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Item No: 7A <br />Meeting Date: August 27, 2012 <br />Type of Business: EDA <br />Administrator Review: ______ <br />City of Mounds View Staff Report <br />To: Economic Development Authority <br />From: Heidi Heller, Planning Associate <br />Item Title/Subject: Resolution 12-EDA-272, Approving a Limited Use <br />Agreement with Coventry Senior Living of Mounds View to <br />use EDA-owned land for construction staging. <br /> <br />Introduction: <br />The Mounds View City Council has given approvals for Coventry Senior Living to construct a <br />three-story, 95-unit senior housing building that will include independent living, assisted living <br />and memory care units. <br /> <br />Discussion: <br />The project is located on a 2.2 acre site on County Road 10, immediately adjacent to the <br />vacant EDA-owned “Premium Stop” site at 2390 County Road 10. Coventry staff have <br />asked the City if they could use the EDA’s property as a staging area during construction <br />since there will not be much room on the site for equipment or materials storage. <br /> <br />The City Attorney has drafted a Limited Use Agreement to be signed by the EDA and <br />Coventry which will protect the City by putting the liability for damage or accidents on <br />Coventry Senior Living. When construction is complete, Coventry is responsible for returning <br />the property to the same or better condition that it is in now. There are tentative dates that <br />the agreement will be in effect, but there is also language that would automatically extend <br />the agreement on a month-to-month basis should construction go beyond December 2013. <br />City Staff has suggested that Coventry pay a nomimal fee for the use of the property and is <br />suggesting $100 per month. The total fee for the amount of time stated in the agreement <br />would be collected prior to the start of construction. <br /> <br />Recommendation: <br />Staff recommends the EDA review the attached Limited Use Agreement and give approval to <br />Coventry Senior Living to use the EDA-owned parcel at 2390 County Road 10 for storage <br />during construction. <br /> <br />Respectfully Submitted By, <br /> Heidi Heller <br />Planning Associate <br /> <br />Attachments: <br />1. Limited Use Agreement between the EDA and Coventry Senior Living <br />2. EDA Resolution 12-EDA-272