DEPARTMENT: Enterprise Finance and Information Services Administration
FILE TYPE: Regular Action
TITLE
title
Public Hearing On A Resolution Approving A Project by Farmington Health Services And Consenting To Issuance Of Tax-Exempt Obligations By City Of Morris, Minnesota And Approving Cooperation Agreement
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PURPOSE/ACTION REQUESTED
Conduct a public hearing at 9:00 a.m. on March 26, 2024 to approve a resolution on a project by Farmington Health Services and consenting to issuance of tax-exempt obligations by the City of Morris, Minnesota and approving a cooperation agreement with the City of Morris, Minnesota.
SUMMARY
In 2019, Dakota County (County) acted as the host for financing for a project in Farmington owned by St. Francis Services of Morris and Farmington Health Services. The project included improvements to a health care and senior living campus.
St. Francis has approached the County about serving as the host for the next phase of their project. The project includes the demolition of two wings, reconstruction of 20 private rooms, reconstruction of the connecting walkway to the memory care building and associated infrastructure improvements to a health care facility. The host government entity, in this case the City of Farmington or Dakota County, must hold a public hearing on the project and adopt a resolution of support. In discussions with St. Francis bond counsel for the project, it was shared that is easier to continue the host relationship with the County since we served as host in 2019 as opposed to asking the City of Farmington to become the host for the next phase.
The project will be funded by bonds issued by the City of Morris, Minnesota (City of Morris) where St. Francis is located. Morris will be responsible for the repayment of the bonds. An addition to this process compared to the work that was done in 2019 is the need of a cooperation agreement, which is a joint powers agreement under Minn. Stat. ? 471.59, with the City of Morris...
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