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CITY OF ST. ANTHONY <br /> RESOLUTION 03-047 <br /> RESOLUTION APPROVING REDEVELOPMENT OPTION FOR THE <br /> STONEHOUSE/SAV I AND FIRE STATION SITE <br /> WHEREAS, the City of St. Anthony Village is redeveloping the site commonly referred <br /> to as the Stonehouse site ("Redevelopment Site"); and <br /> WHEREAS, Amcon Construction ("the Developer") submitted four (4) redevelopment <br /> options for the Redevelopment Site to the City for review and consideration; and <br /> WHEREAS, the City requested its Financial Consultant ("Ehlers and Associates") to <br /> complete a fiscal analysis of the options; and <br /> WHEREAS, the City's financial goal was to continue to generate $125,000 annually to <br /> the City's General Fund when the redevelopment was completed; and <br /> WHEREAS, based upon review by Ehlers and Associates, the redevelopment option that <br /> meets the City's financial goal is Option#4 as listed on the attached memo. <br /> NOW, THEREFORE, BE IT RESOLVED by the City of St. Anthony Village as follows: <br /> I. That the City Council approves the development Option #4 which consists of the <br /> City retaining ownership of a portion of the land and owning its own Municipal <br /> Liquor Store and selling the remaining land to the Developer for development of a <br /> restaurant pad and addition retail space. <br /> 2. That the City Manager and City Attorney are hereby authorized to proceed with <br /> negotiating the terms of this redevelopment transaction and to prepare necessary <br /> documents for execution by the City. <br /> Adopted this day of 92003. <br /> May r <br /> ATTEST: A 1011 <br /> City Clerk <br /> Reviewed for Administration: <br /> • City Mana er <br />