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ASSESSMENT AGREEMENT THIS AGREEMENT, made and entered into as of the 23rd day of July, 2001 by and among the and the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a Minnesota public body corporate and politic (the "Authonty"), the CITY OF COLUMBIA HEIGHTS, a home rule charter city and municipal corporation under the laws of Minnesota (the "City ") and ROBERT C BARNICK and PRISCILLA A BARNICK, husband and wife (the "Developer ") WITNESSETH WHEREAS, the Housing and Redevelopment Authonty in and for the City of Columbia Heights, Minnesota (the `HRA' ), the City, and the Developer did on September 12, 1995 execute and deliver that certain document entitled Contract for Private Development (the "Contract "), and WHEREAS, the HRA has conveyed its lights, interests, and obligations in the Contract to the Authority, and WHEREAS, pursuant to the Contract the Developer is obligated to construct, or has constructed, the Minimum Improvements (as defined in the Conti act) upon the Property legally described at Exhibit A hereto, and WHEREAS, the Authority, the City, and the Developer desire to establish a minimum market value for the Property and the Minimum Improvements constructed thereon, pursuant to Minnesota Statutes Section 469 177, Subdivision 8 and WHEREAS, the Assessor for Anoka County (the "Assessor ") has reviewed the plans and specifications for the Improvements, NOW THEREFORE, the parties to this Agreement, in consideration of the promises covenants and agreements made by each to the other, do hereby agree as follows 1 The minimum market value which shall be assessed for the Redevelopment Property described in Exhibit A, together with the Improvements thereon, for ad valorem tax purposes, shall be $227,00 as of January 2, 1996, notwithstanding the progress of construction of the Minimum Improvements by such date 2 The minimum market value herein established shall be of no further force and effect and this Agreement shall terminate on the Temmnation Date (as defined in the Contract) 4 Neither the preambles nor provisions of this Agreement are intended to nor shall they be construed as, modifying the terms of the Contract DJG 195476\1 1 CL205 9 5 This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties 6 Each of the parties has authority to enter into this Agreement and to take all actions required of it, and has taken all actions necessary to authonze the execution and delivery of this Agreement 7 In the event any provision of this Agreement shall be held invand and unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof 8 This Agreement may not be amended nor any of its terms modified except by a writing authorized and executed by all parties hereto 10 This Agreement may be simultaneously executed in several counterparts, each of which shall be an onginal and all of which shall constitute but one and the same instrument 11 This Agreement shall be construed in accordance with the laws of the State of Minnesota Any dispute arising from this Agreement shall be heard in the state or federal courts of Minnesota, and all parties waive any objection to the jurisdiction thereof, whether based on convenience or otherwise 12 This Agreement supercedes and replaces in all respects that Assessment Agreement by and among the Housing and Redevelopment Authority in and for the City of Columbia Heights, Minnesota, the City of Columbia Heights, and , and Robert C Barnick And Pnscilla A Bamick, d/b /a Metro Assembhes, a sole proprietorship dated August 16, 1995 and recorded among the Anoka County land iecoids as document number 1182904 DJG 195476v1 2 CL205 9 IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the day and year first above wntten THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY BY 1./ l / Z rr Its AMR' By _ of- Its r't,tr STATE OF MINNESOTA ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this '7 day of 1'YZ , 200 , , by . �� Rv -- m o r y ' and oXJ,sur , the Q e„-- and E_K , of the Columbia Heights Economic Development Authonty, a public body corporate and politic under the laws of the state of Minnesota, on behhthe Authonty • 112 Notary Pub hc y f a t, y ,,, / 1/ �i r+, N07A ,Y'U3IIC ' f,,y( F. J,ail -ti DJG 195476v1 3 CL205 9 THE CITY OF COLUMBI • EIGHTS I it By 1 , A1" Its Lt ter B y die Its e.7 0,C4 �,P�,' STATE OF MINNESOTA ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this X3-3 day of , 2001 , by Ca‘c' 49 -Our s and (, \c \ , the YV■ or and (&& Nrof the City of Columbia Heights, Minnesota, a municipal corpora n under the laws of the state of Minnesota, on behalf of the Authority 0 11. �^ �Fr.'laAn[aA^r �q�?9FA� ®�'�~• r 1 �! + SCU J! f otary Public � �R till' � ' L jai DJG 195476v1 4 CL205 9 A RO : ERT C BARNICK ;;; PRISCILLA A B • RNICK STATE OF MINNESOTA ) ) ss COUNTY OF /-I n- t f ) The foregoing instrument was acknowledged before me this 13 day of 3TU Ltq , 20 0 1 by Robert C Bamick and Priscilla A Barnick husband and wife Notary Public A M aw w A (1..