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Mounds View EDA November 13, 2007 <br />Regular Meeting Page 2 <br /> <br />MOTION/SECOND: Mueller/Flaherty. To Approve the July 23, 2007 Minutes as Presented. 46 <br /> 47 <br /> Ayes – 4 Nays – 0 Motion carried. 48 <br /> 49 <br />6. CONSENT AGENDA 50 <br /> 51 <br />None. 52 <br /> 53 <br />7. EDA BUSINESS 54 <br /> 55 <br /> A. Consideration of EDA Resolution 07-EDA-237 Approving a Pre- 56 <br /> Development Agreement With Master Development Relating to the Premium 57 <br /> Stop Property 58 <br /> 59 <br />Interim Executive Director Ericson provided a review of the Pre-Development Agreement with 60 <br />Master Development for the Premium Stop location. This Agreement would provide Master 61 <br />Development with exclusive development rights for this property. Mr. Tobin has been in 62 <br />discussions with the property owners for the Roberts site and there is a possibility that Master 63 <br />Development could be dealing with the future property owner for that site. There have also been 64 <br />discussion with the Sushi Bar and that owner is willing to consider working with the City and 65 <br />Master Development on redevelopment of the site. 66 <br /> 67 <br />Interim Executive Director Ericson explained that if the Roberts site is not acquired there is a 68 <br />concern that the agreement may not be fulfilled. The City Attorney has recommended no 69 <br />changes to the Agreement and noted that the intent was not to obligate Master Development and 70 <br />require them to acquire the other two properties but recommend that the City would like to have 71 <br />those properties involved in the redevelopment of the Premium Stop site. 72 <br /> 73 <br />Commissioner Mueller asked whether it would be prudent for the City to seek further interest in 74 <br />the project and submit requests for other developers since this was the only proposal received. 75 <br /> 76 <br />Interim Executive Director Ericson explained that Staff feels confident in the abilities of Master 77 <br />Development and feels that their proposal would stand on its own merits. He then recommended 78 <br />moving forward with the agreement noting that the duration of the contract was just six months. 79 <br /> 80 <br />Commissioner Flaherty indicated that he would like to move forward this as it is time to get this 81 <br />site redeveloped. 82 <br /> 83 <br />Commissioner Hull asked for clarification on Items A and B. 84 <br /> 85 <br />Interim Executive Director Ericson read Items A and B and provided an explanation. 86 <br /> 87