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MINUTES OF THE SPECIAL MEETING <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />DECEMBER 5, 2008 <br />Pursuant to due call and notice thereof a special meeting of the City <br />Council of Little Canada, Minnesota was convened on the 5th day of <br />December, 2008 in the Council Chambers of the City Center located at <br />515 Little Canada Road in said City. <br />Mayor Bill Blesener called the meeting to order at 8:00 a.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 />Mr. Bill Blesener <br />Ms. Barbara Allan <br />Ms. Shelly Boss <br />Mr. Rick Montour <br />ABSENT: <br />ALSO PRESENT: <br />Council Member <br />Mr. John Keis <br />City Administrator Mr. Joel R. Hanson <br />City Clerk Ms. Kathy Glanzer <br />INTERFUND The City Administrator reported that Gordie Howe will be closing on <br />LOAN - the property purchase at 2966 Arcade Street today. The Interfund Loan <br />2966 Resolution before the Council allows for the City to loan money to <br />ARCADE Gordie Howe to assist with the property purchase in advance of the <br />STREET creation of the TIF District on this property and pursuant to the terms of <br />the Development Agreement we previously approved. The Administrator <br />again reported that the City will not be a co-owner of this property, but is <br />providing a mortgage to Mr. Howe to assist in his purchase of the site. <br />This mortgage will be primary on this property. Should Mr. Howe wish to <br />place additional mortgages on the property, he will have to pay off the <br />mortgage to the City or the other mortgages would need to be subordinate <br />to the City's interests. <br />The Administrator also noted that once property inspections have been <br />made, the City will start the formal process to create the TIF District. He <br />also noted that the existing house and structures will not be torn down <br />until redevelopment occurs, unless there are nuisance problems with the <br />property. Also, the Public Works Department will barricade access to the <br />site. <br />Ms. Allan introduced the following resolution and moved its adoption: <br />