04-11-2022 EDA - Laserfiche WebLink

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Item No: 6A MOUNDS VtE-W Meeting Date: April 11, 2022 Type of Business: EDA City Administrator Review: City of Mounds View Staff Report To: Economic Development Authority From: Brian Beeman, Assistant City Administrator Item Title/Subject: Public Hearing & Resolution 22-EDA-355, A Resolution Approving Purchase and Development Agreement and Conveyance of Property Located in Mounds View, Minnesota Background Sabry Sharara, a local dentist and the owner of Mounds View Family Dentistry, is moving forward on a commercial project on the corner of Groveland Road and Mounds View Boulevard. Mr. Sharara has already purchased the Simon's property located at 2840 Mounds View Boulevard and he is now seeking to purchase the adjacent EDA lot located at 7861 Groveland Road. He needs the EDA lot so that he has enough room for parking. Discussion The EDA met in a closed session March 14, 2022 to consider and discuss an offer that was submitted by Mr. Sharara to the EDA and the EDA decided to move forward with the sale. The EDA is required to first, hold a Public Hearing before selling public property. Proper notice of the Public Hearing was submitted for consideration of a Resolution approving a Purchase & Development Agreement for the property located at 7861 Groveland Road. Strategic Plan Strategy/Goal Maintain a positive business climate where businesses want to locate and remain in mounds view. Finance top redevelopment areas Industrial/Commercial/Residential. Financial Impact None. Recommendation Staff recommends that the EDA conduct a Public Hearing then consider Resolution 22-EDA- 355, a resolution approving purchase and development agreement and conveyance of property located in Mounds View, Minnesota. Respectfully submitted, Brian Beeman Assistant City Administrator Attachments(s): 1) 22-EDA-355, A Resolution Approving Purchase and Development Agreement and Conveyance of Property located in Mounds View, Minnesota 2) Purchase & Development Agreement