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Mounds View EDA November 13, 2007 <br />Regular Meeting Page 2 <br /> <br />MOTION/SECOND: Mueller/Flaherty. To Approve the July 23, 2007 Minutes as Presented. <br /> <br /> Ayes – 4 Nays – 0 Motion carried. <br /> <br />6. CONSENT AGENDA <br /> <br />None. <br /> <br />7. EDA BUSINESS <br /> <br /> A. Consideration of EDA Resolution 07-EDA-237 Approving a Pre- <br /> Development Agreement With Master Development Relating to the Premium <br /> Stop Property <br /> <br />Interim Executive Director Ericson provided a review of the Pre-Development Agreement with <br />Master Development for the Premium Stop location. This Agreement would provide Master <br />Development with exclusive development rights for this property. Mr. Tobin has been in <br />discussions with the property owners for the Roberts site and there is a possibility that Master <br />Development could be dealing with the future property owner for that site. There have also been <br />discussion with the Sushi Bar and that owner is willing to consider working with the City and <br />Master Development on redevelopment of the site. <br /> <br />Interim Executive Director Ericson explained that if the Roberts site is not acquired there is a <br />concern that the agreement may not be fulfilled. The City Attorney has recommended no <br />changes to the Agreement and noted that the intent was not to obligate Master Development and <br />require them to acquire the other two properties but recommend that the City would like to have <br />those properties involved in the redevelopment of the Premium Stop site. <br /> <br />Commissioner Mueller asked whether it would be prudent for the City to seek further interest in <br />the project and submit requests for other developers since this was the only proposal received. <br /> <br />Interim Executive Director Ericson explained that Staff feels confident in the abilities of Master <br />Development and feels that their proposal would stand on its own merits. He then recommended <br />moving forward with the agreement noting that the duration of the contract was just six months. <br /> <br />Commissioner Flaherty indicated that he would like to move forward with this as it is time to get <br />this site redeveloped. <br /> <br />Commissioner Hull asked for clarification on Items A and B. <br /> <br />Interim Executive Director Ericson read Items A and B and provided an explanation. <br />