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ty of <br /> <br />ITEM 4.7. <br /> <br />MEMORANDUM <br /> <br />iver <br /> <br />FROM: <br /> <br />Mayor & City Council <br /> <br />Pat Klaers, City Administrator <br /> <br />DATE: <br /> <br />October 7, 1996 <br /> <br />SUBJECT: MSF Worksession <br /> <br />Discussions between the city and the Minnesota Sports Federation (MSF) <br />have progressed to the point where it is appropriate for the City Council to be <br />updated on the MSF proposal along with all of the benefits, concerns, and <br />issues related to this proposal. MSF would like to enter into a Letter of <br />Intent with the city in the near future. This Letter of Intent will provide the <br />framework for a final agreement. By nature, a Letter of Intent is somewhat <br />general, however, this proposed Letter of Intent does include some specific <br />details. <br /> <br />MSF needs this Letter of Intent to identify the site for their facility so that <br />they can begin their fundraising efforts. The Letter of Intent between both <br />parties will indicate that if MSF completes certain requirements (mostly <br />financially related) then the city will follow through on its commitments <br />(mostly related to the site(s) and bonding for the project). In a sense, the <br />Letter of Intent indicates that if MSF does "A, B, and C", then the city will <br />enter into a development agreement with MSF and do "D, E, and F." <br /> <br />It is appropriate to discuss this proposal in a worksession so that everyone <br />can get a clear understanding of the proposal, the future obligations on both <br />parties, and the project timetable. In this manner, we can get all of the <br />benefits of the project and concerns about the project out on the table for an <br />open discussion so that there won't be any real surprises when the Letter of <br />Intent comes before the Council for formal action. Hopefully, this Letter of <br />Intent can be presented at the October 21, 1996, meeting. <br /> <br />Two dates are being suggested for a Council worksession with MSF. These <br />dates are Tuesday, October 15 at 7 p.m., or Thursday, October 17 at 6 p.m. <br /> <br />Action Requested <br /> <br />The City Council is requested to call a special meeting for a worksession with <br />MSF to discuss and evaluate the proposed project. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />