HomeMy WebLinkAbout5.d. Review of Motel Development Proposals CITY OF ROSEMOUNT
FXECUTIVE SUbIlKARY FOR ACTION
PORT AUTHORITY COMMISSION MEETING DATE: SEPTEMBER 21, 1993
AGENDA ITEM: REVIEW OF MOTEL DEVELOPMENT AGENDA SECTION:
PROPOSALS WORK SESSION
PREPARED BY: JOHN MILLER, , AGF�NDA ��p/� � �
ECONOMIC DEVELOPMENT COORDINATOR iVf �
ATTACFINIENTS: CORRESPONDENCE FROM RAY ANDERSON AP .
In an earlier memorandum I reviewed the process used to get motel proposals
for your review by September 21. At that time it appeared we would be
getting one or two proposals from very aide firms. It didn' t happen. The
franchise I was most enthusiastic about (Mote1 Development and Management)
was not able to complete bank financing in time for the proposal deadline.
Attached please find a personal note from Ray Anderson. Comfort Inn is
still interested in working with Anderson and he claims to still have his
inve'stors interested in a motel . I ha�re confirmed that he has been working
with Apple Valley on a site in that city. Mr. Anderson states he is still
interested in Rosemount. I will give a verbal update on the Apple Valley
situation at the meeting.
Before looking at other options to get a motel in Rosemount, I would like
your direction to negotiate an exclusive development agreement with Ray
Anderson for your review and consideratione This would limit the port
authority to negotiating only with Ray Anderson and Comfort Inn for
probably six months, giving Anderson the security he needs to complete his
financing and franchise package. Anderson in turn would provide an escrow ,
to cover the port authority' s legal, fiscal, and engineering (if any)
costs. The exclusive development agreement would guarantee any site plan
approvals.
RECOI�IENDED ACTION: Motion to direct John Miller to negotiate an
exclusive development agreement with Ray Anderson Associates for the
construction of a Comfort Inn Motel in Rosemount.
PORT AUTHORITY ACTION:
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