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MINUTES OF THE WORKSHOP MEETING <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />Pursuant to due call and notice thereof a workshop meeting of the City Council <br />of Little Canada, Minnesota was held on the 28th day of March, 2001 in the <br />Council Chambers of the City Center located at 515 Little Canada Road in said <br />City. <br />MARCH 28, 2001 <br />Mayor Michael I. Fahey 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: <br />Mayor <br />Council Member <br />Council Member <br />Council Member <br />Council Member <br />Mr. Michael I. Fahey <br />Ms. Beverly Scalze <br />Mr. Jim LaValle <br />Mr. Matt Anderson <br />Mr. Rick Montour <br />ALSO PRESENT: <br />City Administrator <br />Ehlers & Associates <br />Deputy Clerk <br />Mr. Joel R. Hanson <br />Mr. Rusty Fifield <br />Ms. Kathy Glanzer <br />REDEVELOP- The City Administrator reviewed his memo dated March 23, 2001 <br />MENT ISSUES relative to the possible construction of a 30,000 square foot office <br />building at the northeast corner of Rice Street and Little Canada Road <br />RICE STREET/ by R. A. Morton & Associates. The Administrator reviewed the key <br />LITTLE issues which make redevelopment of this property difficult. He also <br />CANADA ROAD reviewed the revised proforma from R. A. Morton & Associates noting that <br />there are a number of issues that are unacceptable. <br />The Administrator submitted information from Colliers Towle Real Estate that <br />shows office rents for the northeast area in the $7.00 to $14.50 per square foot <br />range. The Administrator indicated that John Vitale informed him that the <br />maximum office rent for our area would be $12.00 per square foot. Based on <br />that rent level, it is difficult to make an office building project work even if the <br />City contributes the land to the project. The Administrator noted that the City <br />has approximately $900,000 into the site. He also indicated that the bottom <br />line is that the City needs to provide an additional subsidy beyond the land to <br />make a project work. <br />The Administrator reported that he met today with representatives of R. J. <br />Marco Construction and Oppidan to discuss development of the site. They <br />indicated the possibility of constructing a 3-story office/retail building. The <br />