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• APPENDIX A PROJECT DESCRIPTION Medtronic Campus I-35W & State Hwy 10 Mounds View, Minnesota Introduction The Bridges of Mounds View Golf Course is a City-owned course encompassing approximately 72.2 acres. In the fall of 2004 Medronic, Inc. began negotiations with the City to purchase the property for the purpose of developing an office complex on the site. The site poses a number of challenges for redevelopment of a business office complex of the quality required by Medtronic. The current site has acreage that is not buildable and wetland relocation will be required. The site is configured such that additional adjacent properties will need to be acquired, businesses relocated and building demolished to assemble a site that will allow the proposed project to be constructed. Additionally, the site issues include the need for an access road, lack of utilities and the removal of up to six billboards located on the site. New Medtronic Corporate Campus Medtronic, Inc. is the world's leading medical technology company, providing lifelong solutions for people with chronic disease. Its products include those for cazdiac rhythm management, cardiac surgery, vascular, neurological, spinal, diabetes, and for ENT surgery. The company has conducted a search throughout the Twin Cities for a new corporate campus that would meet the growing reseazch and development needs of the . Cazdiac Rhythm Management (CRM) division of this growing company. In the Fall of 2004, Medtronic began focusing on the Mounds View site for locating its new CRM campus because: 1. The area is large enough to allow Medtronic to expand and combine multiple facilities, including several temporary locations, into a new cohesive, efficient and motivational campus environment for employees. At a minimum the Company wants 60 buildable acres of land. The golf course location has the potential to provide the necessary space. 2. The City of Mounds View is centrally located in the North Metro area which will accommodate current Medtronic employees and will be a suitable site for attracting future employees. The Company has done an analysis of its employee base and found the Mounds View location to be efficient and ideally situated in relation to its employees. 3. The Mounds View site offers a highly visible location with several transportation options, including access to I-35W and State Hwy 10. The proposed site provides over one mile of visibility on two major thoroughfares. The appraisal undertaken by the City indicated that the highest and best use of the land would be for a commercial office or mixed-use development. 4. The Bridges campus is geographically close to Medtronic's Rice Creek and Headquarters campuses in the City of Fridley. 5. Medtronic already has its North American Distribution Facility in Mounds View located just off of County Highway 10. • APPENDIX A-i