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Item No. <br /> Meeting Date: 3/8/99 <br /> Staff Report No. <br /> Type of Business: EDAB <br /> WK: Work Session;PH:Public Hearing; <br /> CA:Consent Agenda;EDAB:EDA Business <br /> Mounds View City Economic Development Authority <br /> Staff Re ort <br /> To: Mounds View Economic Development Authority <br /> From: Rick Jopke, Community Development Director <br /> Item Title/Subject: Consideration of Resolution 99-EDA108, a Resolution <br /> Approving and Authorizing Execution of an Amended <br /> Development Assistance Agreement with Michael <br /> Investments (Everest Group) Regarding the Building N <br /> Project. <br /> Date of Report: March 4, 1999 <br /> SUMMARY <br /> The EDA has approved an original development agreement with conditions and subsequently some <br /> amendments to the agreement as requested by the Everest Group in order to facilitate the development <br /> of a vacant site in the Mounds View Business Park. The EDA has also denied other requested <br /> amendments. The EDA in September of 1998 approved the most recent version of the agreement which <br /> changed the development entity, slightly reduced the size of the building, and allowed the developer <br /> more flexibility to do a build-to-suit deal (Resolution 98-EDA97). To date the development assistance <br /> agreement has not been signed. <br /> In December of 1998,the City Council approved an alternate site plan to give the developer the <br /> flexibility to do either the originally proposed manufacturing/warehouse/office building or a <br /> office/flex/service building. <br /> The developer is now requesting that the development assistance agreement be amended to reflect the <br /> site plan changes approved by the City Council. <br /> The requested changes are housekeeping in nature. The proposed changes include: <br /> 1. A change in the date of the agreement. <br /> 2. A revision of the definition of the term"Improvements"to reflect the alternate site plan <br /> approved by the City Council in December of 1998. <br /> 3. A change to indicate that the development entity is a a general partnership and not a <br /> corporation. <br /> 4. A change to indicate that Jeffrey L.Neilsen is the General Partner and not President of <br /> Michael Investments. <br /> Jim O'Meara from Briggs and Morgan,who drafted the original agreement on behalf of the EDA,has <br />