052708 EDA
CITY OF NEW HOPE
EDA MEETING
City Hall, 4401 Xylon Avenue North
May 27, 2008
EDA Meeting will commence upon
adjournment of the City Council Meeting
President Martin Opem Sr.
Commissioner John Elder
Commissioner Andy Hoffe
Commissioner Karen Nolte
Commissioner Daniel Stauner
1. Call to order
2. Roll call
3. Approval of regular meeting minutes of April 28, 2008
4. Resolution approving BCD Holdings, LLC/Holiday Stationstore loan documents for
the redevelopment of 7180 42nd Avenue North (improvement project no. 844)
5. Resolution awarding demolition contract for the Bass Lake Road Apartment complex
(improvement project no. 836)
6. Adjournment
EDA Minutes
Regular Meeting
CALL TO ORDER
ROLL CALL
APPROVE MINUTES
IMP. PROJECT 836
Item 4:
EDA Meeting
Page 1
CITY OF NEW HOPE
4401 XYLON AVENUE NORTH
NEW HOPE, MINNESOTA 55428
April 28, 2008
Ci ty Hall
President Opem called the meeting of the Economic Development Authority
to order at 8:55 p.m.
Present:
Martin Opem Sr., President
Andy Hoffe, Commissioner
Karen Nolte, Commissioner
Daniel Stauner, Commissioner
Staff Present:
Kirk McDonald, City Manager
Shari French, Director of Parks & Recreation
Curtis Jacobsen, Director of Community Development
Guy Johnson, Director of Public Works
Valerie Leone, City Clerk
Steve Sondrall, City Attorney
Eric Weiss, Community Development Assistant
Motion was made by Commissioner Nolte, seconded by Commissioner Hoffe,
to approve the Regular Meeting Minutes of March 24, 2008. All present
voted in favor. Motion carried.
President Opem introduced for discussion Item 4, Resolutions associated with
the acquisition and financing mechanisms available to the Council/ED A for
the acquisition of the Bass Lake Road Apartment complex (improvement
project no. 836).
Mr. Kirk McDonald, city 111anager, requested the EDA to consider adopting
four resolutions related to the acquisition and financing options for the Bass
Lake Road Apartment complex. He stated Jim Casserly of Krass Monroe is
available if the EDA has questions.
Mr. Jim Casserly, Krass Monroe, stated the adoption of the various resolutions
will preserve the city's options on financing mechanisms. He stated the
interest rate is set by statute but the city can make adjustments annually.
Commissioner Hoffe asked for confirmation that the city has a three-year
Ivindow to take action. I\1r. Casserly stated if the EDA adopts the resolutions,
the EDA 'will have the option to include the parcels in a tax inQ"ement district
within three years from the date of building demolition.
President Opem expressed support for the resolutions in order to retain all
viable options.
April 28, 2008
EDA RESOLUTION
08-04
Item 4
EDA RESOLUTION
08-05
Item 4
EDA RESOLUTION
08-06
Item 4
EDA RESOLUTION
08-07
Item 4
IMP.
842
Item 5
EDA Meeting
Page 2
Commissioner Nolte introduced the following resolution and moved its
adoption: "RESOLUTION ACCEPTING ASSIGNMENT OF THE BASS
LAKE ROAD APARTMENT COMPLEX PURCHASE AGREEMENT FROM
THE CITY OF NEW HOPE." The motion for the adoption of the foregoing
resolution was seconded by Commissioner Hoffe, and upon vote being taken
thereon, the following voted in favor thereof: Opem, Hoffe, Nolte, Stauner;
and the following voted against the same: None; Abstained: None; Absent:
None; whereupon the resolution was declared duly passed and adopted,
signed by the president which was attested to by the executive director.
Commissioner Nolte introduced the follmving resolution and moved its
adoption: "RESOLUTION DETER-MINING THAT FIVE PARCELS OF
LAND ARE OCCUPIED BY STRUCTURALLY SUBSTANDARD
BUILDINGS." The motion for the adoption of the foregoing resolution was
seconded by Commissioner Hoffe, and upon vote being taken thereon, the
following voted in favor thereof: Opem, Hoffe, Nolte, Stauner; and the
following voted against the same: None; Abstained: None; Absent: None;
whereupon the resolution was declared duly passed and adopted, signed by
the president ,vhich was attested to by the executive director.
Commissioner Nolte introduced the following resolution and moved its
adoption: "RESOLUTION DECLARING THE OFFICIAL INTENT OF THE
NEW HOPE ECONOMIC DEVELOPMENT AUTHORITY TO REIMBURSE
CERTAIN EXPENDITURES FROM THE PROCEEDS OF BONDS TO BE
ISSUED BY THE ECONOMIC DEVELOPMENT AUTHORITY." The
motion for the adoption of the foregoing resolution was seconded by
Commissioner Hoffe, and upon vote being taken thereon, the following voted
in favor thereof: Opem, Hoffe, Nolte, Stauner; and the following voted against
the same: None; Abstained: None; Absent: None; '''''hereupon the resolution
was declared duly passed and adopted, signed by the president which was
attested to by the executive director.
Commissioner Nolte introduced the following resolution and moved its
adoption: "RESOLUTION APPROVING INTERPUND LOANS
ASSOCIATED WITH LtH: PROPOSED AND
REDEVELOPMENT OF THE BASS LAKE ROAD APARTMENTS
REDEVELOPMENT ." The motion for the adoption of the
foregoing resolution was seconded by Commissioner Hoffe, and upon vote
being taken thereon, the following voted in favor thereof: Opem, Hoffe, Nolte,
Stauner; and the following voted against the same: None; Abstained: None;
Absent: None; whereupon the resolution was declared duly passed and
adopted, signed by the president \vhich was attested to by the executive
director.
President Opem introduced for discussion Item 5, Brief update on the
center project (improvement project no. 842).
Mr. Curtis Jacobsen, director of community development, reported on the
milestones that have been met to date:
February 15 - TIF District Qualification Summary
February 25 - Staff blight analysis Phase lA
April 28, 2008
ADJOURNMENT
EDA Meeting
Page 3
March 7 - Staff blight analysis Phase IE
March 24 - TIF Revenue Analysis for Phase lA
April 14 - LHB and inspection staff met regarding probability
analysis
April 21 - TIP Revenue Analysis for Phase IE
Multiple meetings - behveen developer and school district and other
affected parties regarding the costs to acquire and relocate their
operations.
Mr. Jacobsen explained that staff would provide the EDA with a more
detailed analysis near the end of May.
Mr. Mark Schoening, Ryan Companies, was recognized. He reported that the
interim agreement has been a useful tool and they have met all requirements
so far. He indicated he is cautiously optimistic regarding the project and has
been encouraged by the participation of several parties. Mr. Schoening
concurred with Mr. Jacobsen that a more thorough update would be
presented to the EDA at the May 27 meeting. He indicated at that time he
should be able to make a recommendation on whether to proceed with the
next step.
Mr. McDonald informed the EDA that staff would attempt to provide
information to the EDA as early as possible.
Motion was made by Commissioner Nolte, seconded by Commissioner
Stauner, to adjourn the meeting. All present voted in favor. Motion carried.
The New Hope EDA adjourned at 9:10 p.m.
Respectfully submitted,
.Jl /J
h-LtJu~~
Valerie Leone, City Clerk
April 28, 2008
EDA
Request for Action
Originating Deparhnent
Approved for Agenda
Agenda Section
Community Development
May 27, 2008
EDA
Item No.
4
By: Curtis Jacobsen, Director of CD By:
Kirk McDonald, City Manager
Resolution approving BCD Holdings, LLC/Holiday Station loan documents for the redevelopment of 7180
42nd Avenue North (im rovement ro'ectno.844)
Requested Action
Staff requests the EDA approve the resolution and loan documents for the $60,000 business loan to BCD
Holdings, LLC/Holiday Station, Chuck Durand, O,-^i-ner.
Policy/Past Practice
One of the city's strategic goals is that the city will encourage maintenance, redevelopment and reinveshnent
of existing properties to improve or enhance its tax base. As a past practice the city has offered various forms
of business subsidy loans to assist businesses on a case by case basis.
