If the bank wants to talk, and the council voted to consider talk, then the City as a first step should require disclosure of the "potential buyers" that Minnwest's spokesperson, Bushman, spoke of in general (but with a refusal to publicly identify them via the press). What thinking do each of them have, how compatible would any of them be with City aims, etc. Make up some litmus tests, and then do some litmus testing. Know who you might be dealing with. Before concession-making, not as an after the fact surprise.
There is no cause for the bank to expect it can buffer the City away from such potential development contacts, while asking the City for concessions. That would be unreasonable.
Also, it appears from Pioneer Press reporting that the Community National Bank was given an exclusive dealing franchise for banking in Town Center - a franchise that Jim Deal reportedly purchased, holds, and intends to enforce.
Hence, inquiry is suitable into what other exclusive dealings or franchises were given out by Nedegaard's RTC, LLC, and whether the bank in negotiations wishes to have ANY such arrangement honored while at the same time seeking major concessions from the City.
Again, that would be an unreasonable bank negotiation position to be rejected totally and unequivocally.
It there's to be rewriting, then a key question is, "What's now written," that EITHER side would like to keep and not give up.
If anything's on the table, everything should be.
A whole fresh cut of the cards and dealing of new hands all around would be proper. With no player keeping any aces up the sleeve to play later for raking in a humongo sized pot off the table, by surprise.
For instance, has anyone obtained "exclusive" rights to build a commuter rail station with restaruant space or retail outlets a part, and if so, who and under what terms? Has there been any franchise for retail of any kind awarded by Ramsey Town Center LLC that has survived bankruptcy to rear its ugly head? An interest in real property not recorded and revealed is different from personal property rights such as business franchise rights. Security interests not duly perfected are not binding on bona fide parties without notice. But what of franchise rights previously conveyed but not litigated as cliams before the bankruptcy court? What exactly was done, in bankruptcy court? What were outcomes, in terms of limits of court actions and judicial decision-making as well as in terms of affirmative decisions clearly made of record? The devil's in such details.
PIN IT ALL DOWN BEFORE DOING ANYTHING PERMANENT OR STUPID.
Avoid surprise. Pin down ALL relevant facts now. Pin down who is a real player, or real potential player, and what each would expect beyond what City and bank might consider in negotiation. It is part of working things out to know what things need attention, to be worked out.
