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City Council Regular Meeting Minutes April 23, 2002 Page 5 • Councilmember Thuesen asked of the overall impact of the projects that have been done along the way in relation to the 100 year-flood protection. Hubmer stated that the Edward Street and 33`d Avenue project was an example of money saved and a benefit to both homeowner and the City. Motion by Councilmember Faust, second by Councilmember Sparks, to adopt Resolution 02-039, re: Ordering sanitary sewer and water system studies. Motion carried unanimously. B. Resolution 02-042, re: Consider preliminary redevelopment agreement for the Northwest Quadrant with Pratt-Ordway. Jim Prosser, Ehlers & Associates, will be present. Len Pratt, Pratt-Ordway, came forward to discuss the progress of Pratt-Ordway and their plans before the Council looks at the actual Agreement. Pratt referred to the Communications Plan that they have been working on with the community. Pratt referred to the Pre-development Agreement, which will be discussed tonight, and TIF District financing. He indicated that he was meeting with the City of St. Louis Park, which has undertaken a large project on Excelsior Boulevard. He indicated that they • want to learn all they can in terms of past patterns, as well as what is in place right now. Pratt indicated that, in meetings with Metropolitan Council, he has been made aware of the projects that other cities are doing, which serve as a sort of format for the Metropolitan Council in terms of what project might be next. Pratt referred to the land assembly aspect of the project and indicated that they have been working diligently with various parcel-owners in order to meet them and understand their business and piece of property. Pratt indicated that they continue to work on the funding piece of the project, learning how supportive funding sources outside of the City are. He added that the project is well known outside of the area. Pratt stated that they continue to work on their design guidelines. He stated that the guidelines would assure the Council and City that the buildings will be built with standards,which are established in the design guidelines. Pratt stated that all of this coordination may not seem too important, but stated that it is all imperative to the entire process. Mayor Hodson asked about a timeline on the project. Pratt stated that 2002 would keep • them busy with all of the intangible aspects of the process. He stated that they anticipated construction to begin in early 2003. Mayor Hodson asked if there would be room on the land to have a nice restaurant where residents could get a good meal and drink. Pratt stated that he believed that there would