Laserfiche WebLink
Mounds View EDA January 14, 2008 <br />Regular Meeting Page 4 <br /> <br />Economic Development Coordinator Steinmetz indicated that there is an estimate for $80,000 in <br />demolition, $50,000 for filling and $55,000 for water and sewer improvements and $10,000 for <br />ponding. <br /> <br />Commissioner Flaherty asked what the bank has listed the property for. <br /> <br />Economic Development Coordinator Steinmetz indicated the listing price is $1.1 million. The <br />Bank had originally mentioned that they might be willing to accept $800,000 for the property. <br /> <br />Commissioner Flaherty asked what the bid to Welsh was for this property by the Developer. <br /> <br />Mr. Tobin indicated that it has been a few months since this was being discussed. Master had <br />submitted an offer less than $800,000. <br /> <br />Commissioner Flaherty asked why the City would not just buy the property. <br /> <br />Economic Development Coordinator Steinmetz indicated that would be an option or the EDA <br />could receive the grant funds and work with a developer who could provide the matching funds <br />for the acquisition. <br /> <br />Interim Executive Director Ericson indicated that the local matching funds do not have to come <br />from the City; they could come from working with a developer or other entity. <br /> <br />Valerie Amundsen, 3048 Woodale Drive, indicated that she had expressed concern about putting <br />more money into this corner when she contacted Council Member Mueller. She then said that <br />she does not feel that it is up to the City to become developers. <br /> <br />Ms. Amundsen said that she does not support this whatsoever as she feels that the property <br />should stand on its own and be sold for what the market will bear. <br /> <br />Interim Executive Director Ericson indicated that Staff would work toward a purchase price of <br />$800,000 or less rather the $1.1 million that the bank feels it is worth. He then said that Staff <br />feels that it is an appropriate use of TIF dollars to acquire properties that may not otherwise <br />redevelop and get back on the tax rolls. <br /> <br />Brian Amundsen, 3048 Wooddale Drive, asked whether the EDA regularly approves multiple <br />issues in one resolution. He then said that he sees three requests, one for the grant, one for the <br />TIF funds and one for the purchase of the property. He then requested that the items be <br />separated. <br /> <br />Mr. Amundsen said that he would like to see this property develop at the expense of a developer <br />and not the City.