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MINUTES OE'.I'I3E SPECIAL NIEETINC <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />DECEMBER 2l, 2004 <br />Pursuant to due call and notice thereof a special meeting of the City <br />Cowrcil ofLitCle Canada, Minnesota was convened on Che 21st day of <br />December, 2004 in Che Council Chambers of the City Center located at <br />S IS Little Canada Road in said City. <br />Mayor Michael I. Fahey called the meeting to order at 4:30 p.m, and the <br />following members of the City Council were present at roll call: <br />CITY COUNCIL <br />Mayor <br />Cowicil Member <br />Council Member <br />Council Member <br />Comicil Member <br />Mr. Michael I. Fahey <br />Mr. Bill Blesener <br />Mr. Jim LaValle <br />Mr. Ric]<Montour <br />Ms. Barbara Allan <br />ALSO PRESENT: <br />City Administrator <br />City Attorney <br />Deputy Clerk <br />Mr. Joel R. Hanson <br />Mr. Tom Sweeney <br />Ms. KaChy Glanzer <br />AMENDMENT The City Administrator indicated thaC it is necessary to prepare an <br />TO RAB Amendment to the Development Agreement with RAB, LLC for the <br />DEVELOPMENT phase II building planned for Country Drive. Before preparation of that <br />AGREEMENT document, the City Administrata~ reviewed the key details that would be <br />addressed. <br />The City Administrator presented detailed TIF Analysis one based on the <br />current developmenC agreement and conditions and the other based on the <br />developer's preferences. The Administrator also presented a canparison <br />of the key points. <br />The Administrata• noted that one of the main issues is that the developer <br />does not want to pay the $68,010 agreed upon price for the land. The <br />basis for the developer's position is Chat he had to spend approximately <br />$40,000 in incidental costs to geC the site ready for construction. The City <br />Administrator indicated that he felt reimbwsement of these costs was <br />reasonable. He also noted that the developer has been making his <br />guaranteed TIF payments to the City. The Administrator suggested <br />options to consider would be that the City requires the $68,010 as a <br />deposit toward TIF guarantees so that the City gets these dollars on the <br />front end. Another would be Co forgive the $40,000 the developer has in <br />incidental costs, and require $28,000 as a deposit toward TIF guarantees. <br />