HomeMy WebLinkAboutEDA Resolution 07-EDA-237EDA RESOLUTION NO. 07-EDA-237
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING THE PRELIMINARY DEVELOPMENT AGREEMENT OF
THE PREMIUM STOP PROPERTY WITH MASTER DEVELOPMENT
WHEREAS, the parcel located at 2390 County Road 10, at the intersection of
County Road H2 and Co. Road 10, was a nuisance and blighted property on the City's
main commercial corridor; and,
WHEREAS, the Mounds View Economic Development Authority (EDA) acquired the
irregularly-shaped site formerly known as the Premium Stop gas station and convenience
store in September 2006; and,
WHEREAS, the EDA intends to facilitate the commercial redevelopment of this 1.28
acre parcel; and,
WHEREAS, on May 14, 2007, the EDA authorized the preparation and distribution
of a Request For Qualifications (RFQ) to metro area developers and redevelopment
entities based on the DSU /Bonestroo prepared planning study for the project area; and,
WHEREAS, Master Development, located in Minneapolis, submitted a response
deemed acceptable by staff; and,
WHEREAS, Master Development has demonstrated an ability to facilitate the
redevelopment of the Premium Stop site and the willingness to coordinate the development
with adjoining properties to maximize the scope of the redevelopment footprint; and,
WHEREAS, in an effort to formalize responsibilities and expectations, the Mounds
View Economic Development Authority desires to enter into six-month exclusive
preliminary development agreement with Master Development in furtherance of the
expressed redevelopment vision for this area.
NOW, THEREFORE BE IT RESOLVED THAT the Mounds View Economic
Development Authority does hereby approve the attached preliminary development
agreement and directs the President and Executive Director to execute the agreement on
behalf of the authority.
Adopted this 13t"day of November, 2007 by the
Mounds V~ Economic Development Authority
(ATTEST)
Rob A71arty, President
James Ericson, Interim Executive Director