Background
On February 25, the Council authorized staff and the city attorney to begin working \"lith BCD Holdings, LLC
to draft the appropriate loan documents for a $60,000 business loan for the redevelopment of 7180 42nd
Avenue North. Initially, BCD Holdings, LLC had requested tax increment financing assistance for their
proposed redevelopment of 7180 42nd Avenue North. The Council was not supportive of using TIF for this
commercial venture. The applicant next proposed a loan from the city. TI,e Council after deliberation was
supportive of that financial assistance vehicle. The attached documents "were drafted by the attorney for BCD
Holdings and reviewed by the city attorney.
TI,e city attorney states that the documents provided are acceptable, but raises the follo,ving issues in his
correspondence:
o The city's willingness to subordinate its loan to other future loans.
€I TI,e need for BCD Holdings to provide evidence of fee ovvnership.
@ TIl.e need for BCD Holdings to provide proof of their equity in collateral property.
€' Shall the city require Chuck Durand to personally guarantee the loan?
G TI,e date the city intends to nmd the loan.
Motion by
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Second bv
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To:
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I:\RFA \PLANNING\PLANNli\JG\Q & R - Holiday loan 5-27-08.doc
Request for Action
May 27, 2008
Page 2
The city attorney's concerns have been incorporated as conditions of approval as follows:
1. The loan will be for a maximum of ten (10) years.
2. The loan will bear an interest rate of three (3) percent.
3. The loan amount will be $60,000.00.
4. Prepayment of the loan is encouraged.
5. The loan will not be subordinate to any loans dated after the date of this loan.
6. BCD Holdings, LLC shall provide evidence of fee o"vnership.
7. BCD Holdings, LLC shall provide evidence of current equity.
8. Mr. Chuck Durand shall personally guarantee the loan.
9. The loan shall be funded no earlier than June 18, 2008.
10. The loan documents shall be updated to reflect all of the preceding conditions.
Recommendation
Staff recommends the EDA approve the resolution as presented.
Attachments
<1> City attorney letter - 5-21-08
e Mortgage Deed
<1> Mortgage subordination Agreement
<1> Term Promissory Note
<1> Loan Calculator
Resolution No 2008-
Resolution approving BCD Holdings. LLC
Holiday Station loan documents for the redevelopment of 7180 42nd Avenue North
(improvement project no. 844)
WHEREAS, BCD Holdings, LLC, has requested a business loan to assist in the
redevelopment of the property at 7180 42nd Avenue North; and
WHEREAS, the EDA has reviewed the assistance request and are in general agreement; and
WHEREAS, the loan request is for sixty thousand dollars ($60,000), with a term of ten (10)
years and an interest rate of three (3) percent.
NOW, THEREFORE BE IT RESOLVED by the EDA of the city of New Hope, to provide a
business assistance loan to BCD Holdings, LLC under the following terms and
provided they meet the following conditions:
6. The loan will be for a maximum of ten (10) years.
7. The loan will bear an interest rate of three (3) percent.
8. TI1e loan amount ,vill be $60,000.00.
9. Prepayment or the loan is encouraged.
10. The loan will not be subordinate to any loans dated after the date of this
loan.
6. BCD Holdings, LLC shall provide evidence of fee ovvnership.
7. BCD Holdings, LLC shall provide evidence of current equity.
8. Mr. Chuck Durand shall personally guarantee the loan.
9. The loan shall be funded no earlier than June 18, 2008.
10. The loan documents shall be updated to reflect all or the preceding
conditions.
Approved by the EDA of the city of New Hope, Hennepin COlmty, Mill11esota, this 27th day of
May, 2008.
President
ATTEST:
Executive Director
HOLIDAY
STATIONSTORE
IMP. PROJECT 844
Item 4
MOTION
Item 4
Excerpt of the February 25, 2008, EDA Minutes
President Opem introduced for discussion Item 4, Motion to authorize staff
and city attorney to proceed with drafting a loan agreement for a Holiday
StationStore at 7180 42nd Avenue North, ECD Holdings, LLC applicant.
Mr. Kirk McDonald, executive director, explained that the applicant could not
be in attendance tonight. He stated the Council originally discussed the
developer's request for tax increment financing assistance at the February 11
council meeting. Subsequently the mayor and staff met with the developer on
February 12 to discuss other funding options such as a business loan. At the
February 19 work session the Council expressed general support of the
developer's modified request for a $60,000 low interest loan.
Mr. McDonald stated the request is for a $60,000 low interest loan at three
percent interest with a ten year amortization and payments starting 18
months after project completion. He stated funding of the business loan
would be provided through EDA reserves. Mr. McDonald stated as
recommended by Council, staff will perform appropriate due diligence and a
thorough review of the project pro-forma. Mr. McDonald stated if the EDA is
agreeable the next step is to authorize staff and the city attorney to draft the
appropriate loan documents.
President Opem stated three percent is the current prime rate. He pointed out
that based on the increased property value the city would net an additional
$150,000 in taxes over the next 25 years. The EDA commented on their
preference for a business loan rather than tax increment financing to enable
the development of the property.
Motion \vas made by Comm.issioner Stauner, seconded by Commissioner
Nolte, authorizing staff a.l1d city attorney to proceed with drafting a loan
agreement for a Holiday StationS tore at 7180 42nd Avenue North, BCD
Holdings, LLC Voting in favor: Opem, Hoffe, Nolte, Stauner;
Voting against: None; Absent: Sommer; Abstained: None. Motion carried.
LESLIE A. Ac"lDERSON
TUCKER J. HUMMEL
GORDON L. JENSEN'
MELANIE P. PERSELLIN'"'
STEPHEN M. RINGQUIST'
STEVEN A. SONDR-\.LL
;Re~l Propeny Ll\V
Specialist Certified By
The M innesoUl State
Bar Association
'Licensed in Illinois/Colorado
'Qualified Neutral Mediator
lInder Rule 114
JENSEN ANDERSON SONDRALL~ P.A.
Attorneys At Law
8525 EDINBROOK CROSSING, STE. 201
BROOKLYN PARK, MINNESOTA 55443-1968
TELEPHONE (763) 424-8811 $ TELEFAX (763) 493-5193
e-mail law@jasattorneys.com
Writer's Direct Dial No.: (763) 201-0211
e-mail sas@jasattomeys.com
May 21,2008
Curtis Jacobsen
Community Development Director
City of New Hope
440 I Xylon Avenue North
New Hope, MN 55428
Re: BCD Holdings, LLC/Holiday Station
Loan Documents
Our File: 99-11343
Dear Curtis:
This letter is in follow up to the loan documents we have received from Chuck Durand in
connection with the Holiday Store development project at 42nd and Quebec. As I pointed out in my
May 20th e-mail to attorney Dan Young, the documents they have provided are acceptable with one
minor modification. Specifically, the Mortgage Subordination Agreement requires the City to
subordinate its lien to future liens against the property created after our lien. (see item 1. on page 2
of the agreement). I would recommend against this provision and require its deletion from the
agreement. I suggest we handle future subordination requests on a case by case basis as they arise.
Also, we will need title evidence that BCD Holdings is the fee owner of the mortgaged propeliy
and some documentation to indicate BCD Holdings has at least $60,000.00 of equity in the
property. Finally, \ve should still require that Chuck Durand personally guarantee the loan.
I am also questioning whether the City intends to fUl1d this loan as of June 1, 2008. I suspect we
\vouldn't be able to ful1d the loan Ul1til BCD Holdings executes the ClJP Site Agreement, provides
a financial guarantee for any public improvements required as part of this project and provides the
required title evidence and equity documentation. I doubt this can all be pulled together in four
days after the Coul1cil meeting.
Very truly yours,
Steven A. Sondrall, City Attorney,
City of New Hope
cc: Kirk McDonald
P:\A.uorne::/SAS\1 Client Fiies\2 City orNew Hope\99-1 1343(Holiday loan)\itr. C. Jacobsen re docurnents.doc
MORTGAGE DEED
THIS MORTGAGE, dated this 1st day of June, 2008, between BCD Holdings,
LLC, a Minnesota limited liability company, (hereinafter called the "Mortgagor",
regardless of whether one or more persons or entities), and the City of New Hope, a
Minnesota municipality, (hereinafter called the "Mortgagee").
