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Item No. 6 <br />Meeting Date: October 2nd, 2000 <br />Type of Business: WK <br />WK: Work Session; PH: Public Hearing; <br />CA: Consent Agenda; EDA: EDA Business <br /> <br />City of Mounds View Staff Report <br />To: Mounds View Mayor and City Council <br />From: Aaron Parrish, Economic Development Coordinator <br />Item Title/Subject: Review of Lease/Rental Policy for 7861 Groveland Road <br />Date of Report: September 28, 2000 <br /> <br />Background: <br /> <br />At the September 25th, 2000 meeting of the EDA, the EDA authorized the purchase of 7861 <br />Groveland Road for future redevelopment. However, since redevelopment is not scheduled for the <br />immediate future, it has been suggested that the property be rented in the interim. To properly <br />manage the property, a lease and a sample rental policy have been presented for your review. <br /> <br />Lease and Rental Rate <br /> <br />With the exception of the rental rate, the following highlights the major components of the lease: <br /> <br />• An initial term of one year; renewable on a month-to-month basis thereafter. <br />• A security deposit of one month’s rent would be required. <br />• Animals would not be allowed without a written “Pet Agreement.” It is proposed that a “Pet <br />Agreement” contain an additional deposit of ½ one month’s rent. <br />• Tenant will be responsible for all utilities. <br />• Tenant will be responsible snow removal, lawn mowing etc. . . <br /> <br />A copy of the proposed lease has been included for your reference as Attachment #1. Additionally, <br />the lease has been sent to Kennedy and Graven for review. <br /> <br />As previously mentioned, a rental rate has not been incorporated into the lease at this point. Based <br />on a review of several local classified ads, the rental range for this type of property appears to be <br />$875 to $1200 per month. Accordingly, a rental rate of $975 a month is proposed for the property. <br /> <br />Rental Policy <br /> <br />Aside from a specific lease, it might be prudent to set some general policies for City owned rental <br />property. For reference, the City of Oakdale’s policy is restated below: <br /> <br />Priority Criteria for City Owned Rental Housing <br /> <br />1. First priority will be to City affiliates or agents, such as employees, Council or <br />Commission members, or other board representatives.