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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: July 2, 1998 <br />RE: Rice Street/Little Canada Road Redevelopment <br />Cinemark <br />MAYOR <br />Michael I. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morel= <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R Hanson <br />In recent conversations with Kim Wise, he felt any face -to -face negotiation sessions to finalize <br />the lease and development agreement were not appropriate at this time. Rather he asked that we <br />forward him a memorandum listing our key issues with the lease document. He is doing the <br />same with the development agreement and indicated he will have something to us the week of <br />July 6th. Tom Bray of Briggs and Morgan has indicated some concerns with the structure of the <br />lease document. Based upon his concerns, I have instructed him to redraft the lease from our <br />perspective to serve as a basis for ongoing negotiations. I am hopeful I will have that document <br />with a transmittal memo to Kim Wise for you to review at Wednesday's meeting. <br />I have also informed Mr. Wise that we should be commencing environmental, survey, and title <br />reviews of this site so these issues are addressed prior to execution of the lease and development <br />agreement rather than after. He acknowledged that fact, but wants to define the site lay -out more <br />clearly prior to undertaking these activities. Mr. Wise also informed me that Cinemark might <br />want to increase to a 17- screen complex. He is supposed to be meeting with Cinemark's <br />chairman by July 3`d to discuss this matter. <br />I am also aware that Chris Moarn is working on securing additional tenants for the development, <br />and it sounds as though he is making good progress. He may want to proceed with development <br />of the northeast corner of Rice and Little Canada Road irrespective of the theater project! <br />Other Redevelopment Activities <br />We have closed on the purchase of the Cardinal property, and are in the process of determining <br />interest in moving that house as well as those located at 56 West Little Canada Road and 2 West <br />Little Canada Road. Additional information on this matter should be included in the July 22nd <br />Council agenda. <br />Page 115 <br />