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MINUTES OF THE SPECIAL MEETING <br />CITY COUNCIL <br />LITTLE CANADA, MINNESOTA <br />DECEMBER 5, 2007 <br />Pursuant to due call and notice thereof a special meeting of the City <br />Council of Little Canada, Minnesota was convened on the 5th day of <br />December, 2007 in the Council Chambers of the City Center located at <br />515 Little Canada Road in said City. <br />Mayor Bill Blesener called the meeting to order at 5:10 p.m. and the <br />following members of the City Council were present at roll call: <br />CITY COUNCIL: <br />Mayor <br />Council Member <br />Council Member <br />Council Member <br />Mr. Bill Blesener <br />Mr. John Keis <br />Mr. Michael McGraw <br />Mr. Rick Montour <br />ABSENT: <br />ALSO PRESENT: <br />Council Member <br />City Administrator <br />City Clerk <br />Ms. Barb Allan <br />Mr. Joel Hanson <br />Ms. Kathy Glanzer <br />DEVELOPMENT Mayor Blesener reopened the Public Hearing to consider the application <br />STAGE PUD for Development Stage Planned Unit Development Permit to allow the <br />PERMIT - remodeling and occupancy of a portion of the former Knox building by a <br />3203 COUNTRY gymnastics academy. <br />DRIVE - <br />MIDWEST The City Administrator reported that he and Council Members Keis and <br />GYMNASTICS McGraw met last Friday with the representatives of Midwest Gymnastics <br />to work out a conceptual PUD Agreement for the proposed project. He <br />indicated that the key terms that were agreed to include a financial <br />commitment from a bank that it would consider a loan for the estimated <br />$1.5 million in exterior improvements and submittal of a $25,000 letter of <br />credit that would be defaulted should the developer not follow through <br />with exterior improvements as proposed. A drawing will also be attached <br />to the PUD Agreement as an exhibit showing the exterior improvements <br />proposed with the understanding that the drawing may be somewhat <br />modified depending on the tenant mix. The Administrator reported that <br />Carl Johnson has addressed some of the deferred maintenance issues at the <br />building, but there are still a few items that need to be completed and they <br />are addressed in the agreement. <br />Bob Wagner, broker representing Jess Graba, reported that Mr. Graba's <br />lender has looked that the letter of credit provision and occupancy permit <br />provision and felt the City is asking for double collateral. It was his <br />suggestion that the letter of credit provision be deleted. Wagner pointed <br />