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MINUTES <br />CITY COUNCIL <br />TJOVEi~iBER 23, 1994 <br />RICE STREET The City Administrator;reported that at this time <br />GATEWAY there is no development:agreement to present to the <br />PROJECT Council for the Rice S#;~eet Gateway Project. The <br />Council had reviousl " <br />p y';~stablished a November 20th <br />deadline for submission~of a development agreement that <br />is ready for execution.~`~~'The Administrator reported <br />that the Council has two options. One would be to seek <br />proposals from other developers, and the other is to <br />extend the deadline and°authorize staff to put together <br />a development agreement'for the developer's reaction. <br />Morelan asked what information the City has received. <br />The Administrator reported that the developer has <br />submitted some documents, however, not a development <br />agreement which is ready for execution. <br />LaValle reported that he has seen the documents which <br />the developer has presented. LaValle stated that he <br />did not feel the City Administrator should spend any <br />more time on this matter, and questioned why the City <br />should do the developer's work for him and put together <br />a development agreement. LaValle pointed out that the <br />developer has the outline of what the City would like <br />to see in the agreement. LaValle felt the agreement <br />should have been presented by the November 20th <br />deadline which was established. <br />Morelan pointed out the fact is that the City does not <br />have a development agreement, and asked why. Morelan <br />stated that he agreed that the option of staff drafting <br />the document was out of the question. <br />LaValle again stated that staff should not spend any <br />more time on this matter. <br />The City Administrator reported that in his last <br />discussion with the developer, he indicated that he did <br />not recall receiving the development agreement outline. <br />The Administrator reported that this outline was <br />presented to the developer back in December of 1993 and <br />it spells out specific provisions to be included in the <br />development agreement. <br />Pedersen pointed out the possibility of Tax Increment <br />Financing for the project, and felt this would be a <br />motivation for the developer to make the City happy. <br />