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Mounds View EDA November 14, 2005 Regular Meeting Page 5 President Marty agreed that is a wise approach, noting it can take years to get matching funds and it is never guaranteed. He stated this project may not get done or it could be 10 or more years out if the City waits for matching funds. He stated County Road 10 has been talked about for years and with the exception of several signal changes, timing sequences, and a few trailways, that is all that has been done. He stated it is in the 2006 budget to move forward and that will have to be done to get the project going. President Marty referenced the staff report and commented on the listing of projects. He stated he does not see some of them as viable priorities but more like a “wish list” that the City would like to see happen. But, he does not see it as being realistic to invest City or TIF funds. Director Ericson explained that the EDC was looking at it from the perspective of what needs to be changed in the City, what areas are not presenting a positive image, and where the tax base can be increased and improved. He stated the Skyline Motel is a prime example of a property where taxes are not increasing, it is underutilized, and has caused problems in the past. He stated that will probably not change but for City involvement. Director Ericson stated all of the potential development projects presuppose there is a willing seller. He noted PAK is looking to redevelop but there is a funding gap so they are looking at the City for funding participation. He agreed that with the Donut Connection property, a restaurant is interested in the site so it is now a lost opportunity for the City. Previously it was for sale under the County assessed valuation but the City did not purchase it. Director Ericson stated the gas station is now for sale and suggested as part of Project #3 (Premium Stop/Donut Connection/Sitdown Restaurant) it would make good sense to acquire with TIF for a potential redevelopment. He advised that the gas station site was marketed as redevelopment but the only calls being received are from potential buyers who want to maintain it as an independent gas station. He stated he is not asking for authorization tonight but may in the future request the EDA look at possible acquisition. Director Ericson stated that Moundsview Square is a project where Paster would be looking for some assistance, as they did with the Hardee’s building. However in that case, they did not get all of their information to the City in a timely manner so they decided to go forward without City assistance. But, to redevelop the Moundsview Square property, they would be looking at the City for assistance and but for that assistance, it may not move forward. Director Ericson stated this may be a “wish list” but it impacts the aesthetics of Mounds View. He stated the City wants to reinvigorate the County Road 10 corridor and improve the tax base by investing in some of the properties to achieve that goal. Commissioner Thomas stated President Marty has indicated the infrastructure redevelopment is his first priority and redevelopment of the businesses would come second to that. She stated it