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Item No. 5E <br />Staff Report No. <br />Meeting Date: April 27`h, 2000 <br />Type of Business: IN <br />EB: EDC Business <br />IN: Informational Item <br />SB: Special Business <br />City of Mounds View Staff <br />To: Economic Development Commission <br />From: Aaron Parrish, Economic Development Coordinator <br />Item Title/Subject: Project Updates <br />Date of Report: April 19, 2000 <br />Background: <br />Mermaid Hotel and Banquet Center <br />There have been some recent developments pertaining to the Mermaid Hotel and Banquet Center <br />project. Based on information provided by the Hall's Attorney, arrangements have been made to <br />incorporate two adjacent properties into the development. First, the relatively small, but key parcel <br />south of the business park has been acquired. As a component of that acquisition, the access to the <br />business park will be moved to the west, toward the existing Pettibone site. Second, the Hall's have <br />an option on the property to the Northwest, or the existing Perkins site. While there has been no <br />definitive report, it appears as if Perkins will be closing sometime later this year. <br />At this point, an appl'ucation for TIF assistance has been requested. In addition, we anticipate <br />receiving approval this month regarding a Final Site Drainage Plan for a regional storm water pond. <br />Our permit application will be considered by the Rice Creek Watershed District Board of Managers at <br />their April 26th meetin ji. <br />The storm water pond would be located on property owned by the school district and Metropolitan <br />Council Environmental Services. Based on preliminary discussions with the aforementioned groups, <br />constructing a pond at this location appears to be a viable option. Additional information will be <br />provided as it becomes available. <br />TOLD Development -Walgreens <br />We anticipate receiving plans for a Walgreens at the intersection of Highway 10 and Edgewood <br />Drive in the near future. Depending on the approval process and the transfer of land between the <br />city and developer, the project could begin as soon as this year. The potential also exists for a <br />"Culver's" restaurant to be incorporated into the development. Photocopies of a Culver's menu and <br />pictures have been included for your review. <br />Necessary Actions: <br />No action is required. <br />Aaron Parrish, Economic Development Coordinator <br />(763)717-4029 <br />N:\DATA\OROUPS\ECONDEV\EDC\Staff Reports\Staff00\04-5E.doc <br />