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01-11-1989 Council Agenda
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01-11-1989 Council Agenda
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rT, -v — <br />MEMORANDUM <br />TO: <br />FROM: <br />DATE: <br />RE: <br />FILE NO: <br />northwest associEted consultants, inc. <br />yz■ _ <br />RCCENiQss <br />JAN <br />{ CITY OF <br />67 \LITTLE CANADA <br />Joe Chlebeck <br />Dan Wilson <br />3 January 1989 <br />Little Canada - Senior Housing Proposals <br />758.09 - 88.68 <br />Steve Grittman and myself have met with three different <br />developers interested in pursuing senior housing projects in <br />Little Canada. All three developers were seeking assistance via <br />tax increment financing. <br />Richard, Krier, REM, Inc. (925 -5067) <br />Mr. Krier's interest was in a mixed senior family project. He <br />felt the senior market was possibly over built and therefore, <br />wanted the majority of the units to be family units. He also did <br />not like Little Canada's TIF policy of 2/3 - 1/3 split on TIF <br />dollars. He said he needed 100%. He did not have a site and I <br />do not believe he will seek one. <br />Mark Clemens /Carol Slavick, EMC Development (228 -0106) <br />Mr. Clemens used to work for Arkell Development, who built the <br />Cottages in Stillwater. Mr. Clemens is trying to copy that <br />concept which was separate entrance, slab on grade, townhouses of <br />approximately 700 -1,000 square feet. <br />They did not have a site, but were going to look for one. they <br />were concerned about receiving only 2/3's of the TIF, but said <br />they would pursue the project. They would sell the project to an <br />investor if they could put it together. <br />PAGE -20 <br />4601 excelsior blvd., ste. 410, minneapolis, mn 55416 (612) 925 -9420 <br />
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