Laserfiche WebLink
1/3/12 − Work Session <br />Item 2 – PAK Building <br />Page 2 of 4 <br /> <br /> <br /> “PAK” Building Aerial Photo (2832 County Road 10, Mounds View) <br /> <br /> <br />Discussion <br /> <br />The property is currently in “court appointed receivership”. Per court order, the process of <br />selling the property was recently authorized. On November 21, 2011, the listing agent for <br />the property told City staff that the asking price is $316,800. This is $110,700 less than <br />Ramsey County’s 2012 estimated market value of $427,500. Attached is the marketing <br />brochure for the property. <br /> <br />Due to the reasonable asking price and the fact that the EDA owns a single-family lot <br />adjacent to the property, staff is recommending that the EDA consider making an offer to <br />purchase the property and demolish the building for redevelopment purposes. The <br />redevelopment of the site would remove a blighting influence on the community and <br />eventually maximize future property taxes on the site. <br /> <br />The property is part of an area that has been slated for redevelopment since at least 2002 <br />with the completion of the latest County Road 10 Redevelopment and Revitalization Plan. <br />As shown on the image on the next page, the redevelopment area includes three parcels <br />(2832 County Rd 10, 2840 County Rd 10 and 7861 Groveland Rd). The 2840 County Rd <br />10 parcel is not for sale at this time. <br /> <br /> <br /> <br />2832 <br />County Rd 10 <br />CVS