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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: May 3, 1996 <br />RE: Heritage Office Park Development Agreement <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 />Please find enclosed the revised draft of the Heritage Office <br />Park Development Agreement. The Letter of Credit has been <br />established at $50,000 due to the fact that most improvements are <br />private versus public and that no permits for buildings will be <br />issued until infrastructure and parking is completed. <br />Subject to those modifications and any comments from the City <br />Attorney, 2 would recommend its approval. <br />JRH:kpv <br />Enclosure <br />cc: John Dobbs, Heritage Development <br />Page 13 <br />