HomeMy WebLinkAboutResolution - HRA 2003-01 - Memorial Blood Centers Project - 06/02/2003 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
H.R.A. RESOLUTION NO. 2003-01
RESOLUTION RELATING TO A PROJECT ON BEHALF OF MEMORIAL BLOOD
CENTERS AND ITS FINANCING UNDER MINNESOTA STATUTES, SECTIONS 469.152
TO 469.1651; CALLING FOR A PUBLIC HEARING THEREON
BE IT RESOLVED by the Board of Commissioners of the Housing and
Redevelopment Authority in and for the City of Eden Prairie (the "City"), Minnesota (the
"Authority"), as follows:
SECTION 1
Recitals
1.1. Pursuant to the authority granted by Minnesota Statutes, Sections 469.152
through 469.1651, the Authority is authorized to issue revenue notes in anticipation of the
collection of revenues of a project to finance the cost of acquisition, construction, reconstruction,
improvement, or extension thereof. The Authority proposes to issue its revenue note (the
"Note") for the purpose of financing a portion or all of the cost of a proposed project (the
"Project") on behalf of Memorial Blood Centers, a qualified 501(c)(3) organization and
nonprofit corporation of the state of Minnesota (the "Corporation"), consisting of (i) the
acquisition of a 26,722 gross square foot office building (the "Facilities") and 92,780 square feet
of associated land from Braun Intertec and (ii) conversion of the Facilities from an office
building and engineering laboratory to a central operating facility for the Corporation. The
Facilities will be owned and operated by the Corporation and are located at 6801 Washington
Avenue South in the City.
SECTION 2
Public Hearing
2.1. Pursuant to Minnesota Statutes, Section 469.54, Subdivision 4 and in
compliance with Section 147(o of the Internal Revenue Code of 1986, as amended, this Board is
required to conduct a public hearing on the Project and the financing thereof. A public hearing
on the proposal to finance the Project and to issue the Note is hereby called and shall be held on
July 1, 2003, at 7:00 p.m., at the City Hall, 8080 Mitchell Road, Eden Prairie, Minnesota, 55344-
2230.
2.2. The Executive Director shall cause notice of the public hearing to be
published in the official newspaper of the City at least once not fewer than fourteen (14) nor
more than thirty (30) days prior to the date fixed for the public hearing. The notice to be
published shall be in substantially the form attached as Exhibit A hereto.
Adopted this 2nd day of June, 2003.
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Attest: )
S eal, i e Di ector
Exhibit A
NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT AND THE ISSUANCE OF A
REVENUE NOTE UNDER MINNESOTA STATUTES, SECTIONS 469.152 THROUGH 469.1651,
AS AMENDED, ON BEHALF OF MEMORIAL BLOOD CENTERS
HOUSING AND REDEVELOPMENT AUTHORITY
CITY OF EDEN PRAIRIE,MINNESOTA
NOTICE IS HEREBY GIVEN that the Board of Commissioners of the Housing and
Redevelopment Authority in and for the City of Eden Prairie (the City), Minnesota (the Authority),will
meet on July 1, 2003, at 7:00 o'clock P.M.,at the City Hall, 8080 Mitchell Road,in Eden Prairie,
Minnesota, for the purpose of conducting a public hearing on a proposal that the Authority issue its
revenue note(the Note), under Minnesota Statutes, Sections 469.152 through 469.1651, as amended, in
order to finance, on behalf of Memorial Blood Centers, a Minnesota nonprofit corporation(the
Corporation)the cost of a project(the Project)comprised of. (i)the acquisition of a 26,722 gross square
foot office building(the"Facilities")and 92,780 square feet of associated land from Braun Intertec and
(ii) conversion of the Facilities from an office building and engineering laboratory to a central operating
facility for the Corporation. The Facilities will be owned and operated by the Corporation. The Facilities
are located at 6801 Washington Avenue South in the City.
The maximum aggregate principal amount of the proposed Note issue is$2,250,000. The Note
shall be a limited obligation of the Authority, and the Note and interest thereon shall be payable solely
from the revenue pledged to the payment thereof. No holder of the Note shall ever have the right to
compel any exercise of the taxing power of the Authority or the City to pay the Note or the interest
thereon,nor to enforce payment against any property of the Authority except the property pledged to the
payment thereof. Before issuing the Note,the Authority will enter into an agreement with the
Corporation,whereby the Corporation will be obligated to make payments at least sufficient at all times
to pay the principal of and interest on the Note when due.
A draft copy of the proposed Application to the Minnesota Department of Trade and
Economic Development for approval of the Project,together with draft copies of all attachments and
exhibits thereto, is available for public inspection at the office of the Executive Director,located in the
City Hall,between the hours of 8:00 A.M. and 4:30 P.M., on normal City business days.
All persons interested may appear and be heard at the time and place set forth above, or
may file written comments with the Executive Director prior to the date of the hearing set forth above.
Dated: June 2,2003
BY ORDER OF THE BOARD OF COMMISSIONERS
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