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Item No. Meeting Date: 1-04-99 Staff Report No. Type of Business:MIK WK:Work Session;PH:Public Hewing; CA:Consent Agenda;EDAB:EDA Business Mounds View City Counoil Work Session Staff Report To: Mounds View City Council From: Kevin Carroll, Economic Development Coordinator Item Title/Subject: Mermaid Hotel/Banquet Center(Progress Report) Date of Report: December 31, 1998 SUMMARY At the meeting on January 4, 1999, I intend to give you another verbal report on the status of the Mermaid project. Staff members and representatives of the Developers will once again be available to answer any questions that you may have. As previously indicated, your thoughts, suggestions and guidance with respect to the future handling of this matter will be gladly received and greatly appreciated. I anticipate that my presentation on Monday will touch on the following subject areas: 1. Background: I will briefly summarize the history of the project to date, for the benefit of audience members, viewers at home, and the newly-elected Council members. 2. DTED Redevelopment Grant: Although we finished 10th out of 26 applicants for the first "round" of the 1998-1999 funding cycle, and therefore did not receive a grant, we could submit an updated version of our original application in the second round, which has a 4-1-99 application deadline. Whether or not the project can be put"on hold"until that time is uncertain. 3. Metro Transit Park& Ride Facility: As you will recall, in the early stages of this project Metro Transit expressed an interest in possibly siting a new Park&Ride lot somewhere within the Mermaid redevelopment project. However, as Metro Transit staff members began to examine their options more closely, it appeared that their interest in the Mermaid site began to wane. That fact was confirmed during a telephone conversation with Aaron Isaacs of Metro Transit on December 31, 1998. He essentially confirmed the fact that the Mermaid location is no longer under consideration, for three reasons: a. MnDOT, Metro Transit, Anoka County and the City of Blaine are apparently working together to make significant improvements to the 35W/95th Avenue exchange, and those plans include a new Park&Ride facility at that location. Metro Transit apparently believes that commuters heading south on 35W in the morning will want to "bail out" and get on a bus before they encounter the traffic congestion that often occurs in the morning along the Mounds View/New Brighton portion of 35W. b. Metro Transit has already made arrangements for the use of a portion of the Arsenal property in the event that additional Park&Ride spaces are needed south of the