+,. BEVERLY E JACKSON t s+ N )+nry PUNIC Z;. , ^ iota R, My Comnnesion Expires Jan 31 2005 This document drafted by Kennedy & Graven, Chartered 470 Pillsbury Center Minneapolis MN 55402 (612) 337-9300 DJG 195476v1 5 CL205 9 EXHIBIT A TO ASSESSMENT AGREEMENT PROPERTY LEGAL DESCRIPTION Parcel 1 All of Lots 29, 30 and 31, except the west 18 5 feet of Lot 31, Block 89, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota, together with the north halt of the vacated alley lying adjacent thereto Parcel 2 The west 18 5 feet of Lot 31, Block 89, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota, together with the north half of the vacated alley lying adjacent thereto DJG 195476v1 A _ 1 CL205 9 CERTIFICATION BY COUNTY ASSESSOR The undersigned having reviewed the plans and specifications for the improvements to be constructed and the market value assigned to the land upon which the improvements are to be constructed, hereby certifies as follows The undersigned Assessor, being legally responsible for the assessment of the above descnbed property, hereby certifies that the values assigned to the land and improvements are reasonable / / /P Lures ,%C ' my Assessor for the County of Anoka STATE OF MINNESOTA ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this /1 day of lTilll e- gPOOI by S 17 e t- e.r' , the County Assessor of the County of Anoka `,' JAN MARIE H HALDE 1 Q e : r .- NOTARY PUBLIC Not UbhC My Comm Exp Jan 31 2005 DJG 195476v1 A -2 CL205 9 r IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the day and year first above wntten THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY BY AeJ.. .zed Its ,a, BY / /:- :. ;•. Its STATE OF MINNESOTA ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this 1 day of - - . 0 S \ o -, , 200 ( , by ' k s , , N o Z+r I , - R,v e `yv: Y\ and .■ FMS -k- , the P (' e ;, and _,) c �', r ., of the Columbia Heights Economic Development Authonty, a public body corporate and politic under the laws of the state of Mmnesota, on be . _ : the Authonty A • a. _ _ Ik __ ..,,m. �, ••,-,'' ai.�t k y rotary Public { rfT ^�;14 mu7141tlCJVI4 ? el � Rl }.Ir u u =` PUQLIC� a +III LSOIA , ry , ( Exp Jan 3 " DJG 191019v2 A -E -3 CL205 9 1590973 FIRST AMENDMENT TO CONTRACT FOR PRIVATE REDEVELOPMENT THIS FIRST AMENDMENT, made and entered into as of the 23rd da o1/ f July, 2001 by and among the and the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a Minnesota public body corporate and politic (the "Authority "), the CITY OF COLUMBIA HEIGHTS, a home rule charter city and municipal corporation under the laws of Minnesota (the "City ") and ROBERT C BARNICK and PRISCILLA A BARNICK, husband and wife (the "Developer ") WITNESSETH 35 -36 ay- 31/-063$ 9 WHEREAS, the Housing and Redevelopment Authority in and for the City of Columbia Heights, Minnesota (the "HRA "), the City, and the Developer did on September 12, 1995 execute and deliver that certain document entitled Contract for Private Development (the "Contract "), and WHEREAS, the HRA has conveyed its rights, interests, and obligations in the Contract to the Authonty, and WHEREAS, changes in property tax rates and a lower than anticipated base value of the property subject to the Contract have caused less tax increment than expected to be generated and paid pursuant to the Contract, and WHEREAS, the Authority, the City, and the Developer desire to extend the term of the Contract in order to provide for the potential generation and payment of additional tax increment than onginally projected pursuant to the Contract, and WHEREAS, the Authonty and the City have reviewed this Amendment, have received the reports and recommendations of its staff and consultants, and have concluded that this Amendment is necessary and appropriate and in furtherance of the goals and objectives as originally set forth in the Contract NOW THEREFORE, based upon the mutual covenants and undertakings of the parties, the Contract is hereby amended as follows 1 The definition of "Agreement" in Section 1 1 is amended to read as follows "Agreement" means this Contract for Pnvate Development, as amended by the First Amendment to Contract for Pnvate Development dated July 23, 2001, and as the same may be from time to time further modified, amended, or supplemented 2 A definition of "Tax Increment" in Section 1 1 is added to read as follows DJG 191019v2 1 CL205 9 "Tax Increment" means that portion of the real property taxes which is paid with respect to the Property and which is remitted to the Authority as tax increment pursuant to the Tax Increment Act 3 The defimtion of "Termination Date' in Section 1 1 is amended to read as follows "Termination Date" means the earlier of February 1, 2020 or the date that (i) the Developer has been fully reimbursed for Qualifying Reimbursable Costs pursuant to this Agreement, and (ii) the Authonty has paid $60,000 in Available Tax Increment to the City pursuant to Section 5 3 of this Agreement 4 Section 5 3 is amended to read as follows