WITNESSETH, that to secure the payment of Sixty Thousand and 00/100ths
Dollars ($60,000.00), with interest, according to the terms of a Term Promissory Note
bearing even date herewith, together with any renewals or extensions thereof, and all
other liabilities and indebtedness of the Mortgagor to the Mortgagee, due or to become
due, now existing or hereafter arising, the Mortgagor hereby mortgages to the
Mortgagee the tract of land lying in the County of Ramsey, State of Minnesota,
described as follows, to-wit:
See Exhibit A attached hereto and made a part hereof
(the "Premises").
1. In addition to making and including in this Mortgage the covenants and
other provisions set forth in Minnesota Statutes, Section 507.15, or any future Minnesota
Statute providing for a statutory form of real estate mortgage, the Mortgagor makes the
following covenants and agreements with the Mortgagee:
(a) The Mortgagor and Mortgagee have entered into a Mortgage
Subordination Agreement dated even date whereby Mortgagee has agreed
to subordinate its interests and liens in the Premises to any other currently
existing or those that may arise from time to time in the future. See Exhibit
8 attached hereto and made a part hereof.
(a) The Mortgagor will permit the Mortgagee, or its agents, at all
reasonable times, to enter upon and inspect the Premises.
2. The Mortgagor covenants with the Mortgagee the following statutory
covenants:
(a) To warrant title to the Premises.
(b) To pay all taxes and assessments promptly before a penalty
might attach for nonpayment thereof.
(c) To keep the buildings and other improvements now existing
or hereafter erected on the Premises insured against fire for the amounts
specified by the Mortgagee and against other hazards under the usual
extended coverage endorsement and all other hazards and risks of direct
physical loss occasioned by any cause whatsoever, subject only to the
exceptions and exclusions, if any, agreed to by the Mortgagee. The policy
or policies of such insurance shall be in a form acceptable to Mortgagee
and shall have a loss payable provision in favor of and in a form
acceptable to Mortgagee. In the event of foreclosure of this Mortgage, all
right, title and interest of the Mortgagor in and to any insurance policies
then in force shall pass to the purchaser at the foreclosure sale.
(d) That the Premises shall be kept in good repair and no waste
shall be committed.
(e) That all indebtedness secured by this Mortgage shall
become due after default in the payment of any installment of principal or
interest, at the option of the Mortgagee.
3. If default has been made in any payment or covenant herein, the
Mortgagee is hereby authorized and empowered to declare the whole amount secured
by this Mortgage due and payable. The Mortgagee shall have the authority and power
to proceed to protect and enforce its rights by suit or suits in equity or at law, either for
the specific performance of any covenant or agreement contained herein or in the
indebtedness secured by this Mortgage or for the foreclosure of this Mortgage or for the
enforcement of any other appropriate legal or equitable remedy and, in the event of
foreclosure, shall be entitled to the immediate appointment of a receiver to operate and
protect the Premises and to collect all rents during the pendency of the foreclosure, and,
in addition, the Mortgagor authorizes the Mortgagee to sell the Premises, as one tract or
othervvise, at public auction and convey the same to the purchaser and, out of the
proceeds arising from such sale, to pay all indebtedness secured hereby, with interest,
and all legal costs and charges of such foreclosure and the maximum attorney's fees
permitted by law, which costs, charges and fees the Mortgagor hereby agrees to pay.
The Mortgagor hereby expressly consents to the sale of the Premises by advertisement,
pursuant to the Minnesota Statutes, Chapter 580, which provides for sale after service
of notice thereof upon the occupant of the Premises and the publication of said notice.
Service may not be made upon the Mortgagor personally, and no hearing of any type is
required in connection with the sale. Except as required by the aforesaid statutory
provision, the Mortgagor hereby expressly waives any and ail rights to notice of sale of
the Premises and any and all rights to a hearing of any type in connection with the sale
of the Premises.
794775.1
2
4. If the Mortgagor fails to perform any of the covenants and agreements
contained in this Mortgage or if any action or proceeding is commenced which does or
may adversely affect the Premises or the interest of the Mortgagor or the Mortgagee
therein, then the Mortgagee, at Mortgagee's option, may perform such covenants and
agreements, defend against and/or instigate such action or proceeding and take such
other action as the Mortgagee deems necessary to protect the Mortgagee's interest.
Any amounts disbursed by the Mortgagee pursuant to this paragraph, including
reasonable attorneys' fees, with interest thereon, shall become additional indebtedness
of the Mortgagor secured by this Mortgage. Such amounts shall be payable upon
notice from the Mortgagee to the Mortgagor requesting payment thereof and shall bear
interest from the date of disbursement at the rate set forth in the Note which this
Mortgage secures. Nothing contained in this paragraph 4 shall require the Mortgagee
to incur any expense or do any act hereunder.
5. Any delay by the Mortgagee in exercising any right or remedy hereunder
or otherwise afforded by law or equity shall not be a waiver of or preclude the exercise
of such right or remedy or any other right or remedy hereunder or at law or equity.
6. All remedies of the Mortgagee are distinct and cumulative to any other
right or remedy under this Mortgage or afforded by law or equity and may be exercised
concurrently or independently and as often as the occasion therefor arises.
7. The covenants and agreements herein shall bind and the rights hereunder
shall inure to the successors and assigns of the Mortgagee and the heirs, personal
representatives, successors and assigns of the Mortgagor.
8. In the event any provision or clause of this mortgage conflicts with
applicable law, such conflict shall not affect other provisions of this Mortgage which can
be given effect without conflicting provisions, and, to the end, the provisions of this
Mortgage are declared to be severable.
9. The Mortgagor acknowledges and agrees that this right of inspection
allows the Mortgagee, or the Mortgagee's agents, to enter the premises at reasonable
times to conduct environmental tests to establish the presence, or absence, of
hazardous substances or pollutants upon the premises.
10. The Mortgage shall be governed by the laws of the State of Minnesota.
11. The maximum principal indebtedness secured by this Mortgage is
$60,000.00.
, the Mortgagor has duly executed this Mortgage the
day and year first above written.
BCD Holdings, LLC
(a Minnesota limited liability company)
794775.1
3
STATE OF MINNESOTA )
) SS.
COU NTY OF )
By: Charles E. Durand
Its: Chief Manager
day of
The foregoing was acknowledged before me this
20_, by , the
, on behalf of the
of
a
THIS iNSTRUMENT WAS DRAFTED BY:
MURNANE BRANDT
30 EAST SEVENTH STREET
SUITE 3200
ST. PAUL, MN 55i01~4919
Telephone: (651) 227~9411
794775.1
Notary Public
4
EXHIBIT A
LEGAL DESCRIPTION
The following described real property located in the County of Ramsey and State of
Minnesota:
Silverview Estates
Lot 1 , Block 1
794775.1
5
MORTGAGE SUBORDINATION AGREEMENT
THIS MORTGAGE SUBORDINATION AGREEMENT is entered into this 1 5t day of
June, 2008, by and between the City of New Hope (the "City") and BCD Holdings, LLC, a
Minnesota limited liability company, (the "Mortgagor").
RECITALS
1. The City has agreed to lend to Mortgagor the sum of Sixty Thousand and noli OO's
Dollars ($60,000.00) to be evidenced by a Term Promissory Note of even date
herewith in the amount of $60,000.00, executed by the Mortgagor in favor of the
City (hereinafter referred to as the "City Note"), which City Note is secured by a
Mortgage Deed of even date herewith in the amount of Sixty Thousand Dollars
($60,000.00), executed by the Mortgagor in favor of the City and filed for record on
, 2008 in the Office of the County Recorder, Ramsey
County, Minnesota as Document (hereinafter referred to
as the "City Mortgage") (hereinafter the City Note and the City Mortgage will be
collectively referred to as the "City Loan Documents"), provided that the City will
agree that the interests and lien of the City in the Property arising from the City
Loan Documents will be junior and subordinate to any interest, mortgage, or lien
that may currently exist or may arise in the future on the Property.
