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B. Consider of 2023 Annual Report <br />Community Development Director Michael Grochala presented the annual report for <br />2023. The EDA approved the assignment of a Contract for Private Development related <br />to TIF District 1-12. The Authority also took action to approve the acquisition of tax forfeit <br />property in the Apollo Business Park. He shared information about building permit <br />valuation and permit totals for 2023. <br />He stated that staff did not recommend any changes to the enabling resolution. <br />Mr. Lyden asked for an update on the Otter Lake Road extension. Mr. Grochala explained <br />that the City Council had authorized preparation of plans and specifications for the <br />project. <br />Mr. Stoesz inquired about the potential impact the new ramps at the CRJ/35E interchange <br />would have on the Main Street area. Mr. Grochala opinioned that it would likely have <br />more of a positive impact on the Centerville Road/CR J area and the North Oaks <br />Companies property. <br />Mr. Rafferty requested update on the design considerations for the multiple intersections <br />associated with the interchange project. Mr. Grochala stated that Ramsey County was in <br />the project of hiring a consultant for final design. The board further discussed design <br />considerations for the interchange. <br />The board also discussed comparison between 2022 valuations and 2023 along with the <br />portion associated with Lyngblomsten. <br />ii. Motion to: Approve accept 2023 Annual Report <br />RESULT: <br />CARRIED [UNANIMOUS] <br />MOVER: <br />Rafferty <br />SECONDER: <br />Ruhland <br />AYES: <br />Rafferty, Ruhland, Lyden, Stoesz Cavegn, <br />C. Consider of Resolution No. 24-01 Approving Sale of Property in Apollo Business Park <br />Community Development Director Michael Grochala presented the proposed sale of <br />property to MIT USA. He explained this was a tax forfeit property acquired by the EDA in <br />2023 for $900.00. The EDA will retain a drainage and utility easement over the parcel <br />pending development of the site. Sale price was $900.00 plus all fees and costs incurred <br />by the City as part of the transaction. <br />