Agenda Packets - 2005/09/26 - Laserfiche WebLink

Home Browse Search

Mounds View City Council August 22, 2005 Regular Meeting Page 6 a developer would install improvements and not be paid interest. He stated that a 5% interest 1 rate is probably 250 basis points lower than the current average lending rate. Most are at 650-2 675 so 5% is a lower interest rate by market standard. He stated he can provide many examples, 3 if requested by the Council, but does not have them with him this evening. 4 5 Ms. Haake stated Medtronic has agreed to pay $9.65 million for the Bridges and asked why $1 6 million of the purchase cost is relabeled as reimbursement by Medtronic, in place of sale price, 7 which in effect lowers the park dedication fee by $100,000. It also places $150,000 back on 8 trails that they get to use. 9 10 Mayor Marty stated he also has that question. 11 12 City Administrator Ulrich explained the $865,000 is based on what Medtronic is paying the City 13 of Mounds View for the property. Part of the negotiations is that a portion of the park dedication 14 ($150,000) would be used to improve the adjacent land for public use that would also be 15 available to SYSCO and Medtronic employees as well as the public. 16 17 Ms. Haake stated the legislation indicated that the $1 million was to be paid in the revertor clause 18 and paid for by the City of Mounds View. She asked if Medtronic is paying $9.6 million, then 19 why is the City not getting another $100,000 from them. 20 21 Dan Hall, 2200 Highway 10, stated he was one of the first people who wants to keep things civil 22 because all are interested in what is best for the citizens of Mounds View. He stated he would 23 not like to be told over the last two months that he was not looking out for what is best for 24 Mounds View and was being duped and taken advantage of by Medtronic. Mr. Hall noted this 25 type of comment is coming from the “nice side” but he does not see the same tactics being used 26 by the proponents who want to sell the golf course to someone to make it profitable. He stated it 27 is his belief that Mr. McCarty, Ms. Haake, and Mr. Amundsen want to stall it long enough so 28 Medtronic will go to another city. He stated it is evident to him that they are “grasping at 29 straws.” He stated when you accuse people of dealing under the table and taking bribes, how can 30 you expect a civil conversation and work going back and forth. He stated he agrees with the 31 majority of the Council that due diligence has been done and the Council has done a good job. 32 33 Cindy Sobasik, 2146 Hillview Road, stated she believes that moving forward puts the residents 34 of Mounds View at risk for unwarranted and unwelcomed liability and it astounds her to think 35 that residents could be priced out of their homes. She stated that Bethlehem Baptist Church 36 made a $25,000 donation in place of tax money generated since it is in a TIF district. SYSCO, 37 who provides more jobs to residents, took a small TIF and it will be repaid in two years, which to 38 her seems reasonable. However, she is concerned with subsidizing a multi-million dollar 39 company that can afford to pay taxes and should be demonstrating good corporate citizenship, 40 which includes paying its fair share. Ms. Sobasik asked for a fair deal or no deal. She asked the 41 Council if they saw, read, and understood the contract related to redeveloping the golf course into 42 a Medtronic facility prior to voting on it. 43 44