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• Staff Memo <br /> To: Economic Development Commission Members <br /> From: Cathy Bennett, Economic Development Coordinator <br /> Date: June 16, 1995 <br /> Agenda Item: Consideration of Partnership with Anoka Chamber for <br /> (5.b.) Hotel Development <br /> f <br /> In May, I was invited to attend the Anoka County Chamber of Commerce Hotel Task <br /> Force meeting. They had heard that there was an excellent site in Mounds View being <br /> considered for a hotel\conference center. The Anoka Chamber membership, made up <br /> of over 600 businesses, feels strongly about attracting a quality hotel\conference <br /> facility in the North Metro region. Therefore, they established a Hotel Task Force. The <br /> Task Force was working to find an appropriate site in Blaine but the plan fell through <br /> and now they are willing to support Mounds View's proposal. <br /> 40 <br /> At a second meeting, the task force invited Charlie Hall to give a presentation <br /> regarding his plans. Needless to say, the Task Force was thoroughly impressed and <br /> are willing to assist in any way possible. Charlie's plans now have expanded to a 200 <br /> room, 10 floor facility with the banquet facilities on the top floor. He is working with <br /> someone who is gathering investors for the project. Apparently, they want to <br /> syndicate the hotel by selling shares in the development. <br /> The Anoka Chamber is willing to help fund a market feasibility study needed to attract <br /> investors. It is proposed that the Anoka Chamber, Mounds View and Charlie Hall pay <br /> for the study. At this point we do not know the cost of the plan but anticipate <br /> $6,000-$10,000. <br /> Do you feel that the EDA should participate in the funding of the study? Funds could <br /> come out of Highway 10 Redevelopment earmarked for 1995 under the Proposed TIF <br /> Distribution Plan. <br />