2. The real estate covered by the lien of the City Mortgage is located in Ramsey
County, Minnesota, and legally described as:
Silverview Estates
Lot 1 , Block 1
(hereinafter referred to as the "Property").
NOW THEREFORE, for and in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties do hereby covenant and agree as follows:
1. All of the City's right, title and interest in and to the City Mortgage shall be
subordinate and junior in all respects to any other liens or security interest currently
existing or those that may arise from time to time in the future.
2. This Agreement may not be amended or modified in any manner other than by an
Agreement in writing signed by the parties hereto.
3. This Agreement shall be governed by and construed and interpreted in accordance
with the laws of the State of Minnesota.
IN WITNESS WHEREOF, this Agreement has been duly executed as of the day
and year first written above.
CITY OF NEW HOPE
4401 Xylon Avenue
New Hope, MN 55428
By:
Its:
STATE OF MINNESOTA
ss
COUNTY OF HENNEPIN
by
Hope.
The foregoing instrument was acknowledged before me this 1 st day of June, 2008,
, the of the City of New
Notary Public
794622.1
2
BCD HOLDINGS, LLC,
a Minnesota limited liability company
By: Charles E. Durand
Its: Chief Manager
STATE OF MINNESOTA )
) ss.
COUNTY OF )
The foregoing instrument was acknowledged before me this 1 sl day of June, 2008,
by Charles E. Durand, Chief Manager of BCD Holdings, LLC, a Minnesota limited liability
company.
Notary Public
This Instrument was drafted by:
MURNANE BP~NDT
30 EAST SEVENTH STREET, SUITE 3200
ST. PAUL, MN 55101
(651) 227-9411
794622. ]
,.,
J
TERM PROMISSORY NOTE
(BCD Holdings, LLC)
Amount: $60,000.00
Interest: 3% per annum
Term: 10 years
New Hope, Minnesota
June 1,2008
FOR VALUE RECEIVED, BCD Holdings, LLC, a Minnesota limited liability
company (the "Borrower"), agrees and promises to pay to the order of City of New
Hope, a Minnesota municipality, its endorsees, successors and assigns (the "Lender"),
at, 4401 Xylon Avenue, New Hope, Minnesota 55428, or such other place as the Lender
may from time to time designate, the principal sum of Sixty Thousand and 00/100
Dollars ($60,000.00), as set forth in the Loan Agreement referenced below, together
with interest on the Principal Balance (as later defined) at the rate or rates of interest
hereinafter set forth, payable in the following manner and on all the following terms and
at the following times:
1. Definitions. For purposes of this Note, the following terms shall have the
following meanings:
a. "Business Day" shall mean any day that national banks are open for
business in New Hope, Minnesota.
b. "Loan Documents" shall mean this Note, the Mortgage, Subordination
Agreement, and any other instruments given to evidence or secure this
Note.
c. Date" shall mean June 1, 2018
HMortgage" shall mean the Mortgage Deed dated the same date as this
Note and given by the Borrower to the Lender, granting a lien on the
Property described in that Mortgage as security for this Note and granting
a security interest to the Lender.
e. "Principaj5' shall mean the sums of money from time to time disbursed by
the Lender pursuant to this Note.
, "Principal Balance" shall mean the amount of Principal remaining unpaid
fiom time to time.
"Property" shall mean the real property described in the Mortgage.
"Term" shall mean the period from the date of this Note through the
Maturity Date.
2. Interest Rate. The Principal Balance of this Note outstanding at the close
of each day shall bear interest ("Interest") at the rate of three percent (3%) per annum
("Interest Rate").
3. Basis of Computation. Interest shall be calculated by multiplying the
actual number of days elapsed in the period for which interest is being calculated by a
daily rate based on a 360-day year.
4. Late Charge. In the event that any payment required hereunder is not
paid when due, the Borrower agrees to pay a late charge ("Late Charge") of $.05 per
$1.00 of the unpaid payment to defray the costs of the Lender incident to collecting such
late payment. This late charge shall apply individually to all payments past due and
there will be no daily pro rata adjustment. This provision shall not be deemed to excuse
a late payment or be deemed a waiver of any other rights the Lender may have,
including the right to declare the entire Principal Balance and accrued interest
immediately due and payable.
5. Terms of Payment. This Note shall be payable as follows:
Commencing on June 1, 2008 Interest will accrue at a rate of 3% per
annum and beginnjng December 1, 2009, and on the first day of each and
every month thereafter until the Maturity Date, when the entire unpaid
principal balance and accrued interest thereon shall be due and payable,
monthly installments of principal and interest shall be paid, each of such
installments to be applied first to the payment of late charges, if any, then
to the payment of interest and then to the reduction of principal. The
monthly installment of principal and interest payable on December 1,
2009, and thereafter shall be Six Hundred Five and 63/100ths Dollars
($605.63). The monthly payments recited herein are based upon an
assumed amortization schedule of ten (10) years.
6. Payments. All payments shall be applied first to any
Costs of Collection, then to Late Charges, then to accrued interest and then to Principal
Balance, except that if any advance made by the Lender under the terms of any
instruments securing this I\lote is not repaid, any monies received, at the option of the
Lender, may first be applied to repay such advances, plus interest thereon, and the
balance, if any, shall be applied as above. If any payment of Principal, Interest, Late
Charge or other sum to be made hereunder becomes due and payable on a day other
than a Business Day, the due date of such payment shall be extended to the next
succeeding Business Day and interest thereon shall be payable at the applicable
interest rate during such extension. Upon a Default (as herein defined) any monies
received shall, at the option and direction of the Lender, be applied to any sums due
under this Note or any instrument securing this Note in such order and priority as the
Lender shall determine.
7. Security. This Note is the Note referred to in and secured by the
Mortgage dated the same date as this Note herewith each encumbering the Property
2
(the "Collateral").
8. Default. If (a) any payment not be made within fifteen (15) days after the
date when due in accordance with the terms and conditions of this Note (other than on
the Maturity Date when payments shall be due on such date), or (b) an Event of Default
(as defined therein) occurs under the Mortgage, (all of the above being herein singularly
and collectively referred to as a "Default"), the entire Principal Balance, together with
accrued interest thereon and Late Charges, if any, shall become immediately due and
payable at the option of the Lender hereof upon notice to the Borrower.
9. Time of Essence. Time is of the essence. No delay or omission on the
part of the Lender in exercising any right hereunder shall operate as a waiver of such
right or of any other remedy under this Note. A waiver on anyone occasion shall not be
construed as a bar to or waiver of any such right or remedy on a future occasion.
10. Costs of Collection. In the event of any default hereunder the Borrower
agrees to pay the costs of collection, including reasonable attorneys' fees and costs
incurred, all other costs and fees incurred in litigation, mediation, bankruptcy and
administrative proceedings and all appeals therefrom and all other costs and expenses
incurred in the collection of the amounts due under this Note ("Costs of Collection").
11. Waiver of Presentment, Etc. Presentment for payment, protest and
notice of non-payment are waived. Consent is given to any extension or alteration of
the time or terms of payment hereof, any renewal, any release of any part or all of the
security given for the payment hereof, any acceptance of additional security of any kind,
and any release of, or resort to any party liable for payment hereof. To the extent
permitted by law all rights and benefits of any statute of limitations, and any moratorium,
reinstatement, marshaling, forbearance, valuation, stay, extension, redemption,
appraisement, exemption and homestead laws are waived.
