Laserfiche WebLink
<br />Item No: 2 <br />Meeting Date: October 5, 2009 <br />Type of Business: WS <br />Administrator Review: ____ <br />City of Mounds View Staff Report <br /> <br /> <br /> <br />To: Honorable Mayor and City Council <br />From: Heidi Steinmetz, Economic Development Specialist <br />Item Title/Subject: Discuss Burger Time Restaurant Concept for Former <br />Premium Stop Site <br /> <br />Introduction <br />The attached staff report to the EDC dated September 18, 2009, provides background on <br />Burger Time and how their building concept may fit with the 1.28-acre, EDA-owned <br />property located at 2390 County Highway 10. <br /> <br />The Mounds View Economic Development Commission (EDC) made the following two <br />recommendations (6-0 vote, 1 member absent) to the EDA on September 18, 2009 in <br />relation to Burger Time and the property at 2390 County Highway 10: <br /> <br />1. The EDA should proceed in discussions with Burger Time or other parties interested <br />in purchasing the former Premium Stop parcel located at 2390 County Highway 10. <br /> <br />2. The EDA should set an asking price for the former Premium Stop parcel located at <br />2390 County Highway 10 based on the mid-point of value ranges that at least three <br />appraisers provide verbally to City staff at no charge. <br /> <br />Background – 2390 County Road 10 <br />In mid-to-late 2006, the EDA invested $652,000 in the below pictured former Premium Stop <br />parcel located at 2390 County Highway 10. <br /> <br /> <br />Cty Rd H2 <br />County <br />Hwy 10 <br />Greenfield <br />Ave. <br />2390 Cty <br />Hwy 10 <br />Taiko <br />Japanese <br />Restaurant <br />