Section 5 3 Qualifying Reimbursable Costs (a) Subject to the terms and conditions of this Agreement, the Developer will be reimbursed by the Authonty for the Qualifying Reimbursable Costs, hereby defined as the following costs, which the Developer warrants that it has incurred and paid with respect to the Minimum Improvements Architectural and engineenng fees $ 4,500 00 Project administration/site supervision 9,780 00 Building permit 1,200 00 Demolition of fence 750 00 Site clean up 1,800 00 Dumpster rental 1,200 00 Extenor lighting 2,560 00 Parking lot paving 8,750 00 Landscaping 1,000 00 Land Acquisition 18,876 67 Total $50,416 67 The Quahfying Reimbursable Costs will be paid by the Authonty to the Developer, without interest thereon, in semi -annual installments payable on each February 1 and August 1 ( "Payment Dates ") commencing February 1, 2001 and concluding no later than the Termination Date These payments will be made from Available Tax Increment as defined in this Section 5 3 and from no other source (b) The term "Available Tax Increment' means 89 75% of the Tax Increment calculated by the County and paid by the County to the Authority during the six months preceding any Payment Date, after first subtracting $1,840 28 that shall be paid by the Authority to the City as payment for $60,000 of the cost of the Authonty's acquisition of Parcel 1 from the City (such $1,840 28, plus any amounts previously due but unpaid on any Payment Date to the City by the Authority pursuant to this Section 5 3(b) shall be referred to herein as the "City Payment ") DJG 191019N2 2 CL205 9 (c) If on any Payment Date there is available to the Authonty insufficient Tax Increment to make the City Payment, the amount of such deficiency shall be deferred and shall be paid, without interest thereon, on the next Payment Date on which the Authority has available to it Tax Increment in excess of the amount necessary to pay the amount of the City Payment due on such Payment Date (d) The Authonty shall have no obligation to pay any portion of the Qualifying Reimbursable Costs that remains unpaid after the Termination Date The Authonty may prepay all or part of the Qualifying Reimbursable Costs at any time (e) The Authority shall not be obligated to make any payment to the Developer under this Agreement if there is an Event of Default on the Developer's part under this Agreement that has not been cured (f) The Authonty makes no warranties or representations that Available Tax Increment will be sufficient to pay the Quahfying Reimbursable Costs The Developer agrees and understands that Available Tax Increment is subject to calculation by the County and change in State law, and that a significant portion of Qualifying Reimbursable Costs may remain unpaid after the Termination Date The Developer further agrees and understands that estimates of Available Tax Increment provided by the Authonty and its agents, officers, or employees are estimates only and not intended for the Developer's reliance (g) Notwithstanding anything to the contrary herein, the Developer acknowledges and agrees that (i) in no case shall it be entitled to receive more than $50,416 67 pursuant to this Agreement, (u) in 1997 and 1998, it received $7,361 00 in Tax Increment as reimbursement for Qualifying Reimbursable Costs, and, therefore, (ui) as of and from February 1, 1999 until the Termination Date the Developer shall in no case be entitled to receive more than $43,055 67 in Available Tax Increment in addition to the $7,361 00 it has already received 5 Exhibit E to the Contract, the Assessment Agreement, is deleted in its entirety and replaced by the Assessment Agreement set forth m Schedule A to this Amendment, and wherever used in the Contract, "Assessment Agreement" shall mean the Assessment Agreement set forth in Schedule A to this Amendment 6 Exhibit F to the Contract, the Repayment Agreement, is deleted in its entirety and replaced by the repayment obligation descnbed in Section 5 3 to the Contract, as amended, and wherever used in the Contract, "Repayment Agreement" shall mean the repayment obligation set forth in Section 5 3 to the Contract, as amended 7 This Amendment shall take effect upon the execution of this Amendment and all Exhibits hereto by the Authority, the City, the Developer, and, to the extent necessary, by the Anoka County Assessor DJG 191019‘2 3 CL205 9 8 Except as specifically amended herein, the Contract remains unaltered and in full force and effect 9 The Authonty or the City may record this First Amendment and the Assessment Agreement in the public land records in and for Anoka County, Minnesota The Developer shall pay all costs for recording 10 This First Amendment, and the Contract, shall be construed in accordance with the laws of the State of Minnesota Any dispute arising from this Agreement shall be heard in the state or federal courts of Minnesota, and all parties waive any objection to the junsdiction thereof, whether based on convenience or otherwise