CC WORKSESSION 05202003 - Laserfiche WebLink

Home Browse Search

Mike Morrison 17 May 6, 2003 Page 3 2. The City would like to have a new restaurant that would accommodate the existing pull tab establishment on site 3. The City would like to see an outdoor seating space accommodated by the restaurant 4. If the Public Facilities Task Force recommended that the City construct a new Fire Station/Public Works Facility, the City would need to relocate the existing Fire Station, which the timing of this and the redevelopment would have to coincide or a phasing plan worked out 5. This intersection is the gateway to the community and therefore, the design of the site would need to reflect this status; and 6. The City may like the redevelopment to generate some form of financial contribution to the development of a new Fire Station These goals were relayed to Amcon and their proposal reflects addressing all of the above referenced key points. 2. Will the County deed the needed Right-of-Way (ROW) to the City for redevelopment of this site? WSB, the City's Engineering Firm, has been coordinating with Hennepin County to deed the needed ROW to the project. At this time, the County has provided a revised ROW plan that preliminarily shows that the development, as proposed, can proceed with little revision. 3. How can the City be assured that the Sports Boosters will be accommodated at the new restaurant? Since the City will be participating in the redevelopment of this site, the City can place restrictions within the Development Agreement that state that the new restaurant user must accommodate the Sports Boosters. 4. Does Amcon have redevelopment experience and the financial capability to complete the redevelopment? Amcon has extensive experience in redevelopment, new commercial, office and industrial development, as well as construction and construction management services. Review of their financial statements indicate their ability to continue to receive bank financing, as well as raise required equity to invest in future projects (from pre-development to final construction). Ehlers has worked with Amcon in several other communities and is confident in their ability to complete the redevelopment of the Stonehouse site in a timely fashion. Every development we have worked with them on they have been able to provide the required equity investment, as well as the bank financing. It should be noted that as a development standard, proof of financing from a bank is required within the final Development Agreement between the City and any developer. If financing is not obtained by a certain time, this would constitute a default under the Development Agreement and the City could terminate the Agreement, if they so chose.