12. Savings Clause. It is expressly stipulated and agreed to be the intent of
the Borrower and Lender at all times to comply with applicable state law or applicable
United States federal law (to the extent that it permits Lender to contract for, charge,
take, reserve, or receive a greater amount of interest than permitted under state law)
and that this section shall control every other covenant and agreement in this Note and
any other Loan Document. If the applicable law is ever judicially interpreted so as to
render usurious any amount called for under this Note or under any other Loan
Documents, or contracted for, charged, taken, reserved, or received with respect to the
indebtedness evidenced by this Note (Hlndebtedness"), or if the Lender's exercise of
the option to accelerate the maturity of this Note, or if any prepayment by the Borrower
results in the Borrower having paid any interest in excess of that permitted by applicable
law, then it is the express intent of the Borrower and Lender that all excess amounts
theretofore collected by Lender shall be credited on the Principal Balance and all other
amounts theretofore collected by Lender shall be credited on the Principal Balance and
all other Indebtedness (or, if this Note and all other Indebtedness have been or would
thereby be paid in full, refunded to the Borrower), and the provisions of this Note and
3
the other Loan Documents shall immediately be deemed reformed and the amounts
thereafter collectible hereunder and thereunder reduced, without the necessity of the
execution of any new documents, so as to comply with the applicable law, but so as to
permit the recovery of the fullest amount otherwise called for hereunder or thereunder.
All sums paid or agreed to be paid to Lender for the use, forbearance, or detention of
the Indebtedness shall, to the extent permitted by applicable law, be amortized,
prorated, allocated, and spread throughout the full stated term of the Indebtedness until
payment in full so that the rate or amount of interest on account of the Indebtedness
does not exceed the maximum lawful rate from time to time in effect and applicable to
the Indebtedness for so long as the Indebtedness is outstanding. Notwithstanding
anything to the contrary contained herein or in any of the other Loan Documents, it is
not the intention of Lender to accelerate the maturity of any interest that has not
accrued at the time of such acceleration or to collect unearned interest at the time of
such acceleration.
13. Notices. Any notices and other communications permitted or required by
the provisions of this Note (except for telephonic notices expressly permitted) shall be in
writing and shall be deemed to have been properly given or served by depositing the
same with the United States Postal Service, or any official successor thereto,
designated as Certified Mail, Return Receipt Requested, bearing adequate postage, or
deposited with reputable private courier or overnight delivery service, and addressed as
hereinafter provided. Each such notice shall be effective three (3) days after being
deposited or delivered as aforesaid. The time period within which a response to any
such notice must be given, however, shall commence to run from the date of receipt of
the notice by the addressee thereof. Rejection or other refusal to accept or the inability
to deliver because of changed address of which no notice was given shall be deemed to
be receipt of the notice sent. By giving to the other party hereto at least ten (10) days'
notice thereof, either party hereto shall have the right from time to time to change its
address and shall have the right to specify as its address any other address within the
United States of America.
Each notice to Lender shall be addressed as follows:
City of New Hope
4401 Xylon Ave
New Hope, Minnesota 55428
Attn:
Notice to Borrower shall be addressed as follows:
BCD Holdings, LLC
7180 42nd Ave. North
New Hope, MN 55427
Attn: Chuck Durand
14.
Governing Law.
Notwithstanding the place of execution of this
4
instrument, the parties to this instrument have contracted for Minnesota law to govern
this instrument and it is agreed that this instrument is made pursuant to and shall be
construed and governed by the laws of the State of Minnesota without regard to the
principles of conflicts of law.
15. WAIVER. THE BORROWER WAIVES TRIAL BY JURY IN ANY
JUDICIAL PROCEEDING TO WHICH ANY PARTIES TO THIS INSTRUMENT ARE
INVOLVED AND WHICH DIRECTLY OR INDIRECTLY IN ANY WAY ARISES OUT
OF, IS RELATED TO, OR IS CONNECTED WITH THIS INSTRUMENT OR THE
RELATIONSHIP ESTABLISHED HEREUNDER, WHETHER ARISING OR ASSERTED
BEFORE OR AFTER THE DATE OF THIS INSTRUMENT.
Executed as of the date first above written.
BCD Holdings, LLC
(a Minnesota limited liability company)
By: Charles E. Durand
Its: Chief Manager
794602.1
5
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Loan calculator and amortization
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Calculate your monthly paym61t for mortgage, auto or home equity loans. Cnck on the "7"
next to the input box for an item to get help on that item.
Loan calculator and amortization
Loan amount
$ 62720.15, 6~i[IJ (Do not use CDmmas.)
10.00 [IJ years or 120 months
3.00 [2] % per year
Loan term in years or months
Interest rate"
Loan start date
Dec
1
.2009
Monthly Payments: $ 605.63 [2]
[ Show/Recalculate Amortization Table ] [2]
Extra Payments
Calculate the impact of extra payments using any combination of the inputs below
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State
City
$300,001 to $417,000
30 yr fixed mtg
[
Show/Recalculate Amortization Table
][2]
Amortization iable for $02720.15 borrowed on De\: 1, 2009
12
2010
605.03
445.53 1 449.95
I
156.801155.58
iotaII15s.501312.48
i Interast ($)
451.33
145.45 144.30
Balance ($) 62271.32 61621.37
http://v,'w\v.bankrate.comlbnn/popcalc2.asp?unroundedP ayment=605 .6304391594809&10... 5/13/2008
Loan calculator: Bankrate.com
Month 1 2 3 4
Year 2011 2011 2011 2011
Payment ($) 605.63 605.63 605.63 605.63
Principal 462.48 463.64 464.80 465.96
Paid ($)
5 6 7
2011 2011 2011
605.63 605.63 605.63
467.12 468.29 469.46
8 9
2011 2011
605.63 605.63
470.64 471.81
134.99 133.82
10
2011
605.63
472.99
132.64
11
2011
12
2011
605.63
605.63
474.17
475.36
131.46
130.27
Interest 143.15 141.99 140.83 139.67
Paid ($)
Total 1950.08 2092.07 2232.90 2372.57 2511.08 2648.42 2784.59 2919.58 3053.40 3186.04 3317.49 3447.76
Inleresl ($)
138.51 137.34 136.17
Balance ($) 56797.03 56333.39 55868.60 55402.64 64935.51 64467.22 53997.76 53527.12 53055.31 52582.32 52108.14 51632.78
Month 1 2 3 4
Year 2012 2012 2012 2012
Payment ($) 605.63 605.63 605.63 605.63
Principal 476.55 477.74 478.93 480.13
Paid ($)
Interest 129.08 127.89 126.70 125.50
Paid ($)
5 6 7
2012 2012 2012
605.63 605.63 605.63
481.33 482.54 483.74
124.30 123.10 121.89
8 9 10
2012 2012 2012
605.63 605.63 605.63
484.95 486.16 487.38
120.68 119.47 118.25
11
2012
12
2012
605.63
605.63
488.60
489.82
117.03
115.81
Total 3576.85 3704.74 3831.43 3955.93 4081.23 4204.32 4326.21 4446.89 4556.36 4584.61 4801.65 4917.46
Interest ($)
Balance (5) 51155.23 50678.49 50199.56 49719.43 49238.10 48755.56 48271.82 47785.87 47300.71 46813.33 46324.73 45834.91
Interest 114.59
Paid (S)
Tolal 5032,04 5145.40 5257.53 5358.4315478.09 5586.51 5693.68 5799.61 15904.29
interest (S)
Balance (S) 45343.87 44851.60 44358.10143853.36143387.39142870.18142371.72141872.02 41371.0
Month I 1 2 I 31 4 5 5 7 8
Year i 2014 2014 2014 I 2014 2014 2014 2014 2014
Payment ($) I 605.63 I 605.63 I 6D5.63I 605.63 6el5.63 605.63 605.63 6D5.6
Principal 505.98 507.24. 508.51
Paid (S)
Interest I 99,65
Paid ($)
Total II 6310.46 !154D6.64 1 6505,95
Inlerest ($) .
