HomeMy WebLinkAbout04-12-2021 EDACITY OF MOUNDS VIEW
ECONOMIC DEVELOPMENT AUTHORITY MEETING AGENDA
MOUNDS VIEW CITY HALL
Monday, April 12, 2021
6:30 p.m.
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1. CALL TO ORDER
2. ROLL CALL: President Mueller, Vice President Cermak, Commissioner Hull,
Commissioner Meehlhause, Commissioner Bergeron
3. APPROVAL OF AGENDA
4. CONSENT AGENDA
A. Approval of Minutes: March 22, 2021 Open
March 22, 2021 Closed
5. PUBLIC COMMENT
Citizens may speak to issues not on tonight’s agenda. Before speaking, please give your full
name and address for the minutes. Also, please limit your comments to three minutes.
6. EDA BUSINESS
A. Resolution 21-EDA-341 Approving A Preliminary Development Agreement With MWF
Properties, llc by the Mounds View Economic Development Authority
7. REPORTS None
8. NEXT EDA MEETING: April 26, 2021 at 6:30 p.m.
9. ADJOURNMENT
PROCEEDINGS OF THE MOUNDS VIEW EDA 1
CITY OF MOUNDS VIEW 2
RAMSEY COUNTY, MINNESOTA 3
4
Regular Meeting 5
March 22, 2021 6
Mounds View City Hall 7
2401 Mounds View Boulevard, Mounds View, MN 55112 8
9
10
1. CALL MEETING TO ORDER 11
12
President Mueller called the meeting to order at 7:23 p.m. Due to the COVID-19 pandemic this 13
meeting was held virtually. 14
15
2. ROLL CALL: President Mueller, Vice President Cermak, Commissioner Bergeron 16
Commissioner Hull, Commissioner Meehlhause, and Executive Director Zikmund. 17
18
NOT PRESENT: None. 19
20
3. APPROVAL OF AGENDA 21
22
MOTION/SECOND: Meehlhause/Bergeron. To Approve the March 22, 2021, Agenda as 23
presented. 24
25
A roll call vote was taken. 26
27
Ayes – 5 Nays – 0 Motion carried. 28
29
4. CONSENT AGENDA 30
31
A. Approval of Minutes: January 25, 2021 EDA Minutes 32
February 22, 2021 Closed EDA Minutes 33
March 8, 2021 Closed EDA Minutes 34
35
MOTION/SECOND: Bergeron/Hull. To Approve the Consent Agenda as presented. 36
37
A roll call vote was taken. 38
39
Ayes – 5 Nays – 0 Motion carried. 40
41
5. PUBLIC COMMENT 42
43
None. 44
45
Mounds View EDA March 22, 2021
Regular Meeting Page 2
6. EDA BUSINESS 1
2
A. Skyline Redevelopment Proposal Presentation – MWF Properties. 3
4
Assistant City Administrator Beeman stated the EDA owns 3.5 acres of land known as the 5
Skyline Redevelopment Area. He explained two developers were interested in purchasing this 6
property. However, the senior housing developer has backed out, which left MWF interested in 7
moving forward with their initial project. He reported MWF has several different options for the 8
northern side of this site. He reported MWF would like to go over these options with the EDA. 9
10
Chris Stokka, MWF Properties, provided the EDA with a presentation on his plans for the 11
Skyline site. He explained he has reengaged Bauer Welding in order to get their land under 12
contract. He anticipated he would have an LOI with Bauer in place later this week and a purchase 13
agreement in the next week or two. He indicated he was proposing to construct 96 family 14
workforce-housing units and 120 affordable senior apartments (55 or older). He reported there 15
was a shortage of affordable senior housing units in Minnesota. He anticipated the general layout 16
would be similar to the previous plans provided by MWF and Augusta. He commented further on 17
the affordable housing tax credits that he would be requesting from the State of Minnesota for 18
both of these projects. He stated he would be requesting a TIF note for this redevelopment. 19
20
Commissioner Meehlhause asked if Mr. Stokka was aware that a portion of the land would be 21
sold to BioClean. Mr. Stokka explained he was aware of this land sale. 22
23
Further discussion ensued regarding the income restrictions that would be in place for the 24
proposed affordable senior units. 25
26
President Mueller questioned what the timing of this project would be. Mr. Stokka indicated this 27
would be dependent upon the grants, noting there were two rounds each year. It was his hope that 28
one of the projects would be selected within each round. 29
30
