHUVRQ ZDV DEVHQW DQG H[FXVHG $OVR SUHVHQW ZHUH &LW\
0DQDJHU &XUW %RJDQH\ 'HSXW\ &LW\ 0DQDJHU 5HJJLH (GZDUGV &RPPXQLW\ 'HYHORSPHQW
'LUHFWRU0HJ%HHNPDQ3ODQQLQJDQG=RQLQJ$GPLQLVWUDWRU*LQQ\0F,QWRVKDQG0DU\0XOOHQ
7LPH6DYHU2II6LWH6HFUHWDULDO,QF
0D\RU7LP:LOOVRQRSHQHGWKHPHHWLQJIRUWKHSXUSRVHRI,QIRUPDO2SHQ)RUXP
7LP+DUDOGVRQQG$YHQXH1DVNHGZKHWKHUWKH&LW\KDVDQ\LQIRUPDWLRQDERXWWKH
FORVXUHRIWKH:HOOV)DUJRGULYHWKURXJKEDQNRQ%URRNO\Q%RXOHYDUG
0D\RU:LOOVRQVWDWHGWKHQ&LW\KDVQRWEHHQQRWLILHG0U%RJDQH\FRQILUPHGWKLVDGGLQJQRW
DOOORFDOEXVLQHVVHVDUHUHTXLUHGE\ODZWRQRWLI\WKH&LW\RIWKHLUFORVXUH
0RWLRQE\&RXQFLOPHPEHU5\DQVHFRQGHGE\&RXQFLOPHPEHU*UDYHVWRFORVHWKH,QIRUPDO
2SHQ)RUXPDW SP
0RWLRQSDVVHGXQDQLPRXVO\
,192&$7,21
&RXQFLOPHPEHU%XWOHUUHDGWKHIROORZLQJTXRWHVDVDQ,QYRFDWLRQ
³7KDQNIXOQHVV LV WKH EHJLQQLQJ RI JUDWLWXGH *UDWLWXGH LV WKHFRPSOHWLRQ RI WKDQNIXOQHVV
7KDQNIXOQHVVPD\FRQVLVWRIPHUHO\ZRUGV*UDWLWXGHLVVKRZQLQDFWV´+HQUL)UpGpULF$PLHO
'5$)7
³:HOHDUQHGDERXWJUDWLWXGHDQGKXPLOLW\±WKDWVRPDQ\SHRSOHKDGDKDQGLQRXUVXFFHVVIURP
WKHWHDFKHUVZKRLQVSLUHGXVWRWKHMDQLWRUVZKRNHSWRXUVFKRROFOHDQ$QGZHZHUHWDXJKWWR
YDOXHHYHU\RQH¶VFRQWULEXWLRQDQGWUHDWHYHU\RQHZLWKUHVSHFW´0LFKHOOH2EDPD
&$//7225'(55(*8/$5%86,1(660((7,1*
7KH%URRNO\Q&HQWHU&LW\&RXQFLOPHWLQ5HJXODU6HVVLRQFDOOHGWRRUGHUE\0D\RU7LP:LOOVRQ
DW SP
52//&$//
0D\RU 7LP :LOOVRQ DQG &RXQFLOPHPEHUV 0DUTXLWD %XWOHU $SULO *UDYHV DQG 'DQ 5\DQ
&RXQFLOPHPEHU .ULV /DZUHQFH$QGHUVRQ ZDV DEVHQW DQG H[FXVHG $OVR SUHVHQW ZHUH &LW\
0DQDJHU &XUW %RJDQH\ 'HSXW\ &LW\ 0DQDJHU 5HJJLH (GZDUGV &RPPXQLW\ 'HYHORSPHQW
'LUHFWRU0HJ%HHNPDQ3ODQQLQJDQG=RQLQJ$GPLQLVWUDWRU*LQQ\0F,QWRVKDQG0DU\0XOOHQ
7LPH6DYHU2II6LWH6HFUHWDULDO,QF
3/('*(2)$//(*,$1&(
7KH3OHGJHRI$OOHJLDQFHZDVUHFLWHG
$33529$/2)$*(1'$$1'&216(17$*(1'$
&RXQFLOPHPEHU5\DQPRYHGDQG&RXQFLOPHPEHU%XWOHUVHFRQGHGWRDSSURYHWKH$JHQGDDQG
&RQVHQW$JHQGDDVDPHQGHGZLWKDPHQGPHQWVWRWKH5HJXODU&RXQFLO0HHWLQJPLQXWHVRI
1RYHPEHUDQGWKHIROORZLQJFRQVHQWLWHPVZHUHDSSURYHG
D $33529$/2)0,187(6
1RYHPEHU±6SHFLDO&RXQFLO0HHWLQJ&DQYDVVLQJ%RDUG
1RYHPEHU6WXG\6HVVLRQ
1RYHPEHU±5HJXODU&RXQFLO0HHWLQJ
1RYHPEHU±:RUN6HVVLRQ0HHWLQJ
E /,&(16(6
),5(:25./,&(16(6
$PHULFDQ3URPRWLRQDO(YHQWV
'%$717)LUHZRUNV &RXQW\5RDG1R
&XE)RRGV
$PHULFDQ3URPRWLRQDO(YHQWV
'%$ 717)LUHZRUNV 6KLQJOH&UHHN3DUNZD\
7DUJHW
*$62/,1(6(59,&(67$7,21/,&(16(6
5R\DOW\ 6RQV,QF %URRNO\Q%RXOHYDUG
%URRNO\Q%3% URRNO\Q&HQWHU
'5$)7
/,48252))6$/(0$/7
$ZDG&RPSDQ\ +XPEROGW$YHQXH1
: L Q Q H U * D V % URRNO\Q&HQWHU01
'LDPRQG/DNH //& &RXQW\5RDG
&XE)RRGV% URRNO\Q&HQWHU01
. X / H Q J %URRNO\Q%RXOHYDUG
6XQ)RRGV% URRNO\Q&HQWHU01
1RUWKHUQ7LHU5HWDLO//& %URRNO\Q%RXOHYDUG
6SHHGZD\ % URRNO\Q&HQWHU01
1RUWKHUQ7LHU5HWDLO//& WK$YHQXH1
6SHHGZD\% URRNO\Q&HQWHU01
1RUWKHUQ7LHU5HWDLO//& :HVW5LYHU5RDG
% URRNO\Q&HQWHU01
0(&+$1,&$/
$GYDQFH+HDWLQJDQG$& .DQJDURR6WUHHW1(
5 D P V H \ 0 1
7RQQD0HFKDQLFDO,QF ,QGXVWULDO'ULYH1:
5 R F K H V W H U 0 1
6(&21'+$1'*22'6'($/(5
*DPHVWRS 6KLQJOH&UHHN3DUNZD\
% URRNO\Q&HQWHU01
6,*1&2175$&725
5RVH&LW\6LJQ,QF &RXQW\5RDG
( D J O H % H Q G 0 1
72%$&&2/,&(16(6
$ZDG&RPSDQLHV +XPEROGW$YHQXH1
% URRNO\Q&HQWHU01
%OHX2FHDQ,QF WK$YHQXH1
% URRNO\Q&HQWHU01
%URRNGDOH+ROLGD\ ;HU[HV$YHQXH1
% URRNO\Q&HQWHU01
&DVH\¶V*HQHUDO6WRUH )UHHZD\%RXOHYDUG
% URRNO\Q&HQWHU01
'LDPRQG/DNH //& &RXQW\5RDG
-HUU\¶V(QWHUSULVHV,QF %URRNO\Q&HQWHU01
3UHPLHU7REDFFR %URRNO\Q%RXOHYDUG
% URRNO\Q&HQWHU
5R\DOW\ 6RQV,QF %URRNO\Q%RXOHYDUG
%URRNO\Q%3% URRNO\Q&HQWHU01
/ H Q J . X %URRNO\Q%RXOHYDUG
6XQ)RRGV% URRNO\Q&HQWHU01
'5$)7
7ZR5LYHUV,QYHVWPHQW,QF +XPEROGW$YHQXH1
% URRNO\Q&HQWHU01
:DOJUHHQV&RPSDQ\ %URRNO\Q%RXOHYDUG
% URRNO\Q&HQWHU01
5(17$/
,1,7,$/ 7<3(,,±WZR\HDUOLFHQVH
)UDQFH$YHQXH1 &HUEHUXV6)5+ROGLQJV
6FRWW$YHQXH1 0DLWODQG$FTXLVLWLRQ
5(1(:$/ 7<3(,,,±RQH\HDUOLFHQVH
*HRUJHWRZQ3DUN7RZQKRXVHV :LHQVFK&RQVWUXFWLRQ PHWPLWLJDWLRQSODQ
WK$YHQXH1
-DPHV$YHQXH1 5R[DQQDQG3DWULFN.QLJKW
5(1(:$/ 7<3(,,±WZR\HDUOLFHQVH
UG$YHQXH1 $GHGDPROD2JXQGLSH
-XG\/DQH 'DYLG6KHHWV PHWPLWLJDWLRQSODQ
/DNHVLGH$YHQXH 3DXO6ZHGEHUJ
5(1(:$/ 7<3(,±WKUHH\HDUOLFHQVH
WK$YHQXH1 1D/HH9DQJ PHWPLWLJDWLRQSODQ
VW&LUFOH *KXODP3\DUDOL
QG$YHQXH1 &RVFR3URSHUWLHV//& PHWPLWLJDWLRQSODQ
&ROID[$YHQXH1 'RQDOG6SHHVH
-R\FH/DQH -RKQ-RUJHQVHQ
/LODF'ULYH1 &DUORV%DOLEUHUD
5HJHQW$YHQXH1 +RXD+HU PHWPLWLJDWLRQSODQ
0RWLRQSDVVHGXQDQLPRXVO\
35(6(17$7,216352&/$0$7,2165(&2*1,7,216'21$7,216
D <287+$57&217(67$:$5'6
&RPPXQLW\'HYHORSPHQW'LUHFWRU0HJ%HHNPDQVWDWHGWKH<RXWK$UW&RQWHVWZDVLQLWLDWHGDV
DQHIIRUWWRVHHN\RXWKFRPPXQLW\HQJDJHPHQW3DUWLFLSDQWVZHUHDVNHGWRVXEPLWDZRUNRIDUW
H[SUHVVLQJKRZWKH\ZDQWWRVHHWKHLUFRPPXQLW\LQLQFRQQHFWLRQZLWKWKH&LW\¶V
&RPSUHKHQVLYH3ODQ6KHDGGHGSDUWLFLSDQWVPXVWEHVWXGHQWVLQJUDGHVZKRUHVLGHLQ
%URRNO\Q&HQWHURUJRWRVFKRROLQ%URRNO\Q&HQWHU6KHQRWHGWKHHQWULHVZHUHMXGJHGE\WKH
&LW\&RXQFLODQGSRLQWVZHUHJLYHQEDVHGRQLQWHUSUHWDWLRQDUWLVWLFPHULWDQGTXDOLW\RIWKH
DUWZRUN
0V%HHNPDQVWDWHGWKH<RXWK$UW&RQWHVWZLQQHUVZLOOEHDQQRXQFHGWKLVHYHQLQJ6KHDGGHG
WKH\ZLOOUHFHLYHD&HUWLILFDWHD7DUJHWJLIWFDUGDQGDSKRWRZLWK0D\RU:LOOVRQ6KHQRWHGWKH
'5$)7
DUWZRUNLVFXUUHQWO\EHLQJKXQJLQWKH&RXQFLO&KDPEHUVEXWDSHUPDQHQWKRPHZLOOEHIRXQGLQ
RQHRIWKH&LW\¶VSXEOLFIDFLOLWLHV
0D\RU:LOOVRQUHTXHVWHGWKDWSKRWRJUDSKVRIWKHDUWZRUNEHVFDQQHGDQGSRVWHGRQWKH&LW\¶V
ZHEVLWH0V%HHNPDQDJUHHG
0D\RU:LOOVRQSUHVHQWHGWKH<RXWK$UW&RQWHVWZLQQHUV
)DGRXO%DNHU±6HFRQGDQG7KLUG3ODFHWKWKJUDGHFDWHJRU\±QRWSUHVHQW
$QQD<DQJ±)LUVW3ODFHWKWKJUDGHFDWHJRU\
0D\RU:LOOVRQUHDGIURP0V<DQJ¶VHQWU\ ³SHRSOHKROGLQJKDQGVDURXQGWKHZRUOG7RJHWKHU
ZHDUHVWURQJDQGFDQEHPRUHVXSSRUWLYHZLWKHDFKRWKHUQRPDWWHUZKDWQDWLRQDOLW\\RXDUH
7KLVLVZKDW%URRNO\Q&HQWHUZLOOEHLQ´
0D\RU:LOOVRQSUHVHQWHGWKH$UW$ZDUGWR0V<DQJ
&KD/HH<DQJ±7KLUG3ODFH WKWKJUDGHFDWHJRU\±QRWSUHVHQW
.KH0HH<DQJ±6HFRQG3ODFH WKWKJUDGHFDWHJRU\
0D\RU:LOOVRQUHDGIURP0V<DQJ¶VHQWU\ ³7KHLPDJH,GUHZVKRZVWKHIXWXUHRI%URRNO\Q
&HQWHU,ZDQWWRNHHSWKHFXOWXUHRIWKHHDUWK(GXFDWLRQWDNHVDQLPSRUWDQWUROHLQDSHUVRQ¶V
OLIH0XOWLSOHEXLOGLQJVVKRZWKHH[SDQVLRQRI%URRNO\Q&HQWHU´
<RQJ&KD<DQJ±)LUVW3ODFH WKWKJUDGHFDWHJRU\
0D\RU:LOOVRQUHDGIURP0V<DQJ¶VHQWU\ ³,QWKLVSRVWHUWKHUHDUHKDQGVKROGLQJDEDOOZKLFK
LV%URRNO\Q&HQWHU(DFKKDQGKHOSVWRKROGWKHFRPPXQLW\XSDVWKHOLJKWEHFRPHVEULJKWHU,Q
WKHIXWXUHWKHFRPPXQLW\ZLOOEHFRPHPRUHVDIHVHFXUHDQGORYHG´
0D\RU:LOOVRQFRQJUDWXODWHGWKH$UW&RQWHVWZLQQHUVDQGWKDQNHGDOOWKHSDUWLFLSDQWV
38%/,&+($5,1*6
1RQH
3/$11,1*&200,66,21,7(06
D 5(62/87,21 12 $33529,1* 3/$11,1* &200,66,21
$33/,&$7,2112 )25$63(&,$/86(3(50,7)25$1$'8/7
'$<&$5()$&,/,7< /2&$7('$7%522./<1%28/(9$5'
3ODQQLQJDQG=RQLQJ$GPLQLVWUDWRU*LQQ\0F,QWRVKUHYLHZHGDQDSSOLFDWLRQIRUD6SHFLDO8VH
3HUPLWIRUDQDGXOWGD\FDUHIDFLOLW\DW%URRNO\Q%RXOHYDUG6KHVWDWHGWKHH[LVWLQJVWRU\
VWUXFWXUHZDVFRQVWUXFWHGLQ DQGWKHDSSOLFDQWSURSRVHVWRXVHRQO\WKHPDLQIORRURIWKH
VTXDUHIRRWEXLOGLQJ6KHQRWHGWKHDSSOLFDQW0RKDPHG$OEHUWLVDOVRWKH2ZQHUDQG
$GPLQLVWUDWRURI6HUHQLW\+RPH+HDOWK&DUH6\VWHPLQ6W3DXO0U$OEHUWZDVSUHVHQWDWWKH
PHHWLQJWRDQVZHUWKH&LW\&RXQFLO¶VTXHVWLRQVDQGUHFHLYHFRPPHQWV
'5$)7
0V0F,QWRVKVWDWHGQRWLILFDWLRQRIWKHUHTXHVWZDVSODFHGLQWKHORFDOQHZVSDSHUDVZHOODV
OHWWHUVVHQWWRDGMDFHQWSURSHUW\RZQHUV6KHDGGHGWKH&'LVWULFWGRHVQRWDFNQRZOHGJH³DGXOW
GD\FDUH´DVDXVH KRZHYHU6WDWH6WDWXWHGHILQHV³DGXOWGD\FDUH´DVSURYLVLRQRI³VHUYLFHVWR
IXQFWLRQDOO\LPSDLUHGDGXOWVIRUOHVVWKDQKRXUVDGD\LQDVHWWLQJRWKHUWKDQDSULYDWHKRPH´
6KHQRWHGWKHSURSRVHGDGXOWGD\FDUHZRXOGSURYLGHLQGLYLGXDOL]HGDQGFRRUGLQDWHGVHUYLFHV
IURP0RQGD\WKURXJK6DWXUGD\IURP DP± SPDQGDPD[LPXPRIIRXUWUDQVSRUW
YDQVZRXOGEHVWRUHGRQVLWH
0V0F,QWRVKVWDWHGWKHSURSRVHGDGXOWGD\FDUHZRXOGUHTXLUHQXUVLQJVWDIIDQGDLGVWR
DVVLVWWKURXJKRXWWKHGD\6KHDGGHGWKHUHDUHSDUNLQJVSDFHVDQGDGGLWLRQDOSURRIRI
SDUNLQJVSDFHDOWKRXJKRQO\SDUNLQJVSDFHVZRXOGEHUHTXLUHG6KHQRWHGDILUHLQVSHFWLRQ
ZDVFRPSOHWHGDQGLQFOXGHVUHTXLUHPHQWVIRUUHVWULSLQJRISDUNLQJVSDFHVDVZHOODVPDLQWHQDQFH
DQGPRQLWRULQJRIWKHILUHVSULQNOHUV\VWHP7KHXVHRIFRPEXVWLEOHVDQGH[WHQVLRQFRUGVLQD
VWRUDJHURRPPXVWDOVREHDGGUHVVHG
0V0F,QWRVKVWDWHGRQVLWHSDUNLQJPXVWPHHWVLWHSODQDSSURYDOVLQFOXGLQJVLWHGHYHORSPHQW
DSSURYDOVIURP 7KH3ODQQLQJ&RPPLVVLRQKHOGDSXEOLFKHDULQJDWWKHLU1RYHPEHU
PHHWLQJDQGWKHUHZHUHQRSXEOLFFRPPHQWV7KH3ODQQLQJ&RPPLVVLRQXQDQLPRXVO\
UHFRPPHQGHGDSSURYDORIWKH6SHFLDO8VH3HUPLW
&RXQFLOPHPEHU 5\DQ PRYHG DQG &RXQFLOPHPEHU *UDYHV VHFRQGHG WR DGRSW 5(62/87,21
12DSSURYLQJ3ODQQLQJ&RPPLVVLRQ$SSOLFDWLRQ1R IRUD6SHFLDO8VH
3HUPLWIRUDQ$GXOW'D\FDUH)DFLOLW\ /RFDWHGDW%URRNO\Q%RXOHYDUG
0RWLRQSDVVHGXQDQLPRXVO\
&281&,/&216,'(5$7,21,7(06
1RQH
&281&,/5(3257
&RXQFLOPHPEHU5\DQUHSRUWHGRQKLVDWWHQGDQFHDWWKHIROORZLQJDQGSURYLGHGLQIRUPDWLRQRQ
WKHIROORZLQJXSFRPLQJHYHQWV
x1RYHPEHU±WRXURI$ODWXVDSDUWPHQWGHYHORSPHQWLQ&U\VWDO±&LW\
&RXQFLOPHPEHUVKDGDFKDQFHWRYLHZWKHSURSHUW\WRGHWHUPLQHZKHWKHUDVLPLODUPXOWL
IDPLO\XQLWZRXOGEHDJRRGILWIRU%URRNO\Q&HQWHU+HDGGHGKHUHFRPPHQGVPRYLQJ
IRUZDUGZLWKWKLVSURSRVHGSURMHFW
x'HFHPEHU±ZLOODWWHQG7UXWKLQ7D[DWLRQPHHWLQJDQGSXEOLFKHDULQJ)LQDQFH
'LUHFWRU1DWKDQ5HLQKDUGWZLOOSUHVHQWWKH %XGJHW
x'HFHPEHU±ZLOODWWHQG%XVLQHVV&KDPSLRQVIRU<RXWKOXQFKHRQIURP DP±
SPDW(GLQEXUJK86$&OXEKRXVHLQ%URRNO\Q3DUN
x'HFHPEHU±ZLOODWWHQG&HQVXV&RPPXQLW\0HHWLQJDW1RUWKSRUW(OHPHQWDU\
6FKRROIURP SP
'5$)7
&RXQFLOPHPEHU*UDYHVUHSRUWHGRQKHUDWWHQGDQFHDWWKHIROORZLQJDQGSURYLGHGLQIRUPDWLRQRQ
WKHIROORZLQJXSFRPLQJHYHQWV
x1RYHPEHU±XQDEOHWRDWWHQG3DUNDQG5HFUHDWLRQ&RPPLVVLRQPHHWLQJGXHWR&LW\
&RXQFLOPHHWLQJ
x1RYHPEHU±PHWZLWK-HUHPLDK(OOLVRQQHZO\HOHFWHG0LQQHDSROLV&LW\
&RXQFLOPHPEHUUHSUHVHQWLQJ:DUG$OVRDWWHQGHG-DPDU&ODUNYLJLORQ3O\PRXWK$YHQXH
x1RYHPEHU±PHWZLWK-LOOLD3HVVHQGD3ROLWLFDO'LUHFWRURI:RPHQ:LQQLQJ
x1RYHPEHU±1RUWKVLGH8UEDQ&RDOLWLRQPHHWLQJRQWKHWRSLFRIRSLRLGDQGDOFRKRO
DGGLFWLRQ
x1RYHPEHU ±PHWZLWK+HQQHSLQ&RXQW\&RPPLVVLRQHU0LNH2SDW
x1RYHPEHU ±DWWHQGHG%URRNO\QV<RXWK&RXQFLOPHHWLQJ
x1RYHPEHU±PHWZLWK%URRNO\Q&HQWHU0D\RU(OHFW0LNH(OOLRWW
x1RYHPEHU±WRXURI$ODWXVDSDUWPHQWGHYHORSPHQWLQ&U\VWDOZLWK&LW\&RXQFLO
&RXQFLOPHPEHU%XWOHUUHSRUWHGRQKHUDWWHQGDQFHDWWKHIROORZLQJDQGSURYLGHGLQIRUPDWLRQRQ
WKHIROORZLQJXSFRPLQJHYHQWV
x1RYHPEHU±+RXVLQJ&RPPLVVLRQPHHWLQJ
x1RYHPEHU±WRXURI$ODWXVDSDUWPHQWGHYHORSPHQWLQ&U\VWDOZLWK&LW\&RXQFLO
0D\RU:LOOVRQUHSRUWHGRQKLVDWWHQGDQFHDWWKHIROORZLQJDQGSURYLGHGLQIRUPDWLRQRQWKH
IROORZLQJXSFRPLQJHYHQWV
x1RYHPEHU±SDUWLFLSDWHGLQ5RWDU\&OXE&KULVWPDV%HOO5LQJLQJDW&XE)RRGVLQ
%URRNO\Q&HQWHU
0D\RU:LOOVRQUHPLQGHGUHVLGHQWVWKDWQRVWUHHWSDUNLQJZLOOEHDOORZHGZKHQWKHUHLVD
VQRZIDOORI´RUPRUHWRDOORZIRUVQRZUHPRYDO4XHVWLRQVFDQEHGLUHFWHGWR&LW\6WDIIDW
$'-28510(17
&RXQFLOPHPEHU 5\DQ PRYHG DQG &RXQFLOPHPEHU *UDYHV VHFRQGHG DGMRXUQPHQW RI WKH &LW\
&RXQFLOPHHWLQJDW SP
0RWLRQSDVVHGXQDQLPRXVO\
'5$)7
0,187(62)7+(352&((',1*62)7+(&,7<&281&,/(&2120,&
'(9(/230(17$87+25,7<2)7+(&,7<2)%522./<1&(17(5
,17+(&2817<2)+(11(3,1$1'
7+(67$7(2)0,11(627$
:25.6(66,21
129(0%(5
&,7<+$//±&281&,/&+$0%(56
&$//7225'(5
7KH %URRNO\Q &HQWHU &LW\ &RXQFLO(FRQRPLF 'HYHORSPHQW $XWKRULW\ ( ' $ P H W L Q : R U N
6HVVLRQFDOOHGWRRUGHUE\0D\RU3UHVLGHQW7LP:LOOVRQDW SP
52//&$//
0D\RU3UHVLGHQW 7LP :LOOVRQ DQG&RXQFLOPHPEHUV&RPPLVVLRQHUV 0DUTXLWD %XWOHU $SULO
*UDYHVDQG'DQ5\DQ&RXQFLOPHPEHU&RPPLVVLRQHU.ULV/DZUHQFH$QGHUVRQZDVDEVHQWDQG
H[FXVHG $OVR SUHVHQW ZHUH &LW\ 0DQDJHU &XUW %RJDQH\ 'HSXW\ &LW\ 0DQDJHU 5HJJLH
(GZDUGV&RPPXQLW\'HYHORSPHQW'LUHFWRU0HJ%HHNPDQDQG0DU\0XOOHQ7LPH6DYHU2II
6LWH6HFUHWDULDO,QF
%522./<1%28/(9$5''(9(/230(17&21&(37352326$/
&RPPXQLW\'HYHORSPHQW'LUHFWRU0HJ%HHNPDQUHYLHZHGDSRWHQWLDOGHYHORSPHQWRSSRUWXQLW\
DW%URRNO\Q%RXOHYDUGDQGVW$YHQXH16KHQRWHGWKHGHYHORSHUZDVSUHVHQWDWWKHPHHWLQJ
DVZHOODV6WDFLH.YLOYDQJIURP(KOHUV,QF7KHGHYHORSPHQWFRQFHSWUHYLHZSHUWDLQVWRWKUHH
SURSHUWLHVRQWKHQRUWKZHVWFRUQHURIVW$YHQXHDQG%URRNO\Q%RXOHYDUGFXUUHQWO\YDFDQWDQG
RZQHGE\WKH(FRQRPLF'HYHORSPHQW$XWKRULW\ ('$
0V%HHNPDQVWDWHGWKHSURSHUWLHVDUHLQ7,)'LVWULFW7,)GLVWULFWZDVFUHDWHGWRIDFLOLWDWHWKH
QHDUE\GHYHORSPHQWRI7KH6DQFWXDU\6KHDGGHGDFRQFHSWZDVVXEPLWWHGIRUDIRXUVWRU\
PXOWLIDPLO\ GHYHORSPHQW WKDW ZRXOG EH DIIRUGDEOH WR SHRSOH ZLWKLQ DUHD PHGLDQ
LQFRPH 6KH QRWHG KRZHYHU WKH GHYHORSPHQW LV QRW FRQVLGHUHGOHJDOO\ ELQGLQJ DIIRUGDEOH
KRXVLQJ
0D\RU3UHVLGHQW:LOOVRQDVNHGZKHWKHUKRXVLQJFDQEHERWKDIIRUGDEOHDQGPDUNHWUDWH0V
%HHNPDQVWDWHGWKHFXUUHQWDYHUDJHPDUNHWUDWHLQ%URRNO\Q&HQWHUIRUPXOWLIDPLO\KRXVLQJLV
DIIRUGDEOHWRUHQWHUVZLWKRIWKHDUHDPHGLDQLQFRPH6KHDGGHGUHQWDOEXLOGLQJVLQ
%URRNO\Q&HQWHUDUHJHQHUDOO\ROGDQGQDWXUDOO\UHQWIRUOHVVZKLOHQHZGHYHORSPHQWVZRXOG
KDYHKLJKHUUHQWOHYHOV6KHDGGHGWKHTXDOLW\RIPDWHULDOVLVWKHVDPHDVRWKHUQHZFRQVWUXFWLRQ
SURMHFWVEXWXQLWVDUHVOLJKWO\VPDOOHUDQGVRPHDPHQLWLHVDUHQRWLQFOXGHG
'5$)7
0V%HHNPDQVWDWHGWKHUHQWVDUHDQWLFLSDWHGWREHLQWKHSHUVTXDUHIRRWUDQJH6KHDGGHGWKH
SURSRVHGGHYHORSPHQWZRXOGTXDOLI\IRU7D[,QFUHPHQW)LQDQFLQJ 7,) DVWKHVWXGLRXQLWVPHHW
WKH0HWURSROLWDQ&RXQFLO¶VDIIRUGDELOLW\UHTXLUHPHQWRIRIWKH$UHD0HGLDQ,QFRPH $0,
0D\RU3UHVLGHQW:LOOVRQVWDWHGDVWXGLRDSDUWPHQWPD\EHDIIRUGDEOHEXWLWLVQRWDIDPLO\
DSDUWPHQW 0V %HHNPDQ DJUHHG DGGLQJ D VWXGLR DSDUWPHQW ZRXOG EH DSSURSULDWH IRU DQ
LQGLYLGXDO6KHDGGHGWKHSURSRVHGGHYHORSPHQW¶VEHGURRPXQLW6ZRXOGEHDSSURSULDWHIRUD
IDPLO\RIIRXU6KHVWDWHGWKHDIIRUGDELOLW\FULWHULDDGMXVWVEDVHGRQIDPLO\VL]H
0V%HHNPDQVWDWHGSURMHFWFRVWVZLOOEHHYDOXDWHGDVWKHUHYLHZPRYHVIRUZDUG6KHDGGHG
WKHUHLVDJDSRIPLOOLRQLQFOXGLQJPLOOLRQIRUXQGHUJURXQGSDUNLQJ7KHGHYHORSPHQW
SURMHFWGRHVQRWQHHGWRPHHWWKHVDPHLQIUDVWUXFWXUHHOLJLEOHFRVWVDVDUHGHYHORSPHQW7,)
GLVWULFWDVWKHUHLVDORZHUWKUHVKROGIRUKRXVLQJ7,)GLVWULFWV
0D\RU3UHVLGHQW:LOOVRQVWDWHGWKH7,)GLVWULFWLVJHQHUDOO\\HDUVZKLFKLVQRWHQRXJKWLPH
WRSD\EDFNPLOOLRQZLWKHVWLPDWHGWD[HVDW0V%HHNPDQVWDWHGWKHGHYHORSHU
ZLOO DSSO\ IRU SXEOLF VXEVLG\ ZKLFK ZLOO LQFOXGH D UHYLHZ E\ WKH ('$¶V SXEOLF ILQDQFH
FRQVXOWDQW6KHDGGHGDKRXVLQJ7,)GLVWULFWFDQJRXSWR\HDUVZKLFKZRXOGFUHDWHPRUH
LQFUHPHQW
&RXQFLOPHPEHU&RPPLVVLRQHU5\DQVWDWHGDFFRUGLQJWRWKH&LW\¶V&RPPXQLW\'HYHORSPHQW
'LUHFWRUQHZPXOWLIDPLO\KRXVLQJFRQVWUXFWLRQJHQHUDOO\ZDUUDQWVJRYHUQPHQWDVVLVWDQFH0V
%HHNPDQ DJUHHG DGGLQJ PDQ\ IDFWRUV FRQWULEXWH WR WKH KLJK FRVW RI QHZ PXOWLIDPLO\
GHYHORSPHQWLQFOXGLQJFRQVWUXFWLRQFRVWVODQGYDOXHDQGGHPDQG
&RXQFLOPHPEHU&RPPLVVLRQHU 5\DQ VWDWHG WKH GHYHORSHU FRXOG WU\WR XVH DV PXFK VXUIDFH
SDUNLQJDVSRVVLEOHWRPLQLPL]HWKHFRVWRIVWUXFWXUH'SDUNLQJ+HDGGHGWKH&LW\&RXQFLO
YLVLWHGWKH$ODWXVKRXVLQJGHYHORSPHQWLQ1HZ+RSHWKDWGD\DQGXQGHUJURXQGSDUNLQJLVWKH
PRVWH[SHQVLYHW\SHRISDUNLQJ0V%HHNPDQDJUHHGDGGLQJSDUNLQJDWWKDWIDFLOLW\LV
SHUVWDOO
0D\RU3UHVLGHQW:LOOVRQDVNHGZKDWOLDELOLW\WKH&LW\ZRXOGKDYHLIWKHUHLVDQDWXUDOGLVDVWHU
DQGWKHEXLOGLQJQRORQJHUJHQHUDWHVIXQGVWRSD\RIIWKH7,)GLVWULFW
6WDFLH.YLOYDQJ(KOHUV,QF5RVHYLOOHVWDWHGLQDQVZHUWR0D\RU3UHVLGHQW:LOOVRQ¶VTXHVWLRQ
7,)LVRQO\JHQHUDWHGZLWKDSD\DV\RXJRQRWHDQGWKH&LW\ZRXOGKDYHQRREOLJDWLRQWRPDNH
SD\PHQWV LQ WKH HYHQW RI QDWXUDO GLVDVWHU 6KH DGGHG LW LV WKH ULVN RI WKH GHYHORSHU ZKR
JXDUDQWHHVUHSD\PHQWWRWKHEDQN7KHWD[LQFUHPHQWSD\PHQWRIIWKHWD[EDVLVLVWKH&LW\¶VRQO\
REOLJDWLRQ
0V%HHNPDQVWDWHGEDVHGRQWKLVHYHQLQJ¶VGLVFXVVLRQWKHUHDUHSRWHQWLDOFRPSRQHQWVWRDQ
DSSOLFDWLRQ WR SURFHHG ZLWK WKH GHYHORSPHQW 7KH GHYHORSHU ZLOO VXEPLW D SXEOLF VXEVLG\
UHTXHVW ZKLFK ZLOO LQFOXGH D UHYLHZ E\ WKH &LW\¶V FRQVXOWDQWWKH &LW\ DQG WKH (FRQRPLF
'5$)7
'HYHORSPHQW$XWKRULW\ ('$ 7KHGHYHORSHUZLOOSUHVHQWWKHLUSODQVWR3ODQQLQJ&RPPLVVLRQ
WRFRQILUPWKDWWKHLUSURSRVDOLVLQOLQHZLWKWKH&RPSUHKHQVLYH3ODQDQGWKHQWKHSODQVZLOOEH
SUHVHQWHGWRWKH&LW\&RXQFLODQG('$
0V %HHNPDQ VWDWHG WKH ('$RZQHG SURSHUW\ VDOH ZRXOG PRYH IRUZDUGZLWKDSUHOLPLQDU\
GHYHORSPHQWDJUHHPHQWVRWKHGHYHORSHUZRXOGKDYHWKHSURSHUW\XQGHUFRQWUDFW6KHDGGHG
WKLVPXVWEHDSSURYHGE\WKH('$DQGDSXEOLFKHDULQJLVUHTXLUHGWRILQDOL]HWKHVDOHRIWKH
SURSHUW\6KHQRWHGWKHUHLVWKHSRVVLELOLW\RID&RPSUHKHQVLYH3ODQDPHQGPHQWDOWKRXJKVKHLV
XQVXUHKRZDQDPHQGPHQWUHTXHVWZRXOGEHKDQGOHGDVWKH0HWURSROLWDQ&RXQFLOVWRSVWDNLQJ
DPHQGPHQWUHTXHVWVDWWKHHQGRIWKLV\HDU
0V%HHNPDQVWDWHGWKHGUDIW3ODQKDVEHHQVXEPLWWHGWRWKH0HWURSROLWDQ&RXQFLOIRU
SUHOLPLQDU\UHYLHZDQGLQFOXGHVJXLGHOLQHVIRUPXOWLIDPLO\GHYHORSPHQW6KHDGGHGKRZHYHU
WKLVSURSRVHGGHYHORSPHQWZRXOGUHTXLUHDQDPHQGPHQWWKDWLVPRUHLQOLQHZLWKWKHIXWXUH
&RPSUHKHQVLYH3ODQ
0D\RU3UHVLGHQW:LOOVRQVWDWHGWKH0HWURSROLWDQ&RXQFLOZLOOKDYHWRFRQVLGHU&RPSUHKHQVLYH
3ODQGUDIWFKDQJHVXSXQWLO$SULO
0V %HHNPDQ VWDWHG WKH WKUHH SDUFHOV LQ TXHVWLRQ DUH ZLWKLQ WKH %URRNO\Q %RXOHYDUG
5HFRQVWUXFWLRQ$UHDWKH&LW\LVDFWLYHO\HQJDJHGLQDFTXLULQJVLQJOHIDPLO\SURSHUWLHVLGHQWLILHG
IRUKLJKLQWHQVLW\XVH6KHDGGHGWKLVDUHDDOVRIDOOVZLWKLQWKH%URRNO\Q%RXOHYDUG2YHUOD\
'LVWULFW
0D\RU3UHVLGHQW :LOOVRQ VWDWHG WKH 2YHUOD\ 'LVWULFW VKRXOG EH UHYLHZHG E\ WKH 3ODQQLQJ
&RPPLVVLRQVRWKDWWKLVW\SHRIGHYHORSPHQWLVDOORZHGDORQJ%URRNO\Q%RXOHYDUG
3DWULFN&UXLNVKDQNDQG-DFNVRQ&UXLNVKDQN7+25/LYLQJ3HQQ$YHQXH0LQQHDSROLV
VWDWHG7+25/LYLQJLVDPLQRULW\RZQHGFRQVWUXFWLRQGHVLJQDQGGHYHORSPHQWILUPIRFXVHGRQ
KRXVLQJZLWKDPLFURIRFXVRQDWWDLQDEOHKRXVLQJ+HDGGHGWKLVGHYHORSPHQWLVPDUNHWUDWH
KRXVLQJEXWLWLVDOVRUHIHUUHGWRDVDWWDLQDEOHRUZRUNIRUFHKRXVLQJ
0D\RU3UHVLGHQW :LOOVRQ DVNHG ZKHWKHU D ZDJH VFDOH LV DYDLODEOHI R U W K H G H Y H O R S P H Q W ¶ V
HPSOR\HHV0U&UXLNVKDQNVWDWHGWKHSURSHUW\PDQDJHPHQWZLOOEHUHVSRQVLEOHIRUWKHZDJH
VFDOH
0D\RU3UHVLGHQW :LOOVRQ UHTXHVWHG WKDW WKH ZDJH VFDOH ZKHQ LWLV GHWHUPLQHG VKRXOG EH
LQFOXGHGLQWKHGHYHORSHUDJUHHPHQWZKHQLWLVQHJRWLDWHG
&LW\0DQDJHU&XUW%RJDQH\VWDWHGFHUWDLQSURMHFWVDUHUHTXLUHGWRKDYHDVXEVLG\DJUHHPHQWZLWK
WKH&LW\WRLGHQWLI\WKHQXPEHURIMREVDQGZDJHUDWHV+HDGGHGDWDUHFHQW:RUN6HVVLRQWKH
&LW\&RXQFLO('$KDGGLVFXVVHGWKHLPSRUWDQFHRIXSJUDGLQJWKHVXEVLG\SROLF\¶VZDJHVHFWLRQ
'5$)7
+HDGGHGWKLVUHSUHVHQWVDQRSSRUWXQLW\WRFKDQJHWKHPLQLPXPZDJHUHTXLUHPHQW+HQRWHG
TXDOLI\LQJGHYHORSHUVZRXOGEHREOLJDWHGWRPHHWWKRVHVWDQGDUGV
&RXQFLOPHPEHU&RPPLVVLRQHU 5\DQ DVNHG UHJDUGLQJ GHQVLW\ ZKHWKHU WKH QXPEHU RI XQLWV
FRXOGEHLQFUHDVHGWRSURYLGHDPRUHIDYRUDEOHFRVWSHUXQLW+HDVNHGZKHWKHUPRUHWKDQ
XQLWVLVDSRVVLELOLW\
0U&UXLNVKDQNVWDWHGWKHGHQVLW\LVOLPLWHGE\SDUNLQJ+HDGGHGLWZRXOGEHGLIILFXOWWRDGG
PRUHVXUIDFHSDUNLQJ+HQRWHGDQXQGHUJURXQGSDUNLQJVWDOOLVHVWLPDWHGWRFRVWWR
EXLOG
0D\RU3UHVLGHQW:LOOVRQVWDWHGWKHUHZRXOGEHDQRSSRUWXQLW\IRUPRUHXQGHUJURXQGSDUNLQJLI
WKHEXLOGLQJZDVORQJHU0U&UXLNVKDQNVWDWHGWKHSURSRVHGVXUIDFHSDUNLQJZRXOGEHORVW
ZKLFKZRXOGUDLVHWKHSULFHRIFRQVWUXFWLRQ+HDGGHGWKHFXUUHQWEDODQFHZRUNVEXWWKH\DUH
ZLOOLQJWRORRNDWGLIIHUHQWRSWLRQV+HSUHVHQWHGDYDULHW\RIFRQFHSWGUDZLQJVIRUWKH&LW\
&RXQFLO('$¶VUHYLHZDQGGLVFXVVLRQ
0D\RU3UHVLGHQW:LOOVRQDVNHGZKHWKHUWKHUHZLOOEHVFUHHQLQJRQWKHZHVWHGJHRIWKHSDUNLQJ
DUHD0U&UXLNVKDQNDJUHHGWRUHYLHZWKDWLVVXH
0D\RU3UHVLGHQW:LOOVRQVWDWHGKHDSSUHFLDWHVWKDW7+25/LYLQJLVLQWHUHVWHGLQGHYHORSLQJWKLV
SURSHUW\DQGKHWKDQNHGWKHGHYHORSPHQWFRPSDQ\IRUWKHLUHIIRUWVLQKHOSLQJWKH&LW\LPSURYH
DQGJURZWKLVDUHD
0D\RU3UHVLGHQW:LOOVRQVWDWHGWKHGHYHORSPHQWSURMHFWVRXQGVIHDVLEOHWKHUHLVDQHHGIRULW
DQGKHZRXOGOLNHWRVHHLWPRYHIRUZDUG
&RXQFLOPHPEHU&RPPLVVLRQHU5\DQVWDWHGKHEHOLHYHVWKHUHZRXOGEHSXVKEDFNDERXWD
VWRU\GHYHORSPHQW+HDGGHGWKHUHLVRQO\VRPXFKURRPIRUVHUYLFHSDUNLQJ+HQRWHGKHLV
SOHDVHGWRVHHWKLVSODQDQGKHZRXOGOLNHWRVHHLWPRYHIRUZDUGWREHFRPHDPRUHVSHFLILF
SURSRVDO
&RXQFLOPHPEHU&RPPLVVLRQHU5\DQVWDWHGKHLVKRSHIXOWKDW2SSRUWXQLW\=RQHOHJLVODWLRQZLOO
FUHDWHLQFHQWLYHVIRUGHYHORSHUV
&RXQFLOPHPEHU&RPPLVVLRQHU *UDYHV H[SUHVVHG FRQFHUQ WKDW ³DWWDLQDEOH´ KRXVLQJ LV VWLOO
H[SHQVLYH6KHDVNHGKRZWKHGHYHORSPHQWPHHWV³DIIRUGDELOLW\´VWDQGDUGVZKHQRQO\WKH
SHUVRQVWXGLRXQLWVIDOOEHORZWKH$0,UHTXLUHPHQW
0U&UXLNVKDQNVWDWHGPRVWXQLWVDUHEHWZHHQ$0,ZKLFKTXDOLILHVWKHPIRUDIIRUGDEOH
KRXVLQJ+HDGGHGRIXQLWVQHHGWRIDOOXQGHUWKH$0,WKUHVKROGDQGQRQHRIWKHXQLWV
DUHDERYH$0,
'5$)7
&RXQFLOPHPEHU&RPPLVVLRQHU *UDYHV VWDWHG VKH OLYHV DFURVV WKH VWUHHW IURP WKH SURSRVHG
GHYHORSPHQWDQGZDWFKHGWKH6DQFWXDU\EHLQJ EXLOW6KHDGGHGVKH UHDOL]HV KRZ ORQJ WKH
SURFHVVWDNHV6KHQRWHGDQDSDUWPHQWEXLOGLQJRQKHUEORFNKDVKLJKUHQWVDQGLWLVDQROGHU
EXLOGLQJ6KHH[SUHVVHGKHUVXSSRUWRIPRUHDWWDLQDEOHKRXVLQJDQGVKHLVLPSUHVVHGE\WKH
ZRUNRI7+25/LYLQJ
&RXQFLOPHPEHU&RPPLVVLRQHU5\DQVWDWHGWKH&LW\&RXQFLOKDVGLVFXVVHGWKLVGHYHORSPHQWDV
³ZRUNIRUFH´KRXVLQJZKLFKLGHQWLILHVWKHFRQFHSWDQGSULFHUDQJH0U&UXLNVKDQNDJUHHG
&RXQFLOPHPEHU&RPPLVVLRQHU %XWOHUVWDWHG WKHUH ZDV GLVFXVVLRQ DERXW UHVLGHQWV RI WKH
6DQFWXDU\FURVVLQJ%URRNO\Q%RXOHYDUGRQIRRWWRJHWWRWKHJDVVWDWLRQ6KHDVNHGZKHWKHU
WKHUHDUHDQ\FRQFHUQVDERXWSHGHVWULDQWUDIILFDQGZKHWKHUWKH&LW\KDVSODQVWRGRVRPHWKLQJDW
WKLVLQWHUVHFWLRQ
0V%HHNPDQVWDWHGDWUDIILFVWXG\ZRXOGEHFRPSOHWHGDVSDUWRIWKHSURMHFWZKLFKZRXOG
LQFOXGHDFFHVVSRLQWV6KHDGGHG3XEOLF:RUNV'HSDUWPHQWLVDZDUHRIWKHLQWHUVHFWLRQDQGKDYH
FRPPHQWHGRQWKHVLWHSODQ6KHQRWHGWKHSODQQHGURDGZD\LPSURYHPHQWVZLOOFUHDWHPXFK
VDIHUDFFHVV
0D\RU3UHVLGHQW :LOOVRQ VWDWHG WKH &LW\ &RXQFLO('$ PD\ ZLVK WR FRQVLGHU D SHGHVWULDQ
RYHUSDVVDWWKLVORFDWLRQ+HDGGHGKHZRXOGQRWVXSSRUWDVWRSOLJKWDWWKHLQWHUVHFWLRQ+H
QRWHG+HQQHSLQ&RXQW\RUWKH6WDWHRI0LQQHVRWDPD\EHZLOOLQJWRZRUNZLWKWKH&LW\RQD
VROXWLRQ
&RXQFLOPHPEHU&RPPLVVLRQHU *UDYHV VWDWHG VKH WKRXJKW WKHUH ZHUH FHQWHU PHGLDQV LQ WKH
FRQFHSWSODQ0D\RU3UHVLGHQW:LOOVRQVWDWHGWKHUHDUHPHGLDQVLQWKHSODQKRZHYHUWKH\RQO\
JHW SHGHVWULDQV KDOIZD\ DFURVV %URRNO\Q %RXOHYDUG 0U %RJDQH\ VWDWHG WKH FUHDWLRQ RI
SHGHVWULDQVDIH]RQHVLVDJRDORIWKLVSURMHFW
7KHPDMRULW\FRQVHQVXVRIWKH&LW\&RXQFLO('$ZDVWRLQVWUXFW&LW\6WDIIWRPRYHIRUZDUGZLWK
WKH SURSRVHG SURMHFW DQG SURYLGH WKH &LW\ &RXQFLO('$ ZLWK GHWDLOHG SODQV WKURXJKRXW WKH
SURFHVV
$'-28510(17
&RXQFLOPHPEHU&RPPLVVLRQHU 5\DQ PRYHG DQG &RXQFLOPHPEHU&RPPLVVLRQHU %XWOHU
VHFRQGHGDGMRXUQPHQWRIWKH&LW\&RXQFLO(FRQRPLF'HYHORSPHQW$XWKRULW\:RUN6HVVLRQDW
SP
0RWLRQSDVVHGXQDQLPRXVO\
12/03/18 -1- DRAFT
MINUTES OF THE PROCEEDINGS OF THE CITY COUNCIL
OF THE CITY OF BROOKLYN CENTER IN THE COUNTY
OF HENNEPIN AND THE STATE OF MINNESOTA
SPECIAL MEETING
DECEMBER 3, 2018
CITY HALL – COUNCIL CHAMBERS
1. CALL TO ORDER
The Brooklyn Center City Council met in Special Meeting called to order by Mayor Tim Willson
at 7:00 p.m.
2. ROLL CALL
Mayor Tim Willson and Councilmembers Kris Lawrence-Anderson and Dan Ryan.
Councilmember April Graves and Marquita Butler were absent and excused. Also present were
City Manager Curt Boganey, Finance Director Nate Reinhardt, and Mary Mullen, TimeSaver Off
Site Secretarial, Inc.
3. CONSIDERATION OF 2019 BUDGET AND PUBLIC HEARING
Finance Director Nate Reinhardt reviewed the City budget process to provide the general public
with information on the 2019 proposed budget and tax levy prior to their adoption. He added
budget planning include a series of Joint Budget Study Sessions with the City Council and
Financial Commission. He noted the strategic priorities of the 2019 Budget include economic
stability, redevelopment, and community engagement.
Mr. Reinhardt reviewed 2019 the proposed levy in comparison to the Statewide average. He
added the comparison is favorable, although the City’s levy is slightly higher than average. He
noted the proposed levy is driven by limited growth in non-property tax revenue and an increase
in City personnel and infrastructure costs.
Mr. Reinhardt stated costs related to Personnel include a 3% base wage increase for all City
employees, as well as the addition of staff. He added these additions include an Engineering
Technician, Building Inspector, Community Engagement Specialists, as well as a part-time
Human Resources Specialist and part-time youth recreational programming staff.
Mr. Reinhardt stated Capital Improvement projects identified in the budget include public
utilities, street improvements, parks improvements and capital maintenance building
improvements.
Mr. Reinhardt stated residential property taxes can change based on the value of the property or
Brooklyn Center property values, as well as General Fund operational costs.
12/03/18 -2- DRAFT
Mr. Boganey stated residential and multi-family apartment values are increasing at almost twice
the rate of all other values or uses.
Mr. Reinhardt reviewed property tax increases on the City’s median value home, or the home at
which 50% of property values are higher and 50% are lower. He added the median home value
would see a 4.4% tax increase even if the City Council adopts a zero-increase budget. He noted
any questions or comments related to residential property values should be directed to City Staff
or the Hennepin County Assessor, Josh Whitney.
Mr. Boganey stated the Board of Appeal and Equalization hearing will be held in the spring
2019, at which residents have an opportunity to contest their property values. He added
individual property values will not be addressed at tonight’s Budget Hearing.
Councilmember Ryan stated the median residential property value of $184,000 represents a 10%
increase, or $123 per year, over last year. He added some properties have higher values,
including properties on the river or on Twin Lake, as Assessor standards tend to raise those types
of property values.
Mr. Boganey stated those properties tend to have a higher value because of their location, that is
easier to retain and increases at a faster rate than other properties.
Councilmember Ryan moved and Councilmember Lawrence-Anderson seconded to open the
Public Hearing at 7:24 p.m.
Motion passed unanimously.
Gary Brown, 7012 Willow Lane, stated his residential property is on the river. He added he sees
stores continually closing and commercial property being taken down. He added the Community
Development budget has risen over 14%.
Mayor Willson stated major commercial development will occur in Brooklyn Center during the
next two years on significant pieces of property.
Mr. Brown stated he thinks the increase in his property value is reasonable. He added, however,
there seems to be very little being done about commercial development in Brooklyn Center.
Councilmember Ryan stated he appreciates Mr. Brown’s comments. He added Brooklyn
Center’s budget and expenses are like many communities across the Midwest, especially
considering the recent recession. He noted he has challenged the City’s Community
Development Department to continue to be proactive.
Councilmember Ryan stated the City has entered into a preliminary development agreement with
Alatus LLC for a $200 million residential project on 35 acres within the City’s Opportunity Site.
12/03/18 -3- DRAFT
Scott Terhaar, 7216 Riverdale Road, stated he questions the assessed value of his home. He
added he did some research and Brooklyn Center has the highest effective tax rate out of the 40
cities he researched. He noted his property value and taxes have gone up in the past two years,
and it is difficult to see residents taking on an increased tax burden. He expressed concern that
higher property taxes will decrease the value of his home.
Cindy Roberts, 6442 Lee Avenue North, stated her property value increased by 20%, although
that increase in value is not realized unless they sell their home. She added there are no
increases in wages happening at her home.
Tim Haroldson, 1207 72nd Avenue North, stated he loves the fact that his property value
increased by 19.7%. He asked why an Engineering Technician is being added to City Staff, as
well as a third Building Inspector. He asked why the City needs additional Community
Engagement staff.
Mayor Willson stated these Engineering Technician and Building Inspector staff are vital
positions, and are busy working on various projects. He added the increased Community
Engagement staff is part of a recent City-wide initiative to reach out to residents in our diverse
community. The goals of this important initiative are an increased sense of community and
improved involvement within Brooklyn Center.
Mr. Haroldson stated he feels like there is more crime, and he would like to see some focus on
issues and projects that are not getting completed. He added he appreciates the hard work of the
City Council. He reiterated his concern regarding the staff salaries presented in the 2019 Budget.
Mayor Willson recommended that Mr. Haroldson submit an application for the Financial
Commission, which currently has two openings.
Councilmember Lawrence-Anderson moved and Councilmember Ryan seconded to close the
Public Hearing at 7:41 p.m.
Motion passed unanimously.
Mr. Boganey expressed his appreciation of the resident comments expressed during the public
hearing. He added many commercial developments have been approved and are in planning
stages, including a new Casey’s Store, and two new sites are under construction: a commercial
storage facility and a new hotel next to Embassy Suites. He noted a residential development
project with 35 new single-family homes has also been approved and construction is planned for
next fall, as well as a multi-family residential development at the Opportunity Site.
Mr. Boganey stated Brooklyn Center’s residents will see many new redevelopment projects. He
noted Brooklyn Center was one of the metropolitan area communities where, during the
12/03/18 -4- DRAFT
recession, property values fell the quickest and deepest. Other second-ring suburbs began to
recover their values sooner, but Brooklyn Center is now experiencing an increasingly faster
growth rate because of the low cost of quality homes in the area. The demand for commercial as
well as residential property in Brooklyn Center is high as developers continue to look for the
next best opportunity.
Mr. Boganey thanked the residents who came to tonight’s meeting and expressed his confidence
and excitement regarding development and growth in Brooklyn Center over the next three years.
Councilmember Ryan stated the burden of property taxes falls most heavily on those least able to
pay. He added he is retired, on a fixed income, and does not have a pension, and he is averse to
raising taxes. He added the City is called upon to provide services to its residents, including
community outreach, which is extremely important for communication and community-building.
Mayor Willson thanked the residents who came to the meeting and shared their thoughts and
comments.
4. CITY MANAGER’S BUDGET TRANSMITTAL LETTER FOR 2019 FISCAL
YEAR
Councilmember Lawrence-Anderson moved, and Councilmember Ryan seconded to accept the
City Manager’s Budget Transmittal Letter for 2019 Fiscal Year.
Motion passed unanimously.
5. RESOLUTION NO. 2018-202 APPROVING FINAL TAX CAPACITY LEVIES
FOR THE GENERAL FUND AND DEBT SERVICE FUNDS AND MARKET
VALUE TAX LEVY FOR THE HOUSING AND REDEVELOPMENT
AUTHORITY FOR PROPERTY TAXES PAYABLE IN 2019
Councilmember Ryan moved, and Councilmember Lawrence-Anderson seconded to adopt
RESOLUTION NO. 2018-202 approving Final Tax Capacity Levies for the General Fund and
Debt Service Funds and Market Value Tax Levy for the Housing and Redevelopment Authority
for Property Taxes Payable in 2019.
