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Mounds View EDA May 12, 2008 <br />Regular Meeting Page 2 <br /> <br />Commissioner Flaherty, Page 3, Line 98 should be Commissioner Flaherty. 45 <br /> 46 <br />Mayor Marty, Page 1, Item 3, check if the Agenda was amended. 47 <br /> 48 <br />MOTION/SECOND: Mueller/Marty. To Approve the March 10, 2008, EDA Minutes as 49 <br />Amended. 50 <br /> 51 <br /> Ayes – 5 Nays – 0 Motion carried. 52 <br /> 53 <br />6. CONSENT AGENDA 54 <br /> 55 <br />None. 56 <br /> 57 <br />7. EDA BUSINESS 58 <br /> 59 <br /> A. Discuss Marketing Preferences for EDA-Owned Property Located at 2390 60 <br /> County Road 10. 61 <br /> 62 <br />Economic Development Specialist Steinmetz asked the EDA how aggressive Staff should be at 63 <br />marketing 2390 County Road 10. The reason the question is asked, is because the agreement 64 <br />with Master Development will be expiring and that leaves Staff to market the property. 65 <br /> 66 <br />Economic Development Specialist Steinmetz reviewed potential ways to market the property. 67 <br /> 68 <br />Commissioner Flaherty said he does not want to spend money for public relations but does want 69 <br />to market this property aggressively. He then said that when the property was purchased in 2006, 70 <br />Staff informed the EDA that the City would be made whole. The City should not buy property to 71 <br />take a loss and he would prefer to leave the property as green space, if the City cannot be made 72 <br />whole, until the market turns around. 73 <br /> 74 <br />Commissioner Flaherty said that he wants to market the property and get the value out of the 75 <br />property otherwise he wants to sit on it. 76 <br /> 77 <br />President Marty indicated that he was under the impression that the City would be made whole 78 <br />eventually, by putting something new on the site that will bring in taxes. 79 <br /> 80 <br />Economic Development Specialist Steinmetz indicted that the acquisition price was $625,000 81 <br />and that is what the EDA paid. The current Ramsey County 2008 estimated market value is 82 <br />$446,000. 83 <br /> 84 <br />Commissioner Mueller said that she thinks that there are people who travel down Highway 10 85 <br />that would see that sign and the sign could bring in inquiries. She then recommended taking out 86