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02-24-09
City of Lakeville Economic Development Commission Regular Meeting Agenda Tuesday, February 24, 2009,. 5:00 p.m. City Hall, 20195 Holyoke Avenue Lakeville, MN 1. Call meeting to order 2. Approve January 27, 2009 meeting minutes 3. Presentation of 2008 Annual Report 4. Update on status of Broadband Feasibility Study 5. Director's Report 6. Adjourn Attachments: January 2009 Building Permit Report Dakota CDA January. 2009 Foreclosure Report "Investor plans new restaurant at Copper Bleu site in Lakeville", Minneapolis - St. Paul Business Journal, February, 13, 2009 "Dakota County rapid transit project still on schedule," StarTribune.com, February 8, 2009 "Minnesota businesses/employers pay `special' property tax," Minneapolis - St. Paul Business Journal, January 30, 2008 N r City of Lakeville Economic Development Commission Meeting Minutes January 27, 2009 Marion Conference Room, City Hall Members Present: Comms. Matasosky, Starfield, Schubert, Erickson, Emond, Brantly, Vlasak, Tushie, Ex-officio member Mayor Holly Dahl, Ex-officio member City Administrator Steve Mielke, Ex-officio member Chamber of Commerce Executive Director Todd Bornhauser. Members Absent: Comm. Smith Others Present: David Olson, Community & Economic Development Director; Adam Kienberger, Economic Development Specialist. 1. Call Meeting to Order Chair Matasosky called the meeting to order at 5:00 p.m. in the Marion Conference Room of City Hall, 20195 Holyoke Avenue, Lakeville, Minnesota. 2. Approve November 25, 2008 .Meeting Minutes Motion 09.01 Comms. Emond/Erickson moved to approve the minutes of the November 25, 2008 meeting as presented. Motion carried unanimously. 3. Election of Officers After'a brief discussion, Chair Matasosky asked if anyone was interested in being an officer for the EDC. Comm. Tushie stated that he would be willing to be Vice Chair since former Vice Chair Barry Pogatchnik resigned from the EDC at the end of 2008. Motion 09.02 Comms. Emond/Vlasak moved to re-elect Jack Matasosky as Chair, elect Gary Tushie as Vice-Chair, and re-elect Bob Brantly as Secretary for 2009. Motion carried unanimously. 4. Review and Discussion of the 2008-2010 Strategic Plan for Economic Development Work Program for 2009 Economic Development Commission Meeting Minutes January 27, 2009 David Olson provided updates on the progress of activities targeted in 2008 as part of the Work Program. Mr. Olson discussed the County Road 70 interchange project, Urban Partnership. Agreement grant and corresponding transit projects, the .2008 Comprehensive Plan, new housing projects, the status of the broadband feasibility study, and partnerships/coordination with the Downtown Lakeville Business Association. Mr. Olson continued by outlining the goals recommended by staff to be pursued in 2009: Transportation O Complete the County Road 70 Interchange.. O Complete the construction of transit facilities and implementation of services by the end of 2009. O Participate in the Airlake Airport and MAG's Comprehensive Plan implementation as it relates to the realignment of Cedar Avenue. Life-cycle Housing O Help the City achieve reasonable and realistic housing goals that balance the need for different housing types for residents. O Help the City create a workforce housing approach that reflects the needs of business. Technology D Advocate for Lakeville to become a leader in telecommunications services. Growth Management Continue to define and.. provide .the. information future businesses and .:developers need in order to decide to locate in Lakeville.. D Provide input on the Zoning Ordinance update being completed as a result of the approved Comprehensive Plan Update. Communication O Create a single effective message/platform about economic development. O Create and begin to implement marketing strategies. Partnerships ~ Develop and enhance partnerships whenever possible to achieve EDC goals. 2 Economic Development Commission Meeting Minutes January 27, 2009 Comm. Tushie asked about the proposed economic stimulus package and if Lakeville is positioned to receive. any of the money. Steve Mielke responded that the State Transportation Improvement Plan (STIP) might be first to receive and. potential stimulus dollars for State projects. Money might then be funneled through MNDOT for local projects. Highview and Holyoke Avenue have been identified as the priority projects in Lakeville. Adam Kienberger talked about Lakeville's partnership with the cities of Burnsville and Rosemount to do a joint marketing effort at the IAMC conference in the fall of 2009. This opportunity is available because Lakeville is a member of the Positively MN marketing group, the State's marketing group run by the Department of Employment and Economic Development. Mr. Olson mentioned that the City has also applied for a planning grant through the Dakota County CDA to do some additional planning in Downtown Lakeville. We will likely hear back on the status of the grant in mid-February. Chair Matasosky asked if there has been any progress made on getting a local representative on to the Vermillion Rivershed Joint Power Organization (VRJPO). board as this was a goal of the 2008Work Plan. Mr. Olson responded that while there is not currently an EDC member on this board, Ron Mullenbach of D.R. Horton is currently on the board as a Lakeville area representative. 5. Update on Economic Impact Analysis In response to questions on an economic impact analysis from the EDC at the last meeting, Mr. Olson gave a presentation on property taxes and tax rates. Mr. Mielke discussed the City budget and the impacts the .State cuts are having on Lakeville. Comm. Brantly asked about impacts of rising unemployment on Lakeville. Mr. Mielke responded that it's hard to predict the impacts because they tend to have a largely regional influence. 6. Director's Report Mr. Olson reviewed the Director's Report. 3 r` Economic Development Commission Meeting Minutes January 27, 2009 7. Adjourn. The meeting was adjourned at 6:15 p.m. Respectfully submitted by: Penny Brevig, Recording Secretary Attested to: R. T. Brantly, Secretary 4 rem No. ,3 City of Lakeville ' ~ Community and Economic Development Memorandum To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Steve Mielke, City Administrator Adam Kienberger, Economic Development Specialist Date: February 20t", 2009 Subject: Presentation of 2009 Economic Development Annual Report Staff will be presenting the 2008 Annual Report at the February 24t" meeting. This report will be presented to the City Council at their March 2"d meeting. A copy of the presentation is attached. • ` City of Lakeville 2008 Economic Development Annual Report • Best Places to Live • Lakeville was rated as one of Money Magazine's "Best Places. to Live" in 2008 • Ranked number 26 ~- ~..~"~`°'`- '~~ ~~ '~ ,,. s`~ ~~:, .,.. ;.,.,~~.T`~, s~~.~ ~ .. -~~-: ~•. City of Lakev~7le 1 • 12008. Development • Total Permit Valuation = $125,760,060 • $140,258,386 in 2007 • $173,001,636 in 2006 • Commercial & Industrial • 64 Building Permits Issued • 104 in 2007 • 100 in 2006 • Permit Valuation = $33,999,900 • $44,098,100 in 2007 • $40,823,500 in 2006 "T ~ City of I.akev~lle :~,, • 2008 Development • Residential • 416 units • 378 in 2007 • 444 in 2006 • Permit Valuation = $71,312,000 • $72,128,000 in 2007 • $101,474,953 in 2006 "-''~ City of Lakeville 2 • Building Permit Comparison Commercial Industrial Residential 200 150 Valuation of Permits in 100 - Millions 1 ~ 50 ~ ~ - - ~ .. 