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Draft EDC Minutes <br />November 20, 2015 <br />Page 6 of 8 <br /> <br />Mounds View Project Updates <br /> <br />Beeman provided an update on the Bio Life ribbon cutting ceremony. Several people <br />were in attendance including representatives from the Baxter group who is the parent <br />company to the Biolife centers, County Commissioners, and City Council Members and <br />city staff as well as several business owners. <br /> <br />Coordinator Beeman updated the Commission on the new Bel Rae Senior Living facility <br />stating that they are now 50% filled and taking on new reservations each week. Chair <br />Helemoe asked if they had projected specific occupancy by a certain timeline. Beeman <br />said they purposefully did everything in phases so that they could take on a few <br />residents and hire staff gradually eventually ramping up to full occupancy. They seem to <br />be doing well and are even talking about a phase II in another city. <br /> <br />Apple Tree Dental is still planning to build their second floor buildout in the spring. The <br />library is planning to construct their trail extending from the city’s existing trail to the <br />library building. In exchange for the library allowing Apple Tree Dental staff to park in <br />their parking lot, Apple Tree Dental would be required to maintain the trail. <br /> <br />Pat’s Muffler Shop went out of business but they are now occupied by an auto repair <br />shop that fixed the broken windows and painted the exterior of the building and cleaned <br />up the rear of the building. They are doing well and currently looking to install a new <br />sign. <br /> <br />Snap Market is out of business. The Indian Wedding shop next door is interested in <br />leasing the space for warehousing but don’t want to pay the retail fees. <br /> <br />HB Systems is a new computer security and support company specializing in medical <br />and law type businesses. They are located in the center of the Midwest -Medical building <br />next to Medtronic. <br /> <br />Louisiana PoBoy is also out of business. They struggled since opening. There has been <br />a request for a Pub type business and if a liquor license could be granted for this site. A <br />real estate broker specializing in restaurants has listed the site. Chair Helgemoe asked if <br />an Applebee’s or similar business could go into that space considering zoning & liquor <br />licenses. Commissioner Stevenson said the parking in general is not big enough to <br />support that type of business with a sit-down restaurant. Beeman has asked the broker <br />to determine if a Chick-Fil-A or Wendy’s would work. They are looking into it. <br /> <br />Snyder Building <br /> <br />Beeman updated the Commission on the Snyder building. The owner is from Canada <br />and built the building during the construction peak, then when the “Great Recession” hit, <br />Snyder’s handed over the keys and didn’t honor their lease, leaving the owner stuck <br />paying the mortgage. The owner is accepting reasonable offers above $1 mill and below <br />$2 mill. The original asking price was $2.5 mill. The owner is an accomplished investor, <br />owning some strip malls and three other pharmacies in Canada. He is open to any <br />creative financing for a tenant or buyer and would like to see something happen but he is <br />not willing to give it away either.