Motion passed unanimously.
6. RESOLUTION NO. 2018-203 ADOPTING THE 2019 ANNUAL CITY BUDGET
Councilmember Lawrence-Anderson moved, and Councilmember Ryan seconded to adopt
RESOLUTION NO. 2018-203 adopting the 2019 Annual City Budget.
Motion passed unanimously.
12/03/18 -5- DRAFT
7. RESOLUTION NO. 2018-204 APPROVING THE 2019-2033 CAPITAL
IMPROVEMENT PLAN AND ADOPTING THE 2019 CAPITAL PROGRAM
Councilmember Ryan moved, and Councilmember Lawrence-Anderson seconded to adopt
RESOLUTION NO. 2018-204 approving the 2019-2033 Capital Improvement Plan and
Adopting the 2019 Capital Program.
Motion passed unanimously.
8. ADJOURNMENT
Councilmember Lawrence-Anderson moved and Councilmember Ryan seconded to close the
Special Session at 7:57 p.m.
Motion passed unanimously.
! "#
$ %&
'
()
& * ##+(,-'""
.,((!%
""""#"".+##( , ('""" '.%
"""#".",
(,((
./
0",. '+"#'+('"""
%0 #####('"
# ##,"
##('",( !((('""'0#('!. .#,. , '"
(""'00" %(!.## "".'. (# !!
" #$ $%& ! % '
.(/
('"!("%" #"#''", "'/
0" 0/
0 0.,
( ) *+
+ ,
1''$!)"
# (,
23 4 0 +
'0%5
.
- + + & + + +
( &""-- 3 22.+
)( 6635
. //+ 0'1
.
7"
%7"&#
&.( ) ""
)( 6635
.#(8' ((69:8"+4
)( 6635
+";'
%+"1<<="
6>59&
00
)( 6635
" --
% "
2 > &.( )1)!
)( 6635
. //+
"."
%0'-1"25
2 )((+
)( 663>
. //+ 2 -
+0
% "%(+
$!(+
)( 6635
##("--
%##(%?"4.%. ((=
3 &.( ) ""
)( 6635
)((1"--
%0%""&
"
25 (!
)( 6635
$();( #
%(!
266(!+
)( 6635
*0%,';'
*0%,' "
2 $!(+
)( 6635
# (, &
%# (,
23 0 +4
)( 6635
. //+ +
,
+0
% "%(+
$!(+
)( 6635
##("--
%##(%?"4.%. ((=
3 &.( ) ""
)( 6635
)((1"--
%0%""&
"
25 (!
)( 6635
"."
%0'-1"25
2 )((+
)( 663>
$();( #
%(!
266(!+
)( 6635
*0%,';'
*0%,'
2 $!(+
)( 6635
# (, &
%# (,
23 0 +4
)( 6635
. //+ )
)( "
;'
%6 ?" ((
663)((+
)( 663>
+";'
%+"1<<="
6>59&
00
)( 6635
" --
% "
2 > &.( )1)!
)( 6635
3 +
= @ ;' 295 3 +47
-)4665 >
&'.'(-- 96!+
0(6653
& 1
(1(
0%= 23 +
& 1
(66 6
*0%,'
2 0+
& 1
(66 5
*00?7"6> $!(+
)( 6635
+-
&"= #.'"
2 0+
& 1
(66 5
-&";' 2567('0+4
)(1)663>
+
( &""-- 3 22.+4
)( 6635
( &""-- 2
> &.( )1)!
)( 6635
4. (--
%&# !A5>
2>6 )((+
)( 663>
4. (--
%&# !A3 6
> 69.+4
)( 6635
4. (--
%&# !32
26367" +
)( 6635
(%''626:8"+4
)( 6635
7(0;'
&.( )1)!
)( 6635
+ &
&,&'
&%( 00
#(8'(('
COUNCIL ITEM MEMORANDUM
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its convenient
location and commitment to a healthy environment
Rental License Category Criteria Policy – Adopted by City Council 09-10-2018
Property Code and Nuisance Violations Criteria
License Category
(Based on Property
Code Only)
Number of Units Property Code Violations per
Inspected Unit
Type I – 3 Year 1-2 units 0-2
3+ units 0-0.75
Type II – 2 Year 1-2 units Greater than 2 but not more than 5
3+ units Greater than 0.75 but not more than 1.5
Type III – 1 Year 1-2 units Greater than 5 but not more than 9
3+ units Greater than 1.5 but not more than 3
Type IV – 6 Months 1-2 units Greater than 9
3+ units Greater than 3
License
Category
Number of Units Validated Calls for Disorderly Conduct
Service & Part I Crimes
(Calls Per Unit/Year)
No Category
Impact
1-2 0-1
3-4 units 0-0.25
5 or more units 0-0.35
Decrease 1
Category
1-2 Greater than 1 but not more than 3
3-4 units Greater than 0.25 but not more than 1
5 or more units Greater than 0.35 but not more than 0.50
Decrease 2
Categories
1-2 Greater than 3
3-4 units Greater than 1
5 or more units Greater than 0.50
Wƌ
Ž
Ɖ
Ğ
ƌ
ƚ
LJ
Ě
Ě
ƌ
Ğ
Ɛ
Ɛ
ǁ
Ğ
ů
ů
ŝ
Ŷ
Ő
dLJ
Ɖ
Ğ
ZĞ
Ŷ
Ğ
ǁ
Ă
ů
Žƌ
/
Ŷ
ŝ
ƚ
ŝ
Ă
ů
Kǁ
Ŷ
Ğ
ƌ
Wƌ
Ž
Ɖ
Ğ
ƌ
ƚ
LJ
Ž
Ě
Ğ
sŝ
Ž
ů
Ă
ƚ
ŝ
Ž
Ŷ
Ɛ
>ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
dLJ
Ɖ
Ğ
WŽ
ů
ŝ
Đ
Ğ
&
^
Ύ
&ŝ
Ŷ
Ă
ů
>ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
dLJ
Ɖ
Ğ
Ύ
Ύ
Wƌ
Ğ
ǀ
ŝ
Ž
Ƶ
Ɛ
>ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
dLJ
Ɖ
Ğ
Ύ
Ύ
Ύ
ϲϯ
ϯ
ϭ
Ğ
Ă
ƌ
Ě
ǀ
Ğ
E
dŚ
Ğ
ǀ
Ğ
Ŷ
Ƶ
Ğ
Ɖ
ƚ
Ɛ
ϯ
ů
Ě
Ő
ϯϲ
Ƶ
Ŷ
ŝ
ƚ
Ɛ
ZĞ
Ŷ
Ğ
ǁ
Ă
ů
&
/
,
Ž
ů
Ě
ŝ
Ŷ
Ő
>
>
ϭϳ
͘ϰ
ϳ
ͬ
Ƶ
Ŷ
ŝ
ƚ
/
ϰ
ǀ
Ă
ů
ŝ
Ě
͕
ϱ
ͬ
ϭ
ϴ
ͬ
ϭ
ϴ
Ě
ŝ
Ɛ
ƚ
Ƶ
ƌ
ď
ŝ
Ŷ
Ő
ƉĞ
Ă
Đ
Ğ
͕
ϵ
ͬ
ϲ
ͬ
ϭ
ϴ
ƚ
Ś
Ğ
Ĩ
ƚ
Ĩ
ƌ
Ž
ŵ
ĂƵ
ƚ
Ž
͕
ϵ
ͬ
ϭ
ϴ
ͬ
ϭ
ϴ
Ě
ŝ
Ɛ
ƚ
Ƶ
ƌ
ď
ŝ
Ŷ
Ő
ƉĞ
Ă
Đ
Ğ
͕
ϭ
ϭ
ͬ
ϰ
ͬ
ϭ
ϴ
Ě
ŝ
Ɛ
ƚ
Ƶ
ƌ
ď
ŝ
Ŷ
Ő
ƉĞ
Ă
Đ
Ğ
ϰϮ
Ϭ
ϰ
>
Ă
Ŭ
Ğ
ď
ƌ
Ğ
Ğ
nj
Ğ
ǀ
Ğ
ϭ
ů
Ě
Ő
ϰ
Ƶ
Ŷ
ŝ
ƚ
Ɛ
ZĞ
Ŷ
Ğ
ǁ
Ă
ů
d
Ž
Ě
Ě
Ğ
ƌ
ƚ
ů
Ğ
Ɛ
Ž
Ŷ
ͬ
W
W
ϯ
>
>
ϭϮ
ϯͬ
Ƶ
Ŷ
ŝ
ƚ
//
/
Ϭ
/
/
/
/
/
/
ϱϯ
Ϭ
ϭ
Z
Ƶ
Ɛ
Ɛ
Ğ
ů
ů
ǀ
Ğ
E
Ϯ
ů
Ě
Ő
ϯϲ
Ƶ
Ŷ
ŝ
ƚ
Ɛ
ZĞ
Ŷ
Ğ
ǁ
Ă
ů
E
Ğ
Ě
nj
Ă
Ě
Ğ
ƌ
ŝ
Đ
ϯϬ
ϱ
ϴ͘
ϰ
ϳ
ͬ
Ƶ
Ŷ
ŝ
ƚ
/s
ϲͬ
ϭ
ϴ
ͬ
ϭ
ϴ
ƚŚ
Ğ
Ĩ
ƚ
/s
/
s
ϲϮ
Ϯ
ϭ
^
Ś
ŝ
Ŷ
Ő
ů
Ğ
ƌ
Ğ
Ğ
Ŭ
W
Ŭ
ǁ
LJ
ƌ
Ğ
Ɛ
ƚ
Ɖ
Ă
ƌ
ƚ
ŵ
Ğ
Ŷ
ƚ
Ɛ
ϭ
ů
Ě
Ő
ϭϮ
Ϯ
Ƶ
Ŷ
ŝ
ƚ
Ɛ
ZĞ
Ŷ
Ğ
ǁ
Ă
ů
^
ƚ
Ğ
ǀ
Ğ
Ŷ
W
ů
Ž
ƚ
nj
ϳϮ
͘ϱ
ϵ
ͬ
Ƶ
Ŷ
ŝ
ƚ
/
ϭϮ
͘Ϭ
ϵ
ͬ
Ƶ
Ŷ
ŝ
ƚ
//
Ϯϭ
ϭ
ϯ
ϱ
ϱ
ƚ
Ś
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
/
Ŷ
ǀ
ŝ
ƚ
Ă
ƚ
ŝ
Ž
Ŷ
,
Ž
ŵ
Ğ
Ɛ
ϭ
/
Ϭ
/
/
/
/
ϯϴ
ϭ
ϴ
ϲ
ϭ
Ɛ
ƚ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
^
Ś
Ğ
ƌ
ŵ
Ă
Ŷ
z
ŝ
Ś
&
Ğ
Ŷ
Ő
<
Ś
Ž
ϲ
/
/
/
Ϭ
/
/
/
//
/
ϯϬ
Ϭ
Ϭ
ϲ
Ϯ
Ŷ
Ě
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ă
Ŷ
^
Ž
Ĩ
Ĩ
Ă
Ϭ
/
Ϭ
/
/
s
ϯϮ
ϭ
ϴ
ϲ
ϯ
ƌ
Ě
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
D
LJ
d
ƌ
Ƶ
Ž
Ŷ
Ő
ϰ
/
/
Ϭ
/
/
/
s
ϭϰ
Ϭ
ϭ
ϳ
Ϯ
Ŷ
Ě
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ś
Ă
Ě
d
Ğ
Ɛ
Ɛ
ŵ
Ğ
ƌ
ϭ
/
Ϭ
/
/
/
ϱϮ
Ϭ
ϳ
Ž
Ƶ
ů
Ě
Ğ
ƌ
>
Ŷ
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Z
Ž
Ɛ
Ɛ
,
Ğ
ƌ
ŵ
Ă
Ŷ
ϴ
/
/
/
Ϭ
/
/
/
/
s
ϲϱ
Ϭ
ϭ
ƌ
Ž
Ž
Ŭ
ů
LJ
Ŷ
ƌ
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ă
ǁ
Ŷ
D
͘
ƌ
Ă
LJ
Ă
Ϯ
/
Ϭ
/
/
s
ϮϬ
Ϯ
ϯ
ƌ
Ž
Ž
Ŭ
ǀ
ŝ
Ğ
ǁ
ƌ
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
&
z
Z
^
&
Z
K
Z
Z
K
t
Z
>
>
ϭ
/
Ϭ
/
/
//
ϱϬ
Ϯ
ϱ
ƌ
Ğ
ǁ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Z
LJ
Ă
Ŷ
W
Ă
ƌ
ƚ
Ŷ
Ğ
ƌ
Ɛ
͕
>
>
ͬ
Z
LJ
Ă
Ŷ
^
Đ
Ś
ŵ
ŝĚ
ƚ
ϭ
Ϭ
/
s
Ϭ
/
s
/
s
ϱϬ
Ϯ
ϱ
ƌ
Ğ
ǁ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Z
LJ
Ă
Ŷ
W
Ă
ƌ
ƚ
Ŷ
Ğ
ƌ
Ɛ
͕
>
>
ͬ
Z
LJ
Ă
Ŷ
^
Đ
Ś
ŵ
ŝĚ
ƚ
ϴ
/
/
/
Ϭ
/
/
/
/
/
/
ϱϰ
ϯ
Ϯ
Ƶ
Ɖ
Ž
Ŷ
ƚ
ǀ
Ğ
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
y
ŝ
Ă
Ŷ
Ő
ŵ
ŝ
Ŷ
Ő
'
Ƶ
Ă
Ŷ
Ϯ
ϳ
/
s
Ϭ
/
s
/
s
ϱϰ
ϱ
ϱ
ŵ
Ğ
ƌ
Ɛ
Ž
Ŷ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
ů
ď
ƌ
Ƶ
Ɛ
D
Ă
Ŷ
Ă
Ő
Ğ
ŵ
Ğ
Ŷ
ƚ
ϭ
Ϭ
/
s
Ϭ
/
s
/
s
ϱϴ
ϭ
ϰ
ǁ
ŝ
Ŷ
Ő
ǀ
Ğ
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
D
ŝ
Đ
Ś
Ğ
ů
Ğ
E
LJ
Ă
ƌ
Ğ
Đ
Ś
Ă
ϭ
/
Ϭ
/
/
ϲϳ
ϯ
ϰ
&
ƌ
Ă
Ŷ
Đ
Ğ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
ů
Ğ
dž
Ă
Ŷ
Ě
Ğ
ƌ
>
Ă
Ŷ
Ő
Ϯ
/
Ϭ
/
/
/
ϲϵ
ϭ
ϵ
&
ƌ
Ă
Ŷ
Đ
Ğ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ğ
Ŷ
ũ
Ă
ŵ
ŝ
Ŷ
,
Ğ
ƌ
ŵ
Ă
Ŷ
ƚ
ŝ
Ŷ
ϯ
/
/
Ϭ
/
/
/
s
ϲϴ
Ϭ
Ϭ
&
ƌ
Ğ
ŵ
Ž
Ŷ
ƚ
W
ů
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
^
Ś
Ă
ƌ
Ž
Ŷ
D
Đ
'
Ă
ƌ
LJ
ϱ
/
/
Ϭ
/
/
/
/
ϲϴ
Ϯ
Ϭ
&
ƌ
Ğ
ŵ
Ž
Ŷ
ƚ
W
ů
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
^
Ś
Ă
ƌ
Ž
Ŷ
D
Đ
'
Ă
ƌ
LJ
ϯ
/
/
/
Ϭ
/
/
/
/
/
ϱϰ
ϭ
Ϭ
'
ŝ
ƌ
Ă
ƌ
Ě
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ž
Ƶ
Ő
ů
Ă
Ɛ
ů
ů
Ğ
Ŷ
t
Ă
Ś
ů
Ϯ
/
Ϭ
/
/
s
ϱϯ
ϱ
ϭ
/
ƌ
ǀ
ŝ
Ŷ
Ő
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ž
Ƶ
Ő
ů
Ă
Ɛ
ů
ů
Ğ
Ŷ
t
Ă
Ś
ů
Ϯ
/
Ϭ
/
/
s
ϲϰ
ϭ
ϯ
:
Ƶ
Ŷ
Ğ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ž
Ƶ
Ő
ů
Ă
Ɛ
ů
ů
Ğ
Ŷ
t
Ă
Ś
ů
ϰ
/
/
Ϭ
/
/
/
s
ϰϮ
Ϭ
ϳ
>
Ă
Ŭ
Ğ
Ɛ
ŝ
Ě
Ğ
ǀ
Ğ
η
ϯ
Ϯ
ϳ
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Z
Ă
Đ
Ś
Ğ
ů
W
Ğ
ƚ
nj
Ϭ
/
Ϭ
/
/
ϲϯ
ϯ
Ϭ
K
ƌ
Đ
Ś
Ă
ƌ
Ě
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
D
Ă
ƌ
Ŭ
<
Ž
Ś
ů
Ɛ
Ϭ
/
Ϭ
/
/
/
ZĞ
Ŷ
ƚ
Ă
ů
>
ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
Ɛ
Ĩ
Ž
ƌ
Ž
Ƶ
Ŷ
Đ
ŝ
ů
Ɖ
Ɖ
ƌ
Ž
ǀ
Ă
ů
Ž
Ŷ
Ğ
Đ
Ğ
ŵ
ď
Ğ
ƌ
ϭ
Ϭ
͕
Ϯ
Ϭ
ϭ
ϴ
Wƌ
Ž
Ɖ
Ğ
ƌ
ƚ
LJ
Ě
Ě
ƌ
Ğ
Ɛ
Ɛ
ǁ
Ğ
ů
ů
ŝ
Ŷ
Ő
dLJ
Ɖ
Ğ
ZĞ
Ŷ
Ğ
ǁ
Ă
ů
Žƌ
/
Ŷ
ŝ
ƚ
ŝ
Ă
ů
Kǁ
Ŷ
Ğ
ƌ
Wƌ
Ž
Ɖ
Ğ
ƌ
ƚ
LJ
Ž
Ě
Ğ
sŝ
Ž
ů
Ă
ƚ
ŝ
Ž
Ŷ
Ɛ
>ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
dLJ
Ɖ
Ğ
WŽ
ů
ŝ
Đ
Ğ
&
^
Ύ
&ŝ
Ŷ
Ă
ů
>ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
dLJ
Ɖ
Ğ
Ύ
Ύ
Wƌ
Ğ
ǀ
ŝ
Ž
Ƶ
Ɛ
>ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
dLJ
Ɖ
Ğ
Ύ
Ύ
Ύ
ZĞ
Ŷ
ƚ
Ă
ů
>
ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
Ɛ
Ĩ
Ž
ƌ
Ž
Ƶ
Ŷ
Đ
ŝ
ů
Ɖ
Ɖ
ƌ
Ž
ǀ
Ă
ů
Ž
Ŷ
Ğ
Đ
Ğ
ŵ
ď
Ğ
ƌ
ϭ
Ϭ
͕
Ϯ
Ϭ
ϭ
ϴ
ϲϵ
Ϭ
ϴ
h
Ŷ
ŝ
ƚ
LJ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
y
ŝ
Ŷ
Ő
Ĩ
Ƶ
Ś
Ğ
Ŷ
ϳ
/
/
/
Ϭ
/
/
/
/
/
ϳϭ
ϲ
ϵ
h
Ŷ
ŝ
ƚ
LJ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
^
Ž
LJ
Ğ
Ś
Ă
ů
ƚ
Ğ
ϭ
/
Ϭ
/
/
ϱϵ
Ϯ
ϱ
t
Ă
Ɛ
Ś
ď
Ƶ
ƌ
Ŷ
ǀ
Ğ
E
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ś
Ğ
Ŷ
Ő
>
Ž
ƌ
Ϯ
/
Ϭ
/
/
/
/
ϰϰ
ϭ
ϵ
t
ŝ
Ŷ
Đ
Ś
Ğ
Ɛ
ƚ
Ğ
ƌ
>
Ă
^
ŝ
Ŷ
Ő
ů
Ğ
&
Ă
ŵ
ŝ
ů
LJ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
Ă
Ɛ
ƚ
Ž
Ŷ
,
Ž
ŵ
Ğ
Ɛ
>
>
Ϯ
/
Ϭ
/
/
/
Ύ
&
^
с
Ă
ů
ů
Ɛ
&
Ž
ƌ
^
Ğ
ƌ
ǀ
ŝ
Đ
Ğ
Ĩ
Ž
ƌ
Z
Ğ
Ŷ
Ğ
ǁ
Ă
ů
>
ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
Ɛ
K
Ŷ
ů
LJ
;
/
Ŷ
ŝ
ƚ
ŝ
Ă
ů
>
ŝ
ĐĞ
Ŷ
Ɛ
Ğ
Ɛ
Ă
ƌ
Ğ
Ŷ
Ž
ƚ
Ă
Ɖ
Ɖ
ů
ŝ
Đ
Ă
ď
ů
Ğ
ƚ
Ž
Đ
Ă
ů
ů
Ɛ
Ĩ
Ž
ƌ
Ɛ
Ğ
ƌ
ǀ
ŝ
Đ
Ğ
Ă
Ŷ
Ě
ǁ
ŝ
ů
ů
ď
Ğ
ů
ŝ
Ɛ
ƚ
ĞĚ
E
ͬ
͘
Ϳ
ΎΎ
>
ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
d
LJ
Ɖ
Ğ
Ğ
ŝ
Ŷ
Ő
/
Ɛ
Ɛ
Ƶ
Ğ
Ě
d
LJ
Ɖ
Ğ
ϭ
с
ϯ
z
Ğ
Ă
ƌ
d
LJ
Ɖ
Ğ
/
/
с
Ϯ
z
Ğ
Ă
ƌ
d
LJ
Ɖ
Ğ
/
/
/
с
ϭ
z
Ğ
Ă
ƌ
ΎΎ
Ύ
/
Ŷ
ŝ
ƚ
ŝ
Ă
ů
ů
ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
Ɛ
ǁ
ŝ
ů
ů
Ŷ
Ž
ƚ
Ɛ
Ś
Ž
ǁ
Ă
Ɖ
ƌ
Ğ
ǀ
ŝ
Ž
Ƶ
Ɛ
ů
ŝ
Đ
Ğ
Ŷ
Ɛ
Ğ
ƚ
LJ
Ɖ
Ğ
ů
ů
Ɖ
ƌ
Ž
Ɖ
Ğ
ƌ
ƚ
ŝ
Ğ
Ɛ
Ă
ƌ
Ğ
Đ
Ƶ
ƌ
ƌ
Ğ
Ŷ
ƚ
Ž
Ŷ
ŝ
ƚ
LJ
Ƶ
ƚ
ŝ
ů
ŝ
ƚ
ŝ
Ğ
Ɛ
Ă
Ŷ
Ě
Ɖ
ƌ
Ž
Ɖ
Ğ
ƌ
ƚ
LJ
ƚ
Ă
dž
Ğ
Ɛ
! "#
$ %&
'
()
& * +
'(&',
(
((,
'(-"',
("".,
#'- ', ",
'(-
. +
/
!
#(0'(('
12-10-18
2019 City Council Meeting Schedule
Regular City Council Meetings
Council Chambers
City Hall
Study/Work Session 6:00 p.m.
Informal Open Forum 6:45 p.m.
Regular Session 7:00 p.m.
Work Session immediately following
(Continued) Regular Session
Brooklyn Center City Council regularly meets the 2nd
and 4th Monday each month, unless Monday is a
holiday.
January 14
January 28
February 11
February 25
March 11
M a r c h 2 5
A p r i l 8
A p r i l 2 2
May 13
M a y 2 8 ( T u e s d a y )
June 10
June 24
J u l y 8
July 22
August 12
August 26
September 9
September 23
October 14
O c t o b e r 2 8
November 12 (Tuesday)
November 25
December 9
All dates are subject to change.
Call City Hall at 763-569-3300 to verify dates and times.
Strikethrough indicates meeting has been CANCELED.
Special City Council Meetings
All dates are Monday unless otherwise noted
April 3 (Wednesday) 6:00 p.m.
Joint Session w/Commissions CH
April 15 7:00 p.m.
Board of Appeal & Equalization CC
April 29 6:00 p.m.
Board of Appeal & Equalization Reconvene CC
June 3 6:30 p.m.
Work Session w/Auditor and Budget Work Session
w/Financial Commission CC
July 17 6:30 p.m.
Work Session w/Financial Commission CC
July 29 6:30 p.m.
Work Session Work Session w/Financial Commission CC
August 7 6:30 p.m.
Work Session Work Session w/Financial Commission CC
August 19 6:30 p.m.
Work Session Work Session w/Financial Commission CC
September 16 6:30 p.m.
Work Session Work Session w/Financial Commission CC
October 7 6:30 p.m.
Work Session Work Session w/Financial Commission CC
October 21 6:30 p.m.
Work Session Work Session w/Financial Commission CC
December 2 6:30 p.m.
2020 Budget Hearing and Special Meeting CC
AA – All America Conference Room located in lower level
City Hall
CC – Council Chambers located in upper level City Hall
CH – Constitution Hall located at Community Center
CR – Council/Commission Conference Room located in
lower level City Hall
EBHC – Earle Brown Heritage Center, 6155 Earle Brown Drive
! !" ##
$ % &'
"()")&! #'*'#&$#+!,'
#' "+*'#&
$++!&-."! /& #')*'#&0 $#'&
(""0
#'
#0
12!('#(-"&
"'&+
&""0')&"0&
#
"0&&
#
(##&""0))(##&2
!"0-.(+)"0$"""*/&'"
(!
0"&&
#.&
"!! /&"0('#.&3')""
""24& &
' # "() &++ !&
(+)"!
!-.+!"0&#+! /& #')*'#&#)(".!
! /&"0('#&"#)("&*###))"&(-""0! -)
# ++#&&$++(("-&"('#.!#!.&+
!-."")"+"0
$(&"5#2! /& &#'"-&2
#!" & ! "'" ('# .! "'& &,!
! " ""&
"'" " &'
"( ! ((&" -&& ! #' ) *'#& 0 $# +
#'
#&"2
!()06#-+!('#&&0'&!#"&+!
&+"0"#('#&!
))7! 8&"0&-#"&&
##&&!!#"!+#'#))
"
)+
''"#)('+#'"&#'&
"(2! /&0('#&#)(+!
-.(+)"0#&.!-'
! /&0"&2#)('"0('##
'"
#0
!!0".!#!.
'"
"#&!(#! (&+&+
"0&&
#&
!
$+$#
$0' ))
0 H P E H U L Q W URGXFHG WKH IROORZLQJ UHVROXWLRQ DQG
PRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21$'237,1*$0(1'0(176727+(),1$1&,$/32/,&,(6
6(&7,212)7+(%522./<1&(17(5&,7<&281&,/&2'(2)32/,&,(6
:+(5($6WKH&LW\&RXQFLORIWKH&LW\RI%URRNO\Q&HQWHUDGRSWHGD6FKHGXOH
IRU3URIHVVLRQDO6HUYLFHV3ROLFLHVRQ2FWREHULQFOXGHGLQWKH&LW\&RXQFLO&RGHRI
3ROLFLHV DQG
:+(5($6UHYLVLRQVWR6HFWLRQ)LQDQFLDO0DQDJHPHQW3ROLFLHV6HFWLRQ&
'HEW3ROLFLHVKDYHEHHQUHYLHZHGE\WKH&LW\&RXQFLO
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\ RI
%URRNO\Q &HQWHU 0LQQHVRWD WKDW WKH DPHQGHG 6HFWLRQ )LQDQFLDO 0DQDJHPHQW 3ROLFLHV
6HFWLRQ& 'HEW3ROLFLHVDWWDFKHGKHUHWRDV([KLELWEHLQFRUSRUDWHGLQWRWKH&RGHRI3ROLFLHV
DQGKHUHE\DGRSWHG
'HFHPEHU
' D W H 0 D \ R U
$77(67
& L W \ & O H U N
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
& 'HEW3ROLFLHV
7KH &LW\ ZLOO FRQILQH ORQJWHUP ERUURZLQJ WR FDSLWDO
LPSURYHPHQWVRUSURMHFWVZKLFKFDQQRWEHILQDQFHGIURPFXUUHQW
UHYHQXHV
:KHQWKH&LW\ILQDQFHVFDSLWDOSURMHFWVE\LVVXLQJERQGVLWZLOO
SD\EDFNWKHERQGVZLWKLQDSHULRGQRWWRH[FHHGWKHH[SHFWHG
XVHIXOOLIHRIWKHSURMHFW
2QDOOSURMHFWVDWOHDVWRIWKHSULQFLSDOVKDOOEHUHWLUHGZLWKLQ
WHQ\HDUV7KH&LW\¶VJRDOLVWRDPRUWL]HRIRXWVWDQGLQJGHEW
ZLWKLQ\HDUV KRZHYHULQQRFDVHVKDOOWKH&LW\DPRUWL]HOHVV
WKDQRIRXWVWDQGLQJGHEWZLWKLQ\HDUV
6WDWH ODZ OLPLWV JHQHUDO REOLJDWLRQ GHEW WR \HDUV LQ PRVW
FLUFXPVWDQFHV7KH&LW\ZLOODWWHPSWWRNHHSWKHDYHUDJHVWDWHG
PDWXULW\RI*HQHUDO2EOLJDWLRQ%RQGVDWRUEHORZ\HDUV
7RWDOGHEWVHUYLFHIRU*HQHUDO2EOLJDWLRQGHEWZLOOQRWH[FHHGILYH
SHUFHQWRIWRWDODQQXDOORFDOO\JHQHUDWHGRSHUDWLQJUHYHQXHLQWKH
JHQHUDOVSHFLDOUHYHQXHDQGSURSULHWDU\IXQGV
7RWDO*HQHUDO2EOLJDWLRQGHEWZLOOQRWH[FHHGWZRSHUFHQWRIWKH
PDUNHWYDOXDWLRQRIWD[DEOHSURSHUW\ZLOOQRWH[FHHGWKHVWDWXWRU\
OLPLWRIRIWKHHVWLPDWHG0DUNHW9DOXHRIWD[DEOHSURSHUW\LQ
WKH&LW\DVUHTXLUHGE\0LQQHVRWD6WDWXWH6HFWLRQ
:KHUHSRVVLEOHWKH&LW\ZLOOXVHVSHFLDODVVHVVPHQWUHYHQXHRU
RWKHUVHOIVXSSRUWLQJERQGVLQVWHDGRI*HQHUDO2EOLJDWLRQ%RQGV
UHSDLGZLWKDSURSHUW\WD[OHY\
7KH&LW\ZLOOQRWLQFXUGHEWWRVXSSRUWFXUUHQWRSHUDWLRQV
7KH &LW\ ZLOO PDLQWDLQ JRRG FRPPXQLFDWLRQV ZLWK ERQG UDWLQJ
DJHQFLHVUHJDUGLQJLWVILQDQFLDOFRQGLWLRQ7KH&LW\ZLOOIROORZD
SROLF\ RI IXOO GLVFORVXUH LQ HYHU\ ILQDQFLDO UHSRUW DQG ERQG
SURVSHFWXV7KH&LW\VKDOOFRPSO\ZLWK6(&UXOH RQ
SULPDU\DQGFRQWLQXLQJGLVFORVXUH&RQWLQXLQJGLVFORVXUHUHSRUWV
VKDOOEHILOHGQRODWHUWKDQGD\VDIWHUWKHHQGRIWKHILVFDO\HDU
'LUHFWQHWGHEW JURVVGHEWOHVVGHEWIXOO\VXSSRUWHGE\UHYHQXHV
SHUFDSLWDVKDOOQRWH[FHHGSHUFDSLWD7RWDOJRYHUQPHQWDO
IXQGGHEWVHUYLFHFDQQRWH[FHHGRIWKH&LW\¶VJRYHUQPHQWDO
IXQGH[SHQGLWXUHV
7KH&LW\ZLOOUHTXLUH0LQLPXP$VVHVVPHQW 7D[DEOH9DOXDWLRQ
$JUHHPHQWV RQ DOO SURMHFWV LQ ZKLFK WKH &LW\ LV SURYLGLQJ
GHYHORSPHQW DVVLVWDQFH WKURXJK WD[ LQFUHPHQW ILQDQFLQJ RU
FRPPLWWLQJLWVERQGLQJDXWKRULW\7KLVZLOOHQVXUHPLQLPDOFDVK
IORZ LQFUHPHQW WR UHSD\ REOLJDWLRQV SURYLGH DQRWKHU OHYHO RI
UHYLHZ EHIRUH FRPPLWPHQW E\ WKH &LW\ $VVHVVRU DQG WR WKH
PLQLPDO YDOXH DJUHHG XSRQ HOLPLQDWH WD[ DSSHDOV GXULQJ WKH
DJUHHPHQWSHULRG
7KH&LW\VKDOOXVHYDULDEOHUDWHGHEWRQO\LIWRWDOSULQFLSDODQG
LQWHUHVWRIWKHGHEWFRQVWLWXWHVOHVVWKDQRIWKH&LW\¶VWRWDO
GHEW SD\PHQWV DQG RQO\ LI FLUFXPVWDQFHV GLFWDWH WKH QHHG IRU D
VKRUWWHUPFDOOGDWH7KH&LW\ZLOOQRWXVHGHULYDWLYHEDVHGGHEW
7KH &LW\ VKDOO XVH DQ RXWVLGH ERQG DWWRUQH\ DQ LQGHSHQGHQW
PXQLFLSDODGYLVRUWRVWUXFWXUHWKHVDOHRIGHEWDQGDSD\LQJDJHQW
IRUERRNHQWU\WUDQVDFWLRQV
7KH&LW\VKDOOLQYHVWERQGSURFHHGVLQDVHSDUDWHDFFRXQWLQRUGHU
WRDFFRXQWIRUHDUQLQJVRQLQYHVWHGSURFHHGVIRUWKHSXUSRVHVRI
FRPSO\LQJZLWKDUELWUDJHUHJXODWLRQV7KH&LW\VKDOOFRPSOHWHDQG
DUELWUDJHUHEDWHUHSRUWIRUHDFKLVVXHQROHVVWKDQHYHU\ILYH\HDUV
DIWHULWVGDWHRILVVXDQFH
! !" ##
$ % &'
#$(( #'&&( )* '(
& +,'
$-#' +
"
#",&" )*&(((! (*' !&"&#
&&"!---
#'&&(#(! )* '(
&&'&&-&&-&(
""
)
",&--( ./
! 0&
"'#" '&&(#1'#2
#' "(1'#&$#/34"(&
-&(
"&&-,&-+"")! 5!#!!5+
&(-&"
#-',#/! )*(
"!&#+" '
"&(&"#&!'"(, 6
!
! 7'8736 (+(86776 -/!+-+
(!(
"
+!-"5&89 /:')'+! )* '(
&&#
(,5'')
)'";
+
&)&'(<&
((#/
:)'+!---&(!&#+&& +,'$-#' +
(
"5!#!
&"
##
("-!-#"&(&-#(#+
&
#&!&#"#,,"
=-"
(&-#("-
-&&!!")&+##-'->#&/
: 5'' #
)
" ( !& (
" ! &, & 5 !+ ! -& !& ' #!& ! (
"&
#'&&(#"-&/
!
$($#
$)' ,,
0 H P E H U L Q W URGXFHG WKH IROORZLQJ UHVROXWLRQ DQG
PRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21 ',5(&7,1* 67$)) 72 5(&/$66,)< &(17(5%522.
*2/)&2856(72$*29(510(17$/63(&,$/5(9(18()81'
:+(5($6&HQWHUEURRN*ROI&RXUVHLVFXUUHQWO\DQG(QWHUSULVHIXQG DQG
:+(5($67KH&LW\¶V)LQDQFLDO3ROLFLHVGLFWDWHWKDW(QWHUSULVHIXQGVFKDUJH
VXIILFLHQWXVHUIHHVWRIXQGRSHUDWLRQVDQGFDSLWDOPDLQWHQDQFH DQG
:+(5($6&DVKVXEVLGLHVIURPWKH&LW\¶V*HQHUDOIXQGDYHUDJLQJSHU
\HDUIURPWRKDYHEHHQUHTXLUHGWRPDLQWDLQSRVLWLYHFDVKEDODQFHLQWKH&HQWHUEURRN
*ROI&RXUVHIXQG DQG
:+(5($6&HQWHUEURRN*ROI&RXUVHZRXOGEHPRUHDSSURSULDWHO\UHSRUWHGDVD
6SHFLDO5HYHQXHIXQG
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\ RI
%URRNO\Q&HQWHU0LQQHVRWDWKDWWKH&HQWHUEURRN*ROI&RXUVHIXQGLVQRZD6SHFLDO5HYHQXH
)XQGDQGJLYHVVWDIIGLUHFWLRQWRSURFHHGZLWKWKHUHFODVVLILFDWLRQ
1RYHPEHU
' D W H 0 D \ R U
$77(67
& L W \ & O H U N
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
! !" ##
$ % &'
(! )*+
""(#,-! ,. '+
&
"" /'*)/()&
"
*000! /'*)/()&
""(#"1 2 ! ,. '+
&+
"/
+)/()&!#
&3 ,.-&/!"(#&'')&+12 /3
,.)"/)&'1242,- " 5,
!&!"(','#&!).
/)!/&&3
!&)! '+
"!&,
).&
,&"/)&)/&(#&!,'#!
,. '+
&+
"3!&&+&'"1640 (!/"-!""'104
&
/&+
",-3
$++&#))"!&"(#,+(&&
'.'! ,. '+
&-'',,'
&
++#&
#&
&"+'+
"&
,&"&/! /'*)/()&+
"3
!&//&"+(&&-'' ') ! +
" ,'# +1407
,-! ,. '+
&+
"" /'*)/()&+
"3
!
$+$#
$,' ))
0 H P E H U L Q W URGXFHG WKH IROORZLQJ UHVROXWLRQ DQG
PRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21 72 )25*,9( %$/$1&( 2) ,17(5)81' $'9$1&(
0$'( ,1 )520 &$3,7$/ ,03529(0(176 )81' 72
&(17(5%522.*2/)&2856(
:+(5($6LQ WKH&DSLWDO,PSURYHPHQWV)XQGDGYDQFHGWRWKH
&HQWHUEURRN*ROI&RXUVHIXQGIRUFRXUVHLPSURYHPHQWVWREHUHSDLGRYHU\HDUVDWLQWHUHVW
DQG
:+(5($6 WKH &HQWHUEURRN *ROI &RXUVH KDV EHHQ XQDEOH WR PDNH DQ\
SD\PHQWVRQWKHDGYDQFHGXHWRGHILFLWFDVKEDODQFHVGDWLQJEDFNWR DQG
:+(5($6WKH\HDUHQGDXGLWHGEDODQFHRIWKHDGYDQFHZDV DQG
:+(5($6LWLVQRORQJHUH[SHFWHGWKDWWKH&HQWHUEURRN*ROI&RXUVHZLOOEH
DEOHWRJHQHUDWHVXIILFLHQWIXQGVWRUHSD\WKHDGYDQFH
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\ RI
%URRNO\Q&HQWHU0LQQHVRWDWKDWWKHLQWHUIXQGDGYDQFHIURPWKH&DSLWDO,PSURYHPHQWV)XQGWR
WKH&HQWHUEURRN*ROI&RXUVHIXQGEHIRUJLYHQ
1RYHPEHUHU
' D W H 0 D \ R U
$77(67
& L W \ & O H U N
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
!"#$%"
& "'!#
!" !%(
)*%
( + %!
))* ' ,-."")#$ /0,,
'1
&! 0 2"-. 3456/(-. ' !,#7!!
80)*0%
!"!#$% !&
'( )
' 3 )!80)*0 09 8 :,/,'' !/6/(-."!
,
/!
%'%%07 ;*!*%"'"$*!*%,, //!7!!),!""!"!%.8
,,7'')2"7% ,'7/
!%'"!
,,',// ,%/)
0)%,
,)
0)). -*0 < 3'
"!7,,""%"'"!
(!
%8"./# $-/' % ,)!
%!%,5/=<>>?@.
%"'"!(!
%8".'%%
""%%/
!!"0)!,'7$,%A
%/!)0/
')2".'7%"',')2"/=5
/"%/'0" )%%
)
0)%
",%"'))%,,,!77!!"!,,%)%!/"!!",, %.
'!""0
7'%"'"!(!
%8"./'6/(-.
' !,#7!!80)*0%7%=<>>?@.'!*!
/7$"/,//!)0
"!
, ' ,-.%=55<@.'!)2""%"!
,
""%,0%!!%=5
<>5.
5,7%"0)!,.<)"
,
,
'0
/=53.@.'"',%!
)*,%%
00/'/!0,,"%%,/
,
%
"%/')2".
!
'", 00
80
0 H P E H U L Q W URGXFHG WKH IROORZLQJ UHVROXWLRQ DQG
PRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21$33529,1*&+$1*(25'(512$&&(37,1*:25.
3(5)250(' $1' $87+25,=,1* ),1$/ 3$<0(17 352-(&7 12
/,)7 67$7,21 12 5(+$%,/,7$7,21 $1' :(7:(//
,03529(0(176
:+(5($6 SXUVXDQW WR ZULWWHQ FRQWUDFWV VLJQHG ZLWK WKH &LW\ RI%URRNO\Q
&HQWHU 0LQQHVRWD 0LQQHVRWD 0HFKDQLFDO &RQWUDFWRUV ,QF RI :DLWH 3DUN 0LQQHVRWD KDV
FRPSOHWHGWKHIROORZLQJLPSURYHPHQWVLQDFFRUGDQFHZLWKVDLGFRQWUDFW
3URMHFW1R/LIW6WDWLRQ1R5HKDELOLWDWLRQDQG:HWZHOO,PSURYHPHQWV
:+(5($60LQQHVRWD0HFKDQLFDO&RQWUDFWRUV,QFZHUHLQVWUXFWHGWRFRPSOHWH
DGGLWLRQDOZRUNQRWLQFOXGHGLQWKHRULJLQDO&RQWUDFWEXWZDVGHHPHG QHFHVVDU\WRSURSHUO\
FRPSOHWH WKH LPSURYHPHQWV LQFOXGLQJ DQ LQFUHDVH RI WKH HPHUJHQF\ E\SDVV SXPS VXFWLRQ
GLVFKDUJHSLSHVDQGDGGLWLRQDOZHWZHOOFOHDQLQJDQGGLVSRVDORIFROOHFWHGGHEULVDVLGHQWLILHGRQ
&KDQJH2UGHU1R
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHU0LQQHVRWDWKDW
&KDQJH2UGHU1RLQWKHDPRXQWRIIRU,PSURYHPHQW1R
LVKHUHE\DSSURYHG
)LQDOSD\PHQWVKDOOEHPDGHRQ3URMHFW1R/LIW6WDWLRQ1R
5HKDELOLWDWLRQDQG:HWZHOO,PSURYHPHQWVWDNLQJWKHFRQWUDFWRU¶VUHFHLSW
LQ IXOO 7KH WRWDO DPRXQW WREHSDLG IRU VDLG LPSURYHPHQWV XQGHU VDLG
FRQWUDFWVVKDOOEH
7KHHVWLPDWHGSURMHFWFRVWVDUHKHUHE\DPHQGHGDVIROORZV
&2676 $V2ULJLQDO$ZDUG $V)LQDO
&RQVWUXFWLRQ&RQWUDFW
&KDQJH2UGHU1R
(QJLQHHULQJDQG$GPLQLVWUDWLYH
&RQWLQJHQF\
727$/
5(9(18(6 $V2ULJLQDO$ZDUG $V)LQDO
6DQLWDU\6HZHU8WLOLW\
5(62/87,2112BBBBBBBBBBBBBBB
'HFHPEHU
' D W H 0 D \ R U
$77(67
& L W \ & O H U N
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
!"# $
% ""
&&&'( )$!"# *#$"&
* + &"
##!) $)*!$&,-. ) " '
.#" &
)
!"#&). #
&&&/
!
. #
&&&/ #',.#" &
)
!"#&
0 1#!'&'$22$.$"&&&$&!$&"$"#
&'& ""
,
&&&&3.&!$&$"
',
&&&'&$#"'!"# '$
$&
#")$"&&&& ')"&#$&&"&!$&3 #
&&&'!&&"&&&&
#
&'),-'&'$$&&)$#&.,& .
4
'&3
. #
&&&/ $
"#&-.5$
&'6$&-..- &
#"3. #
&&&# .&,#!'&!$& " &$
3 #
&&&'!&&#!',
&&&'"'$&
"&,2 .",&&
" ""3## &#)',
-" 2&-"$ # 3
% +
.
.7! ,
#
&&&'!&&&&&'#
& "
'#!''##8 "9:.
&)'$$.$"&&&$32'#.&
).
#
&&&# ) " -"",#!''.
$""%,
63
.$
$$,-. ) " ' ). #
&&&#
8#&.')
3.##&'-$$-"".!;2
.
..')
-.
"$&)< 3. ) " .&
"$&)<= ).#
'. <= &$!',.#
& '!"#
.3
.
"<= $&). #
&&&# -"",)
'',.$ $!"#
.) " >&#)&&"&!$&$$
3
!
&'$ $*,"
Member introduced the following resolution and
moved its adoption:
RESOLUTION NO.
RESOLUTION APPROVING A CONTRACT FOR SERVICES BETWEEN THE
CITY OF BROOKLYN CENTER AND METROPOLITAN CONSORTIUM OF
COMMUNITY DEVELOPERS FOR THE OPEN TO BUSINESS PROGRAM
WHEREAS, the City Council of Brooklyn Center, Minnesota (the “City”) has
received a contract for services from Metropolitan Consortium of Community Developers company
(the “MCCD”) for the Open to Business program which provides technical business and lending
assistance to existing businesses, residents, and parties interested in starting a business in Brooklyn
Center; and
WHERES, the current contract for services with MCCD for the Brooklyn Center
Open to Business program expires on December 31, 2018; and
WHERES, the approved contract for services with MCCD for the Brooklyn Center
Open to Business program will have a three-year term and will expire on December 31, 2021; and
WHEREAS, the contract for services includes an annual cost to the City of $5,000
to be paid through the Economic Development Authority of Brooklyn Center’s Professional Services
account; and
WHERES, the MCCD agrees to submit reports related to the Brooklyn Center Open
to Business program twice per year and additional reports as requested by the City; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center, Minnesota, that it hereby approves the contract for services between the City of Brooklyn
Center and the Metropolitan Consortium of Community Developers for the Open to Business
Program.