0 'L~~O ti~~~ ti~~~ ti~~~ ti~~~ ti~~~ ti~~b ti~~1 ti~~~ Year ``=c ''~-~7 City of Lakeville • C/I Permit Comparison Commercial Industrial 40 ~ 35 30 ~ - Valuation of 25 ] - Permits in 20 Millions 15 10 - ~_ 0 ~ ~ h ,+ ~ W 'L~~o ti~~~ ti~~~ ti~~~ ti~~b ti~~~ ti~~b ti~~1 ti~~~ Year °~>- ~~ City of Lakeville 3 • 2008 Residential Development • 137 Single Family permits issued • 36 Townhomes • 1 Detached Townhomes ''~`~~ City of Lakeville =" _.~ ._ -- - - -~ :_ ``~ ,- ~~, • ~ 2008 Residential Development • 242 Apartment Units • Highview Hills • Crossroads Commons ;..~ "~~ City of Lakeville 4 Lakeville Housing Trends (1980 -Present) looo 900 800 700 600 tSF Units ~ -~-TH Units ~ 500 ~S ~-ppt. Units ] 400 -+-Total Units 300 200 100 0 6~ 6161' 6~ 6~`666b 61 666q q~q1 q1'q~ qa q6 q6 q1 q6 qq O~ 0101 O~ Oa OS Ob 01 06 ,,q ,~q ,~q lq ,~q .~q ,Yq 1q ,~q '1q yq 1q 1q 1q ,~q 'lq 1q 1q ,~q .~q ,yo ,10 10 ,y0 10 ,yo 'yo '10 14 Year "~~ ~ City of Lakeville Lakeville- Housing Trends (2000 -Present) IooO 900 800 700 600 -~-SF Units p~j -NTH Units g 500 •~ -tr-Apt. Units U 400 ~-Total Units 300 200 100 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 Year { -_=~ City of Lakeville 5 Metro Housing Units e Comparison Bloomington __.- I 1 ~. I I Minneapolis ~ I - - ~ -- I Lakeville I Woodbury T~ Maple Grove - I Blaine Hugo Edina _.. Plymouth St. Paul 0 100 200 300 400 500 2008 Housing Units z 4~._. City of Lakeville • ~ 2008 Commercial Development • Brunswick Zone XL/Kent 46 Office I `., ~,~ City of Lakeville . ~~ ~i 6 • Projects Include: • Brackett's Crossing expansion • Primrose School ... l~ - i i ~.. r ,~~_-., ~. r ,, _~ ,, ~: r': `~-~ City of Lakeville ~.~ ni ® Projects Include: • Timbercrest o :~. ° ~,~,~ • Buffalo Wild Wings ~-~ d .6.'+~~. kkt 1 1~ _ . g ~_. • Crossroads East - ~~~~-~fiw • Subway • Kindercare • Heritage Commons 3ra °' ~ " City of I,akevdle _.. -- ~~. S.:C _ ~ ~ ~. ~, ~ .llti 7 • 2008 Industrial Development • Over 567,000 square. feet of new development in First Park Lakeville • Uponor • Warehouse distribution facility ~!' ~:af.. 'i!~ ll ~~ . ~~~ q'?~z: City of Lakeville ~- n, ~~ ~1. ~~~, _ • Projects Include: • Mendell Machine expansion • Airlake South Creek Business Park • Hearth & Home Technologies relocation 1 [~'. _~~ ~¢~ ~`~~_ - ,:.~ ~~ . ~`" }~ ;h`~i ' -~. -~ City of Lakev~le 8 • Market Plaza • Downtown Lakeville • Dakota County CDA TIF • Dakota County CDA Redevelopment Grant • Dakota County SWCD Grant ~;,., , P ~ E...~ r l: w '~' ~. ,. - _ .~ _ b ~ , ._ . . ..~ ~_ ri .. `~'' City of Lakeville ~:' • Downtown Redevelopment • Holyoke .Plaza • Mainstreet After Hours h; City of Lakeville 9 • Interchange Improvements • CSAH 70/I-35 - ~,-_ _ _ ~~V. "_ {.n 1411@.! ~~~e _.. L``_ ~cr ~ ~ ~ ~ N e ' ~r. y - ~ ~ ~ g ~~~P I~ ~'~{ 5k ~ ~y; , ~ ~ 4 ~ City of Lakeville • Airlake Annexation • Annexed approximately 100 acres to industrial park ~~ - '~ i,. ~ '_ ~', «y z ~~ ~~~ ti~~ .y- a . ~ , , ~: S r i ~ 1„ ~t~k_~- °C~S ~ - r. ~~ ~ 1, City of Lakeville l~ ® Transit • Kenrick Avenue Transit Station • Cedar Avenue ''~a ``` Park and Ride `~ ~` "~°"' ~_ m ~, ..~ r G R .4 1~__ fK '_`_'' City of Lakeville a • EDC Initiatives • Spotlight on Business Program • Business Retention Program • Manufacturers Week • Continuation of Development Project Feedback Surveys - ~'~'' City of Lakeville 11 • EDC Initiatives • Lakeville Business News -Online • Website information .r:, -. -~Tf- ~~ t rY ~~-~;. City of Lakeville ® I EDC Initiatives • Broadband feasibility study • Interconnection of City facilities • Possible extension of services to Airlake Industrial Park and Fairfield Business. Campus -« City of Lakeville 12 • EDC Initiatives • Proposed 2009 Work Program • Complete the County Road 70 Interchange. • Complete the construction of transit facilities and implementation of services by the end of 2009. • Participate in the Airlake Airport and MAC's Comprehensive Plan implementation as it relates to the realignment of Cedar .Avenue. • Help the City achieve reasonable and realistic housing goals that balance the need for different housing types for residents. ,~~, :-,w City of Lakeville • EDC Initiatives (cont.) • Help the City create a workforce housing approach that reflects the needs of business. • Advocate for Lakeville to become a leader in telecommunications services. • Continue to define and provide the information future businesses and developers need in order to decide to locate in Lakeville. • Provide input on the Zoning Ordinance update being completed as a result of the approved Comprehensive Plan Update. t `=`~- City of Lakeville 13 • EDC Initiatives (cont.) h ~:. - -~ City of Lakeville • Create a single effective message/platform about economic development. • Create and begin to implement marketing. strategies. • Develop and enhance partnerships whenever possible to achieve EDC goals. 2008 City of Lakeville Economic Development Annual Report 14 gem No. ~- City of Lakeville Community and Economic Development Memorandum To: Economic Development Commission From: Adam Kienberger, Economic Development Specialist Copy: Steven Mielke, City Administrator David L. Olson, Community & Economic Development Director Date: February 20, 2009 Subject: Broadband Feasibility Study Update The City Council approved a contract with CCG Consulting, LLC at their February 17, 2009 to conduct a revised broadband feasibility study detailed in the attached proposal. The original request for proposals for a broadband feasibility study had two components: The first component would look at the feasibility of installing City owned fiber to connect City facilities and determine whether this is more cost effective than the current (or future) fiber lease agreement the City has with a private service provider. The second component of the study would look at-the feasibility of providing fiber to the premise (FTTP) throughout the entire City. Staff interviewed three firms of the seven that submitted proposals. After completion of the interviews, staff requested a revised proposal from the CCG Consulting, LLC to do the first component of the feasibility study and also look at the feasibility of extending fiber to provide broadband services to the Airlake Industrial Park area and possibly the Fairfield Business Campus areas only. This request was made as a result of the 2009 Budget revisions that are currently being considered. The revised proposal from CCG would complete the. revised feasibility study for a fee not to exceed $10,950. CCG will begin work on the revised study in early March. Staff also continues to stay active in several broadband groups and. will continue to monitor the broadband-and technology environment and its potential impacts to the Lakeville business community. REVISED RESPONSE TO: REQUEST FOR PROPOSAL FOR THE CITY OF LAKEVILLE, MN For a Broadband Feasibility Study Presented By: CCG Consulting, LLC ^ _ W __w CCG Coh1SULTtNG LLC January 26, 2009 Mr. Adam Kienberger Economic Development Specialist City of Lakeville 20195 Holyoke Avenue Lakeville, MN 55044 RE: Revised Response to City of Lakeville Broadband Feasibility Study Dear Adam:. Per our conversation of last week, following is a revised proposal on behalf of CCG Consulting, LLC ("CCG") to complete a portion of the larger project defined in the original RFP. This particular work would be performed all by CCG and would not include Hiawatha Broadband Communications, Inc. Specifically, this project involves quantifying the impact of replacing the Charter network with a City network, designing a fiber route that would replace their network plus would add on two business parks, and looking at the ability of the network to pay for itself through savings and/or new revenues. Our response provides one option, which is to estimate the cost of the new network with and without a visit by a CCG engineer. We have .often done such analysis without a live visit and we know we can produce a reliable estimate of the cost of building fiber without being in the City. However, our clients often want the extra assurance that comes from a local analysis of the situation. Our original proposal assumed that the engineer would make a visit to perform this task while also looking at the cost of designing fiber throughout the City. Thus, we had included some of the cost of this analysis in the larger engineering project proposed in the first RFP response. CCG Consulting, LLC would like to thank the City of Lakeville for the opportunity to respond to this RFP. We are confident our experience and thorough approach will result in solutions that are accurate, efficient, cost effective, and most importantly accomplishable. Our combined skills and traditions of high quality will ensure that Lakeville will receive the best value for the investment. We look forward. to working with you, and we trust that the proposal that we have submitted with this letter is fully responsive to your needs and requirements. Should you have any questions or need additional information, please call. Sincerely, Doug Dawson CCG Consulting, LLC 7712 Stanmore Drive Beltsville, MD 20705 202-255-7689 Proposed Tasks: 1. To determine if it is cost effective for the City of Lakeville to pursue the construction of a fiber- based network to interconnect City facilities. Also, design the fiber network to serve several business parks in .the City. Outcome: Cost analysis of the current City / Charter Communications lease compared to the cost of building, owning and maintaining a City fiber- based network to serve City facilities. Also, a small business plan defming the impact of serving businesses. CCG proposes the following to accomplish this task: a. Analysis of the current fiber lease costs from Charter Communications used to provide an INET for the City locations identified in the RFP. b. An analysis to see if there are additional City locations that might be placed on a fiber network if the City was to own the network. c. An analysis of the cost of adding two business parks to the fiber network to support economic development and to serve large data pipes to businesses. d. An analysis of current data prices in the City and a list of expected enhanced services that could be provided to these additional locations and to businesses if the City connected them to a new fiber network. e. An analysis to explore potential partnership opportunities with .Independent School District 194 and Dakota County. £ An engineering analysis of the capital cost of building a fiber network. The capital cost would provide for the cost of building fiber plus the associated electronics needed to operate the fiber network. CCG would propose to develop. these costs in two steps. First would be to duplicate the existing Charter network in terms of City locations served. Second would be to look at the additional cost needed to add additional City locations to a fiber network. Third would be the cost of building to and serving the business parks specified by the City. g. A cost benefit. analysis comparing the cost of building a fiber network plus any ongoing annual expenses needed to operate the network compared to the cost of maintaining and renewing the Charter leases. This cost benefit ..analysis would estimate the annual cost of operating a fiber network and also calculate the number of years it would take for the City to breakeven with the net network compared to maintaining the Charter lease arrangement. h. A small business plan showing the expected costs and revenues associated with serving the City plus some businesses along with a breakeven analysis of how such a network will pay for. itself over time. CCG will work with City staff to understand the existing Charter lease arrangement and costs. We will further work with the. City staff. to understand if there are any additional City locations that might benefit from being added to a City-owned fiber network. We have provided two prices for engineering effort. In the lower price effort, a CCG engineer will do the engineering analysis without visiting the City. We have various mapping tools that should allow us to understand the cost of providing fiber on the needed routes, assuming we can get some assistance from the City engineer or other City employees to fill in any knowledge we might need. We also provide a second option that includes our engineer coming to the City to look at local conditions that would impact fiber construction costs. In looking at a City-owned fiber network CCG will look at several network configurations. The design goal of the fiber network would be to serve the same places served today by Charter (but not necessarily following the same streets for fiber construction). Further, we would add to the network the Page ~ 2 two business parks specified by the City. Finally, we would consider the ability of any network designed to be eventually expanded to be part of a FTTH network. We would make sure that any routes built have sufficient fiber pairs, designed access points and other features needed for a larger network. Since there are several advantages to creating a fiber ring for this type of service, we will consider creating a fiber ring configuration when possible. A fiber ring will provide full operational redundancy so that a fiber cut will not disable the network. Further, a fiber ring would be a better starting point should the City decide to later serve business customers or else get into a Citywide FTTP deployment as discussed in the next task. We don't want to assume that the City will automatically opt to immediately get into the FTTP business. Instead, the City is going to want to consider the intermediate task of using a fiber network for the dual purposes of saving money for the City as well as providing an economic development tool by serving businesses in the City. Thus, any network configuration we consider will include the ability to be expanded to serve businesses or FTTH. We would want to make sure that any fiber built to serve city locations was robust enough, and in a configuration to later be used for these expanded purposes. The final results of our engineering analysis will be a cost estimate of the cost of building each configuration that we considered along with a recommendation of the best configuration in terms of functionality. We will provide details of all assumptions used in determining the costs. We may contemplate several different technologies for the network electronics, and if so will describe each option we considered. As described above, the cost benefit analysis will begin with an analysis of the cost of the .current arrangement with Charter Communications. Further, to the extent that the City wants to contemplate adding additional City locations to the fiber network we will investigate the cost of providing services to those locations today. The cost benefit analysis will also estimate the ongoing cost needed to maintain and operate the fiber network. Finally, we will compare the costs of the. City operating and owning the network to the cost of leasing the network from Charter. We will provide a separate comparison for the two scenarios being considered -matching the current. Charter network and serving more City locations. We will compare how long it would take the City to break even by owning your own fiber network compared to maintaining the Charter lease. Finally, we will provide a small business plan that begins with replacing the Charter network and that also looks at the potential costs and revenues that would derive from selling data to the two business parks specified by the City. This business plan will include a full set of financial statements and would be bank ready and budget ready if you decided to move forward with the project. Our Deliverables: a. An engineering analysis showing the cost of building a fiber network. These capital costs will be shown for two scenarios. First we would look at the cost of duplicating the existing Charter network and service the same City locations served today by Charter. Second, we would look at the incremental capital cost of adding additional City locations and the two business parks to the network as specified by the. City. The engineering analysis will provide an overall cost estimate of fiber and associated electronics. We will provide a detailed list. of the assumptions used in determining the capital costs. We will also investigate .several network configurations that make sense to us. All network configurations will consider redundancy as well as the capacity of the fiber network to be expanded to serve more of the City. b. A cost benefit analysis that compares the cost of maintaining and renewing the Charter lease- . compared to the cost of the City. building and operating a fiber network. We will provide a list of all assumptions made in the comparison. CCG will estimate the ongoing cost to operate Page ~ 3 a City fiber network. CCG will also express the .comparison between the two alternatives in terms of the years for the City to break even compared to the cost of staying with Charter. c. A small business plan that shows the overall costs of operating this network over time plus the expected revenues that might come from selling data to business customers. This business plan will include full financial statements and will be banker and budget ready. Cost of Pr~oiect Following is a description of the proposed costs to be charged to the City of Lakeville. Note that these are all fixed cost estimates. Cost Benefit Analysis of City-only Fiber Network Evaluate Charter lease; design a fiber network to serve the City, two business $ 7,500 parks and adding City locations not served today; provide cost benefit analysis of replacing Charter with the network. Business Plan for Serving Business Customers Determine long-term revenues and expenses from operating the network- $ 750 EnQineerin~ Visit Engineering visit as part of the analysis. $ 1,500 Total Proiect Fixed Price with En~ineerin~ Visit $ 9,750 Travel Expenses We would bill actual travel expenses as incurred, without markup. We never take travel without the client's permission. For this project we estimate that travel expenses would not exceed $1,200. If you don't elect the optional engineering, there would be no travel expenses. This is a fixed bid project at the above quoted prices plus travel expenses. We would not be billing hourly for any of the above tasks. We anticipate that these tasks will take us more hours than is anticipated by using our normal hourly rates, meaning that this project is set below our hourly rates. We will put sufficient hours into the project to complete it to the City's satisfaction. Page ~ 4 .. ~.-- 1Vo. City of Lakeville ` Community and Economic Development Memorandum To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Steve Mielke, City Administrator ..Adam Kienberger, Economic Development Specialist Date: February 20, 2009 Subject: February Director's Report The following is the Director's Report for February of 2009. Building Permit Report The City issued building permits through January with a total valuation of $2,781,080. This compares to a total of $2,407,335 in 2008. Included in this valuation were commercial and industrial permits with a total valuation of $611,000. This compares to a total valuation of $18,000 in 2008. The City issued permits for 5 single family homes in January with a total valuation of $1,527,000. This compares to 3 single family home permits in January of 2008 with a total valuation of $781,000.. The City issued permits for 0 townhome and condo units in January which compares to 3 townhome and condo permits issued in January of 2008. Dakota Electric Association Partners in Progress Event Dakota Electric Association will be hosting this annual event on Wednesday, March 18th 2009 starting at 4;30 p,m, at the Roya/ C/iff in Eagan. Please let Adam or I know if you plan to attend no later than March Stn Development Update The new Buffalo Wild Wings restaurant opened in TimberCrest this past Monday. The new retail buildings in the Crossroads Center at Cedar and Dodd and Heritage Commons are also nearing completion. Construction has also been completed on the First Park Lakeville buildings located at the intersection of Dodd Blvd. and County Road 70. Uponor plans to be operational in their building in First Park Lakeville by April 1~. Construction continues on the Primrose Daycare building on Co. Rd. 46 adjacent to Lakeview Bank. EDC Appointment The City Council has decided to interview additional candidates to fill the vacancy on the EDC as well as several other boards and commissions. These interviews have not been scheduled but should take place soon. Foreclosure Uadate Attached is the monthly update on foreclosures in Dakota County provided by the Dakota County CDA. There have been 19 Sheriff Sales as a result of foreclosures in Lakeville in January. The total for 2008 was 286. The Building Inspection Department is currently monitoring approximately 176 vacant foreclosed homes in the City. Transit Station Development Updates Attached is a copy of this week Messages that provides an update on the status and schedule of the Kenrick Avenue Park and Ride project. The Metropolitan Council is also in negotiations with Joe Miller to acquire an 8 acre parcel on Cedar Avenue south of 1791 Street. The plans are to construct a 200-250 stall surface parking lot to serve as a Park and Ride on Cedar Avenue. 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O O ~ ~--~ O N O N N 0 0 ~--` X 0 0 ~7 00 ~~ w ~- O O cn 0 0 00 0 0 0 v~ .~ N r~ J ~ N ~+ W J ~--~ w ~1 Cn ~ N N N J W W J to N S W W ~ W ~O W J W J O O O O O c.n O Cn ~D O O ~O ~O O O W Q~ O O~ Oo ~O O O W O O W O O O ~O N~~ ~~ 0 0 O 0 0 O 0 0 O O O cnv~ C O to 0 0 0 cn c.n 0 0 0 0 ~O C O O cn vi in O U ~-+~ O O O O O O O O O 0 0 0 0 0 0 O 0 0 0 0 0 0 0 O O O O~ O O C O O O C O O ~ ~ W N ~ p~ vi J N J ~ ;--~ N - ~ ~ oo O ~ O lv O O~ •P ~ O O O O O O O O O 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 0 o 0 0 0 0 0 0 0 0 O C O C O C 0 0 O O O C CO 0 0 O 0 0 0 0 0 0 0 0 0 0 C O O C O 0 0 0 0 0 O O O O O O O O O 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 0 J J O O O O O 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O 0 0 0 0 0 0 O O O O O 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 o ~ ~ r. 0 m N O O O O O O O O O O O O O O C O O O O Feb. 20, 09 • ,,~~, Meetings ~ Construction to begin Feb. 23 Council Work Session, A Metro Transit project to construct a 750 stall Park 5:30 p.m. & Ride parking ramp at the old weigh station site on Feb. 24 Economic Development Kenrick Avenue is scheduled to begin on March 2. Commission, 5 p.m. Meetings are held at City Hall, 20195 Holyoke Ave. unless otherwise noted. Upcoming City events Noon-2 p.m., Ritter Farm Park Apr!. '~ ~ Roadside'V4~atershed Uean~ip Day 9 a.m: noon. Volunteers needed, call 952-985-4500. March 2 on Park & Ride Construction of the $8.3 million project is expected to be completed by Sept. 11. A parking lot currently exists at the site, serving as a designated Park & Pool lot (park your car and carpool with someone). The lot will be closed beginning March 2. Drivers who have used this parking area may use the parking lot at the weigh station on the west side of I-35 or the Park & Pool lot on County Road 60, o(f of Kenrick Avenue, south of 185th Street near the northbound exit ramp. Metro Transit will be placing informational flyers on cars in the current lot. The project is being constructed in preparation for bus service which will began this fall. April 26: Ironman Bike Ride Register at ironmanbikeride.org. N,1ay 1 v: Citywide Garage Sale Register at www.lakevillemn.gov. Sept. i 9 ~ 20: Lak~_~vill~ Art Festh~al Visit wwwlakevilleartfestival.org for more information. Find other City events using the online Calendar of Events at wwwlakevillemn.gov. k.- ~'= Winter Parlaing Winter parking re- strictions are now in effect. No on-street parking from 2 a.m. To 6 a.m. every day NO or when ti's snowing, ON STREET until the streets have ?^M KID been cleared. NOV1 "P"' For up-to-date snow plowing information, call 952.985-PLOW (7569). During a snow event, in- formation is updated every hour. The structure will contain three levels of parking and will contain an elevator, two stairways and adrop-off area. For more information on the transit proposal and the Park & Ride station, go to the City website at www. lakevillemn.gov, and click on Transit Proposal and I-35 Park & Ride, listed in the For Your Information section on the home page. Learn to Skate programs begin March 7 and 10 Registration has begun for the Learn to Skate program at Lakeville Ames Arena, 19900 Ipava Avenue. Sessions will begin on Saturday, March 7 and Tuesday, March 10. The Learn to Skate program is geared toward recreational skating and includes sessions for all ages and skill levels. Each eight-week session will include both lesson time and practice time. Instructors will follow each skater's progress to determine when they are ready to advance a level. Session levels include: P.A.L.S. (Parents and Little Skaters) For three- and four-year olds, teaches the parent how to teach their child to skate. Pre-hegaruier For three- and four-year-olds with little or no skating experience. Beginner For skaters age five and older with little or no skating experience. Advanced Beginner A (Levels ? -3 j Advanced Beginner 8 (Levels 4-0) These two sessions will help skaters with basic elements of figure skating, including jumps, spins, and crossovers. Pre-hockey {Mite level) Advanced Pre-hockey Both levels are designed to develop hockey skating skills (skill sessions only, no hockey will be played). Classes are $80 per eight-week session, P.A.L.S. session is $110. For registration information and time schedules, go to wwwlakevillearenas.org. If you are unsure of which level to register, call Lakeville Arenas at952-985-2170. Construction of a new Park & Ride parking ramp on Kenrick Avenue (shown above) will begin on March 2. Dakota County Community Development Agency To: Dakota County Cities From: Dan Rogness, Director of Community Revitalization Date: February 18, 2009 Re: Foreclosure Update The CDA is holding the first Foreclosure Counseling & Information Workshop of 2009 on Saturday, February 21. The event is being held from I I a.m. to 2 p.m. at the. Farmington Library located at 508 3~d St. in Farmington. The CDA has begun the process to acquire vacant, bank-owned homes using the federal Neighborhood Stabilization. Program Funding. Below is an example of a home that is for sale, which demonstrates the dramatic value decrease in foreclosed-upon homes. ^ Sold on 2/ I /07 = $208,000 ^ Sheriff Sale on 4/ 10/08 = $ I 14,705 ^ 2009 County Estimated Market Value = $ 160,900. ^ 2009 Independent Appraised Value = $52,000 ^ 2009 List Price = $39,900 (77 percent of appraisal) HCIA~E Dakota County ~ 1~ ~'`` ~ ~ -`' ~ i ]' Community Development Agency ~~~~~~~~ Dakota County Stats -January 2009 • # of Sheriff Sales in January - 14 I (compared to 228 in January 2008) • # of Notices. of Pendency Filed in January. - 300 A Notice of Pendency is filed by a mortgage company's attorney as official notification that the foreclosure process has begun. Not all of these result in sheriff sales. Pages 3 and 4 of this PDF file have Sheriff Sale and Notice of Pendency statistics for each city. Mapping .Using Dakota County GIS http:/1gis.co.dakota.mn.us/website/dakotanetgis/ The Dakota County Office of GIS is updating the 2009 Foreclosures and Notice of Pendency layers on a monthly basis. If you need assistance using this Web page, please call Randy Knippel or Mary Hagerman with the Office of GIS at (952) 891-7081. In The News Provided in this PDF file are a few notable foreclosure articles that were published in the last month. Among the points of interest: • A year-end wrap-up that described the record number of sheriff sales that occurred in Dakota County during 2008. • An article that details how the foreclosure crisis has affected the Twin Cities housing market -both negatively with falling home prices, but also positively since homes are now more affordable than they've been in years. Homes in foreclosure or on the verge of it tapered a bit in the fourth quarter of 2008, highlighting what realtors called a hopeful sign for the Twin Cities housing market. Minnesota Attorney General Lori Swanson filed lawsuits against two Florida companies that she said have promised troubled Minnesota homeowners relief against foreclosure, but have failed to deliver. The article touches on the problem of individuals or companies who have taken advantage of troubled homeowners by charging up-front fees to help the homeowners avoid foreclosure. If you have any other concerns, please call me at (65 I) 675-4464 or send me an email at drognessCii)dakotacda.state.mn.us. _ ~' _°~ c ~~ ~ ~ ~ ~ ~ ~ ~ ' ~ `~ T • U • v <~ Q • +., • c . v~ E. OQ . /~ ~~ T 41 • ~~• ~ ~ ~ >. • ~° a,~. ~~. ~ ~, Y~; ~V ~ o -. D t~ • ~ ~n a~ ~ N O v ~ i ~ ~ ~ s ~i ~ Vf G OMO ~ ~ ~ ~ N ~ ~ N C ^ ul ^ ^ ~O N N N N - - - N - - - N O O O N I~ N O N ~ ^ O O~ - - _ ~!1 - - ~ N u O Z V 0 1.+ d N bA Q 3 ~, 1 (~ s a. Q L a~ LL N N N C~ 1~ O ~ - _ ~ - - ~ _ ~~ s ~` ~ c _ O .~ O _ 3 ~ a ~ ~ a~ > 2 = a O C ~ .~ O ~+ ~' .d O ~ ~ +s' H id ~( Q m W tL = ~ J ~ ~ Vf ~ Vf O N U •~ N y C O u ai c c U~ a^ N ~ 1 ^ N C y) _v Cd C V H i Q ~ D tC U ~ N s p ~"' Y a.+ ~ 7 ~ ° 3 c 0 •,~ /CC Vl C ~ C d 0 E 0 ~` ~. _ ~~ ~ ~ e~ z ~ ~ f {~~,~ r-., ~ J '~..+ ~ U ~ a~ a ~• ~. E' O ~ ~ > ~ _ ,~.~,l .~ +.r ~`.. ~ • V. O ~ • U ~ ~ (,~ ~~+ ~ _ ~ p • ~ 0 >C~J ~ C d7 a w O '~+ O Z o~ O ~D M 1~ to 00 M - M ~ - .D - 00 ~ ~ ~ OD - M - ~O - c '' M u a~ O O Z u a w ` W w ,,w Yl 00 a C i Q i a~ LL M L/1 M M ~ ~ ~ ~ C~ OD M ~O M -. VI ~+ da H ~ s ~ _ _ d ~ .~ ~, ~ e~ ~ ~ o > 2 c ~ a ~ - ++ o °~ c ~ ~~ '~ ~ .d ~ ~ ~ m ~ H' Q m W LL = = J ~ ~ Vf ~ N ~` L N N N ~ ~ 'O O `~ - ,~ `~ ~~ o .°- Z .u c ono ~ ~ o N ~ fd S H N ~ v d u O ~ a ~ N N L ~ 7 N C d °U ~~ ~~ s " ~ ~ c °~ o ,~ V p. .~ O O d fd C V 7 O oU `d o aTi Y c `~ L D O s ~~ N C ~ RI .- C ~ T u c ~~ ~_ ~~ o ~- ~° e~ u .~ ~ Z 'D N 4= O d 'O to ~ w u ~ c ~ ~ ~ c a a, o ~ ~z '~ ~; o ~, Z ~ LL N f~' Os Z d u .i N C u N ~ . C 0 U~ a^ ~~ ~- .o 3~ o `~' v - C V 20 N Q (ti U~ v ~ s p ~ ~ a.. ry 3 ~ O f~ ~ 3 .o C~ _~ C 7 0 0 • The Hastings Star-Gazette :...._ ...._ ~..J.._~, : _.. , ,~ Foreclosures in 2008 break another record Jane Lightbourn The Hastings Star-Gazette - 01/14/2009 The record has been broken again. Unfortunately, it is a record the Dakota County Sheriff s Office would rather not break. Page 1 of 1 In 2008, the civil division of the office handled 2,064 home foreclosures, an increase of 506 from 2007's 1,558 foreclosures. That number, too, was a record, up 694 in 2006. The number of foreclosure sales in the county has grown each year since 1999, but not nearly at the pace of the last several years. In 1999, there were 194 foreclosure sales. The number actually decreased to 159 in 2000, but the numbers have been increasing every year since then. In spite of the increased total for the year, there is some good news to report. According to Sheriffs Office documents, for the first time in the last two years, November and December foreclosures were fewer than those of the same months of the previous year. The sales are published in area newspapers.