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Mounds View EDA April 27, 2009 <br />Regular Meeting Page 3 <br /> <br /> 87 <br />Mr. Schnor stated most Realtors were not interested in his property because of the PUD zoning 88 <br />and it is currently listed with Eagle Realty. He believed his property would be difficult to sell as 89 <br />it is the only single family residential home left in that section and there is heavy traffic on 90 <br />Highway 10. 91 <br /> 92 <br />Commissioner Hull asked if buying the house and renting it to the Schnors is an option. 93 <br />Economic Development Specialist Steinmetz stated she is unsure whether it would work since 94 <br />the rent amount would probably be higher than what Mr. Schnor is currently paying as a 95 <br />mortgage payment. She noted that if the City owns the property, it would go off the tax rolls but 96 <br />a development package would be easier to assemble if City owned. 97 <br /> 98 <br />Vice President Stigney stated the EDA needs to consider all options including whether there is a 99 <br />development opportunity for this property. He stated there are a lot of foreclosures in Mounds 100 <br />View so he would be reluctant to consider the option being discussed. Vice President Stigney 101 <br />noted that in the past the City bought some properties and rented them out but the results were 102 <br />not successful. 103 <br /> 104 <br />Mr. Schnor stated his belief it would be dangerous to put a family with children into his house 105 <br />because of the traffic on Highway 10. He stated he is able to pay his taxes and insurance and 106 <br />maintain the house. However, if the house sits empty, the City would have to pay someone to 107 <br />keep it up. 108 <br /> 109 <br />President Flaherty asked staff to research the options, finances, and determine potential 110 <br />development. 111 <br /> 112 <br />8. REPORTS 113 <br /> 114 <br />None. 115 <br /> 116 <br />9. NEXT EDA MEETING: Monday, May 11, 2009, at 6:30 p.m. 117 <br /> 118 <br />10. ADJOURNMENT 119 <br /> 120 <br />President Flaherty adjourned the meeting at 7:04 p.m. 121 <br /> 122 <br />Respectfully submitted, 123 <br /> 124 <br /> 125 <br />Recorded and transcribed by: 126 <br />Carla Wirth 127 <br />TimeSaver Off Site Secretarial, Inc. 128