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Mounds View EDA June 10, 2013 <br />Regular Meeting Page 2 <br /> <br /> 1 <br />6. CONSENT AGENDA 2 <br /> 3 <br />None. 4 <br /> 5 <br />7. EDA BUSINESS 6 <br /> 7 <br />A. Resolution 13-EDA-278 Authorizing and Approving the Authority’s 8 <br />Purchase Offer for the Property located at 2394 County Road 10, Mounds 9 <br />View, Ramsey County, Minnesota, and Approval of the Terms and 10 <br />Conditions and Purchase Agreement. 11 <br /> 12 <br />Economic Development Specialist Steinmetz indicated the revitalization of the County Road 10 13 <br />corridor was a priority of the Authority for 2013. She recommended the Authority authorize and 14 <br />approve the purchase of the property located at 2394 County Road 10 while also approving the 15 <br />terms and conditions of the Purchase Agreement. She reviewed several minor revisions in the 16 <br />Purchase Agreement indicating the expiration date was changed from June 10 to June 13. The 17 <br />purpose of this purchase would be to assemble several parcels for redevelopment while also 18 <br />removing blight along the corridor. 19 <br /> 20 <br />Commissioner Meehlhause questioned who would be responsible for cleanup of the site if 21 <br />environmental concerns were found. Executive Director Ericson explained the chain of title 22 <br />would be subject to cost recovery. 23 <br /> 24 <br />Commissioner Meehlhause asked if an appraisal would be completed on the property. Executive 25 <br />Director Ericson stated an appraisal would not be completed due to the fact the bank has 26 <br />accepted the City’s offer, and it was Staff’s opinion the City was not over paying for the property. 27 <br /> 28 <br />Commissioner Meehlhause inquired if the property had any special assessments or outstanding 29 <br />real estate taxes. Executive Director Ericson commented the property had not special or pending 30 <br />special assessments. Economic Development Specialist Steinmetz indicated the property taxes 31 <br />for this property were up to date. 32 <br /> 33 <br />Commissioner Hull questioned how the EDA would fund the purchase of the property. 34 <br />Economic Development Specialist Steinmetz explained the funds would come from the EDA’s 35 <br />unobligated TIF funds. 36 <br /> 37 <br />President Flaherty fully supported the purchase. 38 <br /> 39 <br />MOTION/SECOND: Gunn/Meehlhause. To Waive the Reading and Adopt Resolution 13-40 <br />EDA-278 Authorizing and Approving the Authority’s Purchase Offer for the Property located at 41 <br />2394 County Road 10, Mounds View, Ramsey County, Minnesota, and Approval of the Terms 42