EDA SUM 2004 01 12CHANHASSEN ECONOMIC
DEVELOPMENT AUTHORITY
SPECIAL MEETING
SUMMARY MINUTES
JANUARY 12, 2004
Chairman Furlong called the meeting to order at 8:20 p.m.
MEMBERS PRESENT: Tom Furlong, Steve Labatt, Brian Lundquist, Bob Ayotte, and
Craig Peterson
STAFF PRESENT: Todd Gerhardt, Justin Miller, Elliott Knetsch, and Bruce DeJong
UPDATE ON CHANHASSEN BOWLING ALLEY PROJECT.
Justin Miller provided background information on this item. There's been a delay
because of the holidays but now that it's the new year, people are back in town and
negotiations are continuing. The City basically has all of it's items taken care of. There
needs to be a meeting between Market Street Station and the movie theater to settle some
final issues. Todd Gerhardt stated he would recommend staff provide an update at the
January 26th meeting. Commissioner Peterson asked staff to walk him through the
options and the merits of giving a 30 day notice now. Elliott Knetsch provided a legal
opinion regarding the purchase agreement. Chairman Furlong asked Mike Korsh with
Kraus Anderson to provide an update from their perspective on where they're at in the
process. He stated there are only a couple of minor issues, but that Market Street Station
has made considerable concessions. The remaining items are affecting it's ability to lease
out the project. Commissioner Lundquist stated that given the time, and two deadlines
have passed, he was in favor of enforcing the 30 day notice for termination to help force
the issue. Commissioner Peterson stated he was leaning in the same direction as
Commissioner Lundquist. Commissioner Labatt stated he was in favor of giving them 2
weeks, until the 26th, to come to an agreement because it will only get more complicated
bringing a new party into the situation. Commissioner Ayotte stated he was not
comfortable invoking the 30 day notice at this point but feels uncomfortable because he
doesn't have a sense what the real issues are. He stated he didn't have a comfort level in
knowing is there was going to be a resolution with the cinema. Chairman Furlong stated
since this is the first time the EDA has had a chance to meet since the passing of the
December 14th deadline, it makes sense to meet again in 2 weeks hoping to see some
progress and successful completion of the negotiations and that a closing date has been
set.
Commissioner Lundquist made a motion to invoke the formal 30 day cancellation notice
to the purchase agreement with Market Street Station. There was no second and the
motion died for lack of second.
Economic Development Authority Summary - January 12, 2004
Mayor Furlong did not feel the EDA needed a motion to adopt staff' s recommendation
and ask that all interested parties be present at the meeting on January 26th to make a
presentation.
APPROVAL OF MINUTES: Labatt moved, Ayotte seconded to approve the
Minutes of the Economic Development Authority meeting dated November 10, 2003
as presented. All voted in favor and the motion carried unanimously with a vote of
5to0.
Ayotte moved, Peterson seconded to adjourn the EDA meeting. All voted in favor
and the motion carried. The EDA meeting was adjourned at 8:50 p.m.
Submitted by Todd Gerhardt
Executive Director
Prepared by Nann Opheim
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