December 10, 2018
Date Mayor
ATTEST:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
and upon vote being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
&RQWUDFWIRU6HUYLFHV
%HWZHHQWKH&LW\RI%URRNO\Q&HQWHU
0HWURSROLWDQ&RQVRUWLXPRI&RPPXQLW\'HYHORSHUV
IRUWKH
2SHQWR%XVLQHVV3URJUDP
7+,6$*5((0(17LVPDGHDQGHQWHUHGLQWRDVRIWKHVWGD\RI-DQXDU\ EHWZHHQWKH
&LW\RI%URRNO\Q&HQWHUDQG0HWURSROLWDQ&RQVRUWLXPRI&RPPXQLW\'HYHORSHUV KHUHLQ
FDOOHG³0&&'´
:+(5($6WKH&LW\RI%URRNO\Q&HQWHUZLVKHVWRUHWDLQDQHQWLW\ZLWKWKHFDSDFLW\WRSURYLGH
VPDOOEXVLQHVVWHFKQLFDODVVLVWDQFHWRH[LVWLQJEXVLQHVVHVDQGWKRVHSDUWLHVLQWHUHVWHGLQRSHQLQJ
DEXVLQHVVLQ%URRNO\Q&HQWHU WKH³,QLWLDWLYH´ DQG
:+(5($60&&'KDVUHSUHVHQWHGLWVHOIDVFRPSHWHQWWRSURYLGHWKHVHUYLFHVUHTXLUHGWR
DGPLQLVWHUDQGFDUU\RXWWKH,QLWLDWLYH DQG
:+(5($6WKH&LW\RI%URRNO\Q&HQWHUZLVKHVWRHQJDJH0&&'WRSURYLGHVDLGVHUYLFHV
QHFHVVDU\WRFDUU\RXWWKH,QLWLDWLYH
12:7+(5()25(LWLVDJUHHGEHWZHHQWKHSDUWLHVKHUHWRWKDW
7,0(2)3(5)250$1&(
7KHVHUYLFHWREHSURYLGHGE\0&&'VKDOOFRPPHQFHRQ-DQXDU\ DQGXQOHVV
FDQFHOHGE\HLWKHUSDUW\DXWRPDWLFDOO\UHQHZ-DQXDU\DQG-DQXDU\
(LWKHUSDUW\PD\DWWKHLUVROHGLVFUHWLRQDQGZLWKRXWFDXVHFDQFHODQ\UHPDLQLQJ\HDUV
FRYHUHGXQGHUWKLVDJUHHPHQWE\SURYLGLQJZULWWHQQRWLFHWRWKHRWKHUSDUW\DWOHDVW
GD\VSULRUWRUHQHZDO(DFK3DUW\DJUHHVWKDWD3DUW\WKDWRSWVRXWRIWKHFRQWUDFWXQGHU
WKHVHWHUPVVKDOOEHVXEMHFWWRQRSHQDOW\DQGKHOGKDUPOHVVIRUIXWXUHOLDELOLW\RU
REOLJDWLRQUHODWHGWRWKHWHUPVRIWKLVDJUHHPHQW$OOVHUYLFHVGRFXPHQWVDQG
LQIRUPDWLRQWREHIXUQLVKHGRUSHUIRUPHGE\0&&'LQRUGHUWRFDUU\RXWWKH,QLWLDWLYH
VKDOOEHIXUQLVKHGRUSHUIRUPHGDVSURPSWO\DVSRVVLEOHDQGZLWKWKHIXOOHVWGXH
GLOLJHQFH
&203(16$7,21
7RWDOFRPSHQVDWLRQWR0&&'VKDOOEHIRUDRQH\HDUSHULRG WKH&RQWUDFW
$PRXQW WRPDQDJHWKH%URRNO\Q&HQWHU2SHQWR%XVLQHVVSURJUDP7KH&RQWUDFW
$PRXQWZLOOEHSDLGLQWZRHTXDOLQVWDOOPHQWV GXHDQGSD\DEOHE\WKH&LW\RI
%URRNO\Q&HQWHUXSRQH[HFXWLRQRIWKLV$JUHHPHQWDQGLQYRLFHGDQGGDWHGRQRU
DERXWPRQWKVIURPWKHDJUHHPHQWGDWHSD\DEOHE\+HQQHSLQ&RXQW\+RXVLQJ
5HGHYHORSPHQW$XWKRULW\
6&23(2)6(59,&(6
0&&'ZLOOXVHWKH&RQWUDFW$PRXQWWRSURYLGHWHFKQLFDODVVLVWDQFHWRH[LVWLQJ%URRNO\Q
&HQWHUEXVLQHVVHVUHVLGHQWVDQGSDUWLHVLQWHUHVWHGLQVWDUWLQJDEXVLQHVVLQ%URRNO\Q
&HQWHU 6HH([KLELW$6FRSHRI6HUYLFHV%URRNO\Q&HQWHU2SHQWR%XVLQHVV3URJUDP
5(3257,1*
0&&'DJUHHVWRVXEPLWUHSRUWVUHODWHGWRLWVRSHUDWLRQRIWKH%URRNO\Q&HQWHU2SHQWR
%XVLQHVVSURJUDP,WHPVWREHUHSRUWHGRQLQFOXGHEXWDUHQRWOLPLWHGWRWKHIROORZLQJ
¾1XPEHURILQTXLULHV
¾+RXUVRIWHFKQLFDODVVLVWDQFHSURYLGHG
¾7\SHRIDVVLVWDQFHSURYLGHG
¾7\SHRIEXVLQHVV
¾$QQXDOVDOHVUHYHQXH
¾1XPEHURIEXVLQHVVHVRSHQHG
¾1XPEHURIEXVLQHVVH[SDQGHGVWDELOL]HG
¾1XPEHUDQGDPRXQWVRIILQDQFLQJSDFNDJHV
¾'HPRJUDSKLFLQIRUPDWLRQRQHQWUHSUHQHXUV
7KHUHTXLUHGUHSRUWLQJVFKHGXOHLVDVIROORZV
-DQXDU\±-XQHDFWLYLW\UHSRUWGXH-XO\VW
-DQXDU\±'HFHPEHUDFWLYLW\UHSRUWGXH-DQXDU\VW
0&&'ZLOOSURYLGHDGGLWLRQDOUHSRUWVDVUHTXHVWHGE\WKH&LW\RI%URRNO\Q&HQWHU
3(56211(/
0&&'UHSUHVHQWVWKDWLWKDVRUZLOOVHFXUHDWLWVRZQH[SHQVHDOOSHUVRQQHOUHTXLUHGLQ
SHUIRUPLQJWKHVHUYLFHVWRFDUU\RXWWKH,QLWLDWLYH6XFKSHUVRQQHOVKDOOQRWEHHPSOR\HHV
RIRUKDYHDQ\FRQWUDFWXDOUHODWLRQVKLSZLWKWKH&LW\RI%URRNO\Q&HQWHU1RWHQXUHRU
DQ\RWKHUULJKWVRUEHQHILWVLQFOXGLQJZRUNHU¶VFRPSHQVDWLRQXQHPSOR\PHQWLQVXUDQFH
PHGLFDOFDUHVLFNOHDYHYDFDWLRQSD\VHYHUDQFHSD\RUDQ\RWKHUEHQHILWVDYDLODEOHWR
&LW\RI%URRNO\Q&HQWHUHPSOR\HHVVKDOODFFUXHWR0&&'RUHPSOR\HHVRI0&&'
SHUIRUPLQJVHUYLFHVXQGHUWKLVDJUHHPHQW7KH0&&'LVDQLQGHSHQGHQWFRQWUDFWRU
$OORIWKHVHUYLFHVUHTXLUHGWRFDUU\RXWWKH,QLWLDWLYHZLOOEHSHUIRUPHGE\0&&'DQG
DOOSHUVRQQHOHQJDJHGLQWKHZRUNVKDOOEHIXOO\TXDOLILHGDQGVKDOOEHDXWKRUL]HGRU
SHUPLWWHGXQGHU6WDWHDQGORFDOODZWRSHUIRUPVXFKZRUN
,17(5(672)0(0%(562)7+(&,7<('$$1'27+(56
1RRIILFHUPHPEHURUHPSOR\HHRIWKH&LW\RI%URRNO\Q&HQWHUDQGQRPHPEHURILWV
JRYHUQLQJERG\DQGQRRWKHUSXEOLFRIILFLDORUJRYHUQLQJERG\RIWKHORFDOLW\LQZKLFK
WKH,QLWLDWLYHLVVLWXDWHGRUEHLQJFDUULHGRXWZKRH[HUFLVHVDQ\IXQFWLRQVRU
UHVSRQVLELOLWLHVLQWKHUHYLHZRUDSSURYDORIWKHXQGHUWDNLQJRUFDUU\LQJRXWRIWKH
,QLWLDWLYHVKDOOSDUWLFLSDWHLQWKHGHFLVLRQUHODWLQJWRWKLV$JUHHPHQWZKLFKDIIHFWVKLVKHU
SHUVRQDOLQWHUHVWRUWKHLQWHUHVWRIDQ\FRUSRUDWLRQSDUWQHUVKLSRUDVVRFLDWLRQLQZKLFK
KHVKHLVGLUHFWO\RULQGLUHFWO\LQWHUHVWHGRUKDVDQ\SHUVRQDORUSHFXQLDU\LQWHUHVWGLUHFW
RULQGLUHFWLQWKLV$JUHHPHQWRUSURFHHGVWKHUHRI
$66,*1$%,/7<
0&&'VKDOOQRWDVVLJQDQ\LQWHUHVWLQWKLV$JUHHPHQWDQGVKDOOQRWWUDQVIHUDQ\LQWHUHVW
LQWKHVDPHZLWKRXWWKHSULRUZULWWHQDSSURYDORIWKH&LW\RI%URRNO\Q&HQWHUWKHUHWR
&203/,$1&(:,7+/2&$//$:6
0&&'DJUHHVWRFRPSO\ZLWKDOOIHGHUDODQGVWDWHODZVVWDWXWHVDQGDSSOLFDEOH
UHJXODWLRQVDQGWKHRUGLQDQFHVRIWKH&LW\RI%URRNO\Q&HQWHU
,1685$1&(
0&&'DJUHHVWRSURYLGHSURRIRIZRUNHUV¶FRPSHQVDWLRQDQGFRPSUHKHQVLYHJHQHUDO
OLDELOLW\LQVXUDQFH&RPSUHKHQVLYHJHQHUDOOLDELOLW\LQVXUDQFHVKDOOEHLQWKHPLQLPXP
DPRXQWRI
+2/'+$50/(66
0&&'DJUHHVWRGHIHQGSURWHFWLQGHPQLI\DQGKROGKDUPOHVVWKH&LW\RI%URRNO\Q
&HQWHUWKHLUDJHQWVRIILFHUVDQGHPSOR\HHVKDUPOHVVIURPDQGDJDLQVWDOOOLDELOLWLHV
ORVVHVGDPDJHVFRVWVDQGH[SHQVHVZKHWKHUSHUVRQDOSURSHUW \RUFRQWUDFWXDO
LQFOXGLQJUHDVRQDEOHDWWRUQH\¶VIHHVDULVLQJRXWRIRUUHODWHGWRWKHDGPLQLVWUDWLRQDQG
RSHUDWLRQRIWKH,QLWLDWLYHDQGIURPDQ\DFWRIQHJOLJHQFHRI0&&'LWVRIILFHUV
HPSOR\HHVVHUYDQWVDJHQWVRUFRQWUDFWRUV
7KH&LW\RI%URRNO\Q&HQWHUDJUHHWRGHIHQGSURWHFWLQGHPQLI\DQGKROGKDUPOHVVWKH
0&&'LWVDJHQWVRIILFHUVDQGHPSOR\HHVKDUPOHVVIURPDQGDJDLQVWDOOOLDELOLWLHV
ORVVHVGDPDJHVFRVWVDQGH[SHQVHVZKHWKHUSHUVRQDOSURSHUW \RUFRQWUDFWXDO
LQFOXGLQJUHDVRQDEOHDWWRUQH\¶VIHHVDULVLQJRXWRIRUUHODWHGWRWKHDGPLQLVWUDWLRQDQG
RSHUDWLRQRIWKH,QLWLDWLYHDQGIURPDQ\DFWRIQHJOLJHQFHRIWKH&LW\RI%URRNO\Q&HQWHU
WKHLURIILFHUVHPSOR\HHVVHUYDQWVDJHQWVRUFRQWUDFWRUV
127,&(6
$QRWLFHGHPDQGRURWKHUFRPPXQLFDWLRQXQGHUWKH$JUHHPHQWE\HLWKHUSDUW\WRWKH
RWKHUVKDOOEHVXIILFLHQWO\JLYHQRUGHOLYHUHGLILWLVGLVSDWFKHGE\PDLOSRVWDJHSUHSDLG
UHWXUQUHFHLSWUHTXHVWHGRUGHOLYHUHGSHUVRQDOO\ DQG
D ,QWKHFDVHRI0&&'LVDGGUHVVHGRUGHOLYHUHGSHUVRQDOO\WR
/HH+DOO&KLHI2SHUDWLQJ2IILFHU
0HWURSROLWDQ&RQVRUWLXPRI&RPPXQLW\'HYHORSHUV
&KLFDJR$YHQXH6RXWK
0LQQHDSROLV01
E ,QWKHFDVHRIWKH&LW\RI%URRNO\Q&HQWHU
0HJ%HHNPDQ
%XVLQHVVDQG'HYHORSPHQW'LUHFWRU
&LW\RI%URRNO\Q&HQWHU
6KLQJOH&UHHN3NZ\
%URRNO\Q&HQWHU01
RUDWVXFKRWKHUDGGUHVVZLWKUHVSHFWWRDQ\SDUW\DVWKDWSDUW\PD\GHVLJQDWHLQZULWLQJ
DQGIRUZDUGWRWKHRWKHUDVSURYLGHLQWKH6HFWLRQ
02',),&$7,21
7KLV$JUHHPHQWPD\QRWEHPRGLILHGFKDQJHGRUDPHQGHGLQDQ\PDQQHUZKDWVRHYHU
ZLWKRXWWKHSULRUZULWWHQDSSURYDORIDOOWKHSDUWLHVKHUHWR
,1:,71(66:+(5(2)WKHSDUWLHVKHUHWRKDYHH[HFXWHGWKLV$JUHHPHQWRQWKHGD\
DQG\HDUILUVWZULWWHQDERYH
&,7<2)%522./<1&(17(5 0(75232/,7$1&216257,80
2)&20081,7<'(9(/23(56
% \ % \
7 L P : L O O V R Q 0 D \ R U - L P 5 R W K , W V ( [ H F X W L Y H ' L U H F W R U
$QGE\
%\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
&XUW%RJDQH\&LW\0DQDJHU
([KLELW$
6FRSHRI6HUYLFHV
2SHQIRU%XVLQHVV7HFKQLFDO$VVLVWDQFH6HUYLFHV
0&&'ZLOOSURYLGHLQWHQVLYHRQHRQRQHWHFKQLFDODVVLVWDQFHWR%URRNO\Q&HQWHUEXVLQHVVHV
%URRNO\Q&HQWHUUHVLGHQWVDQGDVSLULQJHQWUHSUHQHXUVLQWHQGLQJWRHVWDEOLVKSXUFKDVHRU
LPSURYHDEXVLQHVVLQ%URRNO\Q&HQWHU7HFKQLFDODVVLVWDQFHLQFOXGHVEXWLVQRWOLPLWHGWRWKH
IROORZLQJ
¾%XVLQHVVSODQGHYHORSPHQW
¾)HDVLELOLW\DQDO\VLV
¾0DUNHWLQJ
¾&DVKIORZDQGRWKHUILQDQFLDOSURMHFWLRQGHYHORSPHQW
¾2SHUDWLRQDODQDO\VLV
¾&LW\DQG6WDWHOLFHQVLQJDQGUHJXODWRU\DVVLVWDQFH
¾/RDQSDFNDJLQJDQGRWKHUDVVLVWDQFHLQREWDLQLQJILQDQFLQJ
¾+HOSLQREWDLQLQJFRPSHWHQWOHJDODGYLFH
0&&'ZLOODOVRSURYLGHWHFKQLFDODVVLVWDQFHRQDZDONLQEDVLVPRQWKO\LQ%URRNO\Q&HQWHU
&LW\+DOORUDVUHTXHVWHGDWDSODFHRIEXVLQHVVZLWKLQ%URRNO\Q&HQWHU
2SHQWR%XVLQHVV$FFHVVWR&DSLWDO
$FFHVVWRFDSLWDOZLOOEHSURYLGHGWRTXDOLI\LQJEXVLQHVVHVWKURXJK0&&'¶V(PHUJLQJ6PDOO
%XVLQHVV/RDQ3URJUDP VHH([KLELW%6PDOO%XVLQHVV/RDQ3URJUDP*XLGHOLQHVEHORZ
0&&'DOVRSURYLGHVLWVILQDQFLQJLQSDUWQHUVKLSRWKHUFRPPXQLW\OHQGHUVEDQNVRUERWK
(;+,%,7%
6PDOO%XVLQHVV/RDQ3URJUDP*XLGHOLQHV
/RDQ$PRXQWV
x8SWRIRUVWDUWXSEXVLQHVVHV
x/DUJHUILQDQFLQJSDFNDJHVIRUHVWDEOLVKHGEXVLQHVVHV
x'HVLJQHGWROHYHUDJHRWKHUILQDQFLQJSURJUDPVDVZHOODVSULYDWHILQDQFLQJSURYLGHGE\
WKHFRPPHUFLDOEDQNLQJFRPPXQLW\
(OLJLEOH3URMHFWV
x%RUURZHUVPXVWEHD³IRUSURILW´EXVLQHVV
x%XVLQHVVPXVWEHFRPSOLPHQWDU\WRH[LVWLQJEXVLQHVVFRPPXQLW\
x%RUURZHUVPXVWKDYHHTXLW\LQMHFWLRQDVGHWHUPLQHGE\IXQGPDQDJHPHQW
$OORZDEOH8VHRI3URFHHGV
x/RDQSURFHHGVFDQEHXVHGIRUZRUNLQJFDSLWDOLQYHQWRU\EXLOGLQJDQGHTXLSPHQWDQG
JHQHUDOEXVLQHVVRSHUDWLRQV
,QWHUHVW5DWHV
x/RDQLQWHUHVWUDWHLVGHSHQGHQWRQXVHWHUPDQGRWKHUIDFWRUVQRWWRH[FHHG
/RDQ7HUP/HQJWK
x/RDQUHSD\PHQWWHUPVZLOOJHQHUDOO\UDQJHIURPWKUHHWRILYH\HDUVEXWPD\EH
VXEVWDQWLDOO\ORQJHUIRUPDMRUDVVHWILQDQFLQJVXFKDVFRPPHUFLDOSURSHUW\
)HHVDQG&KDUJHV
x%RUURZHUVDUHUHVSRQVLEOHIRUSD\LQJDOOFXVWRPDU\OHJDODQGRWKHUORDQFORVLQJFRVWV
!"#$%"
& $! %
' ( %!
"")#$ *+,,
-.&! + /"01 23 4
5 $'*
%'"-!!,',6!$7+)5+%
!" #$
%
& ' &
(
& )
')+ 4 2-
"!6,, /"01 23 4 "7,7"1* !+
-
%*-"%
"*-5 $'*
%'"-!!,',6!$
7+)5+%1 "7,7"1-%%
""%%*
!!"+)!,-"%
"6$*-)/"1
-!""+
6- "7,7"1*)/"+)5+%6%89:9 1: 1-!
5!
*6$"*,**!)+%8 ;41 1-!)/""%"!
,
""%,+%!!%8<9
9912;,6%"+)!,:14)"
,
,
-+
*8
9 141-"-,%!
)5,%%
++*-*!+,,"%%,*
,
%
"%*-)/"1
!
=%)75%+%
0 H P E H U L Q W URGXFHG WKH IROORZLQJ UHVROXWLRQ DQG
PRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21 $&&(37,1* :25. 3(5)250(' $1' $87+25,=,1*
),1$/ 3$<0(17 352-(&7 12 (9(5*5((1 3$5. $5($
6$)(5287(6726&+22/75$,/$1'6,'(:$/.,03529(0(176
:+(5($6 SXUVXDQWWRDZULWWHQFRQWUDFWVLJQHGZLWKWKH&LW\RI%URRNO\Q
&HQWHU 0LQQHVRWD &RQFUHWH ,GHD,QF RI 3O\PRXWK0LQQHVRWD KDVFRPSOHWHGWKHIROORZLQJ
LPSURYHPHQWVLQDFFRUGDQFHZLWKVDLGFRQWUDFW
,PSURYHPHQW3URMHFW1R(YHUJUHHQ3DUN$UHD6DIH5RXWHVWR6FKRRO
7UDLODQG6LGHZDON,PSURYHPHQWV
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHU0LQQHVRWDWKDW
)LQDO SD\PHQW VKDOO EH PDGH RQ ,PSURYHPHQW 3URMHFW 1R
(YHUJUHHQ 3DUN $UHD 6DIH 5RXWHV WR 6FKRRO 7UDLO DQG 6LGHZDON
,PSURYHPHQWVWDNLQJWKHFRQWUDFWRU¶VUHFHLSWLQIXOO7KHWRWDODPRXQWWR
EHSDLGIRUVDLGLPSURYHPHQWVXQGHUVDLGFRQWUDFWVKDOOEH
7KHHVWLPDWHGSURMHFWFRVWVDQGUHYHQXHVDUHKHUHE\DPHQGHGDVIROORZV
&2676 $V2ULJLQDO$ZDUG $V)LQDO
&RQWUDFW
&RQWLQJHQF\
$GPLQ/HJDO(QJ WRGDWH
(QJLQHHULQJ (VWLPDWHIRU'HF
7RWDO(VWLPDWHG3URMHFW&RVW
5(9(18(6 $V2ULJLQDO$ZDUG$V)LQDO
6WUHHW5HFRQVWUXFWLRQ)XQG
&DSLWDO3URMHFWV)XQG
)HGHUDO*UDQW
0LVFHOODQHRXV
7RWDO(VWLPDWHG5HYHQXH
5(62/87,2112BBBBBBBBBBBBBBB
'HFHPEHU
' D W H 0 D \ R U
$77(67
& L W \ & O H U N
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
B
R
Y
A
N
T
A
V
E
N
7
2
N
D
A
V
E
N
C
O
L
F
A
X
A
V
E
N
£¤25
2
D
U
P
O
N
T
A
V
E
N
H
U
M
B
O
L
D
T
A
V
E
N
B R O O K L Y N
P A R K
B R O O K L Y N
C E N T E R
G
I
R
A
R
D
A
V
E
N
69
T
H
A
V
E
N
AM
Y
L
N
F
R
E
M
O
N
T
A
V
E
N
WO
O
D
B
I
N
E
L
N
7
0
T
H
A
V
E
N
E
M
E
R
S
O
N
A
V
E
68
T
H
L
N
N
EM
E
R
S
O
N
L
N
ALDR
I
C
H
C
T
73
R
D
A
V
E
N
72
N
D
A
V
E
N
I
R
V
I
N
G
A
V
E
N
C
A
M
D
E
N
A
V
E
N
J
A
M
E
S
A
V
E
N
70
T
H
A
V
E
N
B
R
Y
A
N
T
A
V
E
N
WO
O
D
B
I
N
E
L
N
E
M
E
R
S
O
N
A
V
E
N
71
S
T
A
V
E
N
72
N
D
A
V
E
N
72
N
D
A
V
E
N
Si
d
e
w
a
l
k
a
n
d
T
r
a
i
l
I
m
p
r
o
v
e
m
e
n
t
s
Ev
e
r
g
r
e
e
n
P
a
r
k
A
r
e
a
6D
I
H
5
R
X
W
H
V
7
R
6
F
K
R
R
O
Ü
/R
F
D
W
L
R
Q
0
D
S
Le
g
e
n
d
Re
p
l
a
c
e
E
x
i
s
t
i
n
g
Tr
a
i
l
Pr
o
p
o
s
e
d
N
e
w
8
'
Tr
a
i
l
Re
p
l
a
c
e
E
x
i
s
t
i
n
g
Si
d
e
w
a
l
k
Pr
o
p
o
s
e
d
N
e
w
6
'
Si
d
e
w
a
l
k
Ex
i
s
t
i
n
g
S
i
d
e
w
a
l
k
or
T
r
a
i
l
t
o
R
e
m
a
i
n
Pr
o
j
e
c
t
B
o
u
n
d
a
r
y
! "#
$ %&&'()
* "
("(
+ , "&
++&"- & . /
+( 0-1 12
"11
(&"1&&-31"&-&&*#&"-1
&&"#)1 *#&"1 --""-*#&"
4
(*
*#&"(*#""15"*6-#
7&(!)" #&( #**#&" +&"
!"-1"*#&""7&"1 1
11(&&(57#("" (""& !1&&
#"- /
1(7-
&"1!" "&"-11418
9:4
-
&&4**#&"
-&-9-
&&**#&"!)-1 1"4!&&*#&"15(( &
#1("-1
(&1
1#&(""
"7&!)( ""&" !"
1(*#51*)#&(
1 ##" 7
#5 " - 1 #( & ! (" ; &" #5 " - "(1
&
#-*(7" "#(""-*#&"7&!1*3*
* +--(** "##5&-1
##&!1<=&!("- /
1##" 7
!&&"
##<=##& 6
"* "(1
& #-*("#(""#5
71"&
2019 City Manager and Department Head Pay Plan
Exempt from overtime (not eligible for overtime)
1/1/19
Position title Minimum Maximum
City Manager: Salary pursuant to
employment contract
Director of Finance Annual 109,161$ 133,846$
Chief of Police Annual 109,161$ 133,846$
Director of Public Works Annual 109,161$ 133,846$
Community Development Director Annual 109,161$ 133,846$
Director of Comm. Activities, Rec. & Services Annual 109,161$ 133,846$
Fire Chief Annual 109,161$ 133,846$
Deputy City Manager Annual 109,161$ 133,846$
The City Manager is authorized to set salaries within the established ranges.
This schedule reflects a 3% increase January 1, 2019
!"#$%"
& $! %
' ( %!
% )*%') !*+,-+%
! "#
"
$ "
" #
% $
&'
%%./,
!"0%%"0)
!)"+
10.%,
!"0%"%)
)+,-+%)
02,,.,!%)%,"."%.*+,-+ 3"4%1
56 7) 810%"),
!"0%"%)".".,,%)%,"!%%%%+%
.%)%+)+,-+%.*+,-+ 3"4%1 56 ) 56 1!!
,!!.."),,/%0- .) +!.0).,
!"0%)0+
.,,%)%,"!%%%%+%10,
!"0%0-!% ,
!%0)0.."!"/%,,
"")"/0%%
1
!"#! $#
0,,%),3""!
)%)/%+))
!+,-+%.0%)!
0 0)"++!.)%0*%10,3"/%,-
%!% !%0) 0
"!5
%!
691 4-+ 7
0
"!"-)
,3".% !,)"!!).,
!"0 0!)"+
"%)0%
+,-+%1
0,3".% !,,-)%)%",."++))+,-+%.00 0))
%+),3"
)10,,%)+,-+%%.!!/%
% & #! $#:&
!!%"%
".!!%%"!
)) %,,
%!!."")-/,%
+
%,-%!!."""
)
,!"+.%%%,!"+..6%)%!0%/0;!0.<
%)
!-)
%1
' & #
#! $#:*"!
)%%!!./%+%/)%!!.""
"
)
!!%%),),!"+.<%%+%/%!!./),
),!"+.<%""0 %%)+0!%1
( )
#! $#:*"!
)%,!"+.,,<+!9=,".<%/+
,,%)%!!./-!-%0)%)/%-"%0%0
..-!-/0+,")1
* & +&,
#! $#:*"!
)%"+,!,!"+.%%/,,""%%
%
"
%)%)!%/%-"%,,!%1
&## +" #
',"!%%%%+%,,%)%.%-!.
)%
"%.0+,-+%!")/00
*%1 4-+ 7
0
"!),)0 5%,"!%%%%+%.%
)%+)+,-+%.%)!2),,%10 5%/% !%0)
"")"/00 >%',"!%%%%+ !"1
0.% !,"!
)%,!+%%%%+!!).,,<+!78%)!,,%
02)? ?%
6)-) !%)!,,%02)? ?)%
6)-) !"0
"0
,,0%2)? ?1'"0)-%),,)<:&!%%%%+ !!)&
:
%%%%+,.+0,3".% !,1
%%%%+%.&
!!' "%
"
',"!%%%%+%.6%
)-) !%!.+!%)!,,%02) /"!"
!)
.
!!
%%%%+%.@897.%+,-+%)@7
A.%+)+,-+%1
0 2),,%0!00%))%!.+!!"!
)=99)-
9
9)-
)98 !)"0-
/%%%%) %)"+,
+<+
+
+ .%
)-) !
!%+%0.
!!
%%%%++
.%)%+)+,-+%1
-.##
,,/+"0%,,! 3"%,"!%%%%+1*./.!%,,!/00
!$,,
!"0%0
!),%,,,
!"0) 3"%%%%+
%.."++)%00
"!.%
%- 3"%%..., "$0
"!"
),
!"01<+,!+0 %%
/0 %../
!))%"00
0%.,"
!"+,!)%%+ !)"
+10
"!%0
!)"%)+-0
3"!)%%%%+.+0,,%)!-!!)),0+,,%)%%%%+%1
*.,,!.%,".",,%"
!!.!)/0)%""
0 /!!)-%0
"!.,%.0)!0)%,
),!!%%
%1
!%..%/.
%
%- 3")"++)%,,-!"")!1
!""++%/"!
))0&% ! ,B,,)<C1'
%D
!))!,
!"
"++/%"-).+,,/9)-
B%"0)++)
+))"+ 7
C1
-+#! $.- ! +,
"%%%%+!!%),) 0
"!0/."0,,0%0.!!/,+
,%
1 0+
.0%,"!%%%%+/0
% /"0)',+ 7 51
1&+ " 50).0
%%%)4-+ 5,,/+,
0!%%%%+/0%"!"
!).+ " 50).,+1
71,,/+,0%%%%+- 6,)10.%,+/!! )
/0<%
10!,",!/!! , !
!%!!+%1*%=1 ,"%,)0
,)
!"1
81 !,,+%B%
"0%,0!./)".0 !"C!!/)
)0 >%
"
%%%%+ !"1
##-
/ -.0 #! $#'.."++)%0,% ,-))0
"!,0!)0.%,
!"01&!!/0,%,
!"0"%)
)0+,-+,3"%0
!) ")
")"-,
!""++%1
!""++%
""%,"!%%%%+%%0
!) ).)0%"),
!"01%!
)0
+,-+%)
02,,.,!%)%,"."%%,-)).
"!
"%)
,"!%.0.%,
!"01
&-.0 " &! #.$"0.%,,%)%!
)0,3"%"++))00
"!0")
"%"),
!"0,,%)
%,"!%%%%+%10"0)%!
".%,"!%%%%+%.%)%+)
+,-+%.*+,-+ 3"4%1 56 ) 56 0,
<!!%%
,-)).
"!"%)
,"!%.0%"),
!"01
0,,%)%)
!+,-+%"!
))0 5 ,!*+,-+ +10
!,3""%%%+) @ 85 1&
)%
"%.0,3"
)).+%
"%%
)%" )0,3".% !,,-
%!"",) 0
"!4-+ 7
10
%,"!%%%%+%/),) 0
"!4-+ 7
).
)%
"
+
%0"!
))0.% !,!%) !/
&% ! ,B7
C
',"!%%%%+%@89 87 1
''/ !@A= 1
# !@ 1
'+ !@995=51
';0 !@5 1
' "%
"&
)@78991
!@ 85 1
& - 1
E%,*-%+%
0HPEHU LQWURGXFHGWKHIROORZLQJUHVROXWLRQDQGPRYHG
LWVDGRSWLRQ
5 ( 6 2 / 8 7 , 2 1 1 2 BBBBBBBBBBBBBB
5(62/87,21 25'(5,1* ,03529(0(176 $1' $87+25,=,1*
35(3$5$7,212)3/$16$1'63(&,),&$7,216)25,03529(0(17
352-(&7 126 $1' ,17(567$7( $5($ 675((7
67250'5$,1$*($1'87,/,7<,03529(0(176
:+(5($6 WKH %URRNO\Q &HQWHU &LW\ &RXQFLO RQ 0D\ DXWKRUL]HG
FRQVLGHUDWLRQRIVWUHHWVWRUPGUDLQDJHDQGXWLOLW\LPSURYHPHQWVLQWKHDUHDJHQHUDOO\GHVFULEHGDV
³,17(567$7($5($´PRUHVSHFLILFDOO\GHVFULEHGDVIROORZV WK$YHQXH1IURP'XSRQW$YHQXH
1WR$OGULFK$YHQXH1 VW$YHQXH1IURP'XSRQW$YHQXH1WR/\QGDOH$YHQXH1 QG$YHQXH1
IURP'XSRQW$YHQXH1WR/\QGDOH$YHQXH1 $OGULFK$YHQXH1IURP WK$YHQXH1WRQG$YHQXH
1 %U\DQW$YHQXH1IURP WK$YHQXH1WR/LODF'ULYH1 &DPGHQ$YHQXH1IURP WK$YHQXH1WR
¶QRUWKRI&DPGHQ&RXUW &DPGHQ&RXUWIURP&DPGHQ$YHQXH1WR¶HDVWRI&DPGHQ$YHQXH
1 &ROID[$YHQXH1IURP WK$YHQXH1WR/LODF'ULYH1 /LODF'ULYH1IURP'XSRQW$YHQXH1WR
%U\DQW$YHQXH1 DQG/\QGDOH$YHQXH1IURPWK$YHQXH1WRQG$YHQXH1 DQG
:+(5($6WKH&LW\&RXQFLOKDVUHFHLYHGDQGDFFHSWHGDIHDVLELOLW\UHSRUWIRUVDLG
SURSRVHGLPSURYHPHQWVDVSUHSDUHGXQGHUWKH&LW\(QJLQHHU¶VVXSHUYLVLRQ DQG
:+(5($6VDLGLPSURYHPHQWVDUHQHFHVVDU\FRVWHIIHFWLYHDQGIHDVLEOHDVGHWDLOHG
LQWKHIHDVLELOLW\UHSRUW DQG
:+(5($6WKH&LW\&RXQFLORQ1RYHPEHUDGRSWHGDUHVROXWLRQVHWWLQJD
GDWHIRUDSXEOLFKHDULQJUHJDUGLQJWKHSURSRVHGLPSURYHPHQWVIRU,QWHUVWDWH$UHD DQG
:+(5($6WHQGD\VSXEOLVKHGQRWLFHRISXEOLFKHDULQJZDVJLYHQDQGWKHSXEOLF
KHDULQJZDVKHOGRQ'HFHPEHUDWZKLFKWLPHDOOSHUVRQVGHVLULQJWREHKHDUGZHUHJLYHQWKH
RSSRUWXQLW\WREHKHDUGWKHUHRQ DQG
:+(5($6WKH&LW\&RXQFLOKDVFRQVLGHUHGDOOFRPPHQWVWHVWLPRQ\HYLGHQFHDQG
UHSRUWVRIIHUHGDWRUSULRUWRWKH'HFHPEHUSXEOLFKHDULQJ DQG
:+(5($6WKH&LW\UHDVRQDEO\H[SHFWVWRVSHQGPRQLHVIURPWKH,QIUDVWUXFWXUH
&RQVWUXFWLRQ)XQGRQDWHPSRUDU\EDVLVWRSD\WKHH[SHQGLWXUHVGHVFULEHGLQWKLVUHVROXWLRQ DQG
:+(5($6WKH&LW\UHDVRQDEO\H[SHFWVWRUHLPEXUVHLWVHOIIRUVXFKH[SHQGLWXUHVIURP
WKHSURFHHGVRIWD[DEOHRUWD[H[HPSWERQGVWKHGHEWVHUYLFHRIZKLFKLVH[SHFWHGWREHSDLGIURP
SURSHUW\WD[HVVSHFLDODVVHVVPHQWVRUXWLOLW\IHHV7KHPD[LPXPDPRXQWRIVSHFLDODVVHVVPHQW
REOLJDWLRQVH[SHFWHGWREHLVVXHGIRUVXFKSURMHFWLV DQG
5(62/87,2112BBBBBBBBBBBBBBB
:+(5($6WKH&LW\(QJLQHHULVSUHSDUHGWRGHYHORSSODQVDQGVSH FLILFDWLRQVIRUVDLG
SXEOLFLPSURYHPHQWSURMHFW
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHU0LQQHVRWDWKDW
,PSURYHPHQW3URMHFW1RV DQG,QWHUVWDWH$UHD6WUHHW
6WRUP'UDLQDJHDQG8WLOLW\,PSURYHPHQWVDUHKHUHE\RUGHUHGDQGWKH&LW\
(QJLQHHU LV DXWKRUL]HG WR SUHSDUH SODQV DQG VSHFLILFDWLRQV IRUVDLG
LPSURYHPHQWV
7KLVUHVROXWLRQLVLQWHQGHGWRFRQVWLWXWHRIILFLDOLQWHQWWRLVVXHWD[DEOHRUWD[
H[HPSWUHLPEXUVHPHQWERQGVIRUSXUSRVHVRI7UHDVXU\5HJXODWLRQVDQGDQ\
VXFFHVVRUODZUHJXODWLRQRUUXOLQJ7KLVUHVROXWLRQZLOOEHPRGLILHGWRWKH
H[WHQWUHTXLUHGRUSHUPLWWHGE\7UHDVXU\5HJXODWLRQVRUDQ\VXFFHVVRUODZ
UHJXODWLRQRUUXOLQJ
'HFHPEHU
'DWH 0D\RU
$77(67
&LW\&OHUN
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
0HPEHU LQWURGXFHGWKHIROORZLQJUHVROXWLRQDQGPRYHG
LWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBB
5(62/87,21&(57,)<,1*63(&,$/$66(660(176)25,03529(0(17
352-(&7126 $1' ,17(567$7($5($675((7$1'
67250'5$,1$*(,03529(0(176727+(+(11(3,1&2817<7$;
52//6
:+(5($6SXUVXDQWWRSURSHUQRWLFHGXO\JLYHQDVUHTXLUHGE\ODZWKH&LW\&RXQFLO
KDVPHWKHDUGDQGSDVVHGXSRQDOOREMHFWLRQVWRWKHSURSRVHG6SHFLDO$VVHVVPHQW/HY\1RV
DQG DQG
:+(5($6DVVHVVPHQWUROOVFRSLHVRIZKLFKDUHDWWDFKHGKHUHWRDQGSDUWKHUHRIE\
UHIHUHQFHKDYHEHHQSUHSDUHGE\WKH&LW\(QJLQHHUDQG&LW\&OHUNWDEXODWLQJWKRVHSURSHUWLHVZKHUH
VWUHHWLPSURYHPHQWDQGVWRUPGUDLQDJHFRVWVDUHWREHDVVHVVHG
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHU0LQQHVRWDWKDW
6XFKSURSRVHGDVVHVVPHQWV6SHFLDO$VVHVVPHQW/HY\1RIRUVWUHHW
LPSURYHPHQWVDQG6SHFLDO$VVHVVPHQW/HY\1RIRUVWRUPGUDLQDJH
LPSURYHPHQWVPDGHDSDUWKHUHRIDUHKHUHE\DFFHSWHGDQGVKDOOFRQVWLWXWH
VSHFLDODVVHVVPHQWVDJDLQVWODQGVQDPHGWKHUHLQDQGHDFKWUDFWRIODQG
WKHUHLQLQFOXGHGLVKHUHE\IRXQGWREHEHQHILWHGE\WKHLPSURYHPHQWLQWKH
DPRXQWRIWKHDVVHVVPHQWVOHYLHGDJDLQVWLW
6XFKDVVHVVPHQWVVKDOOEHSD\DEOHLQHTXDODQQXDOLQVWDOOPHQWVH[WHQGLQJ
RYHUDSHULRGRIWHQ \HDUVDVLQGLFDWHGRQWKHDVVHVVPHQWUROO7KHILUVWRI
WKHLQVWDOOPHQWVVKDOOEHSD\DEOHZLWKDGYDORUHPWD[HVLQDQGVKDOO
EHDULQWHUHVWRQWKHHQWLUHDVVHVVPHQWDWWKHUDWHRISHUFHQWSHUDQQXP
IURP2FWREHU WKURXJK'HFHPEHU7RHDFKVXEVHTXHQW
LQVWDOOPHQWZKHQGXHVKDOOEHDGGHGLQWHUHVWIRURQH\HDURQDOOXQSDLG
LQVWDOOPHQWV
7KHRZQHURIDQ\SURSHUW\VRDVVHVVHGPD\DWDQ\WLPHSULRUWRFHUWLILFDWLRQ
RIDVVHVVPHQWWRWKH&RXQW\$XGLWRUSD\WKHZKROHDVVHVVPHQWWRWKH&LW\
7UHDVXUHU ZLWKRXW LQWHUHVW LIHQWLUH DVVHVVPHQW LV SDLG RQ RU EHIRUH
6HSWHPEHU $IWHU6HSWHPEHU KHRUVKHPD\SD\WKHWRWDO
DVVHVVPHQWSOXVLQWHUHVW,QWHUHVWZLOODFFXPXODWHIURP2FWREHU
WKURXJKWKHGDWHRISD\PHQW6XFKSD\PHQWPXVWEHPDGHE\WKHFORVHRI
EXVLQHVV1RYHPEHU RULQWHUHVWZLOOEHFKDUJHGWKURXJK'HFHPEHU
RIWKHVXFFHHGLQJ\HDU,IWKHRZQHUZLVKHVWRSD\RIIWKHEDODQFHDWVRPH
SRLQWLQWKHIXWXUHVXFKSD\PHQWPXVWEHPDGHEHIRUH1RYHPEHURU
LQWHUHVWZLOOEHFKDUJHGWKURXJK'HFHPEHURIWKHVXFFHHGLQJ\HDU
5(62/87,2112BBBBBBBBBBBBBBB
7KH&LW\&OHUNVKDOOIRUWKZLWKWUDQVPLWDFHUWLILHGGXSOLFDWHRIWKLVDVVHVVPHQW
WRWKH&RXQW\$XGLWRUWREHH[WHQGHGRQWKHSURSHUWD[OLVWVRIWKHFRXQW\DQG
VXFKDVVHVVPHQWVVKDOOEHFROOHFWHGDQGSDLGRYHULQWKHVDPHPDQQHUDVRWKHU
PXQLFLSDOWD[HV
'HFHPEHU
'DWH 0D\RU
$77(67
&LW\&OHUN
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
3523(57<,' +286( 675((71$0( /(9< 675((7 /(9< 67250 127(6
7+$9(1 5
67$9(1 5
67$9(1 5
67$9(1 5
67$9(1 5
67$9(1 5
67$9(1 5
1'$9(1 5
1'$9(1 5
1'$9(1
6XEGLYLGDEOH5 HTXLYDOHQW
SDUFHOV
1'$9(1 5
1'$9(1 5
1'$9(1
6XEGLYLGDEOH5 HTXLYDOHQW
SDUFHOV
1'$9(1 5
1'$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1 5
$/'5,&+$9(1
6XEGLYLGDEOH5 HTXLYDOHQW
SDUFHOV
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
&,7<2)%522./<1&(17(5),1$/$66(660(1752//
'HFHPEHU
,17(567$7($5($5(&216758&7,21
,03529(0(17352-(&7126 $1'
1of4
3523(57<,' +286( 675((71$0( /(9< 675((7 /(9< 67250 127(6
&,7<2)%522./<1&(17(5),1$/$66(660(1752//
'HFHPEHU
,17(567$7($5($5(&216758&7,21
,03529(0(17352-(&7126 $1'
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
%5<$17$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
2of4
3523(57<,' +286( 675((71$0( /(9< 675((7 /(9< 67250 127(6
&,7<2)%522./<1&(17(5),1$/$66(660(1752//
'HFHPEHU
,17(567$7($5($5(&216758&7,21
,03529(0(17352-(&7126 $1'
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5 6RXWK/RW $GGUHVV3HQGLQJ
&$0'(1$9(1 5 1RUWK/RW
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1$9(1 5
&$0'(1&7 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
3of4
3523(57<,' +286( 675((71$0( /(9< 675((7 /(9< 67250 127(6
&,7<2)%522./<1&(17(5),1$/$66(660(1752//
'HFHPEHU
,17(567$7($5($5(&216758&7,21
,03529(0(17352-(&7126 $1'
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
&2/)$;$9(1 5
'83217$9(1 5
/,/$&'51 5
/,/$&'51 5
/,/$&'51 5
/,/$&'51 5
/,/$&'51 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
/<1'$/($9(1 5
7RWDO$VVHVVPHQWV
4of4
694
94
60TH AVE N
CA
M
D
E
N
A
V
E
N
BR
Y
A
N
T
A
V
E
N
DU
P
O
N
T
A
V
E
N
CAMDEN CT
59TH AVE N
AL
D
R
I
C
H
A
V
E
N
3RD LN N
LY
N
D
A
L
E
A
V
E
N
EM
E
R
S
O
N
A
V
E
N
CO
L
F
A
X
A
V
E
N
LILAC
D
R
N
61ST AVE N
58TH AVE N
62ND AVE N
6240
516
814
6
0
0
5
2
0
5
1
0
5
0
6
5
1
5
5
0
9
22
5837
6041
6035
6031
6023
6015
5821
6007906
6001
5905
5911
6
2
4
2
5919
5957
5929
5945
5953
5959
5815
5951
905
5945
5900
6
2
3
0
5937
5958
5950
5940
5930
5926
5922
5912
505
5935
62
2
0
810
5929
5901
5921
8
0
0
6117
62
20
5
9
3
0
521
6109
6252
6
2
3
8
6101
6233
6000
6042
6006
6012
6024
6018
6030
6036
5937
6127
6
2
1
8
6
2
3
4
62
2
2
5 807
509
62
27
600160006001
6133
6043
6012
6040
6018
6024
5901
6041
6009
6015
6037
6023
6031
6006
6014
6020
6028
6034
6210
611661166117
6035
6029
6021
6015
6007
6220
6228
6132
6115 6114 6115 6114 6115
5943
5900
6
2
0
0
5900
59075906
59155916
5921
5907
5915
5921
5927
5933
5941
5947
5922
59275928
6100
6106
6122
6128
5933
5901
5934
6125
5941
6106 6107
6100 6101
5940
5906
6140 6145
5947
5914
5948
5920
5926
6100
5932
6101 6100 6101
6107 6106 6107
5940
6123 6122 6123
6131 6130 6131
5946
6100
6030
6106
6138 6139 6138 6139
6122 6123
6130 6131
6006
61396138
6001
6001
6043
6000
6007
6015
6019
6025
6031
6037
6000
6042
6006
6012
6018
6024
6030
6036
5901
6128
6042
5942
5919
5925
5931
5937
6043
59
0
0
6200 6201 6200 6201
6207 6206 6207
6215 6214 6215
6221 6220 6221
6227 6224 6225
6230 6233
6236 6237
59
4
2
5907
5913
580
1
6139
5 91
6
6013
6019
6025
6031
6037
6
2
0
0
6107
6007
6234
6240
6246
6215
6221
22
Legend
Proposed Single R1 Assessment
Proposed Multiple R1 Assessments
Previously Assessed
Assessment Map
Interstate Area Street and Utility Improvements December 2018
M E M O R A N D U M
DATE: December 3, 2018
TO: Curt Boganey, City Manager
THROUGH: Doran Cote, P.E., Director of Public Works
FROM: Mike Albers, P.E., City Engineer
SUBJECT: Resident Survey Comment Update – Interstate Area Street and Utility
Improvements, Project Nos. 2019-01, 02, 03 and 04
This memo supplements Appendix B (Resident Comments) of the feasibility report for the
Interstate Area Street and Utility Improvements dated November 5, 2018.
Please see the attached letter from the property owner at 509 62nd Avenue regarding the potential
new sidewalk along 62nd Avenue from Dupont Avenue to Lyndale Avenue. This information is
an additional comment received subsequent to the City Council accepting the feasibility report
on November 13, 2018.
OE"WFOVF
Ci
t
y
o
f
B
r
o
o
k
l
y
n
C
e
n
t
e
r
In
t
e
r
s
t
a
t
e
A
r
e
a
St
r
e
e
t
a
n
d
U
t
i
l
i
t
y
I
m
p
r
o
v
e
m
e
n
t
s
(
2
0
1
9
)
Pu
b
l
i
c
H
e
a
r
i
n
g
s
De
c
e
m
b
e
r
1
0
,
2
0
1
8
Pu
b
l
i
c
I
m
p
r
o
v
e
m
e
n
t
H
e
a
r
i
n
g
:
Sp
e
c
i
a
l
A
s
s
e
s
s
m
e
n
t
s
:
Lo
c
a
l
p
u
b
l
i
c
i
m
p
r
o
v
e
m
e
n
t
s
t
o
t
h
e
C
i
t
y
’
s
in
f
r
a
s
t
r
u
c
t
u
r
e
b
a
s
e
d
o
n
S
t
a
t
e
o
f
M
i
n
n
e
s
o
t
a
S
t
a
t
u
t
e
Ch
a
p
t
e
r
4
2
9
In
t
e
r
s
t
a
t
e
A
r
e
a
S
t
r
e
e
t
&
U
t
i
l
i
t
y
I
m
p
r
o
v
e
m
e
n
t
s
,
Pr
o
j
e
c
t
N
o
s
.
2
0
1
9
-
01
,
0
2
,
0
3
&
0
4
In
t
e
r
s
t
a
t
e
A
r
e
a
R
e
c
o
n
s
t
r
u
c
t
i
o
n
P
r
o
j
e
c
t
Ca
p
i
t
a
l
I
m
p
r
o
v
e
m
e
n
t
P
r
o
g
r
a
m
Ci
t
y
I
n
i
t
i
a
t
e
d
P
r
o
g
r
a
m
i
n
19
9
3
Re
c
o
n
s
t
r
u
c
t
A
g
i
n
g
P
u
b
l
i
c
St
r
e
e
t
s
a
n
d
U
t
i
l
i
t
i
e
s
92
.
5
m
i
l
e
s
(
8
8
%
)
Co
m
p
l
e
t
e
d
20
1
9
w
i
l
l
b
e
t
h
e
2
6
t
h
Y
e
a
r
Pr
o
j
e
c
t
e
d
C
o
m
p
l
e
t
i
o
n
20
2
1
13
.
1
M
i
l
e
s
R
e
m
a
i
n
i
n
g
Es
t
.
C
o
s
t
2
0
1
9
-
2
0
3
3
C
I
P
:
$2
0
1
m
i
l
l
i
o
n
Pr
o
j
e
c
t
P
l
a
n
n
i
n
g
Pr
o
j
e
c
t
E
v
a
l
u
a
t
i
o
n
Sa
n
i
t
a
r
y
S
e
w
e
r
Wa
t
e
r
M
a
i
n
St
o
r
m
D
r
a
i
n
a
g
e
St
r
e
e
t
s
,
S
i
d
e
w
a
l
k
s
,
T
r
a
i
l
s
St
r
e
e
t
L
i
g
h
t
s
Ot
h
e
r
Sa
n
i
t
a
r
y
S
e
w
e
r
Co
l
l
e
c
t
i
o
n
S
y
s
t
e
m
Co
l
l
e
c
t
i
o
n
S
y
s
t
e
m
I
n
s
t
a
l
l
e
d
i
n
19
6
0
,
1
9
6
2
,
1
9
6
4
,
1
9
6
5
a
n
d
19
7
2
Ma
i
n
l
y
8
”
V
C
P
,
s
o
m
e
8
”
P
V
C
Ro
o
t
I
n
t
r
u
s
i
o
n
-
r
o
o
t
s
a
w
i
n
g
re
q
u
i
r
e
d
t
o
m
a
i
n
t
a
i
n
co
n
v
e
y
a
n
c
e
c
a
p
a
c
i
t
y
(
9
5
%
)
Co
n
d
i
t
i
o
n
S
u
r
v
e
y
/
T
e
l
e
v
i
s
i
n
g
In
s
p
e
c
t
i
o
n
s
(
cr
a
c
k
e
d
p
i
p
e
,
sa
g
s
)
Pr
o
p
o
s
e
d
I
m
p
r
o
v
e
m
e
n
t
s
Ne
w
t
r
u
n
k
s
e
w
e
r
s
w
i
t
h
i
n
st
r
e
e
t
s
Re
p
l
a
c
e
s
e
r
v
i
c
e
l
i
n
e
s
u
p
t
o
pr
o
p
e
r
t
y
l
i
n
e
w
i
t
h
i
n
s
t
r
e
e
t
s
Di
s
t
r
i
b
u
t
i
o
n
S
y
s
t
e
m
I
n
s
t
a
l
l
e
d
:
1
9
6
4
,
19
6
9
a
n
d
1
9
7
2
6”
a
n
d
8
”
C
I
P
24
”
S
t
e
e
l
o
n
C
o
l
f
a
x
A
v
e
Ca
s
t
I
r
o
n
P
i
p
e
w
i
t
h
c
e
m
e
n
t
l
i
n
e
r
–
i
n
re
l
a
t
i
v
e
l
y
g
o
o
d
c
o
n
d
i
t
i
o
n
(
c
o
u
p
l
e
is
s
u
e
a
r
e
a
s
)
Is
s
u
e
s
-
U
n
d
e
r
m
i
n
i
n
g
Ca
s
t
I
r
o
n
P
i
p
e
(d
u
r
i
n
g
s
a
n
i
t
a
r
y
s
e
w
e
r
r
e
p
l
a
c
e
m
e
n
t
)
Pr
o
p
o
s
e
d
I
m
p
r
o
v
e
m
e
n
t
s
Re
p
l
a
c
e
v
a
l
v
e
s
a
n
d
h
y
d
r
a
n
t
s
th
r
o
u
g
h
o
u
t
p
r
o
j
e
c
t
a
r
e
a
Re
p
l
a
c
e
m
e
n
t
o
f
W
a
t
e
r
M
a
i
n
(
w
h
e
r
e
ad
j
a
c
e
n
t
t
o
d
e
e
p
s
a
n
i
t
a
r
y
s
e
w
e
r
re
p
l
a
c
e
m
e
n
t
a
n
d
s
t
e
e
l
l
i
n
e
o
n
Co
l
f
a
x
:
a
p
p
r
o
x
.
6
0
%
-
7
0
%
)
Re
p
l
a
c
e
s
e
r
v
i
c
e
l
i
n
e
s
u
p
t
o
p
r
o
p
e
r
t
y
li
n
e
,
C
u
r
b
S
t
o
p
s
Di
s
st
r
i
b
u
t
i
o
n
n
ys
t
e
m
I
n
s
t
a
l
l
e
d
Sy
:
96
4
19
Wa
t
e
r
D
i
s
t
r
i
b
u
t
i
o
n
S
y
s
t
e
m
St
o
r
m
W
a
t
e
r
Dr
a
i
n
a
g
e
S
y
s
t
e
m
Ex
i
s
t
i
n
g
s
t
o
r
m
s
e
w
e
r
s
y
s
t
e
m
i
s
de
v
e
l
o
p
e
d
t
h
r
o
u
g
h
o
u
t
ne
i
g
h
b
o
r
h
o
o
d
–
s
o
m
e
s
t
a
n
d
i
n
g
w
a
t
e
r
o
n
r
o
a
d
e
d
g
e
s
a
n
d
a
t
in
t
e
r
s
e
c
t
i
o
n
s
Ex
p
a
n
s
i
o
n
o
f
s
y
s
t
e
m
n
e
e
d
e
d
Co
o
r
d
i
n
a
t
i
o
n
w
i
t
h
w
a
t
e
r
a
n
d
s
e
w
e
r
re
p
l
a
c
e
m
e
n
t
Pr
o
p
o
s
e
d
I
m
p
r
o
v
e
m
e
n
t
s
Re
m
o
v
e
a
n
d
R
e
p
l
a
c
e
S
t
o
r
m
St
r
u
c
t
u
r
e
s
a
n
d
P
i
p
e
A
s
N
e
e
d
e
d
Ex
t
e
n
d
n
e
w
c
a
t
c
h
b
a
s
i
n
s
a
n
d
s
t
o
r
m
se
w
e
r
p
i
p
e
w
h
e
r
e
f
e
a
s
i
b
l
e
Wa
t
e
r
q
u
a
l
i
t
y
t
r
e
a
t
m
e
n
t
:
s
u
m
p
ca
t
c
h
b
a
s
i
n
s
,
r
a
i
n
g
a
r
d
e
n
s
,
o
t
h
e
r
im
p
r
o
v
e
m
e
n
t
s
w
h
e
r
e
f
e
a
s
i
b
l
e
Pa
v
e
m
e
n
t
C
o
n
d
i
t
i
o
n
v
s
.
D
r
a
i
n
a
g
e
(
T
y
p
i
c
a
l
)
Pa
v
e
m
e
n
t
C
o
n
d
i
t
i
o
n
Su
b
g
r
a
d
e
(
F
o
u
n
d
a
t
i
o
n
)
Co
n
d
i
t
i
o
n
–
g
o
o
d
c
o
n
d
i
t
i
o
n
Dr
a
i
n
a
g
e
i
s
s
u
e
s
Ma
t
e
r
i
a
l
D
e
t
e
r
i
o
r
a
t
i
o
n
St
r
e
e
t
R
e
c
o
n
s
t
r
u
c
t
i
o
n
Pr
o
p
o
s
e
d
I
m
p
r
o
v
e
m
e
n
t
s
Ne
w
C
u
r
b
a
n
d
G
u
t
t
e
r
Fu
l
l
D
e
p
t
h
P
a
v
e
m
e
n
t
a
n
d
Ag
g
r
e
g
a
t
e
B
a
s
e
Re
c
o
n
s
t
r
u
c
t
i
o
n
3
0
f
e
e
t
w
i
d
e
fo
r
a
l
l
s
t
r
e
e
t
e
x
c
e
p
t
L
i
l
a
c
Dr
i
v
e
Re
c
o
n
s
t
r
u
c
t
i
o
n
L
i
l
a
c
D
r
i
v
e
28
f
e
e
t
w
i
d
e
(
D
u
p
o
n
t
A
v
e
t
o
Br
y
a
n
t
A
v
e
)
Si
d
e
w
a
l
k
Im
p
r
o
v
e
m
e
n
t
s
Re
p
l
a
c
e
P
e
d
e
s
t
r
i
a
n
C
u
r
b
Ra
m
p
s
a
t
E
x
i
s
t
i
n
g
Si
d
e
w
a
l
k
s
o
n
5
9
th
Av
e
a
n
d
Du
p
o
n
t
A
v
e
a
s
n
e
e
d
e
d
Po
t
e
n
t
i
a
l
n
e
w
6
’
c
o
n
c
r
e
t
e
si
d
e
w
a
l
k
a
l
o
n
g
n
o
r
t
h
s
i
d
e
of
6
2
nd
Av
e
f
r
o
m
D
u
p
o
n
t
Av
e
t
o
L
y
n
d
a
l
e
A
v
e
Ci
t
y
P
o
l
i
c
i
e
s
a
n
d
S
t
u
d
i
e
s
Ex
i
s
t
i
n
g
C
o
n
d
i
t
i
o
n
s
a
n
d
P
r
o
p
o
s
e
d
I
m
p
r
o
v
e
m
e
n
t
s
Ex
i
s
t
i
n
g
C
o
n
d
i
t
i
o
n
s
a
n
d
P
r
o
p
o
s
e
d
I
m
p
r
o
v
e
m
e
n
t
s
Ex
i
s
t
i
n
g
C
o
n
d
i
t
i
o
n
s
a
n
d
P
r
o
p
o
s
e
d
I
m
p
r
o
v
e
m
e
n
t
s
Re
s
t
o
r
a
t
i
o
n
Re
s
t
o
r
a
t
i
o
n
Dr
i
v
e
w
a
y
s
t
h
a
t
a
r
e
d
i
s
t
u
r
b
e
d
d
u
e
t
o
t
h
e
st
r
e
e
t
r
e
c
o
n
s
t
r
u
c
t
i
o
n
w
i
l
l
b
e
r
e
p
l
a
c
e
d
.
Di
s
t
u
r
b
e
d
b
o
u
l
e
v
a
r
d
a
r
e
a
s
w
i
l
l
b
e
re
s
t
o
r
e
d
w
i
t
h
t
o
p
s
o
i
l
a
n
d
s
o
d
.
Tr
e
e
r
e
p
l
a
c
e
m
e
n
t
o
n
1
:
1
r
a
t
i
o
i
n
f
a
l
l
St
r
e
e
t
L
i
g
h
t
i
n
g
Re
p
l
a
c
e
1
1
F
r
e
e
-
S
t
a
n
d
i
n
g
St
r
e
e
t
L
i
g
h
t
s
w
i
t
h
F
i
b
e
r
g
l
a
s
s
Po
l
e
s
a
n
d
L
E
D
l
i
g
h
t
f
i
x
t
u
r
e
s
Ex
i
s
t
i
n
g
L
i
g
h
t
s
o
n
M
u
l
t
i
-
U
s
e
Po
l
e
s
t
o
R
e
m
a
i
n
Pu
b
l
i
c
R
i
g
h
t
-
o
f
-
W
a
y
Ri
g
h
t
-
o
f
-
w
a
y
a
n
d
e
a
s
e
m
e
n
t
s
ar
e
d
e
d
i
c
a
t
e
d
t
o
t
h
e
p
u
b
l
i
c
f
o
r
co
n
s
t
r
u
c
t
i
o
n
a
n
d
m
a
i
n
t
e
n
a
n
c
e
of
s
t
r
e
e
t
s
a
n
d
u
t
i
l
i
t
i
e
s
De
l
i
n
e
a
t
e
d
o
n
s
u
b
d
i
v
i
s
i
o
n
pl
a
t
s
.
Ty
p
i
c
a
l
r
i
g
h
t
-
o
f
-
w
a
y
w
i
d
t
h
60
’
f
o
r
I
n
t
e
r
s
t
a
t
e
A
r
e
a
Ri
g
h
t
-
o
f
-
w
a
y
e
d
g
e
i
s
ap
p
r
o
x
.
1
5
’
b
e
y
o
n
d
t
h
e
ed
g
e
o
f
s
t
r
e
e
t
p
a
v
e
m
e
n
t
/
ba
c
k
o
f
c
u
r
b
.
Du
r
i
n
g
C
o
n
s
t
r
u
c
t
i
o
n
-
I
n
c
o
n
v
e
n
i
e
n
c
e
Pr
e
l
i
m
i
n
a
r
y
P
r
o
j
e
c
t
B
u
d
g
e
t
CI
P
–
E
s
t
.
P
e
r
c
e
n
t
P
r
o
j
e
c
t
A
m
o
u
n
t
T
o
t
a
l
Sp
e
c
i
a
l
A
s
s
e
s
s
m
e
n
t
s
$
1
,
4
6
0
,
4
3
0
.
0
0
1
3
.
9
%
Sa
n
i
t
a
r
y
S
e
w
e
r
U
t
i
l
i
t
y
$
1
,
7
5
0
,
0
0
0
.
0
0
1
6
.
7
%
Wa
t
e
r
U
t
i
l
i
t
y
$
2
,
1
0
0
,
0
0
0
.
0
0
2
0
.
0
%
St
o
r
m
D
r
a
i
n
a
g
e
U
t
i
l
i
t
y
$
1
,
6
6
2
,
9
5
9
.
0
0
1
5
.
8
%
St
r
e
e
t
L
i
g
h
t
U
t
i
l
i
t
y
$
9
0
,
0
0
0
.
0
0
0
.
9
%
St
r
e
e
t
R
e
c
o
n
s
t
r
u
c
t
i
o
n
F
u
n
d
$
3
,
4
2
6
,
6
1
1
.
0
0
3
2
.
7
%
To
t
a
l
$
1
0
,
4
9
0
,
0
0
0
.
0
0
1
0
0
%
No
t
e
:
T
h
e
s
e
a
r
e
o
n
l
y
p
r
e
l
i
m
i
n
a
r
y
e
s
t
i
m
a
t
e
d
a
m
o
u
n
t
s
Pr
e
l
i
m
i
n
a
r
y
As
s
e
s
s
m
e
n
t
A
r
e
a
Sp
e
c
i
a
l
A
s
s
e
s
s
m
e
n
t
s
-
E
s
t
i
m
a
t
e
d
A
m
o
u
n
t
s
&
Pa
y
m
e
n
t
O
p
t
i
o
n
s
Fu
l
l
S
t
r
e
e
t
R
e
c
o
n
s
t
r
u
c
t
i
o
n
w
i
t
h
N
e
w
C
u
r
b
a
n
d
G
u
t
t
e
r
20
1
8
A
s
s
e
s
s
m
e
n
t
R
a
t
e
s
f
o
r
R
1
p
r
o
p
e
rt
i
e
s
:
$
4
,
6
2
3
(
s
t
r
e
e
t
)
+
$
1
,
3
87
(
d
r
a
i
n
a
g
e
)
=
$6
,
0
1
0
Su
b
-
d
i
v
i
s
i
b
l
e
R
1
p
r
o
p
e
r
t
i
e
s
t
o
b
e
c
h
a
r
g
e
d
f
o
r
a
d
d
i
t
i
o
n
a
l
p
r
o
p
e
r
ty
20
1
9
I
n
t
e
r
e
s
t
R
a
t
e
:
5
.
