01-09-2002 Council Agenda - Laserfiche WebLink

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515 Little Canada Road, Little Canada, MN 55117 -1600 (651) 766 -4029 / FAX: (651) 766 -4048 www.ci.little- canada.mn.us MEMORANDUM TO: Mayor Fahey & Members of the City Council FROM: Joel Hanson, City Administrator DATE: January 4, 2002 RE: Status of Development Agreement with 12. A. Morton MAYOR Michael L Fahey COUNCIL Beverly Scalze Jim L &Valle Matt Anderson Rick Montour ADMVIINISTRATOR Joel R. tIanson No progress has been made on the Development Agreement with R. A. Morton & Associates since our last meeting. They are continuing to seek a financing commitment. Once that is secured, I believe we would move very quickly to wrap up the Development Agreement and seek land use approvals. The end of the year is one obvious reason for the slow pace we have realized. However, we can not continue to spin our wheels if construction is to occur this year. AS I have mentioned in the past, we have not put this concept out to the market. I believe we would find other parties interested in our project given the assistance we are willing to provide. Therefore, I am recommending that if substantial progress has not been made by the next meeting, we seek proposals for our project. (I would consider substantial progress to mean securing of a financing commitment and having the development agreement in executable form.) I am hopeful that R. A. Morton can make the progress we desire. To start over with another developer will result in some additional delays. However, we need to get some certainty with whatever course we choose. I have asked Mr. Mike Noonan of R. A. Morton and Associates to provide us with an update prior to Wednesday's meeting. I have also requested his presence at this meeting in order for you to be able to ask him any questions you feel are appropriate. (I have not confirmed his attendance as of yet.) cc: R. A. Morton & Associates Guerin Family Partnership