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The Mounds View Vision A Thriving Desirable Community Item #: 8A Meeting Date: January 18, 2024 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. 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. 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 and they are nearing an agreement. As of November 2022, all construction is still on hold. At the November 1, 2023 open house, the developer is proposing additional density. The Arden Hills City Council did direct Staff to bring the necessary code amendments through, which will happen in December 2023. In a perfect world, master development agreement discussion will begin January 2024 with the goal of having a final agreement in 2024. For more information: https://www.cityofardenhills.org/AgendaCenter/ViewFile/Agenda/_09272023-1166 B. Mounds View Business Council Meeting The next meeting will be held at Dalco Enterprises, Inc. in New Brighton Wednesday March 21, 2024 from 8:00-9:00 a.m. The Twin Cities North Chamber of Commerce has combined Mounds View with New Brighton into one Business Council. All meetings are free and all EDC Members are encouraged to attend. The featured speaker is from the MN Retailers Association and will be providing an update on the retail industry as well as the new cannabis law updates for municipalities. C. Long Lake Woods Marty Harsted is moving forward in creating 12 new single-family residential lots. He would like to break ground in 2024. He apparently has about four homes that would be built right away once the development has been completed. D. 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. Therefore, the developer has backed out of the project. Several more developers have inquired about these lots, however the asking price is too high and they have backed out as well. This project is on hold until the land owners agree to move forward. E. Simon’s Building The Simon’s property has been purchased by Sabry Shrara, the owner of Mounds View dentistry. He initially, wanted to construct a new professional building consisting of a new dental office and two additional suites to be leased to a future tenant with apartments on the upper levels. However, he couldn’t get lending for that type of use, so he is reevaluating and the project is on hold until he can get his current dental office build out completed near the movie theater.