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, � <br /> CONFlDENTfAI <br /> ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> NO. 00-183 <br /> November 29, 2000 <br /> TO: Honorable Mayor Terry M. Howley and City Council Members <br /> FROM: Steve Garm ity Manager <br /> A.J. Krieger, s istant City Manage� <br /> RE: Consideration o Downtown Property Purchase <br /> The attached memorandum is being sent today in order to prepare Council for consideration of a <br /> potential agenda item for Monday night. <br /> During the Monday, December 4, regular meeting we will recess to closed executive session for <br /> the purpose of discussing the purchase of property. As the attached memorandum indicates, the <br /> property is the east side of the 300 block of North Water Street, with the exception of the Carson <br /> Jewelry building. City staff is currently negotiating with the Carson building owners and expect <br /> preparation of a purchase agreement this month. As Council members will recall, we have <br /> previously discussed the purchase of this property in two closed sessions. Once totally acquired, <br /> the east side of 300 block of North Water Street will represent the first of a multi-phase <br /> downtown redevelopment effort. <br /> With Council members' pernussion, we will discuss the potential purchase during the closed <br /> portion of the meeting, and consider a resolution approving the purchase as an "Other Business" <br /> item in open session. Staff will be available to answer any questions <br />