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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 and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: October 9, 1998 <br />RE: Rice Street/Little Canada Road Redevelopment Update <br />MAYOR <br />Michael 1. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />At our last meeting, you were provided with a letter that Kim Wise had faxed us indicating they <br />had scheduled a conference call with Tom Bray of Briggs and Morgan to discuss the Cinemark <br />lease for 1:00 p.m. on Thursday , October 1. On that day, Kim Wise called Toni Bray and <br />indicated they could not have the meeting or the conference call due to the fact it was a Jewish <br />holiday and Cinemark attorneys were not available. The meeting was rescheduled for Monday, <br />October 5. On the 5th of October, the meeting was also postponed because Cinemart attorneys <br />were tied up in other closings and needed more time to review this transaction. Mr. Wise <br />indicated to Toni Bray that they would contact him later that day. That phone call did not occur. <br />On October 8`h Tom heard from Mr. Wise that the lease proposal needed to be restructured back <br />to our concept of " pay as you go". Apparently, their proposal did not meet their own long term <br />objectives and our concept is now more workable. <br />Supposedly, Mr. Wise and the Cinemark attorneys will be talking with Tom Bray sometime the <br />middle of next week. I may hear from him in the meantime. Attached is the letter I am sending <br />to Mr. Wise indicating my dissatisfaction with the lack of progress and some specific items that <br />need to be addressed. <br />JH:bj <br />Page 41 <br />