Laserfiche WebLink
City of Mounds View Staff Report <br /> October 2, 1997 <br /> Page 2 <br /> out how to legally tie this to the land but may be able to tie it to the deed or other legal document. <br /> Review of this item was on the EDC agenda in September. Since there was not a quorum, the <br /> members present were just given an overview of the proposal. The members that were present <br /> felt that from an economic standpoint the City would gain with an above market purchase price <br /> and the ability to collect commercial taxes on the parcel. <br /> I did a quick calculation of the increase in the tax base on a$2 million project deducting the <br /> taxes currently paid by the four single family homes. <br /> Current total taxes paid: $5,023 <br /> Taxes on$2 million commercial building: $123,250 <br /> Total Net gain: $118,227 <br /> Mr. Robert Cunningham of Told Development will be at the work session to present the proposal <br /> and give an update on the preliminary schematic plans for the site. <br /> • <br /> • <br />