0
%
1.
Pa
y
i
n
f
u
l
l
-
N
o
i
n
t
e
r
e
s
t
b
e
t
w
e
e
n
Ma
r
c
h
a
n
d
S
ep
t
e
m
b
e
r
3
0
,
2
0
1
9
2.
Pa
y
i
n
f
u
l
l
f
r
o
m
O
c
t
o
b
e
r
1
t
o
N
o
ve
m
b
e
r
2
0
,
2
0
1
9
,
w
i
t
h
i
n
t
e
r
e
s
t
fr
o
m
O
c
t
o
b
e
r
1
3.
Pa
y
i
n
i
n
s
t
a
l
l
m
e
n
t
s
w
i
t
h
p
r
o
p
e
r
t
y
t
a
x
e
s
o
v
e
r
a
1
0
-
y
e
a
r
p
e
r
i
o
d
s
ta
r
t
i
n
g
i
n
2
0
2
0
Pa
r
t
i
a
l
p
r
e
p
a
y
m
e
n
t
s
c
a
n
n
o
t
b
e
a
c
c
e
p
t
e
d
If
a
p
r
o
j
e
c
t
i
s
a
p
p
r
o
v
e
d
a
n
A
ss
e
s
s
m
e
n
t
R
e
m
i
n
d
e
r
L
e
t
t
e
r
w
i
l
l
b
e
se
n
t
Es
t
i
m
a
t
e
d
P
a
y
m
e
n
t
A
m
o
u
n
t
No
t
e
:
T
h
e
s
e
a
r
e
o
n
l
y
p
r
e
l
i
m
i
n
a
r
y
e
s
t
i
m
a
t
e
d
a
m
o
u
n
t
s
–
t
h
e
s
e
am
o
u
n
t
s
w
i
l
l
c
h
a
n
g
e
d
e
p
e
n
d
e
n
t
o
n
w
h
e
n
i
n
t
e
r
e
s
t
s
t
a
r
t
s
ac
c
r
u
i
n
g
.
A
p
p
r
o
x
i
m
a
t
e
m
o
n
t
h
l
y
p
a
y
m
e
n
t
r
a
n
g
e
s
f
r
o
m
$
5
3
-
$
8
2
.
Pr
e
l
i
m
i
n
a
r
y
P
r
o
j
e
c
t
S
c
h
e
d
u
l
e
Ne
i
g
h
b
o
r
h
o
o
d
I
n
f
o
r
m
a
t
i
o
n
M
e
e
t
i
n
g
O
c
t
o
b
e
r
2
4
,
2
0
1
8
Co
u
n
c
i
l
R
e
c
e
i
v
e
s
F
e
a
s
i
b
i
l
i
t
y
R
e
p
o
r
t
N
o
v
e
m
b
e
r
1
3
,
2
0
1
8
Co
n
d
u
c
t
P
u
b
l
i
c
H
e
a
r
i
n
g
/
O
r
d
e
r
P
l
a
n
s
D
e
c
e
m
b
e
r
1
0
,
2
0
1
8
Ap
p
r
o
v
e
P
l
a
n
s
/
A
d
v
e
r
t
i
s
e
fo
r
B
i
d
s
F
e
b
r
u
a
r
y
2
0
1
9
Ac
c
e
p
t
B
i
d
s
/
A
w
a
r
d
P
r
o
je
c
t
M
a
r
c
h
/
A
p
r
i
l
2
0
1
9
Be
g
i
n
C
o
n
s
t
r
u
c
t
i
o
n
A
p
r
i
l
2
0
1
9
Su
b
s
t
a
n
t
i
a
l
C
o
m
p
l
e
t
i
o
n
O
c
t
o
b
e
r
2
0
1
9
Tr
e
e
R
e
p
l
a
c
e
m
e
n
t
s
F
a
l
l
2
0
1
9
St
a
f
f
R
e
c
o
m
m
e
n
d
a
t
i
o
n
s
:
-
A
u
t
h
o
r
i
z
e
P
r
o
j
e
c
t
-
C
e
r
t
i
f
y
S
p
e
c
i
a
l
A
s
s
e
s
s
m
e
n
t
s
De
c
e
m
b
e
r
1
0
,
2
0
1
8
Ci
t
y
o
f
B
r
o
o
k
l
y
n
C
e
n
t
e
r
In
t
e
r
s
t
a
t
e
A
r
e
a
St
r
e
e
t
a
n
d
U
t
i
l
i
t
y
I
m
p
r
o
v
e
m
e
n
t
s
(
2
0
1
9
)
! !" ##
$ % &'
!(!)&&
#$'"'*+& "
'+,'
&
*
"&'! -'#-.#/"0
&-,-
&
&$
& !012 /00*! ,&+"
!(!
3#
"'*+!"&" '"#
,&/-*"+!$#
!&" ,"&4! &0#!"&/" 0 0*'+ !
#&4! &0#!5
!
!"
#
$
%&'#
(
#
)
#
)
*
6,"-&!0!&7
&"
!(+,! +8' +!&&
#+
#"
9"&+#!*,0*,"7
00+ -'#&"9
'"5
-'#&
++"9''4!,"*'0,'#":;2 *
!8'
5
#9
6,"-&!0&
9,"00'#+#"
*
9"0.#
+#'4!!00'#9'+5 &++"9"!**4"!00'#"##
!,&!#&+!! <&#"
"9",&*
"'&5
",&*
"'&#'
"
!0.#&9#,09'4!!*''"*'0,0'&"9.#*&+! "+!
!9!"4!#!!0.#&'#"5
!0.#&&+! !! 4&!&"*'0"*'04!#!4
#,0',&"*'0,0'&0'#+! 5 )& '& ! <& &&&
9
&&& 30&& '#& 4! ! 4! # 9 &!4 ! &
#! 4
'" !*
&
9&'+*9',0#,0',39&9!5
&'
&!0
9'#!+#,9 !
4&00*"9
#'
*,91
5
!&'
!(&,3,
,0#0',
+!"&9&&
"+#!
0.#+=>; 5
9+0&!0#&&"0.#4''90&"&"
#!0
9'#!5&
0+!"
#?'&!@#-&"+
&*'0,+! ,,
&
*'0, 0A0& -'#B4''0&040!00&"+#"
0.#5
!'",&*+!! 4''#*+!&&
#4''9003,'=2:; 5!
"&4''#&
#!'#
,9#''7
9'
000+8'
5!&&
#+!"&4''++#! <&#"5
!
" "*'0,
Y-6%%5
&RXQFLO0HPEHUL Q W URGXFHG WKH IROORZLQJ UHVROXWLRQ
DQGPRYHGLWVDGRSWLRQ
5(62/87,21BBBBBBBBBBB
$87+25,=,1*7+(,668$1&(6$/($1''(/,9(5<2),76&21'8,7
08/7,)$0,/<+286,1*5(9(18(%21'65(/$7,1*727+(81,7<
3/$&(352-(&7 $'237,1*$+286,1*352*5$038568$1772
0,11(627$67$787(6&+$37(5& $33529,1*7+()25062)
$1'$87+25,=,1*7+((;(&87,21$1''(/,9(5<2)7+(%21'6
$1'5(/$7(''2&80(176 3529,',1*)257+(6(&85,7<5,*+76
$1'5(0(',(6:,7+5(63(&7727+(%21'6 $1'*5$17,1*
$33529$/)25&(57$,127+(5$&7,216:,7+5(63(&77+(5(72
:+(5($6WKH&LW\RI%URRNO\Q&HQWHU0LQQHVRWD WKH³&LW\´ LVDKRPHUXOHFKDUWHUFLW\GXO\
RUJDQL]HGDQGH[LVWLQJXQGHULWV&KDUWHUDQGWKH&RQVWLWXWLRQDQGODZVRIWKH6WDWHRI0LQQHVRWD DQG
:+(5($6SXUVXDQWWR0LQQHVRWD6WDWXWHV&KDSWHU&DVDPHQGHG WKH³$FW´ WKH&LW\LV
DXWKRUL]HGWRFDUU\RXWWKHSXEOLFSXUSRVHVGHVFULEHGLQWKH$FWE\LVVXLQJUHYHQXHERQGVDQGQRWHVRU
RWKHUREOLJDWLRQVWRILQDQFHRUUHILQDQFHPXOWLIDPLO\KRXVLQJGHYHORSPHQWVORFDWHGZLWKLQWKH&LW\DQG
DV D FRQGLWLRQ WR WKH LVVXDQFH RI VXFK UHYHQXH REOLJDWLRQV DGRSW D KRXVLQJ SURJUDP SURYLGLQJ WKH
LQIRUPDWLRQUHTXLUHGE\6HFWLRQ&VXEGLYLVLRQDRIWKH$FW DQG
:+(5($6LQWKHLVVXDQFHRIWKH&LW\¶VUHYHQXHREOLJDWLRQVDQGLQWKHPDNLQJRIDORDQWR
ILQDQFHDPXOWLIDPLO\KRXVLQJGHYHORSPHQWWKH&LW\PD\H[HUFLVHZLWKLQLWVFRUSRUDWHOLPLWVDQ\RIWKH
SRZHUVWKDWWKH0LQQHVRWD+RXVLQJ)LQDQFH$JHQF\PD\H[HUFLVHXQGHU0LQQHVRWD6WDWXWHV&KDSWHU
$ DV DPHQGHG ZLWKRXW OLPLWDWLRQ XQGHU WKH SURYLVLRQV RI 0LQQHVRWD 6WDWXWHV &KDSWHU DV
DPHQGHG DQG
:+(5($6 8QLW\ /LPLWHG 3DUWQHUVKLS D 0LQQHVRWD OLPLWHG SDUWQHUV K L S R U R Q H R U P R U H
DIILOLDWHGHQWLWLHVWREHFUHDWHGFROOHFWLYHO\WKH³%RUURZHU´ KDVUHTXHVWHGWKDWWKH&LW\LVVXHLWVUHYHQXH
ERQGVSXUVXDQWWRWKH$FWLQDQDJJUHJDWHDPRXQWQRWWRH[FHHGLQRQHRUPRUHVHULHVDW
RQHWLPHRUIURPWLPHWRWLPH WKH³%RQGV´ DQGOHQGWKHSURFHHGVWKHUHRIWRWKH%RUURZHUWR L ILQDQFH
WKH DFTXLVLWLRQ UHQRYDWLRQ FRQVWUXFWLRQ DQG HTXLSSLQJ RI DQDSSUR[LPDWHO\ XQLW UHQWDO KRXVLQJ
IDFLOLW\DQGUHODWHGDPHQLWLHVORFDWHGDW8QLW\$YHQXH1RUWKLQWKH&LW\ WKH³3URMHFW´ LL IXQGRQH
RUPRUHUHVHUYHIXQGVWRVHFXUHWKHWLPHO\SD\PHQWRIWKH%RQGVLIQHFHVVDU\ LLL SD\LQWHUHVWRQWKH
%RQGVGXULQJWKHUHQRYDWLRQRIWKH3URMHFWLIQHFHVVDU\ DQG LY SD\WKHFRVWVRILVVXLQJWKH%RQGV DQG
:+(5($6 RQ 1RYHPEHU WKH &LW\ &RXQFLO DGRSWHG D SUHOLPLQDU\ UHVROXWLRQ WKH
³3UHOLPLQDU\5HVROXWLRQ´ ZKLFKFRQVWLWXWHVDUHLPEXUVHPHQWUHVROXWLRQDQGDQRIILFLDOLQWHQWRIWKH&LW\
WRUHLPEXUVHH[SHQGLWXUHVZLWKUHVSHFWWRWKH3URMHFWIURPWKHSURFHHGVRIWD[H[HPSWUHYHQXHERQGVLQ
DFFRUGDQFHZLWKWKHSURYLVLRQVRI7UHDVXU\5HJXODWLRQV6HFWLRQ DQG
:+(5($6 WKH ,VVXHU LV VHHNLQJ DOORFDWLRQ RI WKH ERQGLQJ DXWKRULW\ IURP 0LQQHVRWD
0DQDJHPHQWDQG%XGJHW ³00%´ DOORFDWLQJYROXPHFDSERQGLQJDXWKRULW\WRWKH&LW\LQWKHDPRXQWRI
IRULVVXDQFHRIWKH%RQGVDQGQR%RQGVZLOOEHLVVXHGXQWLOWKH&LW\UHFHLYHVDQDOORFDWLRQRI
WKHERQGLQJDXWKRULW\ DQG
:+(5($6WKH&LW\KDVSUHSDUHGDKRXVLQJSURJUDPSURYLGLQJWKHLQIRUPDWLRQUHTXLUHGE\
6HFWLRQ&VXEGLYLVLRQDRIWKH$FW WKH³+RXVLQJ3URJUDP´ UHJDUGLQJWKHLVVXDQFHE\WKH&LW\
Y-6%%5
RIRQHRUPRUHUHYHQXHREOLJDWLRQVLQWKHPD[LPXPSULQFLSDODPRXQWRIWRILQDQFHWKH
DFTXLVLWLRQUHQRYDWLRQFRQVWUXFWLRQDQGHTXLSSLQJRIWKH3URMHFW DQG
:+(5($6DQRWLFHRISXEOLFKHDULQJ WKH³3XEOLF1RWLFH´ ZDVSXEOLVKHGLQDFFRUGDQFHZLWK
WKH$FWDQG6HFWLRQ I RIWKH,QWHUQDO5HYHQXH&RGHRI DVDPHQGHG WKH³&RGH´ ZLWKUHVSHFW
WR L WKHUHTXLUHGSXEOLFKHDULQJXQGHUWKH&RGH LL WKHUHTXLUHGSXEOLFKHDULQJXQGHU6HFWLRQ&
VXEGLYLVLRQRIWKH$FW LLL WKH+RXVLQJ3URJUDP DQG LY DSSURYDORIWKHLVVXDQFHRIWKH1RWHDQGRQ
WKLVVDPHGDWHWKH&LW\&RXQFLOFRQGXFWHGDSXEOLFKHDULQJRQWKHGDWHKHUHRIDWZKLFKDUHDVRQDEOH
RSSRUWXQLW\ZDVSURYLGHGIRULQWHUHVWHGLQGLYLGXDOVWRH[SUHVVWKHLUYLHZVERWKRUDOO\DQGLQZULWLQJ DQG
:+(5($6WKH%RQGVZLOOEHLVVXHGSXUVXDQWWRWKLV5HVROXWLRQDQGWKH%RQGVDQGWKHLQWHUHVW
RQWKH%RQGV L VKDOOEHSD\DEOHVROHO\IURPWKHUHYHQXHVSOHGJHGWKHUHIRUXQGHUWKH/RDQ$JUHHPHQW
DQGWKH,QGHQWXUH LL VKDOOQRWFRQVWLWXWHDGHEWRIWKH&LW\ZLWKLQWKHPHDQLQJRIDQ\FRQVWLWXWLRQDORU
VWDWXWRU\OLPLWDWLRQ LLL VKDOOQRWFRQVWLWXWHQRUJLYHULVHWRDSHFXQLDU\OLDELOLW\RIWKH&LW\RUDFKDUJH
DJDLQVWLWVJHQHUDOFUHGLWRUWD[LQJSRZHUV LY VKDOOQRWFRQVWLWXWHDFKDUJHOLHQRUHQFXPEUDQFHOHJDORU
HTXLWDEOH XSRQ DQ\ SURSHUW\ RI WKH &LW\ RWKHU WKDQ WKH &LW\¶VLQWHUHVW LQ WKH /RDQ $JUHHPHQW DQG
Y VKDOOQRWFRQVWLWXWHDJHQHUDORUPRUDOREOLJDWLRQRIWKH&LW\ DQG
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLO WKH³&RXQFLO´ RIWKH&LW\RI
%URRNO\Q&HQWHU0LQQHVRWD WKH³&LW\´ DVIROORZV
)LQGLQJV7KH&LW\DFNQRZOHGJHVILQGVGHWHUPLQHVDQGGHFODUHVWKDWWKHLVVXDQFHRIWKH
%RQGVLVDXWKRUL]HGE\WKH$FWDQGLVFRQVLVWHQWZLWKWKHSXUSRVHVRIWKH$FWDQGWKDWWKHLVVXDQFHRIWKH
%RQGVDQGWKHRWKHUDFWLRQVRIWKH&LW\XQGHUWKH,QGHQWXUHWKH/RDQ$JUHHPHQWDQGWKLVUHVROXWLRQ
FRQVWLWXWHDSXEOLFSXUSRVHDQGDUHLQWKHLQWHUHVWVRIWKH&LW\7KH3URMHFWFRQVWLWXWHVD³TXDOLILHG
UHVLGHQWLDOUHQWDOSURMHFW´ZLWKLQWKHPHDQLQJRI6HFWLRQ G RIWKH&RGHDQGD³PXOWLIDPLO\KRXVLQJ
GHYHORSPHQW´DXWKRUL]HGE\WKH$FWDQGIXUWKHUVWKHSXUSRVHVRIWKH$FW,QDXWKRUL]LQJWKHLVVXDQFHRI
WKH%RQGVIRUWKHILQDQFLQJRIWKH3URMHFWDQGWKHUHODWHGFRVWVWKH&LW\¶VSXUSRVHLVDQGWKHHIIHFWWKHUHRI
ZLOOEHWRSURPRWHWKHSXEOLFZHOIDUHRIWKH&LW\DQGLWVUHVLGHQWVE\SURYLGLQJRUSUHVHUYLQJDIIRUGDEOH
PXOWLIDPLO\ KRXVLQJ GHYHORSPHQWV IRU ORZ RU PRGHUDWH LQFRPH UHVLGHQWV RI WKH &LW\ DQG RWKHUZLVH
IXUWKHULQJWKHSXUSRVHVDQGSROLFLHVRIWKH$FW
)LQDQFLQJ6WUXFWXUH7KH%RUURZHUKDVUHTXHVWHGWKDWWKH&LW\LVVXHVHOODQGGHOLYHUWKH
%RQGVSXUVXDQWWRD7UXVW,QGHQWXUHGDWHGRQRUDIWHU-DQXDU\ WKH³,QGHQWXUH´ EHWZHHQWKH
,VVXHUDQG86%DQN1DWLRQDO$VVRFLDWLRQ WKH³7UXVWHH´ DVWKH0XOWLIDPLO\+RXVLQJ5HYHQXH%RQGV
8QLW\3ODFH3URMHFW 6HULHV WREHSXUFKDVHGE\'RXJKHUW\ &RPSDQ\//& WKH³8QGHUZULWHU´
SXUVXDQWWRWKH%RQG3XUFKDVH$JUHHPHQWGDWHGRQRUDIWHUWKHGDWHWKLV5HVROXWLRQLVDSSURYHG WKH
³%RQG3XUFKDVH$JUHHPHQW´ DPRQJWKH8QGHUZULWHUWKH&LW\DQGWKH%RUURZHUDQGWKHSURFHHGV
GHULYHGIURPWKHVDOHRIWKH%RQGVZLOOEHORDQHGE\WKH&LW\WRWKH%RUURZHUWRILQDQFHDSRUWLRQRIWKH
FRVWRIWKH3URMHFWSXUVXDQWWRWKHWHUPVRID/RDQ$JUHHPHQWGDWHGRQRUDIWHU-DQXDU\ E\DQG
EHWZHHQWKH%RUURZHUDQGWKH&LW\ WKH³/RDQ$JUHHPHQW´ 3XUVXDQWWRWKH/RDQ$JUHHPHQWWKH&LW\
ZLOOORDQWKHSURFHHGVRIWKH%RQGVWRWKH%RUURZHU7KHSD\PHQWVWREHPDGHE\WKH%RUURZHUXQGHU
WKH/RDQ$JUHHPHQWDUHIL[HGVRDVWRSURGXFHUHYHQXHVXIILFLHQWWRSD\WKHSULQFLSDORISUHPLXPLIDQ\
DQGLQWHUHVWRQWKH%RQGVZKHQGXH:KHQH[HFXWHGWKHULJKWWLWOHDQGLQWHUHVWRIWKH&LW\LQWRDQG
XQGHUDPRQJRWKHUWKLQJVWKH/RDQ$JUHHPHQW H[FHSWDVWKHUHLQSURYLGHG ZLOOEHDVVLJQHGWRWKH
7UXVWHHSXUVXDQWWRWKH,QGHQWXUH7KH%RQGVVKDOOEHDULQWHUHVWDWWKHUDWHVVKDOOEHQXPEHUHGVKDOOEH
GDWHGVKDOOPDWXUHVKDOOEHVXEMHFWWRUHGHPSWLRQSULRUWRPDWXULW\DQGVKDOOEHLQVXFKIRUPDQGKDYH
VXFKRWKHUGHWDLOVDQGSURYLVLRQVDVPD\EHSUHVFULEHGLQWKH,QGHQWXUHDVH[HFXWHGLQDFFRUGDQFHZLWK
6HFWLRQVDQG7KH7UXVWHHLVKHUHE\DSSRLQWHGDVWKH3D\LQJ$JHQWDQGWKH%RQG5HJLVWUDUIRUWKH
%RQGV
Y-6%%5
$XWKRUL]DWLRQRI%RQGV6XEMHFWWRUHFHLYLQJDOORFDWLRQRIWKHERQGLQJDXWKRULW\IURP
00%IRUWKHSXUSRVHVVHWIRUWKDERYHWKHUHLVKHUHE\DXWKRUL]HGWKHLVVXDQFHVDOHDQGGHOLYHU\RIWKH
%RQGVLQRQHRUPRUHVHULHVLQDSULQFLSDODPRXQWQRWWRH[FHHGWKHOHVVHURIRUWKHDPRXQW
RIERQGLQJDXWKRULW\DOORFDWHGWRWKH&LW\E\00%7KH%RQGVVKDOOEHDULQWHUHVWDWWKHUDWHVVKDOOEH
GHVLJQDWHGVKDOOEHQXPEHUHGVKDOOEHGDWHGVKDOOPDWXUHVKDOOEHLQWKHDJJUHJDWHSULQFLSDODPRXQW
VKDOOEHVXEMHFWWRUHGHPSWLRQSULRUWRPDWXULW\VKDOOEHLQVXFKIRUPDQGVKDOOKDYHVXFKRWKHUWHUPV
GHWDLOVDQGSURYLVLRQVDVDUHSUHVFULEHGLQWKH,QGHQWXUHLQVXEVWDQWLDOO\WKHIRUPQRZRQILOHZLWKWKH
&LW\ZLWKDQ\QHFHVVDU\DQGDSSURSULDWHYDULDWLRQVRPLVVLRQVDQGLQVHUWLRQV LQFOXGLQJFKDQJHVWRWKH
DJJUHJDWHSULQFLSDODPRXQWRIWKH%RQGVWKHVWDWHGPDWXULW\RIWKH%RQGVWKHLQWHUHVWUDWHRUUDWHVRQWKH
%RQGVDQGWKHWHUPVRIUHGHPSWLRQRIWKH%RQGV DVDUHDSSURYHGDVHYLGHQFHGE\WKHH[HFXWLRQWKHUHRI
DVSURYLGHGLQ6HFWLRQVDQG6XEMHFWWRUHFHLYLQJDOORFDWLRQRIWKHERQGLQJDXWKRULW\IURP00%WKH
&LW\KHUHE\DXWKRUL]HVWKH%RQGVWREHLVVXHGLQZKROHRULQSDUWDV³WD[H[HPSWERQGV´WKHLQWHUHVWRQ
ZKLFKLVH[FOXGDEOHIURPJURVVLQFRPHIRUIHGHUDODQG6WDWHRI0LQQHVRWDLQFRPHWD[SXUSRVHV SURYLGHG
WKDWLIQHFHVVDU\FHUWDLQ%RQGVPD\EHLVVXHGDVWD[DEOHREOLJDWLRQV
7KH&RXQFLOKHUHE\DXWKRUL]HVDQGGLUHFWVWKHH[HFXWLRQRIWKH%RQGVLQDFFRUGDQFHZLWKWKH
WHUPVRIWKH,QGHQWXUHDQGKHUHE\SURYLGHVWKDWWKH,QGHQWXUHVKDOOSURYLGHWKHWHUPVDQGFRQGLWLRQV
FRYHQDQWVULJKWVREOLJDWLRQVGXWLHVDQGDJUHHPHQWVRIWKHRZQHUVRIWKH%RQGVWKH&LW\DQGWKH
7UXVWHHDVVHWIRUWKWKHUHLQ7KH7UXVWHHLVKHUHE\DSSRLQWHGDVWKH3D\LQJ$JHQWDQGWKH%RQG5HJLVWUDU
IRUWKH%RQGV
$OORIWKHSURYLVLRQVRIWKH%RQGVZKHQH[HFXWHGDVDXWKRUL]HGKHUHLQVKDOOEHGHHPHGWREHD
SDUWRIWKLV5HVROXWLRQDVIXOO\DQGWRWKHVDPHH[WHQWDVLILQFRUSRUDWHGYHUEDWLPKHUHLQDQGVKDOOEHLQ
IXOOIRUFHDQGHIIHFWIURPWKHGDWHRIH[HFXWLRQDQGGHOLYHU\WKHUHRI7KH%RQGVVKDOOEHVXEVWDQWLDOO\LQ
WKHIRUPLQWKH,QGHQWXUHRQILOHZLWKWKH&LW\ZKLFKIRUPLVKHUHE\DSSURYHGZLWKVXFKQHFHVVDU\DQG
DSSURSULDWHYDULDWLRQVRPLVVLRQVDQGLQVHUWLRQV LQFOXGLQJFKDQJHVWRWKHDJJUHJDWHSULQFLSDODPRXQWRI
WKH%RQGVWKHVWDWHGPDWXULWLHVRIWKH%RQGVWKHLQWHUHVWUDWHVRQWKH%RQGVDQGWKHWHUPVRIUHGHPSWLRQ
RI WKH %RQGV DV WKH 0D\RU DQG WKH &LW\ 0DQDJHU WKH ³&LW\ 2IILFLDOV´ LQ WKHLU GLVFUHWLRQ VKDOO
GHWHUPLQH7KHH[HFXWLRQRIWKH%RQGVZLWKWKHPDQXDORUIDFVLPLOHVLJQDWXUHVRIWKH&LW\2IILFLDOVDQG
WKHGHOLYHU\RIWKH%RQGVE\WKH&LW\VKDOOEHFRQFOXVLYHHYLGHQFHRIVXFKGHWHUPLQDWLRQ
/LPLWDWLRQRI/LDELOLW\7KH%RQGVVKDOOEHVSHFLDOOLPLWHGUHYHQXHREOLJDWLRQVRIWKH
&LW\SD\DEOHVROHO\IURPWKHUHYHQXHVSURYLGHGE\WKH%RUURZHUSXUVXDQWWRWKH/RDQ$JUHHPHQWDQG
RWKHUIXQGVSOHGJHGSXUVXDQWWRWKHDSSOLFDEOH)LQDQFLQJ'RFXPHQWV WKH&LW\GRHVQRWSOHGJHLWVJHQHUDO
FUHGLWRUWD[LQJSRZHUVRUDQ\IXQGVRIWKH&LW\WRWKHSD\PHQWRIWKH%RQGV
1RSURYLVLRQFRYHQDQWRUDJUHHPHQWFRQWDLQHGLQWKHDIRUHPHQWLRQHGGRFXPHQWVWKH%RQGVRU
LQDQ\RWKHUGRFXPHQWUHODWLQJWRWKH%RQGVDQGQRREOLJDWLRQWKHUHLQRUKHUHLQLPSRVHGXSRQWKH&LW\RU
WKH EUHDFK WKHUHRI VKDOO FRQVWLWXWH RU JLYH ULVH WR D JHQHUDOR U P R U D O R E O L J D W L R Q R I W K H & L W \ R U D Q \
SHFXQLDU\OLDELOLW\RIWKH&LW\RUDQ\FKDUJHXSRQLWVJHQHUDOFUHGLWRUWD[LQJSRZHUV,QPDNLQJWKH
DJUHHPHQWVSURYLVLRQVFRYHQDQWVDQGUHSUHVHQWDWLRQVVHWIRUWKLQVXFKGRFXPHQWVWKH&LW\KDVQRW
REOLJDWHGLWVHOIWRSD\RUUHPLWDQ\IXQGVRUUHYHQXHVRWKHUWKDQIXQGVDQGUHYHQXHVGHULYHGIURPWKH
/RDQ$JUHHPHQWZKLFKDUHWREHDSSOLHGWRWKHSD\PHQWRIWKH%RQGVDVSURYLGHGWKHUHLQDQGDVDVVLJQHG
WRWKH7UXVWHHXQGHUWKH,QGHQWXUH
$SSURYDO RI +RXVLQJ 3URJUDP &RPSOLDQFH ZLWK &HUWDLQ 5HQWDO DQG 2FFXSDQF\
5HVWULFWLRQVDVWRWKH3URMHFW7KH+RXVLQJ3URJUDPLVKHUHE\DGRSWHGUDWLILHGDQGDSSURYHGLQDOO
UHVSHFWVZLWKRXWDPHQGPHQW7KH&LW\0DQDJHULVKHUHE\DXWKRUL]HGWRGRDOORWKHUWKLQJVDQGWDNHDOO
RWKHUDFWLRQVDVPD\EHQHFHVVDU\RUDSSURSULDWHWRFDUU\RXWWKH+RXVLQJ3URJUDPLQDFFRUGDQFHZLWKWKH
$FW DQG DQ\ RWKHU DSSOLFDEOH ODZV DQG UHJXODWLRQV 7R HQVXUH FRPSOLDQFH ZLWK FHUWDLQ UHQWDO DQG
RFFXSDQF\UHVWULFWLRQVLPSRVHGE\WKH$FWDQG6HFWLRQ G RIWKH&RGHDQGWRHQVXUHFRPSOLDQFHZLWK
Y-6%%5
FHUWDLQUHVWULFWLRQVLPSRVHGE\WKH&LW\WKH3URMHFWZLOOEHVXEMHFWWRD5HJXODWRU\$JUHHPHQWGDWHGDV
RIRUDIWHU-DQXDU\ WKH³5HJXODWRU\$JUHHPHQW´ DPRQJWKH&LW\WKH%RUURZHUDQGWKH7UXVWHH
$SSURYDORI)RUPV ([HFXWLRQ6XEMHFWWRUHFHLYLQJDOORFDWLRQRIWKHERQGLQJDXWKRULW\
IURP00%WKH&LW\2IILFLDOVDUHKHUHE\DXWKRUL]HGDQGGLUHFWHGWRH[HFXWHDQGGHOLYHUWKH,QGHQWXUHWKH
/RDQ$JUHHPHQW%RQGVWKH%RQG3XUFKDVH$JUHHPHQWWKH5HJXODWRU\$JUHHPHQWDQGDQ\FRQVHQWVRU
VXFKRWKHUGRFXPHQWVDQGFHUWLILFDWHVDVDUHQHFHVVDU\RUDSSURSULDWHLQFRQQHFWLRQZLWKWKHLVVXDQFH
VDOH DQG GHOLYHU\ RI WKH %RQGV LQFOXGLQJ ZLWKRXW OLPLWDWLRQ YDULRXV FHUWLILFDWHV RI WKH &LW\ WKH
,QIRUPDWLRQ 5HWXUQ IRU 7D[([HPSW 3ULYDWH $FWLYLW\ %RQG ,VVXHV )RUP D OHWWHU SUHSDUHG LQ
DFFRUGDQFHZLWK6HFWLRQ P ' RIWKH&RGHHYLGHQFLQJWKHGHWHUPLQDWLRQRIWKH&LW\DVWKHLVVXHU
RIWKH%RQGVEDVHGRQFRQFOXVLRQVRIDWKLUGSDUW\DQDO\VWWKDWWKHDPRXQWRIWD[FUHGLWVWREHDOORFDWHG
WRWKH3URMHFWZLOOQRWH[FHHGWKHDPRXQWQHFHVVDU\IRUWKHILQDQFLDOIHDVLELOLW\RIWKH3URMHFWDQGLWV
YLDELOLW\DVDTXDOLILHGORZLQFRPHKRXVLQJSURMHFWDFHUWLILFDWHDVWRDUELWUDJHDQGUHEDWHDQGVLPLODU
GRFXPHQWV FROOHFWLYHO\WKH³)LQDQFLQJ'RFXPHQWV´
$OORIWKHSURYLVLRQVRIWKH)LQDQFLQJ'RFXPHQWVZKHQH[HFXWHGDQGGHOLYHUHGDVDXWKRUL]HG
KHUHLQVKDOOEHGHHPHGWREHDSDUWRIWKLVUHVROXWLRQDVIXOO\DQGWRWKHVDPHH[WHQWDVLILQFRUSRUDWHG
YHUEDWLPKHUHLQDQGVKDOOEHLQIXOOIRUFHDQGHIIHFWIURPWKHGDWHRIH[HFXWLRQDQGGHOLYHU\WKHUHRI7KH
)LQDQFLQJ'RFXPHQWVVKDOOEHVXEVWDQWLDOO\LQWKHIRUPVFXUUHQWO\RQILOHZLWKWKH&LW\ZKLFKDUHKHUHE\
DSSURYHGZLWKVXFKQHFHVVDU\DQGDSSURSULDWHYDULDWLRQVRPLVVLRQVDQGLQVHUWLRQVDVGRQRWPDWHULDOO\
F K D Q J H W K H V X E V W D Q F H W K H U H R I D Q G D V W K H & L W \ 2 I I L F L D O V L Q W K HLU GLVFUHWLRQ VKDOO GHWHUPLQH DQG WKH
H[HFXWLRQWKHUHRIE\WKH&LW\2IILFLDOVVKDOOEHFRQFOXVLYHHYLGHQFHRIVXFKGHWHUPLQDWLRQ
%RQG 2SLQLRQ 7KH &LW\ KHUHE\ DXWKRUL]HV .HQQHG\ *UDYHQ &KDUWHUHG DV ERQG
FRXQVHOWRSUHSDUHH[HFXWHDQGGHOLYHULWVDSSURYLQJOHJDORSLQLRQVZLWKUHVSHFWWRWKH%RQGV
2IILFLDO 6WDWHPHQW 7KH &LW\ KDV QRW SDUWLFLSDWHG LQ WKH SUHSDUDWLRQ RI WKH 2IILFLDO
6WDWHPHQW UHODWLQJ WR WKH RIIHU DQG VDOH RI WKH %RQGV WKH ³2IILFLDO 6WDWHPHQW´ DQG KDV PDGH QR
LQGHSHQGHQWLQYHVWLJDWLRQZLWKUHVSHFWWRWKHLQIRUPDWLRQFRQWDLQHGWKHUHLQLQFOXGLQJWKHDSSHQGLFHV
WKHUHWRDQGWKH&LW\DVVXPHVQRUHVSRQVLELOLW\IRUWKHVXIILFLHQF\DFFXUDF\RUFRPSOHWHQHVVRIVXFK
LQIRUPDWLRQH[FHSWIRUWKHLQIRUPDWLRQXQGHUWKHFDSWLRQV³7+(,668(5´DQG³12/,7,*$7,21²7KH
, V V X H U ´ 6 X E M H F W W R W K H I R U H J R L Q J W K H & L W \ K H U H E \ F R Q V H Q W V W R WKH GLVWULEXWLRQ DQG WKH XVH E\ WKH
8QGHUZULWHURIWKH2IILFLDO6WDWHPHQWLQFRQQHFWLRQZLWKWKHRIIHUDQGVDOHRIWKH%RQGV7KH2IILFLDO
6WDWHPHQWLVWKHVROHPDWHULDOFRQVHQWHGWRE\WKH&LW\IRUXVHLQFRQQHFWLRQZLWKWKHRIIHUDQGVDOHRIWKH
%RQGV
&RXQFLO $XWKRULW\ 1R 3HUVRQDO /LDELOLW\ ([FHSW DV RWKHUZLVHSURYLGHG LQ WKLV
UHVROXWLRQDOOULJKWVSRZHUVDQGSULYLOHJHVFRQIHUUHGDQGGXWLHVDQGOLDELOLWLHVLPSRVHGXSRQWKH&LW\RU
WKH &LW\ &RXQFLO E\ WKH SURYLVLRQV RI WKLV UHVROXWLRQ RU RI WKH DIRUHPHQWLRQHG GRFXPHQWV VKDOO EH
H[HUFLVHGRUSHUIRUPHGE\WKH&LW\RUE\VXFKPHPEHUVRIWKH&LW\&RXQFLORUVXFKRIILFHUVERDUGERG\
RUDJHQF\WKHUHRIDVPD\EHUHTXLUHGRUDXWKRUL]HGE\ODZWRH[HUFLVHVXFKSRZHUVDQGWRSHUIRUPVXFK
GXWLHV
1R FRYHQDQW VWLSXODWLRQ REOLJDWLRQ RU DJUHHPHQW KHUHLQ FRQWDLQHG RU FRQWDLQHG LQ WKH
DIRUHPHQWLRQHGGRFXPHQWVVKDOOEHGHHPHGWREHDFRYHQDQWVWLSXODWLRQREOLJDWLRQRUDJUHHPHQWRIDQ\
PHPEHURIWKH&LW\&RXQFLORUDQ\RIILFHUDJHQWRUHPSOR\HHRIWKH&LW\LQWKDWSHUVRQ¶VLQGLYLGXDO
FDSDFLW\ DQG QHLWKHU WKH &LW\ &RXQFLO QRU DQ\ RIILFHU RU HPSOR\HH H[HFXWLQJ WKH %RQGV VKDOO EH
SHUVRQDOO\OLDEOHRQWKH%RQGVRUEHVXEMHFWWRDQ\SHUVRQDOOLDELOLW\RUDFFRXQWDELOLW\E\UHDVRQRIWKH
LVVXDQFHWKHUHRI
Y-6%%5
([FHSWDVRWKHUZLVHH[SUHVVO\SURYLGHGKHUHLQQRWKLQJLQWKLVUHVROXWLRQRULQWKHDIRUHPHQWLRQHG
GRFXPHQWVH[SUHVVHGRULPSOLHGLVLQWHQGHGRUVKDOOEHFRQVWUXHGWRFRQIHUXSRQDQ\SHUVRQRUILUPRU
FRUSRUDWLRQRWKHUWKDQWKH&LW\RUDQ\KROGHURIWKH%RQGVLVVXHGXQGHUWKHSURYLVLRQVRIWKLVUHVROXWLRQ
DQ\ULJKWUHPHG\RUFODLPOHJDORUHTXLWDEOHXQGHUDQGE\UHDVRQRIWKLVUHVROXWLRQRUDQ\SURYLVLRQV
KHUHRIWKLVUHVROXWLRQWKHDIRUHPHQWLRQHGGRFXPHQWVDQGDOORIWKHLUSURYLVLRQVEHLQJLQWHQGHGWREHDQG
EHLQJIRUWKHVROHDQGH[FOXVLYHEHQHILWRIWKH&LW\DQGDQ\KROGHUIURPWLPHWRWLPHRIWKH%RQGVLVVXHG
XQGHUWKHSURYLVLRQVRIWKLVUHVROXWLRQ
6HYHUDELOLW\,QFDVHDQ\RQHRUPRUHRIWKHSURYLVLRQVRIWKLV5HVROXWLRQRWKHUWKDQWKH
SURYLVLRQVFRQWDLQHG6HFWLRQRURIWKHDIRUHPHQWLRQHGGRFXPHQWVRURIWKH%RQGVLVVXHGKHUHXQGHU
VKDOOIRUDQ\UHDVRQEHKHOGWREHLOOHJDORULQYDOLGVXFKLOOHJDOLW\RULQYDOLGLW\VKDOOQRWDIIHFWDQ\RWKHU
SURYLVLRQRIWKLVUHVROXWLRQRURIWKHDIRUHPHQWLRQHGGRFXPHQWVRURIWKH%RQGVEXWWKLV5HVROXWLRQWKH
DIRUHPHQWLRQHGGRFXPHQWVDQGWKH%RQGVVKDOOEHFRQVWUXHGDQGHQGRUVHGDVLIVXFKLOOHJDORULQYDOLG
SURYLVLRQVKDGQRWEHHQFRQWDLQHGWKHUHLQ
9DOLGLW\7KH%RQGVZKHQH[HFXWHGDQGGHOLYHUHGVKDOOFRQWDLQDUHFLWDOWKDWWKH\DUH
LVVXHGSXUVXDQWWRWKH$FWDQGVXFKUHFLWDOVKDOOEHFRQFOXVLYHHYLGHQFHRIWKHYDOLGLW\RIWKH%RQGVDQG
WKHUHJXODULW\RIWKHLVVXDQFHWKHUHRIDQGWKDWDOODFWVFRQGLWLRQVDQGWKLQJVUHTXLUHGE\WKHODZVRIWKH
6WDWHRI0LQQHVRWDUHODWLQJWRWKHDGRSWLRQRIWKLVUHVROXWLRQWRWKHLVVXDQFHRIWKH%RQGVDQGWRWKH
H[HFXWLRQRIWKHDIRUHPHQWLRQHGGRFXPHQWVWRKDSSHQH[LVWDQGEHSHUIRUPHGSUHFHGHQWWRWKHH[HFXWLRQ
RIWKHDIRUHPHQWLRQHGGRFXPHQWVKDYHKDSSHQHGH[LVWDQGKDYHEHHQSHUIRUPHGDVVRUHTXLUHGE\ODZ
$XWKRUL]DWLRQ 'LUHFWLRQ 7KH RIILFHUV RI WKH &LW\ ERQG FRXQVHO RWKHU DWWRUQH\V
HQJLQHHUVDQGRWKHUDJHQWVRUHPSOR\HHVRIWKH&LW\DUHKHUHE\DXWKRUL]HGWRGRDOODFWVDQGWKLQJV
UHTXLUHGRIWKHPE\RULQFRQQHFWLRQZLWKWKLVUHVROXWLRQWKHDIRUHPHQWLRQHGGRFXPHQWVDQGWKH%RQGV
IRUWKHIXOOSXQFWXDODQGFRPSOHWHSHUIRUPDQFHRIDOOWKHWHUPVFRYHQDQWVDQGDJUHHPHQWVFRQWDLQHGLQ
WKH %RQGV WKHDIRUHPHQWLRQHG GRFXPHQWV DQG WKLV UHVROXWLRQ , I I R U D Q \ U H D V R Q H L W K H U R I W K H & L W \
2IILFLDOVLVXQDEOHWRH[HFXWHDQGGHOLYHUWKHGRFXPHQWVUHIHUUHGWRLQWKLV5HVROXWLRQVXFKGRFXPHQWV
PD\EHH[HFXWHGE\DQ\PHPEHURIWKH&LW\&RXQFLORUDQ\RIILFHURIWKH&LW\GHOHJDWHGWKHGXWLHVRI
VXFK&LW\2IILFLDOVZLWKWKHVDPHIRUFHDQGHIIHFWDVLIVXFKGRFXPHQWVZHUHH[HFXWHGDQGGHOLYHUHGE\
VXFK&LW\2IILFLDOV
&LW\&RVWV7KH%RUURZHUVKDOOSD\WKH&LW\¶VDGPLQLVWUDWLYHIHHLQFRQQHFWLRQZLWKWKH
LVVXDQFHRIWKH%RQGVDVSURYLGHGLQWKH/RDQ$JUHHPHQWDQGSD\RUXSRQGHPDQGUHLPEXUVHWKH&LW\
IRUSD\PHQWRIDQ\DQGDOOFRVWVLQFXUUHGE\WKH&LW\LQFRQQHFWLRQZLWKWKH3URMHFWDQGWKHLVVXDQFHRI
WKH%RQGVZKHWKHURUQRWWKH%RQGVDUHLVVXHGLQFOXGLQJDQ\FRVWVIRUDWWRUQH\V¶IHHV7KH%RUURZHU
VKDOOLQGHPQLI\WKH&LW\DJDLQVWDOOOLDELOLWLHVORVVHVGDPDJHVFRVWVDQGH[SHQVHV LQFOXGLQJDWWRUQH\¶V
IHHVDQGH[SHQVHVLQFXUUHGE\WKH&LW\ DULVLQJZLWKUHVSHFWWRWKH3URMHFWRUWKH%RQGVDVSURYLGHGIRU
DQGDJUHHGWRE\WKH%RUURZHULQWKH/RDQ$JUHHPHQW
)XWXUH$PHQGPHQWV7KHDXWKRULW\WRDSSURYHH[HFXWHDQGGHOLYHUIXWXUHDPHQGPHQWV
WRWKH)LQDQFLQJ'RFXPHQWVKHUHLQDXWKRUL]HGHQWHUHGLQWRE\WKH&LW\LQFRQQHFWLRQZLWKWKHLVVXDQFHRI
WKH%RQGVDQGDQ\FRQVHQWVUHTXLUHGXQGHUWKH)LQDQFLQJ'RFXPHQWVLVKHUHE\GHOHJDWHGWRWKH&LW\
2IILFLDOVXSRQFRQVXOWDWLRQZLWKWKH&LW\¶V%RQG&RXQVHOVXEMHFWWRWKHIROORZLQJFRQGLWLRQV D VXFK
DPHQGPHQWVRUFRQVHQWVGRQRWUHTXLUHWKHFRQVHQWRIWKHKROGHURIWKH%RQGVRUVXFKFRQVHQWKDVEHHQ
REWDLQHG E VXFKDPHQGPHQWVRUFRQVHQWVWRQRWPDWHULDOO\DGYHUVHO\DIIHFWWKHLQWHUHVWVRIWKH&LW\ F
VXFK DPHQGPHQWV RU FRQVHQWV GR QRW FRQWUDYHQH RU YLRODWH DQ\ SROLF\ RI WKH &LW\ DQG G VXFK
DPHQGPHQWV RU FRQVHQWV DUH DFFHSWDEOH LQ IRUP DQG VXEVWDQFH WRWKH &LW\¶V %RQG &RXQVHO 7KH
DXWKRUL]DWLRQKHUHE\JLYHQVKDOOEHIXUWKHUFRQVWUXHGDVDXWKRUL]DWLRQIRUWKHH[HFXWLRQDQGGHOLYHU\RI
VXFKFHUWLILFDWHVDQGUHODWHGLWHPVDVPD\EHUHTXLUHGWRGHPRQVWUDWHFRPSOLDQFHZLWKWKHDJUHHPHQWV
EHLQJDPHQGHGDQGWKHWHUPVRIWKLV5HVROXWLRQ7KHH[HFXWLRQRIDQ\LQVWUXPHQWE\WKH&LW\2IILFLDOV
Y-6%%5
VKDOOEHFRQFOXVLYHHYLGHQFHRIWKHDSSURYDORIVXFKLQVWUXPHQWVLQDFFRUGDQFHZLWKWKHWHUPVKHUHRI,Q
WKHDEVHQFHRIHLWKHURIWKH&LW\2IILFLDOVDQ\LQVWUXPHQWDXWKRUL]HGE\WKLVSDUDJUDSKWREHH[HFXWHGDQG
GHOLYHUHGPD\EHH[HFXWHGE\WKHRIILFHURIWKH&LW\RUWKH&LW\DXWKRUL]HGWRDFWLQKLVKHUSODFHDQG
VWHDG
*RYHUQPHQWDO3URJUDP7KH&LW\KDVHVWDEOLVKHGDJRYHUQPHQWDOSURJUDPRIDFTXLULQJ
SXUSRVHLQYHVWPHQWVIRUTXDOLILHGUHVLGHQWLDOUHQWDOSURMHFWV7KHJRYHUQPHQWDOSURJUDPLVRQHLQZKLFK
WKHIROORZLQJUHTXLUHPHQWVRI E RIWKHIHGHUDOUHJXODWLRQVUHODWLQJWRWD[H[HPSWREOLJDWLRQV
VKDOOEHPHW
D WKHSURJUDPLQYROYHVWKHRULJLQDWLRQRUDFTXLVLWLRQRISXUSRVHLQYHVWPHQWV
E DWOHDVW RIWKHFRVWRIWKHSXUSRVHLQYHVWPHQWVDFTXLUHGXQGHUWKHSURJUDP
UHSUHVHQWVRQHRUPRUHORDQVWRDVXEVWDQWLDOQXPEHURISHUVRQVUHSUHVHQWLQJWKHJHQHUDOSXEOLF
VWDWHVRUSROLWLFDOVXEGLYLVLRQV F RUJDQL]DWLRQVSHUVRQVZKRSURYLGHKRXVLQJDQGUHODWHG
IDFLOLWLHVRUDQ\FRPELQDWLRQRIWKHIRUHJRLQJ
F DW OHDVW RI WKH UHFHLSWV IURP WKH SXUSRVH LQYHVWPHQWVDUH XVHG WR SD\
SULQFLSDOLQWHUHVWRUUHGHPSWLRQSULFHVRQLVVXHVWKDWILQDQFHGWKHSURJUDPWRSD\RUUHLPEXUVH
DGPLQLVWUDWLYHFRVWVRIWKRVHLVVXHVRURIWKHSURJUDPWRSD\RUUHLPEXUVHDQWLFLSDWHGIXWXUH
ORVVHVGLUHFWO\UHODWHGWRWKHSURJUDPWRILQDQFHDGGLWLRQDOSXUSRVHLQYHVWPHQWVIRUWKHVDPH
JHQHUDOSXUSRVHVRIWKHSURJUDPRUWRUHGHHPDQGUHWLUHJRYHUQPHQWDOREOLJDWLRQVDWWKHQH[W
HDUOLHVWSRVVLEOHGDWHRIUHGHPSWLRQ
G WKHSURJUDPGRFXPHQWVSURKLELWDQ\REOLJRURQDSXUSRVHLQYHVWPHQWILQDQFHGE\
WKHSURJUDPRUDQ\UHODWHGSDUW\WRWKDWREOLJRUIURPSXUFKDVLQJ%RQGVRIDQLVVXHWKDWILQDQFHV
WKHSURJUDPLQDQDPRXQWUHODWHGWRWKHDPRXQWRIWKHSXUSRVHLQYHVWPHQWDFTXLUHGIURPWKDW
REOLJRU DQG
H WKH&LW\VKDOOQRWZDLYHWKHULJKWWRWUHDWWKHLQYHVWPHQWDVDSURJUDPLQYHVWPHQW
(IIHFWLYH 'DWH 7KLV 5HVROXWLRQ VKDOO EH LQ IXOO IRUFH DQG HIIHFW IURP DQG DIWHU LWV
DSSURYDO
'HFHPEHU
' D W H 0 D \ R U
$ 7 7 ( 6 7
&LW\&OHUN
7KH PRWLRQ IRU WKH DGRSWLRQ RI WKH IRUHJRLQJ UHVROXWLRQ ZDV GXO\ VHFRQGHG E\ &RXQFLOPHPEHU
BBBBBBBBBBBBBBBBBBBBBBBDQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
Y-6%%5
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
Un
i
t
y
ȱ Pl
a
c
e
Re
n
o
v
a
t
i
o
n
De
c
e
m
b
e
r
ȱ 10
,
ȱ 20
1
8
Ab
o
u
t
ȱ Co
m
m
u
n
i
t
y
ȱ Ho
u
s
i
n
g
ȱ De
v
e
l
o
p
m
e
n
t
ȱ
Co
r
p
o
r
a
t
i
o
n
ȱ (C
H
D
C
)
Un
i
t
y
ȱ Pl
a
c
e
ȱ Pr
o
p
e
r
t
y
ȱ Ch
a
r
a
c
t
e
r
i
s
t
i
c
s
11
2
Ȭ un
i
t
ȱ re
n
t
a
l
ȱ to
w
n
h
o
m
e
ȱ co
m
p
l
e
x
ȱ
co
n
s
i
s
t
i
n
g
ȱ of
ȱ 61
ȱ tw
o
ȱ an
d
ȱ 51
ȱ th
r
e
e
ȱ be
d
r
o
o
m
ȱ
un
i
t
s
.
Or
i
g
i
n
a
l
l
y
ȱ bu
i
l
t
ȱ in
ȱ 19
7
8
,
ȱ CH
D
C
ȱ ha
s
ȱ ow
n
e
d
ȱ
th
e
ȱ pr
o
p
e
r
t
y
ȱ si
n
c
e
ȱ 19
9
4
.
Ge
n
e
r
a
l
ȱ oc
c
u
p
a
n
c
y
ȱ pe
r
m
a
n
e
n
t
ȱ re
n
t
a
l
ȱ
ho
u
s
i
n
g
ȱ pr
i
m
a
r
i
l
y
ȱ fo
r
ȱ lo
w
ȱ in
c
o
m
e
ȱ
fa
m
i
l
i
e
s
.
ȱ
10
0
%
ȱ of
ȱ th
e
ȱ un
i
t
s
ȱ ha
v
e
ȱ pr
o
j
e
c
t
Ȭ ba
s
e
d
ȱ
Se
c
t
i
o
n
ȱ 8 ȱ re
n
t
ȱ as
s
i
s
t
a
n
c
e
.
Pr
o
p
o
s
e
d
ȱ Re
f
i
n
a
n
c
e
ȱ
an
d
ȱ Re
n
o
v
a
t
i
o
n
ȱ
Pu
r
p
o
s
e
Se
c
t
i
o
n
ȱ 8 ȱ co
n
t
r
a
c
t
ȱ re
n
e
w
e
d
ȱ
an
d
ȱ pr
e
s
e
r
v
e
d
.
Ca
p
i
t
a
l
ȱ an
d
ȱ li
v
a
b
i
l
i
t
y
ȱ
im
p
r
o
v
e
m
e
n
t
s
,
ȱ so
ȱ th
e
ȱ
pr
o
p
e
r
t
y
ȱ is
ȱ so
l
i
d
ȱ fo
r
ȱ th
e
ȱ ne
x
t
ȱ
20
ȱ ye
a
r
s
.
ȱ
(N
o
t
ȱ ad
d
i
n
g
ȱ un
i
t
s
ȱ or
ȱ
mo
d
i
f
y
i
n
g
ȱ un
i
t
ȱ si
z
e
s
)
ȱ
Ta
x
ȱ Ex
e
m
p
t
ȱ Co
n
d
u
i
t
ȱ Bo
n
d
s
ȱ
St
a
t
e
ȱ bo
n
d
s
ȱ wi
t
h
ȱ a ȱ
sm
a
l
l
e
r
ȱ in
t
e
r
e
s
t
ȱ ra
t
e
.
Co
m
e
ȱ wi
t
h
ȱ fe
d
e
r
a
l
ȱ lo
w
ȱ
in
c
o
m
e
ȱ ho
u
s
i
n
g
ȱ ta
x
ȱ
cr
e
d
i
t
s
.
Re
n
o
v
a
t
i
o
n
ȱ Ac
t
i
v
i
t
i
e
s
ȱ Ov
e
r
v
i
e
w
Ap
p
r
o
x
i
m
a
t
e
l
y
ȱ $6
7
,
0
0
0
ȱ pe
r
ȱ un
i
t
.
Re
s
i
d
e
n
t
s
ȱ oc
c
u
p
y
ȱ un
i
t
s
ȱ du
r
i
n
g
ȱ co
n
s
t
r
u
c
t
i
o
n
.
