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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: November 6, 1998 <br />RE: Rice Street/Little Canada Road Redevelopment Update <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 />Rusty Fifield and I have met with Chris Moarn regarding his proposed office building <br />development. He is looking at a 44,000 square foot building constructed on the northeast corner <br />of Rice Street and Little Canada Road Based on the information he has provided us to -date, it <br />appears he needs the US Bank property to have a site large enough to accommodate the parking <br />needed for this building. That should also allow room for one more smaller building (best guess <br />today is 6,000 square feet). With this information, Rusty is preparing the financial analysis from <br />a tax increment standpoint. <br />Mr. Moarn has indicated he would like to start construction on this building by April of next year <br />in order that it can be completed in the fall of 1999 to allow tenants the occupancy they desire. <br />He would also anticipate that Little Canada Road would be reconstructed concurrently with his <br />new building. This layout would be done in such a way as to facilitate other redevelopment in <br />the area. <br />The owners of the Market Place Shopping Center have been dealing with Cinemark regarding <br />possible construction of a theater. They are contemplating building the theater and leasing it to <br />Cinemark to facilitate this development. They are evaluating this project on the north site as was <br />initially proposed by Cinemark because they own a good portion of this land which lowers <br />development costs. It also provides greater benefit to the Market Place Center. I have pointed <br />out the obstacles that this site entails and advised them that they should keep us informed as to <br />the specifics of their proposal. <br />We also attended the public purpose hearing for our eminent domain proceedings on the Guerin <br />property. Patrick Sweeney represented the City and did an excellent job. It was ruled that the <br />City (EDA) had sufficient public purpose to proceed with eminent domain. The owners will be <br />contesting the impact of the environmental adjustments made by our appraiser ($105,000 from <br />Page 24 <br />