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Mounds View EDA May 24, 2004 <br />Regular Meeting Page 3 <br /> <br /> <br />Mr. Grano indicated the TIF note payment goes to Michaels and the indemnification stays with <br />Michael Investments with the building. <br /> <br />MOTION/SECOND: Quick/Gunn. To Approve Option Two. <br /> <br />Vice President Stigney asked for Staff recommendation. <br /> <br />Economic Development Coordinator Backman indicated that if he was encouraged to make a <br />decision he would go with option two and the reasons for that would be retaining indemnification <br />and he would like to see the development agreement closed out as soon as possible. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />B. Correct EDA Resolution 04-EDA-186 by Changing the Date of Requested <br />Public Hearing from June 21, 2004 to June 28, 2004. <br /> <br />MOTION/SECOND: Marty/Stigney. To Approve the Correction of Resolution 04-EDA-186 by <br />Changing the Date of Requested Public Hearing from June 21, 2004 to June 28, 2004. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />C. Discussion of Map Identifying Parcels to be Identified as Potential <br />Commercial and Residential Redevelopment Areas as Part of the Proposed <br />TIF Plan Modifications. <br /> <br />Economic Development Coordinator Backman briefly discussed the proposed map with the <br />Authority and asked Members to provide input on any additional parcels they would like to see <br />added to the map. <br /> <br />7. REPORTS <br /> <br /> A. Review Appraisal for Acquiring Gas & Wash 2525 County Highway 10. <br /> <br />The Authority discussed the appraisal received on the Gas & Wash property. Staff indicated that <br />the appraised value was found to be $819,000. <br /> <br />8. NEXT EDA MEETING: June 14, 2004 <br />