02-15-2019 EDC - Laserfiche WebLink

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EDC Minutes January 18, 2019 Page 3 of 4 MWF Developers Beeman informed the Commission that MWF Properties has nearly completed the footings and plans to start erecting the garage and other walls this week. Construction is only two days behind despite the water issues. Construction is expected to be completed by the end of 2019. The Triton (Skyline Motel) Beeman informed the commission that The Triton project at the Skyline Hotel site was not successful in acquiring its federal tax credits necessary to make the project a reality. Instead, the developer reached out to the City to discuss assuming the purchase agreement by the end of 2018. The EDA met in closed session to discuss the matter and pricing for a possible acquisition. On December 27, 2018 the EDA approved the assumption of the purchase agreement to purchase the Skyline Motel. As, the purchase agreement would have expired Dec 31, 2018 if not executed by that date. The City is expected to close around May 1, 2019 and will use the money received from the Crossroad Pointe sale for the purchase. Since the EDA is a public entity, special regulations must be followed regarding the relocation of the motel’s long-term tenants. Once the EDA takes possession, the Police Dept. has requested using it for training then having the Fire Dept. use it as training in a controlled burn. Staff will start target marketing to developers once the EDA has official control of the site. Other Upcoming Events/Reports Beeman informed the EDC that a second prospect has now pulled out of purchasing the Snyder Pharmacy site due to concerns of contamination from the former Philips 66 gas station. There are apparently, vapors and other unknown costs for clean-up and the prospects are not willing to take on the risk. The MPCA reports indicate that the fuel tanks were removed but contamination was found at least 17’ underground and into the ground water at the time of the soil borings and monitoring wells. The MPCA signed off on the clean-up when Snyder’s Pharmacy built their structure, however the MPCA left a clause in their report that they can test the site anytime. As, new regulations may trigger further investigation and clean up. The City’s engineering firm is researching the matter and will notify staff of the next steps. Beeman informed the Commission that he is meeting with four developers in the next three weeks to review redevelopment sites. He also provided an update on the Mermaid. There is a new owner who has acquired around 17 properties. The Mermaid is the number one priority for upgrades and they are planning a new hotel wing as well as more entertainment such as laser tag, climbing walls, and an escape room. Beeman reminded the Commission that City offices will be closed January 21, 2019 in observance of Martin Luther King Jr. Day and to notify him if any Commissioners have ideas for people interested in filling Ken Breske’s spot on the EDC who recently resigned due to moving out of the City of Mounds View.