President Mueller thanked MWF for the presentation on the Skyline Redevelopment project. 31
32
B. Review DRAFT Preliminary Development Agreement – MWF Properties. 33
34
Assistant City Administrator Beeman discussed the draft preliminary development agreement 35
with MWF Properties. He explained staff and the City Attorney has been working with MWF on 36
and off over the past year. He indicated this agreement would be considered at the April EDA 37
meeting. He noted the senior housing aspect was new and would be added to the agreement, 38
along with the purchase price for the property. He requested feedback from the EDA on the 39
agreement. 40
41
President Mueller reported this project would hinge on MWF receiving grants for this project. 42
Mounds View EDA March 22, 2021
Regular Meeting Page 3
She questioned if the EDA supported sitting on this project with the understanding it will not 1
move forward if the grants are not received. 2
3
Commissioner Hull stated he would support the project and waiting for the grants to be received. 4
5
Commissioner Cermak agreed. 6
7
Commissioner Meehlhause supported the EDA waiting as well and recommended staff continue 8
to work with MWF. 9
10
7. REPORTS 11
12
None. 13
14
8. NEXT EDA MEETING: Monday, April 12, 2021 at 6:30 p.m. 15
16
9. ADJOURNMENT 17
18
President Mueller adjourned the meeting at 7:50 p.m. 19
20
Respectfully submitted, 21
22
23
Recorded and transcribed by: 24
Heidi Guenther 25
Minute Maker Secretarial 26
PROCEEDINGS OF THE MOUNDS VIEW EDA 1
CITY OF MOUNDS VIEW 2
RAMSEY COUNTY, MINNESOTA 3
4
Special Closed EDA Meeting 5
March 22, 2021 6
Mounds View City Hall 7
2401 County Road 10, Mounds View, MN 55112 8
9
10
11
1. CALL MEETING TO ORDER 12
13
President Mueller called the meeting to order at 6:30 p.m. 14
15
2. ROLL CALL: President Mueller, Vice President Cermak, Commissioner Hull, 16
Commissioner Bergeron, Commissioner Meehlhause, Executive Director Zikmund, 17
Assistant City Administrator Beeman, Finance Director Beer, Community Development 18
Director Sevald, City Attorney Riggs. 19
20
NOT PRESENT: None. 21
22
OTHERS PRESENT: EDA Appraiser & Market Analysis Consultant, Julia Schwartz. 23
24
3. EDA BUSINESS 25
26
A. CLOSED SESSION – SKYLINE REDEVELOPMENT: Pursuant to 27
Minnesota Statues Sections 13D.05, subdivision 3(c) and 13.44, subdivision 3, 28
to conduct a closed EDA meeting concerning real property located at 29
addressed noted below to determine the asking price, to consider strategies 30
and to develop or consider offers or counteroffers for the sale of such real 31
property and to review confidential appraisal information for such real 32
property. 33
34
4889 & 4943 Old Highway 8 35
Mounds View, Minnesota 36
PINs: 17.30.23.14.0001 37
17.30.23.14.0002 38
17.30.23.14.0003 39
17.30.23.11.0004 40
41
Pursuant to Minnesota Statutes Sections 13D.05 subdivision 3(c) and 13.44, subdivision 3 the 42
EDA met in closed session to discuss Crossroad Pointe as identified in the above-referenced 43
notice at 3.A. 44
45
Mounds View EDA March 22, 2021
Special EDA Meeting Page 2
4. ADJOURNMENT 1
2
President Mueller adjourned the closed session meeting at 7:15 p.m. 3
4
Respectfully submitted, 5
6
7
Transcribed by: 8
Brian Beeman, Assistant City Administrator 9
10
Item No: 6A
Meeting Date: April 12, 2021
Type of Business: EDA
Administrator review: _______
City of Mounds View Staff Report
To: EDA President and Commissioners
From: Brian Beeman, Assistant City Administrator
Item Title/Subject: Resolution 21-EDA-341 A Resolution Approving a Preliminary Development
Agreement with MWF Properties, llc by the Mounds View Economic Development
Authority
Background
The EDA owns approximately 3.5 acres on four parcels at 4849 & 3943 Old Hwy 8 with partial undevelopable lands
including a small wetland area. MWF Properties is proposing to construct a development on the EDA property
otherwise known as the Skyline Redevelopment Area. At is March 22, 2021 meeting, the EDA authorized staff to
continue to cooperate with MWF Properties to complete a Preliminary Development Agreement.
