04-22-98 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL APRIL 22, 1998 The foregoing resolution was duly seconded by Scalze. Ayes (4) Morelan, Scalze, Fahey, Pedersen. Nays (I) LaValle. Resolution declared adopted. ECONOMIC The City Administrator reported that Kim Wise from Cinemark will be DEVELOPMENT here tomorrow morning to discuss the potential for a theater development in the Rice Street/Little Canada Road area. Wise will be making a counter proposal to the one 11id out by the City and will be proposing ]ong-term bondin~ versus pay-as-you-go TIF financing. Fahey indicated that he would support a theater development similar to whlt Re~al has discussed. Fahey stated that he was less inclined to take out 17 acres of property when other theater developers have indicated that is not necessary. Scalze asked what the City's financial consultant's position is on the long- term bonding. The Administrator reported that long-term bonding increases the City's risks, but it may present the City with greater long- term benefits. Morelan felt the City should leave its options open at this time. LaValle agreed. It was the consensus of the Council to schedule a workshop to discuss the results of the meeting with Kim Wise on Wednesday, May 13°i, at 6 P.M. Mr. Fahey introduced the following resolution and moved its adoption: RE.SOI UTlON NO. 98-4-98 - CALLING FOR A WORKSFIOP MEETING ON WEDNESDAY, MAY 13, 1998 AT 6 P.M. TO DISCUS.S XEDBVEI,OPMENT OF 7HE RICE STREET/1.ITTLE CANADA ROAD AREA The foregoing resolution was duly seconded by Scalze. Ayes (5) Fahey, Scalze, LaValle, Morelan, Pedersen. Nays (0). Resolution declared adopted. APPOINTMENT Mrs. Scalze introduced the following resolution and moved its adoption: TO THE PARKS & RECREATION RESOl,UTIONNO. 98-4-99-APPOINTINCi ROI3ERT COMMISSION SCHA73ACKER 7'O TFIE PARK.S TO THE PARKS & RECREATION COMMI.SSION FOIZ A TF,I2M WHICH EXPIRES DECEMI3ER 31, 13