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Minutes of the Economic Development Commission <br /> City of Mounds View <br /> Ramsey County, Minnesota <br /> • Regular Meeting <br /> g <br /> December 10, 1998 <br /> City of Mounds View, 'Back" Conference Room <br /> 2401 Highway 10, Mounds View, MN 55112 <br /> 1. CALL TO ORDER: <br /> The meeting was called to order at 7:38 a.m. by Chairperson Cindy Carlson. <br /> 2. ROLL CALL: <br /> Members present: Cindy Carlson,Tom Field, Brian Sjoberg,Sean Walther,Ron Schmidt, <br /> EDA Liason Roger Stigney;Wendy Marty participated by telephone conference call. <br /> Members absent: Rosemary Goff <br /> Staff present: Economic Development Coordinator Kevin Carroll,Community Development <br /> Director Rick Jopke <br /> 3. APPROVAL OF MINUTES: G '/ 1, <br /> • Motion/Second:Walther/Sjoberg to approve the minutes fro÷gust 27, 1998. <br /> Motion carried unanimously. <br /> 4. SPECIAL BUSINESS <br /> None. <br /> 5. EDC BUSINESS — <br /> A. Update on Mermaid Hotel &Banquet Center <br /> Economic Development Coordinator Kevin Carroll provided the EDC members with a progress <br /> report regarding the Mermaid project,particularly with respect to proposed provisions to be <br /> induded in the working draft of the Development Agreement between the City and the <br /> Developer. There was general agreement among the EDC Commissioners that the final version <br /> of the Development Agreement should include the following <br /> --Clarification regarding the form/nature of the"Developer" : Individual(s)? <br /> Partnership(s)? Corporation(s)? <br /> ----Clarification regarding the amount(if any) of the Developer's cash equity <br /> • investment in the project and/or a requirement that the Developer make a cash equity <br /> \\MOUNDS VIEW\SYS\DATA\GROUPS\ECONDEV\EDA EDC\EDC\EDCMIN98\EDCMINI2.DOC <br />