ȱ
Wo
r
k
i
n
g
ȱ ha
r
d
ȱ to
ȱ mi
n
i
m
i
z
e
ȱ di
s
r
u
p
t
i
o
n
.
Re
p
a
i
r
s
,
ȱ as
s
e
t
ȱ pr
o
t
e
c
t
i
o
n
,
ȱ su
s
t
a
i
n
a
b
i
l
i
t
y
ȱ an
d
ȱ
li
v
a
b
i
l
i
t
y
ȱ im
p
r
o
v
e
m
e
n
t
s
.
Re
p
a
i
r
s
As
s
e
t
ȱ
Pr
o
t
e
c
t
i
o
n
Su
s
t
a
i
n
a
b
i
l
i
t
y
ȱ an
d
ȱ
Bu
i
l
d
i
n
g
ȱ
Pe
r
f
o
r
m
a
n
c
e
Li
v
a
b
i
l
i
t
y
ȱ Im
p
r
o
v
e
m
e
n
t
s
Li
v
a
b
i
l
i
t
y
ȱ Im
p
r
o
v
e
m
e
n
t
s
Li
v
a
b
i
l
i
t
y
ȱ Im
p
r
o
v
e
m
e
n
t
s
ȱ
2)
)
,
&
(
&
2
0
0
8
1
,
7
<
5
2
2
0
)
,
7
1
(
6
6
5
2
2
0
2)
)
,
&
(
0(
(
7
,
1
*
Qu
e
s
t
i
o
n
s
?
! !" ##
$ % &'
&"( ' &) *
!" #$ %
!" #$&$ %
!" #$ '"
!" #
!"
! #+*
,-.&&&)!
#'" #' //&&&))(&"!
0(#" 0("
& ) ( ) ! 1&
' &2#&) *3 !0("
&#'
"'
"#""##&&#'
""(#)#('&&&""/&2#&&3!-.&&&
'&#'
""(,#&)2
"") *")!0))&.((&
&/!'")
"!)&
#
/(2/&""#! ) !
' &&/&3 ! #&! )'-
'&& ) #! ) ! )2
'& "# #(" #!& #&& / " #&!
+'#& "
! #&
# ) !
' /(2/& &&#" -! ! 1& 45 ('
6/(2/7'8 6793
*#&&((&"):$$-"$/$- '&"/
#&!&2&)
"(&()"+&2#")#)&
#
/(2/&3 &)!
2
&
'&#//""&)''-&) *
!"#$
!"#% &
' & !5
&"'
8;
'9
<=3>= <434 < 3
;
&
/( !
5
&"'&
68 5? ''&9
668?5> ''&9
6668>"9
<3==
?3 =
=34=
<34*
?3
=3
< 34 ''&
< 3
''&
< 3@ ''&
&
/( !5
5&"'
87 ''&9 <?3 = <?3= < 3?
''&
( )(* & !8;
'9 <
3= <
=3
* <3=@;
&
/( ! 87 ''&9 <?3? <?34
< 3> ''&
5 5&"'
( +(* & !8;
'9 <=3@@ <43 @ < 3? ;
( && !8;
'9 <>344 <>344 #!
) & !8;
'9 <3*
<3*
#!
!
'+'')!
&!'"
&
''&)-8#&""!(#'&"'
&9&&!-
#/(&
&&)''-&
!"#$ !"#% ,& -
' <4
34> <>3= <?34
( )(*
3=
=3
* 3=@
( +(* =3@@ 43 @ 3?
( &>344 >344 5
) 3*
3*
5
<@=3
<
3>? <>3?4
$))&'&#//"#&!&"'-/#!84
A?=A/9)/<**3
<=*3 3!&#!&(('"'#
&/&-!"#;
(2
&'50&&"'
-/&()-#&
#('#-/"/"''!
!!
'#)((-3! -''#
('#-/&#!!#
&/)
)
"+-")#23!#!/&&)#'+'-!#&! (
#!&!
-/)<? /('
&#&&&&#"-!&))/"/&('#3
!((&"&-
'"+#/))#2%
*3
"&#&3 "3 >;
#"!(!
#'&-
'
&3!7
+'# #-&(
+'&!"!.' 7& 2/+
3
! *+
""
'2
(,#&)'#!((&"
'&3
( . /
$)$#
$+' //
0HPEHUBBBBBBBBBBBBBBBBBBBBBBBBBBBBBLQWURGXFHGWKHIROORZLQJUHVROXWLRQ
DQGPRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21 $'237,1* :$7(5 87,/,7< 5$7(6 )((6 $1'
&+$5*(6
:+(5($6WKH&LW\RI%URRNO\Q&HQWHU&KDUWHUUHTXLUHVWKDWPXQLFLSDOXWLOLWLHV
EHVHOIVXSSRUWLQJWKURXJKUHYHQXHSURYLGHGE\DXQLIRUPVFKHGXOHRIUDWHVIHHVDQGFKDUJHV
DQG
:+(5($6 WKLV XQLIRUP VFKHGXOH VKDOO EH FDOOHG WKH ³3XEOLF 8WLOLW\ 5DWH
6FKHGXOH´DQGVKDOOEHDGRSWHGE\UHVROXWLRQRIWKH&LW\&RXQFLO DQG
:+(5($6ILQDQFLDOUHTXLUHPHQWVIRUWKHXWLOLW\IXQGVKDYHEHHQLGHQWLILHGDQG
UHYLHZHGE\WKH&LW\&RXQFLO
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHUWKDWWKHIROORZLQJ:DWHU8WLOLW\UDWHVIHHVDQGFKDUJHVDUHKHUHE\DGRSWHGDQG
VKDOOEHHIIHFWLYHIRUDOOELOOLQJVLVVXHGRQRUDIWHU-DQXDU\
:$7(587,/,7<5$7(6&+('8/(
:DWHU5DWHV)HHVDQG&KDUJHV
%DVH5DWH
<HDU SHU*DOORQV
4XDUWHUO\0LQLPXP5DWH
0HWHU6L]H 4XDUWHUO\0LQLPXP&KDUJH
´
ò
´
´
´
´
´
´
:DWHU&RQVHUYDWLRQ5DWH
0HWHU6L]H%DVH&KDUJH PLQLPXPFKDUJHSHUTXDUWHU
´DQG´
7KRXVDQGVRI*DOORQV&RQVXPSWLRQ&KDUJH SHUJDOORQVXVHG
WR
WR
DQGJUHDWHU
5(62/87,2112BBBBBBBBBBBBBB
)HHV
:DWHU0HWHU&KDUJH´RU´
:DWHU0HWHU&KDUJH/DUJHUWKDQ´
$FWXDO&RVW
2WKHU&KDUJHV
'HOLQTXHQWDFFRXQWTXDUWHUO\FKDUJH
*UHDWHURIRURIXQSDLGEDODQFH
&HUWLILFDWLRQIRUFROOHFWLRQZLWKSURSHUW\WD[HV
) L U H 6 H U Y L F H / L Q H & K D U J H SHUTXDUWHU
'HFHPEHU
'DWH 0D\RU
$77(67
&LW\&OHUN
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
0HPEHU BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB LQWURGXFHG WKH IROORZLQJ
UHVROXWLRQDQGPRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21 $'237,1* 6(:(5 87,/,7< 5$7(6 )((6 $1'
&+$5*(6
:+(5($6WKH&LW\RI%URRNO\Q&HQWHU&KDUWHUUHTXLUHVWKDWPXQLFLSDOXWLOLWLHV
EHVHOIVXSSRUWLQJWKURXJKUHYHQXHSURYLGHGE\DXQLIRUPVFKHGXOHRIUDWHVIHHVDQGFKDUJHV
DQG
:+(5($6 WKLV XQLIRUP VFKHGXOH VKDOO EH FDOOHG WKH ³3XEOLF 8WLOLW\ 5DWH
6FKHGXOH´DQGVKDOOEHDGRSWHGE\UHVROXWLRQRIWKH&LW\&RXQFLO DQG
:+(5($6ILQDQFLDOUHTXLUHPHQWVIRUWKHXWLOLW\IXQGVKDYHEHHQLGHQWLILHGDQG
UHYLHZHGE\WKH&LW\&RXQFLO
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHUWKDWWKHIROORZLQJ6HZHU8WLOLW\UDWHVIHHVDQGFKDUJHVDUHKHUHE\DGRSWHGDQG
VKDOOEHHIIHFWLYHIRUDOOELOOLQJVLVVXHGRQRUDIWHU-DQXDU\
6(:(587,/,7<5$7(6&+('8/(
6HZHU5DWHV)HHVDQG&KDUJHV
%DVH5DWH4XDUWHUO\5HVLGHQWLDO
PLQLPXPTXDUWHUO\FKDUJH
6LQJOH)DPLO\ $SDUWPHQW 6HQLRU&LWL]HQ
<HDU
1RQ5HVLGHQWLDO5DWH
<HDU SHU*DOORQV
)HHV
6$&&KDUJHVHWE\0&(6 )HH(VWDEOLVKHGE\0&(6
&KDUJHV
'HOLQTXHQWDFFRXQWTXDUWHUO\FKDUJH
*UHDWHURIRURIXQSDLGEDODQFH
&HUWLILFDWLRQIRUFROOHFWLRQZLWKSURSHUW\WD[HV
/LQHFOHDQLQJFKDUJH /DERUPDWHULDOVHTXLSPHQWDQGRYHUKHDG
6DQLWDU\6HZHU&RQQHFWLRQ (VWDEOLVKHGDQQXDOO\E\UHVROXWLRQ
'HFHPEHU
'DWH 0D\RU
$77(67
&LW\&OHUN
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
0HPEHU BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB LQWURGXFHG WKH IROORZLQJ
UHVROXWLRQDQGPRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21$'237,1* 672506(:(587,/,7<5$7(6)((6
$1'&+$5*(6
:+(5($6WKH&LW\RI%URRNO\Q&HQWHU&KDUWHUUHTXLUHVWKDWPXQLFLSDOXWLOLWLHV
EHVHOIVXSSRUWLQJWKURXJKUHYHQXHSURYLGHGE\DXQLIRUPVFKHGXOHRIUDWHVIHHVDQGFKDUJHV
DQG
:+(5($6 WKLV XQLIRUP VFKHGXOH VKDOO EH FDOOHG WKH ³3XEOLF 8WLOLW\ 5DWH
6FKHGXOH´DQGVKDOOEHDGRSWHGE\UHVROXWLRQRIWKH&LW\&RXQFLO DQG
:+(5($6ILQDQFLDOUHTXLUHPHQWVIRUWKHXWLOLW\IXQGVKDYHEHHQLGHQWLILHGDQG
UHYLHZHGE\WKH&LW\&RXQFLO
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHUWKDWWKHIROORZLQJ6WRUP6HZHU8WLOLW\UDWHVDQGFKDUJHVDUHKHUHE\FRQWLQXHG
DQGVKDOOEHHIIHFWLYHIRUDOOELOOLQJVLVVXHGRQRUDIWHU-DQXDU\
672506(:(587,/,7<5$7(6&+('8/(
6WRUP6HZHU5DWHVDQG&KDUJHV
4XDUWHUO\5DWHVSHU$FUH
0LQLPXP4XDUWHUO\&KDUJH
%DVH5DWH
&HPHWHULHVDQG*ROI&RXUVHV
3DUNV
6LQJOH)DPLO\'XSOH[7RZQKRXVH ORW
6FKRRO*RYHUQPHQW%XLOGLQJV
0XOWLSOH)DPLO\&KXUFKHV
&RPPHUFLDO,QGXVWULDO
9DFDQW/DQG $V$VVLJQHG
&KDUJHV
'HOLQTXHQWDFFRXQWTXDUWHUO\FKDUJH
*UHDWHURIRURIXQSDLGEDODQFH
&HUWLILFDWLRQIRUFROOHFWLRQZLWKSURSHUW\WD[HV
3ULYDWHIDFLOLW\FOHDQLQJFKDUJH /DERUPDWHULDOVHTXLSPHQWDQGRYHUKHDG
'HFHPEHU
' D W H 0 D \ R U
$77(67
&LW\&OHUN
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
0HPEHU LQWURGXFHGWKHIROORZLQJ
UHVROXWLRQDQGPRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21$'237,1* 675((7/,*+75$7(6$1'&+$5*(6
:+(5($6WKH&LW\RI%URRNO\Q&HQWHU&KDUWHUUHTXLUHVWKDWPXQLFLSDOXWLOLWLHV
EHVHOIVXSSRUWLQJWKURXJKUHYHQXHSURYLGHGE\DXQLIRUPVFKHGXOHRIUDWHVIHHVDQGFKDUJHV
DQG
:+(5($6 WKLV XQLIRUP VFKHGXOH VKDOO EH FDOOHG WKH ³3XEOLF 8WLOLW\ 5DWH
6FKHGXOH´DQGVKDOOEHDGRSWHGE\UHVROXWLRQRIWKH&LW\&RXQFLO DQG
:+(5($6ILQDQFLDOUHTXLUHPHQWVIRUWKHXWLOLW\IXQGVKDYHEHHQLGHQWLILHGDQG
UHYLHZHGE\WKH&LW\&RXQFLO
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHUWKDWWKHIROORZLQJ6WUHHW/LJKW8WLOLW\UDWHVDQGFKDUJHVDUHKHUHE\DGRSWHGDQG
VKDOOEHHIIHFWLYHIRUDOOELOOLQJVLVVXHGRQRUDIWHU-DQXDU\
675((7/,*+787,/,7<5$7(6&+('8/(
6WUHHW/LJKW5DWHVDQG&KDUJHV
4XDUWHUO\5DWHV
&XVWRPHU 0LQLPXP4XDUWHUO\&KDUJH
3HU'ZHOOLQJ8QLW
6LQJOH'RXEOHDQG0XOWLSOH)DPLO\
5HVLGHQWLDO
3HU$FUH
3DUNV
6FKRROV*RYHUQPHQW%XLOGLQJV&KXUFKHV
5HWDLODQG6HUYLFH2IILFH
&RPPHUFLDODQG,QGXVWULDO
9DFDQW/DQGDQG2SHQ6SDFH $V$VVLJQHG
&KDUJHV
'HOLQTXHQWDFFRXQWTXDUWHUO\FKDUJH
*UHDWHURIRURIXQSDLGEDODQFH
&HUWLILFDWLRQIRUFROOHFWLRQZLWKSURSHUW\WD[HV
'HFHPEHU
'DWH 0D\RU
$77(67
&LW\&OHUN
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
0HPEHU LQWURGXFHG WKH IROORZLQJ
UHVROXWLRQDQGPRYHGLWVDGRSWLRQ
5(62/87,2112BBBBBBBBBBBBBBB
5(62/87,21(67$%/,6+,1* 5(&<&/,1*5$7(6$1'&+$5*(6
:+(5($6WKH&LW\RI%URRNO\Q&HQWHULVDPHPEHURIWKH+HQQHSLQ5HF\FOLQJ
*URXS +5* ZKLFKLVDMRLQWSRZHUVJURXSRUJDQL]HGSXUVXDQWWR0LQQHVRWD6WDWXWHV6HFWLRQ
DQG
:+(5($6 WKH SXUSRVH RI WKH MRLQW SRZHUV DJUHHPHQW LV WR FUHDWHD Q
RUJDQL]DWLRQE\ZKLFKPHPEHUFLWLHVPD\MRLQWO\DQGFRRSHUDWLYHO\SURYLGHIRUWKHHIILFLHQWDQG
HFRQRPLFDOFROOHFWLRQUHF\FOLQJDQGGLVSRVDORIVROLGZDVWHZLWKLQDQGZLWKRXWWKHLUUHVSHFWLYH
FRUSRUDWH ERXQGDULHV LQ FRPSOLDQFH ZLWK WKH 0LQQHVRWD :DVWH 0DQDJHPHQW $FW 0LQQHVRWD
6WDWXWHV&KDSWHU$ DQG
:+(5($6 WKH +5* KDV HVWDEOLVKHG D FXUEVLGH UHF\FOLQJ SURJUDP IRU LWV
PHPEHUFLWLHVWRPHHWWKHUHTXLUHPHQWVRI+HQQHSLQ&RXQW\2UGLQDQFH1R6ROLG:DVWH
6RXUFH6HSDUDWLRQIRU+HQQHSLQ&RXQW\ DQG
:+(5($6WKH&LW\RI%URRNO\Q&HQWHUPXVWHVWDEOLVKUDWHVWRIXQGWKH&LW\¶V
FXUEVLGHUHF\FOLQJSURJUDPDQGWKHFRVWIRUSURMHFWHGUHLPEXUVHPHQWRIUHF\FOLQJFKDUJHVIURP
WKH+5*DORQJZLWKRWKHUSURJUDPRSHUDWLQJFKDUJHV DQG
:+(5($6WKHUHF\FOLQJSURJUDPLQFOXGHVDELDQQXDOFXUEVLGHFOHDQXS DQG
:+(5($6%URRNO\Q&HQWHU2UGLQDQFH1R DXWKRUL]HVWKH&LW\WR
HVWDEOLVKUDWHVIRUUHF\FOLQJVHUYLFHV
12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI
%URRNO\Q&HQWHUWKDWWKHUHF\FOLQJFKDUJHVVKDOOEHDVIROORZVIRUDOOELOOLQJVLVVXHGRQRUDIWHU
-DQXDU\
5(&<&/,1*87,/,7<5$7(6&+('8/(
5HF\FOLQJ5DWHVDQG&KDUJHV
0LQLPXP&KDUJHSHU+RXVHKROGSHUTXDUWHU SHUTXDUWHU
&KDUJHV
'HOLQTXHQWDFFRXQWTXDUWHUO\FKDUJH
*UHDWHURIRURIXQSDLGEDODQFH
&HUWLILFDWLRQIRUFROOHFWLRQZLWKSURSHUW\WD[HV
'HFHPEHU
'DWH 0D\RU
$77(67
&LW\&OHUN
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\PHPEHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
&ŝ
Ŷ
Ă
Ŷ
Đ
Ğ
Ğ
Ɖ
Ă
ƌ
ƚ
ŵ
Ğ
Ŷ
ƚ
Ğ
Đ
Ğ
ŵ
ď
Ğ
ƌ
ϭ
Ϭ
͕
Ϯ
Ϭ
ϭ
ϴ
DĂ
ŝ
Ŷ
ƚ
Ă
ŝ
Ŷ
Ɛ
Ğ
ƌ
ǀ
ŝ
Đ
Ğ
ů
Ğ
ǀ
Ğ
ů
Ɛ
^ƚ
Ă
ď
ŝ
ů
ŝ
nj
Ğ
ƌ
Ă
ƚ
Ğ
Đ
Ś
Ă
Ŷ
Ő
Ğ
Ɛ
Wƌ
Ž
ǀ
ŝ
Ě
Ğ
Đ
Ă
Ɛ
Ś
Ĩ
Ž
ƌ
Ž
Ɖ
Ğ
ƌ
Ă
ƚ
ŝ
Ŷ
Ő
Ŷ
Ğ
Ğ
Ě
Ɛ
Wƌ
Ž
ǀ
ŝ
Ě
Ğ
Đ
Ă
Ɛ
Ś
Ĩ
Ž
ƌ
Đ
Ă
Ɖ
ŝ
ƚ
Ă
ů
Ɖ
ƌ
Ž
ũ
Ğ
Đ
ƚ
Ɛ
Wƌ
Ž
ǀ
ŝ
Ě
Ğ
Đ
Ă
Ɛ
Ś
Ĩ
Ž
ƌ
Ě
Ğ
ď
ƚ
Ɛ
Ğ
ƌ
ǀ
ŝ
Đ
Ğ
ZĂ
ƚ
Ğ
Ɛ
Ɖ
ƌ
ŝ
ŵ
Ă
ƌ
ŝ
ů
LJ
Ě
ƌ
ŝ
ǀ
Ğ
ď
LJ
Ψ
ϭ
ϵ
͘
Ϯ
ŵ
ŝ
ů
ů
ŝ
Ž
Ŷ
ŝ
Ŷ
Ƶ
ƚ
ŝ
ů
ŝ
ƚ
LJ
ŝ
Ŷ
Ĩ
ƌ
Ă
Ɛ
ƚ
ƌ
Ƶ
Đ
ƚ
Ƶ
ƌ
Ğ
ŝŶ
ǀ
Ğ
Ɛ
ƚ
ŵ
Ğ
Ŷ
ƚ
Ɛ
Ž
ǀ
Ğ
ƌ
Ŷ
Ğ
dž
ƚ
ƚ
ǁ
Ž
LJ
Ğ
Ă
ƌ
Ɛ
6
W
R
U
P
'
U
D
L
Q
D
J
H
6
D
Q
L
W
D
U
\
6
H
Z
H
U
:
D
W
H
U
6
W
U
H
H
W
/
L
J
K
W
3U
R
M
H
F
W
8W
L
O
L
W
\
8
W
L
O
L
W
\
8
W
L
O
L
W
\
8
W
L
O
L
W
\
,Q
W
H
U
V
W
D
W
H
$
U
H
D
,
P
S
U
R
Y
H
P
H
Q
W
V
%
H
O
O
Y
X
H
$
U
H
D
0
L
O
O
D
Q
G
2
Y
H
U
O
D
\
6
R
X
W
K
H
D
V
W
$
U
H
D
0
L
O
O
D
Q
G
2
Y
H
U
O
D
\
%U
R
R
N
O
\
Q
%
R
X
O
H
Y
D
U
G
&
R
U
U
L
G
R
U
3
U
R
M
H
F
W
W
K
$
Y
H
W
R
%
D
V
V
/
N
5
G
V
W
$
Y
H
Q
X
H
,
P
S
U
R
Y
H
P
H
Q
W
V
D
W
%
U
R
R
N
O
\
Q
%
O
Y
G
&R
Q
Q
H
F
W
L
R
Q
V
D
W
6
K
L
Q
J
O
H
&
U
H
H
N
3
K
D
V
H
&
U
H
H
N
6
W
D
E
L
O
L
]
D
W
L
R
Q
3
U
R
M
H
W
K
$
Y
H
Q
X
H
6
W
R
U
P
6
H
Z
H
U
7
U
X
Q
N
/
L
Q
H
5
H
K
D
E
L
O
L
W
D
W
L
R
Q
6
W
R
U
P
:
D
W
H
U
3
R
Q
G
V
5
H
K
D
E
/L
I
W
6
W
D
W
L
R
Q
1
R
5
H
K
D
E
L
O
L
W
D
W
L
R
Q
D
Q
G
0
L
V
V
5
L
Y
H
U
7
U
X
Q
N
6
H
Z
H
U
/
LQ
L
Q
:
H
O
O
1
R
V
D
Q
G
5
H
K
D
E
L
O
L
W
D
W
L
R
Q
6
X
E
W
R
W
D
O
*
U
D
Q
G
Y
L
H
Z
3
D
U
N
$
U
H
D
,
P
S
U
R
Y
H
P
H
Q
W
V
+X
P
E
R
O
G
W
$
Y
H
&
5
5
H
F
R
Q
V
W
U
X
F
W
L
R
Q
U
G
W
R
W
K
/R
J
D
Q
/
L
O
D
F
W
K
$
Y
H
Q
X
H
V
5
H
F
R
Q
V
W
U
X
F
W
L
R
Q
/L
I
W
6
W
D
W
L
R
Q
1
R
5
H
K
D
E
L
O
L
W
D
W
L
R
Q
:
D
W
H
U
7
R
Z
H
U
1
R
3
D
L
Q
W
L
Q
J
:
H
O
O
1
R
5
H
K
D
E
L
O
L
W
D
W
L
R
Q
6
W
R
U
P
:
D
W
H
U
3
R
Q
G
5
H
K
D
E
6
X
E
W
R
W
D
O
&Ƶ
Ŷ
Ě
Ğ
Ɛ
Đ
ƌ
ŝ
Ɖ
ƚ
ŝ
Ž
Ŷ
Ϯ
Ϭ
ϭ
ϴ
Z
Ă
ƚ
Ğ
Ϯ
Ϭ
ϭ
ϵ
Z
Ă
ƚ
Ğ
Ś
Ă
Ŷ
Ő
Ğ
tĂ
ƚ
Ğ
ƌ
Ă
Ɛ
Ğ
Ś
Ă
ƌ
Ő
Ğ
;W
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ϳ
Ψϭ
ϰ
͘
ϲ
ϰ
Ψ
ϭ
ϱ
͘
ϱ
Ϯ
Ψ
Ϭ
͘
ϴ
ϴ
ͬ
Ƌ
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
&R
Q
V
X
P
S
W
L
R
Q
&
K
D
U
J
H
±
5
H
V
L
G
H
Q
W
L
D
O
0
H
W
H
U
V
7L
H
U
,
±
J
D
O
O
R
Q
V
7L
H
U
,
,
±
J
D
O
O
R
Q
V
7L
H
U
,
,
,
D
Q
G
J
U
H
D
W
H
U
J
D
O
O
R
Q
V
J
D
O
O
R
Q
V
J
D
O
O
R
Q
V
Ž
Ŷ
Ɛ
Ƶ
ŵ
Ɖ
ƚ
ŝ
Ž
Ŷ
Ś
Ă
ƌ
Ő
Ğ
Ͳ
E
Ž
Ŷ
Ͳ
ƌ
Ğ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
;W
Ğ
ƌ
ϭ
͕
Ϭ
Ϭ
Ϭ
Ő
Ă
ů
ů
Ž
Ŷ
Ɛ
Ϳ
Ψ
ϯ
͘
Ϭ
ϰ
Ψ
ϯ
͘
ϰ
Ϯ
Ψ
Ϭ
͘
ϯ
ϴ
ͬ
ϭ
͕
Ϭ
Ϭ
Ϭ
Ő
Ă
ů
ů
Ž
Ŷ
Ɛ
^Ă
Ŷ
ŝ
ƚ
Ă
ƌ
LJ
^
Ğ
ǁ
Ğ
ƌ
Ă
Ɛ
Ğ
Ś
Ă
ƌ
Ő
Ğ
;W
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ϳ
Ψϴ
Ϯ
͘
ϰ
Ϯ
Ψ
ϴ
ϰ
͘
ϴ
ϵ
Ψ
Ϯ
͘
ϰ
ϳ
ͬ
Ƌ
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ž
Ŷ
Ɛ
Ƶ
ŵ
Ɖ
ƚ
ŝ
Ž
Ŷ
Ś
Ă
ƌ
Ő
Ğ
Ͳ
E
Ž
Ŷ
Ͳ
ƌ
Ğ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
;W
Ğ
ƌ
ϭ
͕
Ϭ
Ϭ
Ϭ
Ő
Ă
ů
ů
Ž
Ŷ
Ɛ
Ϳ
Ψ
ϯ
͘
ϯ
Ϯ
Ψ
ϯ
͘
ϱ
ϴ
Ψ
Ϭ
͘
Ϯ
ϲ
ͬ
ϭ
͕
Ϭ
Ϭ
Ϭ
Ő
Ă
ů
ů
Ž
Ŷ
Ɛ
^ƚ
Ž
ƌ
ŵ
^
Ğ
ǁ
Ğ
ƌ
Ă
Ɛ
Ğ
Ś
Ă
ƌ
Ő
Ğ
;W
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ϳ
Ψϭ
ϰ
͘
ϳ
ϳ
Ψ
ϭ
ϱ
͘
Ϭ
ϲ
Ψ
Ϭ
͘
ϯ
Ϭ
ͬ
Ƌ
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
^ƚ
ƌ
Ğ
Ğ
ƚ
>
ŝ
Ő
Ś
ƚ
Ă
Ɛ
Ğ
Ś
Ă
ƌ
Ő
Ğ
;W
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ϳ
Ψϲ
͘
ϱ
ϱ
Ψ
ϲ
͘
ϱ
ϱ
E
Ž
Đ
Ś
Ă
Ŷ
Ő
Ğ
ZĞ
Đ
LJ
Đ
ů
ŝ
Ŷ
Ő
Ă
Ɛ
Ğ
Ś
Ă
ƌ
Ő
Ğ
;W
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ϳ
Ψϭ
ϭ
͘
ϵ
ϴ
Ψ
ϭ
ϭ
͘
ϵ
ϴ
E
Ž
Đ
Ś
Ă
Ŷ
Ő
Ğ
Ƶ
ƌ
ƌ
Ğ
Ŷ
ƚ
͗
Ψ
ϵ
ϵ
t
Ă
ƚ
Ğ
ƌ
D
Ğ
ƚ
Ğ
ƌ
Ś
Ă
ƌ
Ő
Ğ
;
Z
Ğ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Ϳ
ͬ
Đ
ƚ
Ƶ
Ă
ů
Ž
Ɛ
ƚ
н
Ψ
Ϯ
;
E
Ž
Ŷ
Ͳ
ƌ
Ğ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Ϳ
KŶ
ů
LJ
Đ
Ś
Ă
ƌ
Ő
Ğ
Ě
ǁ
Ś
Ğ
Ŷ
Ă
Đ
Ƶ
Ɛ
ƚ
Ž
ŵ
Ğ
ƌ
Ž
ď
ƚ
Ă
ŝ
Ŷ
Ɛ
Ă
Ŷ
Ğ
ǁ
ǁ
Ă
ƚ
Ğ
ƌ
ŵ
Ğ
ƚ
Ğ
ƌ
;
Ŷ
Ğ
ǁ
ĐŽ
Ŷ
Ɛ
ƚ
ƌ
Ƶ
Đ
ƚ
ŝ
Ž
Ŷ
Ž
ƌ
ƌ
Ğ
Ɖ
ů
Ă
Đ
Ğ
ŵ
Ğ
Ŷ
ƚ
Ž
Ĩ
Ă
Ě
Ă
ŵ
Ă
Ő
Ğ
Ě
ŵ
Ğ
ƚ
Ğ
ƌ
Ă
Ɛ
Ă
ƌ
Ğ
Ɛ
Ƶ
ů
ƚ
Ž
Ĩ
ŝŶ
ƚ
Ğ
Ŷ
ƚ
ŝ
Ž
Ŷ
Ă
ů
Ě
Ă
ŵ
Ă
Ő
Ğ
ͬ
Ŷ
Ğ
Ő
ů
ŝ
Ő
Ğ
Ŷ
Đ
Ğ
Ϳ
EŽ
ƚ
Đ
Ś
Ă
ƌ
Ő
Ğ
Ě
Ĩ
Ž
ƌ
ǁ
Ž
ƌ
Ŷ
ͬ
Ě
Ğ
Ĩ
Ğ
Đ
ƚ
ŝ
ǀ
Ğ
ǁ
Ă
ƚ
Ğ
ƌ
ŵ
Ğ
ƚ
Ğ
ƌ
Ɛ
Wƌ
Ž
Ɖ
Ž
Ɛ
Ğ
Ě
͗
Ψϭ
ϰ
ϵ
tĂ
ƚ
Ğ
ƌ
D
Ğ
ƚ
Ğ
ƌ
Ś
Ă
ƌ
Ő
Ğ
;
Z
Ğ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Ϳ
ͬ
Đ
ƚ
Ƶ
Ă
ů
Ž
Ɛ
ƚ
н
Ψ
Ϯ
;
E
Ž
Ŷ
Ͳ
ƌ
Ğ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Ϳ
Đ
ƚ
Ƶ
Ă
ů
Đ
Ž
Ɛ
ƚ
ƚ
Ž
ƚ
Ś
Ğ
ŝ
ƚ
LJ
Ž
Ĩ
Ψ
Ϯ
ϯ
Ϭ
ͬ
ŵ
Ğ
ƚ
Ğ
ƌ
н
Đ
Ž
Ɛ
ƚ
Ɛ
Ă
Ɛ
Ɛ
Ž
Đ
ŝ
Ă
ƚ
Ğ
Ě
ǁ
ŝ
ƚ
Ś
Ɛƚ
Ă
Ĩ
Ĩ
ƚ
ŝ
ŵ
Ğ
ƚ
Ž
Ă
Ě
ŵ
ŝ
Ŷ
ŝ
Ɛ
ƚ
Ğ
ƌ
Ă
Ŷ
Ě
ƌ
Ğ
Ɖ
ů
Ă
Đ
Ğ
&Ƶ
Ŷ
Ě
Ϯ
Ϭ
ϭ
ϴ
ŝ
ů
ů
Ϯ
Ϭ
ϭ
ϵ
ŝ
ů
ů
Ψ
Ś
Ă
Ŷ
Ő
Ğ
ͬ
Ƌ
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
tĂ
ƚ
Ğ
ƌ
Ψϱ
ϴ
͘
ϱ
ϲ
Ψ
ϲ
Ϯ
͘
ϭ
ϰ
Ψ
ϯ
͘
ϱ
ϴ
^Ă
Ŷ
ŝ
ƚ
Ă
ƌ
LJ
^
Ğ
ǁ
Ğ
ƌ
Ψϴ
Ϯ
͘
ϰ
Ϯ
Ψ
ϴ
ϰ
͘
ϴ
ϵ
Ϯ
͘
ϰ
ϳ
^ƚ
Ž
ƌ
ŵ
^
Ğ
ǁ
Ğ
ƌ
Ψϭ
ϰ
͘
ϳ
ϳ
Ψ
ϭ
ϱ
͘
Ϭ
ϳ
Ϭ
͘
ϯ
Ϭ
^ƚ
ƌ
Ğ
Ğ
ƚ
>
ŝ
Ő
Ś
ƚ
Ψϲ
͘
ϱ
ϱ
Ψ
ϲ
͘
ϱ
ϱ
Ͳ
ZĞ
Đ
LJ
Đ
ů
ŝ
Ŷ
Ő
Ψϭ
ϭ
͘
ϵ
ϴ
Ψϭ
ϭ
͘
ϵ
ϴ
Ͳ
dŽ
ƚ
Ă
ů
Ψϭ
ϳ
ϰ
͘
Ϯ
ϴ
Ψ
ϭ
ϴ
Ϭ
͘
ϲ
ϯ
Ψ
ϲ
͘
ϯ
ϱ
Ψ
Ͳ
Ψ
Ϯ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϰ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϲ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϴ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϭ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϯ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
ϰ
Ϭ
͘
Ϭ
Ϭ
Ψϯ
ϵ
͘
ϱ
Ϭ
Ψϱ
ϴ
͘
ϱ
ϲ
Ψϲ
Ϯ
͘
Ϭ
ϳ
Ψϲ
Ϯ
͘
ϵ
ϰ
Ψϲ
ϴ
͘
Ϭ
ϰ
Ψϳ
ϳ
͘
ϲ
ϱ
Ψϵ
Ϭ
͘
ϱ
ϴ
Ψϵ
ϲ
͘
ϯ
Ϭ
Ψϭ
Ϭ
ϴ
͘
ϵ
ϵ
Ψϭ
Ϭ
ϵ
͘
ϱ
ϵ
Ψϭ
Ϯ
ϰ
͘
ϳ
ϭ
ZĞ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Ž
Ɛ
ƚ
Ž
Ĩ
ϭ
ϴ
͕
Ϭ
Ϭ
Ϭ
'
Ă
ů
ů
Ž
Ŷ
Ɛ
Ž
Ĩ
t
Ă
ƚ
Ğ
ƌ
Ɖ
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ĩ
Ž
ƌ
Ϯ
Ϭ
ϭϴ
Ψ
Ͳ
Ψ
Ϯ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϰ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϲ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϴ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϭ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϯ
Ϭ
͘
Ϭ
Ϭ
Ψϲ
ϭ
͘
Ϯ
Ϯ
Ψϳ
Ϯ
͘
ϭ
ϵ
Ψϳ
ϯ
͘
Ϭ
Ϯ
Ψϳ
ϴ
͘
Ϭ
ϱ
Ψϴ
Ϯ
͘
ϰ
Ϯ
Ψϴ
ϰ
͘
ϴ
ϵ
Ψϵ
Ϯ
͘
ϭ
ϲ
Ψϵ
Ϯ
͘
ϵ
ϵ
Ψϵ
ϰ
͘
ϵ
ϱ
Ψϭ
Ϭ
ϳ
͘
Ϭ
Ϭ
Ψϭ
ϭ
ϯ
͘
ϭ
ϭ
ZĞ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Ž
Ɛ
ƚ
Ž
Ĩ
ϭ
ϴ
͕
Ϭ
Ϭ
Ϭ
'
Ă
ů
ů
Ž
Ŷ
Ɛ
Ž
Ĩ
^
Ă
Ŷ
ŝ
ƚ
Ă
ƌ
LJ
^
Ğ
ǁ
Ğ
ƌ
Ɖ
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ĩ
Ž
ƌ
Ϯ
Ϭ
ϭ
ϴ
ZĞ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
h
Ɛ
Ğ
ƌ
ʹ
W
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ψ
Ͳ
Ψ
ϱ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
ϱ
͘
Ϭ
Ϭ
Ψ
Ϯ
Ϭ
͘
Ϭ
Ϭ
Ψ
Ϯ
ϱ
͘
Ϭ
Ϭ
Ψ
ϯ
Ϭ
͘
Ϭ
Ϭ
&ƌ
ŝ
Ě
ů
Ğ
LJ
Z
Ž
Ɛ
Ğ
ǀ
ŝ
ů
ů
Ğ
ƌ
Ž
Ž
Ŭ
ů
LJ
Ŷ
Ğ
Ŷ
ƚ
Ğ
ƌ
Ͳ
ϮϬ
ϭ
ϴ
ƌ
Ž
Ž
Ŭ
ů
LJ
Ŷ
Ğ
Ŷ
ƚ
Ğ
ƌ
Ͳ
ϮϬ
ϭ
ϵ
Zŝ
Đ
Ś
Ĩ
ŝ
Ğ
ů
Ě
ƌ
LJ
Ɛ
ƚ
Ă
ů
E
Ğ
ǁ
,
Ž
Ɖ
Ğ
'
Ž
ů
Ě
Ğ
Ŷ
sĂ
ů
ů
Ğ
LJ
DĂ
Ɖ
ů
Ğ
ǁ
Ž
Ž
Ě
^
Ś
Ž
ƌ
Ğ
ǀ
ŝ
Ğ
ǁ
Ψϵ
͘
Ϯ
ϰ
Ψϭ
ϯ
͘
ϯ
ϱ
Ψϭ
ϰ
͘
ϳ
ϳ
Ψϭ
ϱ
͘
Ϭ
ϳ
Ψϭ
ϳ
͘
ϳ
ϴ
Ψϭ
ϴ
͘
ϭ
ϱ
ΨϮ
ϭ
͘
ϲ
ϲ
ΨϮ
Ϯ
͘
Ϭ
Ϭ
ΨϮ
ϲ
͘
Ϯ
ϱ
ΨϮ
ϵ
͘
ϳ
Ϯ
ZĞ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
^
ƚ
Ž
ƌ
ŵ
t
Ă
ƚ
Ğ
ƌ
Ś
Ă
ƌ
Ő
Ğ
Ɖ
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ĩ
Ž
ƌ
Ϯ
Ϭ
ϭ
ϴ
Ψ
Ͳ
Ψ
ϱ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϭ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
ϱ
Ϭ
͘
Ϭ
Ϭ
Ψ
Ϯ
Ϭ
Ϭ
͘
Ϭ
Ϭ
Ψ
Ϯ
ϱ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϯ
Ϭ
Ϭ
͘
Ϭ
Ϭ
Ψϭ
ϯ
ϰ
͘
ϰ
ϱ
Ψϭ
ϱ
ϱ
͘
ϳ
ϱ
Ψϭ
ϲ
Ϯ
͘
Ϭ
Ϯ
Ψϭ
ϳ
ϵ
͘
ϭ
ϴ
Ψϭ
ϴ
ϳ
͘
ϱ
ϵ
Ψϭ
ϴ
ϳ
͘
ϳ
Ϭ
Ψϭ
ϴ
ϴ
͘
ϯ
ϲ
Ψϭ
ϴ
ϵ
͘
Ϭ
Ϯ
Ψϭ
ϵ
Ϭ
͘
ϳ
ϱ
ΨϮ
Ϭ
ϰ
͘
ϲ
ϭ
ΨϮ
ϱ
ϵ
͘
ϰ
ϴ
ϮϬ
ϭ
ϴ
Z
Ğ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
ů
LJ
ƚ
Ž
ƚ
Ă
ů
t
Ă
ƚ
Ğ
ƌ
͕
^
Ğ
ǁ
Ğ
ƌ
͕
Ă
Ŷ
Ě
^
ƚ
Ž
ƌ
ŵ
h
ƚ
ŝ
ů
ŝ
ƚ
LJ
ŝ
ů
ů
;
ϭ
ϴ
͕
Ϭ
Ϭ
Ϭ
Ő
Ă
ů
ů
Ž
Ŷ
Ɛ
Ϳ
Ψ
Ͳ
Ψ
Ϯ
͘
Ϭ
Ϭ
Ψ
ϰ
͘
Ϭ
Ϭ
Ψ
ϲ
͘
Ϭ
Ϭ
Ψ
ϴ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϯ
͘
Ϭ
Ϭ
Ψ
ϭ
ϰ
͘
Ϭ
Ϭ
EĞ
ǁ
,
Ž
Ɖ
Ğ
ƌ
LJ
Ɛ
ƚ
Ă
ů
Z
ŝ
Đ
Ś
Ĩ
ŝ
Ğ
ů
Ě
ƌ
Ž
Ž
Ŭ
ů
LJ
Ŷ
Ğ
Ŷ
ƚ
Ğ
ƌ
Ͳ
Ϯ
Ϭ
ϭ
ϴ
ƌ
Ž
Ž
Ŭ
ů
LJ
Ŷ
Ğ
Ŷ
ƚ
Ğ
ƌ
Ͳ
Ϯ
Ϭ
ϭ
ϵ
'Ž
ů
Ě
Ğ
Ŷ
s
Ă
ů
ů
Ğ
LJ
^
Ś
Ž
ƌ
Ğ
ǀ
ŝ
Ğ
ǁ
Ψϰ
͘
ϵ
Ϯ
Ψϱ
͘
Ϭ
Ϭ
Ψϱ
͘
ϳ
ϳ
Ψϲ
͘
ϱ
ϱ
Ψ
ϲ
͘
ϱ
ϱ
Ψϳ
͘
Ϭ
ϱ
Ψϭ
ϯ
͘
Ϯ
ϯ
ZĞ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
^
ƚ
ƌ
Ğ
Ğ
ƚ
>
ŝ
Ő
Ś
ƚ
Ś
Ă
ƌ
Ő
Ğ
Ɖ
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ĩ
Ž
ƌ
Ϯ
Ϭ
ϭ
ϴ
Ψ
Ͳ
Ψ
Ϯ
͘
Ϭ
Ϭ
Ψ
ϰ
͘
Ϭ
Ϭ
Ψ
ϲ
͘
Ϭ
Ϭ
Ψ
ϴ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϭ
͘
Ϭ
Ϭ
Ψ
ϭ
Ϯ
͘
Ϭ
Ϭ
Ψ
ϭ
ϰ
͘
Ϭ
Ϭ
ZŽ
Ɛ
Ğ
ǀ
ŝ
ů
ů
Ğ
&
ƌ
ŝ
Ě
ů
Ğ
LJ
D
Ă
Ɖ
ů
Ğ
ǁ
Ž
Ž
Ě
ƌ
LJ
Ɛ
ƚ
Ă
ů
E
Ğ
ǁ
,
Ž
Ɖ
Ğ
ƌ
Ž
Ž
Ŭ
ů
LJ
Ŷ
Ğ
Ŷ
ƚ
Ğ
ƌ
Ͳ
Ϯ
Ϭ
ϭ
ϴ
ƌ
Ž
Ž
Ŭ
ů
LJ
Ŷ
Ğ
Ŷ
ƚ
Ğ
ƌ
Ͳ
Ϯ
Ϭ
ϭ
ϵ
'Ž
ů
Ě
Ğ
Ŷ
s
Ă
ů
ů
Ğ
LJ
Ψϳ
͘
Ϭ
Ϭ
Ψϴ
͘
Ϯ
Ϭ
Ψϭ
Ϭ
͘
Ϯ
ϵ
Ψϭ
Ϭ
͘
ϳ
ϱ
Ψϭ
Ϭ
͘
ϵ
ϱ
Ψϭ
ϭ
͘
ϵ
ϴ
Ψ
ϭ
ϭ
͘
ϵ
ϴ
Ψϭ
ϰ
͘
Ϭ
Ϭ
ZĞ
Ɛ
ŝ
Ě
Ğ
Ŷ
ƚ
ŝ
Ă
ů
Z
Ğ
Đ
LJ
Đ
ů
ŝ
Ŷ
Ő
Ś
Ă
ƌ
Ő
Ğ
Ɖ
Ğ
ƌ
Y
Ƶ
Ă
ƌ
ƚ
Ğ
ƌ
Ĩ
Ž
ƌ
Ϯ
Ϭ
ϭ
ϴ
KƉ
Ğ
Ŷ
Ɖ
Ƶ
ď
ů
ŝ
Đ
Ś
Ğ
Ă
ƌ
ŝ
Ŷ
Ő
Ĩ
Ž
ƌ
Đ
Ž
ŵ
ŵ
Ğ
Ŷ
ƚ
Ɛ
Ž
Ŷ
Ɖ
ƌ
Ž
Ɖ
Ž
Ɛ
Ğ
Ě
ϮϬ
ϭ
ϵ
Ƶ
ƚ
ŝ
ů
ŝ
ƚ
LJ
ƌ
Ă
ƚ
Ğ
Ɛ
Ž
Ƶ
Ŷ
Đ
ŝ
ů
Đ
Ž
Ŷ
Ɛ
ŝ
Ě
Ğ
ƌ
Ă
ƚ
ŝ
Ž
Ŷ
Ž
Ĩ
͗
ZĞ
Ɛ
Ž
ů
Ƶ
ƚ
ŝ
Ž
Ŷ
Ă
Ě
Ž
Ɖ
ƚ
ŝ
Ŷ
Ő
Ϯ
Ϭ
ϭ
ϵ
ǁ
Ă
ƚ
Ğ
ƌ
Ƶ
ƚ
ŝ
ů
ŝ
ƚ
LJ
ƌ
Ă
ƚ
Ğ
Ɛ
ZĞ
Ɛ
Ž
ů
Ƶ
ƚ
ŝ
Ž
Ŷ
Ă
Ě
Ž
Ɖ
ƚ
ŝ
Ŷ
Ő
Ϯ
Ϭ
ϭ
ϵ
Ɛ
Ğ
ǁ
Ğ
ƌ
Ƶ
ƚ
ŝ
ů
ŝ
ƚ
LJ
ƌ
Ă
ƚ
Ğ
Ɛ
ZĞ
Ɛ
Ž
ů
Ƶ
ƚ
ŝ
Ž
Ŷ
Ă
Ě
Ž
Ɖ
ƚ
ŝ
Ŷ
Ő
Ϯ
Ϭ
ϭ
ϵ
Ɛ
ƚ
Ž
ƌ
ŵ
Ɛ
Ğ
ǁ
Ğ
ƌ
Ƶ
ƚ
ŝ
ů
ŝ
ƚ
LJ
ƌ
Ă
ƚ
Ğ
Ɛ
ZĞ
Ɛ
Ž
ů
Ƶ
ƚ
ŝ
Ž
Ŷ
Ă
Ě
Ž
Ɖ
ƚ
ŝ
Ŷ
Ő
Ϯ
Ϭ
ϭ
ϵ
Ɛ
ƚ
ƌ
Ğ
Ğ
ƚ
ů
ŝ
Ő
Ś
ƚ
ƌ
Ă
ƚ
Ğ
Ɛ
ZĞ
Ɛ
Ž
ů
Ƶ
ƚ
ŝ
Ž
Ŷ
Ă
Ě
Ž
Ɖ
ƚ
ŝ
Ŷ
Ő
Ϯ
Ϭ
ϭ
ϵ
ƌ
Ğ
Đ
LJ
Đ
ů
ŝ
Ŷ
Ő
ƌ
Ă
ƚ
Ğ
Ɛ
YƵ
Ğ
Ɛ
ƚ
ŝ
Ž
Ŷ
Ɛ
͍
!"# $
% $&'( )"*+ '
, - +$ + (#./0( +0 +$' +"
+,$+,$("& '( 1' $"+ " $
!"'$'
!
!
!
!"
!#
$
"
,$("'2(,$("'$3' 4 '0$ !' (
5' " ,++"+(,$("6($(6""$$
!(56'7&+
$$ +($'
$$!(,$("'$('+ +((6""+"$
' '
+'0#+0##5 " ('008'"$ #'$("4
"+7
( ,$(" '$ (' '"$+ ( ## "$+ /9/ " 6 !6($(6'(0
"$06 ""'(#0+'7("$6"":
' !0(4
"+
+ '
4" 0 $"'' + 0$
"
' + ( ,$(" '$('+"'
6((60(##0#+0 ('7((#"$'
+'(
#'$(""$4-
9+ ($'
$'$(+
"+$ $
$'
$( " ,++"+(,$("2"$+;/
4"+!
<(37
"" +'$++
$"
''# +( 82 $3'$(
" $ !"'$4(06($(00$('"$+'7,00'$ +(0(
$"6'('""6(
'( + (* +$$
6($(6
"+""6$
#'$("
''6((##!"+''
$0& ') 2& )37&++5'
"
" '$("
''( 2 % " '+$3'$6
"+4 ++
#!+$('!''+$"6(+'$
'' #'$("
''6((* +7
& )'' "'#$"
'# '((:
#
4"$(+##!"0 ()"
''+
$"7%
((
$" #"$$+'(##!"0& )7
" '#$"
'# (
$" #"$'
'+& )06($((
'
'4
+7
$
'0(,$("'$1'
$ !(+6((6 (0 6 ""'(
,$("'$:
'+
$"$'+0'"
+#
(6
"+
""6( ++6 (
((#$''0+# # * + + '
" #'$("
''+(#$''0& ') 7(:
'+'"
6'
!6+++#+(
$" $4
+600$ +"7
$4/
()" ''("+#
4"$(+(:
'+* +
+ '+ #'$("
''+:
'4(##"$##!& ')
0( #"$0( " ,(,$("/9/"6!6($(
'"$+6(( 82 $3'$+( " $ !"'$7<$ '6
+4(#
4"$(40(#
4"$(+
(#
4"$(7
%""6$"'0(#
4"$(()" ''"$+
'"2=8 3$ +
$"##!"0(:
'+* + + '0 #'$("
''+(:
'
''
& ') 0( #'$("
'/9/"6!'
4>$(##"$
$ #"6(($+''
"+()" '' #++ $4/
+(
''$+'"
7
<! 4.
(
$"##!+(0'+0(:
' +$'$'0
(# ./ 2*3 + 0 +$' + ' ( '$++ + #
4"$ ( 0 (
+ :
'$ 4
7
(' !(
$"##!+(&
' ) :
' 4 "
,$("'7 ( :
'' 6
'" 2/8 3
##!+7
$#0(##++$6($(6
"+ +$'$'0( (#./2*3 +
0 +$''$(+0
!6+$'+7(0 ++$0"$'' "
"
"" ++''+
$" '"
<7
8
/ 2%
% &
' !
!
( !"
!#
&
& ( ) 37
<$'+(' 7
!
,0,$
,4"
1
CITY OF BROOKLYN CENTER
Notice is hereby given that a public hearing will be held on the ____ day of __________, 2018, at
7:00 p.m. or as soon thereafter as the matter may be heard at City Hall, 6301 Shingle Creek
Parkway, to consider an ordinance related to elementary and secondary school interim uses in the
City’s commercial and central commerce overlay districts.
Auxiliary aids for handicapped persons are available upon request at least 96 hours in advance.
Please notify the City Clerk at 763-569-3306 to make arrangements.
ORDINANCE NO. ________
AN ORDINANCE AMENDING CHAPTER 35 OF THE CITY CODE OF
ORDINANCES REGARDING ELEMENTARY AND SECONDARY SCHOOL
INTERIM USE IN THE CITY’S COMMERCIAL AND CENTRAL COMMERCE
OVERLAY DISTRICTS
THE CITY OF BROOKLYN CENTER DOES ORDAIN:
Article I.Brooklyn Center City Code, Chapter 35, Section 35-310(3) regarding the R1 One
Family Residence District is amended as follows:
3. Interim Uses
a. Temporary classroom buildings as an accessory use to a public or p r ivate
elementary or secondary school offering a regular course of study accredited
by the Minnesota Department of Children, Families and Learning, subject to
the following procedures and conditions: in Section 35-430.
1)Interim use permits will be issued in accordance with the procedures and
subject to the conditions stated in Section 35-220.
2)At the time of granting such a permit the Council shall specify a date or
event that can be identified with certainty by which the interim use must
be terminated and the structure(s) shall be removed from the site. In
any event, however, such interim use shall not continue beyond any
date when the Council, or any other governmental body having the power
of eminent domain, adopts a resolution approving acquisition of the
property by eminent domain, or the zoning of the property is changed to
any classification under which the interim use is no longer permitted.
3)The Council may impose any conditions on such interim use which it
deems necessary or expedient to protect the public health, safety or
welfare or to assure that permission for the interim use will not
impose additional costs on the public if it is necessary or expedient to take
the property in the future.
2
No such permit shall be issued unless the applicant first agrees in
writing to the imposition of any such conditions.
4)In addition to any other conditions which may be imposed by the
Council, the following restrictions shall apply:
aa. Applicable lot standards and sign regulations shall be
observed.
bb. A landscape and parking plan for the property shall b e
submitted and approved by the Council.
cc. Unless approved by the Council pursuant to this section and section
35-220, no new buildings may be erected on the property and
no existing buildings may be expanded while the interim use
continues.
dd. Temporary classrooms may be used for classrooms only and may not
be used for storage or converted to another use.
ee. The total square footage of temporary classrooms on any one site
shall not exceed 2000 square feet.
Article II.Brooklyn Center City Code, Chapter 35, Section 35-322 regarding the C2 Commerce
District is amended as follows:
4. Interim Uses.
a. Temporary public and private elementary and secondary schools offering a
regular course of study accredited by the Minnesota Department of Education,
subject to the procedures and conditions in Section 35-430.
Article III. Brooklyn Center City Code, Chapter 35 is amended by adding a new Section 35-430
as follows:
Section 35-430. TEMPORARY SCHOOL USES.
1. Interim Use. The use of temporary classroom buildings as an accessory use to a
permanent or temporary public or private elementary or secondary school, and the
use of property for a temporary public or private elementary or secondary school,
allowed by this Chapter shall not occur except upon issuance of an interim use
permit in accordance with the procedures and subject to the conditions stated in
Section 35-220.
3
2. Application. An application for an interim use permit for a temporary school use
allowed by this Chapter may only be submitted by an existing public or private
elementary or secondary school located in the City of Brooklyn Center, offering a
regular course of study accredited by the Minnesota Department of Education.
The application for the interim use permit shall, in addition to the information
required on the application form, include the following information.
a. If the requested interim use permit is for an on-site temporary school building:
(i) The number, size, and layout of any temporary classroom buildings to be
located on the school site;
(ii) Setbacks of any proposed temporary classroom buildings to property
lines;
(iii) Elevations and/or renderings of the proposed temporary classroom
buildings;
(iv) The number of students that will be served by the temporary classroom
buildings; and
(v) The reason for the need for temporary classroom buildings and the
length of time they will be in use.
b. If the requested interim use permit is for an off-site temporary school:
(i) The location of the proposed temporary school;
(ii) The number of students and faculty that will occupy the school;
(iii) A transportation plan, which includes bus times and routes, number of
buses, number of anticipated drop-offs, and drop-off locations;
(iv) A parking and circulation plan;
(v) The reason for the need for the temporary school and the length of time
it will be in use; and
(vi) If exterior modifications to the building are proposed, elevations and/or
renderings of the proposed changes.
