10-23-1996 Council Agenda - Laserfiche WebLink

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515 Little Canada Road, Little Canada, MN 55117 -1600 (612) 484 -2177 / FAX: (612) 484 -4538 MEMORANDUM MAYOR Michael 1. Fahey COUNCIL Beverly Scalze Jim LaValle Steve Morelan Bob Pedersen ADMINISTRATOR Joel R. Hanson TO: Mayor Fahey & Members of the City Council FROM: Joel Hanson, City Administrator DATE: October 17, 1996 RE: Rice Street/Little Canada Road /Country Drive Property Acquisition Update There are a few topics to discuss under this subject. The first is a purchase agreement for the Budget Power property between Market Place Center Limited Liability Company and Thompson Enterprises, Inc. (owner of Budget Power). This agreement will be available for Council review at Wednesday's meeting. It is anticipated that the agreement will allow for assignment to a public agency. Essentially, Budget Power would move into the Market Place Shopping Center if we agree to assume the purchase agreement from Market Place LLC. It would be staff's recommendation that we assume the purchase agreement as presented subject to satisfactory review by staff, the purchase price listed in the agreement is confirmed by an appraisal of the property, and subject to any comments by the City Attorney. The next topic deals with the offers of compensation made to the remaining Rice Street/Little Canada Road property owners. Mayor Fahey, Council Member Pedersen, and I will be attempting to meet with all these property owners prior to Wednesday's meeting. Hopefully, we can give you an update on this topic Wednesday night. The third topic deals with the Round Lake property acquisition process. Attached is a map indicating the parcels which have indicated interest in selling their property to the City based on the appraised price. We are proceeding with appraisals on these properties. The last topic is the Country Drive property acquisition update. I have enclosed a map which indicates the property owners expressing interest in selling their property to the City based on the appraised price. It is my recommendation that we proceed with appraisals on these properties. We may have to prioritize purchases once the appraisals have been received assuming interest in selling remains. Rusty Fifield has also informed me that he is proceeding with plan revisions to our tax increment districts. We will be calling for hearings at the November 13 meeting. He will take any other steps that are necessary in the meantime to ensure all deadlines are appropriately met. JRH:kpv Page 116