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MINUTE5 <br />CITY COUNCIL <br />OCTOBER 14, 1992 <br />The foregoing resolution was duly seconded by LaValle. <br />Ayes (5) Blesener, LaValle, Hanson, Collova, Scalze. <br />Nays (0). Resolution declared adopted. <br />ECONOMIC The City Administrator reported that a meeting was held <br />DEVELOPMENT with Twin City Federal, the new owners of the Market <br />Place Shopping Center. TCF is thinking about selling <br />the property, but believes that for the property to be <br />marketable some issues need to be addressed. Those <br />include retaining Rainbow Foods and Snyders as <br />long-term tenants of the center, substantial <br />redevelopment of the center, and addressing visibility <br />issues. Rainbow and Snyders both want better <br />visibility, and Rainbow wants improved parking. <br />The Administrator reported that the Pride Committee has <br />been discussing the Market Place Shopping Center, and <br />it is the consensus of that committee that the City <br />should be involved in assisting the center since this <br />is the downtown of the City and there is a need for <br />stability in this area. The discussion has centered <br />around City assistance in financing tools, such as Tax <br />Increment Financing and Community Development Block <br />Grants, as well as discussion with neighboring property <br />owners about site acquisition for visibility purposes. <br />The Administrator reported that this initial meeting <br />with TCF was to introduce ourselves and assure TCF that <br />the City knows of the importance of its assistance <br />wherever possible to the long-term viability of the <br />mall. <br />Scalze noted the recent removal of the gas station at <br />Rice Street and County Road C, and asked if there is <br />any interest in the property from this area over to the <br />shopping center. <br />The Administrator reported that TCF is interested in <br />looking at the whole area, and has indicated their <br />willingness to remove the Burger King and Pizza Hut <br />buildings to improve visibility. The Administrator <br />reported that he informed TCF that in order to discuss <br />TIF assistance, the City will need to know what their <br />plans are for the area. That Administrator anticipated <br />future meetings with TCF on these issues. <br />PUBLIC Aanson reported that the traffic officer has been <br />SAFETY workinq the LaBore Road area and ticketing traffic <br />offenders. <br />Page 15 <br />