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Mounds View City Council May 24, 2004 <br />Regular Meeting Page 16 <br /> <br /> 1 <br />Mayor Linke asked how much the demolition at the Perkins site cost. 2 <br /> 3 <br />Economic Development Coordinator Backman indicated that the Perkins site was twice the size 4 <br />and the cost was $25,000. 5 <br /> 6 <br />Mayor Linke speculated a $12.00 to $14.00 per square foot cost. 7 <br /> 8 <br />Council Member Gunn asked if Staff thinks the City can sell the property for a profit. 9 <br /> 10 <br />Economic Development Coordinator Backman indicated that would depend upon the use that 11 <br />Council is contemplating. He then said that it is possible if a commercial use is anticipated. He 12 <br />also commented that there is the potential to add some land to it to make it a larger site for 13 <br />redevelopment. 14 <br /> 15 <br />Council Member Gunn said she would feel more comfortable if the City stressed that this was 16 <br />being done for redevelopment and not for realignment or for City property because she does not 17 <br />think that the City can afford to do that. 18 <br /> 19 <br />Community Development Director Ericson indicated that the Resolution could stipulate the 20 <br />intended use for the property. 21 <br /> 22 <br />Council Member Stigney commented that there is a property on the tax base contributing taxes 23 <br />and he thinks the City should leave it there and let the market value of private purchasers and 24 <br />developers dictate what is done with the site. He then said that, unless there is a definite plan for 25 <br />something that is marketable to recover the money or improve the site that does not involve a fast 26 <br />food restaurant, he is not interested in purchasing the property. 27 <br /> 28 <br />Economic Development Coordinator Backman suggested that if the City lets the market dictate 29 <br />what happens the City will end up with another gas station in that location. He then said that he 30 <br />feels confident that Staff can work with a developer to bring improvements to the location and 31 <br />generate more than $20,000 worth of taxes per year. 32 <br /> 33 <br />Council Member Quick asked if the City could take the building down, realign the road and still 34 <br />have enough left of the site for a building site. 35 <br /> 36 <br />Mayor Linke commented that there is sewer, water and a gas line running through there. 37 <br /> 38 <br />Director Ericson noted the purchase agreement would be contingent upon Council approval. 39 <br /> 40 <br />Mayor Linke read part of Resolution 6264. 41 <br /> 42 <br />MOTION/SECOND: Gunn/Quick. To Waive the Reading and Approve Resolution 6264, a 43 <br />Resolution Authorizing Staff to Enter into a Purchase Agreement to Acquire the Commercial 44 <br />Property at 2525 County Road 10 in Mounds View. 45