CC MINUTES 07221980 - Laserfiche WebLink

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-5- Accepted as agenda addendum under 9A was Mr. Fornell 's July 22nd report on the preliminary census countsfor the City. John Hatcher, the City' s representative to the PACAC Committee which provides citizen participation for .Hennepin County's Community Development Block Grant program, read his assessment of the program and its effect on the determination of how the CDBG funds are allocated'. His suggestions, for implementing greater, citizen input was deferred until after the .public hearing, on the issuance .of Commercial Development Revenue Bonds for the revitalization of Apache Plaza was held. The Mayor opened the hearing at- 8:35- P..M. . Ted Zinner, Jr. , Vice President and General Counsel for. the C. G. Rein Co. ,. managing agent for Apache Plaza, Ltd. , gave a slide presentation of the renovation projects and their anticipated costs for which he was seeking per- mission to sell the revenue bonds . Mr. Zinner reported agreement had been. reached with the Furniture Barns to utilize only 25 ,000 square feet of the Montgomery Ward space in. the Center, thereby leaving enough space to be subdivided for twelve new shops and an upgrading of that area. The attorney said he anticipates the number of jobs in the Center will be increased by at least sixty-five through this improvement. This project was included in the listing of projected costs submitted with the bond application... Mr. Zinner • anticipates an increase in tax revenues for the City with these improvements with no liability to. the City through issuance of the $1,500,00.0 bonds. Other benefits include assurance of a good healthy commercial district and prevention of further tax abatements from empty stores. General approval -of the revitalization. efforts was indicated by the Council but several expressed their concerns whether the improvements proposed went far enough to correct the .existing deteriorating conditions. The proposal committed $75,000 for the resurfacing and patching of the parking lot. This amount appeared to some Council members and to Doug Jones of the Planning Commission as inadequate. to address the problems with traffic patterns and general appearance of the Center. Prior to the hearing, Mr. Jones had suggested a need for a street plan for the Apache site which might alleviate some of the traffic problems on Silver Lane.. He said he believed. a profitable peripheral shopping center could be developed around the existing Center if a major roadway were developed. Mayor Haik told Mr. Zinner, the -residents' concerns about the condi- tions of the shopping center had been relayed to, the Rein- Company over the last twenty-five years .and Mr. Rein had been fully informed that the exterior aesthetics of the building are very important as • far as the City. is concerned. She preferred giving considerable more thought to exterior improvements before a vote is taken saying she