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65 <br /> Mike Mornson <br /> Stonehouse Redevelopment <br /> February 4, 2003 <br /> Page 4 <br /> 5. City's General Fund <br /> a. Relies on $250,000 annually from liquor revenue <br /> b. Redevelopment of SAV needs to assure City's General Fund gets $150,000 annually <br /> Ehlers is in the process of analyzing the financial feasibility of the stated options, and some variations <br /> thereof, in addition to reviewing the above stated outstanding issues. It is anticipated that the analysis <br /> will be completed at the time the Public Facilities Task Force makes their recommendation to the <br /> City Council in April 2003. If the Task Force recommends the construction of a new Fire Station and <br /> Public Works Facility, then Ehlers and City Staff will work with Amcon on finalizing negotiations <br /> for redeveloping the Stonehouse site, in accordance with the City Council approved option. <br /> Based upon the preliminary review of the development proforma submitted by Amcon and the <br /> proposed options, I am confident that if the City elects to proceed with the redevelopment, that <br /> Amcon will be able to complete it in accordance with the City's time frame and to the City's desired <br /> standards. Pease contact me at 651-697-8506 with any questions. <br />