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515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(651) 484 -2177 / FAX: (651) 484 -4538 <br />Email: cityhall @ci.little- canada.mn.us <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: March 3, 2000 <br />RE: Development Agreement with Town & Country Limited Liability Company <br />The transaction on the DeLonais property was completed on February 29th. I am attaching the <br />final development agreement with Town & Country governing this transaction. There were <br />significant attachments to this document including the escrow agreement involving costs <br />associated with demolition. It also included our previous development agreement with Market <br />Place Center, LLC. If you are interested in seeing the complete document, please let me know <br />and I can provide you with a copy. <br />The agreement attached is based upon the information I provided at the last meeting. I did add a <br />provision whereby the developer was required to reimburse us for our costs associated with this <br />transaction. They provided us with a $10,000 check. I am anticipating the total costs will <br />approach $15,000. <br />Should you have any comments or questions regarding this transaction, please let me know. <br />Otherwise, I am recommending we ratify this agreement as presented. <br />JRH:kpp <br />Enclosure <br />Page 3 <br />