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The above items are not final accepted terms from either Medtronic or the City. <br />They represent the best information that staff has at the present time. <br /> <br />Recommendation: <br /> <br />Staff is looking for guidance regarding the Phase Two Acceleration of the <br />Medtronic CRM Campus. Ehlers is preparing additional financial analysis that <br />will be presented at the Mounds View EDA’s January 23rd project informational <br />meeting. If the proposed terms meet the expectations of the EDA, and are <br />approved by Medtronic, the next step would be to incorporate the new terms into <br />an amended Development Agreement, taking into account that portions of the <br />original Purchase Agreement and Contract for Private Development have already <br />been accomplished. <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br /> <br />____________________________ <br />Aaron Backman <br />Economic Development Coordinator <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />\\Trout\CommDev\Economic Development\EDA\Staff Report 1-9-06 EDA Item #8A Medtronic Amended TermsV2.doc