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<br />Meeting Date: Feb. 6, 2012 <br />Type of Business: Executive Session <br />Administrator Review: ____ <br />City of Mounds View Staff Report <br /> <br /> <br /> <br />To: Honorable Mayor and City Council <br />From: Heidi Steinmetz, Economic Development Specialist <br />Item Title/Subject: Determine Purchase Offer Amount for “PAK” Building <br /> <br /> <br /> <br />Background <br /> <br />On December 16, 2011, the EDC recommended that the EDA purchase the “PAK” building <br />located at 2832 County Road 10 in Mounds View for the purpose of future redevelopment. <br />On January 3, 2012, the City Council discussed the potential purchase of the building. On <br />January 9, 2012, the EDA scheduled a closed meeting for February 6, 2012, to determine a <br />price that the EDA would offer to purchase the property for redevelopment purposes. The <br />property consists of two Property Identification Numbers (PINs) as shown below. <br /> <br /> <br /> <br />Ramsey County’s estimated market value of PIN 06.30.23.34.0089 for 2012 is $427,500 <br />(Structure = $183,600 / Land = $243,900). Ramsey County’s estimated market value for <br />PIN 06.30.23.34.0086 for 2012 is $118,500. <br /> <br />Property taxes for PIN 06.30.23.34.0089 in 2011 were $15,792. Property taxes for PIN <br />06.30.23.34.0086 in 2011 were $4,514. <br /> <br /> <br />PIN 06.30.23.34.0089 PIN 06.30.23.34.0086