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Item No. 8B <br />Meeting Date: March 5th, 2001 <br />Type of Business: WK <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: Direction regarding 2625 Highway 10 <br />Date of Report: February 28, 2001 <br /> <br />Background: <br /> <br />Recently, city staff had the opportunity to meet with the owners of Mounds View Animal Hospital. <br />They are currently located at Silverview Plaza, but would like to construct or purchase a 3,000 to <br />5,000 square foot building. While a range of potential alternatives were discussed, they indicated a <br />preference for two particular sites. First, they asked about the possibility of building on City owned <br />property located 2625 Highway 10. This property is illustrated below: <br /> <br /> <br />This property, commonly referred to as the “Blue House” property, has been the subject of inquiry in <br />the past. Previous proposals contemplated affordable town house development and a Walgreens. <br />For a variety of reasons, these proposals were determined to be unacceptable and/or infeasible. At <br />this point, the Mounds View Animal Hospital has asked if the following questions could be <br />addressed: <br /> <br />1. Is the city interested in having this property developed? <br />2. If so, what would the city be willing to sell the property for? <br />3. Could tax increment financing assistance be made available? <br /> <br />With regard to item number two, the City purchased the property for $120,000 and then