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MINUTES <br />CITY COUNCIL <br />OCTOBER 26, 1994 <br />not settle for a second-rate development, and the <br />senior cottages would be a compliment to the other two <br />senior projects in the City. <br />Morelan asked if details of the lease agreements could <br />be divulged. <br />Collyard replied that they could not until the <br />preliminary development agreement has been submitted to <br />the City. <br />The City Administrator stated that it was his <br />understanding of Collyard's comments that come November <br />20th, Collyard would present the Council with a draft <br />development agreement that would be ready for execution <br />and that details of that agreement would be worked out <br />with City staff prior to November 20th. <br />Collyard stated that most of the answers would be in <br />hand by November 20th and the preliminary development <br />agreement would be ready for execution at that time. <br />At that time he would be prepared to disclose tenant <br />names and financing details. <br />The City Administrator reported that the preliminary <br />development agreement would address issues such as <br />project boundaries; definition of preliminary project <br />time table; identification of potential investors; <br />submittal of developer's deposit; meeting with City <br />Planner to develop a time frame for development review <br />process; statements regarding TIF assistance; <br />acknowledgement that acquisition process is to be <br />governed by appraisals; statements acknowledging the <br />City's role in defining public space issues relative to <br />the "gateway concept"; submittal to the City of signed <br />leases or letters of intent; statement acknowledging <br />that Little Canada Road is scheduled for reconstruction <br />in 1996 by Ramsey County; and statement as to the <br />developer's role in redevelopment in a city outside of <br />this district. <br />Morelan stated that if it is necessary for the City to <br />assist in assembling parcels for the district, if <br />Collyard anticipated the City would use the <br />condemnation process. <br />Collyard replied that he did. Collyard stated that <br />there is one parcel on Rice Street he would work <br />18 <br />