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EDA RESOLUTION NO. 07-EDA-237 <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING THE PRELIMINARY DEVELOPMENT AGREEMENT OF <br />THE PREMIUM STOP PROPERTY WITH MASTER DEVELOPMENT <br />WHEREAS, the parcel located at 2390 County Road 10, at the intersection of <br />County Road H2 and Co. Road 10, was a nuisance and blighted property on the City's <br />main commercial corridor; and, <br />WHEREAS, the Mounds View Economic Development Authority (EDA) acquired the <br />irregularly-shaped site formerly known as the Premium Stop gas station and convenience <br />store in September 2006; and, <br />WHEREAS, the EDA intends to facilitate the commercial redevelopment of this 1.28 <br />acre parcel; and, <br />WHEREAS, on May 14, 2007, the EDA authorized the preparation and distribution <br />of a Request For Qualifications (RFQ) to metro area developers and redevelopment <br />entities based on the DSU /Bonestroo prepared planning study for the project area; and, <br />WHEREAS, Master Development, located in Minneapolis, submitted a response <br />deemed acceptable by staff; and, <br />WHEREAS, Master Development has demonstrated an ability to facilitate the <br />redevelopment of the Premium Stop site and the willingness to coordinate the development <br />with adjoining properties to maximize the scope of the redevelopment footprint; and, <br />WHEREAS, in an effort to formalize responsibilities and expectations, the Mounds <br />View Economic Development Authority desires to enter into six-month exclusive <br />preliminary development agreement with Master Development in furtherance of the <br />expressed redevelopment vision for this area. <br />NOW, THEREFORE BE IT RESOLVED THAT the Mounds View Economic <br />Development Authority does hereby approve the attached preliminary development <br />agreement and directs the President and Executive Director to execute the agreement on <br />behalf of the authority. <br />Adopted this 13t"day of November, 2007 by the <br />Mounds V~ Economic Development Authority <br />(ATTEST) <br />Rob A71arty, President <br /> <br />James Ericson, Interim Executive Director <br />