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Item No: 3 <br />013 <br />MOT TA S Vim <br />Type <br />Meeting Date: June 3, cion <br />VIVJJJ �/1L�V T e of Business: Work Session <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: James Ericson, City Administrator <br />Item Title/Subject: Next Steps Associated with the Acquisition of 2400 County <br />Road H2 <br />Introduction: <br />The Mounds View Economic Development Authority (EDA) authorized the acquisition of <br />the property located at 2400 County Road H2 at its meeting on May 13, 2013. <br />Subsequently, title work was initiated by Kennedy & Graven and is proceeding. <br />Discussion: <br />Staff has already begun the process to seek demolition quotes, which would likely <br />exceed $30,000 plus any hazardous material assessment and removals. A quote <br />alternate would be to remove the building AND the parking lot and restore the site to a <br />level, green condition. <br />We anticipate the closing to occur before the end of June so as to file the necessary tax <br />exempt paperwork. Should the closing or filing occur subsequent to June 30t", the City <br />would have to pay the property taxes, which in 2013 amounted to about $24,000. <br />A preliminary due -diligence walk-through of the building is scheduled to occur prior to <br />the Council meeting. <br />As for the future re -use of the site, the ultimate redevelopment scenario would include <br />the Premium Stop and Taiko sites and involve closing Greenfield Avenue. While there <br />are site plans illustrating potential redevelopment scenarios from previous planning <br />efforts, it may be premature to revisit those until we have a better understanding of the <br />status of the Taiko parcel. <br />Recommendation: <br />Discuss potential activities that would occur after closing on the property occurs and <br />provide direction to staff. <br />Respectfully submitted, <br />J&XVJ-A <br />James Ericson <br />City Administrator <br />