09-26-2001 Council Agenda - Laserfiche WebLink

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MAYOR Michael 1. Fahey COUNCIL Beverly Scalze Jim LaValle Matt Anderson Rick Montour 515 Little Canada Road, Little Canada, MN 55117 -1600 ADMINISTRATOR (651) 766 -4029 / FAX: (651) 766 -4048 Joel R. Hanson Email: cityhall @ci.little - canada.mn.us MEMORANDUM TO: Mayor Fahey and Members of the City Council FROM: Joel R. Hanson, City Administrator DATE: September 21, 2001 Re: Redevelopment Issues The following redevelopment issues should be discussed at Wednesday's meeting. Country Drive: As you know, R. J. Marco lost the proposed tenant for the new office warehouse building they were to construct on our Country Drive redevelopment site. As a result, I can no longer recommend we finalize the settlement agreement with Mr. Biagini as was previously discussed. This is due to the financial impact we would bear without having any source of funding to recover our outlays. The City Attorney has informed Mr. Biagini's attorney of our current situation. It may be possible that we could restart our discussions on a development agreement amendment with Mr. Biagini based on the final draft he rejected. Another option is to secure a new developer for this site. The City Attorney may have additional comments on this matter. Rice Street /Little Canada Road: As you recall, we were to have a development agreement in concept with Oppidan by Wednesday's meeting. Mr. Tucci and I have traded numerous messages but have not yet met to discuss these arrangements. I am attempting to set up a meeting for Monday. I have emphasized the deadline that we are facing. Senior Housing: The Council has briefly discussed the possibility of City -owned senior housing on the south side of Little Canada Road. The advantages of this concept are lower rents for tenants thereby increasing the market potential, our ability to use low cost financing through issuance of City bonds, the possibility of using tax increment revenues from PAGE 122