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EDA Item 8 – May 11, 2009 <br />Reports <br />Page 2 of 3 <br /> <br />agreement for Unit 5366, which is 1,550 square feet. The purchase agreement is <br />contingent upon the dentist obtaining financing to assist with such things as purchasing <br />the space (about $183,000) and building out the space (about $120,000). The space <br />currently has sand floors. Mr. Wentz also told City staff that the clinic would create <br />three initial jobs in Mounds View (dentist, dental hygienist and receptionist). <br /> <br />The proposed dental clinic does not meet the EDA’s loan program criteria because only <br />businesses that have been located in Mounds View for at least two years are eligible. <br /> <br />Staff has not received a loan application but the dentist plans to submit an application if <br />the EDA is willing to consider waiving the aforementioned loan criteria. Staff is <br />requesting direction from the EDA on this issue. <br /> <br />8C. Update - Property Owner (2949 Hwy 10) Acquisition Request <br /> <br />On April 27, 2009, homeowner Mark Schnor (2949 Hwy 10) asked the EDA to purchase <br />his property for redevelopment purposes. The EDA did not make a decision to <br />purchase Mr. Schnor’s property but directed staff to continue promoting the site for <br />redevelopment. <br /> <br />Staff met with Finn Daniels Architects on April 28, 2009 who is interested in completing <br />a 30-unit rental townhome project in Mounds View. They are interested in the five- <br />parcel, 4-acre site shown below, which includes Mr. Schnor’s property, Mr. Waldoch’s <br />property and Mr. Lillistrand’s property. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />