HomeMy WebLinkAbout07-09-2018
CITY OF MOUNDS VIEW
ECONOMIC DEVELOPMENT AUTHORITY MEETING AGENDA
MOUNDS VIEW CITY HALL
Monday, July 9, 2018
5:30 p.m. to 6:30 p.m. and if needed, immediately following conclusion of Council
Meeting
EXECUTIVE SESSION
NOTE – MEETING MAY RESUME AFTER CONCLUSION OF COUNCIL MEETING
1. CALL TO ORDER
2. ROLL CALL: President Mueller, Vice President Gunn, Commissioner Hull,
Commissioner Meehlhause, Commissioner Bergeron
3. EDA BUSINESS
A. Crossroad Pointe, closed meeting, negotiation of land sale price
4. NEXT EDA MEETING: Monday, July 23, 2018 at 6:00 pm
5. ADJOURNMENT
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M EMORANDUM
To: Mounds View EDA
From: Jon Sevald, City Planner/Supervisor
Brian Beeman, Business Development Coordinator
Re: July 9, 2018 EDA meeting (Closed); Crossroad Pointe
Date: July 9, 2018
This memo is intended to create a starting point for the EDA’s discussion of setting a selling price range
for Crossroad Pointe.
Talking Points:
1. The EDA purchased the three properties for about $1.6 million, and spent about $150,000 on
demolition and legal fees (total: $1,808,542.81).
2. The Ramsey County current (2018) assessed property value is:
$ 535,800 2.05 acres 2400 Mounds View Blvd PID: 08-30-23-31-0005
$ 149,300 0.48 acres 2394 Mounds View Blvd PID: 08-30-23-31-0071
$ 390,300 1.28 acres 2390 Mounds View Blvd PID: 08-30-23-31-0072
$1,075,400 3.81 acres
3. During the August 21, 2017 City Council Work Session, the Council considered proposals from:
(1) Dominium, (2) Global/Kraus-Anderson; and (3) INH Properties/Heartland Gun Club & Range.
The Council’s consensus was INH Properties/Heartland Gun Club & Range (1-1-3 vote).
4. The EDA entered into a Preliminary Development Agreement with INH Property Management
(Resolution 18-EDA-303). The project is to include: (1) 124-unit apartment building; (2) 15,000
– 20,000 sq ft Heartland Gun Club & Range; and (3) 3,000 – 5,000 sq ft retail. The project is to
be completed by Dec 31, 2020. This Agreement calls for the EDA and INH to negotiate a
Development Agreement, prior to its expiration (Jan 8, 2019), and for both parties to complete due
diligence.
5. The City Council considered an Ordinance Amendment (Ordinance 939) on Feb 26, 2018, which
would (1) update language to be consistent with MN Statutes; and (2) allow an indoor shooting
range within City Limits. The second part of the amendment was not approved, hence, the
Heartland proposal was removed from the project.
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6. During the June 6, 2018 City Council Work Session, the Council considered two options by INH;
(1) 135-unit apartment building; or (2) 63-unit apartment building and Kwik Trip gas/convenience
store. INH’s presentation included a suggested land purchase price of $225,000 for Option 1, or
$750,000 for Option 2, and that no Tax Increment Financing (TIF) would be requested.
The Council directed Staff and the developer to conduct a Neighborhood meeting, prior the
Council consenting to Option 1 or Option 2. A Neighborhood meeting was held on June 27, 2018.
7. The City Council considered Option 1 and Option 2 at its July 2, 2018 Work Session, deciding
that further discussion of the land sale price would occur at an EDA closed session on July 9,
2018.
EDA Action Requested:
Staff requests that the EDA determine: (1) an acceptable land sale price range, and (2) the absolute lowest
land sale price.
If the EDA is not comfortable at this time, Staff recommends that an appraisal be completed for Option 1,
Option 2, and the highest & best use. Appraisals should be conducted by two independent appraisers, at a
total cost of $5,000 - $10,000. This would take 3-4 weeks.
Any EDA/Council decision to direct INH to pursue Option 1 (all apartments) or Option 2 (apartments &
Kwik Trip) must occur during an open meeting.
ATACHMENTS
Crossroads Pointe Costs