Balence (Sd 39354.71 38647.47 38338.96 37829.18 37318.12135805.78135292.17 35777.27135261.08 347
M~:~~ I 20"5 I 20215 20315 1 20~5 I
Payment ($) I 605.63 605.631 605.63 605.63
Month 1
Year 2013
2 3
2013 2013
Payment (S) 605.63
605.63 605.63
605.63
Principal 491.04
Paid (a)
494.74
492.27 493.50
113.35 112.13
110.9el
98.39
97.12
4
2013
5 6 7
2013 2013 2013
8 9 10
2013 2013 2013
605.63 605,63 I 605,63
499.70 500.95 502.20
105.93 104.68 103.43
92.0
89.44
6007.72 6109.89 6210.BO
517.48
88.15
11
2013
12
2013
605.63 605.63 605.63
495.97 497.21 498.45
109.66 108.42 107.18
95.85
94.57
605.63
605.63
503.46
504.72
102.17
100,91
0.69
2 I
14
505.63 605,53
518.77
1520.07
86.86
85.55
6601.81 16695.381 6789.681688U39j 6972.4217051.861 7150.02 7235.68 7322.44
Principai
Paid ($)
522.67
523.98
521.37
Interest
Paid ($)
84.26
82.96
81.65
'5.63
I 605.63
605.63
529.24
530.551
75.07
505.63 605.53 I 605.63
533'm2 534.55" 535.89 i
72.41 71.08 69.74
i I
605.63 I
531,89
73.74
4.83 33704.76
,
11
2015
12 !
2015 I
Page 2 of 4
http://vrw\v .barL'krate.comJbrmlpopcalc2.asp?unroundedP ayment=605 .63043 91594809&10... 5/1312008
525.2"9
527.92
80.34
Loan calculator: Bankrate.com
Page 3 of 4
Total 7405.70 7489.66 7571.31 7651.65 7730.68 7808.39 7884.79 7959.85 8033.60 8106.01 8177.09 8246.83
Interest ($)
Balance ($) 33183.39 32650.72 32136.74 31611.45 31084.85 30556.93 30027.70 29497.13 28955.25 28432.03 27897.48 27361.59
Month 1
Year 2016
2
2015
3
2016
4
2016
5
2016
6
2015
7
2016
8
2016
9
2016
10
2016
11
2016
12
2016
Payment ($) 605.63 605.63 605.63 605.63 605.63 605.63 605.63 605.63 605.63 605.63 605.63 605.63
Prtncipal 537.23 538.57 539.92 541.27 542.62 543.98 545.34 546.70 548.07 549.44 550.81 552.19
Paid ($)
65.71
54.36 63.01
Inlerest 68.40
Paid ($) .
Total 8315.24 8382.30 8448.01 8512.38 I 8575.39 8637.04 8697.34 8756.27 8813.84 8870.03 8924.85
Inlerest ($)I
67.06
61.65 60.30
58.93 57.55
56.19
54.
Balance ($) 26824.37 26285.80 25745.88 25204.62 24662.00 24118.02 23572.69 23025.99 22477.92 21928.49 21377.68 20825.49
Month 1 2 3
Year 2017 2017 2017
Payment (S) 605.63 605.63 605.63
Prtncipal
Paid ($)
553.57
554.95
Inlerest
Paid ($)
52.06
50.66
4 5 6 7
2017 2017 2017 2017
556.34
557.73
605.63 605.63 605.63 605.63
561.92
49.29
47.90
559.12
46.51
560.52
45.11
8 9 10
2017 2017 2017
563.33
605.63 605.63 605.63
43.71
42.30
584.74
40.90
555.15
11 12
2017 2017
605.63 605.63
567.56 568.98
~
39.411
Total 9030.36 9081.04 9130.33 9178.23 9224.74 9269.85 9313.56 9355.86 9396.76 9436.24 9474.31 9510.96
Interest ($)
Balance ($) 20271.92 19716.97 19160.83 18602.91 18043.78 17483.26 16921.34 16358.01 15793.28 15227.13 14659.57 14090.59
Month
Year
1
2018
2
2018
Payment (S)
605.63
605.63
Prtncipal
Paid (S)
570.40 I
I
33.80
571.83
Inlerest
Paid 1$)
35.23
Ilntere:o;;; 9546.,819579.98
Balance (S) i 13520.18 12948.35 12375.09
Month I 1 21 3
Year 2019 i 2019 i 2019
Payment IS) 505.63 605.83 I 605.63
Prtneipal 587.75
3
2018
2~8 I
I 605.63
574.69
5
2018
I 206'8
605.63
577.57
I 2:,8
I 605.63
1579.01 I
8
2018
605.63 I
580.46 I 581.91
i
Paid (S)
Interest I 17.88
Paid (S)
I Tot~I.19855.65 9873.05 9887.9'S
I Interest (~)
i Balane" (S) 6563.08 5973.86 5383.15 4790.99 4197.33 3502.20 3005.57 2407
15.41
605.63
573.26
32.37
30.94 I 29.50
605.63
576.13
11800.40 11224.27 10546.7
28.05
I 20~9
10057.69l 9487.23
7 I 8
2019 I 2019
605.63 I
8905.31
2:,8 I
605.63
605.63
583.37
8321.95
10
2018
605.63
1584.83
10
2019
11
2018
12
2018
4
2019
605.63 I 605.63 605.63
2019
14.93
9913.42 9923.
605.63
586.29
19.34
9819.43
7737.12
11
605.63
604.12
1.51
9953.99 9955.50
Print Amortization Table ][2]
1807.84 1206.73 604.12 0.00
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Compound Interest Calculator
Page 1 of 1
~: Mathematics
Compound Interest
Use this online calculator if you are borrowing money or you are lending money. This calculator
enables you to determine how much interest will be paid or accumulated.
See also: Free Amortization Schedule Calculator
COMPOUND INTEREST tep 1: Enter the Principal (the amount or money borrowed
r to be lent).
Principal 160000 I Months tep 2: Enter the Rate (The annual percentage or interest)
1 = .08
I Ratel13 I 2 = .17
3 = .25 ep 3: Enter the length of time in years the money will be
4= .33
5 = .42 borrowed or lent for.
I yearsl11.S I 6 = .50
7= .58
8 = .67 ample:
9 = .75
I Amount1162720.15 I 10 = .83
11 = .92 enise wants to borrow $5000.00 to purchase a used car.
he wants to be able find out how much the car will cost her
I InterestI127:Z0.15 I f she borrows the $5000.00 at an interest rate of 8% for 4
ears. Thus, she will enter $5000.00 in the column for
I[ Calculate 11 II Clear II rincipal. She will enter 8 in the column for rate and 4 in the
olumn for years. She will then click calculate. The amount
he is actually paying for her $5000.00 is $6802.44. The
total amount of interest she will be charged for borrowing the $5000.00 is $1802.44.
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5/13/2008
EDA
Request for Action
Originating Deparhnent
Approved for Agenda
Agenda Section
Community Development
EDA
Item No.
By: Curtis Jacobsen, Director of CD By:
5
Kirk McDonald, City Manager
Resolution awarding demolition contract for the Bass Lake Road Aparhnent complex (Improvement project
no. 836)
Requested Action
Staff requests the EDA consider the demolition bids received on May 22,2008, for the demolition of the Bass
Lake Road Aparhnent Complex and award to the lowest responsible bidder.
Policy/Past Practice
The EDA has historically considered bids and awarded to the lowest responsible bidder in the best interest of
the EDA and the city of New Hope.
Background
On April 14 the City COUl1cil approved the specifications for Demolition of the Bass Lake Road Aparhnent
Complex with a 10:00 am, Thursday, May 22, 2008 bid opening. Bids were received and tabulated to
determine low bidder.
I Name of Bidder
Sauter & Sons
Kevitt Excavating LLC
KA Kamish Excavating
Griffin Petroleum Services
I Doboszenski & Sons
I Frattalone Companies
Veit & Company
I Sterling Systems Inc.
Base Bid
98,100.00
116,980.00
121,725.00
136,850.00
168,444.56
184,320.00
197,280.00
235,950.00
Burn Deduct
8,000.00
-0-
5,600.00
9,800.00
5,000.00
16,600.00
10,460.00
15,000.00
Staff is in the rocess of revievling the ualifications of the two 10"\'17 bidders and will have a recorrLmendation
Motion by
Second bv
.;
To:
/
Request for Action
May 27, 2008
Page 2
for the EDA at the May 27 meeting.
Funding
Funds for the demolition will come from EDA funds.
