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Mounds View EDA UNA PROVED <br /> September 14, 198 <br /> Page 2 <br /> some amendments to the agreement as requested by the Everest Group in order to facilitate the <br /> development of a vacant site in the Mounds View Business Park. The EDA has also denied other <br /> requested amendments. <br /> The Everest Group has requested additional changes to the development agreement to change the <br /> development entity, slightly reduce the size of the building(by 6,000 square feet), and to allow <br /> them flexibility to do a build-to-suit deal where Everest would build the building but <br /> immediately sell it to a new owner who would occupy the building. In that situation Everest is <br /> requesting that they be release from their obligations under the development agreement and that <br /> the obligations be transferred to the new owner. <br /> Jim O'Meara from Briggs and Morgan, who drafted the original agreement on behalf of the EDA, <br /> has reviewed the proposed changes and indicated that there are no legal issues with the proposed <br /> changes. <br /> Staff was recommending approval of EDA Resolution No. 98-EDA-97. <br /> Mayor McCarty returned the floor to the Commission. 111 <br /> MOTION/SECOND: Koopmeiners/Gunn to approve EDA Resolution No. 98-EDA-97 <br /> Approving the Proposed changes to the development agreement pertaining to the Building N site <br /> within the Mounds View Business Park. <br /> VOTE: Ayes -4 Nays - 0 Motion carried <br /> B. Consideration of EDA Resolution No. 98-EDA-98 Authorizing the preparation of a <br /> Phase I Environmental Site Assessment (ESA) OR Phase I and II ESAs of the <br /> RentAll property,for the various reasons specified in the proposed Resolution. <br /> Director Carroll gave his report as follows: <br /> On August 24, 1998 the City council adopted Resolution No. 5260, which authorized staff and <br /> consultants to proceed with various actions including (but no limited to)the negotiation of an <br /> option/purchase agreement for the RentAll property located at the corner of Highway 10 and <br /> County Road H. Information about the actual or potential presence of contaminants or other <br /> environmental problems on the RentAll property would be very useful in connection with the <br /> negotiation of an option/purchase agreement for the property. <br /> Resolution No. 526- also authorized city staff and consultants to proceed with the development • <br /> of an application to DTED for a redevelopment grant that could potentially be applied to the <br />