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