Laserfiche WebLink
MINUTES <br />CITY COUNCIL <br />SEPTEMBER 27, 1995 <br />City Administrator, who will forward them on to the <br />consultants. <br />Council reviewed the Market Place Statement of <br />Understanding. Mr. Grootwassink, potential purchaser <br />of the Market Place, reported that the Statement is <br />basically acceptable to him. <br />Fahey suggested that the Statement include languaqe <br />which indicates that any easements that might be <br />necessary for the relocation of Market Drive will be <br />dedicated by the developer to the City at no cost. <br />The City Administrator reported that this has been <br />discussed, and the developer wants an opportunity to <br />review potential easements to make sure it works for <br />the center. <br />Fahey pointed out that should there be a cost <br />associated with the easement dedication, the City would <br />have the ability to include those costs in an <br />improvement project which would be assessed back to the <br />benefitting property owner. It was pointed out that <br />there are no easements for existing utilities on the <br />shopping center property. <br />Morelan questioned the $350,000 figure for building <br />rehabilitation. <br />Grootwassink felt that the $350,000 was a fairly close <br />estimate. While the figure could be higher, there are <br />some improvements which could be postponed for a couple <br />of years. <br />The City Administrator pointed out that the City would <br />want to see estimates or bids prior to construction, as <br />well as documentation that the work was done. There is <br />a requirement for this documentation as part of the <br />financing arrangement. <br />Morelan asked about the $200,000 estimate for <br />construction of enhancements to the building and site <br />to meet Development Guide requirements. <br />The City Administrator pointed out that the City will <br />have to be specific as to what it wants to accomplish. <br />Once that is done, a firm cost can be determined. The <br />Administrator reported that the agreement calls for the <br />City to finance up to $350,000 in building <br />rehabilitation costs. Rehabilitation costs over that <br />amount would be the responsibility of the developer. <br />The developer will have to show the capacity to <br />2 <br />