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2010.09.13 EDA Packet
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2010.09.13 EDA Packet
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Commissions
Meeting Date
9/13/2010
Document Type
Agenda/Packets
Commission Name
EDA
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HCity of <br /> ugo 14669 Fitzgerald Avenue North, Hugo, MN 55038 (651)762-6300 www.d.hugo.mmus <br /> September 9, 2010 <br /> Brian Zeller <br /> Greystone Commercial <br /> 836 Minnesota Street S <br /> Bayport, MN 55003 <br /> RE: Ricci's property <br /> 14777 Forest Blvd. N. <br /> Hugo, MN 55038 <br /> Dear Mr. Zeller, <br /> As you know, the City of Hugo's Economic Development Authority and City Council are <br /> interested in encouraging and assisting in the demolition of the vacant Ricci's building, <br /> which suffered damage due to a fire several years ago. <br /> This issue has been discussed by the EDA at its August 9, 2010 meeting, and the Hugo City <br /> Council at its August 16, 2010 meeting. They have authorized me to send this letter, offering <br /> the following: <br /> • The City recognizes your intention to sell the property. To the extent possible, the <br /> City will assist you in marketing the property, and will direct potential buyers to you <br /> or your real estate agents. <br /> • The City has made an investment in improvements to the intersection that benefits <br /> this property. The improvements include construction of a new traffic signal, and <br /> reconstruction of 147' Street and TH61. The improvements will be complete this <br /> construction season, and the City does not intend to levy any assessments against the <br /> property for these improvements. <br /> • The Washington County Sheriff's Office, and the City's Fire Department have <br /> expressed interest in conducting a training exercise inside the building before it is <br /> demolished. If there is an advantage to you in donating the building to the City for <br /> this purpose, it will be accepted by the City. <br /> • Once the building is demolished we understand that redevelopment of the site will <br /> eventually follow, and an application will be submitted to construct one or more <br /> buildings on the property. The City has created a Tax Increment Financing (TIF) <br />
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