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Item No. 8A <br />Meeting Date: February 12th, 2001 <br />Type of Business: EDA <br />WK: Work Session; PH: Public Hearing; <br />CA: Consent Agenda; EDA: EDA Business <br /> <br /> <br /> <br />City of Mounds View Staff Report <br />To: President and EDA Commissioners <br />From: Aaron Parrish, Economic Development Coordinator <br />Item Title/Subject: Provide Staff Direction Regarding the Acquisition of 7980 Groveland Road <br />Date of Report: February 7, 2001 <br /> <br />Background: <br /> <br />As the EDA is aware, staff has been approached by Mr. Greg Johnson, owner of 7980 Groveland <br />Road, about the possibility of selling this property to the City. The parcel is currently improved with a <br />single-family residence. Based on direction provided at the February Work Session, the EDA will be <br />presented with an appraisal of the property. While the full report will not be available by the time of <br />the EDA meeting, we have been assured that a letter indicating a value will be made available to us <br />by Monday. Mr. Johnson has offered to sell the property for $150,000. <br /> <br />As indicated at the Work Session, Mr. Johnson has also received an offer to purchase the property <br />which expires February 16, 2001. Accordingly, if the EDA were interested in acquiring the property, <br />it would be necessary to direct staff to draft a purchase agreement. Of course, the purchase <br />agreement would be contingent upon EDA approval. <br /> <br />Necessary Actions: <br /> <br />Provide Staff Direction Regarding the Potential Acquisition of 7980 Groveland Road. <br /> <br /> <br /> <br />______________________________________ <br />Aaron Parrish, Economic Development Coordinator <br />(763) 717-4029 <br />