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EDA Item 8 – May 11, 2009 <br />Reports <br />Page 3 of 3 <br /> <br />Finn Daniels Architects are currently acting as the developer to initiate this project. <br />They are studying the site and invited the property owners to a joint meeting to discuss <br />the total land costs. Would the EDA support a rental townhome project on this site? <br /> <br />8D. Update - Select Senior Living Project <br /> <br />The City Council approved this 95-unit senior housing project at the corner of Groveland <br />Road and County Road 10 in October 2008. The contractor applied for the building <br />permit in February 2009 and Building Official Kathi Osmonson has signed off on the <br />building plans. There are several items that the City needs the developer or builder to <br />complete before issuing the permit including: <br /> <br />• A signed Development Agreement <br />• A signed Final Plat <br />• Payment of Park Dedication and County Hwy10 trail fees <br /> <br />In addition, the developer needs to secure financing in order to purchase the property. <br /> <br />Respectfully submitted, <br /> ____________________________ <br />Heidi Steinmetz <br />Economic Development Specialist <br /> <br />Attachments: <br /> <br />• Business Improvement Partnership Loan Program Criteria <br />• Mounds View City Center Suites Flyer