VICTORIA BONDS FOR $2.72 MILLION
TO PAY FOR DOWNTOWN STREETS/UTILITIES
On May 22nd councilmembers ap-proved approved the issuance and sale of $2,720,000 in General Obligation Tax In-crement Bonds of 2003 to finance the downtown street and utility improve-ments currently underway.
Stated Paul Donna, the city's finan-cial consultant with Northland Securities, "We took bids this morning at 11:30.  The winning bid is Chicago-based Cronin and Company, Inc.  Their low bid is 3.63%.  It's probably one of the lowest interest rates we'll see for a long, long time.  We were projecting 4.51%.  You hit it just right.  It reflects $286,000 in total interest cost savings.  It directly impacts your property taxes."
Closing date to actually purchase the bonds is June 12th. 
The downtown improvements will be paid for in three ways: with the bonds, some assessments, and some increase in property taxes.
Mr. Donna said the city has been con-firmed with an A3 rating.  "The analyst indicated a serious consideration for an upgrade to A2 with the next issue."  Stated Mayor Bohn, "That says we're doing a good job of managing the city.  It saves the taxpayers money."

CLOCKTOWER BUILDING APPROVED
NEW STREET WILL PROVIDE MAIN ACCESS
On May 8th council officially approved a conditional use permit and minor subdivision that allows the Hart-man Communities downtown redevelop-ment retail/office complex to be constructed as Clocktower Building in downtown Victoria.
The two-story Clocktower Building will contain approximately 11,294 square feet of retail and office space.  The lower level is primarily retail, the upper level is strictly office.  The developer has ob-tained a purchase agreement from the city for this property, which is adjacent to C.H. Carpenter.
The city is constructing a new street that allows access to the north side of the building.  The new street may soon be ex-tended beyond the existing alley, all the way to Quamoclit Street.  The recent city purchase of the Wartman home makes this possible, as planned.
Parking for the Clocktower Buiding will be available on-street and on other city-owned property. 
The building will be primarily masonry construction and glass with some metal and stucco accents.  Hartman Com-munities received a temporary construc-tion sign permit for the Clocktower Building at 7971 Victoria Drive.

MORE PROPERTIES ON CHOPPING BLOCK
EXPANDING DOWNTOWN REDEVELOPMENT
In addition to all of the downtown properties purchased in recent years by the City of Victoria, and subsequently demolished for the sake of downtown redevelopment, there is now a string of houses on Quamoclit Street in downtown Victoria also on the chopping block.
On May 8th councilmembers re-ceived approval to purchase the home of Julianne Wartman, at her initiative.  Two more homes on the street have also been under negotiation by the city.  Reported Planner Mark Kaltsas on May 22nd, "We've done appraisals and are negotiat-ing the purchase price.  One of them is in a pretty deteriorated state.  It would give the city three parcels in a row, with only one left -- the corner lot.  The negotiations are in keeping with prices of the Wartman house."
Council unanimously authorized staff to complete the negotiation of the two purchase agreements and approve their purchase.
Referring to commercial viability of this contiguous parcel of properties located in the Central Business District of Victoria, Mayor Jerrry Bohn said, "There's a significant amount of interest."  As with the Clocktower Building being constructed on Main Street Victoria Drive, the new strip might also include commercial retail on the first floor and office space on the second floor.
During May, 2003, the city-owned Jerry Noreen home in back of the Victoria House was demolished in order to provide a downtown parking lot.  Also demolished in May was the city-owned former Victoria Auto Body Shop across from Schmitty's Tavern; it will provide tempo-rary downtown parking.
Other downtown properties pur-chased by the city and demolished in preparation for downtown redevelopment include Tuffy's Tavern and Victoria Liquors (which is now the site for Hartman's Clocktower Building), and the three single-family homes on Stieger Lake (paving the way for the Wensmann Townhomes). 
The city has also signed an agreement for the purchase of the Sidco 4x4, former Braunworth Hardware Store, building in downtown Victoria.
And now, most recently, three single family homes on Quamoclit have been purchased by the City of Victoria.  All have been willing sellers.

AS ANNEXATION DRAWS CLOSER
TOWNSHIP RESIDENTS HAVE QUESTIONS
City Attorney Laurie Miller presented councilmembers with background infor-mation for the annexation process on the "impending thought" that there's going to be 1,000 acres annexed to the City of Victoria.
She said there are various ways that properties can be annexed, including by Court Order from the Department of Ad-ministration, by Joint Resolution or Ordinance, by Petition, and by an Orderly Annexation Agreement.
She said the City of Victoria is part of a 1976 Orderly Annexation Agreement whereby various parts of Laketown Township are slated to be annexed to the cities of Victoria, Waconia, and Chaska. 

Click here for more City Scoop.