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Mounds View EDA May 14, 2001 <br />Regular Meeting Page 3 <br /> <br />Commissioner Thomas indicated she would like to know the assessed value of the land with no <br />improvements. <br /> <br />Commissioner Quick stated that when Council had its goal setting meeting one of the items <br />discussed was lifecycle housing. He then noted that this location might be a perfect location for <br />that type of housing. He further noted that the lot, as it sits unimproved, is not highly valuable <br />but noted the opportunity to join other parcels to create a residential subdivision makes the <br />property valuable. <br /> <br />President Sonterre indicated he was impressed with the proposal and stated that the City <br />continues to consider the community as “built out” with no future expansion and noted that <br />anytime there is a way to create buildable lots he supports that effort. <br /> <br />Commissioner Thomas indicated she liked the idea but wanted to make sure the City gets its <br />purchase price back out of the property. <br /> <br />Commissioner Marty stated it looks like the City would control slightly more than six (6) acres <br />with the acquisition of this property. <br /> <br />Economic Development Coordinator Parrish confirmed Commissioner Marty’s statement. <br /> <br />President Sonterre stated he was comfortable without having an appraisal as he feels with the <br />size of the lot the City is getting a good price based on what he knows the market value of his <br />house to be. <br /> <br />Vice President Stigney indicated that if residents in the area wanted to subdivide their lots to <br />create a subdivision they could do so without the City having to purchase the proposed property. <br /> <br />Vice President Stigney asked how much the City paid for the tax forfeited properties next door. <br /> <br />Economic Development Coordinator Parrish indicated one tax forfeited parcel was obtained for <br />$10,000 and the other one for between $30,000 and $40,000 but indicated there were not houses <br />on the lots and stated that tax forfeited properties are offered to the City at a reduced rate. <br /> <br />Vice President Stigney asked if the property is a blighted property. <br /> <br />Economic Development Coordinator Parrish indicated he did not consider the property to be <br />blighted but said there are elements of the house that could be improved. <br /> <br />Community Development Director Ericson indicated a case could be made that it is blighted <br />because the house is undersized for the lot, there are areas where there may be concern for the <br />structure of the house, there is evidence of water damage in the ceiling of the expanded area, and