City Attorney, Scott Riggs, staff, and MWF Properties have been working on a preliminary development agreement
and has come to a consensus, which also includes the sale price of the EDA property to the developer. The
preliminary development agreement is a document that will be included along with several other documents in
MWF’s Tax Credit application that has a June 2021 deadline.
Also, at is March 22, 2021 meeting, the EDA agreed to consider MWF’s proposal to construct both an affordable
apartment and senior housing project on the entire EDA site. Both proposals are contingent upon proper financing
mainly through Tax Credits, a Minnesota Management & Budget program, and a Housing TIF among other sources.
Discussion
The EDA to review and consider 21-EDA-341, A Resolution Approving a Preliminary Development Agreement
between the EDA and MWF Properties including the attached Preliminary Development Agreement and ask any
questions as necessary.
Steps in this process:
1) EDA to consider Preliminary Development Agreement
2) MWF to submit Tax Credit Application by June 2021 deadline
3) MWF to hear back from State of MN on Tax Credit status December 2021
4) EDA to consider Final Purchase & Development Agreement & Housing TIF Application
5) MWF to break ground on new project spring of 2022
Recommendation
Staff recommends that the EDA review and consider 21-EDA-341, A Resolution Approving a Preliminary
Development Agreement with MWF Properties, llc by the Mounds View EDA.
Respectfully submitted,
________________________
Brian Beeman
Assistant City Administrator
Attachment(s): 1) Resolution 21-EDA-341 & Preliminary Development Agreement with MWF Properties, llc
The Mounds View Vision
A Thriving Desirable Community
DOCSOPEN\MU205\52\713362.v1-4/7/21
EDA RESOLUTION 21-EDA-341
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION APPROVING A PRELIMINARY DEVELOPMENT AGREEMENT
WITH MWF PROPERTIES, LLC BY THE MOUNDS VIEW ECONOMIC
DEVELOPMENT AUTHORITY
WHEREAS, the Mounds View Economic Development Authority (“EDA”) owns or
controls certain land that comprises a portion of the Skyline Redevelopment Project Area
(the ”Project”); and
WHEREAS, MWF Properties, LLC, a Minnesota limited liability company (the
“Developer”) has requested that the EDA enter into a Preliminary Development Agreement
with it in order to provide the Developer with certain rights and obligations to facilitate the
redevelopment of the Project; and
WHEREAS, the EDA found and determined that entering into a Preliminary
Development Agreement with the Developer is in the public interest.
NOW, THEREFORE, BE IT RESOLVED by the Mounds View Economic
Development Authority (“EDA”) of the City of Mounds View, Minnesota as follows:
1. That the above-referenced recitals are incorporated into this Resolution.
2. The EDA approves the Preliminary Development Agreement, subject to
modifications that do not alter the substance of the transaction and that are
approved by the EDA Attorney, provided that execution of the Preliminary
Development Agreement shall be conclusive evidence of approval.
3. EDA staff and officials are authorized to take all actions necessary to perform the
EDA’s obligations under the Preliminary Development Agreement as a whole.
4. That the Preliminary Development Agreement, contained in Exhibit A of this
resolution is hereby approved, ratified, established, amended, and adopted and
shall be placed on file at City Hall.
Adopted this 12th day of April, 2021.