DIG 1910192 4 CL205 9 IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the day and year first above wntten THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY .41 By d , _` ��, 4e. - Its r- By G � /�'L �J Its .. , ✓ • 411P o STATE OF MINNESOTA ) ) SS COUNTY OF (Ay, d 0. ) The foregomg instrument was acknowledged before me this 1 7 day of 4 , 200_, by ks_,�e R ,lerrahr and 4 .1. . , the Pre d e. and Lk ec, b►re c pf the Columbia Heights Economic Development Authonty, a public body corporate and politic under the laws of the state of Minnesota, on be f the Authonty nk Notary Public "-e-")-\-r 4 PAT RICIA V MUSCOVI T Z i r NOTARY PUBLIC MINNESOTA > a� 9 � My Comm Exp Jar 31 2005, J DJG 191019v2 5 CL205 9 THE CITY OF CO V :IA HEIGHTS By ,I L L4 ��► 5� Its 1� • By _/ ;v Its ey Ag4,7 STATE OF MINNESOTA ) ) SS COUNTY OF g ) The foregoing instrument was acknowledged before me this L3 day of Ajr ■ , 200 1 , by Gary Pe ia-rs c n and We, `1e r Vey Si- , the 0, and t ■vc of the City of Columbia Heights, Minnesota, a municipal corporati under the laws of the state of Minnesota, on behalf of the Authority 1• Notary Public t it Afch. a FATRICIA V MUSCOVITI 4 ' NOTARY PUBLIC MINNE"0 rib „ My Comm Exp Jan 91 w, \ DJG 191019v2 6 CL205 9 2 / 'f , ��. ROBE' T C BARNICK /4 j/ ■,._. 1!:i; PRISCILLA A BARNICK STATE OF MINNESOTA ) ) ss COUNTY OF 4/ t,q ) The foregoing instrument was acknowledged before me this 7-3 day of -Tw ly , 20 D ) , by Robert C Barnick and Priscilla A Barnick, husband and wife Notary Pt '6- 1 . 1 1-'.-c plic .t'c'11-- E g '"..C1C'34-rt BEVER E . CKSO ti N o tary LY Pub Minnesota My Commissmn Expires Jan 31 2005 3/0 This document drafted by Kennedy & Graven, Chartered 470 Pillsbury Center Minneapolis, MN 55402 (612) 337 -9300 DJG 191019v2 7 CL205 9 1 I SCHEDULE A DJG 1871943 A -1 RC12S 223 EXHIBIT E ASSESSMENT AGREEMENT THIS AGREEMENT, made and entered into as of the day of 20 by and among the and the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a Minnesota public body corporate and politic (the "Authority "), the CITY OF COLUMBIA HEIGHTS, a home rule charter city and municipal corporation under the laws of Minnesota (the "City ") and ROBERT C BARNICK and PRISCILLA A BARNICK, husband and wife (the "Developer") WITNESSETH WHEREAS, the Housing and Redevelopment Authonty in and for the City of Columbia Heights, Minnesota (the "HRA "), the City, and the Developer did on , 1995 execute and deliver that certain document entitled Contract for Private Development (the "Contract "), and WHEREAS, the HRA has conveyed its rights, interests, and obligations in the Contract to the Authonty, and WHEREAS, pursuant to the Contract the Developer is obligated to construct, or has constructed, the Minimum Improvements (as defined in the Contract) upon the Property legally descnbed at Exhibit A hereto, and WHEREAS, the Authority, the City, and the Developer desire to establish a minimum market value for the Property and the Minimum Improvements constructed thereon, pursuant to Minnesota Statutes, Section 469 177, Subdivision 8, and WHEREAS, the Assessor for Anoka County (the "Assessor ") has reviewed the plans and specifications for the Improvements, NOW, THEREFORE, the parties to this Agreement, in consideration of the promises, covenants and agreements made by each to the other, do hereby agree as follows 1 The minimum market value which shall be assessed for the Redevelopment Property described in Exhibit A, together with the Improvements thereon, for ad valorem tax purposes, shall be $227,000 as of January 2, 1996, notwithstanding the progress of construction of the Minimum Improvements by such date 2 The minimum market value herein established shall be of no further force and effect and this Agreement shall terminate on the Termination Date (as defined in the Contract) DJG 191019v2 A -E -1 CL205 9 4 Neither the preambles nor provisions of this Agreement are intended to, nor shall they be construed as, modifying the terms of the Contract 5 This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties 6 Each of the parties has authonty to enter into this Agreement and to take all actions required of it, and has taken all actions necessary to authonze the execution and delivery of this Agreement 7 In the event any provision of this Agreement shall be held invalid and unenforceable by any court of competent junsdiction, such holding shall not invalidate or render unenforceable any other provision hereof 8 This Agreement may not be amended nor any of its terms modified except by a wntmg authonzed and executed by all parties hereto 10 This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument 11 This Agreement shall be construed m accordance with the laws of the State of Minnesota Any dispute ansmg from this Agreement shall be heard in the state or federal courts of Minnesota, and all parties waive any objection to the junsdiction thereof, whether based on convenience or otherwise 12 This Agreement supercedes and replaces in all respects that Assessment Agreement by and among the Housing and Redevelopment Authonty in and for the City of Columbia Heights, Minnesota, the City of Columbia Heights, and , and Robert C Barrack And Pnscilla A Barnick, d/b /a Metro Assemblies, a sole propnetorship dated , 1995 and recorded among the Anoka County land records as document number DJG 191019v2 A -E -2 CL205 9 IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the day and year first above written THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY B ,#/ . Its / By G�4���� Its ' /.lec STATE OF MINNESOTA ss COUNTY OF ANOKA The foregomg mstrument was acknowledged before me this 1 day of `tY\ o-*... , 200 d... , by sli,\D ex A-- I v -e.: rr.4.,v.k— and L) o. kAkir c,e`nS-\-- , the Q r e and sec. - D►r t agQf the Columbia Heights Economic Development Authonty, a pubhc body corporate and politic under the laws of the state of Mmnesota, on behalf of the Authonty P ' ''nn,, ... _. . J.. • illis • otary Public � PATRICIA V MUSC,O "II T Z A NOTARY PUBLIC '.IINNtSOTA Rr My Comm Exp Jar 31 20u5 j / 3 /O DJG 191019v2 A -E -3 CL205 9 THE CITY OF COL 1:IA HEIGHTS AP By lilt1 /!_ Its ,(v1 �,.. By �.1 - 7/. � ZJ Its C 77/Army e'r STATE OF MINNESOTA 1 ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this ''j day of , 200 L , by G c - Q&2Ae r 5 0y\ and ( cs._\-itcr FQ.hsf , the _ and of the City of Columbia Heights, Minnesota, a municipal corporate n under the�the state of Minnesota, on behalf of the Authority f��„ t �� ���s�=�r otary Public \J MU PUBLIC I 'LCL, e �� p ■ 1 Exp Jar `./ qq etr v Fr d ,a, i.PNWb DJG I91019v2 A -E -4 CL205 9 9, , ROB ‘'C BARNICK / 'RISCILL A A BARNICK STATE OF MINNESOTA ) ) ss COUNTY OF fi n, ) The foregoing instrument was acknowledged before me this 2.3 day of S , 20 o / , by Robert C Barrack and Pnscilla A Barrack, husband and wife L vu'- Cl�ii.cK/ Notary Pubhc U (/ ro BEVERLY E JACKSON Notary Public • Minnesota My Can n scion Expnes Jan 31 2005 I / ` V7 This document drafted by Kennedy & Graven, Chartered 470 Pillsbury Center Minneapolis, MN 55402 (612) 337 -9300 DJG 191019v2 A -E -5 CL205 9 EXHIBIT A TO ASSESSMENT AGREEMENT PROPERTY LEGAL DESCRIPTION Parcel 1 All of Lots 29, 30 and 31, except the west 18 5 feet of Lot 31, Block 89, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota, together with the north half of the vacated alley lying adjacent thereto Parcel 2 The west 18 5 feet of Lot 31, Block 89, Columbia Heights Annex to Minneapohs, Anoka County, Minnesota, together with the north half of the vacated alley lying adjacent thereto DJG 187194v3 A -E -A -1 RC125 223 CERTIFICATION BY COUNTY ASSESSOR The undersigned, having reviewed the plans and specifications for the improvements to be constructed and the market value assigned to the land upon which the improvements are to be constructed, hereby certifies as follows The undersigned Assessor, being legally responsible for the assessment of the above descnbed property, hereby certifies that the values assigned to the land and improvements are reasonable ILL. ounty Asse sor for the County of Anoka STATE OF MINNESOTA ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this 1/ day of \7I/ t e_ a00 / by .Ta 4 dice- hie- 4 4C 7 , the County Assessor of the County of Anoka l . JAN MARIE H HALDE , b , / / e . 4 - NOTARY PUBLIC Ni -i Public , •' My Comm Exp Jan 31 2005 (-os DJG 187194v3 A -E -A -2 RC125 223 11�� ABSTRACT Receipt # t/ 3a,So ❑ C e rt ified Copy Q / / /�� Date Ma Date/Time v DOCUMENT NO 1590973 0 ABSTRACT Doc Order 2 of ___.2___ ❑Tax Liens /Releases ANOKA COUNTY MINNESOTA ❑ Multi Co Doc Tax Pd ✓ by Pins I HEREBY CERTIFY THAT THE WITHIN INSTRUMENT WAS FILED IN THIS OFFICE di De s FOR RECORD ON AUG 01 2001 Recordability / 4 ❑ Transfer ❑ New Desc AT 5 00 0 P M AND WAS DULY RECORDED Filing Fees c3t1. /r.� ❑ Division ❑ GAC FEES AND TAXES IN THE AMOUNT OF $30 5 0 PAID Well Certificate ❑ Status ❑ Def Spec RECEIPT NO 2001074000 Received this Date Anoka County Recorder ❑ Other No Change MAUREENJ DEVINE / ANOKA COUNTY PROPERTY TAX ADMINISTRATOR /RECORDER /REGISTRAR OF TITLES Notes RP BY DEPUTY PROPERTY TAX ADMINISTRATOR /RECORDER /REGISTRAR OF TITLES FIRST AMENDMENT TO CONTRACT FOR PRIVATE REDEVELOPMENT THIS FIRST AMENDMENT, made and entered into as of the 23rd day of July, 2001 by and among the and the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a Minnesota public body corporate and politic (the "Authority' ), the CITY OF COLUMBIA HEIGHTS, a home rule charter city and municipal corporation under the laws of Minnesota (the "City ") and ROBERT C BARNICK and PRISCILLA A BARNICK, husband and wife (the "Developer ") WITNESSETH WHEREAS, the Housing and Redevelopment Authority in and for the City of Columbia Heights, Minnesota (the "HRA' ), the City, and the Developer did on September 12, 1995 execute and deliver that certain document entitled Contract for Private Development (the ' Contract' ), and WHEREAS, the HRA has conveyed its lights, interests, and obligations in the Contract to the