3. Issuance. An application for an interim use permit for a temporary school use shall
be processed in accordance with Section 35-220, except that the following
additional standards shall also be considered:
a. The proposed use must conform to the regulations in this Chapter;
4
b. The date or event that will terminate the use can be identified with certainty;
c. Allowing the use will not impose additional costs on the public if it is necessary
for the public to take the property in the future; and
d. The applicant agrees to the conditions the City Council imposes on the use.
4. Conditions. The City Council may impose any conditions on the interim use
permits it issues as it deems are necessary or expedient to protect the public
health, safety or welfare, or to ensure the use will not impose additional costs on
the public if it is necessary or expedient to take the property in the future. Every
interim use permit shall identify the date or event that will terminate the permit.
The applicant shall either expressly agree in writing to the conditions imposed on
the interim use permit or shall be deemed to have agreed to all such conditions
without exception or reservation if the applicant undertakes the use allowed by the
permit.
5. Performance Standards. In addition to any conditions placed on an interim use
permit by the City Council, the following restrictions shall apply to interim use
permits issued for a temporary school use.
a. For temporary classroom buildings:
(i) Applicable lot standards and sign regulations shall be observed;
(ii) A landscape and parking plan for the property shall be submitted
and approved by the Council;
(iii) Unless approved by the Council, no new buildings may be erected on the
property and no existing buildings may be expanded while the interim
use continues;
(iv) Temporary classrooms may be used for classrooms only and may not be
used for storage or converted to another use; and
(v) The total square footage of temporary classrooms on any one site shall
not exceed 2000 square feet.
b. For temporary schools:
(i) Applicable lot standards and sign regulations shall be observed;
(ii) A parking and circulation plan shall be submitted and approved by the
Council; and
5
(iii) Unless approved by the Council, no new buildings may be erected and
no existing buildings may be expanded on the property while the interim
use continues.
6. Renewal. An application to renew an interim use permit for a temporary school
use shall be submitted no fewer than 90 days prior to the termination of the
existing permit, and processed in the same manner as a new application.
Article IV.Brooklyn Center City Code, Chapter 35, Section 35-2240 regarding the CC Central
Commerce Overlay District is hereby amended as follows:
3. Interim Uses. The following uses are allowed in the CC Central Commerce
Overlay District with the issuance of an interim use permit.
a. Temporary public and private elementary and secondary schools offering a
regular course of study accredited by the Minnesota Department of Education,
subject to the procedures and conditions in Section 35-430.
4. Thefollowing uses arenot permitted in theCC Central Commerce Overlay
District:
a.sauna establishments
b.massage establishments
c.currency exchanges
d.pawn shops
e.secondhand goods dealers
45.The following area is hereby established as being within the CC Central
Commerce OverlayDistrict:
The CC Central Commerce Overlay District is located within the area
bounded by a continuous line beginning at a point located at the
intersection of John Martin Drive and T.H. 100 and going
southwesterly along the centerline of T.H. 100 to its intersection with
Brooklyn Boulevard; thence northerly along the easterly right-of-way
line of Brooklyn Boulevard to a point located approximately 445’
northerly of its intersection with County Road No. 10; thence east
along an extended line made up of the south boundary lines of the plats
for Grimes 2nd Addition, Hipp’s 4th Addition and Hipp’s 5th
Addition, Hennepin County, continued to the centerline of Shingle
Creek; thence northerly along the centerline of Shingle Creek to the
centerline of I-94; thence easterly along said line to the centerline of
6
Humboldt Avenue North; thence southerly to the centerline of T.H.
100; thence southwesterly to the point of the beginning.
Article V.Effective Date. This ordinance shall become effective after adoption and upon thirty
days following its legal publication.
Adopted this ___ day of __________, 2018.
_______________________________
Tim Willson, Mayor
ATTEST: _________________________
City Clerk
Date of Publication
Effective Date
(Strikeout indicates matter to be deleted, double underline indicates new matter.)
! "#
$ %&
'
()
& * +,
+'"-(.*//0"
'%1
2)( 3('#/'
' ('2('/#(''2')"((.
"((,
('"2( "!22 4)( *//0"2% "5 2
5
(2!"
2454()26
2""*//0""' (,
5(
24"5(!"# #(/
(,
('"!27# ('" 62/
"4/2*
'(/2
'
'(
&'.8 5' &
"#"2
'(/"
"# 5)(,
('"
#/ //#"#(7' 9 #
"
"&
"&':; ;84
25(4#5"' 42" 2#4&(!
(4 ((!
(
2"(4+,
2
'("2((5)+,
+'"4!((4
(5(2
2(!"
42&"
"4/ 5''(
2('"<"4(
/2"
'
,
%&'.42" 2#4
((4' 44'
="
"#"42"2((7' > "
!
&4&'
&%( //
D DKZEhD
dK͗ Ăƌď^ƵĐŝƵ͕ŝƚLJůĞƌŬ
&ZKD͗ dŝŵ'ĂŶŶŽŶŚŝĞĨŽĨWŽůŝĐĞ
d ͗ KĐƚŽďĞƌϭϭ͕ϮϬϭϴ
^h: d͗ ůĐŽŚŽůŽŵƉůŝĂŶĐĞŚĞĐŬͲ&ĂŝůƵƌĞ
KŶϭϬͬϵͬϭϴĂƚĂƉƉƌŽdžŝŵĂƚĞůLJϳ͗ϯϬƉ͘ŵ͘ŽĨĨŝĐĞƌƐĨƌŽŵƚŚĞƌŽŽŬůLJŶĞŶƚĞƌWŽůŝĐĞĞƉĂƌƚŵĞŶƚĐŽŶĚƵĐƚĞĚ
ĂůĐŽŚŽůĐŽŵƉůŝĂŶĐĞĐŚĞĐŬƐĂƚĂůůŽŶͲƐĂůĞůŝƋƵŽƌůŝĐĞŶƐĞŚŽůĚĞƌƐǁŝƚŚŝŶƚŚĞŝƚLJŽĨƌŽŽŬůLJŶĞŶƚĞƌ͘
KĨĨŝĐĞƌƐǁĞƌĞĂƐƐŝƐƚĞĚďLJĂW džƉůŽƌĞƌǁŚŽǁĂƐǁŽƌŬŝŶŐĨŽƌƚŚĞWĂŶĚŝƐƵŶĚĞƌƚŚĞĂŐĞŽĨϮϭ͘tŚĞŶ
ƚŚĞ džƉůŽƌĞƌĂƚƚĞŵƉƚĞĚƚŽƉƵƌĐŚĂƐĞĂůĐŽŚŽůĂƚ:ĂŵŵŝŶtŝŶŐƐ͕ϮϱϵϬ&ƌĞĞǁĂLJůǀĚ͕ƚŚĞďĂƌƚĞŶĚĞƌƐĞƌǀĞĚ
ƚŚĞ džƉůŽƌĞƌĂůĐŽŚŽůĞǀĞŶĂĨƚĞƌůŽŽŬŝŶŐĂƚƚŚĞƉƌĞƐĞŶƚĞĚ/ǁŚŝĐŚĐůĞĂƌůLJƐŚŽǁĞĚƚŚĞ džƉůŽƌĞƌƚŽďĞ
ƵŶĚĞƌƚŚĞůĞŐĂůĂŐĞƚŽƉƵƌĐŚĂƐĞ͘
dŚĂƚďĂƌƚĞŶĚĞƌǁĂƐƚŚĞŶĂƌƌĞƐƚĞĚĂŶĚƉŽƐŝƚŝǀĞůLJŝĚĞŶƚŝĨŝĞĚǁŚŝĐŚŝƐŵĂŝŶƚĂŝŶĞĚŝŶƚŚĞŽĨĨŝĐŝĂůƉŽůŝĐĞ
ƌĞƉŽƌƚ;ϭϴͲϬϬϰϯϬϬͿ͘dŚĞĂƌƌĞƐƚĞĚǁŝůůďĞĐŚĂƌŐĞĚǀŝĂĨŽƌŵĂůĐŽŵƉůĂŝŶƚǁŝƚŚĂĐŚĂƌŐĞŽĨ&ƵƌŶŝƐŚŝŶŐ
ůĐŽŚŽůƚŽĂDŝŶŽƌ;'DͿ͘
dŚĞƌĞǁĞƌĞŶŽŽƚŚĞƌĂůĐŽŚŽůĐŽŵƉůŝĂŶĐĞĨĂŝůƵƌĞƐĚƵƌŝŶŐƚŚŝƐƌŽƵŶĚŽĨĐŽŵƉůŝĂŶĐĞĐŚĞĐŬƐ͘
01/22/18 -4-
of which are located adjacent to Lilac Drive North. The subject area for vacation was formerly
used for a section of roadway that is being removed as part of the Brooklyn Boulevard Corridor
Project Phase 1. This vacated area would be used to mitigate the loss of parking on the
Brookdale Covenant Church property due to the installation of a new signal at Highway 100
south ramp and the extension of Lilac Drive North.
Mr. Cote described the land exchange agreement and explained the property owner will be
required to dedicate a drainage and utility easement over the vacated portion of the right-of-way
to maintain access to the existing utilities within the vacated area. He noted this item was first
read on December 11, 2017, published in the official newspaper on December 21, 2017, and
offered this evening for Public Hearing and adoption of the ordinance.
Councilmember Ryan moved and Councilmember Butler seconded to open the Public Hearing.
Motion passed unanimously.
No one appeared to address this item.
Councilmember Ryan moved and Councilmember Lawrence-Anderson seconded to close the
Public Hearing.
Motion passed unanimously.
Councilmember Graves moved and Councilmember Ryan seconded to adopt ORDINANCE NO.
2018-01 Vacating a Portion of Right-of-Way: Lilac Drive North.
Motion passed unanimously.
8b. CONSIDERATION OF LIQUOR LICENSE ENFORCEMENT ACTION AT
JAMMIN WINGS, 2590 FREEWAY BOULEVARD
City Clerk Sharon Knutson introduced the item and stated the purpose of this agenda item to
consider liquor license enforcement action at Jammin Wings, 2590 Freeway Boulevard. She
presented history of this consideration, explaining that on November 27, 2017, Mr. Brown,
owner of Jammin Wings, submitted a renewal application and fee fo r a S t a t e a n d C i t y
intoxicating liquor license and Sunday liquor license, as well as the City application for an
optional 2 a.m. liquor license. On December 11, 2017, the City Council approved the issuance
of these liquor licenses. On or about December 19, 2017, while preparing the licenses for
issuance, she checked with the State of Minnesota Department of Alcohol and Gambling
Enforcement Division website to make sure the 2 a.m. permit was active and discovered it had
expired on August 1, 2017. Ms. Knutson stated she then contacted the Alcohol and Gambling
Enforcement Division to confirm and they affirmed it had not been submitted as of that date.
Ms. Knutson stated she informed the City Manager and then Mr. Brown that the permit had
lapsed so the City could not issue a liquor license until that permit had been approved by the
State. Mr. Brown informed her that he had not received that application from the State and was
01/22/18 -5-
unaware it was not active at the time. Mr. Brown then took immediate action to renew the 2 a.m.
permit with the State, which she confirmed with the State, and then issued that license.
Ms. Knutson stated on January 8, 2018, she received an email notification from the State AGED
and learned the check submitted by Mr. Brown was NSF for a closed account so, therefore, the
permit was not valid. In consulting with the City Manager and City Attorney, it was agreed a
violation of Minnesota Statutes, Section 340A.504, subdivision 7, had occurred. Ms. Knutson
noted the City Attorney has drafted a memorandum, which was provided in the meeting packet,
to outline the enforcement action options that can be considered by the City Council following
the Public Hearing.
Councilmember Lawrence-Anderson moved and Councilmember Graves seconded to open the
Public Hearing.
Motion passed unanimously.
Mr. Brown explained that in the past, he got a package from the City to pay for the license and
did not realize the State permit for optional 2 a.m. was due on August 1st. However, as the City
Clerk stated, his account was closed. He said it was tampered with so the bank closed the
account. He paid for the State permit, but the State took longer to go forward with the check and
the account was closed by the bank on January 2, 2018. He stated he thought the State’s check
had cleared but it did not. Mr. Brown stated he paid the check to the State as well as the bounced
check fee.
Mayor Willson explained that any time there is a violation, the City has to address it and it does
not matter when it occurred, but that a violation did occur. So tonight, the City will hold the
public hearing and obtain advice from staff as well as the City Attorney.
Mr. Brown stated he would like a 4 a.m. license during the upcoming Super Bowl. Mayor
Willson referenced the memorandum that contained the request for the 4 a.m. license, which is a
different issue than what is under consideration at this time.
Mr. Boganey asked questions of Mr. Brown to determine the dates the checks were written and
when the account was closed. He recounted that the check was written on December 19, 2017,
the State contacted the City on January 8, 2018, and the account closed on January 2, 2018. He
asked if on December 19, 2017, when the check was written to the State there were sufficient
funds on that date. Mr. Brown answered in the affirmative.
Councilmember Graves moved and Councilmember Butler seconded to close the Public Hearing.
Motion passed unanimously.
City Attorney Troy Gilchrist clarified that on Page 1 of his memorandum, last sentence, it should
indicate: “This violation does not rise to that level.” He described the range of options before the
City Council for a liquor license violation, noting this does not trigger mandatory revocation but
ranges from no penalty at all, a civil penalty up to $2,000, and/or suspension of the liquor license
01/22/18 -6-
for no greater than 60 days. He noted with each option, there is flexibility including a limited
suspension or imposition of a penalty with suspension of a portion conditioned on not having
another violation. Mr. Gilchrist stated the civil penalty can be in addition to suspension or
revocation. He noted the violation was focused on serving after 1 a.m. without the appropriate
permit.
Mayor Willson pointed out if the 2 a.m. permit is suspended, then the 4 a.m. permit cannot go
forward. He asked about imposing an administration fee to cover staff time and expenses, such
as is imposed with rental licenses, as well as a civil penalty so the violation is documented.
Mayor Willson stated the City does not want to see any more violations but if one should occur,
this will provide documentation to take stronger action. Mr. Gilchrist advised if the City Council
is inclined to consider a suspension or revocation, he would recommend directing staff to prepare
a resolution for consideration at the next meeting.
Councilmember Graves stated the City has been working with this business on other issues and
the City Council has considered its liquor licenses, seating, and other requirements as well. She
stated she enjoys going to Jammin Wings and likes that it is open until 2 a.m., noting it is one of
the only Black-owned businesses in the City. But that being said, Councilmember Graves
wanted to assure the rules are followed so Jammin Wings can stay there. She stated she supports
imposing a civil penalty of up to $2,000 and suspending it conditioned on there being no further
violations.
Mr. Brown pointed out that in the four and a half years he has been in business, there has been
only one violation, which not many bars or restaurants can say.
Mayor Willson stated the City needs to be consistent with enforcing its ordinances across the
board. He offered the option to consider a $1,000 civil penalty plus $300 administrative fee to
cover staff time and suspend the civil penalty. He noted this would be similar to a rental
ordinance violation where an administration fee is charged. Mr. Boganey stated it would
probably need to be a $1,300 civil penalty and suspending $1,000. He indicated the notion of
$300 being the amount to account for staff time may not be an unreasonable assessment of cost
when considering his time, and the City Attorney’s and City Clerk’s time in dealing with this
issue over the past several weeks.
Mayor Willson stated he would like to consider an administrative fee. Mr. Boganey asked
whether the ordinance provides for an administrative fee penalty. Mr. Gilchrist agreed with Mr.
Boganey that the penalty would need to be cast as a civil penalty, noting the City’s cost at $300
is modest but would be partial reimbursement.
Councilmember Lawrence-Anderson stated that is less than she was thinking to impose but is
willing to consider that level. She suggested the resolution cite that no further violations shall
occur, noting the City wants to make sure the new liquor establishments it is trying to attract
know they are required to follow the rules.
Mayor Willson clarified the discussion was to suspend $1,000 of the civil penalty unless another
violation were to occur. In that case, the $1,000 civil penalty would be imposed.
01/22/18 -7-
Councilmember Ryan noted that testimony from Mr. Brown indicates there was no intentional
negligence. He asked how it operates with the State when there is a glitch in the payment and
whether there is no communication from the State to the license holder of the need to cure the
situation. Ms. Knutson described the permitting and licensing procedure, explaining that with
the 2 a.m. license, the State of Minnesota Alcohol and Enforcement Division authorizes the City
to issue the liquor license. The State issues a permit for one year from whenever the applicant
applies and the City issues its license the calendar year from January 1 to December 31. Ms.
Knutson explained the State does not notify the City that someone did not renew their permit and
from August 1 to December 19, Jammin Wings did not have permission from the Commissioner
of Public Safety to operate until 2 a.m. She stated this is the first time this situation has occurred,
and Mr. Brown indicated he did not get anything from the State to say he needed to renew his
permit.
Mr. Boganey explained the State timeframe is based on when the business owner makes
application for their first permit. Up to this year, Jammin Wings always renewed the State
permit but there was a change in the management structure of the business and that did not
happen.
Councilmember Ryan stated while it is the owner’s responsibility, it is an example of a mistake
and they need to be held responsible but not in a punitive manner. He stated his support to
consider a civil penalty with the greater part suspended unless subsequent violations occur.
Mr. Gilchrist asked for a sense of duration for the subsequent violations. Mayor Willson stated
the license will be renewed December 31 so the suspension could be through the license period.
The City Council agreed with the logic to tie the violation term to the license term.
Councilmember Ryan moved and Councilmember Graves seconded to direct staff to prepare a
resolution to impose a $1,300 civil penalty, suspending $1,000, contingent upon no further liquor
license violations.
Motion passed unanimously.
Councilmember Graves stated support to consider Jammin Wings’ request for a 4 a.m. liquor
license.
Mayor Willson asked staff if there is an underlying issue to not consider that request. Mr.
Boganey stated he has no new information but in a previous memo discussing the optional 2 a.m.
liquor license elimination, it was indicated that a significant number of violations and police calls
occur after 1 a.m.
Mayor Willson pointed out that another violation would go against the license.
Mr. Brown noted it is only for a short period of time, during the Super Bowl, and they will
increase security during that time.
01/22/18 -8-
Police Chief Tim Gannon stated there are a select number of days and at this time, he would not
oppose this request.
Mr. Boganey indicated under the City’s ordinance, staff has the authority to issue this permit if it
is not opposed by the City Council.
The consensus of the City Council was to support the administrative issuance of a 4 a.m. liquor
license to Jammin Wings during the Super Bowl.
9. PLANNING COMMISSION ITEMS
- None.
10. COUNCIL CONSIDERATION ITEMS
10a. CONSIDERATION OF TYPE IV 6-MONTH PROVISIONAL RENTAL
LICENSES
Mayor Willson explained the streamlined process that will now be used to consider Type IV 6-
Month Provisional Rental Licenses.
Mayor Willson polled the audience and asked whether anyone was in attendance to provide
testimony on any of the rental licenses as listed on tonight’s meeting agenda. Seeing no one
coming forward, Mayor Willson called for a motion on Agenda Items 10a1 through 10a6.
10a1. 4200 JOYCE LANE
10a2. 6325 KYLE AVENUE N.
10a3. 6424 SCOTT AVENUE N.
10a4. RESOLUTION NO. 2018-26 APPROVING A TYPE IV 6-MONTH
PROVISIONAL RENTAL LICENSE FOR 4450 58TH AVENUE N.
10a5. RESOLUTION NO. 2018-27 APPROVING A TYPE IV 6-MONTH
PROVISIONAL RENTAL LICENSE FOR 6015 ALDRICH AVENUE N.
10a6. RESOLUTION NO. 2018-28 APPROVING A TYPE IV 6-MONTH
PROVISIONAL RENTAL LICENSE FOR 6718 COLFAX AVENUE N.
Councilmember Ryan moved and Councilmember Graves seconded to approve the issuance of a
Type IV six-month provisional rental license and mitigation plan for the following: 4200 Joyce
Lane, 6325 Kyle Avenue N., 6424 Scott Avenue N., and, adopt Resolution No. 2018-26
Approving a Type IV 6-Month Provisional Rental License for 4450 58th Avenue N.; Resolution
No. 2018-27 Approving a Type IV 6-Month Provisional Rental License for 6015 Aldrich
Avenue N.; and, Resolution No. 2018-28 Approving a Type IV 6-Month Provisional Rental
License for 6718 Colfax Avenue N., with the requirement that the mitigation plans and all
applicable ordinances must be strictly adhered to before renewal licenses would be considered.
Motion passed unanimously.
! "#
$ %&
'
()
& * ##+, !(-*../"01'23
2'" &
&("
23
2'"
4,"",!(-*../"01'(3
('" &
&("23
2'" ,"
!
( #'((%#(' , " %
!,,, (-.!"#('
"
'( " .
!
&-&'
&%( ..
#(1'(('
! "##$%&
' ( )&!) "*+#",% ) )
-*%&&!)-
!" #
" .!/+
&%0,---&-##*-)
!/#.--)
))-"1--&&!!)- )&2"
&%&!!))"#%%0-1
-,-#&-##
%30"%&
-&"))")&
2 "")&!-*%&&!!)- )&2
24!*%!*#!&-))-#%%%)"-*%/
----" 2
+2)")##5&%%#-.&26
72 &"0)0"5
%&%%-#-.&26
824&%
)"**-)"&)*--!9)/%0:")##5
%&%%-#-.&26
;2))%*.-#<.%)+%&-"%)-=
"!&!*%-*%4-*&
&"&,%-2
"&"))&)-&*"&"-&!!))2
$*-)-*%&&!!)- )&)#&-
2%%#&-"0)5-6"./&")5"-*%26
2'1/-&/-*&&-0)#))**%%%%)"-*%/
----0""
:&%%0 "&,>$%&0"&"=
-&)&)-.!)
*!
&"&,>2
/:
--0"&"&%
)-"!)"!))--#"*!
-?!,!)%)%&-
*%#."&%?)#!#*!2
&:$.)
%%%-##&*0"" #,% 2
):-
"%%##&-#"0-"*
*!-)"-*-/%!*%--"%%*.)
"!))-->!%)%*"
!/" 2
:!"-*-/%!*%!
-/*!--%%!-2
#:*%&-*&!-#
--0"#
-!)-.&#"&-&
.)-/".
-
-*&
-%!"""-*%&&!!)--##/-))1*&&
%)
-/%-
-*&-%0#
%2
+2@&%%#-.&A-&!%&..%#&&)%&%%#-.&=
*%&-*-?1&*!)&%!&-)!-&-)*&.*%&!-
-/-.)/"
&&-&&!!)**)--*))/" 2B
"-
*)))##
"&%#-0"&%%#-.&-)#
"&%#-"%!-%%#"*%&
-.&&%%-0"-*--&--0
%)/&%&
%)"&%%%2$%-,
"0""-**-%%%*%&-*--9&%
)"1&*-%)%-):0%%&
0)-"
&%&
%)%--#0"!,-"-.&&%%24"0)-""%!%-##1&*
0
%)/!.)#!")#2
72C0%%
%3*--!#"5
%&%%-#-.&26"!"))!
%&%%-#
-.&-&%&
%)/"%
!/#*-**%&&%%*
-""&)*
--!2.)"-
%/"
!/#!-"-*&#&%)"-*%/
---2"-*&--
0%%-*&#&%%)#&"*%&&%%)--****%/-)"-.#"
&)2
82$*-)"&)$'-!
8$-D% !
+$- "$ !
$-$ !-)%% " %%-#'.&9$ )&:
>$%%!*% %%-#$%&EE *0
%)/!.)*&&
&2
;2%")'#4-*&#!-%-&")2"-#!0
%)/
%3)#%"-%)
"-*%/
----"".<.%+%&-*/-)"*%&&%%-#-.&"-2
4-/%.)"#"!)#&-")&0%%".*-.!*&/)&-*
/%&-#
&%%-#-.&)&--##%%0".-,% 6-%)"-*%/
-----0%%
-"!*%-2
"))%-#)"%"-*&-"F-=
)#%.%%.%+%&-0%%.%.-###!
%)) !!
'))-24.0"&
)*%"%!%--&-0#)"
."-*&-!/&--+**-2-).%
/
%))
!!
'))-##-
)))%-##0
%)/))&)
&"--*&-2--
&"
"/
)--
-*2
!
'#'&
'/% !!
ŝƚLJŽĨƌŽŽŬůLJŶĞŶƚĞƌ
,ŽƐƉŝƚĂůŝƚLJĐĐŽŵŵŽĚĂƚŝŽŶ
/ŶƐƉĞĐƚŝŽŶŚĞĐŬůŝƐƚ
ƵƐŝŶĞƐƐEĂŵĞͬĚĚƌĞƐƐͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ/ŶƐƉĞĐƚŝŽŶĂƚĞͺͺͺͺͺͺͺͺͺͺͺͺ
DĂŶĂŐĞƌͬ^ƵƉĞƌǀŝƐŽƌEĂŵĞͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ EŽ͘ŽĨZŽŽŵƐ/ŶƐƉĞĐƚĞĚͺͺͺͺͺͺͺͺͺͺͺ
/ŶƚĞƌŝŽƌZĞƋƵŝƌĞŵĞŶƚƐ
ͺͺϭ͘&ůŽŽƌƐ͗ŚĂůůǁĂLJƐ͕
ƐƚĂŝƌǁĂLJƐ͕ŐƵĞƐƚƌŽŽŵƐ͕
ďĂƚŚƌŽŽŵƐĂŶĚƐƚŽƌĞƌŽŽŵƐ
ĂƌĞĐůĞĂŶ͕ƐĂŶŝƚĂƌLJ͕ƐŵŽŽƚŚ͕
ŝŶŐŽŽĚƌĞƉĂŝƌ͕ĂŶĚĂƉƉƌŽǀĞĚ
ĐŽǀĞƌĂŐĞ͘
ͺͺϮ͘tĂůůƐĂŶĚĐĞŝůŝŶŐƐ͗
ŚĂůůǁĂLJƐ͕ƐƚĂŝƌǁĂLJƐ͕ŐƵĞƐƚ
ƌŽŽŵƐ͕ďĂƚŚƌŽŽŵƐĂŶĚƐƚŽƌĞ
ƌŽŽŵƐĂƌĞĐůĞĂŶĞĚ͕ƉĂŝŶƚĞĚ͕
ĂŶĚŝŶŐŽŽĚƌĞƉĂŝƌ͘
ͺͺϯ͘^ƚƵĚƐ͕ũŽŝƐƚƐ͕ƌĂĨƚĞƌƐĂƌĞ
ŶŽƚĞdžƉŽƐĞĚĞdžĐĞƉƚǁŚĞŶ
ƐƵŝƚĂďůĞ͘&ŝŶŝƐŚĞĚĂŶĚŬĞƉƚ
ĐůĞĂŶ͘
ͺͺϰ͘tŝŶĚŽǁƐĂƌĞƉƌŽƉĞƌůLJ
ƐĐƌĞĞŶĞĚ͘
ͺͺϱ͘ůůƌŽŽŵƐĂŶĚŚĂůůǁĂLJƐ
ƵƐĞĚďLJƉĂƚƌŽŶƐĂƌĞǁĞůůůŝƚ͘
ͺͺϲ͘ZŽŽŵƐĂƌĞǀĞŶƚŝůĂƚĞĚ
ŽƵƚƐŝĚĞ͘
ͺͺϳ͘dĞŵƉĞƌĞĚ͕ŵĂŬĞͲƵƉĂŝƌ
ĚƵƌŝŶŐǁŝŶƚĞƌ͘
ͺͺϴ͘ůůƌŽŽŵƐŵĞĞƚ
ŵŝŶŝŵƵŵŚĞĂƚƌĞƋƵŝƌĞŵĞŶƚƐ
ĂƚŚƌŽŽŵZĞƋƵŝƌĞŵĞŶƚƐ
ͺͺϵ͘dŽŝůĞƚŝƐŝŶŐŽŽĚƌĞƉĂŝƌ͘
ͺͺϭϬ͘^ŚŽǁĞƌͬdƵďŝƐŝŶŐŽŽĚ
ƌĞƉĂŝƌ͘
ͺͺϭϭ͘ƉƉƌŽǀĞĚƐŽƵƌĐĞŽĨ
ǁĂƚĞƌĂŶĚĂĚĞƋƵĂƚĞƐƵƉƉůLJ
ƵŶĚĞƌƉƌĞƐƐƵƌĞ͘
ͺͺϭϮ͘,ŽƚǁĂƚĞƌĚŽĞƐŶŽƚ
ĞdžĐĞĞĚϭϯϬĚĞŐƌĞĞƐ
&ĂŚƌĞŶŚĞŝƚ͘
WůƵŵďŝŶŐĂŶĚ^ǁŝŵŵŝŶŐ
ͺͺϭϯ͘ZWŝŶƐƉĞĐƚŝŽŶƌĞƉŽƌƚ
ŝƐŵĂĚĞĂǀĂŝůĂďůĞ͘
ͺͺϭϰ͘tĂƚĞƌ^ŽĨƚĞŶĞƌĐůĞĂŶ
ĂŶĚŵĂŝŶƚĂŝŶĞĚ͘
ͺͺϭϱ͘tĂƚĞƌŚĞĂƚĞƌƐĂƌĞŝŶ
ŐŽŽĚƌĞƉĂŝƌ͘
ͺͺϭϲ͘WƵďůŝĐƉŽŽůƐĂŶĚ
ĨĂĐŝůŝƚŝĞƐŝŶƐƉĞĐƚŝŽŶƌĞƉŽƌƚ
ŵĂĚĞĂǀĂŝůĂďůĞ͘
hŶŝƚƐ;ϭϱйŽĨĂůůƌĞǀŝĞǁĞĚͿ
ͺͺϭϳ͘ŽŽƌůŽĐŬƐ;ĚĞĂĚďŽůƚͿ͘
ͺͺϭϴ͘tŝŶĚŽǁƐĞĐƵƌŝƚLJŽŶĂůů
ǁŝŶĚŽǁƐ͘
ͺͺϭϵ͘EƵŵďĞƌĐůĞĂƌůLJ
ŝĚĞŶƚŝĨŝĞĚĂƚĞĂĐŚƵŶŝƚ͘
ͺͺϮϬ͘ LJĞǀŝĞǁƐŝŶĞĂĐŚ
ĚŽŽƌ͘
ͺͺϮϭ͘^ƚƌŝŬĞƌƉůĂƚĞĂŶĚ
ƐĐƌĞǁƐŝŶƉůĂĐĞ͘
ͺͺϮϮ͘^ŵŽŬĞĂŶĚKůĂƌŵƐ
ŝŶŽƉĞƌĂďůĞĐŽŶĚŝƚŝŽŶ͘
ŽŵŵŽŶƌĞĂƐ
ͺͺϮϯ͘^ƵƌǀĞŝůůĂŶĐĞŝŶ
ǁŽƌŬŝŶŐŽƌĚĞƌ;ŝĨƌĞƋƵŝƌĞĚŽƌ
ƉƌŽǀŝĚĞĚďLJƚŚĞƉƌŽƉĞƌƚLJ
ŽǁŶĞƌͿ͘
ͺͺϮϰ͘EŽdƌĞƐƉĂƐƐƐŝŐŶƐĂƚ
ĂůůĞŶƚƌĂŶĐĞƐĂŶĚͬŽƌƉůĂĐĞĚ
ŝŶůŽĐĂƚŝŽŶƐƚŚĂƚĐĂŶďĞ
ĐůĞĂƌůLJƐĞĞŶďLJĂůůŐƵĞƐƚƐĂŶĚ
ǀŝƐŝƚŽƌƐ͘
ͺͺϮϱ͘WƌŽƉĞƌůŝŐŚƚŝŶŐ͘
ͺͺϮϲ͘ ůĞǀĂƚŽƌŝŶƐƉĞĐƚŝŽŶ
ƌĞƉŽƌƚŝƐĂǀĂŝůĂďůĞŽŶƐŝƚĞ
ͺͺϮϳ͘&ŝƌĞŝŶƐƉĞĐƚŝŽŶƌĞƉŽƌƚ
ŝƐĂǀĂŝůĂďůĞŽŶƐŝƚĞ
ͺͺϮϴ͘ƵŝůĚŝŶŐ͕ƉůƵŵďŝŶŐ͕
ŵĞĐŚĂŶŝĐĂů͕ĞůĞĐƚƌŝĐĂůĂŶĚ
ŽƚŚĞƌďƵŝůĚŝŶŐƉĞƌŵŝƚƐĂƌĞ
ĐůŽƐĞĚŽƵƚ
ͺͺϮϵ͘hƚŝůŝƚLJƌŽŽŵƐĂƌĞĐůĞĂƌ
ŽĨƐƚŽƌĂŐĞĂŶĚŵĞĐŚĂŶŝĐĂů
ĂŶĚĞůĞĐƚƌŝĐĂůĞƋƵŝƉŵĞŶƚŝƐ
ĂĐĐĞƐƐŝďůĞ
WƌŽƉĞƌƚLJ džƚĞƌŝŽƌ
ͺͺϯϬ͘'ƌŽƵŶĚĐŽǀĞƌƉůĂŶƚƐ
ĚŽŶŽƚĞdžĐĞĞĚƚŚƌĞĞĨĞĞƚŝŶ
ŚĞŝŐŚƚ͘
ͺͺϯϭ͘WůĂŶƚƐƵŶĚĞƌǁŝŶĚŽǁƐ
ĂƌĞŵĂŝŶƚĂŝŶĞĚĂƚĂŚĞŝŐŚƚ
ƚŚĂƚŝƐďĞůŽǁƚŚĞǁŝŶĚŽǁƐŝůů͘
ͺͺϯϮ͘dƌĞĞƐĂƌĞƚƌŝŵŵĞĚƐŽ
ƚŚĞůŽǁĞƌďƌĂŶĐŚĞƐĂƌĞĂƚ
ůĞĂƐƚĨŝǀĞĨĞĞƚŽĨĨƚŚĞŐƌŽƵŶĚ͘
ͺͺϯϯ͘>ĂŶĚƐĐĂƉŝŶŐĚŽĞƐŶŽƚ
ŝŶƚĞƌĨĞƌĞǁŝƚŚůŝŐŚƚŝŶŐ
ĚŝƐƚƌŝďƵƚŝŽŶ͘
ͺͺϯϰ͘^ƵƌǀĞŝůůĂŶĐĞŝŶ
ǁŽƌŬŝŶŐŽƌĚĞƌ
ͺͺϯϱ͘'ƌŽƵŶĚĐŽǀĞƌƐƵĐŚĂƐ
ŵƵůĐŚĂŶĚƌŽĐŬŝƐĂĚĞƋƵĂƚĞ
ƚŽƉƌŽǀŝĚĞĐŽǀĞƌ͘
ͺͺϯϲ͘WƌŽƉĞƌƚLJͬĨĂĐŝůŝƚLJĨƌĞĞ
ŽĨůŝƚƚĞƌĂŶĚƌƵďďŝƐŚ͘
ͺͺϯϳ͘'ĂƌďĂŐĞƌĞĐĞƉƚĂĐůĞƐ
ĂƌĞĐůĞĂŶĂŶĚŝŶŐŽŽĚƌĞƉĂŝƌ͘
ͺͺϯϴ͘dƌĂƐŚĞŶĐůŽƐƵƌĞƐĂƌĞ
ƉƌŽƉĞƌůLJƐĐƌĞĞŶĞĚĂŶĚŝŶ
ŐŽŽĚƌĞƉĂŝƌ͘
ͺͺϯϵ͘ džƚĞƌŝŽƌůŝŐŚƚŝŶŐŝƐ
ŽƉĞƌĂďůĞĂŶĚĨƵŶĐƚŝŽŶĂů͗
ͺͺƵŝůĚŝŶŐĞdžƚĞƌŝŽƌ͘
ͺͺdƌĂƐŚĞŶĐůŽƐƵƌĞƐ͘
ͺͺ ŶƚƌLJĂŶĚĞdžŝƚƉŽŝŶƚƐ͘
ͺͺWĂƌŬŝŶŐůŽƚƐ͘
dŚĞĂďŽǀĞŵƵƐƚďĞĐŽƌƌĞĐƚĞĚĂƐŝŶĚŝĐĂƚĞĚ͘&ĂŝůƵƌĞƚŽĐŽŵƉůLJŵĂLJƌĞƐƵůƚŝŶĨƵƌƚŚĞƌĂĐƚŝŽŶ͘
ĂƚĞ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ZĞĐĞŝǀĞĚLJ͘ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ŽŵŵƵŶŝƚLJĞǀĞůŽƉŵĞŶƚ ϳϲϯͲϱϲϵͲϯϯϯϬͲWŚŽŶĞ
ϲϯϬϭ^ŚŝŶŐůĞƌĞĞŬWŬǁLJ ϳϲϯͲϱϲϵͲϯϯϲϬͲ&Ădž
ǁǁǁ͘ĐŝƚLJŽĨďƌŽŽŬůLJŶĐĞŶƚĞƌ͘ŽƌŐ
ŽŵŵĞŶƚƐͬŽƌƌĞĐƚŝŽŶKƌĚĞƌƐ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
REVISED DRAFT
12-2-18
1
539005v6 TJG BR291-4
CITY OF BROOKLYN CENTER
Notice is hereby given that a public hearing will be held on the ____ day of __________, 2018, at
7:00 p.m. or as soon thereafter as the matter may be heard at City Hall, 6301 Shingle Creek
Parkway, to consider an ordinance related to hospitality accommodations.
Auxiliary aids for handicapped persons are available upon request at least 96 hours in advance.
Please notify the City Clerk at 763-569-3306 to make arrangements.
ORDINANCE NO.
AN ORDINANCE AMENDING CHAPTER 23 OF THE BROOKLYN CENTER CITY
CODE REGARDING HOSPITALITY ACCOMMODATIONS
THE CITY OF BROOKLYN CENTER DOES ORDAIN:
Article I. Brooklyn Center City Code, Chapter 23, Sections 23-2400 through 23-2415 are
hereby amended by deleting them in their entirety and replacing them with the following:
HOSPITALITY ACCOMMODATIONS
Section 23-2400. PURPOSE. It is the purpose of these Sections 23-2400 through 23-
2415 to ensure that hotels and motels (referred to collectively in these Sections as a “hospitality
accommodation”) are complying with certain minimum standards and are implementing
measures as may be needed to discourage the use of their facilities for criminal activities in order
to protect the safety of their guests and the public. Those owning and operating hospitality
accommodations in the City have a responsibility to ensure their guests and visitors have
accommodations that are safe, secure, free from unreasonable noise, nuisances, and threats to
their safety and security.
Section 23-2401. LICENSE REQUIRED. It is unlawful for any person, firm, or
corporation to operate a hospitality accommodation in the City without a hospitality
accommodation license issued pursuant to Sections 23-2400 through 23-2415. A separate
license is required for each hospitality accommodation property.
Section 23-2402. DEFINITIONS
A. “Annual calls for service” – The aggregate total of all the points, specified in
Section 23-2404(E), assigned to the calls for service to a hospitality
accommodation property in a calendar year divided by the total number of
lodging units in the hospitality accommodation as determined by the City.
B. “Call for service” – Includes any of the following:
REVISED DRAFT
12-2-18
2
539005v6 TJG BR291-4
1. Any report made to the police department of criminal activity, violation of
the city code, or a general call for service requiring a police response from
or concerning a hospitality accommodation in connection with an incident
occurring at that hospitality accommodation property, except calls for a
medical emergency or domestic assault; or
2. Any incident observed by police concerning a hospitality accommodation
property and is responded to by a police officer.
Only a call for service that is verified by the responding police officer as being a
valid call for service shall be included in the annual calls for service calculation
for the purposes of these Sections 23-2400 through 23-2415.
C. “Hospitality accommodation” – Any facility such as a hotel, motel, condominium,
resort, or any other facility or place offering six or more lodging units to guests
for periods of less than thirty days, but not including jails, hospitals, care
facilities, senior living centers, residential treatment facilities, prisons, detention
homes, and similar facilities.
D. “Hospitality accommodation property” – Any land containing a facility for
hospitality accommodation including any associated parking areas, recreation
areas, loading areas, or other amenities located on the same parcel of property.
E. “Hospitality accommodation license” or “license” – A license issued by the City
to a level I hospitality accommodation, a level II hospitality accommodation, or a
level III hospitality accommodation.
F. “Level I hospitality accommodation” – Any hospitality accommodation whose
annual calls for service are less than .20 calls per lodging unit.
G. “Level II hospitality accommodation” – Any hospitality accommodation whose
annual calls for service are at least .20 calls per lodging unit, but less than .40
calls per lodging unit.
H. “Level III hospitality accommodation” – Any hospitality accommodation whose
annual calls for service are at least .40 calls per lodging unit or greater.
I. “Lodging unit” – One self-contained unit within a hospitality accommodation
designated by number, letter, or some other method of identification that is
designed or used for overnight accommodations. A lodging unit shall not include
areas or rooms not utilized for overnight accommodations such as banquet rooms,
meeting rooms, business centers, pool areas, and workout rooms.
J. “Part 1 crime” – Any crime identified in the Uniform Crime Reporting Program
as a Part 1 crime, but which does not constitute a “violent crime” as defined in
REVISED DRAFT
12-2-18
3
539005v6 TJG BR291-4
this Section. Part 1 crimes include, but are not necessarily limited to, theft, auto
theft, burglary, or arson (first, second, or third degree).
K. “Police department” – The City of Brooklyn Center Police Department.
L. “Property safety inspection” – An annual inspection of level II and level III
hospitality accommodations conducted by the City based on a hospitality
accommodation inspection checklist developed by the City and adopted by the
City Council.
M. “Violent crime” – Is any homicide (any degree), robbery, criminal sexual conduct
(first, second, or third degree), or assault (first, second, or third degree).
Section 23-2403. RESTRICTIONS ON ISSUING LICENSES. A hospitality
accommodation license shall not be issued or renewed if any of the following circumstances
exist:
A. The applicant submits an incomplete license application or fails to submit the
required application fee;
B. The applicant is untruthful in any of the information provided to the City as part
of its request for a license;
C. The hospitality accommodation is not in compliance with the requirements
associated with the particular license level applicable to the hospitality
accommodation;
D. The applicant has failed to correct any violations noted in a correction order
issued as a result of safety inspection required under Section 23-2412; or
E. The hospitality accommodation property is not in compliance with any applicable
federal, state, or local law, rule, regulation, or ordinance.
Section 23-2404. LICENSING PROCESS AND RENEWAL. The level of a hospitality
accommodation license shall be determined and the licensed shall be issued in accordance with
this Section.
A. A new hospitality accommodation shall obtain a hospitality accommodation
license from the City prior to opening for business. A new hospitality
accommodation that had not previously operated within the City shall initially
qualify for a level I hospitality accommodation license. The City may charge a
reduced license fee for a new hospitality accommodation license based on the
number of months remaining in the particular licensing period.
B. The annual renewal of a hospitality accommodation license shall be in accordance
with the following timelines:
REVISED DRAFT
12-2-18
4
539005v6 TJG BR291-4
1. By February 1st the City shall notify each existing hospitality
accommodation in writing of its annual calls for service for the previous
year and the level of hospitality accommodation license for which it must
apply;
2. By April 1st each hospitality accommodation shall submit to the City a
complete application for the appropriate level of license;
3. By May 1st each hospitality accommodation must obtain the required level
of hospitality accommodation license from the City; and
4. By June 1st each hospitality accommodation shall be in full compliance
with any conditions placed on the license by the City Council, unless a
different compliance date is indicated in the license or a provisional
license is issued because of change in licensing levels.
C. The City Council shall issue a hospitality accommodation license upon
submission of a complete application, payment of applicable fees, compliance
with the applicable special requirements, compliance with any correction orders,
and proper licensing with all applicable government agencies, including the
Minnesota Department of Health.
D. If a hospitality accommodation is required, based on its annual calls for service, to
transition to a stricter licensing level, the City Council may issue a provisional
license to allow additional time for the hospitality accommodation to come into
compliance with the additional special requirements applicable to the new level.
The hospitality accommodation is required to come into full compliance with the
requirements applicable to the new license level and any additional conditions
placed on the license by the City Council by the date indicated in the provisional
license. The City shall conduct an inspection and if it determines the hospitality
accommodation has complied, the license automatically becomes a regular license
for the particular license level without further action by the City. If the hospitality
accommodation is not in compliance by the date indicated, the provisional license
shall terminate unless the City Council acts to extend it. Any such extension
approved by the City Council shall be subject to any additional conditions the
City Council may place on the license.
E. The following scale shall be used to calculate the number of points assigned to a
hospitality accommodation for the calls of service to determine t h e l e v e l o f
license the hospitality accommodation is required to obtain.
Type of Call for Service Points
Violent crime 5 Points
Part 1 crime 3 Points
Any other crime or call for service 2 Points
REVISED DRAFT
12-2-18
5
539005v6 TJG BR291-4
If an employee of the hospitality accommodation originated the call for service,
the number of points assigned to the particular call for service shall be reduced by
one point.
F. To determine the type of hospitality accommodation licenses required, the City
shall divide the annual calls for service at a hospitality accommodation, calculated
using the point system set out in paragraph E of this Section, by the total number
of lodging units in the hospitality accommodation.
G. A hospitality accommodation may be subject to a property safety inspection as
provided in Section 23-2412 and any such hospitality accommodation shall
comply with any correction orders issued as a result of the inspection.
H. Failure of a hospitality accommodation to comply with the requirements
applicable to the license level, any additional conditions issued by the City
Council, or a correction order shall constitute sufficient grounds for the
revocation, suspension, or nonrenewal of the hospitality accommodation license.
Section 23-2405. LICENSE FEE. The fee for a hospitality accommodation license shall
be as set forth by City Council resolution. The City Council may establish a separate fee for
each licensing level.
Section 23-2406. LICENSE PERIOD. All hospitality accommodation licenses shall
expire on April 30 each year and must be renewed in accordance with Section 23-2404.
Section 23-2407. TRANSFER OF LICENSES. A hospitality accommodation license
may be transferred to a new owner of a hospitality accommodation continuing to operate on the
same hospitality accommodation property for which the license was issued. The transfer shall
not affect the current license level and the calls for service that occurred prior to the transfer shall
be used in calculating the license level at renewal. Written notice of the transfer shall be
provided to the City within ten business days after the transfer. The notice shall include the
name and address of the person, firm, or corporation taking ownership or control of the
hospitality accommodation. A hospitality accommodation license shall not be transferred or
relocated to a hospitality accommodation located on a different site.
Section 23-2408. LEVEL I HOSPITALITY ACCOMMODATION. A level I hospitality
accommodation is required to meet the special requirements in this Section, which constitute the
minimum performance standards for all hospitality accommodations.
A. Have clear check-in policies that, at a minimum, require all guests reserving or
renting a room to use a credit card to guarantee the reservation or rental.
B. Provide and keep a register for the registration of all guests, and every guest must
be registered. Upon the arrival of each guest, the operator of the hospitality
accommodation must require the guest to provide the name and home address of
REVISED DRAFT
12-2-18
6
539005v6 TJG BR291-4
the guest and every person with the guest as a member of the party, and if the
guest is traveling by motor vehicle, the make of the vehicle and license plate
number, including the name of the state or country issuing the license plate. The
method of payment must be noted as part of the registration information. The
registration information must be recorded in the guest register and kept in an
accurate and orderly manner. The guest register must be retained for one year and
made available for inspection by the City upon reasonable request.
C. Work cooperatively with the City to provide training no less than annually to all
staff members directly involved in registering guests and housekeeping staff.
D. Provide the City the name, address, e-mail address, and telephone number of the
president, vice-president, secretary, and treasurer of the ownership group of the
hospitality accommodation.
E. Provide the City the name, e-mail address, and telephone number of all managers
and other responsible employees of the hospitality accommodation.
F. Require a manager or other responsible employee to be on premises of the
hospitality accommodation property at all times.
G. Inspect rooms of guests who refuse housekeeping service for three consecutive
days or who behave suspiciously in a manner staff reasonably suspect, based on
training and experience, may be engaged in unlawful activity.
Section 23-2409. LEVEL II HOSPITALITY ACCOMMODATION. A level II
hospitality accommodation is required to meet the special requirements required of a level I
hospitality accommodation and the additional special requirements in this Section, which are
designed to deter crime, in order to be eligible for a hospitality accommodation license, and shall
comply with any conditions the City Council may impose on the license.
A. Submit a management plan to the City detailing steps the hospitality
accommodation intends to take to reduce criminal activity.
B. Consult with the police department to obtain such inspection services and advice
regarding crime prevention as may be needed to address the types and calls for
service made to the hospitality accommodation property.
C. Consult with the police department to keep apprised of police activity occurring
on the hospitality accommodation property.
D. Install and operate a surveillance camera, with a recorder, in the lobby at all
times.
REVISED DRAFT
12-2-18
7
539005v6 TJG BR291-4
E. Consult with the police department to undergo a “crime prevention through
environmental design” (CPTED) inspection and incorporate the recommendations
into the hospitality accommodation property.
F. Issue parking passes to all vehicles allowed to park on the transient
accommodation property, each pass marked with an issued date and expiration
date.
G. Submit to semi-annual audits by the City to verify compliance w i t h t h e
requirements of this Section.
Section 23-2410. LEVEL III HOSPITALITY ACCOMMODATIONS. A level I I I
hospitality accommodation is required to meet the special requirements of a level II hospitality
accommodation, and including those applicable to a level I hospitality accommodation, and the
additional special requirements in this Section, which are designed to deter crime, to be eligible
for a hospitality accommodation license, and shall comply with any conditions the City Council
may impose on the license.
A. Conduct background checks on all owners, managers, and employees of the
hospitality accommodation in accordance with Section 23-2411.
B. Enforce the following guest rules:
1. Lodging units cannot be rented for less than a six-hour period;
2. Prohibit guests from producing loud noises that unreasonably disturb the
tranquility of the other guests or those adjacent to the hospitality
accommodation property; and
3. Alcohol may not be consumed in common areas except for designated
banquet or reception rooms or areas.
C. Remove all graffiti and repair all vandalism within seven days of occurrence.
D. Install lighting in all common areas with minimum maintained lighting of 1.5
foot-candles at ground level.
E. Install and continually operate video monitoring equipment in all parking lots on
the hospitality accommodation property that are monitored and recorded at the
front desk at all times.
F. Have a licensed, armed, and uniformed security guard on the premises every day
from 6:00 p.m. until 6:00 a.m.
Section 23-2411. BACKGROUND CHECKS.
REVISED DRAFT
12-2-18
8
539005v6 TJG BR291-4
A. A hospitality accommodation required to conduct background checks on its
owners, managers, and employees, such background checks must comply with
and include the following:
1. A Minnesota statewide criminal history check covering at least the last
three years, which must be conducted by a company providing criminal
history check services utilizing the most recent update of the Minnesota
criminal history files;
2. A statewide criminal history check from the person’s previous states of
residence covering the last three years if the person has not resided in
Minnesota for at least the three years preceding the history check; and
3. A criminal history check conducted in all seven counties in the Twin
Cities metropolitan area (the counties of Anoka, Carver, Dakota,
Hennepin, Ramsey, Scott, and Washington) covering at least the last three
years, including all misdemeanor, gross misdemeanor, and felony
convictions.
B. The hospitality accommodation shall retain the criminal history check information
for the duration of the person’s employment, but in no case less than two years,
and shall make the information available for inspection upon request by the City
Manager or the City Manager’s designee.
Section 23-2412. PROPERTY SAFETY INSPECTION. The City shall conduct
property safety inspections in accordance with the provisions of this Section.
A. The City shall annually conduct a property safety inspection of all level II and
level III hospitality accommodations for the purpose of enforcing the property
maintenance code and the standards in this Section. The property safety
inspection is required prior to the issuance of a level II or level III hospitality
accommodation licenses. The City may at all reasonable times enter and inspect
all lodging units, common areas, and operational areas of the hospitality
accommodation. Except when otherwise authorized by law or in an emergency,
the City shall not inspect an occupied lodging unit without the consent of the
occupant.
B. Property safety inspections shall include the following:
1. At least 15% of all lodging units in the hospitality accommodation shall be
inspected. The City shall determine which lodging units to inspect and
shall rotate the lodging units inspected to ensure all lodging units will be
inspected periodically;
2. All common areas and operational areas of a hospitality accommodation
shall be inspected as part of each property safety inspection; and
REVISED DRAFT
12-2-18
9
539005v6 TJG BR291-4
3. The inspection shall be based on a hospitality accommodation inspection
checklist and the City shall inspect each item on the list during each
inspection.
C. Any violations found during the property safety inspection shall be corrected in
the timeframe established in the correction order issued by the City. The City
shall conduct a reinspection of the hospitality accommodation to confirm
compliance with the correction order. Failure to correct any of the violations
noted in a correction order within the established timeframe may result in the
suspension, revocation, or nonrenewal of the hospitality accommodation license
as provided in Section 23-2413.
Section 23-2413. REVOCATION AND SUSPENSION OF LICENSE. A hospitality
accommodation license may be revoked, suspended, or not renewed by the City Council, upon
recommendation of the City Manager, in accordance with this Section.
A. The City Council may revoke, suspend, or not renew a hospitality accommodation
license upon any of the following grounds:
1. A false statement, misrepresentation, or fraudulent statement on any
application or other information or report required by these Sections 23-
2400 through 23-2415;
2. Failure to pay the application fee, fine, penalty, reinstatement fee, special
assessment, real estate taxes, or other financial claim due to the City under
this Code;
3. Failure to comply with any of the special requirements applicable to the
level of license held by the hospitality accommodation;
4. Failure to comply with any of the conditions placed on the license by the
City Council;
5. Failure to comply with any part of a correction order resulting from a
property safety inspection within the timeframe indicated in the order;
6. Failure to continuously comply with any zoning, health, building,
nuisance, or other Code requirements;
7. Failure to obtain or maintain any licenses required for the hospitality
accommodation; or
8. Failure to comply with any other applicable federal, state, or local law,
rule, regulation, or ordinance.
REVISED DRAFT
12-2-18
10
539005v6 TJG BR291-4
B. A decision to revoke, suspend, or not renew a hospitality accommodation license
shall be preceded by written notice to the applicant or licensee of the alleged
grounds therefor and the applicant or licensee will be given an opportunity to
request a hearing before the City Council before final action is taken to revoke,
suspend, or not renew the license. An applicant or licensee waives its right to a
hearing if it fails to submit a written request for a hearing to the City within ten
days of the issuance of the written notice. If a timely request for a hearing is
received, the City Council shall conduct a hearing at the next regularly scheduled
City Council meeting and provide the applicant or licensee an opportunity to be
heard.
C. The written decision to revoke, suspend, or not renew a hospitality
accommodation license shall identify the specific grounds for the decision. Upon
issuance of the written decision, no lodging unit within the hospitality
accommodation may be offered or used for any period of time by guests until a
new hospitality accommodation licenses is issued in accordance with Section 23-
2414.
Section 23-2414. REAPPLICATION AFTER LICENSE ACTION. Reapplication for a
hospitality accommodation license after the City Council has revoked, suspended, or not
renewed a license shall be in accordance with this Section.
A. A hospitality accommodation license may be suspended for up to ninety (90) days
and may, after the period of suspension, be reinstated subject to compliance with
these Sections 23-2400 through 23-2415 and any conditions imposed by the City
Council at the time of suspension.
