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• <br /> MEMORANDUM <br /> DATE: October 19, 1984 <br /> TO: St. Anthony Housing and Redevelopment Authority <br /> FROM: David Childs, Executive Director <br /> SUBJECT: Walbon Property <br /> ------------------------------------------------------------------------------- <br /> After much waiting, we have received a property appraisal , reuse appraisal , <br /> fixture appraisal and a relocation estimate for the Walbon Property located <br /> at 33rd and Old Highway 8. Dick Krier has reviewed the f-igures versus the cash <br /> flows which were run by Springsted on June 21st. We have determined that the <br /> project is, indeed, feasible and recommend that we begin to negotiate with <br /> the Wa.lbon'.s. <br /> This memorandum does not contain any cost figures because of the critical <br /> nature of negotiations for property, but the H.R.A. may go into a short <br /> • executive session to discuss these items so that they can make an educated <br /> decision on whether or not to proceed with the Walbon Redevelopment Project. <br /> Major steps that are needed include (not necessarily in order) : <br /> 1 . Establishment of a tax increment district (including hearings) ; <br /> 2. Preparation of a tax increment plan; <br /> 3. Rezoning the property (including hearings); <br /> 4. Negotiate a purchase agreement with Walbon's; <br /> 5. Negotiate a redevelopment agreement with some redeveloper; <br /> 6. Determine the methods and procedures for financing the purchase, <br /> i .e. , bonding or internal financing: <br /> We will try to touch on all of these items on Tuesday night. <br /> DMC/cjk <br />