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<br />Item No: 7B <br />Meeting Date: November 13, 2023 <br />Type of Business: EDA <br />City Administrator Review: ______ <br />City of Mounds View Staff Report <br />To: Economic Development Authority <br />From: Brian Beeman, Assistant City Administrator <br />Item Title/Subject: Resolution 23-EDA-367, A Resolution Authorizing the Purchase of <br />Real Property <br /> <br />Background <br />At the September 25, 2023 EDA Closed meeting, the EDA discussed the potential purchase of 2833 <br />Mounds View Boulevard for redevelopment purposes. It was decided that this is a good site <br />because it is located along the Mounds View Blvd corridor. The EDA’s attorney at Kennedy & <br />Graven has prepared a purchase agreement for the subject property for the EDA’s consideration. <br /> <br />Discussion <br />The residential property located at 2833 Mounds View Blvd has recently been occupied by family <br />members. The property is currently vacant. The EDA is aware that there may be additional costs <br />incurred such as securing the property, demolition, and other associated costs. The EDA to review, <br />discuss, and consider the proposed purchase agreement. <br /> <br />Strategic Plan Strategy/Goal <br />Maintain a positive business climate where businesses want to locate and remain in mounds view. <br />Finance top redevelopment areas Industrial/Commercial/Residential. <br /> <br />Financial Impact <br />Funds are available for redevelopment purposes. <br /> <br />Recommendation <br />Staff recommends that the EDA approve Resolution 23-EDA-367, a resolution authorizing the <br />purchase of real property located at 2833 Mounds View Boulevard. <br /> <br />Respectfully submitted, <br /> <br /> ______________________ <br />Brian Beeman <br />Assistant City Administrator <br />Attachments(s): 1) 23-EDA-367, A Resolution Authorizing the Purchase of Real Property <br />2) Purchase Agreement