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<br />Item No: 03B1a. <br />Meeting Date: August 13, 2018 <br />Type of Business: EDA Business <br /> <br />City of Mounds View Staff Report <br />To: Economic Development Authority <br />From: Brian Beeman, Business Development Coordinator <br />Item Title/Subject: General Discussion/Issues on Crossroad Pointe <br /> <br />Background: <br />Any discussion surrounding the Crossroad Pointe development that isn’t in relation to the land price <br />or negotiation strategy should be conducted in an open meeting format. Therefore, staff allowed for <br />a general discussion/Issues agenda item on the topic of Crossroad Pointe to allow the EDA to <br />discuss anything else relating to Crossroad Pointe that is not price and negotiation strategy related. <br /> <br />One item the EDA will need to address in the near future is which option INH should pursue. <br />The City is cooperating with INH Properties to develop 4.25 acres at Crossroad Pointe. INH <br />Properties is proposing two options for development at the site. Option 1 is all apartments totaling <br />approximately 135 units. Option 2 is approximately 63 units of market rate apartments and a Kwik <br />Trip. <br /> <br />Discussion: <br />Should the EDA pursue a discussion about Option 1 & 2 a brief historical summary is provided <br />below. <br /> <br /> Information on each option was presented by INH Properties and Kwik Trip at the June 4, <br />2018 City Council Work Session. <br /> The Council directed staff and the developer to conduct a neighborhood meeting prior to the <br />Council consenting to Option 1 or Option 2. <br /> A neighborhood meeting was conducted June 27, 2018. <br /> The City Council considered the options at its July 2, 2018 Work Session and decided that <br />further discussion of the land sale price would need to occur at the EDA closed session. <br /> The Council held an EDA closed meeting July 9, 2018 and decided that an appraisal should <br />be completed before determining a land sale price. <br /> An appraisal report is planned for the EDA’s August 13, 2018 closed meeting. It is expected <br />that the Council will have enough information from the appraisals to make a determination of <br />the land sale price for each option. <br /> <br />Time permitting, discuss the pros and cons of each option and decide whether a decision can be <br />made at this meeting on choosing an option or if choosing and option should be postponed to a <br />future meeting. <br /> <br />Recommendation: <br />Decide whether to take action on Option 1 or Option 2 at this meeting or set a date in the future to <br />dedicate time and attention to hold a discussion on the options and take any necessary action. <br /> <br />If taking action at this meeting: <br />Consider approval of either Option 1, all apartments or Option 2, apartments and a Kwik Trip and <br />direct staff to negotiate the land sale price within the Council’s determined price range and to work