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City Council Regular Meeting Minutes October 28, 2003 Page 6 Councilmember Thuesen indicated he felt this was a safety concern at this location. He asked if 2 the tenant had answers for such questions. Commissioner Steeves noted this information was 3 being gathered at this time and noted the proposed building on this site does not look light 4 industrial. 5 6 Councilmember Horst noted there could be sites, which would be more suitable for an adult 7 daycare throughout the City. Mayor Hodson thanked Commissioner Steeves for his report. 8 9 VII. GENERAL POLICY BUSINESS OF THE COUNCIL. 10 A. Resolution 03-097 Approving the Redevelopment Agreement for the Northwest 11 Quadrant Relating to the Agreement with Pratt-Ordway(Apache Redevelopment). 12 Mr. Gilligan reviewed the resolution with the Council and indicated that Jay Lindgren also of 13 Dorsey&Whitney would be reviewing this item with the Council. 14 15 Jay Lindgren reviewed the development agreement with the Council. He reported on the tax 16 increment financing issues with this development and noted public improvements would be the 17 responsibility of the City. He indicated the open space ponding improvements and special 18 assessments were set forth in the agreement. 19 20 Jay Lindgren stated the line of credit from Fannie Mae has been provided and does require a 21 pledge of collateral from the City. He noted all closing costs with that loan are the responsibility 22 of the developer. He noted additional tax revenue from Phase I could be used to move Phase II 0 forward. He asked for questions and comments from the Council. 25 Mayor Hodson thanked everyone for their time and hard work on this development agreement. 26 He stated he was thankful there were no surprises at the end and that all has been clearly 27 hammered out. 28 29 Motion by Councilmember Faust, seconded by Councilmember Thuesen, to adopt Resolution 30 03-097, re: Relating to the Redevelopment of Property in Redevelopment Project Area No. 3 31 (known as Apache Plaza) and Authorizing the Preparation, Execution and Delivery of a 32 Redevelopment Agreement and Related Agreements. 33 Motion carried unanimously. 34 35 Mayor Hodson invited Len Pratt to the podium for comments on the future of Apache Plaza and 36 if a ceremony could be held in memory of this local icon. Mr. Pratt stated the Chamber of 37 Commerce has an annual ball that may be turned into a"wrecking ball'to commemorate the 38 space. He stated an official groundbreaking ceremony would possibly take place some time in 39 April. 40 41 B. Consider Resolution 03-091, re: Fund transfer for Public Facilities project. 42 Motion by Councilmember Faust, seconded by Councilmember Thuesen, to adopt Resolution 43 03-091, re: Fund transfer for Public Facilities project. 44 0 Motion carried unanimously.