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Mounds View City Council Work Session, April 5, 2021 16 <br />Owner SCF RC Funding IV, LLC <br />Address 2200 MV Blvd <br />22XX Co Rd H2 <br />Current Land Use Mermaid Event Center <br />Zoning PUD <br />Comp. Plan General Com. <br />Opportunities <br />Adding restaurant, retail, commercial, east side bus stop <br />Constraints <br />New owner isn’t interested in other businesses unless he owns <br />them <br />Staff Comments <br />Current owner improved interior, wants to add 10,000 SF <br />entertainment area and new multi-story hotel expansion when <br />Rice Creek Commons gets developed, on busiest intersection in <br />MV with multiple opportunities <br />City Participation? Unlikely <br />EMV: $8.5 million <br />$22 p/sf <br />Why this <br />project matters