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EDC Minutes February 1, 2002 Page 2 Qp p rowed B. Report of EDA Liaison: The Mounds View City Council has agreed that Mayor Rich Sonterre will be the EDA Liaison during 2002. He was not available for today's meeting. C. NB-MV Chamber of Commerce Update: Chairperson Belting indicated that the New Brighton-Mounds View Chamber has hired a new President, Jim Witkowski, who started last month. His goal is to increase membership and reinvigorate the Chamber,which has been without a President for much of 2001. Cindy Carlson is the new Chairperson for the Chamber Board of Directors. D. Report of Staff: 1. Mermaid Project Update: Backman relayed that the $9.0+ million Banquet and Hotel expansion at the Mermaid is about 70% completed. This is a big deal for the community in terms of tourism and other services that will benefit. He added that the City's role includes approving $815,000 in revenue bonds last fall. 2. Highway 10 Revitalization Plan Update: Ericson indicated that the City of Mounds View was moving forward with the development of a Master Plan. Greg Lee, Public Works Director and Ericson met with URS/BRW,the Minneapolis consulting company,this week regarding changes to the plan. The idea is to present a plan that improves safety, provides street realignments, signs, crosswalks and trails. An open house is slated for the middle of March. 3. Sale of 2091 Hillview Road Property: Ericson highlighted that this four-plex is located in the northeast portion of the city. Closing on the sale is slated for late February. The main priority was for the EDA to sell the building to a housing group that was experienced in purchasing property, renovating and operating housing stock. The EDA purchased the property for $80,000 and is selling it for $100,100. The acquiring group selected is investing over $235,000 into the property for purchase and renovation. 4. I-35W Corridor Coalition: Backman mentioned that the I-35W Corridor Coalition is an organization of seven contiguous cities to the north of Minneapolis and St. Paul. The communities (Arden Hills, Blaine, Circle Pines, Mounds View, New Brighton, Roseville, and Shoreview) seek to address issues that cross municipal boundaries. These subregional issues include transportation, housing, GIS, and workforce. Ericson noted that as the Twin Cities metro area grows, a good portion of it will occur in the north metro area. A Build-Out Study is underway now and will be presented before the EDC when completed. 5. Mounds View Square Developments: Backman spoke about the Grand Opening yesterday by Petters Warehouse, now the largest tenant(22,000 sq. ft.) in Mounds View Square. He and Ericson met with Ken Henk, Director of Development for Paster Enterprises (owner of the shopping center). They are working with several prospective businesses to fill up the remaining vacancies.