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Item No: 07A Meeting Date: April 14, 2014 Type of Business: EDA Business City of Mounds View Staff Report To: Honorable Economic Development Authority From: James Ericson, Executive Director Item Title/Subject: Resolution 14-EDA-285 Approving an Amended and Restated Limited Use Agreement with Senior Properties of Mounds View to use EDA Property as a Construction Staging Area Introduction: The Mounds View EDA entered into a Limited Use Agreement effective Sept 1, 2012, with the developers of the Coventry project to allow the EDA’s land at 2390 County Road 10 to be temporarily used as a construction staging area with conditions. The developer has extended the agreement an additional year and now requests the additional use of the EDA’s property located at 2394 County Road 10. Discussion: The EDA recently contracted to demolish the improvements at 2394 County Road 10 and the site was graded, restored and seeded. The property, along with that of 2390 County Road 10, is part of the EDA’s redevelopment site referred to as “Crossroad Pointe” and the EDA had contracted with the firm Stantec to conduct a visioning and redevelopment scenario exercise. While this exercise is underway, the EDA would consent to the expansion of the developer’s use of the EDA’s property as a temporary construction staging area and to provide access to Greenfield Avenue. The lease amount for the original Limited Use Agreement was $100 per month. The EDA would require an additional $200 per month for the expanded use and to compensate for the delay caused in its own redevelopment endeavors. Recommendation: The City Attorney’s office has prepared an amended and restated Limited Use Agreement and Resolution 14-EDA-285 for the EDA’s consideration. Respectfully submitted, ________________________ James Ericson Executive Director