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HomeMy WebLinkAbout05-12-2008PROCEEDINGS OF THE MOUNDS VIEW EDA 1 CITY OF MOUNDS VIEW 2 RAMSEY COUNTY, MINNESOTA 3 4 Regular Meeting 5 May 12, 2008 6 Mounds View City Hall 7 2401 Highway 10, Mounds View, MN 55112 8 6:32 P.M. 9 10 11 1. CALL MEETING TO ORDER 12 13 2. ROLL CALL: President Marty, Vice President Stigney, Commissioner Hull, 14 Commissioner Flaherty, and Commissioner Mueller, and Acting Executive Director 15 Crane. 16 17 NOT PRESENT: None. 18 19 3. APPROVAL OF AGENDA 20 21 MOTION/SECOND: Mueller/Flaherty. To Approve the Monday, May 12, 2008 Agenda as 22 Presented. 23 24 Ayes - 5 Nays – 0 Motion carried. 25 26 4. PUBLIC INPUT 27 28 None. 29 30 5. APPROVAL OF MINUTES 31 32 A. February 11, 2008, EDA Minutes 33 34 Commissioner Mueller under reports, she attended with Economic Development Specialist 35 Steinmetz. 36 37 MOTION/SECOND: Mueller/Hull. To Approve the February 11, 2008 EDA Minutes as 38 Amended. 39 40 Ayes – 5 Nays – 0 Motion carried. 41 42 B. March 10, 2008 EDA Minutes 43 44 Commissioner Flaherty, Page 3, Line 98 should be Commissioner Flaherty. 45 Mounds View EDA May 12, 2008 Regular Meeting Page 2 46 Mayor Marty, Page 1, Item 3, check if the Agenda was amended. 47 48 MOTION/SECOND: Mueller/Marty. To Approve the March 10, 2008, EDA Minutes as 49 Amended. 50 51 Ayes – 5 Nays – 0 Motion carried. 52 53 6. CONSENT AGENDA 54 55 None. 56 57 7. EDA BUSINESS 58 59 A. Discuss Marketing Preferences for EDA-Owned Property Located at 2390 60 County Road 10. 61 62 Economic Development Specialist Steinmetz asked the EDA how aggressive Staff should be at 63 marketing 2390 County Road 10. The reason the question is asked, is because the agreement 64 with Master Development will be expiring and that leaves Staff to market the property. 65 66 Economic Development Specialist Steinmetz reviewed potential ways to market the property. 67 68 Commissioner Flaherty said he does not want to spend money for public relations but does want 69 to market this property aggressively. He then said that when the property was purchased in 2006, 70 Staff informed the EDA that the City would be made whole. The City should not buy property to 71 take a loss and he would prefer to leave the property as green space, if the City cannot be made 72 whole, until the market turns around. 73 74 Commissioner Flaherty said that he wants to market the property and get the value out of the 75 property otherwise he wants to sit on it. 76 77 President Marty indicated that he was under the impression that the City would be made whole 78 eventually, by putting something new on the site that will bring in taxes. 79 80 Economic Development Specialist Steinmetz indicted that the acquisition price was $625,000 81 and that is what the EDA paid. The current Ramsey County 2008 estimated market value is 82 $446,000. 83 84 Commissioner Mueller said that she thinks that there are people who travel down Highway 10 85 that would see that sign and the sign could bring in inquiries. She then recommended taking out 86 the acreage size and just put the telephone numbers for contact information. 87 Mounds View EDA May 12, 2008 Regular Meeting Page 3 88 Commissioner Hull would like to hold off and see how it goes. He then said that he would like 89 to bundle some of these properties together. 90 91 Vice President Stigney said that this is the wrong time to sell property if you do not have to. He 92 then said that he does not think that the sign will buy anything other than inquiries and the EDA 93 is discussing that this is not the time to sell in this market. 94 95 President Marty said that he likes Commissioner Mueller’s approach to get a sign on the 96 property. He then said that there are 20,000 to 25,000 cars passing through there each day and 97 that may generate a lead that would want to bundle some parcels together for redevelopment. 98 99 President Marty said that there are two locations (examples) in the staff report that sold for about 100 the assessed price and two other locations were sold for considerably lower amounts. He would 101 like the property look up information to be registered somewhere that this property has 102 redevelopment potential. President Marty asked whether this property is on metromsp.org. 103 Economic Development Specialist Steinmetz indicated that the property is already on 104 metromsp.org. 105 106 President Marty indicated that he would like to hold off until something comes together for the 107 whole area but be open to a good offer in the meantime that would fit the City’s vision. He then 108 said that he feels that the sign should be a minimal investment for the passive marketing. 109 110 Commissioner Flaherty said that he did not look at this as the whole area but approved the 111 purchase to remove a blighted property from the City. The prices that were laid out are so far 112 from what was spent that he would be willing to market the property, but he is not willing to lose 113 money on the deal. 114 115 President Marty indicated that he is not willing to settle for anything less than the assessed value. 116 117 Vice President Stigney said that right now values are down and he has no intention of selling for 118 the present value unless it would be a business that would increase the tax base immediately, and 119 that is not likely to happen. He further said that he wants the EDA and the City to be made 120 whole on the purchase price. 121 122 Economic Development Specialist Steinmetz indicated that Staff received an inquiry on the sales 123 price for the property. The interested party does not want to go public until the Agreement with 124 Master Development is expired, which is this Wednesday. She then said that it is a local 125 business that wants to expand. Staff did let the interested party know that the price is negotiable 126 but that was not good enough as they want a ballpark for what the City is interested in, or they 127 will come back with an offer based on comparable sales. 128 129 Mounds View EDA May 12, 2008 Regular Meeting Page 4 President Marty indicated that he would not entertain an offer of anything less than the assessed 130 value of $8.00 square foot. 131 132 Commissioner Hull said he would like to wait until the market turns around. 133 134 Vice President Stigney said that he would not wholesale the land and this is not the time to sell. 135 He then said that he would not agree to market the property at this value. 136 137 Commissioner Flaherty agreed with Hull and Stigney that this is not the time to sell. The City 138 has an investment in the property and he is looking at the figure that the City has paid for the 139 property and he is not interested in selling the property for a loss. 140 141 There was consensus not to take any action at this time. 142 143 Commissioner Mueller said she would like to see the sign installed at the site. 144 145 Vice president Stigney said he sees no point to the sign because those in the market are in the 146 market to purchase at low prices. 147 148 Economic Development Specialist Steinmetz indicated that staff received two quotes for signs 149 one was $250.00 without installation and the other was for $389.00 including installation. 150 151 Commissioner Flaherty said he could compromise on the sign. 152 153 President Marty asked Staff to bring back the quotes and the proofs at the next EDA meeting. 154 155 8. REPORTS 156 157 A. Expiration of Preliminary Development Agreement with Master 158 Development 159 160 Economic Development Specialist Steinmetz explained that the EDA entered into an Agreement 161 with Master Development on November 13, 2007, which expired in six months. Master 162 Development has not requested an extension. 163 164 9. NEXT EDA MEETING: Tuesday, May 27, 2008 at 6:30 p.m. 165 166 10. ADJOURNMENT 167 168 President Marty adjourned the meeting at 7:17 p.m. 169 170 Respectfully submitted, 171 Mounds View EDA May 12, 2008 Regular Meeting Page 5 Recorded and transcribed by: 172 Joan Lenzmeier, Recording Clerk. TimeSaver Off Site Secretarial, Inc. 173 174