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<br />Item #: 6A <br />Meeting Date: May 20, 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 determined that The Beard Group and City wish to move forward with the project, a <br />formal development agreement will be completed. The Beard Group recently was <br />awarded an $85,000 grant from Ramsey County for the Mounds View housing project. <br />The market study came back very strong and as a result, they are doubling the size of <br />the project from 119 units to 205 units with 251 bedrooms. They plan to seek a Housing <br />TIF and Tax Credits, in addition to their primary lender financing. They are stil l hoping to <br />break ground this August and open in the spring of 2017. <br /> <br />B. Business Retention & Expansion (BR&E) Visits <br /> <br />Nearly all businesses in Mounds View have been visited. The few remaining businesses <br />have not returned phone calls or emails. Some have said they wish not to participate. <br />The Business Development Coordinator will continue to attempt to schedule more visits . <br />In April, the Business Development Coordinator contacted around 90 businesses to get <br />their opinion on changing the name of County Road 10 to Mounds View Boulevard. The <br />businesses contacted overwhelmingly were in favor of the change. (Please see Section <br />G for more information on the County Rd 10 renaming project) <br />Dunkin Doughnuts: The company was looking at the endcap where Tom’s Collectibles <br />is currently located next to the movie theater. It was an ideal spot for them and they had <br />talked about removing the trees along County Rd 10 for more visibility. However, <br />Subway has a non-compete clause and they felt that Dunkin Doughnut’s croissants and <br />breakfast sandwiches would be competing with their business. Therefore, Dunkin <br />Doughnuts is looking elsewhere. Staff is looking for other options to try and keep them <br />in Mounds View. <br />Retail Development: A broker called last month who is working with a nondisclosed <br />developer at the possibility of purchasing the five parcels along County Rd 10 and <br />Woodale Drive which is located on the southeast side of the Bel Rae Senior Living