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515 Little Canada Road, Little Canada, MN 55117-1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />MEMORANDUM <br />TO: Mayor Fahey & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: April 17, 1998 <br />RE: Economic Development Update <br />Since our last meeting, here is a summary of the activities that have occurred: <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 />♦ A number of theater groups have stated they are not interested in placing a complex at the <br />Rice Street/Little Canada Road area. Carmike Cinemas and Regal are among those in <br />this category. (Regal has not submitted a final rejection, but it seems likely according to <br />Mr. Kaare Birkeland. He will know definitely within two weeks.) The reason sited for <br />not going forward concerns the lack of sufficient traffic volumes on Rice Street. The <br />demographics for the area and the City's interest level are excellent. The financing <br />concept is workable. However, the positive points did not offset the lack of traffic <br />capacity these theater's feel is necessary. I am still awaiting word from Mueller Theaters <br />and Marcus Theaters regarding their interest in the site. <br />♦ Kim Wise representing Cinemark is supposed to be in town next Thursday. He indicates <br />his continued interest in the site and wants to meet to discuss the information we sent to <br />him over a month ago. He indicated he will have some site information to review at that <br />time. It is my opinion that we should have a very short timeframes for performance in <br />dealing with Mr. Wise. The indecision and uncertainty regarding the status of our project <br />is raising frustration levels of area businesses. <br />• The Guerin Property Phase I Environmental Report has been completed. (I am attaching <br />a copy of the cover letter.) You will note that there is a substantial amount of <br />contaminated soil on the site which they have estimated could cost up to $200,000 to <br />have it excavated and removed. The PCA has informed me that we would only need to <br />do this with excess material from the site as most of it can be reused on the site. <br />However, I am not sure what this means in terms of volume given we do not know what <br />type of building project will occur. I have forwarded this report on to our appraiser for <br />consideration in the update that is presently underway. I have also forwarded a copy of <br />this report to Mr. Lee Guerin on behalf of the Guerin Family Limited Partnership. <br />Page 116 <br />