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PROCEEDINGS OF THE MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY • Meeting No.33 March 10, 1997 Mounds View City Hall 2401 Hwy. 10,Mounds View MN 55112 *********************************************************************************** CALL TO ORDER The Economic Development Authority was called to order by President McCarty on March 10, 1997 at 9:31 p.m. ROLL CALL MEMBERS PRESENT: Duane McCarty,Julie Trude,Gary Quick,Roger Stigney,Roger Koopmeiners, Director of Economic Development Cathy Bennett,Clerk Administrator Chuck Whiting and City Attorney Steve Bubul. OTHERS PRESENT: None APPROVAL OF AGENDA: MOTION/SECOND: Koopmeiners/Stigney to Approve the Agenda as presented. VOTE: 5 ayes 0 nays Motion Carried • APPROVAL OF MINUTES: MOTION/SECOND: Koopmeiners/Quick to Approve the Minutes of the Economic Development Authority meeting on February 10, 1997. VOTE: 5 ayes 0 nays Motion Carried CONSENT AGENDA: There were no items on the Consent Agenda. PUBLIC HEARINGS: There were no Public Hearings scheduled for this meeting. EDA BUSINESS: A. Consideration of Resolution No.97-EDA62,Authorizing Staff to pursue negotiation of purchase agreement with MSP Real Estate. Ms.Bennett explained that the developer of the senior housing complex on County Road I approached the city in regard to purchasing the EDA owned lot on the corner of Eastwood and Highway 10. They are interested in redevelopment of the former Pleasant Wood Apartments and developing new townhomes on the vacant land east of Pleasant Wood Apartments. Ms.Bennett noted that she and Pam Sheldon had met with JeffHuggett and Milo Pinkerton of MSP to discuss the project. They would be applying for MHFA funding to do a major renovation to the interior and exterior apartments and construct new townhomes as one coordinated development. As a part of the application process,they need to obtain documentation of the city's interest in