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MEMORANDUM DATE: June 15, 1988 TO: Jim Andr e re FROM: Craig A. Waldron SUBJECT: Steve North memo on Concordia Academy I have had the opportunity to review Steve memo, and from a theoretical perspective I think it could possibly provide a good opportunity for the cit;•. I do see a number of problems which are listed as follows: 1. This development is on a fast track, and thus, securing the agreements from Ramsey County, Post Office etc., "up front" could be extremely difficult, particularly based on the Concordia/School District/Brutger time frame. 2. In instances where the acreage would potentially cut into the private development, it would negatively impact the increment, thus, diminished cash flow for debt service. However, if it were to be placed on the City's acreage, it could be workable and would not negatively impact debt service. This would, of course, have to be weighed against the desire to maintain open space on the site as part of the total recreation package. 3. At this point in time, King of King's church is not part of the deal, thus the post office would have to "steered" in this direction. In summary, from a theoretical context, this approach could make sense. However, based on the fast track nature of this proposal, we would have to try to structure our land configuration in such a manner that it would facilitate an eventual layout that would accommodate Steve's proposal. Secondly, in my opinion, it would be important to obtain Bob Bierscheid's opinion as it relates to this project based on the fact that in order to insure proper increment, the public facilities would have to be constructed on the city acreage. As I continue to negotiate with Brutger, I will bounce "this proposal" off of Norm Vinnes.