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City Council Regular Meeting Minutes June 24, 2003 Page 5 1 suburban communities, attracted sector investment or provided employment opportunities for 2 residents. 3 4 Mr. Momson added that, for the 2003 funding round, staff wished to submit an application for an 5 $850,000 implementation grant that would be utilized for development of a central park with 6 lighting, kiosks, benches, etc., as well as improvements to the storm water and infiltration ponds. 7 If awarded funds, the City would be able to assure that the public park would be developed as 8 originally envisioned by the City Council and Task Force. In addition, the existing water quality 9 issues could be adequately addressed. 10 11 It was noted that application would be submitted to The Metropolitan Council on June 30, 2003, 12 and funds would be awarded in November. 13 14 Mr. Mornson stated that the City had applied for a grant last year, and the grant had been denied. 15 He said that this year representatives from the City had met with Metropolitan Council staff 16 several times and, as a result, were asking for the grant of$850,000 to help put a park system 17 into Apache Plaza. Mr. Morrison added that he had just been advised that the City had been 18 awarded an environmental grant in the amount of$585,000 that would be designated for 19 asbestos abatement at Apache Plaza. The Council applauded Ms. Kvilvang's efforts in applying 20 for and receiving the environmental grant on behalf of the City. 21 22 Motion by Councilmember Faust to adopt Resolution 03-044, authorizing application for a 23 development grant through the Livable Communities Demonstration Program. 24 25 Motion carried unanimously. 26 27 E. Consider Resolution 03-047 re Approve redevelopment option for Stonehouse/SAV 1 28 and Fire Station site. 29 Stacie Kvilvang, Ehlers and Associates, came forward to address the Council. She noted that on 30 December 12, 2002, Amcon Construction submitted a proposal to the City to redevelop the 31 Stonehouse/SAV 1 and Fire Station site. Amcon submitted four redevelopment options for the 32 Redevelopment Site to the City for review and consideration. After review of the options, it was 33 recommended that the City Council approve the development option that consisted of the City 34 retaining ownership of a portion of the land, owning its own Municipal Liquor Store and selling 35 the remaining land to the Developer for development of a restaurant pad and additional retail 36 space. Ms. Kvilvang explained how this option brought the most revenue into the City's general 37 fund. She also listed the future steps that would be required to complete the project. She added 38 that on July 22, 2003, the Council would decide how the financing would be accomplished. 39 40 Councilmember Faust asked if the final numbers would be available in the final Development 41 Agreement. Ms. Kvilvang responded that they would. Councilmember Faust asked who would 42 "eat the cost" if unexpected expenses were uncovered. Ms. Kvilvang stated that the numbers in 43 the final Development Agreement would include any unexpected expenses, as those numbers 44 would be known by that time. 45 46 Councilmember Thuesen asked City Manager Morrison if he was comfortable with the potential 47 options available in a situation where the land sale receipts were not adequate to finance the