-the Farmington Independent/Rosemount Town Pages, Dakota County Tribune, and Hastings Star Gazette. Generally, few people other than lending institutions attend the sales. "We become aware of them (the sales), when the law firms (who file notice of the sales for banks and lending institutions) notify us,"Sgt. Joe Mulnix of the Sheriff s Office's civil division said. "If a homeowner pays off the delinquent payments, the law firm can postpone the sale. Or if you file bankruptcy, that stops the sale." In most cases, after the foreclosure sale occurs, there is a six-month redemption period, in which the property owner can redeem the property. The records of the sales and redemption notices are on file in the Dakota County Property Records Division. According to state law, the homeowner has the right to redeem the property from the foreclosing lender. The homeowner is allowed to stay in the property for this time period, Mulnix said. Prior to the sale, to cancel the sale, a homeowner can pay off the delinquent payments. Once the sale occurs, the homeowner must pay the entire amount due -through the redemption process. The most common way homeowners are able to redeem their costs is by selling their home, assuming they have enough equity. Occasionally, they are able to obtain new financing. When the redemption period expires, homeowners must be off the property or the lender may call upon the Sheriffs Office to forcibly evict the residents. Foreclosure sale schedules are available on the Dakota County Web site at http:llwww.co.dakota.mn.us/HomeProperty/Foreclosures/default.htm. There is a link at both the sheriffs office and the property records sites. http://www.hastingsstargazette.com/articles/includes/printer.cfm?id=19321 1 / 15/2009 Metro best sellers: foreclosures t~tlrTl'tblat~e~t~t~~ E I~~III'~II~1L~~F'~~Ily~ rt Tx F'rhL4L. I~~~';'~ ~:~t ITT Metro best sellers: foreclosures By JIM BUCHTA, Star Tribune January 14, 2009 If you think the foreclosure crisis hasn't hit your neighborhood yet, think again. Nearly one-third of all Twin Cities area home sales in 2008 involved lender-mediated transactions, including foreclosures or short sales, according to data released Wednesday by the four area Realtor associations. That's up from 1 percent just four years ago. Page 1 of 3 Those lender-mediated transactions, which often involve houses in disrepair or marketed at discount prices for a quick sale, caused the median home sale price in the 13-county metropolitan area to fall 13.3 percent. That fact will send deep ripples. through the area economy, squeezing local tax revenue, driving down home values and making it harder to get home improvement loans and lines of credit. There is a silver lining, however. At a news conference in Brooklyn Center Wednesday, leaders from the four associations said the recent decreases in mortgage interest rates coupled with the decline in home prices make homes more affordable than they've been in years. That helped drive alate- yearspike in home sales, primarily by first-timers and investors, which tempered last year's overall decline in sales. Pending home sales during the second half of 2008 -- signed purchase agreements for sales yet to close -- increased 15.7 percent over the same period of 2007, capped by a late rush in December that beat December 2007 by 30 percent. The net effect: Home sales last year slipped just 3.3 .percent from 2007. "There are some fairly remarkable opportunities out there for first-time buyers that weren't available a few years ago," said Tony Maurer, president of the Southern Twin Cities Association of Realtors. "The improvement in affordability in 2008 was dramatic." Nathanael Beelen, for example, is among those who took advantage of that. Beelen started shopping for a house last spring. The goal: spending less than $130,000. So many of the houses he looked at were foreclosures or short sales. Beelen steered clear of short sales (where the existing mortgage exceeds the market value) because he didn't want to get caught in a prolonged offer and acceptance process, and he took http://www.startribune.com/templates/Print This_Story?sid=37578029 1/15/2009 Metro best sellers: foreclosures Page 2 of 3 advantage of an FHA mortgage with a low down payment and a $7,500 federal tax credit aimed at stimulating the market. Beelen, who closed on that mortgage Wednesday afternoon, said he stepped up the hunt after mortgage interest rates dipped in recent weeks, allowing him to buy a much better house than he could have afforded earlier. When he made an offer on a house this summer, he faced a 6.5 percent interest rate. But the mortgage rate on his Crystal rambler, appraised for $200,000 in 2005, is only 5 percent. "We could have never got this house if rates weren't this low," Beelen said. "We figured that this was the time to buy." Discounts on houses like the one Beelen bought are increasingly carving the area housing market into two segments: sales being handled by .lenders who are trying to dispose of homes that have come back to them through foreclosure and homes that are being sold the old-fashioned way by their owners. In 2008, the median sale price of traditional sales fell only 4.1 percent, to $223,000, while the sale price of lender-mediated transactions fell at more than three times that rate, to $145, 000. The foreclosure rate in Minnesota was less than 1 percent last year -- well below the national average of 1.84 percent -- but the total number of filings increased 76 percent from 2007 and was up 337 percent from 2006, according to a report released Wednesday by RealtyTrac, a national research company It appears that housing inventory levels this year will moderate slightly from 2008, when several monthly records were set. New listings last year declined 10.9 percent -- to the lowest number since 2003. In addition, the number of new foreclosures and short sale listings during the last quarter of the year fell 4.3 percent from the third quarter, marking the first consecutive-quarter decline since 2003. "The flattening of lender-mediated properties does give us some hope that the pain caused by foreclosures may be reduced in 2009," said Bob Day, president of the North Metro Realtors Association. "Time will tell whether this trend continues." Tremendous uncertainty still plagues the market. Consumer confidence remains at record lows. Inventory levels hover near record highs despite recent declines in new listings. And rising unemployment hampers predictions for the coming year. "I don't think anyone has that kind of foresight. If they did, what would they be doing selling real estate in Minneapolis?" said Ross Kaplan, a sales agent with Edina Realty in south Minneapolis. "I would be dubious about anyone who says they know what's going to happen." On the positive side, the market got a boost in recent months as mortgage interest rates http://www.startribune.com/templates/Print This_Story?sid=37578029 1/15/2009 Metro best sellers: foreclosures Page 3 of 3 dipped to generational lows. Keith Gumbinger of HSH Associates in Butler, N.J., said continuing government intervention and a flight to the safety of Treasury bonds should keep 30-year fixed-rate mortgages in the 4.5 to 5 percent interest range on through much of the coming year. Tom Musil, director