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Mounds View EDA December 10, 2007 <br />Regular Meeting Page 2 <br /> <br /> 44 <br />None. 45 <br /> 46 <br />7. EDA BUSINESS 47 <br /> 48 <br /> A. Consider Authorizing Assistance to Master Development for the Acquisition 49 <br /> and Redevelopment of Real Property Located at 2400 County Road H2. 50 <br /> 51 <br />Interim Executive Director Ericson explained that the purpose of the report is to review the 52 <br />discussion with Master Development relating to the Robert’s site. The property is for sale and 53 <br />Master Development is negotiating with the bank that now owns it. 54 <br /> 55 <br />Interim Executive Director Ericson explained that Master Development has requested that the 56 <br />City consider assisting with purchasing the property in order for it to redevelop. Staff feels that 57 <br />this is warranted, and there is $625,000 that Master Development has agreed to pay for the 58 <br />Premium Stop parcel and redevelopment of the Robert’s site, which would increase the tax base 59 <br />for the future. 60 <br /> 61 <br />Staff is not suggesting fully funding the requested amount. 62 <br /> 63 <br />Vice President Stigney indicated that he would like to let this redevelop as the market dictates, 64 <br />rather than using City funds to redevelop. He then said that he would like Staff to contact them 65 <br />to see what the plans are. 66 <br /> 67 <br />Commissioner Flaherty said that when the City agreed to purchase Premium Stop, the City is to 68 <br />be made whole on that project. He then said that he would be willing to discuss this after the 69 <br />City is made whole on the project. 70 <br /> 71 <br />The Authority agreed to discuss this again on January 14, 2008. 72 <br /> 73 <br /> B. EDA Resolution 07-EDA-238 Appointing Members to the EDC 74 <br /> 75 <br />Interim Executive Director Ericson reviewed the applications for members to the EDC. The 76 <br />names are Daniel Larson and Jennifer Wagner and Staff recommends approval of Resolution 07-77 <br />EDA-238 appointing these two individuals to fill the vacancies on the EDC. 78 <br /> 79 <br />MOTION/SECOND: Mueller/Hull. To Waive the Reading and Approve Resolution 07-EDA-80 <br />238, Appointing Members to the EDC. 81 <br /> 82 <br />Commissioner Mueller indicated she would like to ensure that the outgoing commissioners are 83 <br />recognized for service. 84 <br /> 85