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• PLANNING COMMISSION Page 6 <br /> September 16, 1998 <br /> A visual presentation was made using concept plans that had been developed by the Hoisington <br /> Koegler Group, the City's design consultant with input from various Commission and City staff <br /> personnel. The Consultant had used the Theme "Woods and Wetland." This theme does use <br /> components of the "Mainstreet" theme which used neighborhood roads to bring the community to <br /> the "main corridor." <br /> The Council has asked the staff to draft a design implementation report as well as explore <br /> potential funding for the project's $3 million plus budget. Staff is recommending that the <br /> Highway 10 Corridor Project be included in the City's Comprehensive Plan Update. <br /> B. Theater Project Update <br /> Director Jopke gave his report as follows: <br /> A Development Agreement has been executed with Anthony Properties. The City and the <br /> Developer have agreed to "work together" to solve any traffic problems that may result from <br /> opening of the theater before the signalized intersection at Highway 10 and Edgewood Road is <br /> ready. SEH has been given authorization to complete the final design for this signalized <br /> • intersection, which will also service the City's New Community Center. <br /> One or two of the office buildings that are part of the development may be built on a "spec" basis. <br /> Plans and specification for these buildings will be forth coming from the developer earlier in the <br /> fall. <br /> C. Mermaid Hotel/Banquet Facility Update <br /> Director Jopke gave his report as follows: <br /> September 28, 1998 is the target date for the Development Agreement on this project As part of <br /> this Development Agreement the City would provide $1.7 million in TIF assistance to the <br /> developer. These funds would cover site improvements and acquisition of the land, other than the <br /> Rent-All site on the corner of Highway 10 and County Road H. The City would be solely <br /> responsible for acquiring the Rent-All site and relocating the business, a sum of approximately <br /> $550,000. Staff is currently in the application process for a Minnesota Department of Trade and <br /> Development grant which will, if successfully awarded, offset some of the costs of this project. <br /> Metro Transit has also expressed very strong interest in developing the Rent-All site as a possible <br /> Park&Ride. If this project goes forward there is a potential that the Metro Transit will share in <br /> some if not a large portion of the funds necessary to complete the project. <br /> • D. Greenfield Ponds Tax Forfeit Properties <br />