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now would likely be less costly to the City than a condemnation proceeding in the <br />future. Second, acquisition could help facilitate the commercial redevelopment of <br />this visible corner lot. The Hwy. 10 Corridor is our main commercial arterial. By <br />purchasing this site, and perhaps combining it with other adjacent property, the <br />City could attract a wider range of developers to promote investment in the <br />community. Third, acquisition of this property could enable the City to expand <br />the Public Works Shop for equipment storage, parking, etc. It might facilitate <br />trails and other open space for pedestrians. <br /> <br />Staff recommends that an appraisal be undertaken to ascertain market values. <br />Quotes have been obtained from five certified commercial appraisers—R. A. <br />Field & Associates; Tisdell Appraisal Services; Orion Appraisals; Mark Oehrlein <br />Appraisals; and Appraisal Concepts. <br /> <br />Recommendation: <br /> <br />Staff recommends that the Mounds View Economic Development Authority adopt <br />the Resolution 04-EDA-184 that authorizes staff to arrange for an appraisal of <br />commercial property, known as Gas & Wash, at 2525 County Highway 10 in <br />Mounds View. It is recommended that the appraisal be paid out of the City’s <br />existing EDA funds and would be for an amount not to exceed $4,000. <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 />