of the Shenehon Center for Real Estate Studies at the University of St. Thomas, said that he expects expanded FHA financing and economic stimulus efforts to kick in by the third quarter of 2009, and that could have a meaningful and positive effect on the market -- barring any significant calamities. Musil said that lenders have also. stepped up their efforts to complete workout programs with borrowers who are in danger of defaulting on their mortgages, something that should help constrain foreclosures. Musil forecasts a 2 to 4 percent decline in the median home sale price next year, with a 5 to 7 percent increase in total home sales. That, however, is contingent on many variables and assumes that the next wave of adjustable-rate mortgage interest resets isn't as big as the last one. "That could drive a stake through the heart of any real estate market," he said. Jim Buchta • 612-673-7376 To search real estate transactions by price, address and date go to www.startribune.com/infocenter. © 2009 Star Tribune. All rights reserved. http://www.startribune.com/templates/Print This_Story?sid=37578029 1/15/2009 Tide of foreclosure listings ebbs abit - TwinCities.com TwinCities com Page 1 of 2 It was the first downward quarterly movement in new lender-mediated listings since 2003, said Tony Maurer, president of the Southern Twin Cities Association of Realtors. ~~ i I '- The influx of homes either in foreclosure or on the verge of it tapered a bit during the fourth quarter, local Realtors said Wednesday, highlighting what they called a hopeful sign for the Twin Cities housing market. New listings of so-called "lender-mediated" properties were down 4.3 percent during the final three months of the year compared with the third quarter, according to a report from four Realtor groups Wednesday at the annual Residential Real Estate Summit in Brooklyn Center. Maurer's association -along with similar groups in St. Paul, Minneapolis and the northern suburbs - released year-end numbers Wednesday showing the median sale price for a home in the Twin Cities was off 13 percent in 2008 compared with the previous year. The $195,000 median was the lowest annual number for the 13-county metro area since 2002, when the median was $185,000. The impact of homes sold out of foreclosure or through short sales - in which homeowners and lenders agree to sell the home at a loss -had a clear impact on the annual median price. Whereas the median sale price for properties sold by consumers rather than lenders was $223,000, the median sale price for lender-mediated properties was $145,000. That's why Maurer said he was so encouraged to see the modest dip in new lender-mediated listings during the fourth quarter, which he attributed to changing attitudes among lenders. "I think we're starting to see the lenders work more closely with the homeowners in an attempt to try and expand upon their ownership and re-program (mortgages) to keep them in their properties," Maurer said. Noting the large number of foreclosure homes that banks already are struggling to deal with, Steve Havig, the president of the Minneapolis Area Association of Realtors added: "The banks don't want these houses back." Advertisement Q ;'3,- ~ _ http://www.twincities.com/ci 11451594 1/15/2009 A safe sign stands outside a home. (AP Photo/David Zafubowski) Tide of foreclosure listings ebbs abit - TwinCities.com TwinCities•com Page 2 of 2 In St. Paul, the median sale price for the 3,065 homes that sold during 2008 was $145,200, down nearly 24 percent compared with the 2007 median sale price of $190,000. Within the city, only the neighborhood identified in Realtor statistics as Downtown/Capital Heights saw aone-year increase in median sale price - a jump of about 6 percent to $198,950. The decline was steepest in an area the Realtor groups call St. Paul Central - a combination of the North End and Thomas-Dale (also known as Frogtown) neighborhoods. While total sales in the .area were up 61 percent during 2008, according to the Realtor groups, the median sale price was $55,000 - a drop of nearly 58 percent compared with 2007. Outside the city, Mendota Heights; New Richmond, Wis.; and Hugo were among the suburbs that posted declines, with median sale prices in each municipality down 27 percent, 20 percent and 19 percent respectively. But a few suburbs actually posted gains in median prices. The median in Arden Hills was up nearly 10 percent at $262,600, while the median for White Bear Township was up nearly 1 percent at $249,350. Throughout the metro area, the median sale price just during the month of December was especially low, coming in at $167,000 - a decreased of 22 percent compared with December 2007. No other month in the past five years has seen such a low median price, according to the Realtors' statistics. Still, Realtors stressed the positive. Although closed sales in the region during 2008 were down 3 percent - to 38,748 -pending sales for the year came in at 44,067 - an increase of 1.2 percent compared with 2007. Many of those pending sales came during the second half of the year, Realtors said, and the tally of pending sales in December was up nearly 30 percent compared with December 2007. Recent drops in mortgage rates have contributed to housing affordability in the Twin Cities. And that could help explain, Realtors said, why some offices seem busy this month despite brutal weather and the typical January lull in Minnesota's real estate market. "We are seeing in our office much more activity than we have ever seen between Christmas and the Super Bowl," said Rae Jean Malone, president of the St. Paul Area Association of Realtors. "Usually everything starts moving after the Super Bowl, but right now there is so much movement in the offices." Christopher Snowbeck can be reached at 651-228- 5479. Advertisement http://www.twincities.com/ci 11451594 1/15/2009. Minn. Attorney General sues foreclosure consultants ~f~Ir~Trit~ut~e~:COI~°I i4'~I7'~dl'~;L.~.F'~~~L1 -;~;T. I_~~L, i ~~_4_t=:,~;~~T% Minn. Attorney General sues foreclosure consultants By JIM BUCHTA, Star Tribune January 29, 2009 Page 1 of 1 Minnesota Attorney General Lori Swanson announced today that she has filed lawsuits against two Florida companies that she said have been- promising troubled Minnesota homeowners relief against foreclosure but have failed. to deliver. The state filed suits against IMC Financial Services LLC in Hennepin County District Court and against American Financial Corp., which is doing business as National Foreclosure Counseling Services, in Ramsey County District Court. American Financial Corp. has also been sued by the Attorneys General in Illinois and Colorado. Swanson alleges that these companies charged up-front fees of as much as $1,850 for renegotiating mortgage terms. With a growing number of homeowners stuck between falling home prices and a slack economy, homeowners who can't pay their mortgages are increasingly turning to companies that offer to help them avoid foreclosure. A 2004 law said that these foreclosure consultants may not accept payments until they have "fully performed each and every service the foreclosure consultant contracted to perform, or represented he or .she would perform." Several companies have found loopholes in that law -- some have simply avoided calling themselves foreclosure consultants --and are now targeting homeowners that are struggling to pay their bills but have not yet gone into default. Swanson said she supports a bill that will be introduced at the Legislature. in the next couple of weeks close such loopholes. She said the legislation would reduce the number of foreclosure consultants in Minnesota that are finding ways to accept