09-09-1998 Council Agenda - Laserfiche WebLink

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'le+ 9 4'7 ?ate 515 Little Canada Road, Little Canada, MN 55117-1600 (651) 484 -2177 / FAX: (651) 484 -4538 MEMORANDUM TO: Mayor Fahey & Members of the City Council FROM: Joel Hanson, City Administrator DATE: September 4, 1998 RE: Rice Street Development Update MAYOR Michael I. Fahey COUNCIL Beverly Scalze Jim LaValle Steve Morelan Bob Pedersen ADMINISTRATOR Joel R. Hanson Attached are some drawings that Chris Moam has prepared to indicate his proposal to construct a 45,000 square foot office /retail building at the intersection of Rice Street and Little Canada Road. Chris will be present at Wednesday's meeting to review this proposal in more detail. Some key facts to keep in mind when considering his presentation are as follows: • The project is still preliminary at this point. Changes are likely. • This project will be subject to completion of property acquisition to support the development. • This project will be contingent upon the overall redevelopment program proposed with Cinemark USA. (Kim Wise has indicated to me that this is not a stand alone project, but must be considered as part of the overall redevelopment program.) • No commitments on our part should be made on this project until we have development agreements ready to be executed in order to ensure all issues have been properly addressed. • Timing considerations need to be made due to the relocation of existing tenants as well as accommodating prospective tenants in the new building. The key objective I have in Mr. Moarn's presentation to the Council is to give everyone an idea that some positive activities are occurring and that should we be successful in finalizing the development agreement on the Cinemark project, we are likely to see some major redevelopment in 1999. If you have any questions in the meantime, please let me know. JRH:kpv Enclosures cc: Chris Moarn Kim Wise Page 7