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Mounds View EDA May 24, 2004 <br />Regular Meeting Page 3 <br /> <br /> 88 <br />Mr. Grano indicated the TIF note payment goes to Michaels and the indemnification stays with 89 <br />Michael Investments with the building. 90 <br /> 91 <br />MOTION/SECOND: Quick/Gunn. To Approve Option Two. 92 <br /> 93 <br />Vice President Stigney asked for Staff recommendation. 94 <br /> 95 <br />Economic Development Coordinator Backman indicated that if he was encouraged to make a 96 <br />decision he would go with option two and the reasons for that would be retaining indemnification 97 <br />and he would like to see the development agreement closed out as soon as possible. 98 <br /> 99 <br /> Ayes – 5 Nays – 0 Motion carried. 100 <br /> 101 <br />B. Correct EDA Resolution 04-EDA-186 by Changing the Date of Requested 102 <br />Public Hearing from June 21, 2004 to June 28, 2004. 103 <br /> 104 <br />MOTION/SECOND: Marty/Stigney. To Approve the Correction of Resolution 04-EDA-186 by 105 <br />Changing the Date of Requested Public Hearing from June 21, 2004 to June 28, 2004. 106 <br /> 107 <br /> Ayes – 5 Nays – 0 Motion carried. 108 <br /> 109 <br />C. Discussion of Map Identifying Parcels to be Identified as Potential 110 <br />Commercial and Residential Redevelopment Areas as Part of the Proposed 111 <br />TIF Plan Modifications. 112 <br /> 113 <br />Economic Development Coordinator Backman briefly discussed the proposed map with the 114 <br />Authority and asked Members to provide input on any additional parcels they would like to see 115 <br />added to the map. 116 <br /> 117 <br />7. REPORTS 118 <br /> 119 <br /> A. Review Appraisal for Acquiring Gas & Wash 2525 County Highway 10. 120 <br /> 121 <br />The Authority discussed the appraisal received on the Gas & Wash property. Staff indicated that 122 <br />the appraised value was found to be $819,000. 123 <br /> 124 <br />8. NEXT EDA MEETING: June 14, 2004 125 <br /> 126 <br />127