Authouty, and WHEREAS, changes in property tax rates and a lower than anticipated base value of the property subject to the Contract have caused less tax increment than expected to be generated and paid pursuant to the Contract, and WHEREAS, the Authority, the City, and the Developer desire to extend the term of the Contract in order to provide for the potential generation and payment of additional tax increment than originally projected pursuant to the Contract and WHEREAS, the Authority and the City have reviewed this Amendment, have received the reports and recommendations of its staff and consultants, and have concluded that this Amendment is necessary and appropriate and in furtherance of the goals and objectives as originally set forth in the Conti act NOW THEREFORE, based upon the mutual covenants and undertakings of the pasties, the Contract is hereby amended as follows 1 The definition of Agreement' in Section 1 1 is amended to read as follows "Agreement" means this Contract for Private Development, as amended by the First Amendment to Contract for Private Development dated July 23, 2001, and as the same may be from time to time further modified, amended or supplemented 2 A definition of ' Tax Increment" in Section 1 1 is added to lead as follows DJG 1910192 1 CL205 9 "Tax Increment" means that portion of the real property taxes which is paid with respect to the Property and which is remitted to the Authority as tax increment pursuant to the Tax Increment Act 3 The definition of "Termination Date' in Section 1 1 is amended to read as follows "Termination Date" means the earlier of February 1, 2020 or the date that (i) the Developer has been fully reimbursed for Qualifying Reimbursable Costs pursuant to this Agreement, and (u) the Authonty has paid $60,000 in Available Tax Increment to the City pursuant to Section 5 3 of this Agreement 4 Section 5 3 is amended to read as follows Section 5 3 Qualifying Reimbursable Costs (a) Subject to the terms and conditions of this Agreement, the Developer will be reimbursed by the Authority for the Qualifying Reimbursable Costs, hereby defined as the following costs, which the Developer warrants that it has incurred and paid with respect to the Minimum Improvements Architectural and engineering fees $ 4,500 00 Project administration/site supervision 9,780 00 Building permit 1,200 00 Demolition of fence 750 00 Site clean up 1,800 00 Dumpster rental 1,200 00 Extenor lighting 2,560 00 Parking lot paving 8,750 00 Landscaping 1,000 00 Land Acquisition 18,876 67 Total $50,416 67 The Qualifying Reimbursable Costs will be paid by the Authority to the Developer, without interest thereon, in semi - annual installments payable on each February 1 and August 1 ( "Payment Dates ") commencing February 1, 2001 and concluding no later than the Termination Date These payments will be made from Available Tax Increment as defined in this Section 5 3 and from no other source (b) The term "Available Tax Increment" means 89 75% of the Tax Increment calculated by the County and paid by the County to the Authonty during the six months preceding any Payment Date, after first subtracting $1,840 28 that shall be paid by the Authority to the City as payment for $60,000 of the cost of the Authonty's acquisition of Parcel 1 from the City (such $1,840 28, plus any amounts previously due but unpaid on any Payment Date to the City by the Authority pursuant to this Section 5 3(b) shall be referred to herein as the "City Payment ") DJG 191019v2 2 CL205 9 (c) If on any Payment Date there is available to the Authority insufficient Tax Increment to make the City Payment, the amount of such deficiency shall be deferred and shall be paid, without interest thereon, on the next Payment Date on which the Authority has available to it Tax Increment m excess of the amount necessary to pay the amount of the City Payment due on such Payment Date (d) The Authonty shall have no obligation to pay any portion of the Qualifying Reimbursable Costs that remains unpaid after the Termination Date The Authonty may prepay all or part of the Qualifying Reimbursable Costs at any time (e) The Authority shall not be obligated to make any payment to the Developer under this Agreement if there is an Event of Default on the Developer's part under this Agreement that has not been cured (f) The Authority makes no warranties or representations that Available Tax Increment will be sufficient to pay the Qualifying Reimbursable Costs The Developer agrees and understands that Available Tax Increment is subject to calculation by the County and change in State law, and that a significant portion of Qualifying Reimbursable Costs may remain unpaid after the Termination Date The Developer further agrees and understands that estimates of Available Tax Increment provided by the Authority and its agents, officers, or employees are estimates only and not intended for the Developer's reliance (g) Notwithstanding anything to the contrary herein, the Developer acknowledges