Laserfiche WebLink
Mounds View EDA April 12, 2004 <br />Regular Meeting Page 2 <br /> <br /> 46 <br />Commissioner Gunn pointed out that the name of the development should be changed to Hidden 47 <br />Hollow in the Resolution. 48 <br /> 49 <br />MOTION/SECOND: Marty/Stigney. To Waive the Reading and Approve Resolution 04-EDA-50 <br />183, a Resolution Approving the Acquisition of Tax Forfeited Property on County Road H2 in 51 <br />Mounds View (Lot 36, Knollwood Park) from Ramsey County. 52 <br /> 53 <br /> Ayes – 5 Nays – 0 Motion carried. 54 <br /> 55 <br />7. REPORTS 56 <br /> 57 <br />Economic Development Coordinator Backman provided copies of the new plans and reviewed 58 <br />them with Council. 59 <br /> 60 <br />Economic Development Coordinator Backman indicated that Procraft is interested in making 61 <br />payments on the land spread out over 15 months with payments being $59,800. He then asked 62 <br />for comments from the EDA on the proposal. 63 <br /> 64 <br />Council Member Marty indicated he would like to ask how Procraft is paying for the other 65 <br />property being acquired as part of this project. 66 <br /> 67 <br />Gary Nordness from Procraft Homes indicated that Mr. Fyksen is requiring that he be paid cash 68 <br />and this proposal to the City is an attempt to allow them to not have to extend themselves out for 69 <br />the purchase price. He then indicated that they are willing to pay the City interest at the going 70 <br />rate. 71 <br /> 72 <br />Vice President Stigney indicated that he would want the City to enter into an agreement 73 <br />concerning the payments that specified payment dates and did not make the payments contingent 74 <br />upon lots being sold by the developer. 75 <br /> 76 <br />Mr. Nordness indicated that would be fine. 77 <br /> 78 <br />Economic Development Coordinator Backman indicated that payments would be set up on a 79 <br />quarterly basis over the 15 months. 80 <br /> 81 <br />President Linke asked where Rice Creek is with this matter. 82 <br /> 83 <br />Mr. Nordness indicated the plans were submitted on April 6, 2004. 84 <br /> 85 <br />There was consent of the Authority on the payment plan suggested. 86 <br /> 87