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Mounds View EDA September 22, 2025 <br />Regular Meeting Page 3 <br /> <br />Executive Director Zikmund stated the City would be receiving $190,000 in LAHA per year and <br />it was staff’s hope the EDA would be targeting natural occurring affordable housing and mobile <br />home parks in the community with the LAHA funding. He anticipated some of the loans would be <br />forgivable and some would be paid back. He indicated this program would ebb and flow with the <br />economy and the needs of the community. <br /> <br />Mark Londoney, Loan Servicing Manager for Center for Energy and Environment (CEE), <br />discussed how he works to collect on the loans that are created. He provided a summary of the <br />loans that have been issued since 2020 and commented on how money has been moving in and out <br />of the City’s account. He described how there was a growing need for affordable housing in the <br />community and how the City’s programs could evolve to help the community. <br /> <br />President Meehlhause thanked the CEE representatives for their thorough presentations to the <br />EDA. <br /> <br />B. Resolution 25-EDA-378, a Resolution Approving a Sixth Amendment to the <br />Loan Origination Agreement with the Center for Energy and Environment. <br /> <br />Assistant City Administrator Beeman requested the Council approve a sixth amendment to the <br />Loan Origination Agreement with the Center for Energy and Environment. He explained this <br />agreement was renewed annually in order to allow the EDA to review the programs that were in <br />place. Staff commented further on the amendment, noting two loan programs would be eliminated <br />and everything else would remain the same. <br /> <br />MOTION/SECOND: Clark/Smith. To Waive the Reading and Adopt Resolution 25-EDA-378, a <br />Resolution Approving a Sixth Amendment to the Loan Origination Agreement with the Center for <br />Energy and Environment. <br /> <br /> Ayes – 4 Nays – 0 Motion carried. <br /> <br />C. Redevelopment Update for 2840 Mounds View Boulevard & 7861 Groveland <br />Road. <br /> <br />Assistant City Administrator Beeman provided the EDA with an update on the properties at 2840 <br />Mounds View Boulevard and 7861 Groveland Road. He explained the EDA owns one of these <br />properties and was cooperating with a private developer to allow for a potential development to <br />move forward. He indicated the developer would like to address the EDA to further discuss this <br />project. <br /> <br />Mike Pearson, Pearson Group, introduced himself to the EDA and reported the best way to move <br />these properties forward was to tear down the existing building and rebuild. He reviewed the <br />proposed site layout and discussed the challenges he was facing with the redevelopment of this <br />property. He indicated he was proposing to build a 4,700 square foot building with a drive thru. <br />He anticipated the building would have two or three tenants. He commented on the easement south