10-12-94 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL OCTOBER 12, 1994 community, and opportunities presently exist in this area which may be favorable to redevelopment objectives. LaValle asked if any other developers have expressed an interest in a project in this area. The Administrator replied that when the Tax Increment Financing District was first formed, there was some interest expressed by a few different parties. Their level of interest and ability to perform was not ascertained. LaValle pointed out that it has been over a year since the project has been proposed, and the City has seen nothing definite. LaValle suggested that the developer be contacted to determine his intent. Scalze agreed that the developer should be asked to formalize what they are doing, or perhaps the City should be approaching other developers. The City Administrator pointed out that a letter was sent to the developer last December pointing out that they had no contractual relationship existing with the City. The Administrator suggested that the City could establish a deadline for a development agreement, otherwise the City would send out Requests for Proposals to other developers to determine if someone else may be interested in this project. The Administrator was not sure whether this effort would produce positive results. Pedersen stated that the City would not want to undercut this developer if there is progress being made. However, at some point the City must take a more proactive role. The Administrator pointed out that the project proposed is a major undertakinq and very complicated given the new tax increment laws. The Administrator stated that his concern was that the developer would propose a development agreement at some point that will cover a project that the City is not anticipating. The Administrator stated that he would like to avoid surprises along the way. 16