03-13-2002 Council Agenda - Laserfiche WebLink

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cam 99(11/4 C Kareada 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: March 8, 2002 RE: Preliminary Development Agreement with Sherman Associates, Inc. MAYOR Michael I. Fahey COUNCIL Beverly Scalze Jim LaValle Matt Anderson Rick Montour ADMINISTRATOR Joel R. Hanson Attached are the outline points that will serve as the basis for our preliminary development agreement with Sherman Associates, Inc. It incorporates the planned redevelopment activity on both corners of Rice Street and Little Canada Road. This outline was based on a similar agreement the Developer used with the City of Shoreview as well as the items we have discussed over the past few weeks. We are attempting to have the agreement prepared and in executable form by Wednesday's meeting. The City Attorney's office will be working with me on the final draft. Sherman & Associates has been making headway into this project. They submitted an application for Ramsey County I-Iome Funds within 24 hours of our notification to them of their selection as our developer. They are pursuing tax exempt bonding for the senior project. They have been in contact with US Bank and are continuing to pursue the possibility of including that parcel in the Northeast Redevelopment site. They are evaluating utilities for both sites. They have made some design revisions to the layout of the townhomes to address our concerns. (They are continuing this process and will have a workshop session with the City Council in the near future to ensure they are on the right track.) If you have any comments or questions on the outline, please let me know as soon as possible and I will attempt to incorporate the necessary revisions. cc: Sherman & Associates 1