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1 REGULAR COUNCIL MEETING <br /> AUGUST 25 , 1992 <br /> PAGE 11 <br /> 4 <br /> 5 <br /> 6 Other residents of the City expressed their support for the <br /> 7 location of a CUB store and the redevelopment plans for Apache <br /> 8 Mall . <br /> 9 <br /> 10 Ms . Mary Dorseth, of Briggs and Morgan, who is representing <br /> 11 the C.G. Rein Company, responded to the letter from the St . <br /> 12 Anthony Shopping Center legal counsel . She advised that the <br /> 13 lard is not being sold at a low price and that full market <br /> 14 value is being paid. She noted that funds from a tax increment <br /> 15 financing district can be used to pay the Costs of demolition <br /> 16 of an outmoded area in the shopping center. Regarding the <br /> 17 legal counsel ' s suggestion that the project does not meet the <br /> 18 requirement of substandard conditions, she noted that two <br /> 19 buildings are clearly substandard. Also, relocation of present <br /> 20 tenants is an acceptable reason for use of some of these <br /> 21 funds . <br /> 22 <br /> 23 Ron Hergers, President of the Apache Plaza Merchants <br /> 24 Association and Manager of Herberger ' s , advised that there has <br /> 25 been very positive support received from other merchants in <br /> 26 the mall for the redevelopment . He noted that attendance at <br /> 27 the Association ' s meetings has also increased. He feels the <br /> project will be good for St . Anthony Village and good for the, <br /> St . Anthony Shopping Center. <br /> 30 <br /> 31 Councilmember Wagner, who represents the City at the Apache <br /> 32 Plaza Merchants Association , confirmed the enthusiasm of the <br /> 33 merchants for the project and also has noticed the increased <br /> 34 activity at meetings. <br /> 35 <br /> 36 Ken Sundvold, manager of the J. C. Penney store at Apache <br /> 37 Plaza, is very supportive of the redevelopment and views it -as <br /> 38 a real plus for other merchants in the center. He advised of <br /> 39 a conversation he recently had with the manager of the <br /> 40 Woolworth' s store. Woolworth ' s has been evaluating its <br /> 41 operation and may even look at remodelling if the CUB store <br /> 42 goes into the area. Mr. Sundvold feels that other merchants <br /> 43 may consider upgrading their stores as well if this were to <br /> 44 occur. <br /> 45 <br /> 46 Mayor Ranallo stated there are fifty acres available for <br /> 47 redevelopment which would accommodate about seventy five <br /> 48 .homes . He noted that the value of properties as residential <br /> 49 development would have to be three times in value to generate <br /> 50 taxes similar to those coming - from commercial .. <br /> • <br />