4.7. SR 10-07-1996ty of
ITEM 4.7.
MEMORANDUM
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FROM:
Mayor & City Council
Pat Klaers, City Administrator
DATE:
October 7, 1996
SUBJECT: MSF Worksession
Discussions between the city and the Minnesota Sports Federation (MSF)
have progressed to the point where it is appropriate for the City Council to be
updated on the MSF proposal along with all of the benefits, concerns, and
issues related to this proposal. MSF would like to enter into a Letter of
Intent with the city in the near future. This Letter of Intent will provide the
framework for a final agreement. By nature, a Letter of Intent is somewhat
general, however, this proposed Letter of Intent does include some specific
details.
MSF needs this Letter of Intent to identify the site for their facility so that
they can begin their fundraising efforts. The Letter of Intent between both
parties will indicate that if MSF completes certain requirements (mostly
financially related) then the city will follow through on its commitments
(mostly related to the site(s) and bonding for the project). In a sense, the
Letter of Intent indicates that if MSF does "A, B, and C", then the city will
enter into a development agreement with MSF and do "D, E, and F."
It is appropriate to discuss this proposal in a worksession so that everyone
can get a clear understanding of the proposal, the future obligations on both
parties, and the project timetable. In this manner, we can get all of the
benefits of the project and concerns about the project out on the table for an
open discussion so that there won't be any real surprises when the Letter of
Intent comes before the Council for formal action. Hopefully, this Letter of
Intent can be presented at the October 21, 1996, meeting.
Two dates are being suggested for a Council worksession with MSF. These
dates are Tuesday, October 15 at 7 p.m., or Thursday, October 17 at 6 p.m.
Action Requested
The City Council is requested to call a special meeting for a worksession with
MSF to discuss and evaluate the proposed project.
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