04-09-1997 Council Agenda - Laserfiche WebLink

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ce+ 1 2d74 ceasek 515 Little Canada Road, Little Canada, MN 55117 -1600 (612) 484 -2177 / FAX: (612) 484 4538 April 1, 1997 RE: Request for Additional Information for Developer Selection Process Gentlemen: MAYOR Michael I. Fahey COUNCIL Beverly Seal7e Jim LaVane Steve Morelan Bob Pedersen ADMINISTRATOR Joel R. Hanson Thank you for responding to our letter of March 5, 1997. Rusty Fifield, Michael Schroeder, and I have .reviewed your submittals of March 21St and have decided that it is important to receive additional information as the Council considers which developer is to be selected for our project. To ensure that we have clearly communicated our intentions, the following points can be considered certainties on the part of the City: • The City is willing to acquire properties to facilitate an acceptable redevelopment project. • The City is willing to write down the costs of land to a developer with the final value to be dependent upon what is constructed on the site. The higher the intensity of development in terms of square footage and/or value, the greater the level of assistance we can provide to the project. However, density issues and other practical limitations must be addressed. • The City will undertake public improvements relative to Little Canada Road, Middle Street, and Market Place Drive. We will be expecting a fair assessment for these improvements anticipated to be in the range of $45 -50 per lineal foot. Our typical assessment term is 10 years. • The City is looking for a mix of retail/service /office development. We recognize the market is the determining factor in what will be constructed. However, we see this mix as critical as it is unlikely that no one component will allow us to achieve our overall redevelopment objectives. To assist us in further evaluating your development team, we would like you to provide us with additional information as indicated below: Page 4