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<br />I <br /> <br />I <br /> <br />I <br /> <br />city of New Brighton <br />May 25, 1982 <br /> <br />proposed and tax increments projected to be <br />generated. Mr. Wyzinski also noted that they <br />were completing a rate of return analysis <br />which should be finished in the near future. <br /> <br />Acting Mayor Blomquist questioned what the <br />schedule of events was. <br /> <br />The Director of community Development replied <br />that it is hoped that staff can put together <br />a complete package showing the developer agreement, <br />all the guarantees required, appropriate cash flow <br />analysis and all other factors relating to this <br />agreement in order that the Council could have <br />ample review time prior to a hoped for decision <br />on June 8, 1982. <br /> <br />Acting ~ayor Blomquist stated that he would like <br />a cowplete package with ample time to study prior <br />to taking any action. <br /> <br />Mr. Larry Karlen, 173 Windsor Court, stated that <br />on behalf of the Chamber of Commerce he would urge <br />the Council to proceed with the development as soon as <br />possible. Mr. Karlen stated that there is a growing <br />concern in the business community and in the City that <br />nothing will be done downtown. Mr. Karlen further <br />noted that the downtown redevelopment has been <br />discussed in this City for almost 20 years and <br />that something should be done now or the opportunity <br />that now exists may be lost. <br /> <br />Mr. Orv Kraus, 1252 12th Avenue NW, stated that he also <br />would urge the Council to act, that he felt that <br />this development was much needed for the City and <br />that with appropriate safeguards the development <br />would be good not only for the downtown but for <br />the City as a whole. <br /> <br />Mr. Denny Spalla, Kraus-Anderson Development Corporation, <br />urged the Council to act as soon as possible noting <br />that the City had an extremely qualified staff and legal <br />group and that in McCullough and Company the City has <br />a quality developer with an excellent development team <br />who are here, real and who want to do something. <br /> <br />Councilmember Schmidt stated that he expected staff <br />to prepare the best possible agreement and to <br />provide that package to the City for review. <br /> <br />It was the consensus of the Council that provided <br />staff can negotiate an acceptable agreement, the <br />Council would consider the agreement on June 8th. <br /> <br />-6- <br />