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approved or reject it. President Coughlin restated that the EDA is currently holding a signed <br /> document from the developer with the hope this group would enter into an agreement. He noted <br /> it also has a park dedication attached. He asked the EDA's pleasure. <br /> Vice President Stigney stated the agreement before the EDA was signed but, if not signed, could <br /> be renegotiated. President Coughlin stated it could be renegotiated and asked for a motion to <br /> accept or reject the agreement in its current form. <br /> MOTION/SECOND: Stigney/Marty to reject the signed agreement between the Mounds View <br /> Economic Development Authority and The Everest Group or Michael Investments. <br /> Tim Nelson, representing Michaels Investments, stated he is unsure where this action is going <br /> but noted they did submit the signed development agreement approved last fall with the <br /> condition the park dedication fee be paid and the EDA was authorized to enter in to that <br /> agreement. He suggested that despite the first action taken,there is a binding EDA agreement <br /> subject to payment of the park dedication fee. <br /> Mr. Nelson stated they would like the flexibility to develop the building and felt it was a clear <br /> indication when the site plan was approved. He stated it is shocking to him that these <br /> housekeeping changes, which are consistent with the site plan approval, cannot be approved on <br /> their own merits. Mr. Nelson stated this has been a long process, over several years, and they <br /> would like some closure. He stated he hopes the EDA has conferred with their legal counsel <br /> about possible actions since they consider they have a binding agreement subject to payment of <br /> the park dedication fee. <br /> Mr. Nelson asked the EDA to reconsider their first action and approve the housekeeping changes <br /> so they have the flexibility to develop what they feel is a higher quality building, will be taxed <br /> higher, result in more employment, and bring to a conclusion their involvement in the Mounds <br /> View Business Park. He offered to answer questions. <br /> President Coughlin noted that Mr. Nelson's colleague is also present. President Coughlin stated <br /> several weeks ago he, the Community Development Director, and the Assistant to the City <br /> Administrator met with Mr. Nelson and his colleagues who presented a variety of arguments. At <br /> that time, those documents were presented and are now being considered. President Coughlin <br /> explained that at that time he talked with Mr. Nelson, they came to a conclusion, and shook <br /> hands that Mr.Nelson would present those documents to this entire body, not just to him or staff. <br /> A week later the documents arrived by courier, and he was very displeased. <br /> In light of that, President Coughlin stated that he has a problem with what Mr. Nelson is now <br /> saying since, if his word is his bond,they shook hands on that agreement, and had an <br /> understanding, so it is easy to make the "jump"that Mr. Nelson cannot now be fully trusted <br /> regarding what he is saying for fear he is just"talking through his hat." <br /> 3 U:\CARIS\COUNCIL\MINUTES\MVEDA12.APR <br />