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Item No. <br /> Staff Report No. <br /> Meeting Date: 1/19/99 <br /> Type of Business: WK <br /> WK.• Work Session;PH:Public Hearing; <br /> CA: Consent Agenda;CB:Council Business <br /> City of Mounds View Staff Report <br /> To: Mayor and City Council Members <br /> From: Rick Jopke, Community Development Director <br /> Item Title/Subject: Remnant City-owned Parcel. <br /> Date of Report: January 14, 1999 <br /> Background: <br /> When Edgewood Drive is relocated in the spring of 1999, a 1 1/2 acre remnant site will be created <br /> which could be developed. Also in the area is the Midland Videen property. It is located south of <br /> the Community Center property and east of Edgewood Drive. The property is approximately 9.4 <br /> acres in size. A wetland occupies a major portion of the property. There is approximately 1 1/2 <br /> acres at the southwest corner of the site that is developable. Because the two sites would be <br /> contiguous it makes sense to market them together to get the best development. The Midland <br /> Videen site also could offer an opportunity to solve some regional storm sewer problems in the <br /> area. <br /> In June of 1998 the City Council authorized staff(Resolution-5246)to enter into an option <br /> agreement to purchase the Midland Videen property and to send out a Request for Proposals <br /> (RFP)to seek unified well planned development on the parcels. An option agreement was drafted <br /> and given to a representative of the Midland Videen property owner. The option agreement has <br /> never been agreed to or signed by either the owner of the Midland Videen property or the City. <br /> Initially the City was waiting for final agreements on the theater property to insure that <br /> Edgewood Drive would be realigned and the remnant parcel created. The owner of the Midland <br /> Videen property has also been negotiating with other interested parties. <br /> City staff has drafted an RFP but has not sent it out because we do not control the Midland <br /> Videen property, the final plans for the realignment of Edgewood Drive have not been <br /> completed, and the exact size and configuration of the remnant parcel has not been determined. <br /> The City received the attached Offer to Purchase the remnant parcel from TOLD Development <br /> Co. for$350,000. TOLD has a signed letter of intent to purchase the Midland Videen property. <br /> TOLD has indicated that they would like to develop a Walgreen's store and possibly a restaurant <br /> on the site. Anthony Properties has also expressed an interest in the property and submitted the <br /> attached letter to the City. They would develop an office building on the site. <br /> The City Council in October continued consideration of TOLD's offer indefinitely. There was <br /> concern expressed that it was premature to act until the Planning Commission could review the <br /> matter further to determine what the appropriate use of the property should be. The need to have <br />