and agrees that (i) in no case shall it be entitled to receive more than $50,416 67 pursuant to this Agreement, (ii) in 1997 and 1998, it received $7,361 00 in Tax Increment as reimbursement for Qualifying Reimbursable Costs, and, therefore, (iii) as of and from February 1, 1999 until the Termination Date, the Developer shall in no case be entitled to receive more than $43,055 67 in Available Tax Increment in addition to the $7,361 00 it has already received 5 Exhibit E to the Contract, the Assessment Agreement, is deleted in its entirety and replaced by the Assessment Agreement set forth in Schedule A to this Amendment, and wherever used in the Contract, `Assessment Agreement" shall mean the Assessment Agreement set forth in Schedule A to this Amendment 6 Exhibit F to the Contract, the Repayment Agreement, is deleted in its entirety and replaced by the repayment obligation described in Section 5 3 to the Contract, as amended, and wherever used in the Contract, "Repayment Agreement" shall mean the repayment obligation set forth in Section 5 3 to the Contract, as amended 7 This Amendment shall take effect upon the execution of this Amendment and all Exhibits hereto by the Authority, the City, the Developer, and, to the extent necessary, by the Anoka County Assessor DJG 191019v2 3 CL205 9 8 Except as specifically amended herein, the Contract remains unaltered and in full force and effect 9 The Authonty or the City may record this First Amendment and the Assessment Agreement in the public land records in and tor Anoka County, Minnesota The Developer shall pay all costs for recording 10 This First Amendment, and the Contract, shall be construed in accordance with the laws of the State of Minnesota Any dispute arising from this Agreement shall be heard in the state or federal courts of Minnesota, and all parties waive any objection to the jurisdiction thereof, whether based on convenience or otherwise DJG 191019v2 4 CL205 9 IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the day and year first above wntten THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY BY 1 Its BY ##—V � Its J w • __ " d� STATE OF MINNESOTA ) ) SS COUNTY OF ) The foregoing instrument was acknowledged before me this 7 day of , 200 t , by ob er -A- R.v t-1,-\=\ (v�ox�h and L ( - __\ V S , the Q ke.„ and EKe< ,r of the Columbia Heights Economic Development Authonty, a public body corporate and politic under the laws of the state of Minnesota, on behal . f the Authonty f " Notary Public PATRIC " 1 4S' ,( ",, NOTAf■Y PUSL'' 'oguLSU ,2 My Comm E ; adr DJG 191019v2 5 CL205 9 THE CITY OF C • BIA HEIGHTS By (JV �J , •L Its 'n1 ark— By Its / � C', ¢ NN - y STATE OF MINNESOTA ) ) SS COUNTY OF ASK, ) The foregoing instrument was acknowledged before me this "3 day of ATI r% , 2001 , by G rLA Q��e�S ©n and hil � ��(' � �SA , the YY and CA mq 1^,ot the City of Columbia Heights, Minnesota, a municipal corporatiol under the la s o the state of Minnesota, on behalf of the Authority r( Afevo PA,TRICIP V MUSC ©'R 1Z t Notary Public NOTARY PUBLIC P,1 'i `)U ' My Comm Exp Jan DJG 191019v2 6 CL205 9 ROBERT C BARNICK / G ,y �., ;. l_ PRISCILLA A BARNICK STATE OF MINNESOTA ) ) ss COUNTY OF Qn.4 a ) The foregorn:; instrument was acknowledged before me this 23 day of , 20 o r , by Robert C Barnick and Priscilla A Barnick, husband and wife Notary Public � r07 w BEVERLY E JACKSON ■ d ... : Notary Public Minnesota ► My Commission Expires Jan 31 2005 This document drafted by Kennedy & Graven, Chartered 470 Pillsbury Center Minneapolis, MN 55402 (612) 337 -9300 DJG 1910192 7 CL205 9 SCHEDULE A DJG 187194v3 A _ 1 RC125 223 EXHIBIT E ASSESSMENT AGREEMENT THIS AGREEMENT, made and entered into as of the day of 20 by and among the and the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a Minnesota public body corporate and politic (the "Authonty "), the CITY OF COLUMBIA HEIGHTS, a home rule charter city and municipal corporation under the laws of Minnesota (the "City ") and ROBERT C BARNICK and PRISCILLA A BARNICK, husband and wife (the "Developer") WITNESSETH WHEREAS, the Housing and Redevelopment Authonty in and for the City of Columbia Heights, Minnesota (the "HRA "), the City, and the Developer did on , 1995 execute and deliver that certain document entitled Contract for Pnvate Development (the "Contract "), and WHEREAS, the HRA has conveyed its nghts, interests, and obligations in the Contract to the Authonty, and WHEREAS, pursuant to the Contract the Developer is obligated to construct, or has constructed, the Minimum Improvements (as defined 111 the Contract) upon the Property legally descnbed at Exhibit A hereto, and WHEREAS, the Authority, the City, and the Developer desire to establish a minimum market value for the Property and the Minimum Improvements constructed thereon, pursuant to Minnesota Statutes, Section 469 177, Subdivision 8, and WHEREAS, the Assessor for Anoka County (the "Assessor ") has reviewed the plans and specifications for the Improvements, NOW, THEREFORE, the