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<br />Item #: 6A <br />Meeting Date: February 19, 2016 <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 />On January 25, 2016 the EDA approved the predevelopment agreement between The <br />Beard Group and the City of Mounds View. The purpose of the predevelopment <br />agreement is to allow for a period of time to complete the due diligence on the site. If it <br />is determines that The Beard Group and City wish to move forward with the project, a <br />formal development agreement will be completed. The Beard Group is hoping to break <br />ground this August and open in the spring of 2017. <br /> <br />B. Business Retention & Expansion (BR&E) Visits <br /> <br />Since the January EDC meeting, BR&E visits have been completed with Fedor’s <br />Market, a neighborhood grocery store. <br /> <br />Fedor’s Market: Fedor’s Market has been in business for 55 years. The building was at <br />one time the City Hall and Police Department. They claim it was the first building in <br />Mounds View and Fedor’s Market has withstood the ups and downs of the market until <br />now. The business is owned by brothers Paul and Gordy Fedor. Gordy said he was <br />hear when the Army development was being constructed and he has been around long <br />enough to see it torn down. The owners have experienced great competition from Wal- <br />Mart, Aldi’s, and others. As a result, they have decided to close their grocery store as of <br />the last week of January 2016 and they will keep the meat market portion of the <br />business open. They only need about 1,000-1,200 SF of the existing building and they <br />are open to leasing out the remaining space or finding a buyer then doing a lease back <br />so that they can keep their meat business. They will be doing some minor exterior <br />improvements this spring and they are interested in knowing if the city has any <br />redevelopment plans or knows of someone tha t may want to purchase the business <br />and/or building. They mentioned that at one time the gas station wanted to expand . The <br />two brothers are full of stories and very knowledgeable in the history of Mounds View. <br />Rice Creek Commons (TCAAP) Development Update <br />Construction on the TCAAP site and County Road 10 & H is expected to start this <br />spring with final completion early 2017.