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<br />Item #: 6A <br />Meeting Date: December 18, 2015 <br />Type of Business: EDC <br /> <br />City of Mounds View Staff Report <br /> <br /> <br /> <br />To: Economic Development Commission <br />From: Brian Beeman, Business Development Coordinator <br />Item Title/Subject: Reports of Staff <br /> <br />A. Crossroad Pointe Redevelopment Project <br /> <br />At their November 23, 2015 meeting the EDA heard comments from The Beard Group <br />and staff regarding the proposal for a three story 119 unit apartment building with <br />underground parking on the 4.25 acre Crossroad Pointe site. The Beard Group <br />originally had proposed developing the entire site. However, those plans changed when <br />considering the pre-development agreement. <br /> <br />The new proposal is to build the apartment building on only 2 acres, leaving the oblong <br />shaped triangle property along County Road 10 to the city’s discretion. The Beard <br />Group would like to use Phase II as a staging area for the Phase I development. Once <br />Phase II is complete, The Beard Group could either purchase the remaining lot <br />developing it themselves or in partnership with another developer, or they would leave <br />ownership to the city to market and develop as a commercial site . <br /> <br />The EDA Chair was hesitant in allowing only parts of the 4.25 acre site to be developed <br />stating that the site was to be considered a des tination and allowing more housing isn’t <br />a destination. The rest of the EDA expressed their support for the project noting that the <br />type of modern apartments being proposed is a different product than what Mounds <br />View can currently provide. Ultimately, the EDA approved unanimously to accept the <br />development in two phases. <br /> <br />The next step is for staff to complete the pre -development agreement for EDA approval. <br />It is expected that the developer will submit a financial incentive application at some <br />point in the process. Most likely, this would be for a redevelopment TIF to assist with the <br />underground parking portion of the project. <br /> <br />B. Business Retention & Expansion (BR&E) Visits <br /> <br />Since the November EDC meeting, BR&E visits have been completed with Skye’s <br />Salon, Midwest Medical Services, Inc. and Raymond Vandeveer Realty. <br /> <br />Skye’s Salon: The company started about a year or so ago. They have one employee <br />and like the city’s consideration to possibly implement a collective garbage service. <br />They are happy in Mounds View and plan on staying long-term. They give the city 7 of <br />10 possible points for serviceability.