05-14-08 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL May 14, 2008 contraction that many users are in the midst o£ Abdo stated that he does not think the development of the City's site will be a slam-dunk, but noted that they would like the assurance of exclusive development rights for a period of time if they are going to invest their time and effort into this endeavor. Abdo felt that there may be some realities that will have to be faced in this development climate. The City may have to consider leveraging some of the value of the property into a really cool building so that the building becomes a showpiece for the area. Abdo indicated that he has had interest in the site from Subway, Regis, and Little Caesars' Pizza. Abdo suggested that having these users in a really cool building would be a plus for the City. Blesener suggested that perhaps the City might be better off waiting for a year or two in order to allow the market to change and in order to get the highest and best use. Abdo stated that that may be what has to happen, and suggested that it might take three years. He again pointed out his idea of focusing the attention on the building rather than the user. Keis asked Abdo how long an option agreement he was looking for. Abdo replied that six months would be needed. He noted that at the end of six months if it is determined that it is not in the City's best interests to continue on, that would be fine. Blesener pointed out the Oil Can Henry concept that Abdo Markethouse proposed, and noted that the City is not looking for auto-oriented businesses on that site. Abdo noted some of the developments that they have done, and indicated that design elements can be added to buildings to make them look spectacular. This is what he would hope to do in Little Canada. The Council agreed that a six month exclusive development agreement would be acceptable. It was felt that the City Administrator should draft that agreement, which would include timelines and goals, and submit it to the Council at its next meeting for review and action. The Council also indicated that while the agreement would be for six months, should there being something in the works, that agreement could always be extended. Mr. Montour introduced the following resolution and moved its adoption: RESOLUTION NO. 2008-5-123 -INSTRUCTING THE CITY ADMINISTRATOR TO DRAFT AN EXCLUSIVE DEVELOPMENT OPTIONAGREEMENT BETWEEN THE CITYAND ABDO MARKETHOUSE FOR THE PROPERTYAT RICE STREET AND VIKING DRIVE FOR CONSIDERATIONAT THE NEXT MEETING,