Attachment(s)
€I Resolution
€I Bid sheets
Resolution No. 2008-
Resolution awarding the demolition contract for
the Bass Lake Road Aparhnent Complex
(Improvement project no. 836)
WHEREAS, the City Council approved the bid specifications for the demolition of the Bass
Lake Road Aparhnent Complex on April 14, 2008; and
WHEREAS, the bid specifications called for a bid opening on Thursday, May 22, 2008, at
10:00 am; and
WHEREAS, the bids were received, opened and read aloud at that time; and
WHEREAS, the apparent lov" bidder was from , Minnesota
with a bid of $ for their fixed cost total quote and a deduct of
per building proposed to be burned by the fire deparhnent.
NOW, THEREFORE BE IT RESOLVED by the City Council of the city of New Hope to award
the demolition contract to for the demolition of
the Bass Lake Road Aparhnent Complex in the amount of
with a deduct of for each building the fire deparhnent burns.
Adopted by the City Council of the city of New Hope, Hennepin County, Minnesota this
27thday of May 2008.
Mayor
ATTEST:
City Clerk
~21/2008 08:01 FAX 7838585230
TWIN PINES EARTHWORKS
!41 004/010
BID SHEET
Site Demolition (6 Buildings)
New Bope, Minnesota
(Improvement Project NQ, 836)
Bid Pate/Opening: May 22l 2008
Return to: Community Development Pepartr.o..ent
4401 Xylon Avenue North
New Hope~ Minnesota 55428
._~
:Fixed Costs
ITEM
'(jl\i'IT OTY
"l'iI'iTI
COST
TOTAL
COST
Property (8400 and 8420 Bass La..~ Road, g401, 8411 and. 8421 58th Avenue Nor.h)
1.
Demolition -Removal offoundatioll, structures
and. all oilier site structures, general fJi, c1ea.'>'ing
aud grubbing, and site grading.
LS
89,100
89,100
5,000
2.
Sewer and water service discoilllection
Hyd.roseeding and hymomu1ching
LS
L5
I ~, 000
I 4,000
,
4,000
3.
Fixed Cost Total Quote
98,100
'" Specific deduct pet building bu..rned by the fLTe department LS
8,000
8,000
>!<
The project award will be based on the fixed COS! total quote. Ifvariable COS!S ite!!'.JJ are encurred they will
be paid per 1.l..TJlt price based ou quantities removed.
'T!.1e undersigned, ha:v-ing studied L.~e attached description of\vork, being familiar with all mctors and other
conditions affecting the work and c.ost thereof, hereby proposes to demolish these apiiJ.-'cment builiclngs and
fi.lrnish every-J1ing necessary to compI:;;t.:; the proj~c;t in I2cOOrdaJ1Cl;;i '\Ztlth th~ ~rtE1chr;d description of\vork.
Sauter & Sons, Inc.
Firm ~7
<-'../ 7<;" P r.)
r " . l {- ::;,. C ''C' N L
,'!'.gent '. \
6651 141st Ave NVJ
Thomas Sauter
Printed N am.e
763-421-7919
Address
Ramsey f {\1L\! 55303
T elephane
763-421-0797
City, State &. Zip Code
5-22-08
sauterandsons@gmail.com
Dati;
E-mail
1
BID SHEET
Site Demolition (6 Buildings)
New Hope, Minnesota
(Improvement Project No. 836)
Bid Date/Opening: May 22, 2008
Return to: Community Development Department
4401 Xylon Avenue North
New Hope, Minnesota 55428
ITEM
UNIT
UNIT OTY COST
Property (8400 and 8420 Bass Lake Road, 8401, 8411 and 8421 58th Avenue North)
1. -
Demolition -Removal offoundation, structures
and all other site structures, general fill, clearing
and grubbmg, and site grading.
LS
. 0 <?
1/00/'7<:.0
2.
Sewer and water service disconnection
Hydroseeding and hydromulching
LS
LS
1 d1i:>O&,"
1 61 000
..,
.:l.
Fixed Cost Total Quote
*SpeCllC deduct per building burned by the fire department LS
1
o
TOTAL
COST
/o~; 9go
"d,ooe;
6/000
:t
1/6,9??O
0.00
The project award will be based on the fixed cost total quote. Ifv8J.-:iable costs items are encurred they will
be paid per unit price based on quantities removed.
The undersigned, having studied the ar.ached description of work, being faIrriliar yvith all factors and other
conditions affecting the work and cost thereof, hereby proposes to demolish these apartment builidngs and
furnish every~Jllng necessary to complete the project in accordance 'With the ar.ached description of work.
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Agent
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Address
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I
City, State & Zip Code
F- ;; :? - d 2
Printed N8J.lle
767- 5';/.5""- "'3~.r7
Telephone
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Fax
C !/ZEAlO (!) /tot, CC/0
E-mail
Date
1
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BID SHEET
Site Demolition (6 Buildings)
New Hope, Minnesota
(Improvement Project No. 836)
Bid Date/Opening: May 22, 2008
Return to: Community Development Department
4401 Xylon Avenue North
New Hope, Minnesota 55428
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Fixed Costs
ITEM
Ul\'IT
UNIT OTY COST
TOTAL
COST
Property (8400 and 8420 Bass Lake Road, 8401, 8411 and 8421 58th Avenue North)
\\'? ~40.CO
I
1.
Demolition-Removal of foundation, structures
and all other site structures, general fill, clearing
and grubbing, and site grading.
LS
2.
Sewer and water service disconnection
Hydroseeding and hydro mulching
LS
LS
1
1
S '2S0ICO
Wi \, '?J C', 1""'0
I - ,
3.
Fixed Cost Total Quote
, I'i \ "\ ,., c.. CO
t "_ .I'-. 'J \
j
Is loCO , w~
'- I '../ /
*Specific deduct per building burned by the fire department LS
1
The project award ~ri.ll be based on the fixed cost total quote. Ifvariable costs items are encurred they \vill
be paid per unit price based on quantities removed.
The undersigned, having studied the attached description of work, beLTlg familiar with all factors and other
conditions affecting the work and cost thereof, hereby proposes to demolish these apartrnent builidngs and
furnish everything necessary to complete the project in accorda.i"1ce \'vith the attached description of work.
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Agent
Printed Name
\30\ SCone c,rd S~.
Address
ldS \ -4 ::> t. 310-uO
Telephone
<::::-. C:' .n 1 '\
--.l, ;:::).\-. l-' II 0 \ In 50
City, State & Zip Code
,SSO !~S
5/3\\ ioB
, I
Date
j--<el+~~ k(\-oi~(\Y(l\~h, corn
E-mail
BID .sHEET
Site Demolition (6 Buildings)
New Hope, Minnesota
(Improvement Project No. 836)
Bid Date/Opening: May 22, 2008
Return to: Community Development Department
4401 Xylon Avenue North
New Hope, Minnesota 55428
_.~.~~
~
Fixed Costs
ITEM
Ul'UT
l)l~lT OTY COST
Property (8400 and 8420 Bass Lake Road, 8401, 8411 and 8421 58th Avenue Nor-ill)
1.
Demolition -Removal of foundation, structures
and all other site structures, general fill, clearing
and grubbing, and site grading.
LS
1 J 10/i-tO
2.
Sewer and water service disconnection
Hydroseeding and hydromulcbing
LS
LS
~
1 4,btv
;'1 ,('~n~
1 I f:?,,r /~0""'"
3.
Fixed Cost Total Quote
*Specific deduct per buiJding burned by the fire department LS
O;/o1:r
1
TOTAL
. COST
j /0 410f:.(:'
q". A . (;0
'b40~
. , ; a."a.' ~ '''',
llCJi v..J:.;";
J
j?0,v5D~
I
- Ii /'I"~
) JUc-U *
The project award will be based on the fixed cost total quote. If variable costs items are encurred they will
be paid per unit price based on quantities removed.
The undersigned, having studied the attached description of work, being familiar with all factors and other
conditions affecting the work and cost thereof, hereby proposes to demolish these apartment builidngs and
furnish everything necessarj to complete the project in accordance with Lhe attached description of work.
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Firm 'i .~
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Agent
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Printed Name
r-- Y l"t11(
6j- ,Ir
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'->" 1,"')'.2.')
(f!lJ -- (7)") (...