fees before providing services. "These [kinds of] companies are very creative in finding a number of ways to capitalize on the foreclosure crisis and skirt existing law," Swanson said. "We need to further tighten the laws on the books to provide the maximum level of protection to struggling homeowners in this rocky economy." Jim Buchta • 612-673-7376 ©2009 Star Tribune. All rights reserved http://www.startribune.com/templates/Print This_Story?sid=38610527 1/29/2009 Dakota County Sheriff Foreclosure Sales for ~ FI IRFKA TWP , CASTLE ROCK TWP ~ NdMPTnAI TWP _ _.._.. _ - vp I ~ I I I I I I I I t_ NORTHFIELD Density of Foreclosu Note: The Dakota County Sheriffs Office does not warrant the accuracy of the foreclosure information shown here. Much of the 0 - 2.2 per sq. mi. information shown here is gathered and presented by private parties who prepare foreclosures. The status of sale information N ~ 2.3 - 6.9 per sq. mi. can change due to court order, or corrective action taken by 0 - 11 8 er s mi ~ 7 interested parties. Users of the information are responsible for verifying its accuracy. . . p q. . • ~ ~ 11.9 - 17.1 per sq. mi. W E ~ 17.2 - 22.9 per sq. mi. Copyright 2009, Dakota County This drawing is neither a legally recorded map nor a survey and ~ 23.0 - 29.8 per sq. mi. is not intended to be used as one. This drawing is a compilation of records, information, and data located in various city, county, S "_'__ 29.9 - 39.1 per Sq. mi. and state offices and other sources, affecting the area shown, and is to be used for reference purposes only. Dakota County is 39.2 - 52.1 per sq. mi. not responsible for any inaccuracies herein contained. If discrepancies are found, please contact this office. ~! 52.2 - 70.4 per sq. mi. Investor plans new restaurant at CopperBleu site in Lakeville -Minneapolis / St. Paul Bu... Page 1 of 2 Minneapolis / St. Paul Business Journal -February 16, 2009 http:((twincities.biziau rnals.com/twincities/stores12009/02/161st®rx9.htm i ~ill4liyi!kpttEl~ ST. PAClt ~~ ~ e~~ ~' Friday, February 13, 2Q09 Members: Investor plans new restaurant at Copper Bleu site in Lakeville Minneapolis t St. Paul Business Journal - by John Vomhaf Jr. Staff Writer The former Co~per.Sleu:American Bistro in Lakeville has been sold for $i.6 million to local real estate investor Tim Hasse, who plans to find a new restaurant tenant for the site. - The deal closed Dec. 3i. _. ~xv~. .. Hasse has hired Cambrid~e.Commercial Real.Estate in Edina to :View Larger lease the building, which is located at ~75i6 Dodd Blvd., in the parking ___.._.__~ - -------- ------------ lot of a Cub Foods-anchored strip mall. Broker Pete Grones said he has talked to several interested parties -both chef-driven concepts and chain operators -and he expects to have a new tenant lined up within a few weeks. The restaurant, which spans 6,80o square feet, seats approximately 22o guests inside and another 50 on the patio. jvomhof@bizjournals.com ~ (612) 288-2101 This article is for Paid Print Subscribers ONLY. If you are already aMinneapolis / St. Paul Business Journal subscriber please create or sign into your bizjournals.com account to link your valid print subscription and have access to the complete article. Become a Print Subscriber ~~"~~~`~'_~ Forimmediate access to -~. ~ ~' ` ~ ~~ this article, as well as the - most recent edition of Minneapolis / St. Paul ,1~~ Business Journal online, ry become a print subscriber. Already have an ~4ccount Email Address: Password: . ~ Sign In Forgot Your Password? http://twincities.bizjournals.com/twincities/stories/2009/02/16/story9.htm1?t=printable 2/13/2009 Dakota County rapid transit project still on schedule ~t~rrTrbune.com I~zlr~1~E~~~~3.~ -~T. F°.~~~z. I~~T~T~~~c~T~ Dakota County rapid transit project still on .schedule By KATIE HUMPHREY, Star Tribune February 8, 2009 Page 1 of 2 The bus rapid transit development along Cedar Avenue is rolling along, with station construction expected to start this spring, even as officials search for $11.9 million to plug a gap in the $76 million budget for the first phase of the project. The money shortage became apparent in late 2008 after Dakota County completed an engineering study that gave clearer estimates of costs for improving and expanding Cedar Avenue. But Commissioner Will Branning said he is confident the county will find the funding through federal,. state or possibly local sources in order to complete the transit project that he touts as light rail on rubber wheels "It's the number one project in Dakota County, so we'll all work to make it happen," Branning said. Just getting this far has been adecades-long effort, he said, noting that a variety of cities, counties and transit providers have been working together to build bus rapid transit systems on both Cedar and Interstate 35W from Lakeville to downtown Minneapolis. Although Metro Transit, not Dakota County, is coordinating the effort on the interstate highway, both systems will operate basically the same way once they open. Buses will run in designated lanes, sometimes the high occupancy or toll .lanes and sometimes the shoulder, to shuttle people between Dakota County and downtown Minneapolis. The buses will stop at stations or park-and-rides along the route, much like alight-rail train. Both the 35W and Cedar projects got jump-starts through a $133 million federal grant with a $50 million state match awarded under an Urban Partnership Agreement for multiple transit projects in the metro area. The rest of the Cedar funding has been cobbled together from federal, state and local sources, including the quarter-cent sales tax established in 2008 to pay for transit projects. "We have 13 different funding sources for this project and each has. different timelines and restrictions or requirements, so it's quite a project to pull together financially," Dan Krom, the county transit manager, said. And the deadlines for some of that funding -- particularly the money from the UPA -- have been driving the expansion and construction of new park-and-ride and transit stations. http://www.startribune.com/templates/Print This_Story?sid=39270637 02/09/2009 Dakota County rapid transit project still on schedule Page 2 of 2 Bids have been accepted for an expansion of the Apple Valley Transit Station, and the Minnesota Valley Transit Authority could award a contract this week for construction to begin this spring. Plans for that station, currently a surface lot served by MVTA buses, include a platform, a skyway to cross Cedar Avenue, and a parking garage with three levels that would be open by fall 2009. The county has also pitched that station as a potential beneficiary of federal stimulus money. With another $3 million, there could. be an additional level on the parking garage, bringing its capacity from about 750 to about 950 vehicles. Another transit station at Cedar Grove in Eagan is also expected to be under construction this year, opening some time in 2010 with added bus service. Like the Apple Valley station, the Cedar Grove stop will include a skyway over Cedar Avenue to allow passengers to catch buses from the median once designated bus lanes are. constructed. And apark-and-ride in Lakeville, with six express bus trips for commuters in the mornings and evenings, will be opening in fall 2009, as well Sam O'Connell, a transit specialist for Dakota County, said the new stops will give residents a taste of what riding on the line will be like once the Cedar Avenue bus rapid transit is fully developed.. "Residents will be able to see the project really come to life this year," O'Connell said. Katie Humphrey • 952-882-9056 ©2009 Star Tribune. 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