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MINU'PES <br />CITY COUNCIL <br />SEPTENIBER 25, 1996 <br />Rice/Little Canada Road area may lag behind Country <br />Drive. <br />Fahey felt the City needed to move forward and make <br />sales as it can. Fahey did not support a higher <br />priority for Rice Street/Little Canada Road than <br />Country Drive. Both areas have their issues. Fahey <br />felt the City should keep both options open. Fahey <br />suqgested the City proceed with the property purchase, <br />contact other property owners in the area to determine <br />if there is additional interest in selling, and then <br />prepare an RFP to be sent to prospective developers. <br />Morelan asked how the $545,000 figure was arrived at. <br />Fifield replied that he built a debt service schedule <br />based on available revenue. <br />Morelan pointed out that the purchase of the Condit <br />parcel would not hamper Rice Street/Little Canada Road <br />redevelopment efforts. <br />Fifield felt Country Drive was an important <br />redevelopment opportunity for the City and should not <br />be overlooked. Fifield felt Country Drive <br />redevelopment efforts would not impair the City's <br />ability to proceed with redevelopment in the Rice <br />Street/Little Canada Road area. The purchase o£ <br />available properties will allow the City to assemble <br />some key parcels and keep the redevelopment process <br />open. Fifield indicated the City can either wait until <br />a developer steps forward with a proposal and then <br />acquire property, or it can be more pro-active and <br />acquire sites as they become available. Fifield felt <br />the risk of doing this was manageable. <br />Morelan pointed out that acquisition of the Condit <br />parcel will not do a lot for redevelopment without the <br />Rudy property. <br />The City Administrator suggested perhaps it is <br />appropriate to survey the property owners in the area <br />to determine if there is any interest in selling. The <br />Administrator felt if the City had the resources, it <br />should take advantage of these opportunities. Over the <br />long term this will give the City a better chance to <br />accomplish its objectives in a more economical manner. <br />Fahey pointed out that the City is still waiting for <br />review appraisals for the Rice Street/Little Canada <br />Road properties. Once those are available, a meeting <br />6 <br />