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MINUTES OF THE WORKSHOP MEETING <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />OCTOBER 28, 2015 <br />Pursuant to due call and notice thereof a workshop meeting of the City <br />Council of Little Canada, Minnesota was convened on the 28th day of <br />October, 2015 in the Council Chambers of the City Center located at 515 <br />Little Canada Road in said City. <br />Mayor John Keis called the meeting to order at 6:00 p.m. and the <br />following members of the City Council were present at roll call: <br />CITY COUNCIL: Mayor Mr. John Keis <br />Council Member Mr. Tom Fischer <br />Council Member Mr. Mike McGraw <br />Council Member Mr. Rick Montour <br />Council Member Mr. Christian Torkelson <br />ALSO PRESENT: City Administrator Mr. Joel R. Hanson <br />Ehlers Associates Mr. Mark Ruff <br />City Clerk Ms. Kathy Glanzer <br />CONCEPT The purpose of this evening's meeting is to review a potential <br />REDEVELOP- redevelopment concept for the former Bally's property. <br />MENT — <br />FORMER Todd Kaufman of Wellington Management appeared before the Council <br />BALLY'S and reported that they have entered into a purchase agreement for the <br />SITE former Bally's site off Minnesota Avenue. They are in lease negotiations <br />with LA Fitness for the lease of a new facility on this property. Kaufman <br />reported that the property consists of two parcels and future plans would <br />be to develop an 8,100 square foot retail building on the eastern lot, <br />adjacent to Cobblestone Village. The total site is just under 6 acres. <br />Kaufman reported that their purchase agreement also includes the property <br />occupied by Arby's and Aldi Foods. <br />Kaufman reported that as part of the lease negotiations, LA Fitness has <br />indicated that they want to pay no more than $4.50 per square foot in <br />property taxes. LA Fitness currently has 13 clubs in Minnesota, and <br />property taxes on these clubs range from $5 to $9 per square foot. <br />Kaufman reported that they recently met with Steven Baker, the County <br />Assessor, to discuss the tax issue. During that meeting, the County <br />Assessor estimated that the property taxes for the fully developed site <br />could range from $5 to $6 per square foot. In a meeting with Mark Ruff <br />