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The Mounds View Vision <br />A Thriving Desirable Community <br /> <br />Recommendation: <br />Hear the redevelopment proposal from Commercial Investors Group and Choice Hotels <br />and review & discuss. Provide direction to staff and the developer on the EDA’s interest <br />in pursuing the hotel project. <br /> <br />The EDA should decide: <br />1) Process for hearing proposals on the Skyline property (as they come in or set <br />deadline to hear formal proposals) <br />2) Type of use that is acceptable (high density, commercial, industrial, mixed-use, <br />or all the above) <br />3) Flexibility on height of the building & parking ratio <br />4) Whether the EDA is still interested in transferring or selling the retention pond to <br />the developer for their project <br />5) Timeline to sell the property (sell as soon as there is a good proposal or sit on <br />property knowing that a recession is likely in the near future) <br />6) Whether or not to proceed with the current proposal <br /> <br />Should the EDA decide to pursue the hotel project, the EDA should direct staff to continue <br />to coordinate with the City Attorney and developer to present a resolution concerning a <br />purchase and development agreement at a future EDA meeting. The price and other <br />details will need to be agreed upon. A similar approach to the process of selling the <br />Crossroad Pointe site should be considered. <br /> <br />Respectfully submitted, <br /> <br /> ________________________ <br />Brian Beeman <br />Assistant City Administrator <br /> <br /> <br />Attachments: <br />1) Commercial Investors Group and Choice Hotels Proposal Power Point