B. A hospitality accommodation license revoked or not renewed by the City Council
will not be reinstated or issued until the owner has applied for and secured a new
hospitality accommodation license and complied with all conditions imposed at
the time of revocation or nonrenewal. The City Council may impose a period
following the revocation or nonrenewal of the owner’s previous license during
which a new hospitality accommodation license may not be submitte d . A
decision not to renew a hospitality accommodation license may take the form of a
suspension or revocation.
C. An application for a new hospitality accommodation license following the
revocation, suspension, or nonrenewal of the license must be accompanied by a
reinstatement fee, as specified by City Council resolution, in addition to all other
application and related fees.
D. The conditions of approval of any subsequent application for a license to operate
a hospitality accommodation on the same property following a period of
revocation or denial of renewal of a hospitality accommodation license shall be
REVISED DRAFT
12-2-18
11
539005v6 TJG BR291-4
based upon the hospitality accommodation property's history of annual calls for
service prior to the revocation or non-renewal.
E. No subsequent application for a hospitality accommodation license on the same
property following a period of revocation or nonrenewal shall be approved unless
the applicant presents a corrective action plan that is approved by the City to help
ensure the conditions and causes of the prior revocation or nonrenewal are
appropriately addressed. Implementation of, and compliance with, the corrective
action plan shall be a condition of the license.
Section 23-2415. VIOLATIONS.
A. Any person, firm, or corporation who violates any provision of these Sections 23-
2400 through 23-2415 is, upon conviction, guilty of a misdemeanor. The penalty
that may be imposed for a misdemeanor is a sentence of not more than 90 days or
a fine of not more than $1,000, or both. Each day upon which a violation of these
Sections 23-2400 through 23-2415 occurs constitutes a separate offense.
B. In lieu of issuing a criminal citation, the City may issue an administrative citation
and impose a civil penalty on any person, firm, or corporation who violates any
provision of these Sections 23-2400 through 23-2415.
C. Any person required to register at a hospitality accommodation who intentionally
presents false identification, provides a false or assumed name, or otherwise
provides false guest register information is guilty of a misdemeanor.
D. Nothing in this Section shall be construed as a waiver of any applicable state
license requirements or from compliance with all applicable civil and criminal
laws.
Article II.Brooklyn Center City Code, Chapter 23, Section 23-006.05 is hereby amended by
deleting the stricken material and adding the double underlined material as follows:
Section 23-006.05. PAYMENT OF PROPERTY TAXES REQUIRED. No license shall
be granted or renewed for tobacco related products; bowling alleys; public dancing; filling
stations; pawnbrokers; secondhand goods dealers; motor vehicle dealerships; saunas and sauna
baths; massage parlors; rap parlors, conversation parlors, adult encounter groups, adult
sensitivity groups, escort services, model services, dancing services, or hostess services; transient
hospitality accommodations; or amusement devices for operation on any property on which
taxes, assessments, or other financial claims of the state, county, school district, or city are due,
delinquent, or unpaid. In the event a suit has been commenced under Minnesota Statutes,
Section 278.01 through 278.03, questioning the amount or validity of taxes, the City Council
may on application waive strict compliance with this provision; no waiver may be granted,
however, for taxes or any portion thereof which remain unpaid for a period exceeding one (1)
year after becoming due.
REVISED DRAFT
12-2-18
12
539005v6 TJG BR291-4
Article III.Effective Date. This ordinance shall become effective after adoption and upon
thirty days following its legal publication.
Adopted this ___ day of __________, 2018.
_______________________________
Tim Willson, Mayor
ATTEST: _________________________
City Clerk
Date of Publication
Effective Date
!"# $
% &''('#
$)
!"#
* & ($ ( +#)+ () ($' (
,$'
!"
- ''' #" .
+
$" !-(
' #"$' " ))(/"
+
'0 +#"$'-#'(+
$"('))"
$" /))(/"
+
'(!$'-++!/- -+
"#"$'
(+' "))'0+'
#"$'+!/('((('''#$)$#/" '"(+$)-))(/"
'+
#'!)1'))(/"+
'(+#$)2'+'0
'(+('$
''
$"($(')) +"("("-'
'+ )#"'
"(+$$#$)*$
3
$+'0*$+ +$
'+!'
$ (-+($
-+$+ -
"( +! /( "("(' ) ('$ /'( -++ +( !
$+' 0
#"''##"+($'0*))-""$
+#$''(-""/+ /$
$"'+
"(++$
())( 0
+ - ' '' * ) ) - ' " '( $ ( / / $ + ,$ ($ ) )
+
$'(/
$"0
+4! /5
$"6 ''''))#'(((") /
,$ ($$"
(())($-+$+-' ("()' "($'(#(
/ *0 7
' , $+)"( ( " 0 + ')) - ($( / +
,$ ($+
' '')!-($ (0
+
' '' !-( + ($ + 4! /
' ''
0 +
' ''
'"#''( $ (##!")+
,$ ($0+
' ''(( +)""-$ (($+'-+$++!
/)"$(+
#((($0
0 8$'+$ 9
:( !+
:)
'9
0+)
9
#$)
+9
")'/'($ 0
0 *$;.000
0 +"
9
$) ()$'"'-""/
(-+5 (')+. ;(#$#(('0+#!
'"
9
(
)$")+"("((( ()$'+"'+()""-+()+
. ;(#$#(0
50 *$5<0 ")$+- +'+#$#(-
"(/-+5 +'
"'
.('0
=0 ;.000(>
'-()("!+$+ ""-((" 0%
1 #")+"("(+(("!'+$'+$'""#!(+$+ /
"0
# $
'+!"
)"##+'$'('+'!' '0'##'$++(''
$ )--' $#" #! '($''$+'$$"
+'#$')+"' +)$1''
)+/
"(0+#
#')+
,$($')?+ ')+1'"'). (#() ""-'
"$'+
"(+(0
+($9
'--)
""$$
))(/"+
'###"$
/)'')+--$'''$'1''(''
"'"$
) +## #" ';-"'-+
$
'-+5 +')+#
$+' ""
$+'+ ')+"''
"+"$) +##0+($+'+))$
))?"' '). (')+'")##0+#
#''""-'+@5A +'
"$)$''0
+' ($ -
"(B ) -+ + '" )
"" $$
))(/" +
' +-!C -
"(
#!("$'''$+')$''0+($-
"(9
-/
')'
-+5 (')'
/'!$+'+"')+$ !' "$)$''0
+ ($ ()' D
'D ' + !" #!' ) + 2' " +
' #!''
# ) "$
'('
$)##('
/+#$0+' '+-"("(
-
"(//";-"'1$#)+'''(
+#$#(0"("(
-
"('""//"!$+
++#$"""#$''0
+($"'
'#$)$)$#$''+$"
('/+)$)+'(+
-+--'+#)+##$$
'0
%
'#$)+($+'))$
'+!$$'/
"'+)$ )
'
'-+)"'+-("$/)'/
+"("()"'+(04)+
+$'++!(#(' "($'+!("-++'''
($"-++($06+"
+ $9
($
) +"("(+++! +)$9
'+
')('#
''+ '#' (+('#
08+'
+ ()
-+)"'++($+'/!"(-
"(/+
++$
'0 "("($
$/$'"(
'#$''+' $+'#
'
0
+ 2'))$+'#!(() "-+$' +''
(+'#'-'++'$"#++-
"(+!/'
'+"("('
/'(+""(($!"'0+ /##
)"-'
/)"(0-!+
'$"""#++'#)$/$
'-
"(/-+$
'' 0
+#
#')+($'+"("' ). ('
#'")##--
""-' )(-+
''+
"(+(04--'""" "+(-""' #"-+.
(' +"'"' '++( ("$/)'-""!(
/#('+''
))$ -""" ""$
#0-!+ -
"(/(#'
((''''
'+!)('#
/-+"("(((+($)+-
$
#0
&'
( )
*))+!#!((+()($ ")!-0+##$+ " +'
#" (+$+' "$ ((0-!+'
'(++ "'$'(
((< ;((!$$)##'('"0 "'
''*
+,
+*
*))!-(+(!$$)'"#"$-++
$"+#"- '''(1#''(
$$')+#"$+ 0*))2'# $$'+ )+) "(+
$)'"+-' (-+'('/
((+ 2'"/"('08((+
(!$($)'"#"$
'+' ))-++'")##("("('+!
1#''('$$!'
(($'9
$')('"'(
(
"$'+$'
)$9
''0
8'#'+,$ ($'))$+(
'!""("('+$
'
+ #!(#
+##'(($0 ""+'" (1#''(!""$$
/
+($('#''/"
(($'9
$'/
$ -"((+-'" " /"0
$''($"
((
7("('-+$-""$''#
'++##'
'(+#
!-)+($0
+($-""$'$9
'$''/(((("$$''+)'. ('
-+$+ (''
(/
'0
+($(('$'')/
'$ #"+(
("$##(/$
'+
($'-(('
$-++$ #"$#$(
'0
7("('(+++
' '$$"$"(+
++'))(/"+
'''
+
-++!$$-
"(!
""'/"?/$
#'+('#"$ ())(/"
-
"("-'/'
$+"$$0
7("('$ (+ " 2'+
' -'
9
+-+"+'($
-
"())$ '"##'/$
')+"
)))(/""
'+
('#"$ -''")''
+''$
'-++!)-))(/"
"
'('+($ /'$''0
- .&
8)+
$"##!'+)'()+($-""+
$")'$((
(#
/"$+&
=+ .0
+-""/')) "+)$ )+($0-!'$
"$#(
++(("- "(-""'
"(("'))0
%
+'"
-""//
+)-(+ )+#
/"$+"+"$$''
''$(-++'($0
!
'($ $*/"
!" #
$%&
'# (#
) *** "! +
,
#! )( * "!#* ! --(.!
,*/ ,"!#*)"*(,
#!(*--!
#! .--(.!
,*( #*),, .) ), !"!#*(,* !--*/,*
"!#*, .(*(((***"#-#".! *!(,#-)--(.!*,
"* -0*--(.!,*(,"#-1*,*/
*(,(*#**
#!(#(*-- ,!(!(!)**,
-"!*
!(,##"#-$# 2#,*/$#, ,#*, *# (),(#
),#, )!( , .( !(!(* - (*# .*( ),, ,( #,* /
"!**""!,(#*/$--)!!# ,"#**()!!., .#
#!*,!(,,# (--( /
, ) *** $-- )* !* (#( . .# , '# (# - -,
#*(.
#!/,""*-,*(*#***"(
#!,*#,,,*.(
,*"#*#,(* (#-
#!,)"#(/
*'# (#3'#45,*)!(6))-!!
##--(.!,*"""!#.-**-,))#**
*#*0**(* "! *7)!*),#*), ,*-,"#,*/,
(#,*,--#--8!* *-+
(*-,*!-""/,""**!!)
*,34 ,*!#-#**/
,* (# )!(9 - ), , *! - !! ##--(.!,*,) :
)!(" (***#,*-#**/
,(#)!(6).*-*),
(*-*.* #,*,
!*-,# * !#-#**/
,"!##!((**("!" .*- . !
), "
"#,*""#),,*"!#/
,*(#)!(, --#(,*,##(,!)#***(
; -#!*,*"")* #(",*!-,""/
$/;*' ! #,-!((<!(2!!, ("(* !(#*/
"!**,"#**-"" * !(#/
! *#*( ( *,"#(#!(-# /
-,#*),, ("(,*(#, ,( -# # *
!(!(- !,*(#/
(-(#""(.,
*#,(- )(#*(/$/;*'
!!(-(,(#"*,"),* !-,!(!(**)!!*--(.!,*
( #*/=)*.(!*""(/,(-** !,-$/;*' 1*( #,-!(1*),*
(-#*/
,"#6 *)!(.(,!!#*""!#"#**(
(# )!((." (((-""# ,)!#*/
*#*,"-7)!*,###(,"#"(/
*#* !#,*, *-,!*" ,!(!(- #,(*,"
,(,"#"(/
,(#)!("!!((#* *.("#,*" .!(
,
/"(,*-,)., ,,!(#,*!* *
#!(--#,--"#,*/0*!(!(*$/;*' (#(,,*)*-
##*!*,).)*)!!)-,6 *,)!(..!.!(,
"- /
*"#-,(#,*--#*, ##*.!*,-# -
**),-!*,)(!#.-*.,!(!(-!*,(/>-,
,#*,, ("(* !(#*, (!),,***(#!),,(#/?,!
,
#6(# - ,!(!(,,, ,-#6 *,
*-(*"**,
*"* (,(*"/=,*, (-
),-!*,,(#,*. !()!(.,,,#*/ !(!(#
#.#*!(*"#**,*! !"*/
,""*-,(#***!!,!(!* -+
(*"*!-""
))!!)* -(),**,!(,(/>))*!!! !,()!!
* "!),+
(* ,!*!* *,,( (!#
.-*)!! (."(*,**--# )!!! !!# "/@) ,
)!(.("*((*****, -(*".),!(!((
(,(#-,)# "/
!" ## #
*,
#!6((!- ("#.-##!(--,
"!##*#**A
,# ((#,*,(-(#,*,!(.#*((A
,#(-(#)!(""! !- !""*),!*
B-,*
--(.!C
B-, (# 3=4/@ !# ((,
#*(
(,(-(#*,)!(""! !7- !""*),!*
--(.!,*,!(*
B=/
?!(,
#!),@*
** ),(#(
# (.-,
#! *#A
# $! #
*(# #$.!
MEMORANDUM – COUNCIL WORK SESSION
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its
convenient location and commitment to a healthy environment
DATE: April 9, 2018
TO: Curt Boganey, City Manager
FROM: Jesse Anderson, Deputy Director of Community Development
THROUGH: Meg Beekman, Community Development Director
SUBJECT: Affordable Housing Policy
Recommendation:
It is recommended that the City Council consider providing direction to staff regarding potential
affordable housing policies for the City.
Background:
In May of 2017, the City Council received copies of emails forwarded by Councilmember Butler
from African Career and Education Resource Inc. (ACER) requesting an opportunity to come
before the City Council to discuss concerns about the need for affordable housing in Brooklyn
Center. In addition Mayor Willson was in contact with a representative of Community Action
Partnership of Hennepin County (CAPHC) regarding the same topic.
On July 10, 2017, by consensus the City Council directed staff to invite representatives from
ACER and CAPHC to a future work session to present information and have a dialogue on the
issue of affordable housing.
On August 14, 2017, the City Council received a presentation from ACER and CAPHC
regarding the topic of affordable housing. At the presentation ACER and CAPHC advocated that
the City consider adopting policies that would address the region’s need for affordable housing,
protect tenants, and help preserve naturally occurring affordable housing. The Council directed
staff to bring the subject back to a future work session for discussion.
Regional Housing Trends:
The Twin Cities Metropolitan Area is currently experience record low vacancy rates. According
to Marquette Advisors’ midyear report in August 2017, the average vacancy rate across the Twin
Cities metro was 2.4 percent. Experts agree that a balanced rental market will typically see an
average vacancy rate of around 5 percent.
The impact of low vacancy rates over time has increased rents, a growing interest from outside
investors, and landlords in a position to be choosier about who they rent to. This has borne out
throughout the Twin Cities Metropolitan Area as rents have gone up throughout the region. The
average rent at the end of July 2017 had increased 3.1-pecent year over year. In addition, the
Metropolitan Council is seeing a reduction in the number of landlords accepting Section 8
MEMORANDUM – COUNCIL WORK SESSION
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its
convenient location and commitment to a healthy environment
vouchers. According to the Metropolitan Council, landlords are citing the increased interest for
their units from non-voucher holders as the primary reason for the change.
Yet another impact of the increasing value of rental property is the growing number of investors
purchasing Class B or Class C rental properties, which are renting for naturally affordable rents,
making cosmetic improvements, and increasing rents so that the units are no longer affordable.
According to the Minnesota Housing Partnership, the sales of apartment buildings in the metro
area jumped 165 percent between 2010 and 2015. Often the change in ownership will also come
with a change in policy related to criminal history, acceptance of Section 8 vouchers, or
minimum income requirements, resulting in existing tenants being displaced from the property.
The region is also seeing a loss of smaller-sized rental properties (1-4-units). This is due, in part
to single family properties converting back into owner-occupied as the market recovers from the
recession, but also a growing number of local investors purchasing smaller properties and
flipping them. While some of the proposed policies would impact single family rentals, the
primary focus of affordable housing advocates and media attention has been on larger properties
(40-units or greater).
Affordable housing advocates have identified potential policies designed to address these issues.
The policies fall into one of three categories; 1) preservation policies designed to preserve
naturally occurring affordable housing and prevent it from being flipped; 2) tenant protection
policies designed to prevent or mitigate displacement; and 3) creation policies designed to create
new, legally-binding, affordable housing that will replace the naturally occurring affordable
housing that is being lost.
Brooklyn Center’s Current Rental Housing:
According to the Metropolitan Council, the following table indicates what is considered
affordable rents in the Twin Cities Metropolitan Area:
# of Bedrooms 30% AMI 50% AMI 60% AMI 80% AMI
Efficiency $474 $791 $949 $1,265
1-Bedroom $508 $848 $1,017 $1,356
2-Bedroom $610 $1,017 $1,220 $1,627
3-Bedroom $705 $1,175 $1,410 $1,880
4-Bedroom $786 $1,311 $1,573 $2,097
*Rents include tenant-paid utilities
According to the Metropolitan Council, the following table indicates average rents in Brooklyn
Center:
# of Bedrooms Survey 5-Year Avg
Efficiency $730 $744
1-Bedroom $869 $801
2-Bedroom $1,019 $925
3+ Bedroom $1,281 $1,147
MEMORANDUM – COUNCIL WORK SESSION
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its
convenient location and commitment to a healthy environment
Brooklyn Center currently has 834 rental license holders. 713 of those are for single family
homes. 71 of the licenses are for 2-4-unit properties. 24 are for properties with between 5 and 39
units. 27 licenses are for properties with greater than 40 units. There are approximately 4,300
rental units in the City. The average rents in Brooklyn Center are considered affordable for those
making around 50 percent of the Area Median Income. Of the 11,608 total housing units (both
rental and owner-occupied) in Brooklyn Center, 89.5 percent are naturally occurring affordable
housing. There are currently 402 Section 8 voucher holders in the City.
Brooklyn Center currently has five apartment building that are legally-binding affordable
housing, Ewing Square Townhomes (23-units), The Crest Apartments (69-units), Unity Place
(112-units), Emerson Chalet Apartments (18-units), and The Sanctuary (158-units). Also,
Lynwood Apartment (50-units) is currently applying for Certified Low Income Status, which
would make it a legally-binding affordable property. This equates to 3.7 percent of the City’s
housing stock is legally-binding affordable housing.
Anecdotally, a recent phone survey of 34 Brooklyn Center landlords found a current average
vacancy rate of 1.3 percent.
Rents in Brooklyn Center are currently very affordable compared to the region. Low rents may
be contributing to the low vacancy rates. If the vacancy rates are in fact below 2 percent, and
they remain that low over time, it would be reasonable to expect rents to increase. However,
given the current low rents, even an increase in rents of 20-30 percent would result in rents still
considered affordable for those making 60-80% AMI.
Affordable Policy Options:
Section 8 Ordinance (Tenant Protection) - Prohibiting discrimination against Section 8 voucher
holders and other recipients of government programs. The policy would prohibit landlords from
denying any tenants’ application based on the applicant receiving government assistance.
x Staff surveyed 34 Brooklyn Center apartments and found that 50 percent indicated that
they do not accept section 8 vouchers.
x Minneapolis recently adopted this ordinance, which allows applicants who feel they have
been discriminated against to seek damages through the city’s department of Civil Rights.
x The City of Minneapolis has an active lawsuit filed against them by 55 apartment owners
over the legality of this ordinance. The lawsuit argues the mandate conflicts with state law
and unfairly forces them to comply with requirements of federal housing voucher programs
for low-income residents. It also says the law violates the Minnesota Constitution because it
reduces their property values, forces landlords to enter into contracts and represents an
unnecessary government intervention in their businesses. Landlords also claim that this could
cause landlords to increase rent and/or application criteria as to price out Section 8
vouchers.
¾ Staff feels that if the ordinance is upheld by the courts, it could be a useful tool to ensure
residents are not discriminated against based on their source of income; however
additional review would be necessary related to the enforcement of the ordinance. Staff
MEMORANDUM – COUNCIL WORK SESSION
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its
convenient location and commitment to a healthy environment
recommends that the City monitor the Minneapolis lawsuit then review pending the
outcome.
Notice of Intent to Sell (Preservation) – Rental property owners must give advanced notice prior
to the sale of a rental property. This gives a preservation buyer an opportunity to match the
purchase price. It would also give service providers additional time to relocate residents who
would be displaced as a result of the sale.
x Landlords would be concerned about delaying the closing of a property sale, which could
have a negative effect on price. Preservation companies such as Aeon have expressed
concerns that this could increase the competition for these properties, and thusly increase
sales prices.
x Enforcement would be difficult because the penalty would come after the sale has
occurred. If the property has sold, the seller no longer has ties to the property so
enforcing a citation could be challenging and may not be a deterrent. In a workgroup in
St. Louis Park landlords stated that if there was a $1000.00 citation for selling without
notice, they would likely still sell the property and pay the citation.
x It is unclear who the seller would need to notify of their intent to sell and what would be
done with that information once it was known. Who would decide what buyers could
have access to the information? Who would be responsible for disseminating the
information?
x It is possible that this ordinance would dissuade investors, who may opt to purchase
property in cities that do not have the additional requirements.
x St. Louis Park is looking at an alternative ordinance related to tenant transition/protection
would address the need for additional time to relocate tenants.
¾ Staff recommends that the city consider other options such as the tenant transition
ordinance.
Tenant Transition/Protection Ordinance (Tenant Protection) – This would require a new owner
of a naturally occurring affordable housing property to pay relocation benefits to tenants if the
new owner increases rent, rescreens existing residents or implements non-renewals without cause
within 3 months after the purchase. The ordinance has the effect of freezing lease terms for 90
days after the sale of a property. The purpose is to allow tenants three (3) months to relocate if
necessary.
x This ordinance wouldn’t interfere with the sale of naturally occurring affordable housing,
however; it would provide assistance to the tenants if necessary.
x The ordinance would require new buyers to notify tenants within 30 days if substantive
changes to the lease are forthcoming, giving tenants time to relocate if necessary.
x St. Louis Park adopted the Tenant Protection Ordinance in March of 2018.
x The policy could dissuade potential apartment buyers from buying in Brooklyn Center,
who may opt to purchase a property in a city without this policy.
¾ Staff recommends that the City review this policy further to determine the legality of it,
the enforcement mechanism, and what the specific impacts in Brooklyn Center might be.
MEMORANDUM – COUNCIL WORK SESSION
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its
convenient location and commitment to a healthy environment
Just-Cause Eviction (Tenant Protection) – Also known as Just-Cause Non-Renewal, this would
require a landlord to provide a reason if they were going to not renew a tenant’s lease that was
expiring. Currently landlords must provide a just cause for eviction, which a tenant can appeal in
court. There is no appeal process available to tenants who lose their housing due to non-renewal
of lease.
x Landlords see this as taking away a valuable management tool for dealing with problem
tenants and have the unintended consequence of increasing the number of evictions filed
and strengthening screening standards.
x When St. Louis Park conducted their meetings with landlords and t h e M u l t i - f a m i l y
Housing Association, this ordinance received the strongest opposition.
x The enforcement of this policy would be through the court system and would require a
tenant to take legal action against their landlord via a lawsuit.
x Of the 34 landlords surveyed by staff, the majority of evictions or non-renewals are the
result of non-payment of rent or criminal activity.
x The intent of this ordinance would be to protect tenants from being non-renewed in the
event a new owner wants to empty a building in order to do a substantial renovation with
the goal of increasing rents.
¾ Staff recommends that the City consider other options such as the tenant transition
ordinance to protect tenants.
Inclusionary Housing Policy (Creation) – These are a collection of policies that could be adopted
by the city which would either encourage or require new affordable units to be included as part
of new market-rate residential development projects which receive public subsidy or other
discretionary City approvals. Frequently it is in the form of a requirement that a percentage of
units be affordable in a new residential development in exchange for public subsidy of the
project.
x New developments such as the Opportunity Site would be required to include a certain
number of affordable units.
x Inclusionary Housing policies ensure that new affordable units are added as market-rate
units are built, thus ensuring mixed-income communities.
x Cities such as St. Louis Park and Minneapolis have found that in higher rent
developments, a certain percentage of affordable units can be required without increasing
the need for additional public subsidy. This is due to the higher than average market
rents, which off-set the affordable units. In Brooklyn Center, as is true in communities
with lower average rents, it is likely that the cost of the affordable units would require
additional public subsidies in order for a project to be financially feasible.
¾ If the Council would like to move forward with this police staff would recommend
reviewing the feasibility of future development if an affordable housing policy is
adopted.
4D Tax Breaks (Preservation) – Also known as the Low Income Rental Classification Program
(LIRC), Minnesota provides a property tax break, currently amounting to 40%, to subsidized
rental properties under LIRC, commonly referred to as the 4D program. There is the potential,
MEMORANDUM – COUNCIL WORK SESSION
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its
convenient location and commitment to a healthy environment
however, to extend 4D eligibility to certain currently unsubsidized affordable properties, without
changing current law. This is because the LIRC/4D statute defines eligible properties as those
which meet two conditions: the owner of the property agrees to rent and income restrictions
(serving households at 60% AMI or below) and receives “financial assistance” from federal,
state or local government. This presents the possibility of creating a “Local 4D” program in
which qualifying properties receive the 4D tax break in return for agreeing to conditions which
meet certain local government policy goals.
x A government agency would need to provide a financial contribution to a rental
apartment with a low income agreement placed on the property. The property could then
be eligible to apply for 4D status. This would allow a landlord to make physical
improvements to the property in exchange for affordable rents.
x The reduction in property taxes would not decrease the City’s revenue from property
taxes, as the funds would be distributed to all other properties; however, it would reduce
that property’s share of local property taxes.
x The amount of the tax break is a limiting factor as it equates to around $80/unit per year;
however, the program may be an incentive for a property owner in a community where
the market rents are already considered affordable, since they would not need to depress
their rent rates.
x Hennepin County is looking into a rehabilitation program for rental properties which
would function similarly to the CDBG housing rehabilitation program, but be County
funded.
x The City could also look at funding a program for rental housing rehabilitation.
¾ Staff recommends working with the County to determine the feasibility of a County-led
program. The City could also review EDA or TIF 3 Housing funds to determine the
availability of funds for a city program that would provide rental housing rehab
assistance in exchange for a 5-10 year affordability requirement. This could be set up as a
per unit matching forgivable loan.
Other Policies/Programs
x Identify buildings that are at-risk of being flipped. Reach out to owners of at-risk
buildings and gauge their short and long-term plans. Help connect them with preservation
buyers on a case-by-case basis.
x Comprehensive Plan – the City is in the process of updating its Comprehensive Plan. If
the preservation and/or creation of affordable housing are a priority for the City, it should
be reflected in the City’s Comprehensive Plan.
x Education – Work with the Metropolitan Council to provide education on Section 8
voucher programs to dispel some of the negative perceptions of the program.
Policy Issues:
Does the Council believe that the information presented indicates a need for additional policy
actions to address the concerns raised regarding affordable housing and the protection of tenant
rights?
MEMORANDUM – COUNCIL WORK SESSION
Our Vision: We envision Brooklyn Center as a thriving, diverse community with a full range of housing, business, cultural and
recreational offerings. It is a safe and inclusive place that people of all ages love to call home, and visitors enjoy due to its
convenient location and commitment to a healthy environment
Does the Council require additional information regarding these issues before concluding if
further policy actions are necessary?
Which policies if any would the Council want brought back for further consideration?
Which policy does the council consider a higher priority?
Strategic Priorities:
x Resident Economic Stability
Attachments:
US Census Bureau Data
Metropolitan Council Land use Chart
August 14, 2017 Council Work Session Memo
August 14, 2017 Council Work Session Minutes
Housing Strategies Table Presented at Previous Work-Session
Mixed-Income Housing Policies among Neighboring Cities Table
Phone Survey of Brooklyn Center Apartments
Phone Survey of Brooklyn Center Single Family Property Management Companies:
US Census Bureau Data:
Metropolitan Council Land Use Chart:
gg
g
g
y/
P
r
o
g
r
a
m
T
y
p
e
Af
f
o
r
d
a
b
i
l
i
t
y
R
e
q
u
i
r
e
m
e
n
t
s
Af
f
o
r
d
a
b
i
l
i
t
y
Pe
r
i
o
d
Op
t
-
ou
t
(
a
l
t
e
r
n
a
t
i
v
e
)
o
p
t
i
o
n
s
En
f
o
r
c
e
m
e
n
t
T
o
o
l
O
nc
i
a
l
a
s
s
i
s
t
a
n
c
e
f
o
r
ve
l
o
p
m
e
n
t
s
c
r
e
a
t
i
n
g
10
m
u
l
t
i
-
fa
m
i
l
y
u
n
i
t
s
at
i
o
n
o
f
a
n
e
x
i
s
t
i
n
g
mi
l
y
d
e
v
e
l
o
p
m
e
n
t
ea
s
t
1
0
u
n
i
t
s
.
x
1
8
%
o
f
t
o
t
a
l
u
n
i
t
s
i
n
t
h
e
de
v
e
l
o
p
m
e
n
t
r
e
q
u
i
r
e
d
a
t
6
0
%
AM
I
o
r
1
0
%
o
f
u
n
i
t
s
r
e
q
u
i
r
e
d
af
f
o
r
d
a
b
l
e
a
t
5
0
%
A
M
I
.
x
Fa
m
i
l
i
e
s
m
a
y
r
e
m
a
i
n
i
n
t
h
e
dw
e
l
l
i
n
g
u
n
i
t
a
s
l
o
n
g
a
s
t
h
e
in
c
o
m
e
d
o
e
s
n
o
t
e
x
c
e
e
d
1
2
0
%
AM
I
.
x
2
5
y
e
a
r
mi
n
i
m
u
m
(c
o
n
s
i
d
e
r
i
n
g
an
i
n
c
r
e
a
s
e
)
.
x
S
u
b
j
e
c
t
t
o
C
i
t
y
C
o
u
n
c
i
l
ap
p
r
o
v
a
l
:
o De
d
i
c
a
t
i
o
n
o
f
e
x
i
s
t
i
n
g
u
n
i
t
s
o O
f
f
s
i
t
e
c
o
n
s
t
r
u
c
t
i
o
n
n
e
a
r
pu
b
l
i
c
t
r
a
n
s
i
t
o Pa
r
t
i
c
i
p
a
t
i
o
n
i
n
c
o
n
s
t
r
u
c
t
i
o
n
of
a
f
f
o
r
d
a
b
l
e
u
n
i
t
s
b
y
a
n
o
t
h
e
r
de
v
e
l
o
p
e
r
w
i
t
h
i
n
t
h
e
C
i
t
y
x
A
f
f
o
r
d
a
b
l
e
H
o
u
s
i
n
g
Pe
r
f
o
r
m
a
n
c
e
A
g
r
e
e
m
e
n
t
be
t
w
e
e
n
C
i
t
y
a
n
d
De
v
e
l
o
p
e
r
p
r
i
o
r
t
o
Z
o
n
i
n
g
Co
m
p
l
i
a
n
c
e
P
e
r
m
i
t
b
e
i
n
g
is
s
u
e
d
.
x
I
m
p
l
e
m
e
n
t
e
de
v
e
l
o
p
m
e
1,
0
7
3
u
n
i
t
s
pr
o
d
u
c
e
d
.
x
N
o
d
e
v
e
l
o
p
op
t
i
o
n
.
x
U
n
i
t
s
m
u
s
t
de
v
e
l
o
p
m
e
th
r
o
u
g
h
o
u
t
ap
p
r
o
v
e
d
b
ng
o
r
C
o
m
p
r
e
h
e
n
s
i
v
e
me
n
d
m
e
n
t
f
o
r
a
l
l
n
e
w
mi
l
y
d
e
v
e
l
o
p
m
e
n
t
o
f
or
e
u
n
i
t
s
.
x
1
0
%
o
f
a
l
l
r
e
n
t
a
b
l
e
a
r
e
a
a
t
50
%
A
M
I
o
r
2
0
%
o
f
a
l
l
r
e
n
t
a
b
l
e
ar
e
a
a
t
6
0
%
A
M
I
.
x
1
5
y
e
a
r
mi
n
i
m
u
m
.
x
D
e
d
i
c
a
t
i
o
n
o
f
e
x
i
s
t
i
n
g
u
n
i
t
s
eq
u
a
l
t
o
1
1
0
%
,
m
u
s
t
b
e
eq
u
i
v
a
l
e
n
t
q
u
a
l
i
t
y
.
x
Ne
w
c
o
n
s
t
r
u
c
t
i
o
n
a
t
a
d
i
f
f
e
r
e
n
t
si
t
e
.
x
Pa
r
t
i
c
i
p
a
t
i
o
n
i
n
c
o
n
s
t
r
u
c
t
i
o
n
o
f
af
f
o
r
d
a
b
l
e
u
n
i
t
s
b
y
a
n
o
t
h
e
r
de
v
e
l
o
p
e
r
w
i
t
h
i
n
t
h
e
C
i
t
y
.
x
L
a
n
d
u
s
e
r
e
s
t
r
i
c
t
i
v
e
co
v
e
n
a
n
t
.
x
PU
D
o
r
d
i
n
a
n
c
e
s
t
a
t
e
s
de
v
e
l
o
p
m
e
n
t
m
u
s
t
co
n
s
i
d
e
r
a
f
f
o
r
d
a
b
i
l
i
t
y
.
x
C
i
t
y
w
i
l
l
c
o
n
de
v
e
l
o
p
m
e
ho
u
s
i
n
g
i
n
c
pa
r
k
i
n
g
r
e
d
in
t
e
r
e
s
t
l
o
a
Fo
u
n
d
a
t
i
o
n
ra
t
e
r
e
s
i
d
e
n
t
i
a
l
me
n
t
w
i
t
h
1
0
o
r
m
o
r
e
d
r
e
c
e
i
v
e
:
na
l
U
s
e
P
e
r
m
i
t
(
o
r
d
.
)
Un
i
t
D
e
v
e
l
o
p
m
e
n
t
Ma
p
A
m
e
n
d
m
e
n
t
he
n
s
i
v
e
P
l
a
n
me
n
t
nc
i
a
l
A
s
s
i
s
t
a
n
c
e
x
1
5
%
o
f
t
o
t
a
l
p
r
o
j
e
c
t
u
n
i
t
s
a
t
60
%
A
M
I
o
r
1
0
%
o
f
p
r
o
j
e
c
t
un
i
t
s
a
t
5
0
%
A
M
I
.
x
Fa
m
i
l
i
e
s
m
a
y
r
e
m
a
i
n
i
n
t
h
e
dw
e
l
l
i
n
g
u
n
i
t
a
s
l
o
n
g
a
s
t
h
e
in
c
o
m
e
d
o
e
s
n
o
t
ex
c
e
e
d
1
2
0
%
AM
I
.
x
2
0
y
e
a
r
mi
n
i
m
u
m
.
x
E
q
u
a
l
o
r
g
r
e
a
t
e
r
a
m
o
u
n
t
de
d
i
c
a
t
i
o
n
o
f
e
x
i
s
t
i
n
g
u
n
i
t
s
.
x
A
f
f
o
r
d
a
b
l
e
H
o
u
s
i
n
g
Pe
r
f
o
r
m
a
n
c
e
A
g
r
e
e
m
e
n
t
.
x
M
i
x
o
f
p
o
l
i
c
y
a
n
d
or
d
i
n
a
n
c
e
.
x
C
i
t
y
w
i
l
l
c
o
n
in
c
l
u
d
i
n
g
:
x M
i
n
i
m
u
m
i
n
re
q
u
i
r
e
d
p
a
x M
i
n
i
m
u
m
o
f
rk
e
t
r
a
t
e
r
e
s
i
d
e
n
t
i
a
l
me
n
t
w
i
t
h
1
0
o
r
m
o
r
e
d
r
e
c
e
i
v
e
:
De
v
e
l
o
p
m
e
n
t
(o
r
d
.
r
e
q
u
i
r
e
d
)
Ma
p
A
m
e
n
d
m
e
n
t
qu
i
r
e
d
)
he
n
s
i
v
e
P
l
a
n
me
n
t
nc
i
a
l
A
s
s
i
s
t
a
n
c
e
x
1
5
%
o
f
u
n
i
t
s
a
t
6
0
%
A
M
I
o
r
10
%
o
f
u
n
i
t
s
a
t
5
0
%
A
M
I
o
r
5
%
of
u
n
i
t
s
a
t
3
0
%
A
M
I
x
2
0
y
e
a
r
mi
n
i
m
u
m
.
x
C
o
n
s
i
d
e
r
a
n
a
lt
e
r
n
a
t
i
v
e
pr
o
p
o
s
e
d
b
y
d
e
v
e
l
o
p
e
r
.
x
A
f
f
o
r
d
a
b
l
e
H
o
u
s
i
n
g
Pe
r
f
o
r
m
a
n
c
e
A
g
r
e
e
m
e
n
t
.
x
M
i
x
o
f
p
o
l
i
c
y
a
n
d
or
d
i
n
a
n
c
e
.
x
U
n
i
t
s
m
u
s
t
de
v
e
l
o
p
m
e
th
r
o
u
g
h
o
u
t
ap
p
r
o
v
e
d
b
is
t
e
d
h
o
u
s
i
n
g
of
1
0
o
r
m
o
r
e
u
n
i
t
s
.
is
t
a
n
c
e
i
n
c
l
u
d
e
s
T
I
F
,
na
t
i
o
n
,
l
a
n
d
b
u
y
x
V
a
r
i
e
s
b
a
s
e
d
o
n
f
u
n
d
i
n
g
so
u
r
c
e
b
u
t
g
e
n
e
r
a
l
l
y
i
s
e
i
t
h
e
r
20
%
o
f
u
n
i
t
s
a
t
6
0
%
A
M
I
o
r
20
%
o
f
u
n
i
t
s
a
t
5
0
%
A
M
I
(A
H
T
F
)
x
1
5
y
e
a
r
mi
n
i
m
u
m
.
x
N
o
n
e
.
x
O
n
l
y
1
-
2
p
r
ad
v
a
n
t
a
g
e
si
n
c
e
2
0
0
2
x
Cu
r
r
e
n
t
l
y
e
bo
n
u
s
a
n
d
p
a
r
k
i
n
g
n
i
n
c
e
n
t
i
v
e
A
a
s
s
i
s
t
e
d
r
e
n
t
a
l
s
me
o
w
n
e
r
s
h
i
p
.
ev
e
l
o
p
m
e
n
t
i
n
z
o
n
e
s
– d
e
n
s
i
t
y
nc
e
n
t
i
v
e
x R
e
n
t
a
l
s
– 3
0
%
o
f
u
n
i
t
s
af
f
o
r
d
a
b
l
e
t
o
h
o
u
s
e
h
o
l
d
s
ea
r
n
i
n
g
6
0
%
A
M
I
,
o
f
w
h
i
c
h
a
t
le
a
s
t
o
n
e
t
h
i
r
d
w
i
l
l
b
e
af
f
o
r
d
a
b
l
e
t
o
5
0
%
A
M
I
,
a
n
d
a
t
le
a
s
t
o
n
e
t
h
i
r
d
w
i
l
l
a
f
f
o
r
d
a
b
l
e
t
o
30
%
A
M
I
.
x
R
e
n
t
a
l
-
1
0
ye
a
r
mi
n
i
m
u
m
.
x
D
e
v
e
l
o
p
m
e
n
t
A
g
r
e
e
m
e
n
t
x
V
o
l
u
n
t
a
r
y
/
no
t
b
e
i
n
g
u
be
i
n
g
r
e
v
i
s
is
t
a
n
c
e
ry
/
i
n
c
e
n
t
i
v
e
b
a
s
e
d
f
o
r
op
m
e
n
t
s
.
x R
e
n
t
a
l
s
– 1
0
%
o
f
u
n
i
t
s
a
t
5
0
%
AM
I
f
o
r
a
l
l
d
e
v
e
l
o
p
m
e
n
t
s
,
2
0
%
of
u
n
i
t
s
a
t
5
0
%
A
M
I
i
f
u
s
i
n
g
TI
F
f
u
n
d
i
n
g
.
x
3
0
y
e
a
r
mi
n
i
m
u
m
.
x
C
o
n
s
i
d
e
r
e
d
o
n
a
c
a
s
e
b
y
c
a
s
e
ba
s
i
s
.
x
D
e
v
e
l
o
p
m
e
n
t
A
g
r
e
e
m
e
n
t
.
x P
r
o
d
u
c
e
d
si
n
c
e
2
0
0
4
is
t
a
n
c
e
vo
l
u
n
t
a
r
y
/
i
n
c
e
n
t
i
v
e
pp
r
o
a
c
h
f
o
r
a
l
l
me
n
t
s
;
e
x
p
l
o
r
i
n
g
g
a
p
o
l
i
c
y
.
x
C
i
t
y
s
u
b
s
i
d
y
– 2
0
%
o
f
u
n
i
t
s
a
t
50
%
A
M
I
.
x
V
o
l
u
n
t
a
r
y
/
i
n
c
e
n
t
i
v
e
– st
a
r
t
s
a
t
10
%
o
f
u
n
i
t
s
a
t
5
0
%
A
M
I
.
ry
/
i
n
c
e
n
t
i
v
e
b
a
s
e
d
–
bo
n
u
s
p
o
l
i
c
y
x
2
0
%
o
f
u
n
i
t
s
a
t
8
0
%
A
M
I
o
r
ne
g
o
t
i
a
t
e
d
.
x
1
5
y
e
a
r
mi
n
i
m
u
m
.
lo
p
m
e
n
t
s
t
h
a
t
n
e
e
d
ro
v
a
l
x
3
0
%
o
f
u
n
i
t
s
a
t
8
0
%
A
M
I
.
ry
/
i
n
c
e
n
t
i
v
e
b
a
s
e
d
–
bo
n
u
s
p
o
l
i
c
y
x
N
e
g
o
t
i
a
b
l
e
x
1
5
%
d
e
n
s
re
q
u
i
r
e
m
e
mb
e
r
o
f
Un
i
t
s
nu
m
b
e
r
o
f
va
c
a
n
t
u
n
i
t
s
Re
n
t
f
o
r
a
st
u
d
i
o
Re
n
t
f
o
r
a
1
be
d
r
o
o
m
Re
n
t
f
o
r
a
2
be
d
r
o
o
m
Re
n
t
f
o
r
a
3
b
e
d
r
o
o
m
Re
n
t
f
o
r
a
4
be
d
r
o
o
m
Do
y
o
u
a
c
c
e
p
t
se
c
t
i
o
n
8
Ha
s
r
e
n
t
in
c
r
e
a
s
e
d
ov
e
r
t
h
e
pa
s
t
2y
e
a
r
s
?
Ho
w
m
u
c
h
ha
s
r
e
n
t
in
c
r
e
a
s
e
d
?
Mo
s
t
12
0
75
0
80
0
no
n
e
w
ye
s
$1
5
-
5
0
12
0
0
Av
e
:
$
7
5
0
Av
e
$
8
5
0
Ye
s
ye
s
8%
10
0
84
5
-
9
5
0
ye
s
no
36
0
75
5
92
9
10
7
5
no
ye
s
5%
e
a
c
h
mo
n
t
h
24
0
$8
9
5
1
f
l
-
$
1
0
2
5
,
2
-
3
f
l
$1
0
7
5
Ye
s
(
T
y
p
i
c
a
l
l
y
do
n
’
t
m
e
e
t
cr
i
t
e
r
i
a
)
ye
s
10
0
-
2
b
d
-
1b
d
7
5
sm
o
k
90
0
ga
r
d
e
n
-
$
7
5
0
2
-
3
f
l
o
o
r
$
8
0
0
ye
s
ye
s
$2
0
po
l
i
c
e
12
8
0
$7
3
5
$8
3
5
-
8
5
5
$9
4
5
-
9
7
5
no
ye
s
$5
0
d
12
2
3
f
o
r
e
n
d
o
f
ma
r
c
h
$7
5
5
$9
3
5
ye
s
ye
s
50
no
n
-
81
4
(
0
i
n
p
a
s
t
fe
w
y
e
a
r
s
)
11
8
1
-
1
2
7
5
(1
b
d
+
d
e
n
10
8
1
11
9
0
-
1
7
5
0
No
(
i
n
h
e
r
i
t
e
d
)
ye
s
2-
5
%
65
11
5
0
12
0
1
84
5
-
9
2
0
10
1
0
-
1
9
0
No
n
e
w
o
n
e
s
ye
s
3%
i
n
c
r
e
a
s
e
18
0
73
7
87
0
ye
s
no
25
2
3
77
5
85
0
-
8
7
5
-
8
9
5
99
5
-
1
0
4
5
no
ye
s
50
la
t
72
0
84
9
94
9
11
3
9
ye
s
ye
s
34
-
5
5
54
0
84
9
94
9
11
3
9
no
ye
s
34
-
5
5
36
1
75
0
90
0
-
9
9
5
no
ye
s
75
-
9
5
50
0
89
5
-
9
2
5
10
5
0
-
1
1
9
0
ye
s
Ye
s
2-
4
%
21
7
0
91
9
-
9
4
9
11
2
9
-
1
1
5
9
11
5
9
-
1
1
8
9
2
b
d
+
1
.
5
b
a
12
0
9
-
1
2
4
9
2b
d
+
2
b
a
no
ye
s
10
0
12
8
0
90
0
97
5
-
1
0
0
0
12
5
0
ye
s
ye
s
50
-
7
5
84
2
92
9
99
9
-
1
0
5
0
no
ye
s
40
22
1
80
0
80
0
-
1
0
0
0
ye
s
ye
s
75
36
3
70
0
80
0
-
8
5
0
11
5
0
-
1
2
0
0
ye
s
ye
s
$5
0
no
27
6
3
95
0
+
11
0
5
-
1
2
2
5
+
ye
s
ye
s
5%
11
2
2
90
4
-
9
0
9
97
0
ye
s
ye
s
30
nu
m
b
e
r
o
f
va
c
a
n
t
u
n
i
t
s
Re
n
t
f
o
r
a
st
u
d
i
o
Re
n
t
f
o
r
a
1
be
d
r
o
o
m
Re
n
t
f
o
r
a
2
b
e
d
r
o
o
m
Re
n
t
f
o
r
a
3
be
d
r
o
o
m
Re
n
t
f
o
r
a
4
b
e
d
r
o
o
m
Re
n
t
f
o
r
a
5
be
d
r
o
o
m
Do
y
o
u
a
c
c
e
p
t
se
c
t
i
o
n
8
Ha
s
r
e
n
t
in
c
r
e
a
s
e
d
ov
e
r
t
h
e
pa
s
t
2y
e
a
r
s
?
Ho
w
m
u
c
h
ha
s
r
e
n
t
in
c
r
e
a
s
e
d
?
Mo
s
t
c
0
10
5
0
12
5
0
14
5
0
15
5
0
ye
s
ye
s
2-
3
%
13
0
0
14
0
0
15
0
0
Ye
s
1
13
5
0
no
ye
s
50
0
12
3
5
-
1
3
2
5
14
1
0
-
1
4
5
0
no
no
no
n
-
p
a
0
11
5
0
no
no
0
11
7
0
-
1
2
5
0
ye
s
no
no
n
0
10
0
0
12
0
0
no
ye
s
5%
13
5
0
-
2
0
0
0
no
no
0
85
0
-
9
5
0
ye
s
no
n
!
" #" $
%
$
!
&
" $
#" %
&
&
&
$
& $
'
!
"
(
$ ) $ &
*$
**
(
$ ) $ &
**
# $
!" ""
#$%"&
' ( )$
%%#*$"#$%""+,,-#--
,-#).#$%".&)
&&"%+,&,)&"%$%/&0+.
%%1)#
.!$
$#.2,%%&)))3,)$03"$%&$)+,&,
+&4
.5, . 12,"".$./&,'&
'-#
%/&.&
$$&.6 )&1+,&,),
).)&2,)3
,)$3"$%&$
"".$,+)3,,%&$)781 11)#
9+,&,)%#$+.5
&$
..,
6 )&2,,.&%.%
&,),%%,",6 )&+))5$),.
,+#,%%+).&.,+."#3+.+,,)$2 )33,#)&
5&&+,,,"+)+,,#+.&.+$$)))$$,%%2,..3
,)3
,%&$3&&
)+
$.33&,$
3,).%%)$2
, #"51
&$",-#),.,&&%3,)+,&,&$
..
3
0)
0 0
"
$03"$.#$%"2,5
$.+
$.,#":3
);)3")
.)
%
,5."
)2,%%)":3
.
..)
3&%!3)$$%
5."2
,%.
&,%%)+
$.5".0"!0%.
&+,)33.5$,)
"!< =0
=3,".&"2,&$$>5$,
)>.+
$.5)"$,
+!3&,
).#$%")
.,2,.#$%,))
5".%/&#+,&,
.)&5),&&%,&%.).,+),%".$2
,.#$%)
5".$%3"+,&,.&)$%/&&)3%%:"$?< 2
,%3".&),,+$$5%,3&.,.#$%&%)%%$3%
5$&
)
5)."!,%/&3)5$2,%/&)%%).+
$.",33.5$4
")3
,
)6 .)&+,&,),%36 .)&,,%%&
$)24
)3%
5$&
)
5).+
$.,
,, @)3"$#+%&))&$
.#+5, @)%
5$&3&
&)
$2
3#+,&&%%%)$,
&$.&.%)),%/&2,.#$%)
+4
)*$"#$%""$$+,""&.