7/-7
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Telephone
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Address
1?;L-4-\;Jt Ml'-!
City, State & Zip Code
:::;- i'J 7 / U.nc.2.
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Date
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Fax
DA V~l!)~@ 617-1 F~ 'U-J fVU'\t ,(,Ot1(,
E-mail
1
BID SHEET
Site Demolition (6 Buildings)
New Hope, :Minnesota
(Improvement Proj eet No. 836)
Bid Date/Opening: May 22, 2008
Return to: Community Development Department
4401 Xylon Avenue North
New Hope, Minnesota 55428
ITEM
Ui'I"IT
lJl"HT OTY COST
TOTAL
COST
Property (8400 and 8420 Bass Lake Road, 8401, 8411 and 8421 58th Avenue North)
1.
Demolition -Removal of foundation, structures
and all other site structures, general fill, clearing
and grubbing, and site grading.
LS
1 /!;p/~ri3
/' ./
;f?Ojf;jr/3
2.
Sewer and water service disconnection
Hyc1roseeding and hyc1romulcbing
LS
LS
1 2l5l~s- 235/, reS-
151~7. 7~ ~9Z7,75
..,
:;).
Fixed Cost Total Quote
!~~ LjLji56
1000#,(/1) CSOOt1,1Jd *)
*Specific deduct per building blurred by the fire department LS
The project award will be based on the fixed cost total quote. Ifvariable costs items are encurred they \cvill
be paid per unit price based on quantities removed.
The undersigl1ed, having studied the attached description of work, being familiar with all factors and other
conditions affecting the work and cost thereof, hereby proposes to demolish these apartment builidngs and
furnish everyd1i.ng necessary to complete the project in accordance cvcvith the attached de'scription ofworle.
/)u60.5Zeo5J~j' C?{/C) 50,-05 --J;:uC-,
Firm
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Agent
Pri..nted Name
952d ~7V I?J ;' 9
Address
/'0 iello ,/JW o53S/
City, State & Zip Code
7~/S- Y7~-09Y~
Telephone
'7&3- i(78:-3//5(;
Date
5- 22- 06'
g i/;r4 rJe;JcJ!f~ Md060 5~./JJ.:; !~NJ Jc-v;, co ,A"",
E-mail' -
<:.~
BID SHEET
Site Demolition (6 Buildings)
New Hope, l\tlinnesota
(Improvement Project No. 836)
Bid Date/Opening: May 22, 2008
Return to: Community Development Department
4401 Xylon Avenue North
New Hope, Minnesota 55428
ITEM
uNIT
lINIT OTY COST
TOT.4.L
COST
Property (8400 and 8420 Bass Lake Road, 8401, 8411 and 8421 58th Avenue North)
1.
Demolition -Removal of foundation, structures
and all other site structures, general fill, clearing
and grubbing, and site grading.
LS
1 ng,:2Y5CO iTKdLJ5.00
2.
Sewer and water service disconnection
Hydroseeding and hydromulching
LS
LS
1 wns.Ct
1 iJC;O. C/2J
L\ RlS.OO
Id.CO 00
..,
.J.
'"
Fixed Cost Total Quote
\ KLi '3~O,tQ
*Specific deduct per building burned by the fire department LS
l \l:,\i:(jO.~~
The project award will be based on the fixed cost total quote. Ifvariable costs items are encw-red they will
be paid per unit price based on quantities removed.
The undersigned, having studied the attached description of work, being familiar with all factors and other
conditions affecting the work and cost thereof, hereby proposes to demolish these apac-onent builidngs and
fu..rnish everything necessary to complete the project in accordance ,;vith the attached description of work.
Frattalone Companies, InCa
Firm
Nick Frattalonep CFO
Name
Agent
3205
Address
651-484-0448
Telephone
651-484-7839
St. Paul, MN 55117
City, State & Zip Code
5/22/2008
Date
mikef@frattalonecornpaniesocorn
<t:::::._
BID SHEET
Site Demolition (6 Buildings)
New Hope, Minnesota
(Improvement Project No. 836)
Bid Date/Opening: May 22, 2008
Return to: Community Development Department
4401 Xylon Avenue North
New Hope, Minnesota 55428
ITEM
Ul.'ITI
UNTI OTY' COST
TOTAL
COST
Property (8400 and 8420 Bass Lake Road, 8401, 8411 and 8421 58th Avenue Nor-ill)
1.
Demolition -Removal of foundation, structures
.and all other site structures, general fill, clearing
and grubbiIlg, and site grading.
LS
'1'1 -Qjo.v:i
~
n'l. .1YOI!o
I
2.
Sewer and water service disconnection
Hydroseeding and hydromulcbing
LS
LS
1 'l."'Jl(}O:'
1 1\0 ; i DC .0<)
~.~+~. (;i!J
)0 ,/0-0 ,00
,
..,
,).
Fixed Cost Total Quote
~;;
. I
*Specificdeduct per building burned by the fire department LS
1 j\),l..j{nD.u" wl41p? .(f~
I f (,'- Ir
:::
The project award will be based on the fixed cost total quote. Ifvariable costs items are encurred they will
be paid per unit price based on quantities removed.
The undersigned, having studied the attached description of work, being familiar \vith all factors and other
conditions affecting the work and cost thereof, hereby proposes to demolish these apartment builidngs and
furnish everY~llring necessary to complete the project LTJ accordance with the attached description of work.
IIr /1 f 0J rnOaA1 U I . :[he,
~
.)
Agent
I) :2
I" ..-: I J 1 ,--'
kn.tJ <. , }I.P f} '(.:7
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PrinteerN ame
f€/)q.c-IY', Iv; IJ
City, "State J"& Zip Code
c:c27d
L.../J '_.I' f f
i'Jt /) 1/10 "i,'f~
I t?5""'-j,rr - c:l'o!..t;.)-
Telephol1e
nj/> Ih.t1 (nt/v
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Fax
ILI.N)"') IU;-.,L CIa 17/7
! f I /r.. t, If (,. u , "I.- (..or.:--
Address
A /J "
v ltti,,1
Date.!
d.2-.) JfZJf/
BID SHEET
Site Demolition (6 Buildings)
New Hope, Minnesota
(Improvement Project No. 836)
Bid Date/Opening: May 22, 2008
Return to: Community Development Department
4401 Xylon Avenue North
New Hope, Minnesota 55428
ITEM
UNTI
UNiT OTY COST
TOT_i\L
COST
Property (8400 and 8420 Bass Lake Road, 8401, 8411 and 8421 58th Avenue North)
1.
Demolition -Removal of foundation, structures
and all other site structures, general fill, clearing
and grubbing, and site grading.
LS
~
ICf '7} Soo < (.',':..
2.
Sewer and water service disconnection
Hydroseeding and hydromu1ching
LS
LS
1 . et;.-1 .
1 e.,Cj .
/0 00(;., (>0
I
2.8, t(~c). <"0
....
.).
Fixed Cost Total Quote
Ik -;)..?,~ '15"6. C'.",}
*Specific deduct per building burned by the fire department LS
eq.
Oc,'C C--J
.!.
Co'
The project award \Vill be based on the fixed cost total quote. Ifvariable costs items are enclLrred they will
be paid per unit price based on quantities removed.
The undersigned, having studied the attached description of ' work, being familiar with all factors and other
conditions affecting the work and cost thereof, hereby proposes to demolish these apartment builidngs and
furnish everything necessary to complete the project iiJ accordance \vith the attached description of work.
C..../.:::':tn ~ ~ , {' '""\ .'","""f ;:::; 1M (
.;:),i I;: feLl Iv G ,::::, ~ J-. '-j .2
Firm \.! ___
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Agent
Printed Name
-7cr:> \~'2' It.,;./-...i ~ ~ ~ v' :4/1../2- ~ WV {2.. Sc -
Address
.- '5 '/:--(" () 2- i;... f
Telephone
G....- U'{A..,...,
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City, State & Zip Code
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7(.,0}' ~.
<; 7'/,. c,Z I f
Fax
~D0
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jC:.J,'tr?.- ........}.' A('Jf.
E-mail
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