2010.08.09 EDA Packet - Laserfiche WebLink

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HCity of ugo 14669 Fitzgerald Avenue North, Hugo, MN 55038 (65 1)762-6300 www.ci.hugo.mn.us DRAFT LETTER ONLY FOR DISCUSSION July 22, 2010 Brian Zeller Greystone Commercial RE: Ricci's property Forest Blvd. N. Dear Mr. Zeller, As you know, the City of Hugo's Economic Development Authority and City Council are interested in encouraging and assisting in the demolition of the vacant Ricci's building, which suffered damage due to a fire several years ago. This issue has been discussed by the EDA at its August 9, 2010 meeting, and the Hugo City Council at its August 16, 2010 meeting. They have authorized me to send this letter, offering the following: • The City recognizes your intention to sell the property. To the extent possible, the City will assist you in marketing the property, and will direct potential buyers to you or your real estate agents. • The City has made an investment in improvements to the intersection that benefits this property. The imrrovements include construction of a new traffic signal, and reconstruction of 147` Street and TH61. The improvements will be complete this construction season, and the City does not intend to levy any assessments against the property for these improvements. • The Washington County Sheriff's Office, and the City's Fire Department have expressed interest in conducting a training exercise inside the building before it is demolished. If there is an advantage to you in donating the building to the City for this purpose, it will be accepted by the City. • Once the building is demolished we understand that redevelopment of the site will eventually follow, and an application will be submitted to construct one or more buildings on the property. The City has created a Tax Increment Financing (TIF) District that includes this property, for the purpose of encouraging new development.