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Mounds View City Council July 23, 2007 <br />Regular Meeting Page 12 <br />Council Member Mueller agreed the City should pursue acquisition further to determine what • <br />the actual cost would be. <br />Council asked whether there would be funding available to purchase the property. <br />Director Ericson explained that the City could use TIF funds, storm water utility fees, or Park <br />Dedication fees to purchase the property. <br />Council Member Stigney said that the memo from Director Ericson suggested a joint purchase <br />with Ramsey County and he would like to know if that was pursued. <br />Director Ericson indicated that he has not discussed that with them as of yet. <br />Council Member Stigney said that he would like Staff to ask whether the resident would be <br />willing to donate the property for the tax credit. <br />2. Review Potential Parcel Acquisition at 2400 County Road H2 <br />Community Development Director Ericson explained that Roberts Sports Bar has closed and <br />Greg Waste is willing to work with the City on apotential acquisition: Mr. Waste has indicated <br />that he would be interested in selling the property to the City with a lease back option, so that he <br />could reopen his business, and the City would have control of the property as part of the <br />redevelopment project. Mr, Waste has indicated that if there is an agreement to lease the . <br />property back to him, he would be willing to discount the sale price to the City. <br />Mayor Marty asked for an explanation of the one RFQ that came in. <br />Director Ericson explained that the City received an RFQ from Master Development with <br />eazperience with infill developments and redevelopments in the metropolitan area. <br />Council Member Stigney said that he would like to make it known that Mr. Waste wants to sell, <br />and let a developer with priuate dollars develop this site. <br />Mayor Marty' explained that this property has been offered to the City, and that would allow the <br />City to control the redevelopment of the site, rather than a simple sale that would continue a <br />similar use of the property. <br />Council Member Flaherty said he would like to look into the options with this, and determine <br />Mr. Waste's price before making a decision. <br />Administrator Ulrich suggested an option on the property with a cash payment to hold the <br />property for six months at an agreed upon price. <br />Council Member Mueller asked whether the City would need to be concerned about potential <br />liability for purchasing the property and leasing it back to Mr. Waste. • <br />