parties to this Agreement, in consideration of the promises, covenants and agreements made by each to the other, do hereby agree as follows 1 The minimum market value which shall be assessed for the Redevelopment Property descnbed m Exhibit A, together with the Improvements thereon, for ad valorem tax purposes, shall be $227,000 as of January 2, 1996, notwithstanding the progress of construction of the Minimum Improvements by such date 2 The minimum market value herein established shall be of no further force and effect and this Agreement shall terminate on the Termination Date (as defined in the Contract) DJG 191019v2 A -E -1 CL205 9 4 Neither the preambles nor provisions of this Agreement are intended to, nor shall they be construed as, modifying the terms of the Contract 5 This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties 6 Each of the parties has authority to enter into this Agreement and to take all actions required of it, and has taken all actions necessary to authonze the execution and delivery of this Agreement 7 In the event any provision of this Agreement shall be held invalid and unenforceable by any court of competent junsdiction, such holding shall not invalidate or render unenforceable any other provision hereof 8 This Agreement may not be amended nor any of its terms modified except by a wntmg authonzed and executed by all parties hereto 10 This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument 11 This Agreement shall be construed m accordance with the laws of the State of Minnesota Any dispute arising from this Agreement shall be heard m the state or federal courts of Minnesota, and all parties waive any objection to the jurisdiction thereof, whether based on convenience or otherwise 12 This Agreement supercedes and replaces in all respects that Assessment Agreement by and among the Housing and Redevelopment Authonty in and for the City of Columbia Heights, Minnesota, the City of Columbia Heights, and , and Robert C Barrack And Pnscilla A Banuck, d/b /a Metro Assemblies, a sole propnetorship dated , 1995 and recorded among the Anoka County land records as document number DJG 191019v2 A -E -2 CL205 9 IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the day and year first above written THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY -A,/ . By If �'�i' �' ALJI! - ' Ors B y ,1 >�� Its • . _ - .reds - STATE OF MINNESOTA ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this 1 1 day of , 200 \ , by .JR,.\cist -gvz.Ai and , the r e . and Kec — or, of the Columbia Heights Economic Development Authonty, a public body corporate and politic under the laws of the state of Minnesota, on behalf of the Authority • r ' otary Public c SW =� kR "irq DJG 191019v2 A -E -3 CL205 9 THE CITY OF COL 'i: w HEIGHTS By ��y Its AUL By lie -7, Its e ¢� y ��✓ STATE OF MINNESOTA ss COUNTY OF ANOKA The foregomg instrument was acknowledged before me this `1 day of , 2001 , by Q Sa arid r si- , the` and C i of the City of Columbia Heights, Minnesota, a municipal corporation under the Livs of the state of Minnesota, on behalf of the Authonty n�`^a �A V MUS,, tart' Public PATRICIA NOTASY PUBLIC «t , My Comm Exp Jain DJG I91019v2 A -E -4 CL205 9 ` / ice ■ ROBER C BARNI K /' .17 'RISCILLA A B ' CK STATE OF MINNESOTA ) ) ss COUNTY OF ,q ,q ) The foregoing instrument was acknowledged before me this 1.3 day of TA, , 20 0 / , by Robert C Barnick and Priscilla A Barrack, husband and wife E 9-aCtra-c-tA-' Notary Public BEVERLY E JACKSON Notary Public y Minnesota My Commission Expires Jan 31 2005 This document drafted by Kennedy & Graven, Chartered 470 Pillsbury Center Minneapolis, MN 55402 (612) 337 -9300 DJG 191019v2 A -E -5 CL205 9 EXHIBIT A TO ASSESSMENT AGREEMENT PROPERTY LEGAL DESCRIPTION Parcel 1 All of Lots 29, 30 and 31, except the west 18 5 feet of Lot 31, Block 89, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota, together with the north half of the vacated alley lying adjacent thereto Parcel 2 The west 18 5 feet of Lot 31, Block 89, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota, together with the north half of the vacated alley lying adjacent thereto DJG 187194v3 A -E -A -1 RCl25 223 4 CERTIFICATION BY COUNTY ASSESSOR The undersigned, having reviewed the plans and specifications for the improvements to be constructed and the market value assigned to the land upon which the improvements are to be constructed, hereby certifies as follows The undersigned Assessor, being legally responsible for the assessment of the above described property, hereby certifies that the values assigned to the land and improvements are reasonable • 4111 ,11 /.4. ' ii. 'aka i • my Assesso !for the County of Anoka STATE OF MINNESOTA ss COUNTY OF ANOKA The foregoing instrument was acknowledged before me this 1/ day of \ f'jZ L°__ ,-,D p / by \/7 i e 17 , the County Assessor of the County of Anoka r`` JAN MARIE H HALDE /.4/7 — 01414 k NOTARY PU BLIC N .4 Public \ My Comm Exp Jan 31 2005 DJG 187194v3 A -E -A -2 RC125 223