1998-10-09 First Draft of DA Letter•
Michael C. Couri•
Andrew J. MacArthur
Marcus W. Miller
'Also licensed inlllinois
October 9, 1998
COURI & MACARTHUR
Anorneys at Law
705 Central Avenue Fart
PO Box 369
St. Michael, MN55376
(612) 497-1930
(612) 497-2599 (FAX)
VIA FACSIMILE AND U.S. MAIL
Mr. Michael M. Knowlton
Culver Sheridan Knowlton Even & Franks
250 Terrace Plaza
P.O. Box 629
Muskegon, Michigan 49443
Re: City of Albertville; The Minneapolis Outlet Center.
•
Dear Mr. Knowlton:
As we discussed yesterday, enclosed is a first draft of a developer's agreement for
the proposed outlet mall. Please note that the agreement has not been reviewed by the
City engineer, planner or administrator. I expect that they will have significant revisions
and/or additions which will show up in the second draft. Please review the draft and send
any comments to Marcus Miller of our office, who will be dealing with this matter while
I am out of town.
Also as we discussed, in regard to the City's offer to compromise the fees issue
with the payment of $300,000 in cash and conveyance of the approximately 38 acres
north of the proposed mall to the City, City staff is considering the feasibility of reducing
the $300,000 to $150,000, and spreading this amount in the form of a special assessment
over five to eight years at an interest rate of approximately 6%. This approach may allow
the City to issue bonds to fund the improvements made necessary by this project. Please
let me know how this proposal may fit within your budget. I expect that we will need to
reach an agreement on the fees issue in early November if a November final approval is
to be had.
•
• Mr. Michael Knowlton
October 9, 1998
Page 2 of 2
Sincerely,
~~~
Michael C. Couri
Couri & MacArthur
Enclosure
Cc: ',,11iIr. Dave Lund
Mr. Pete Carlson
Ms. Liz Stockman
•