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MINUTES <br />CITY COUNCIL <br />APRIL 27, 1999 <br />Gagne suggested that the City is tryin~ to acquire his property for half of <br />what it paid for the Rudy property. Gagne again commented on the price <br />he received for his land ten years ago. <br />Fahey replied that the City Administrator's position is that the price for the <br />Gagne land that was paid ten years ago was too high and that the City did <br />not have control of that transaction. Fahey indicated that unfortunately <br />this may have created some unreasonable expectations. <br />Ga~ne again brought up the price paid for the Rudy property. Gagne <br />reported that he was paid $264,000 for the first piece of property he sold, <br />and since the time he sold it the City collected almost $800,000 in <br />increment on it. <br />The Administrator reported that the TIF collected on this property is <br />approximately $57,000 per year and didn't begin until 1992. The City <br />Administrator pointed out that without TIF assistance it will be very <br />di~cult to remove the existing houses on Country Drive to redevelop the <br />area. <br />Fahey su~;~;ested that if the opportunity to use TIF assistance is lost, the <br />biggest potential loser in the process would be those property owners who <br />wish to redevelop their properties. <br />Gagne reported that he is not saying he will not sell his property. <br />However, he has never had his home appraised and would like to obtain <br />his own appraisal to compare it to what the City is offering. <br />Elaine Zoch asked the City's plans for the property across from her house. <br />The City Administrator reported that someone is interested in the property, <br />however, discussions are only preliminary at this point. This party is <br />interested in developin~ an office building on the site. <br />RICE STREET/ The City Administrator reported that he tentatively has a meeting set for <br />LITTLE CANADA next Friday with the Christenson group to discuss the Rice Street/Little <br />ROAD Canada Road area. He also reported that Sherman Rutzick has indicated <br />that he will be in with a proposal for the Rice Street/Little Canada Road <br />area after May 1". <br />SCHNITZER Mrs. Scalze introduced the following resolution and moved its adoption: <br />GROUP <br />RESOI. UTION NO. 99-4-99 - CALI,ING FOR A CLOSED SESSION <br />TO DI.SCUS.S THE SCHNITZER GROUP CI.AIM FOI.LOWING THE <br />zo <br />