&#+3,%%
53&3,%/&%%%%%%$)5&)) %%#$)3,
.#$%".+,,"3,)$3,*%2,*$"
#$%""+
$.:%(
$8 A2
,:)%+
$.53,.#$%)
5"%%$&3%
5$&)
5).+,&,+
$.,
.@)3"$#+%&))2,..#$%+$$$).%
&,)
"3,%%+,&,+
$.$)4
%
5$&,.%%#$3",%
:&
2
&).,)"2
. .#$%"
&RPPLVVLRQHU LQWURGXFHG WKH IROORZLQJ UHVROXWLRQ DQG
PRYHGLWVDGRSWLRQ
('$5(62/87,2112
5(62/87,21 $33529,1* $ 35(/,0,1$5< '(9(/230(17
$*5((0(17:,7+7+25/,9,1*//&
:+(5($6WKH(FRQRPLF'HYHORSPHQW$XWKRULW\RI%URRNO\Q&HQWHU0LQQHVRWD
WKH³$XWKRULW\´ KDVUHFHLYHGDSURSRVDOIURP7KRU/LYLQJ//&D0LQQHVRWDOLPLWHGOLDELOLW\
FRPSDQ\ WKH³'HYHORSHU´ UHJDUGLQJWKHGHYHORSPHQWRIODQGRZQHGE\WKH$XWKRULW\IRUWKH
FUHDWLRQRIDPXOWLIDPLO\ZRUNIRUFHKRXVLQJDSDUWPHQWEXLOGLQJZKLFKSURSRVDOFRQWHPSODWHVWKH
$XWKRULW\¶VFRQYH\DQFHRIWKH$XWKRULW\3URSHUW\WRWKH'HYHORSHU DQG
:+(5($6WKH$XWKRULW\¶V%RDUGRI&RPPLVVLRQHUVKDVUHYLHZHGWKH'HYHORSHU
V
GHYHORSPHQWFRQFHSWDQGKDVFDXVHGWREHSUHSDUHGD3UHOLPLQDU\'HYHORSPHQW$JUHHPHQWWR
DOORZWKH'HYHORSHUWRQHJRWLDWHWKHSXUFKDVHRIWKH$XWKRULW\3URSHUW\FRQGXFWGXHGLOLJHQFH
REWDLQWKHQHFHVVDU\ILQDQFLQJDQGFRPPLWPHQWVWRFRQVWUXFWWKHGHYHORSPHQWDSSO\IRUDQGJDLQ
DSSURYDOIURPWKH&LW\IRUWKHGHYHORSPHQWDQGDQ\QHFHVVDU\SXEOLFVXEVLG\ DQG
12: 7+(5()25( %( ,7 5(62/9(' E\ WKH %RDUG RI &RPPLVVLRQHUV RI WKH
(FRQRPLF'HYHORSPHQW$XWKRULW\RI%URRNO\Q&HQWHU0LQQHVRWD WKH³%RDUG DVIROORZV
7KH ('$KHUHE\ DSSURYHVWKH3UHOLPLQDU\'HYHORSPHQW $JUHHPHQWVXEVWDQWLDOO\LQ
DFFRUGDQFHZLWKWKHWHUPVVHWIRUWKLQWKHIRUPSUHVHQWHGWRWKH%RDUGWRJHWKHUZLWKDQ\UHODWHG
GRFXPHQWV QHFHVVDU\ LQ FRQQHFWLRQ WKHUHZLWK FROOHFWLYHO\ WKH3UHOLPLQDU\ 'HYHORSPHQW
'RFXPHQWV DQGKHUHE\DXWKRUL]HVWKH3UHVLGHQWDQG([HFXWLYH'LUHFWRUWRQHJRWLDWHWKHILQDO
WHUPVWKHUHRIDQGLQWKHLUGLVFUHWLRQDQGDWVXFKWLPHDVWKH\PD\GHHPDSSURSULDWHWRH[HFXWHWKH
3UHOLPLQDU\'HYHORSPHQW'RFXPHQWVRQEHKDOIRIWKH$XWKRULW\DQGWRFDUU\RXWRQEHKDOIRIWKH
$XWKRULW\WKH$XWKRULW\¶VREOLJDWLRQVWKHUHXQGHU
7KH DSSURYDO KHUHE\ JLYHQ WR WKH 3UHOLPLQDU\ 'HYHORSPHQW 'RFXPHQWV LQFOXGHV
DSSURYDO RI VXFK DGGLWLRQDO GHWDLOV WKHUHLQ DV PD\ EH QHFHVVDU\ DQG DSSURSULDWH DQG VXFK
PRGLILFDWLRQV WKHUHRI GHOHWLRQV WKHUHIURP DQG DGGLWLRQV WKHUHWR DV PD\ EH QHFHVVDU\ DQG
DSSURSULDWHDQGDSSURYHGE\OHJDOFRXQVHOWRWKH$XWKRULW\DQGE\WKHRIILFHUVDXWKRUL]HGKHUHLQWR
H[HFXWHVDLGGRFXPHQWVSULRUWRWKHLUH[HFXWLRQ DQGVDLGRIILFHUVDUHKHUHE\DXWKRUL]HGWRDSSURYH
VDLG FKDQJHV RQ EHKDOI RI WKH $XWKRULW\ 7KH H[HFXWLRQ RI DQ\ LQVWUXPHQW E\ WKH DSSURSULDWH
RIILFHUV RI WKH $XWKRULW\ KHUHLQ DXWKRUL]HG VKDOO FRQFOXVLYH HYLGHQFH RI WKH DSSURYDO RI VXFK
GRFXPHQWLQDFFRUGDQFHZLWKWKHWHUPVKHUHRI,QWKHHYHQWRIDEVHQFHRUGLVDELOLW\RIWKHRIILFHUV
DQ\ RI WKH GRFXPHQWV DXWKRUL]HGE\ WKLV 5HVROXWLRQWREH H[HFXWHG PD\EH H[HFXWHG ZLWKRXW
IXUWKHUDFWRUDXWKRUL]DWLRQRIWKH%RDUGE\DQ\GXO\GHVLJQDWHGDFWLQJRIILFLDORUE\VXFKRWKHU
RIILFHURURIILFHUVRIWKH%RDUGDVLQWKHRSLQLRQRIWKH&LW\$WWRUQH\PD\DFWLQWKHLUEHKDOI
8SRQH[HFXWLRQDQGGHOLYHU\RIWKH3UHOLPLQDU\'HYHORSPHQW'RFXPHQWVWKHRIILFHUV
DQGHPSOR\HHVRIWKH$XWKRULW\DUHKHUHE\DXWKRUL]HGDQGGLUHFWHGWRWDNHRUFDXVHWREHWDNHQ
VXFK DFWLRQV DV PD\ EH QHFHVVDU\ RQ EHKDOI RI WKH $XWKRULW\ WRLPSOHPHQW WKH 3UHOLPLQDU\
'HYHORSPHQW'RFXPHQWV
5HVROXWLRQ1R
7KH%RDUGKHUHE\GHWHUPLQHVWKDWWKHH[HFXWLRQDQGSHUIRUPDQFHRIWKH3UHOLPLQDU\
'HYHORSPHQW'RFXPHQWVZLOOKHOSUHDOL]HWKHSXEOLFSXUSRVHVRIWKH$FW
'HFHPEHU
' D W H 0 D \ R U
$77(67
& L W \ & O H U N
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\FRPPLVVLRQHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
Y
35(/,0,1$5<'(9(/230(17$*5((0(17
35(/,0,1$5<'(9(/230(17$*5((0(17GDWHGWKLVWKGD\RI'HFHPEHU
E\DQGEHWZHHQWKH(FRQRPLF'HYHORSPHQW$XWKRULW\RI%URRNO\Q&HQWHU6KLQJOH
&UHHN3DUNZD\%URRNO\Q&HQWHU01 WKH³$XWKRULW\´ DQG7KRU/LYLQJ//&
3HQQ$YH1RUWK6XLWH0LQQHDSROLV01 WKH³'HYHORSHU´
:+(5($6WKH$XWKRULW\LVWKHIHHRZQHURISURSHUW\ORFDWHGLQWKH&LW\RI%URRNO\Q
&HQWHU WKH³&LW\´ DW%URRNO\Q%OYGDQGVW$YH1RUWK WKH³3URSHUW\´
ZKLFK3URSHUW\WKH$XWKRULW\LVZLOOLQJWRFRQVLGHUVHOOLQJIRUSXUSRVHVRIGHYHORSPHQWRIDQ
DSSUR[LPDWHO\ XQLW PXOWLIDPLO\ ZRUNIRUFH KRXVLQJ DSDUWPHQW EXLOGLQJ WKH
³'HYHORSPHQW´
:+(5($6WKH'HYHORSHUGHVLUHVWRH[SORUHWKHSRVVLELOLW\RIDFTXLULQJWKH3URSHUW\
WRJHWKHUZLWKDGGLWLRQDODGMRLQLQJSULYDWHSURSHUW\ ³$GGLWLRQDO3URSHUW\´ WRFRPELQHZLWKWKH
3URSHUW\ WRJHWKHU WKH ³3URSHUW\´ DQG ³$GGLWLRQDO 3URSHUW\´ DUH UHIHUUHG WR KHUHLQ DV WKH
³'HYHORSPHQW3URSHUW\´ IRUGHYHORSPHQWRIWKH'HYHORSPHQW
:+(5($6WKH$XWKRULW\¶V%RDUGRI&RPPLVVLRQHUVKDVUHYLHZHGWKH'HYHORSPHQW
FRQFHSWDQGLVLQWHUHVWHGLQGHYHORSPHQWRIWKH3URSHUW\DVSURSRVHGE\WKH'HYHORSHU
:+(5($6LIWKH'HYHORSHULVVXFFHVVIXOLQ REWDLQLQJWKHQHFHVVDU\ILQDQFLQJ DQG
FRPPLWPHQWVWRFRQVWUXFWWKH'HYHORSPHQWDQGDJUHHVWRFRQVWUXFWWKH'HYHORSPHQWWKHQWKH
$XWKRULW\ZRXOGEHZLOOLQJWRHQWHULQWRDQDJUHHPHQWZLWKWKH'HYHORSHUIRUWKHFRQYH\DQFHRI
WKH3URSHUW\DQGFRQVWUXFWLRQRIWKH'HYHORSPHQWDWDPXWXDOO\DJUHHGXSRQSULFHWRJHWKHUZLWK
RWKHUQHJRWLDWHGFRQGLWLRQVIRUFRQYH\DQFHRIWKH'HYHORSPHQW3URSHUW\
:+(5($6 'HYHORSHU KDV UHTXHVWHG WKDW WKH $XWKRULW\ H[HFXWH WKLV 3UHOLPLQDU\
'HYHORSPHQW $JUHHPHQW ³3'$´ DJUHHLQJ WR ZRUN VROHO\ ZLWK 'HYHORSHU GXULQJ WKH WHUP
KHUHRIRQQHJRWLDWLRQVIRUDFTXLVLWLRQRIWKH'HYHORSPHQW3URSHUW\E\'HYHORSHUWRSURYLGH
'HYHORSHUZLWKWLPHWRFRQGXFWUHYLHZRIWKH'HYHORSPHQW3URSHUW\REWDLQILQDQFLQJIRUWKH
SURSRVHG 'HYHORSPHQW SUHSDUH DSSURSULDWH SODQV IRU WKH 3URSHUW \ REWDLQ QHFHVVDU\ &LW\
DSSURYDOVIRUWKH'HYHORSPHQWDQGQHJRWLDWHZLWKWKH$XWKRULW\RQDQDJUHHPHQWIRUWKHVDOHRI
WKH'HYHORSPHQW3URSHUW\
:+(5($6WKH$XWKRULW\LVZLOOLQJWRHQWHULQWRWKLV3'$IRUVXFKSXUSRVHVXSRQWKH
WHUPVDQGFRQGLWLRQVSURYLGHGKHUHLQ
12:7+(5()25(WKHSDUWLHVDJUHHDVIROORZV
,QFRQVLGHUDWLRQRIWKHSURFHVVLQJRIWKH'HYHORSPHQWXQGHUWKHWHUPVRIWKLV
3'$WKH$XWKRULW\DJUHHVWKDWLWZLOOQHJRWLDWHDQGZRUNVROHO\ZLWK'HYHORSHURQQHJRWLDWLRQV
IRUVDOHRIWKH3URSHUW\WR'HYHORSHUIRU'HYHORSHU¶VSURSRVHG'HYHORSPHQWXQWLO-XO\
³7HUP´
'XULQJWKH7HUPRIWKLV3'$'HYHORSHUDJUHHVWRXVHLWVEHVWHIIRUWVWR
Y
L FRPSOHWHVLWHSODQQLQJDQGVLWHHQJLQHHULQJ
LL FRPSOHWHDUFKLWHFWXUDOFRQFHSWSODQV
LLL VXEPLW DSSOLFDWLRQ IRU D 3XEOLF 6XEVLG\ UHTXHVW DQG DOO QHFHVVDU\ ILQDQFLDO
GRFXPHQWDWLRQQHHGHGIRUUHYLHZ
LY VXEPLW DSSOLFDWLRQ DQG UHFHLYH DOO QHFHVVDU\ &LW\ DSSURYDOV UHODWHG WR WKH
VXEGLYLVLRQDQGGHYHORSPHQWRIWKH'HYHORSPHQW3URSHUW\
Y VHFXUHFRQVWUXFWLRQILQDQFLQJQHFHVVDU\WRFRQVWUXFWDSURMHFWFRQVLVWHQWZLWKWKH
WHUPVRIWKLV3'$
YL QHJRWLDWHD&RQWUDFWIRU3ULYDWH'HYHORSPHQWIRUDFTXLVLWLRQDQGGHYHORSPHQWRI
WKH'HYHORSPHQW3URSHUW\DQGFRQVWUXFWLRQRIDQDSSURYHG'HYHORSPHQW
'XULQJWKH7HUPRIWKLV3'$'HYHORSHUDQGWKH$XWKRULW\DJUHHWRXVHWKHLUEHVW
HIIRUWVWRUHVROYHSURSHUW\DFTXLVLWLRQLVVXHVUHODWHGWRWKH'HYHORSPHQW3URSHUW\DQGWRDWWHPSW
WREULQJIUXLWLRQWRWKHSURSRVHG'HYHORSPHQWWKURXJKD&RQWUDFWIRU3ULYDWH'HYHORSPHQWIRU
FRQYH\DQFHRIWKH3URSHUW\DQGGHYHORSPHQWRIWKH'HYHORSPHQW3URSHUW\ SURYLGHGKRZHYHU
WKDW WKH 'HYHORSHU DFNQRZOHGJHV WKDW WKH $XWKRULW\ ZLOO QRW H[HUFLVH WKH SRZHU RI HPLQHQW
GRPDLQZLWKUHVSHFWWRWKHDFTXLVLWLRQRIDQ\SURSHUW\LQFRQQHFWLRQZLWKWKH'HYHORSPHQWRU
WKLV3'$
'HYHORSHUPD\DVVLJQWKLV3'$WRDQDIILOLDWHRU$XWKRULW\DSSURYHGVXFFHVVRU
XSRQZULWWHQQRWLILFDWLRQDQGDSSURYDOE\WKH&LW\
7KH'HYHORSHUZLOOSURYLGHWKH&LW\ZLWKDZULWWHQSURJUHVVUHSRUWRQWKHVWDWXVRI
WKHJRDOVLGHQWLILHGLQ3DUDJUDSKVDQGHYHU\GD\VIROORZLQJWKHGDWHRIWKLV3'$
7KLV 3'$ UHSUHVHQWV WKH HQWLUH XQGHUVWDQGLQJ RI WKH SDUWLHV UHJDUGLQJ WKH
'HYHORSPHQW$UHDDQGDQ\DPHQGPHQWWRWKLV3'$VKDOOEHLQZULWLQJDQGEHH[HFXWHGE\ERWK
SDUWLHV
%RWK 3DUWLHV DUH DZDUH RI DQG DFNQRZOHGJH WKDW FRQWLQJHQFLHV DQG XQNQRZQV
SUHVHQWO\H[LVWDQ\RQHRUPRUHRIZKLFKFRXOGPDNHWKH'HYHORSPHQWFRVWSURKLELWLYHDQGWKDW
ERWKSDUWLHVDUHH[SHQGLQJVXPVRIPRQH\DQGWLPHZLWKIXOONQRZOHGJHRIWKHULVNVLQYROYHG
DQGWKDWQHLWKHUSDUW\VKDOOEHOLDEOHIRUDQ\RIWKHRWKHUSDUW\¶VH[SHQVHVLQDQ\HYHQWH[FHSW L
DVRWKHUZLVHSURYLGHGSXUVXDQWWRDVHSDUDWHDJUHHPHQWEHWZHHQWKHSDUWLHV LL LQFRQQHFWLRQ
ZLWKDQDSSOLFDWLRQIRUD3XEOLF6XEVLG\RU LLL SXUVXDQWWRUHTXLUHGIHHVRUFRVWVUHODWHGWR
DSSOLFDWLRQVPDGHWRWKH&LW\RUXQGHU&LW\&RGH
7KHSDUWLHVDJUHHWKDWWKLV3'$LVQRWLQWHQGHGWRELQGWKHSDUWLHVWRHQWHULQWRDQ
DJUHHPHQWIRUWKHVDOHDQGDFTXLVLWLRQRIWKH3URSHUW\EXWLVPHUHO\LQWHQGHGWRVHWIRUWKWKH
SDUWLHV¶LQWHQWWRSURFHHGZLWKWKHSURFHVVRI L QHJRWLDWLQJDQDJUHHPHQWIRUWKHVDOHRIWKH
'HYHORSPHQW3URSHUW\DQGGHYHORSPHQWRIWKH'HYHORSPHQW3URSHUW\DQG LL UHVROYLQJFHUWDLQ
SUHGHYHORSPHQWLVVXHVUHODWHGWRWKH'HYHORSPHQW3URSHUW\DQG'HYHORSPHQW
1RDSSURYDOJLYHQE\WKH$XWKRULW\KHUHXQGHURULQFRQQHFWLRQKHUHZLWKVKDOOEH
GHHPHGWRFRQVWLWXWHDQDSSURYDORIWKH'HYHORSPHQWIRUDQ\SXUSRVHRWKHUWKDQDVVWDWHGKHUHLQ
DQGWKHSURFHVVRXWOLQHGLQWKLV$JUHHPHQWVKDOOQRWEHGHHPHGWRVXSHUVHGHDQ\FRQFHSWUHYLHZ
Y
FRQGLWLRQDOXVHSHUPLWYDFDWLRQVXEGLYLVLRQRURWKHU]RQLQJRUSODQQLQJDSSURYDOSURFHVVRIWKH
$XWKRULW\RUWKH&LW\UHODWLYHWRWKHGHYHORSPHQWRIUHDOHVWDWH
7KLV3'$PD\EHDPHQGHGE\PXWXDOZULWWHQDJUHHPHQWRIWKHSDUWLHV
,I DQ\ SRUWLRQ RI WKLV $JUHHPHQW LV KHOG LQYDOLG E\ D FRXUW RI FRPSHWHQW
MXULVGLFWLRQ VXFK GHFLVLRQ VKDOO QRW DIIHFW WKH YDOLGLW\ RI DQ\ UHPDLQLQJ SRUWLRQ RI WKLV
$JUHHPHQW
1RWLFHGHPDQGRURWKHUFRPPXQLFDWLRQIURPRQHSDUW\WRWKHRWKHUVKDOOEH
GHHPHGHIIHFWLYHLIVHQWE\FHUWLILHGPDLOSRVWDJHSUHSDLGUHWXUQUHFHLSWUHTXHVWHGRUGHOLYHUHG
SHUVRQDOO\WRDSDUW\DWLWVDGGUHVVLQWKHILUVWSDUDJUDSKRIWKLV$JUHHPHQWRUDWVXFKRWKHU
DGGUHVVDVVXFKSDUW\PD\GHVLJQDWHLQZULWLQJWRWKHRWKHUSDUW\
7KH $XWKRULW\ DQG 'HYHORSHU DJUHH WKDW WKLV $JUHHPHQW LV LQWHQGHG WR EH
SUHOLPLQDU\ LQ QDWXUH DQG ZLOO EH VXSHUVHGHG E\ RQH RU PRUH GHILQLWLYH FRQWUDFWV PXWXDOO\
VDWLVIDFWRU\ WR WKH $XWKRULW\ DQG WKH 'HYHORSHU ZKLFK VKDOO EH QHJRWLDWHG DSSURYHG DQG
H[HFXWHGE\WKH$XWKRULW\DQGWKH'HYHORSHUDQGQRREOLJDWLRQUHJDUGLQJWKHFRQYH\DQFHRI
SURSHUW\RUSURYLVLRQRIDQ\3XEOLF6XEVLG\VKDOOH[LVWZLWKUHVSHFWWRWKH'HYHORSPHQWSULRUWKH
DSSURYDODQGH[HFXWLRQRIVXFKGHILQLWLYHFRQWUDFW V
,1 :,71(66 :+(5(2) WKH $XWKRULW\ KDV FDXVHG WKLV $JUHHPHQW WR EH GXO\
H[HFXWHG LQ LWV QDPH DQG EHKDOI DQG WKH 'HYHORSHU KDV FDXVHG WKLV $JUHHPHQW WR EH GXO\
H[HFXWHGLQLWVQDPHDQGEHKDOIRQRUDVRIWKHGDWHILUVWDERYHZULWWHQ
(&2120,& '(9(/230(17 $87+25,7<
2)%522./<1&(17(50,11(627$
%\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
,WV3UHVLGHQW
%\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
,WV([HFXWLYH'LUHFWRU
7KRU/LYLQJ//&
%\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
,WVBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
!" ""
#$%"&
' ( )$
%%#*$"#$%""+, ")--
,+)%%."$
&)/
0#$%0&
)$01
),+)/,+20
)
,/34,#
5,%%+)&6
0 7,/,+/$0&"%$,
%$00#$%"/,)7!))0005,&6
0,%%/,
%
%)/%)#//
)0$,
)%%
)5,%%+)&6
0/82
)9 :%$0,
)/
0)5,)/
0)))0)%&/&$$7
)0&$;,
0#$%"///07$,
)59///07$,
)),/$
),%%,,/
0)
+$$07%07&!,0)&5
, &7
",
&$#+0,%%)$)/"0#$%))0
0#$%,)5, #"7:
",
&$)$&0 ")),
%/00#$%5
"),0//0+%))%/,%%)$<2 =- &%*$+,&,%%)0:2
)$/"$,")+,""
"$+0,/2 /0&%0,"#$
)/8:2 >8:2 5<
3 =- &%*$+,&,%%)0: )$/"$,")+,""
"$+0,/3 /0&%0
,"#$
)/8:: >8:32 5 %%)0%
&,)%&/8:2 /$0+,,/)%
08? /,)&0%5
,
&$0&0,%/0,/)%5
900,#&/)",/+ ,)0&0,,%%)$+$$6
,
&6
)/00$%#%%0&&""0,+,
)59/,%%)&7
&6
0,&6
)"
)0//,,)"0"
,,%1&)"07
$0,$0#$
01
)05
'//,)%%0*$"#$%"",+$$$$+ 7,0
0$&
,00$%%&6
)0%%$/%$"0/$%$/", 5,
*$"#$%""+$$.%%$ 45 ,%)&"%$,%$
%&))7,0077$&""&+,&)
&&#)),$,/5
%
&,)"+$$070)%/,.)%)/,%&))+,&,+$$&"7&!
7/,/%%#$5,0)%)/%
7$&$0$)6
)%
7$&,7/,
+,&,+$$&&
%&$)0)%/,%%#$/,%
&,)"5
&)0,)"5
0 0#$%"
&RPPLVVLRQHU LQWURGXFHG WKH IROORZLQJ UHVROXWLRQ DQG
PRYHGLWVDGRSWLRQ
('$5(62/87,2112
5(62/87,21 $33529,1* $ 35(/,0,1$5< '(9(/230(17
$*5((0(17:,7+&(175$+20(6//&
:+(5($6WKH(FRQRPLF'HYHORSPHQW$XWKRULW\RI%URRNO\Q&HQWHU0LQQHVRWD
WKH ³$XWKRULW\´ KDV UHFHLYHG D SURSRVDO IURP &HQWUD +RPHV D0LQQHVRWD OLPLWHG OLDELOLW\
FRPSDQ\ WKH³'HYHORSHU´ UHJDUGLQJWKHGHYHORSPHQWRIODQGRZQHGE\WKH$XWKRULW\IRUWKH
FUHDWLRQRIDILQDOSODWFRQVWUXFWLRQRIVLQJOHIDPLO\KRPHVDQGDVVRFLDWHGSXEOLFLQIUDVWUXFWXUH
LPSURYHPHQWV LQFOXGLQJ XWLOLWLHV QHZ URDGV DQG VWRUP ZDWHU SRQGLQJ ZKLFK SURSRVDO
FRQWHPSODWHVWKH$XWKRULW\¶VFRQYH\DQFHRIWKH$XWKRULW\3URSHUW\WRWKH'HYHORSHU DQG
:+(5($6WKH$XWKRULW\¶V%RDUGRI&RPPLVVLRQHUVKDVUHYLHZHGWKH'HYHORSHU
V
GHYHORSPHQWFRQFHSWDQGKDVFDXVHGWREHSUHSDUHGD3UHOLPLQDU\'HYHORSPHQW$JUHHPHQWWR
DOORZWKH'HYHORSHUWRQHJRWLDWHWKHSXUFKDVHRIWKH$XWKRULW\3URSHUW\FRQGXFWGXHGLOLJHQFH
DQGJDLQDSSURYDOIURPWKH&LW\IRUDSUHOLPLQDU\DQGILQDOSODWWRVXEGLYLGHWKHSURSHUW\ DQG
12: 7+(5()25( %( ,7 5(62/9(' E\ WKH %RDUG RI &RPPLVVLRQHUV RI WKH
(FRQRPLF'HYHORSPHQW$XWKRULW\RI%URRNO\Q&HQWHU0LQQHVRWD WKH³%RDUG DVIROORZV
7KH ('$KHUHE\ DSSURYHVWKH3UHOLPLQDU\'HYHORSPHQW $JUHHPHQWVXEVWDQWLDOO\LQ
DFFRUGDQFHZLWKWKHWHUPVVHWIRUWKLQWKHIRUPSUHVHQWHGWRWKH%RDUGWRJHWKHUZLWKDQ\UHODWHG
GRFXPHQWV QHFHVVDU\ LQ FRQQHFWLRQ WKHUHZLWK FROOHFWLYHO\ WKH3UHOLPLQDU\ 'HYHORSPHQW
'RFXPHQWV DQGKHUHE\DXWKRUL]HVWKH3UHVLGHQWDQG([HFXWLYH'LUHFWRUWRQHJRWLDWHWKHILQDO
WHUPVWKHUHRIDQGLQWKHLUGLVFUHWLRQDQGDWVXFKWLPHDVWKH\PD\GHHPDSSURSULDWHWRH[HFXWHWKH
3UHOLPLQDU\'HYHORSPHQW'RFXPHQWVRQEHKDOIRIWKH$XWKRULW\DQGWRFDUU\RXWRQEHKDOIRIWKH
$XWKRULW\WKH$XWKRULW\¶VREOLJDWLRQVWKHUHXQGHU
7KH DSSURYDO KHUHE\ JLYHQ WR WKH 3UHOLPLQDU\ 'HYHORSPHQW 'RFXPHQWV LQFOXGHV
DSSURYDO RI VXFK DGGLWLRQDO GHWDLOV WKHUHLQ DV PD\ EH QHFHVVDU\ DQG DSSURSULDWH DQG VXFK
PRGLILFDWLRQV WKHUHRI GHOHWLRQV WKHUHIURP DQG DGGLWLRQV WKHUHWR DV PD\ EH QHFHVVDU\ DQG
DSSURSULDWHDQGDSSURYHGE\OHJDOFRXQVHOWRWKH$XWKRULW\DQGE\WKHRIILFHUVDXWKRUL]HGKHUHLQWR
H[HFXWHVDLGGRFXPHQWVSULRUWRWKHLUH[HFXWLRQ DQGVDLGRIILFHUVDUHKHUHE\DXWKRUL]HGWRDSSURYH
VDLG FKDQJHV RQ EHKDOI RI WKH $XWKRULW\ 7KH H[HFXWLRQ RI DQ\ LQVWUXPHQW E\ WKH DSSURSULDWH
RIILFHUV RI WKH $XWKRULW\ KHUHLQ DXWKRUL]HG VKDOO FRQFOXVLYH HYLGHQFH RI WKH DSSURYDO RI VXFK
GRFXPHQWLQDFFRUGDQFHZLWKWKHWHUPVKHUHRI,QWKHHYHQWRIDEVHQFHRUGLVDELOLW\RIWKHRIILFHUV
DQ\ RI WKH GRFXPHQWV DXWKRUL]HGE\ WKLV 5HVROXWLRQWREH H[HFXWHG PD\ EH H[HFXWHG ZLWKRXW
IXUWKHUDFWRUDXWKRUL]DWLRQRIWKH%RDUGE\DQ\GXO\GHVLJQDWHGDFWLQJRIILFLDORUE\VXFKRWKHU
RIILFHURURIILFHUVRIWKH%RDUGDVLQWKHRSLQLRQRIWKH&LW\$WWRUQH\PD\DFWLQWKHLUEHKDOI
8SRQH[HFXWLRQDQGGHOLYHU\RIWKH3UHOLPLQDU\'HYHORSPHQW'RFXPHQWVWKHRIILFHUV
DQGHPSOR\HHVRIWKH$XWKRULW\DUHKHUHE\DXWKRUL]HGDQGGLUHFWHGWRWDNHRUFDXVHWREHWDNHQ
VXFK DFWLRQV DV PD\ EH QHFHVVDU\ RQ EHKDOI RI WKH $XWKRULW\ WRLPSOHPHQW WKH 3UHOLPLQDU\
'HYHORSPHQW'RFXPHQWV
5HVROXWLRQ1R
7KH%RDUGKHUHE\GHWHUPLQHVWKDWWKHH[HFXWLRQDQGSHUIRUPDQFHRIWKH3UHOLPLQDU\
'HYHORSPHQW'RFXPHQWVZLOOKHOSUHDOL]HWKHSXEOLFSXUSRVHVRIWKH$FW
'HFHPEHU
' D W H 0 D \ R U
$77(67
& L W \ & O H U N
7KHPRWLRQIRUWKHDGRSWLRQRIWKHIRUHJRLQJUHVROXWLRQZDVGXO\VHFRQGHGE\FRPPLVVLRQHU
DQGXSRQYRWHEHLQJWDNHQWKHUHRQWKHIROORZLQJYRWHGLQIDYRUWKHUHRI
DQGWKHIROORZLQJYRWHGDJDLQVWWKHVDPH
ZKHUHXSRQVDLGUHVROXWLRQZDVGHFODUHGGXO\SDVVHGDQGDGRSWHG
Y7-*%5
35(/,0,1$5<'(9(/230(17$*5((0(17
7+,635(/,0,1$5<'(9(/230(17$*5((0(17 ³$JUHHPHQW´ LVPDGHDQG
HQWHUHG LQWR WKLV WK GD\ RI 'HFHPEHU E\ DQG EHWZHHQ WKH (FRQRPLF 'HYHORSPHQW
$XWKRULW\RI%URRNO\Q&HQWHU0LQQHVRWD WKH³$XWKRULW\´ ZLWKLWVSULQFLSDORIILFHDW
6KLQJOH &UHHN 3DUNZD\ %URRNO\Q &HQWHU 0LQQHVRWD DQG &HQWUD +RPHV //& D
0LQQHVRWD OLPLWHG OLDELOLW\ FRPSDQ\ WKH ³'HYHORSHU´ ZLWK LWV SULQFLSDO RIILFH DW
5RELQVRQ'U1:&RRQ5DSLGV017KH$XWKRULW\DQGWKH'HYHORSHUPD\KHUHLQDIWHU
EHUHIHUUHGWRLQGLYLGXDOO\DVD³SDUW\´DQGFROOHFWLYHO\DVWKH³SDUWLHV´
:+(5($6WKH$XWKRULW\LVWKHRZQHURIFHUWDLQUHDOSURSHUW\GHVFULEHGLQ([KLELW$
WKH³$XWKRULW\3URSHUW\´ ORFDWHGLQWKH&LW\RI%URRNO\Q&HQWHU WKH³&LW\´ DQG
:+(5($6WKH'HYHORSHUKDVSUHVHQWHGWRWKH$XWKRULW\DFRQFHSWIRUWKHGHYHORSPHQW
R I W K H $ X W K R U L W \ 3 U R S H U W \ D Q G F H U W D L Q R W K H U U H D O S U R S H U W \ O R F D WHG DGMDFHQW WR WKH $XWKRULW\
3URSHUW\WKDWPD\EHDFTXLUHGE\WKH'HYHORSHU WKH³$GGLWLRQDO3URSHUW\´ IRUWKHFUHDWLRQRI
D ILQDO SODW FRQVWUXFWLRQ RI VLQJOH IDPLO\ KRPHV ZLWK DQWLFLSDWHG VDOH SULFHV EHWZHHQ
DQGDVVRFLDWHGSXEOLFLQIUDVWUXFWXUHLPSURYHPHQWVLQFOXGLQJXWLOLWLHVQHZ
URDGV DQG VWRUP ZDWHU SRQGLQJ WKH ³'HYHORSPHQW´ ZKLFK SURSRVDO FRQWHPSODWHV WKH
$XWKRULW\¶V FRQYH\DQFH RI WKH $XWKRULW\ 3URSHUW\ WR WKH 'HYHORSHU 7KH 'HYHORSHU KDV
DOORFDWHGIRUWKHSXUFKDVHRIERWKWKH$XWKRULW\3URSHUW\DQG$GGLWLRQDO3URSHUW\ DQG
:+(5($6WKH$XWKRULW\3URSHUW\DQGWKH$GGLWLRQDO3URSHUW\DUHFROOHFWLYHO\UHIHUUHG
WRLQWKLV$JUHHPHQWDVWKH³'HYHORSPHQW3URSHUW\´ DQG
:+(5($6 WKH $XWKRULW\¶V %RDUG RI &RPPLVVLRQHUV KDV UHYLHZHG WKH 'HYHORSHU
V
GHYHORSPHQWFRQFHSWDQGGHVLUHVWRHQWHULQWRWKLV3UHOLPLQDU\'HYHORSPHQW$JUHHPHQWWRDOORZ
WKH'HYHORSHUWRQHJRWLDWHWKHSXUFKDVHRIWKH$XWKRULW\3URSHUW\FRQGXFWGXHGLOLJHQFHDQG
JDLQDSSURYDOIURPWKH&LW\IRUDSUHOLPLQDU\DQGILQDOSODWWRVXEGLYLGHWKHSURSHUW\ DQG
:+(5($6WKH$XWKRULW\DQG'HYHORSHULQWHQGWRSURFHHGZLWKWKH'HYHORSPHQWLI L D
VDWLVIDFWRU\DJUHHPHQWFDQEHUHDFKHGUHJDUGLQJWKHSXUFKDVHSULFHWREHSDLGE\WKH'HYHORSHU
IRU WKH $XWKRULW\ 3URSHUW\ LL WKH 'HYHORSHU VXFFHVVIXOO\ QHJRWLDWHV WKH SXUFKDVH RI DQ\
QHFHVVDU\$GGLWLRQDO3URSHUW\ LLL VDWLVIDFWRU\ILQDQFLQJIRUWKH'HYHORSPHQWFDQEHVHFXUHG
DQG LY WKH&LW\DSSURYHVDSUHOLPLQDU\DQGILQDOSODWWRVXEGLYLGHWKHSURSHUW\DOORZLQJWKH
'HYHORSPHQWWRSURFHHG
12:7+(5()25(LQFRQVLGHUDWLRQRIWKHIRUHJRLQJWKH$XWKRULW\DQGWKH'HYHORSHU
KHUHE\DJUHHDVIROORZV
6HFWLRQ3UHOLPLQDU\1DWXUHRI$JUHHPHQW7KH$XWKRULW\DQG'HYHORSHUDJUHHWKDWWKLV
$JUHHPHQWLVLQWHQGHGWREHSUHOLPLQDU\LQQDWXUH%HIRUHWKH$XWKRULW\DQG'HYHORSHUFDQ
PDNHDGHFLVLRQRQZKHWKHUWRSURFHHGZLWKWKHLPSOHPHQWDWLRQRIWKH'HYHORSPHQWLWZLOOEH
QHFHVVDU\WRDVVHPEOH$GGLWLRQDO3URSHUW\DQGFRQVLGHULQIRUPDWLRQUHODWLYHWRWKHXVHVGHVLJQ
HFRQRPLFVDQGRWKHUDVSHFWVRIWKH'HYHORSPHQW7KHSXUSRVHRIWKLV$JUHHPHQWLVWRDOORZWKH
Y7-*%5
'HYHORSHUDQRSSRUWXQLW\WRDVVHPEOHVXFKQHFHVVDU\LQIRUPDWLRQWRUHILQHWKHDERYHUHIHUHQFHG
GHYHORSPHQWFRQFHSWWRQHJRWLDWHZLWKWKH$XWKRULW\FRQFHUQLQJWKHH[HFXWLRQRIDSXUFKDVH
DJUHHPHQWDQGVXEGLYLVLRQDJUHHPHQW FROOHFWLYHO\WKH³&RQWUDFWV´ DQGZKLFKLIH[HFXWHG
ZLOOVHWIRUWKWKHULJKWVDQGUHVSRQVLELOLWLHVRIWKH$XWKRULW\DQGWKH'HYHORSHUZLWKUHVSHFWWRWKH
'HYHORSPHQW
'XULQJWKHWHUPRIWKLV$JUHHPHQWWKH$XWKRULW\DJUHHVWKDWLWZLOOQRW L GLVFXVVWKHWHUPVRI
WKH'HYHORSPHQWZLWKDWKLUGSDUW\ZLWKRXWWKHSULRUZULWWHQFRQVHQWRI'HYHORSHUH[FHSWWRWKH
H[WHQWUHTXLUHGE\WKH0LQQHVRWD*RYHUQPHQW'DWD3UDFWLFHV$FW 0LQQHVRWD6WDWXWHV&KDSWHU
RURWKHUODZ RU LL HQWHULQWRRUQHJRWLDWHDVLPLODUDJUHHPHQWRUDQ\RWKHUSURSRVDOVZLWK
DQ\SDUW\RWKHUWKDQWKH'HYHORSHUWRGHYHORSWKH$XWKRULW\3URSHUW\
6HFWLRQ3UHVHQW,QWHQWRI3DUWLHV7KHSDUWLHVLQWHQGWKLV$JUHHPHQWWRGRFXPHQWWKHLU
SUHVHQWXQGHUVWDQGLQJDQGFRPPLWPHQWVDQGIXUWKHUWKDWLIWKHIROORZLQJFRQGLWLRQVDUHIXOILOOHG
WRWKHPXWXDOVDWLVIDFWLRQRIWKH$XWKRULW\DQG'HYHORSHUWKHSDUWLHVZLOOSURFHHGLQDQDWWHPSWWR
IRUPXODWHDPXWXDOO\VDWLVIDFWRU\3XUFKDVH$JUHHPHQWIRUWKH$XWKRULW\3URSHUW\
D WKH'HYHORSHUGHPRQVWUDWHVWKHIHDVLELOLW\RIWKH'HYHORSPHQWDVUHILQHGSXUVXDQW
WRWKLV$JUHHPHQW
E WKHFRPSOHWLRQRIDOOXQGHUWDNLQJVUHTXLUHGE\WKLV$JUHHPHQWLQDVDWLVIDFWRU\DQG
WLPHO\PDQQHU
F WKHVDWLVIDFWLRQRIVXFKRWKHUFRQGLWLRQVDVDUH GHWHUPLQHGWREHDSSURSULDWHE\
HLWKHUSDUW\ DQG
G WKH 'HYHORSPHQW LV JHQHUDOO\ FRQVLVWHQW ZLWK WKH SURSRVDO VXEPLWWHG WR WKH
$XWKRULW\¶V%RDUGRI&RPPLVVLRQHUVRQ2FWREHU
7KH &RQWUDFWV WRJHWKHU ZLWK DQ\ RWKHU DJUHHPHQWV HQWHUHG LQWREHWZHHQ WKH SDUWLHV KHUHWR
FRQWHPSRUDQHRXVO\WKHUHZLWK ZKHQH[HFXWHGZLOOVXSHUVHGHDOOXQGHUVWDQGLQJVDQGREOLJDWLRQV
RIWKHSDUWLHVKHUHXQGHU
6HFWLRQ'HYHORSPHQW'HVLJQ7KH'HYHORSHU¶VFRQFHSWIRUWKH'HYHORSPHQWRQWKH
'HYHORSPHQW3URSHUW\LVSUHOLPLQDU\LQQDWXUHDQGPXVWEHUHILQHGEHIRUHLPSOHPHQWDWLRQ7KH
FRQFHSWDVSURSRVHGLQYROYHVWKHFUHDWLRQRIDILQDOSODWFRQVWUXFWLRQRIVLQJOHIDPLO\KRPHV
ZLWKUHODWHGSXEOLFLQIUDVWUXFWXUHLPSURYHPHQWVLQFOXGLQJXWLOLWLHVQHZURDGVDQGVWRUPZDWHU
SRQGLQJLPSURYHPHQWV
6HFWLRQ 'HYHORSHU8QGHUWDNLQJV'XULQJWKHWHUPRIWKLV$JUHHPHQWWKH'HYHORSHU
VKDOOGRWKHIROORZLQJ
D &RQWLQXHWRUHILQHLWVVLWHDQGEXLOGLQJSODQVIRUWKH'HYHORSPHQW
E 8QGHUWDNHSUHOLPLQDU\HQJLQHHULQJVRLOWHVWLQJERULQJVDQGJHRWHFKQLFDODQDO\VLV
RIWKH'HYHORSPHQW3URSHUW\)RUWKLVSXUSRVHWKH'HYHORSHUDQGLWVFRQWUDFWRUV
Y7-*%5
VKDOOKDYHWKHULJKWWRHQWHUXSRQWKH$XWKRULW\3URSHUW\DWUHDVRQDEOHWLPHVDQG
DIWHUQRWLFHWRWKH$XWKRULW\7KH'HYHORSHUVKDOOLQGHPQLI\GHIHQGDQGKROGWKH
$XWKRULW\KDUPOHVVIURPDQGDJDLQVWDQ\FODLPVRUGDPDJHRIZKDWVRHYHUQDWXUH
DULVLQJRXWRIWKHHQWU\RQWRWKH$XWKRULW\3URSHUW\DQGVKDOOUHSDLUDQ\GDPDJH
FDXVHGWRWKH$XWKRULW\3URSHUW\7KLVREOLJDWLRQVKDOOVXUYLYHWHUPLQDWLRQRIWKH
$JUHHPHQW
F 6XEPLW WR WKH $XWKRULW\ D SURSRVHG VFKHGXOH IRU WKH XQGHUWDNLQJ RI WKH
'HYHORSPHQWLQFOXGLQJWLPLQJRIWKHFORVLQJDQGFRPPHQFHPHQWDQGFRPSOHWLRQ
RIFRQVWUXFWLRQDFWLYLWLHV
G 8VLQJWLWOHLQIRUPDWLRQDQGDVXUYH\SURYLGHGE\WKH$XWKRULW\XSGDWHHYLGHQFHRI
WLWOHWRWKH$XWKRULW\3URSHUW\DQGSURYLGHWRWKH$XWKRULW\DQ\REMHFWLRQVWRWLWOH
H 6HHNWRVHFXUHDFRPPLWPHQWIRUILQDQFLQJVXIILFLHQWIRUFRQVWUXFWLRQRIWKHSXEOLF
LQIUDVWUXFWXUHLPSURYHPHQWV
I 2EWDLQHQYLURQPHQWDOUHSRUWVDQGVWXGLHVSURYLGHGE\WKH$XWKRULW\DQGVXFKRWKHU
VWXGLHV DQG WHVWLQJ GHHPHG QHFHVVDU\ WR GHWHUPLQH WKH DFFHSWDELOLW\ RI WKH
HQYLURQPHQWDOFRQGLWLRQRIWKH$XWKRULW\3URSHUW\DQGDQ\$GGLWLRQDO3URSHUW\
J ,GHQWLI\ WKH $GGLWLRQDO 3URSHUW\ WR EH DFTXLUHG WR XQGHUWDNH DQG FRPSOHWH WKH
'HYHORSPHQWDQGZRUNWRVHFXUHRSWLRQVRUSXUFKDVHDJUHHPHQWVZLWKWKHRZQHUV
RIVXFKSURSHUW\
K 3UHSDUHVXEPLWDSSOLFDWLRQDQGUHFHLYHDOOQHFHVVDU\&LW\DSSURYDOVUHODWHGWRWKH
VXEGLYLVLRQDQGGHYHORSPHQWRIWKH'HYHORSPHQW3URSHUW\
L 0DNHDOOUHTXLUHGSUHVHQWDWLRQVWRWKH&LW\&RXQFLORIWKH&LW\WKH$XWKRULW\¶V
%RDUGRI&RPPLVVLRQHUVDQGWKH&LW\3ODQQLQJ&RPPLVVLRQLQFRQQHFWLRQZLWK
VHHNLQJDSSURYDOVIRUWKH'HYHORSPHQW
$OORIWKHLQIRUPDWLRQGHVFULEHGDERYHVKDOOEHSUHSDUHGRUFROOHFWHGDWWKHVROHH[SHQVHRI
WKH'HYHORSHU7KH'HYHORSHUVKDOOKDYHQRREOLJDWLRQWRSURYLGHWKH$XWKRULW\RU&LW\DQ\
UHSRUWVWHVWVDQDO\VHVRUDQ\RWKHUGXHGLOLJHQFHLWKDVSUHSDUHGLQWHUQDOO\RUREWDLQHGIURPDQ\
WKLUGSDUW\H[FHSWDVVSHFLILFDOO\SURYLGHGKHUHLQ
6HFWLRQ$XWKRULW\8QGHUWDNLQJV'XULQJWKHWHUPRIWKLV$JUHHPHQWWKH$XWKRULW\ZLOO
XQGHUWDNHWKHIROORZLQJ
D &RRUGLQDWH DQ\ QHFHVVDU\ PHHWLQJV ZLWK WKH $XWKRULW\ &LW\ &RXQFLO 3ODQQLQJ
&RPPLVVLRQDQGWKHFRPPXQLW\
E $VVLVW LQ LGHQWLI\LQJ SXEOLF LPSURYHPHQWV QHFHVVDU\ WR EH FRQVWUXFWHG LQ
FRQQHFWLRQ ZLWK WKH 'HYHORSPHQW LQFOXGLQJ EXW QRW OLPLWHG WRXWLOLWLHV QHZ
URDGZD\VDQGVWRUPZDWHUSRQGLQJ
Y7-*%5
F ,GHQWLI\FRQVWUXFWLRQSHUPLWDSSOLFDWLRQXWLOLW\DQGDQ\RWKHUIHHVDQGWKHDPRXQW
RIVXFKIHHVWKDWWKH'HYHORSHUPD\EHH[SHFWHGWRSD\LQFRQQHFWLRQZLWKWKH
'HYHORSPHQW
G ,GHQWLI\WKHDSSURYDOSURFHVVDQGWLPHIUDPHVIRUGHYHORSPHQWDSSURYDOVWKDWPD\
EHH[SHFWHGIRUWKH'HYHORSPHQW
H 3URYLGH WR WKH 'HYHORSHU DQ\ WLWOH LQIRUPDWLRQ DQG DQ\ WKLUG SDUW\ UHSRUWV WKH
$XWKRULW\KDVRQKDQGUHJDUGLQJWKH$XWKRULW\3URSHUW\
I 3URYLGH WR WKH 'HYHORSHU DQ\ VXUYH\V DQG HQYLURQPHQWDO UHSRUWVUHODWHG WR WKH
$XWKRULW\3URSHUW\WKDWDUHLQWKHSRVVHVVLRQRIWKH$XWKRULW\7KH$XWKRULW\ZLOO
DWWKH'HYHORSHU¶VH[SHQVHFRRSHUDWHZLWKWKH'HYHORSHULQSXUVXLQJDQ\IHGHUDO
RU6WDWHHQYLURQPHQWDODSSURYDOVSHUPLWVSURJUDPHQUROOPHQWVRUGHWHUPLQDWLRQV
UHTXHVWHGE\WKH'HYHORSHUZLWKUHVSHFWWRWKH$XWKRULW\3URSHUW\
J 1RWZLWKVWDQGLQJDQ\SURYLVLRQVRUXQGHUVWDQGLQJWRWKHFRQWUDU\QHLWKHUWKH&LW\
QRUWKH$XWKRULW\ZLOOH[HUFLVHLWVFRQGHPQDWLRQSRZHUVWRDFTXLUHDQ\DGGLWLRQDO
SURSHUW\RURWKHUUHDOSURSHUW\LQFRQQHFWLRQZLWKWKH'HYHORSPHQW
6HFWLRQ&RQWLQJHQFLHV7KHSDUWLHVDFNQRZOHGJHDQGDJUHHWKDWSURFHHGLQJZLWKWKH
'HYHORSPHQWLVVXEMHFWWRDQXPEHURIFRQWLQJHQFLHVLQFOXGLQJEXWQRWOLPLWHGWRWKHIROORZLQJ
D 7KHDFTXLVLWLRQRIDOORUSDUWRIWKH'HYHORSPHQW3URSHUW\E\GLUHFWSXUFKDVHRQ
VXFKWHUPVDQGFRQGLWLRQVDVDUHDFFHSWDEOHWRERWKSDUWLHV
E 7KH DFFHSWDQFH E\ WKH 'HYHORSHU RI LWV HQYLURQPHQWDODQG JHRWHFKQLFDO
DVVHVVPHQWVDQGDOORWKHUHQYLURQPHQWDODQGZHWODQGUHSRUWVDQGVXUYH\VFHUWLILHG
WR WKH 'HYHORSHU DQG LWV OHQGHU GHHPHG QHFHVVDU\ E\ WKH $XWKRULW\ DQG WKH
'HYHORSHUIRUDOORIWKHSURSHUW\WREHHQFRPSDVVHGE\WKH'HYHORSPHQWZKLFK
UHSRUWVDQGVXUYH\VPXVWEHVDWLVIDFWRU\WRWKH$XWKRULW\DQGWKH'HYHORSHU
F 7KH$XWKRULW\DQGWKH'HYHORSHUKDYLQJREWDLQHGDOOQHFHVVDU\DSSURYDOVIRUWKH
'HYHORSPHQW IURP DOO DSSURSULDWH JRYHUQPHQWDO DXWKRULWLHV LQFOXGLQJ EXW QRW
OLPLWHGWRDQ\QHFHVVDU\ZDWHUVKHGGLVWULFWDSSURYDOV
G 7KH 'HYHORSHU KDYLQJ REWDLQHG VXFK ODQG XVH DSSURYDOV IURP WKH &LW\ DV LV
QHFHVVDU\WRDOORZWKH'HYHORSPHQWWRPRYHIRUZDUG
H 7LWOH WR WKH $XWKRULW\3URSHUW\ DQG DQ\ $GGLWLRQDO 3URSHUW\ KDYLQJ EHHQ IRXQG
DFFHSWDEOHWRWKH'HYHORSHULQLWVVROHGLVFUHWLRQ
I 7KH'HYHORSHUKDYLQJFRQGXFWHGVXFKVRLOVZHOOHQJLQHHULQJKD]DUGRXVZDVWH
HQYLURQPHQWDODQGRWKHUWHVWLQJDVLWGHWHUPLQHVQHFHVVDU\
Y7-*%5
J 7KH 'HYHORSHU KDYLQJ REWDLQHG ILQDQFLQJ IRU DW D PLQLPXP WKH SXEOLF
LQIUDVWUXFWXUH LPSURYHPHQWV DFFHSWDEOH WR 'HYHORSHU DQG VDWLVIDFWRU\ WR WKH
$XWKRULW\
6HFWLRQ1HJRWLDWLRQRI&RQWUDFWV'XULQJWKHWHUPRIWKLV$JUHHPHQWWKH$XWKRULW\DQG
WKH'HYHORSHUVKDOOSURFHHGZLWKWKHQHJRWLDWLRQRI&RQWUDFWVUHODWLYHWRWKH'HYHORSPHQW7KH
GHFLVLRQWRHQWHULQWRWKH&RQWUDFWVVKDOOEHLQWKHVROHGLVFUHWLRQRIHDFKRIWKHSDUWLHV,ISULRUWR
H[HFXWLRQRIWKH&RQWUDFWVHLWKHUSDUW\GHWHUPLQHVLQLWVVROHGLVFUHWLRQWKDWLWLVQRWLQLWVEHVW
LQWHUHVWIRUZKDWHYHUUHDVRQWRSURFHHGZLWKWKH'HYHORSPHQWRUWKH&RQWUDFWVLWVKDOOVRQRWLI\
WKHRWKHUSDUW\ZKHUHXSRQWKLV$JUHHPHQWVKDOOWHUPLQDWHDQGQHLWKHUSDUW\VKDOOKDYHDQ\ULJKWV
RUREOLJDWLRQVWRWKHRWKHURUWRDQ\WKLUGSDUW\XQGHURUZLWKUHVSHFWWRWKLV$JUHHPHQWH[FHSWDV
SURYLGHG LQ 6HFWLRQ UHJDUGLQJ $XWKRULW\ FRVWV LQFXUUHG SULRUWR VXFK WHUPLQDWLRQ ,I WKH
'HYHORSHUGHWHUPLQHVGXULQJWKHWHUPRIWKLV$JUHHPHQWWKDWXQGHUWDNLQJWKH'HYHORSPHQWLVQRW
ILQDQFLDOO\IHDVLEOHLWZLOOSURPSWO\QRWLI\WKH$XWKRULW\RIVXFKGHWHUPLQDWLRQDQGWKHSDUWLHV
ZLOOWHUPLQDWHWKLV$JUHHPHQW
6HFWLRQ(IIHFWRI$SSURYDOV1RDSSURYDOJLYHQE\WKH$XWKRULW\ KHUHXQGHURULQ
FRQQHFWLRQ KHUHZLWK VKDOO EH GHHPHG WR FRQVWLWXWH DQ DSSURYDO RI WKH 'HYHORSPHQW IRU DQ\
SXUSRVHRWKHUWKDQDVVWDWHGKHUHLQDQGWKHSURFHVVRXWOLQHGLQWKLV$JUHHPHQWVKDOOQRWEH
GHHPHGWRVXSHUVHGHDQ\FRQFHSWUHYLHZFRQGLWLRQDOXVHSHUPLWYDFDWLRQVXEGLYLVLRQRURWKHU
]RQLQJRUSODQQLQJDSSURYDOSURFHVVRIWKH$XWKRULW\RUWKH&LW\UHODWLYHWRWKHGHYHORSPHQWRI
UHDOHVWDWH
6HFWLRQ 3D\PHQW RI &RVWV %RWK 3DUWLHV DUH DZDUH RI DQG DFNQRZOHGJH WKDW
FRQWLQJHQFLHV DQG XQNQRZQV SUHVHQWO\ H[LVW DQ\ RQH RU PRUH RIZKLFK FRXOG PDNH WKH
'HYHORSPHQWFRVWSURKLELWLYHDQGWKDWERWKSDUWLHVDUHH[SHQGLQJVXPVRIPRQH\DQGWLPHZLWK
IXOONQRZOHGJHRIWKHULVNVLQYROYHGDQGWKDWQHLWKHUSDUW\VKDOOEHOLDEOHIRUDQ\RIWKHRWKHU
SDUW\¶VH[SHQVHVLQDQ\HYHQWH[FHSW L DVRWKHUZLVHSURYLGHGSXUVXDQWWRDVHSDUDWHDJUHHPHQW
EHWZHHQWKHSDUWLHV LL LQFRQQHFWLRQZLWKDQDSSOLFDWLRQIRUD3XEOLF6XEVLG\RU LLL SXUVXDQW
WRUHTXLUHGIHHVRUFRVWVUHODWHGWRDSSOLFDWLRQVPDGHWRWKH&LW\RUXQGHU&LW\&RGH
6HFWLRQ0RGLILFDWLRQV7KLV$JUHHPHQWPD\EHPRGLILHGDQGWKHWHUPKHUHRIPD\EH
H[WHQGHG RQO\ WKURXJK ZULWWHQ DPHQGPHQWV KHUHWR VLJQHG E\ ERWKRI WKH SDUWLHV WR WKLV
$JUHHPHQW
6HFWLRQ([FOXVLYH5LJKWV,QFRQVLGHUDWLRQRIWKHWLPHHIIRUWDQGH[SHQVHVWREH
LQFXUUHGE\'HYHORSHULQSXUVXLQJWKHXQGHUWDNLQJVVHWIRUWKKHUHLQDQGLQIXUWKHUFRQVLGHUDWLRQ
RIWKHIXQGVSDLGWRWKH$XWKRULW\WKHUHFHLSWRIZKLFKLVKHUHE\DFNQRZOHGJHGWKH$XWKRULW\
KHUHE\DJUHHVWKDWIRUWKHWHUPRIWKLV$JUHHPHQWLWZLOOQRWSURYLGHRUHQWHULQWRDQDJUHHPHQW
ZLWK DQ\ WKLUG SDUW\ LQ FRQQHFWLRQ ZLWK DQ\ SURSRVHG GHYHORSPHQW RI WKH $XWKRULW\
3URSHUW\'XULQJVXFKSHULRGWKH'HYHORSHUVKDOOKDYHWKHH[FOXVLYHULJKWWRZRUNZLWKWKH
$XWKRULW\ LQ HVWDEOLVKLQJ GHILQLWLYH &RQWUDFWV IRU WKH 'HYHORSPHQW 3URSHUW\ 6DLG H[FOXVLYH
ULJKWVVKDOOFRQWLQXHXQOHVVHDUOLHUWHUPLQDWHGDVSURYLGHGKHUHLQIRUWKHSHULRGGHVFULEHGZLWKLQ
6HFWLRQRIWKLV$JUHHPHQW
Y7-*%5
6HFWLRQ7HUPDQG7HUPLQDWLRQ7KLV$JUHHPHQWVKDOOEHHIIHFWLYHDVRIWKHGDWHILUVW
ZULWWHQDERYHDQGVKDOOFRQWLQXHXQWLO$SULO XQOHVVWHUPLQDWHGHDUOLHULQDFFRUGDQFHZLWK
6HFWLRQ,IIRUDQ\UHDVRQWKH&RQWUDFWVKDYHQRWEHHQHQWHUHGLQWRE\WKHSDUWLHVE\VXFKGDWH
RUDQ\PXWXDOO\DSSURYHGH[WHQVLRQWKHUHRIWKLV$JUHHPHQWVKDOOEHQXOODQGYRLGDQGQHLWKHU
SDUW\ VKDOO KDYH DQ\ OLDELOLW\ RU REOLJDWLRQV WR WKH RWKHU H[FHSW DV SURYLGHG LQ 6HFWLRQ
UHJDUGLQJ$XWKRULW\FRVWVLQFXUUHGSULRUWRWKHWHUPLQDWLRQRIWKLV$JUHHPHQW
6HFWLRQ6HYHUDELOLW\,IDQ\SRUWLRQRIWKLV$JUHHPHQWLVKHOGLQYDOLGE\DFRXUWRI
FRPSHWHQWMXULVGLFWLRQVXFKGHFLVLRQVKDOOQRWDIIHFWWKHYDOLGLW\RIDQ\UHPDLQLQJSRUWLRQRIWKLV
$JUHHPHQW
6HFWLRQ1RWLFHV1RWLFHGHPDQGRURWKHUFRPPXQLFDWLRQIURPRQHSDUW\WRWKHRWKHU
VKDOOEHGHHPHGHIIHFWLYHLIVHQWE\FHUWLILHGPDLOSRVWDJHSUHSDLGUHWXUQUHFHLSWUHTXHVWHGRU
GHOLYHUHGSHUVRQDOO\WRDSDUW\DWLWVDGGUHVVLQWKHILUVWSDUDJUDSKRIWKLV$JUHHPHQWRUDWVXFK
RWKHUDGGUHVVDVVXFKSDUW\PD\GHVLJQDWHLQZULWLQJWRWKHRWKHUSDUW\
,1:,71(66:+(5(2)WKH$XWKRULW\KDVFDXVHGWKLV$JUHHPHQWWREHGXO\H[HFXWHG
LQLWVQDPHDQGEHKDOIDQGWKH'HYHORSHUKDVFDXVHGWKLV$JUHHPHQWWREHGXO\H[HFXWHGLQLWV
QDPHDQGEHKDOIRQRUDVRIWKHGDWHILUVWDERYHZULWWHQ
(&2120,& '(9(/230(17 $87+25,7<
2)%522./<1&(17(50,11(627$
%\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
,WV3UHVLGHQW
%\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
,WV([HFXWLYH'LUHFWRU
&HQWUD+RPHV//&
%\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
,WVBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
Y7-*%5
(;+,%,7$
/HJDO'HVFULSWLRQRIWKH$XWKRULW\3URSHUW\
! "
!
# $
% &
'"(
)
* +,#!
-./
#
,
,
&!
/
% 0 #
! " #$%&'
' $&(')*
+,(-.'
//$(-
' 0&&$'
1!#2 $'
$
#
(-0!
('$'0
''
'!
$2$'0
''
'/#*'