Laserfiche WebLink
<br />Item No: 08.A <br />Meeting Date: November 21, 2024 <br />Type of Business: EDC BUSINESS <br />Administrator Review: ____ <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 <br />installation, and primary roadways on the site. This work was slated to be completed in 2019. <br />Initially, the first phase of housing and early commercial construction was expected to begin in <br />2020 and when fully realized, the mixed-use development was expected to offer 1,460 housing <br />units, support at least 4,000 living-wage jobs, and generate approximately $8.6 million in property <br />taxes annually. As of November 2024, all construction is still on hold. At the November 1, 2023 <br />open house, the developer is proposing additional density. However, there is still a $25 Million gap in <br />financing the infrastructure on Ramsey County’s portion. In a perfect world, master development <br />agreement discussion will begin January 2024 with the goal of having a final agreement in 2024. <br />For more information: https://www.cityofardenhills.org/AgendaCenter/ViewFile/Agenda/ <br />09272023-1166 <br />B. Mounds View Business Council Meeting <br />The next meeting will be held at the MV Event Center Wednesday December 19, 2024 from <br />8:00- 9:00 a.m. All meetings are free and all EDC Members are encouraged to attend. The <br />featured speaker is TBD. <br /> <br />C. Long Lake Woods <br />Marty Harsted is moving forward in creating 12 new single-family residential lots. He would <br />like to break ground in the spring of 2025. He apparently has about four homes that would be <br />built right away once the development has been completed. <br />D. Tom Fields Estate <br />A developer had planned to purchase three lots from Tom Fields located across from Lambert <br />Park to construct three assisted living homes, however Mr. Fields has delayed the project. <br />Therefore, the developer has backed out of the project. Three more developers have inquired <br />about these lots, however the asking price is too high and they have backed out as well. This <br />project is on hold until the land owners agree to move forward. <br />The Mounds View Vision <br />A Thriving Desirable Community <br />Reports of Staff <br />November 21, 2024 <br />Page 2 of 2 <br /> <br /> <br />