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Mounds View EDA November 14, 2005 <br />Regular Meeting Page 10 <br /> <br />not equal what has been spent on this property, which is why the City should not be in the land <br />business. <br /> <br />Director Ericson stated there always was the intent to demolish the buildings and that fixed cost <br />was always there with the understanding this would be a redevelopment. He noted it can <br />probably be sold for $100,000 so the City may not come out ahead financially but it will remove <br />a blighted condition and bring in a new structure and better tax base. He explained that <br />sometimes it takes years to realize the benefit. <br /> <br /> Ayes –5 Nays – 0 Motion carried. <br /> <br />8. REPORTS <br /> <br />None. <br /> <br />9. NEXT EDA MEETING: Monday, November 28, 2005 @ 6:30 p.m. <br /> <br />10. ADJOURNMENT <br /> <br />President Marty adjourned the meeting at 7:25 p.m. <br /> <br />Respectfully submitted, <br /> <br /> <br />Recorded and transcribed by: <br /> <br />Carla Wirth <br />TimeSaver Off Site Secretarial, Inc. <br />