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The Mounds View Vision A Thriving Desirable Community Item #: 7A Meeting Date: February 18, 2021 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Brian Beeman, Assistant City Administrator Item Title/Subject: Reports of Staff A. Gray Stone Flats Redevelopment Project Closing on the sale of Crossroad Pointe was completed November 4, 2019. INH Properties has reached substantial completion for the 128 unit market rate apartment building. Some materials and appliances have had significant delays because of COVID, however they are still scheduled for an early spring completion. Staged units have been open since January 25th, 2021 with a temporary certificate of occupancy (CO). The full CO is unknown at this time. B. Rice Creek Commons (TCAAP) Development Update In late spring of 2019 project engineers were in the process of plans for mass grading, utility installation, and primary roadways on the site. This work was slated to be completed in 2019. Initially, the first phase of housing and early commercial construction was expected to begin in 2020 and when fully realized, the mixed-use development was expected to offer 1,460 housing units, support at least 4,000 living-wage jobs, and generate approximately $8.6 million in property taxes annually. However, the County has decided not to participate with the City of Arden Hills and has filed a lawsuit against the City. Therefore, all timelines and plan are on hold until further notice. News from May 5, 2020 reveals that the site was taken off of the Superfund list and has received environmental clearances. Ramsey County Commissioner Nicole Joy Frethem met with the Mounds View City Council January 11, 2021 and stated that the law suit is still in effect however, neither party is at liberty to mention any details of the lawsuit. However, she stated that they feel progress is being made. C. Mounds View Business Council Meeting The next meeting will be held at the MV Event Center March 10, 2021 from 8:00-9:00 a.m. All meetings are free and all EDC Members are encouraged to attend. The topic is TBD. D. Skyline Motel Bauer Welding is cooperating with the City to sell their backlot to an agreed upon developer who will purchase the northern portion of the EDA owned Skyline redevelopment site. MWF Properties is anticipating purchasing the southern portion of the site once they can secure their tax credits. Both Bauer Welding and Bio Clean plan to expand their operations as well, resulting in the potential of four development projects on the overall redevelopment site. E. Long Lake Woods Marty Harsted is moving forward in creating 12 new single-family residential lots. He would like to break ground in the summer of 2021. He apparently has about four homes that would be build right away once the development has been completed. He is currently waiting for one of the property owners to respond to an appraisal and offer before going forward. F. Tom Fields Estate A developer had planned to purchase three lots from Tom Fields located across from Lambert Park to construct three assisted living homes, however Mr. Fields has delayed the project and has not responded to the City. Therefore, the developer has backed out of the project. G. Simon’s Building The Simon’s building and adjacent EDA lot are still for sale. There has been some inquiries for a small multi-family structure and most recently, an auto parts retail store but nothing serious to date. H. Popeye’s The Popeye’s franchise has completed all of the underground work. Within the next month they should be getting the shell of the building completed, enclosed, and heated for the remainder of the work to be continue. The goal is an early summer opening.