05-22-2006 - Laserfiche WebLink

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Mounds View EDA March 27, 2006 Regular Meeting Page 2 Medtronic campus project, the City of Mounds View sought legislative action during the 2005 46 Legislative Session to eliminate the reverter clause on the former MnDOT property. 47 48 Economic Development Coordinator Backman noted that MnDOT obtained an appraisal on the 49 40-acre parcel that indicated the value was approximately $3,470,000 or $86,000 per acre. He 50 explained discussions between the Federal Highway Administration and MnDOT determined 51 that 64 percent of the value was the “federal interest” that would be subject to the reverter clause. 52 He stated that following negotiations, it was agreed that any dollar amount above the $1 million 53 paid by Medtronic on behalf of the City, would not be borne by the City or Medtronic. He stated 54 that the Administration would support a supplemental budget appropriation during the 2006 55 Legislative Session to satisfy the federal interest. 56 57 Commissioner Gunn arrived at 6:36 p.m. 58 59 Economic Development Coordinator Backman explained that in March 2006, the governor 60 submitted the supplemental budget recommendations, which included a transfer of $1.2 million 61 from the General Fund to the Trunk Highway Fund for consideration for land conveyed. 62 63 Economic Development Coordinator Backman explained that State Representative Connie 64 Bernardy is seeking to add amendments to the Governor’s supplemental budget bill that will 65 direct $1.2 million to specific projects that would benefit the City of Mounds View and 66 surrounding communities. He noted that State Representative Connie Bernardy specifically is 67 requesting that $400,000 be directed to the proposed Noise Wall Extension on the south side of 68 State Highway 10, and $821,000 be directed to the North I-35W Corridor Design Concept. He 69 explained the latter is a Scoping Study that would identify and evaluate design concepts for I-70 35W, including Trunk Highway 10 and the County Road J/Lake Interchange. 71 72 Economic Development Coordinator Backman explained the $400,000 appropriation for the 73 sound wall is in addition to the $300,000 that MnDOT has programmed for the project. He 74 stated the City of Mounds View will pay sound wall project costs that exceed $700,000. He 75 explained that in discussions with Ehlers, a local match for the sound wall is a TIF eligible 76 activity. He noted that the legislation has the support of DEED and Medtronic. He commented 77 that both parties are willing to speak to legislators in support of the specific amendments. 78 79 Economic Development Coordinator Backman explained this is an opportunity for the City to 80 solve the longstanding problem for the Laport Meadows neighborhood. He noted these 81 supplemental dollars will get spent on road-related projects. He stated the question is what 82 projects they get spent on. 83 84 Economic Development Coordinator Backman offered to answer questions. 85 Vice-President Stigney asked why MnDOT would not pay the additional costs instead of just 86 $400,000. Economic Development Coordinator Backman stated it has to be recognized that this 87