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Mounds View City Council Page Three <br /> 410 Regular Meeting April 25, 1994 <br /> Mayor Linke asked if there were any items the Council desired removed <br /> from the Consent Agenda. There were no items removed. <br /> MOTION/SECOND: Trude/Blanchard to Adopt the Consent Agenda as presented. <br /> VOTE: 5 ayes 0 nays Motion Carried <br /> RESIDENTS REQUESTS AND COMMENTS FROM THE FLOOR <br /> There were no requests or comments made at this meeting. <br /> PUBLIC HEARINGS <br /> There were no public hearings scheduled for this meeting. <br /> COUNCIL BUSINESS <br /> A. Consideration of Waiving the Letter of Credit Requirement for Mounds <br /> View Business Park South <br /> Samantha Orduno, City Administrator, stated that the Everest Group <br /> has requested that the City consider waiving the Letter of Credit <br /> requirement as stated in the Development Agreement for the Mounds <br /> View Business Park South. Paul Harrington, the City's Community <br /> Aik Development Coordinator, was asked to research the provisions of the <br /> Agreement and comment on the status of the requirements as well as <br /> the market values, taxes and tax payment record. Orduno reported <br /> that after researching the data and meeting with Everest's <br /> representatives, it was staff's conclusion that the risk to the City <br /> regarding this development are minimal in terms of the conditions of <br /> the Agreement. Orduno stated that Staff's recommendation is that the <br /> Council waive the remaining Letter of Credit requirement of the <br /> Agreement. Orduno stated that elimination of this requirement frees <br /> up the owner's ability to borrow funds necessary to further develop <br /> property in Mounds View and to recruit new tenants to the business <br /> park. <br /> MOTION/SECOND: Trude/Wuori to Waive the Letter of Credit <br /> Requirement for Mounds View Business Park South <br /> VOTE: 5 ayes 0 nays Motion Carried <br /> B. Consideration of Resolution No. 4550 Regarding that Ramsey County <br /> Close the Ardan Park Compost Facility <br /> Samantha Orduno, City Administrator, reported that at the April work <br /> session the Parks and Recreation Commission presented their <br /> Commission Goals and Work Plan. One of the goals of the Plan was to <br /> develop Ardan Park into a community park with playground equipment <br /> and recreational amenities. The Commission requested that the <br /> compost site be removed from the park to facilitate plans to turn <br /> the area into a functional park. <br />