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Item No: 11B1 <br />Meeting Date: July 27, 2009 <br />Type of Business: Reports of Staff <br />Administrator Review: _____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Desaree Crane, Assistant City Clerk-Administrator <br /> <br />Item Title/Subject: Update on The Mermaid <br /> <br />Date of Report: July 27, 2009 <br /> <br /> <br />Staff has confirmed that The Mermaid closing on the sale of the hotel happened on July <br />22, 2009. Staff has not confirmed when the proceeds of the sale will be distributed by <br />the title company. The City will be receiving reimbursement for the following: <br /> <br />• Legal fees, review of planning case <br />• Legal fees, review and preparation of various agreements <br />• Delinquent Utility Fees for Mermaid (hotel account was current) <br />• Delinquent Ramsey County Property Taxes <br /> <br />Resolution 7461 approved an extension on The Mermaid’s On-Sale Intoxicating Liquor <br />license, contingent upon full payment on their delinquent utility bill (deadline was July <br />10, 2009). Utility payment has not yet been received due to the multiple closing delays. <br />Staff will continue to monitor the situation, and will provide a more detailed report prior <br />to the start of this City Council Meeting. <br /> <br />Respectfully submitted, <br />Desaree Crane <br /> <br />