Agenda Packets - 1986/11/03 - Laserfiche WebLink

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DEVELOPMENT PROPOSAL SUMMARY By: JLN Development, Inc. (Developer) 2055 North Rice Street St. Paul, MN 55113 To: City of Mounds View (City) Project: Office and Warehouse/Manufacturing facility Site: Approximately 10 acres, located at 4807 Mustang Circle in the Mounds View Industrial Park #3 (See attached plat map). DESCRIPTION OF PROPOSED DEVELOP14EIlT The Developer proposes the development of a 40,700 square foot office and warehouse/manufacturing facility at the above -mentioned location. The project will also include an auxiliary storage building of approximately 5,000 square feet and ninety (90) parking stalls. The site is approximately 10 acres in size, however, the project will utilize less than 3 acres of developable area. The remainder of the site consists of wetlands and peat -type soils. The Developer expects that the facility will be utilized as a corporate headquarters and manufacturing/warehousing facility by a single tenant or ow::(jr. The proposed development is snore specifically described and depicted in the site and building plans submitted in connection with this summary. CITY APPROVALS AND ASSISTANCE The Mounds View Planning Commission recommended approval of the development at its meeting of June 4, 1986 (Planning case #192-86), but City Council consideration of the proposed development was subsequently postponed at the request of the Developer. The Developer will seek site plan and special use permit approval from the City Council in the near future. In addition, and as an essential part of the development of the property, the Developer will seek tax increment financing from the City in the sum of $400,000.00. The tax increment financing would be based upon an agreed tax valuation for the improvements to the property in the range of $1,750,000.00. The Developer feels that tax increment