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515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(651) 484 -2177 / FAX: (651) 484 -4538 <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: February 5, 1999 <br />RE: Rice Street/Little Canada Road Redevelopment Update <br />The update is as follows: <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Sealze <br />Jim LaValie <br />Steve Morel= <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />CI Title — It appears that CI Title is working with another developer to locate on the former St. <br />Paul Water Department property off of Rice Street. I have met with Mr. Dick Biagini, the <br />owner /developer of that site. I have informed him that we cannot offer tax increment financing <br />assistance given the recent statutory changes. We can offer tax abatement of the City's share of <br />taxes (approximately 15 %). The big issue will be the construction of a sewer line from Country <br />Drive along the base of the hill to serve this property. They may be asking for City assistance in <br />that regard. Mr. Daulton of CI Title seems very comfortable with this individual based on their <br />past relationship. Given their time constraints, if would be very difficult to put together a <br />development package for any other site in Little Canada at this time. <br />South Site Development Proposal — A staff meeting will be held next Thursday at 2:00 p.m. to <br />meet with proposed developers regarding the theatre /office /retail proposal for the southeast <br />comer of Rice Street/Little Canada Road. It is my understanding that they are revising their site <br />layout plan which could impact the financial feasibility of this project. I have informed their <br />representative that this information should be forwarded to us as soon as possible in order that we <br />can give them an indication regarding the likely success of this project. In the meantime, I will be <br />doing some research regarding the theatre company to be involved in this development. I have <br />asked Mayor Fahey and Council Member Pedersen to sit in on Thursday's meeting. <br />JRH:kpp <br />cc: Joe Vitale, Venetian Inn <br />Gary Collyard <br />Ron Christenson <br />Pat Daulton, CI Title <br />Dick Biagini <br />Page 41 <br />