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Mounds View EDA February 26, 2018 <br />Regular Meeting Page 3 <br /> <br />He reported once the option agreement was signed and in place, the developer would be locked <br />in to purchase the property. Staff provided further comment on the agreement and recommended <br />approval. <br /> <br />MOTION/SECOND: Gunn/Meehlhause. To Waive the Reading and Adopt Resolution 18- <br />EDA-307, Approving Real Estate Option Agreement for Boulevard Apartments. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />B. Resolution 18-EDA-306 Conditionally Authorizing Acquisition of Tax- <br />Forfeited Land at a Discount for the Development of Multi-Family <br />Affordable Housing. <br /> <br />Business Development Coordinator Beeman requested the Council adopt a Resolution <br />conditionally authorizing acquisition of tax-forfeited land at a discount for the development of <br />multi-family affordable housing. He reported the County was requiring the City to pass this <br />Resolution due to the fact that two of the properties were tax-forfeited. He discussed the fees the <br />developer would have to pay for the land noting discounts were in place. <br /> <br />City Attorney Riggs reviewed the redlined changes to the Resolution and noted this item would <br />not require Council approval. He commented on the development schedule for the project and <br />recommended approval. <br /> <br />Commissioner Meehlhause reported the City would not be paying for the tax forfeited land but <br />rather would be paid for by the developer. He asked if MWF would maintain ownership of the <br />tax-forfeited land if the development did not happen. City Attorney Riggs advised this was <br />covered in the option agreement and reported if the project were to fall through the land would <br />return to the EDA. <br /> <br />President Mueller questioned if the two tax forfeited properties were currently paying property <br />taxes. Business Development Coordinator Beeman reported both properties had been foreclosed <br />and were not paying taxes. <br /> <br />President Mueller commented one of the parcels was landlocked and the other was accessible to <br />Mounds View Boulevard. She asked how big the parcel was that had access to Mounds View <br />Boulevard. Business Development Coordinator Beeman stated he was uncertain as to the exact <br />size but noted the four parcels within this development were being combined in order to allow <br />for a proper sized development. <br /> <br />MOTION/SECOND: Gunn/Meehlhause. To Waive the Reading and Adopt Resolution 18- <br />EDA-306, Conditionally Authorizing Acquisition of Tax-Forfeited Land at a Discount for the <br />Development of Multi-Family Affordable Housing.