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EDC Minutes April 16, 2004 Page 2 D. Report of Staff: 1. Hwy 10 Business Center Project: Backman has passed along business prospects to John Kopas for filling out the remaining space in the Hwy 10 Business Center. Nothing has been firmed up yet regarding the fourth bay. 2. PUD Amendment to Allow Religious Institution as a Permitted Use for Building N in M.V. Business Park (Bethlehem Baptist Church): The sale of the building is contingent upon the City approving an amendment to the PUD to allow a religious organization to be located in the Mounds View Business Park. The PUD amendment was discussed at a public hearing on April 12, 2004. The issue went before the Planning Commission on March 3, 2004. The Commission recommended approval of the amendment from a landuse perspective. (e.g. there is sufficient parking for the church at the proposed site). The main issue is the financial impact to the City if the property becomes tax exempt. Property tax revenue would be lost. While a PILOT has not been agreed to, the church has offered to spend $25,000 per year (the Service Project Fund). A committee of City and Church representatives would allocate resources for park and rec projects. An additional $5,000 per year would be paid directly to the City to offset the loss of TIF administrative fees. These payments would occur over ten years. Belting asked how long the $25,000 would be paid. Backman replied that they would continue indefinitely. Belting inquired about the termination of the TIF Agreement with Michael Investments. Backman believes that church and the holder of the TIF Note will seek to terminate the TIF Agreement. Field asked about legal costs reimbursement. Ericson indicated that the applicant (the Church) is being invoiced for the City’s legal costs in this matter. After the public hearing on April 12th, the City Council directed staff to draft a resolution of approval for the next council meeting on April 26th, and to direct staff to negotiate the financial contributions from the Church. Motion passed 4 to 1. 3. Preliminary Plat / Plan Submittal Developer Activities—Velmeir Companies (Amoco Site): Backman pointed to plans of the CVS Pharmacy taped to the wall of the Council Chamber. Loucks Associates, working with Velmeir, submitted the preliminary plat and utility plans to the City yesterday. Staff is currently reviewing them. The preliminary plat goes before the Planning Commission on May 5, 2004. Belting asked about the issue in the newspaper of the CVS projects in St. Paul having siting difficulties. Ericson responded that is issue is design standards. A local business group wants a different look for the store proposed for the Midway area in St. Paul. 4. Purchase & Redevelopment Agreement between the City of Mounds View and by Pro Craft Homes & (Woods of Mounds View / Hidden Hollow): Backman reminded the members that the name of the housing project will be Hidden Hollow instead of The Woods of Mounds View. Backman reviewed the key documents being drafted—Purchase & Redevelopment Agreement (the document that transfers the land from the EDA/City to ProCraft & reaffirms the Developers commitment to build the homes); the Developer’s Agreement (the document that details responsibilities, including the public improvements and the plat); the Petition & Waiver Agreement (the document where the developer requests that the City undertake the public improvements), the Promissory Note and the Mortgage. Backman expects that the Petition & Waiver Agreement will be signed today so that the City’s engineering activities continue to move forward. The purchase price of the City’s property is $299,000, with five payments over one year at 4.0% interest. The preliminary plat goes to the Planning Commission on April 21st.