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MINUTF,S OF THE WORKSHOP MEETING <br /> CITY COUNCIL <br /> LITTLE CANADA, MINNESOTA <br /> MAY 26, 2010 <br /> Pursuant to due call and notice thereof a workshop meeting of the City Council <br /> of Little Canada, Minnesota was convened on the 26th day of May, 2010 in the <br /> Council Chambers of the City Center located at 515 Little Canada Road in said <br /> City. <br /> Mayor Bill Blesener called the meeting to order at 6:30 p.m. and the following <br /> members of the City Council were present at roll call: <br /> CITY COUNCIL: Mayor Mr. Bill Blesener <br /> Council Member Ms. Shelly Boss (arr. 8:10 p.m.) <br /> Council Member Mr. John Keis <br /> Council Member Mr. Rick Montour <br /> ABSENT: Council Member Mr. Mike McGraw <br /> ALSO PRESENT: City Administrator Mr. Joel R. Hanson <br /> City Cler]< Ms. Kathy Glanzer <br /> <br /> ECONOMIC Larry and Paul Abdo appeared before the Council to discuss their <br /> DEVELOPMENT development proposal for the City's Rice Sh•eet/Viking Drive <br /> Redevelopment site. Larry Abdo reported that the proposed building <br /> ABDO would be a strip mall consisting of four tenant spaces. 'T'hey currently <br /> <br /> PROPOSAL have three businesses interested in the space, acid these are national franchise <br /> tenants. These potential tenants are willing to pay above market rent for the <br /> space. Larry Abdo reported on other properties that he owns and indicated that <br /> inmost centers rent concessions and abatements are necessary to retain tenants. <br /> Larry Abdo indicated that at this point he would like an indication from the <br /> Council as to whether there is any interest in the strip mall concept for this <br /> property. If the Council is not interested or wants to land bank the property for a <br /> period of time, then he would not move forward at this time. <br /> Larry Abdo discussed economic conditions, development in the general vicinity <br /> of the site, as well as the limitation that access come from Viking Drive. At this <br /> point Larry and Paul Abdo did a detailed review of the economics of their <br /> development proposal, which result in their ability to pay approximately $8.00 <br /> per square foot for the property. <br /> Blesener asked the impact of the Kice Street/Highway 36 bridge improvement <br /> on the Abdo proposal. Paul Abdo reported that they have discussed the project <br /> with the County and it is their feeling that the impact would be minimal. <br /> <br />