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Item No: 8A <br />Meeting Date: Feb 11, 2002 <br />Type of Business: EDA Business <br /> <br />City of Mounds View Staff Report <br />To: Mounds View Economic Development Authority <br />From: James Ericson, Community Development Director <br />Item Title/Subject: Consideration of Resolution 02-EDA-160 Approving <br />First Half Developer Payments for the Building N and <br />Silver Lake Pointe Developments <br />Date of Report: February 7, 2002 <br /> <br />Background: <br /> <br />Aaron Backman and Charlie Hansen have been working many hours together with the <br />assistance of our TIF advisors to come up with the appropriate pay-as-you-go <br />development assistance payments. <br /> <br />Discussion: <br /> <br />After long and careful review, staff is confident with the accuracy of the payments for the <br />two projects outlined in Resolution 02-EDA-160. Payments for the remaining pay-as-you- <br />go project will not be made at this time as it appears that the developer has been <br />overpaid in excess of what the first half 2002 payment would have been. Staff will be on <br />hand at the meeting to discuss this in as much detail as the Authority would desire. <br /> <br />Recommendation: <br /> <br />Approve Resolution 02-EDA-160 approving first half 2002 developer payments for the <br />Building N and Silver Lake Pointe Developments. <br /> <br /> <br />_____________________________________ <br />James Ericson <br />Community Development Director <br />763-717-4021 <br />