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• <br /> MINUTES <br /> -AN HILLS <br /> • Traverse Business Center is still waiting on a committed tenant. Mayor Harpstead <br /> anticipates that the developer may request mow support and road improvements. This is a <br /> running TIF district; we have needs for this funding. This district is a pre-1990 district <br /> which means the funds can be used outside the district. <br /> TCAAP-the GSA negotiations moved forward in January. In the purchase document <br /> there is an escape clause for the developer and the City stating that we can rescind our <br /> purchase agreement and get our earnest money back. We have been moving the <br /> rescinding date back to give us more protection. (Also,bttrrec in the agreement is a credit <br /> category mechanisms)The GSA has indicated that the land has been endiscountedsfrom $80 <br /> million but has not provided any proot when we regt*cs4cd it. -We purchasedt4-for$15 <br /> million and the $35 million discount was a function of the demolition and the preparation <br /> for development. A confidentiality agreement has been signed between GSA and <br /> .4 developer; • • • I ' n <br /> isesofteleft/ial. ' n. There <br /> cfr are72 cate ones within thi3 agrccmcrit. One cate Ludes the movement of the <br /> tfri water purification system. Another category is t - clean ost of the land.wrizh <br /> . This clean up w ��•get ;i e landi p to standards for <br /> greed '*an now negotiating <br /> / <br /> � residential homes. on all 12 cat c�`'� k�a�acto ne otiatin dollar <br /> amounts for each category. The agreement states ra; t the development cannot start until <br /> all t ons are . Density of - here is plenty of space for the <br /> elpiaA esidential demand and the commercial dery hould be near the original estimates. We <br /> still have property access issues; th'a e cF eopardized the whole deal. <br /> The City is still searching for a ne°,, Administration. <br /> a <br /> VP' ` PTRC is working on two t �s alori_ ounty Road E and Old Snelling. This has not gone <br /> fl <br /> through as the funding for „larks,,t, d trails is not adequate funding for this project. <br /> They are looking towards ab " w,,efcicuduiii. 4,( -N 1% �- opt-'°'"-S <br /> Lastly, the B2 district which is south of the railroad tracks and north of County Road E <br /> from Snelling to Lexington, ld <br /> -Holiday-Inn. We don't an-Holiday-Inn. � . The small group <br /> plan is going through a RFP that will probably come back with recommendations as to <br /> what to do with this whole area to upgrade it from a commercial status. The next <br /> potential area is the Red Fox/Gray Fox area. It would be to the City, advantage to have <br /> a plan of what we want to see developed in that area as we do not want something <br /> developed that we cannot control. <br /> • <br />