Minutes - 2005/07/11 - Laserfiche WebLink

Home Browse Search

Mounds View City Council July 11, 2005 Regular Meeting Page 19 because he kept the Council on the straight and narrow in many instances, however, as a • businessperson he needs more education. Council Member Stigney asked for a call to order, he does not need an education from Duane McCarty on how to run a business. Mr. McCarty stated that if he were running a business his mind would not be locked in on the simple day to day income and outgo, he would include in the business rolling stock, inventory and real estate assets. He agreed that it would be 2017 before everything that catches up adding that if they were to calculate the value of the property and include that calculation into the total value of the operations of the property it would be worth over $16 million within the next twenty years if you were to add a simple 3-percent growth. He stated that they know very well it would be much more than that. He apologized to the Mayor stating that he did not mean to upset the Council or hurt Council Member Stigney's feelings. He explained that the Council has to get beyond simple sales, income and costs adding that they need to include all assets. He stated that the asset they are giving up for the Medtronic deal is a whale of an asset in terms of future value of that property. He stated that to think that that property was appraised at $10 million and the City is selling it for $8.6 based on one or two appraisals and three appraisals are the norm. He stated that this is why people are concerned. He stated that he believes the Council is trying to do their best but somehow they have found themselves in a corner and he fears for the way this is going to turn out. Council Member Stigney referenced the future use of the golf course noting that the City has an 18-month timeframe to sell or develop noting that after 18-months it is all gone. He stated that maybe by 2017 they might have the wear withal to go back to the Legislature and get it all changed again, noting that he does not believe that would happen. Mayor Marty clarified that the 18-months is on the MnDOT property and the driving range is 13- acres adding that the City does have property in the area that is not controlled under the MnDOT covenants. Council Member Stigney clarified that Mr. McCarty believes that the City should hang on to the golf course and piece meal it out in the long-term and he does not agree with that. Council Member Thomas asked the Council to get back to the agenda item addressing the Comprehensive Plan Land Use Amendment. Ms. Haake stated that she did calculate out the value of the property in terms of $35,000 an acre, over 25-years at 5-percent increase, it would be worth $57,568 million. Mayor Marty stated that it was pointed out that the Planning Commission made a unanimous decision on February 2, 2005 and since February more information has come in and the Council did not have much information until approximately three weeks ago. He stated that he was approached by several of the Planning Commissioners expressing their concerns on this issue. • He stated that they explained that what they reviewed in February is not what they envisioned at