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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: February 20, 1998 <br />RE: Rice Street/Little Canada Road Redevelopment Workshop <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 />Here are the items to be discussed at Wednesday's workshop: <br />• Winter's interest in the sale of their property. Mayor Fahey, Council Member Pedersen, <br />and I met with the Winters on Tuesday evening. They indicated they were not interested <br />in selling at this time. I am following up with a letter to them (copy attached) asking <br />them to withhold judgment in order to consider all other options. I will call to them prior <br />to Wednesday's workshop to gauge their reaction. <br />• Response from Cinemark. I am still waiting for a response from Mr. Kim Wise of <br />Cinemark. He should have had our information packet on Wednesday. I have called to <br />update him on the status of the assembly of the south site and provide him with additional <br />information. Hopefully, I will hear from him by Wednesday. <br />• Revisions to financial projections. The financial projection sheet I sent to Kim Wise <br />appears to have had an error on it. I believe Little Canada Road's estimated cost should <br />be $1,825,000 instead of $1,400,000. This would increase the land sale costs per square <br />foot from $4.25 to $4.80. Mr. Wise has indicated that they would like the net overall site <br />cost to be $4.00 or less per square foot. While I would like to see further justification for <br />his rationale in using that figure, this may be an area where we will need to put some city <br />money into infrastructure to keep average land costs down. <br />• Little Canada Road Realignment. Little Canada Road can be realigned with a curve to <br />tie into Rice Street just south of First Bank's property. While initial indications from <br />Ramsey County were that it was not possible to put a curve in Little Canada Road to <br />match the alignment desired by Mr. Wise, I have subsequently learned that was incorrect. <br />Attached are three drawings which depict the curve designed to the extreme on both the <br />Page 1 <br />