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EDC Minutes December 15, 2017 Page 2 of 4 `Motion Carried: 6 Ayes, 0 Nays 6. REPORTS OF STAFF Crossroad Pointe Redevelopment Project Coordinator, Beeman provided the Commission with an update on the Crossroad Pointe redevelopment site stating that the City Council met in a December 4, 2017 work session to discuss the predevelopment agreement with INH Properties. A predevelopment agreement essentially gives the developer legal access to the site to conduct their due diligence for period of one year with the goal of coming to a consensus on drafting a formal development agreement. The EDA will consider adopting a resolution on the predevelopment agreement on January 8, 2017. Commissioner Freichels asked if the picture shown is what the development would look like. Beeman informed the Commission that the picture is a concept and a more accurate depiction of the building and development is forthcoming once their architects are on board. Freichels asked about the gun range. Beeman informed the Commission that the City will be contracting with INH Properties as the developer for the whole project which includes all three parcels. The predevelopment agreement allows INH to sell a portion of the property to Heartland Gun Club & Range in a horizontal mixed-use development, meaning INH Properties will be responsible for constructing the market rate apartments and traditional retail and Heartland Gun Club & Range will develop the indoor gun range as a standalone building separate from the apartments. If the gun range is not approved then INH may consider increasing the number of apartment units and constructing a portion of space to be used for traditional retail. The agreement specifies that the entire development must be completed by 2020. Commissioner Muckala asked if the gun club portion of the development would be developed first. Beeman confirmed that the gun club would be build first because it is the portion of the development that drives the revenue. If the gun club is allowed to be constructed then the developer has indicated that they wouldn’t be asking for a TIF. However, if the gun club is not allowed, then the developer has notified the Council that they may be asking for a Housing TIF or some other subsidy to make the project cash flow. This means the entire three parcels would be apartments and it would also trigger a portion of the apartments to be offered as affordable units. Rice Creek Commons Beeman informed the Commission that dewatering continues and they are monitoring the wells which has delayed development on the site for a year. A few housing starts were expected at the end of 2017 but this has been delayed to the end of 2018. This gives Mounds View a small window of opportunity for redevelopment before construction begins at Rice Creek Commons.