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Item #: 7A Meeting Date: March 16, 2018 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Brian Beeman, Business Development Coordinator Item Title/Subject: Reports of Staff A. Crossroad Pointe Redevelopment Project On January 8, 2018 the EDA approved the predevelopment agreement between the EDA and INH Properties who is proposing to build an approximately 120-160 unit market rate apartment building. Originally, the developer was proposing to build both traditional and destination retail. However, the City Council passed an ordinance relating to the discharge of weapons that excludes gun ranges. Therefore, the Heartland Gun Club & Range will not be constructing a building on the Crossroad Pointe site. In addition, Ramsey County is denying access along Mounds View Boulevard and this has prevented any retailer from showing interest in the site. Therefore, INH is proposing to construct apartments on the entire 4.25 acre site and they may be asking for TIF to help fill the financial gap that the Heartland gun club would have helped to fund. INH has until the end of March to work with the City on any other ideas for retail, otherwise, they will be moving forward with all apartments and no retail. INH will begin their due diligence by coordinating with their architect and testing the soils etc. soon. INH will have legal access to the Crossroad Pointe site for one year to conduct their due diligence and work towards a formal development agreement. C. Rice Creek Commons (TCAAP) Development Update Dewatering and motoring & testing of the water on site will continue with bids for a company to conduct the monitoring going out in 2018. The infrastructure is expected to be installed in 2019 and new building construction is expected to begin in 2020. Developers continue to inform the City that they will not be looking at Mounds View sites once the TCAAP construction begins and at the earliest, depending on how far along the construction progresses at Rice Creek Commons, they could revisit Mounds View opportunities in 10-12 years but it could be longer. Therefore, Mounds View has a very limited window of opportunity to get construction started before the Rice Creek Commons projects start. D. Mounds View Project Updates N/A E. North Metro Business Council Meeting The next North Metro Business Council meeting will be held March 14, 2018 from 7:30- 9:00 a.m. at the Mermaid Event Center. The topic is, “What is Happening at the National