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Mounds View EDA November 14, 2005 <br />Regular Meeting Page 10 <br /> <br />not equal what has been spent on this property, which is why the City should not be in the land 380 <br />business. 381 <br /> 382 <br />Director Ericson stated there always was the intent to demolish the buildings and that fixed cost 383 <br />was always there with the understanding this would be a redevelopment. He noted it can 384 <br />probably be sold for $100,000 so the City may not come out ahead financially but it will remove 385 <br />a blighted condition and bring in a new structure and better tax base. He explained that 386 <br />sometimes it takes years to realize the benefit. 387 <br /> 388 <br /> Ayes –5 Nays – 0 Motion carried. 389 <br /> 390 <br />8. REPORTS 391 <br /> 392 <br />None. 393 <br /> 394 <br />9. NEXT EDA MEETING: Monday, November 28, 2005 @ 6:30 p.m. 395 <br /> 396 <br />10. ADJOURNMENT 397 <br /> 398 <br />President Marty adjourned the meeting at 7:25 p.m. 399 <br /> 400 <br />Respectfully submitted, 401 <br /> 402 <br /> 403 <br />Recorded and transcribed by: 404 <br /> 405 <br />Carla Wirth 406 <br />TimeSaver Off Site Secretarial, Inc. 407 <br /> 408