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REGULAR COUNCIL MEETING <br /> 2 JANUARY 12 , 1993 <br /> PAGE 7 <br /> 4 - <br /> 5 <br /> 6 A letter , dated January 12 , 1993 , was distributed to the <br /> 7 Council . The letter reaffirmed Super Valu ' s commitment to <br /> 8 build an 88 , 000 square foot Cub Store at Apache Plaza . <br /> 9 <br /> 10 Mayor Ranallo referred to a recent article in a loca.1 <br /> 11 newspaper which addressed the concerns of a Minneapolis <br /> 12 City Councilmember , the Central Avenue Commercial <br /> 13 Association and MCDA regarding Super Valu' s decision not <br /> 14 to build a Cub Store at 18th and Central Avenues . It was <br /> 15 their consensus opinion that the store was not being <br /> 16 built as Super Valu is building at Apache Plaza . <br /> 17 <br /> 18 The City Manager suggested that this situation has never <br /> 19 been viewed as one of competition and that the City of <br /> 20 St . Anthony has never been concerned with what happened <br /> 21 at 18th and Central Avenues . He noted that Super Valu has <br /> 22 abandoned the store project at 18th and Central Avenues <br /> 23 for reasons other than a store being built at Apache <br /> 24 Plaza , two of them being the soil conditions and the size <br /> of the narcel available . <br /> It had been suggested that there may be a higher and <br /> 28 better use for the land at Apache Plaza where Super Valu <br /> 29 is intending to build . Alternative uses were examined by <br /> 30 the . City Council . It was found that a residential <br /> 31 development , such as Wexford Heights, woul'd still not <br /> 32 generate taxes equal to that of commercial* or industrial <br /> 33 developments . Councilmember Wagner noted that extreme <br /> a4 density of residential property may work but would have <br /> 35 to be low, moderate income residential developments . <br /> 36 <br /> 37 The City Manager observed that tax increment financing <br /> 38 could not be used for a residential development . <br /> 39 <br /> 40 The Mayor requested staff to review records for other <br /> 41 proposals for development of this property. He also <br /> 42 recalled that Bob Thistle, of Springsted Financial <br /> 43 Advisors , recommended commercial development and <br /> 44 inclusion in a tax increment finance district . <br /> 45 <br /> 46 Councilmember Enrooth noted that Apache Plaza had <br /> 47 requested two tax abatements in as many years. He felt <br /> 48 the addi t ion of the Cub Store was the only way to reverse <br /> 49 this trend. <br /> 50 <br /> • <br />