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The Mounds View Vision <br />A Thriving Desirable Community <br /> <br /> <br /> <br />Item #: 6A <br />Meeting Date: February 17, 2022 <br />Type of Business: EDC <br /> <br />City of Mounds View Staff Report <br />To: Economic Development Commission <br />From: Brian Beeman, Assistant City Administrator <br />Item Title/Subject: Reports of Staff <br /> <br /> <br />A. Rice Creek Commons (TCAAP) Development Update <br />In late spring of 2019 project engineers were in the process of plans for mass grading, utility installation, <br />and primary roadways on the site. This work was slated to be completed in 2019. Initially, the first <br />phase of housing and early commercial construction was expected to begin in 2020 and when fully <br />realized, the mixed-use development was expected to offer 1,460 housing units, support at least 4,000 <br />living-wage jobs, and generate approximately $8.6 million in property taxes annually. Ramsey County <br />Commissioner Nicole Joy Frethem met with the Mounds View City Council January 11, 2021 and stated <br />that the law suit is still in effect however, neither party is at liberty to mention any details of the lawsuit. <br />However, she stated that they feel progress is being made and they are nearing an agreement. “All <br />construction is still on hold”. <br /> <br />B. Mounds View Business Council Meeting <br />The next meeting will be held at the MV Event Center Wednesday March 9, 2022 from 8:00-9:00 a.m. <br />All meetings are free and all EDC Members are encouraged to attend. The featured speaker will be <br />Todd Graham, Principal Forecaster from the Metropolitan Council. <br /> <br />C. Skyline Redevelopment <br />The EDA has entered into a Preliminary Development Agreement with MWF Properties for the Skyline <br />Redevelopment site. They have applied for Tax Credits through the State of MN, Ramsey County <br />assistance, a Housing TIF through the City, and Conduit Bonds. They are proposing to construct 120 <br />units of affordable senior housing. Bauer Welding and Bio Clean plan to expand their operations as <br />well, resulting in the potential of four development projects on the overall redevelopment site. MWF <br />plans to break ground June 2022. <br /> <br />D. Long Lake Woods <br />Marty Harsted is moving forward in creating 12 new single-family residential lots. He would like to break <br />ground in the summer of 2022. He apparently has about four homes that would be built right away once <br />the development has been completed. <br /> <br />E. Tom Fields Estate <br />A developer had planned to purchase three lots from Tom Fields located across from Lambert Park to <br />construct three assisted living homes, however Mr. Fields has delayed the project. Therefore, the <br />developer has backed out of the project. Three more developers have inquired about these lots, <br />however the asking price is too high and they have backed out as well. This project is on hold until the <br />land owners agree to move forward. <br /> <br />F. Simon’s Building <br />The Simon’s property has been purchased by Sabry Shrara a local dentist and plans to submit an offer <br />on the EDA lot soon. The proposed project is a professional building consisting of a new dental office <br />and two additional suites to be leased to a future tenant. <br /> <br />G. New Vision Theater <br />The movie theater property has been sold to a Minnesota owner. Staff met with the new owners and <br />they plan to keep AMC in the building until 2032. They are also interested in putting in a new restaurant <br />on the opposite corner of the new Caribou Coffee building.