03-13-2002 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL MARCH 13, 2002 The foregoing resolution was duly seconded by Scalze. Ayes (5) LaValle, Scalze, Anderson, Fahey, Montour. Nays (0). Resolution declared adopted. SHEKMAN & George Sherman, Sherman & Associates, appeared before the Council and ASSOCIATES thanked them for designating his 8rm as the preferred developer for both DEVELOPMF,NT the northeast and southeast corners of Rice Street And Little Canada Road. AGREEMENT Sherman indicated that he plans to move forward quickly on the redevelopment of this area and reported that 24 howl after being designated as the preferred developer, he had a financing application submitted to Ramsey County for the senior housing/retail project proposed for the southeast corner. Sherman reported that that project will consist of 90 units of senior housing and 16,000 square feet of retail space. In addition there are 45 to 50 units of townhomes designed for seniors. Sherman reported that consideration is being given to an office/retail building on the northeast corner, and he is meeting with US Bauk next week to see if the project can include a repositioning of their facility in the redevelopment project. Sherman reported that he will be present at the City's upcoming town meeting to present concept drawings and information to the general public. Fahey thanked Sherman for being present this evening and for living up to his commitment and providing the City with apre-development agreement. Fahey stated that the City looks forward to working with Sherman. The City Administrator reviewed in detail the various components of the pre- development agreement as outlined in his memo dated March 8'~'. The Administrator noted that Sherman & Associates has put down a deposit of $10,000 for each site which will be forfeited if he does not meet the deadlines as outlined in the agreement provided that the delay is not caused by the City. Mr. LaValle introduced the following resolution and moved its adoption: RESOI_ UT ION NO. 2002-3-5G - APPRO V/NG THE PRE- DEVELOPMENTAGREEMENT W/TH SHERMAN & ASSOCIATES AND AUTHORIZING THF, MAYOR AND CITY ADMINISTRATOR TO Ea'ECUTF_ THE AGREEMENT ON 13EFIAI,F OF TILE CITY The foregoing resolution was duly seconded by Anderson. Ayes (5) LaValle, Anderson, Montour, Fahey, Scalze. Nays (0). Resolution declared adopted.