1996-02-07 Concept Plan
02-07-1996 04:06PM
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FR~ADZWILLLAWOFFI~E
TO.
49732100
P.02
XEKORHDtJK
TO: GARY HALE, CITY ADMINISTRATOR; ALBERTVILLE CITY COUNCIL
FROM: MIKE COURI, CITY ATTORNEY
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SUBJ CT:: NEw KENCO CONCEPT PLAN
DA'l'E: FEB~UARY 7, 1.996
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, , ' I agree with the concept plan analysis presented in NAC' s most
rece t ?raft report and would like to further emph~size two points.
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, Eilrst, the new golf course in Buffalo was recently foreclosed
upon y: the oakley Bank (the Oakley Bank was the only bidder at the
Sher' ff,' s sale) and the golf course developer, Rem-Con, Inc., filed
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for Iapte+ 11 Bankruptcy protect~on on January '24, 1996. What
will ltimately happen to the new golf course and:its developer is
uncI ar: at this point, but the fact that the :golf course has
defadlt~d on its financial obligations is siqnific~nt for the area.
, . II do not intend to insinuat7 that the same fate will happen to
Kencq. ' To the contrary, Kenco ~s a strong, proven developer with
hous~n9 development experience in Albertville, Buffalo, st. Cloud
and ~akdale. ' Instead, the BUffalo experience raises questions
rega ding the feasibility of construct~g an~ther golf course ~n
the rea. As part of any PUD process 1n wh~ch a golf course ~s
inco~pqrated, I would suggest that the city require the developer
to PJoVide the City with a market study demonstrating the market
will support a golf course in Albertville. If : the golf course
prop Ised by Kenco were to fail financially at some point in the
near I future, it could radically al ter the PUD as currently
enVi1icmed.
, Second, it is my understanding that Kenco would like to move
dirt on this plat in April or May of this year. : City policy has
been to: allow grading only after final plat approval, execution ,of
the jeVelOper's agreement, and the proper letters_of credit have
been put in place. Because of the complexity and the number of
outs.andinq issues involved in this plat, I would recommend 'the
pres~n~ policy be continued as to this plat. '