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TO: MAYOR AND CITY COUN I JiJ 7 <br />FROM: CLERK -ADMINISTRATOR / / Cy <br />DATE: AUGUST 11, 1989 (�\ <br />SUBJECT: MOUNDS VIEW BUSINESS PARK BUILDING D ASSESSMENT <br />AGREEMENT <br />Attached please find a copy of the Assessment Agreement for <br />Building D in Mounds View Business Park providing for a <br />minimum market value of $1,875,100. <br />With this Assessment Agreement, the market value for all <br />completed buildings in the Business Park has been <br />established at $18,625,100 with the expected market value <br />for the Taco Bell and Kentucky Fried Chicken facilities <br />being $875,000. The total minimum market value for the <br />project is expected to reach $13,500,100. This compares <br />favorably to the minimum market value guaranteed in the <br />Contract for Private Redevelopment of $19,500,067. <br />r would like to point out that these are minimum market <br />value numbers and that, in most cases, once the building has <br />been completed with lease holder improvements the taxable <br />market value certified by the County Auditor is exceeding <br />the minimum market values agreed to in the Assessment <br />Agreements and Contract for Private Redevelopment. >... <br />Staff would request Council authorize Mayor and Clerk - <br />Administrator to enter into Assessment Agreement for <br />Building D in Mounds View Business Park reflecting a minimum <br />market value of $1,875,100. <br />DFP/MJS <br />L,J <br />