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<br />~-~-~- - ~ <br /> <br />OFFICE OF CITY COUNCIL <br />307 City Half <br />Mjnneapolis Minnesota 55415.1383 <br /> <br />Phone: 673.2213 <br /> <br /> <br />minneapol~s <br />city 01 lakes <br /> <br />STEVE MINN <br />COUNCIL MEMBER, THIRTEENTH WARD <br /> <br />November 3,1998 <br /> <br />Paul Maenner <br />Pinehurst Properties <br />1100 F oshay Tower <br />Minneapolis, MN 55402 <br /> <br />Re: Pinehurst Development at 50th & France <br /> <br />Dear Mr. Maenner: <br /> <br />The City of Minneapolis and the Minneapolis Community Development Agency (MCDA) have worked <br />diligently with your finn to facilitate redevelopment of the northeast comer of 50~ and France. This is a <br />vital commercial intersection for the city of Minneapolis, the 13th Ward, and the Southwest Community, <br />and Pinehurst's development plan allows for the implementation of the Fulton Neighborhood Master Plan, <br />a plan that evolved over five years of neighborhood planning. <br /> <br />To date, the project has received the following Planning Commission, City Council and MCDA Board of <br />Commissioners' approvals: <br /> <br />. 50111 & France Tax Increment Finance Plan (June 26, 1998) <br />. Issuance of a Tax Increment Financing Note (June 26, 1998) <br />· 50th & France City Development District Plan (June 26, 1998) <br />· Site Plan, Variances and Alley Vacation (July 27, 1998) <br /> <br />The MCDA Board of Commissioners authorized the Executive Director, on behalf of the MCDA, to enter <br />into a Redevelopment Contract with France Partners, L.L.c. (pinehurst Properties). Your recent execution <br />of this document ensures the timely commencement of this project. As part of the project, the City will <br />contribute up to $430,000 to the Development District for public improvements and expansion of the <br />Ewing Avenue Parking Lot. [fnecessary, the MCDA will exercise its powers of emin'ent domain to assist <br />in assembling the project area. ' <br /> <br />\. <br /> <br />This is an important project for the City and one that I am committed to seeing through to completion. <br /> <br /> <br />..... <br /> <br />TOO {6121 673.2157 <br />AFFIRMATIVE AcnON EMPLOYER <br /> <br /> <br />I~ <br /> <br />5t e Minn \ <br />!Dority Leade <br />Council Member - Ward Thirteen <br />sm/kc <br />....... <br /> <br />~ <br />~,' ;1 ~I <br />, , <br /> <br />* <br /> <br />Recycled Paper 30". <br />Post COn5r;mer Fiber <br />