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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: May 21, 1999 <br />RE: Economic Development <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 />Here is the status report of recent economic development activities: <br />Rice Street/Little Canada Road: <br />Both the Collyard/Christenson and Rutzik proposals are awaiting the review of further information. No <br />significant activity has occurred on either of these projects since the last Council meeting. <br />Country Drive: <br />A letter of credit has been received from CI Title to guarantee the purchase of the Fasciana and Nadeau <br />properties. I am setting up a meeting with the owners of Precision Tree for the 1' week in June. I am <br />working with Mr. Biagini on a development agreement for a 30,000 square foot office building. He will <br />be making necessary submittals for the June planning cycle to address PUD and other related zoning <br />approvals. <br />I have had further discussions with Mr. Gagne regarding the sale of his property. He was in the process <br />of obtaining some additional appraisals of his property. I have made revisions in my suggested <br />compensation proposal. I have told him the decision is up to him as to whether it is advantageous for him <br />to sell at this time or not. I am awaiting his response. I also met with Mr. and Mrs. Rice regarding the <br />sale of their property. I believe an agreement can be reached in this regard. However, I am not pursuing <br />any other properties at this time until we determine Mr. Gagne's interest. <br />JRH:kpp <br />cc: Gary Collyard <br />Sherman Rutzik <br />Don Gagne <br />Dick Biagini <br />Page 162 <br />