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Mounds View EDA August 27, 2018 Regular Meeting Page 2 A. Resolution 18-EDA-314, Approving the Preliminary EDA Property Tax Levy 1 Request and Budget for Fiscal Year 2019. 2 3 Finance Director Beer requested the EDA consider approving the preliminary EDA property tax 4 levy request and budget for fiscal year 2019. He reviewed the budget and levy in further detail 5 and explained per State Statute the EDA had to request the City Council to levy for this amount. 6 He reviewed the approval timeline and reported the City Council had to approve the levy amount 7 by September 30th. Staff recommended approval of the $100,000 EDA property tax levy. 8 9 Commissioner Bergeron requested further information on the current EDA fund balance. 10 Finance Director Beer stated in 2017 the fund balance was $345,000, which was made up of 11 notes receivable and actual funds. 12 13 President Mueller asked if the Commission were not to move forward with the levy request for 14 2019, could this be addressed at a future City Council meeting. Finance Director Beer reported 15 this was the case and noted the levy amount could be lowered but could not be increased over 16 $100,000. 17 18 MOTION/SECOND: Hull/Gunn. To Waive the Reading and Adopt Resolution 18-EDA-314, 19 Approving the Preliminary EDA Property Tax Levy Request and Budget for Fiscal Year 2019. 20 21 Commissioner Meehlhause reviewed the levy balance for 2018 and discussed the loans that have 22 been requested to assist several families living in mobile homes. 23 24 Ayes – 5 Nays – 0 Motion carried. 25 26 B. Consider Options for Crossroad Pointe Redevelopment Project. 27 28 Business Development Coordinator Beeman discussed the options available to the EDA for the 29 Crossroad Pointe redevelopment project. He explained the EDA has entered into a 30 predevelopment agreement with INH Properties. He commented on the two options that INH has 31 proposed, one being all apartments and the other would be for a mixed use development that 32 would require alcohol and tobacco licenses. A neighborhood meeting was held in June for the 33 Council to gather input from the residents. He reported the Council held a closed meeting on 34 August 20th to discuss the price for the land with two different appraisal companies. In order for 35 staff to move forward with negotiations with the developer, the EDA would have to make a 36 decision on which option to pursue. He requested the EDA provide staff with direction on how to 37 proceed. 38 39 Commissioner Meehlhause asked if the purpose of the closed session was to develop the range 40 on the sale of the property. He explained he was surprised the EDA would be discussing the 41 range publicly. Business Development Coordinator Beeman reported the price range was not 42