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<br />Item No: 12B <br />Meeting Date: 8/23/04 <br />Type of Business: Staff Reports <br />Administrator Review: _____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mary Burg, Golf Course Manager <br />Item Title/Subject: Golf Course Study Update <br /> <br />Introduction: <br /> <br />This report is to provide the City Council an update of information regarding <br />the fiscal concerns at The Bridges of Mounds View Golf Course and <br />Learning Center. <br /> <br />Background: <br /> <br />The City has recognized this priority and is actively exploring solutions to the <br />problem of the Golf Course financing. <br /> <br />Analysis: <br /> <br />The City Council authorized Community Development Staff to seek title <br />search information to determine the potential for other development on the <br />golf course parcels. Staff is currently researching title restrictions on the land. <br />The title search is in process. A projection of an additional two to three <br />weeks is expected to complete the search. <br /> <br />Review of Golf Course: <br /> <br />1.) Billboard revenue: <br />Clear Channel Outdoors received state permits to proceed with the <br />billboard installation in July 2004. The City of Mounds View issued <br />permits August 13, 2004, for the installation of six billboards at The <br />Bridges. <br /> <br />Clear Channel Outdoors has yet to attain Rice Creek Watershed <br />District permit. Clear Channel anticipates permit to be processed <br />administratively shortly. <br /> <br />Upon the issuance of the watershed permit, The City will receive its <br />initial compensation within sixty days as per original lease agreement. <br />Guarding any addition unanticipated delay, the construction of the