Agenda Packets - 2004/08/23 - Laserfiche WebLink

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billboards may be complete by the mid October. The required embellishments will be subsequent to the initial installation of the signs. This is due to the uniqueness and the significant planning that is required for these “ad-ons.” The initial installation of the signs will be finished sufficiently so that revenue could begin without any additional delay. The City of Mounds View will begin to receive compensation through the billboard revenue for the last months of 2004 and subsequent years. The completion of the embellishments to the signs will be influenced by the seasonal suitability for their construction. The weather may force the embellishments into spring of 2005. 2.) Cell phone towers: There is interest in the golf course location. There is not additional progress toward cellular towers thus far. 3.) Restructure Course financing (e.g., write-down or write-off internal debt plus refinancing): The feasibility of the restructuring of the debt could be prepared soon given the billboard issue is nearing fruition. Level 2 – Redevelop property and/or reorganize golf operations 1.) Community Development Staff is in pursuant of this aspect with the possibility of corporate development at the golf course location. 2.) Move Holes #2, 3, 4, 5 to wetland area (Sysco) to the west and develop the east end of the golf course property: This option would be dependent on the title information and other development opportunity. 3.) Develop wetland credits for western (Sysco) property or other Course areas: Wetland credits could be a residual benefit from any development of the area. Wetland credit revenue would increase the feasibility of option 2.2. 4.) Negotiate with Sysco to develop portions of donated land: No action has been taken toward this scenario. Level 3 – Cease Operations This option is being pursued by Community Development Department with regard to prior alternatives.