________________________________
Carol A. Mueller, President
ATTEST:
________________________________
Nyle Zikmund, Executive Director
(seal)
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EXHIBIT A
PRELIMINARY DEVELOPMENT AGREEMENT
MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
AND
MWF PROPERTIES, LLC
PRELIMINARY DEVELOPMENT AGREEMENT
THIS AGREEMENT, dated this 12th day of April, 2021 (the “Effective Date”), by and
between the Mounds View Economic Development Authority, a public body corporate and politic
under the laws of Minnesota (“EDA”) and MWF Properties, LLC, a Minnesota limited liability
company (“Developer”) or its assigns:
WITNESSETH:
WHEREAS, the EDA desires to promote development of certain property partially owned
by the EDA which is located at 4889 Old Highway 8, in the City of Mounds View, State of
Minnesota (“Project Area”), with the EDA-owned property being legally described and depicted
in Exhibit A attached hereto (“Property”); and
WHEREAS, Developer, or a special purpose entity to be formed by the Developer for the
purpose of completing this project, has submitted or is in the process of submitting a proposal for
development of an approximately 96-unit workforce housing complex at the Project Area and on
the Property (“Development”), which proposal is attached hereto as Exhibit B including a site plan
for the Development (“Site Plan”) which is attached hereto as Exhibit C; and
WHEREAS, the Development is part of a larger redevelopment of the Project Area, the
Property and adjacent parcels that are being subdivided together pursuant to the plat of SKYLINE
ADDITION (the “Plat”); and
WHEREAS, the Developer agrees to cooperate and work with the EDA and multiple
adjacent present and future parcel owners in developing and effectuating the Plat and creation of
multiple developable parcels, as well as redefining lot lines of adjacent parcels, as further defined
in Section 10; and
WHEREAS, the Development shall occur on the Property located at 4889 Old Highway 8
for which the Developer shall pay the EDA the purchase price of $1,550,000; and
WHEREAS, the EDA and Developer are interested in discussing and further planning for
the Developer’s proposal for the Development; and
WHEREAS, the Developer has indicated that it may seek business subsidy assistance or
financial incentives from the City and/or the EDA to make the Development feasible; and
WHEREAS, the EDA will need to determine if various studies, as may be determined to
be reasonably necessary, should be conducted, including without limitation an environmental
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impact or related study, an infrastructure feasibility study, an economic impact study, and any
other studies which are either required by law or deemed appropriate by the EDA and/or City; and
WHEREAS, the EDA will continue to discuss and negotiate with the Developer regarding
the overall development of the Property and Project Area; and
WHEREAS, the EDA is willing to discuss with the Developer any public subsidies which
may be available for the Development, however, nothing herein shall be interpreted as an approval
or guarantee of any future public financial assistance, including but not limited to tax increment
financing, tax abatement, business subsidies, or any other public assistance authorized by law; and
WHEREAS, various ordinance, land use, zoning, and subdivision issues and actions related
to the Development and the Property and Project Area are required to be approved by the City in
order to facilitate the Development by the Developer; and
WHEREAS, the EDA agrees to cooperate with the Developer to review and to assist the
Developer, where deemed appropriate by the EDA, with obtaining various ordinance, land use,
zoning, and subdivision approvals and actions related to the Development and the Property and
Project Area in order to facilitate the Development by the Developer, provided that nothing herein
shall be interpreted as an approval or guarantee of any future land use, zoning, or other required
City approvals; and
WHEREAS, the EDA is willing to consider and the Developer is desirous to undertake the
Development if (i) a satisfactory agreement can be reached regarding the EDA’s commitment for
public costs, if any, necessary for the Development; (ii) satisfactory mortgage and equity
financing, or adequate cash resources for the Development can be secured by Developer; and (iii)
the feasibility and soundness of the Development and other necessary preconditions have been
determined to the satisfaction of the parties.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
obligations set forth herein, the parties agree as follows:
1. Future Negotiations.
The parties agree to continue negotiations pursuant to the terms of this Agreement in an
attempt to formulate a definitive plan for a development agreement based on the following:
(a) Developer’s proposal, including the purchase price of $1,550,000 to be paid
by the Developer to the EDA for the Property which shows the scope of the proposed
Development in its latest form as of the date of this Agreement, together with any changes
or modifications required by the City or the EDA;
(b) Mutually-satisfactory development agreements or contracts to be negotiated
and agreed upon in accordance with negotiations contemplated by this Agreement;
(c) Mutually satisfactory terms that may be required for the Development (e.g.
access and utility easements, allocation of infrastructure costs, etc.); and
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(d) Other terms and conditions of this Agreement.
2. Statement of Intent.
Although not conclusive or binding on either party, it is the intention of the parties that this
Agreement: (a) documents the present understanding and commitments of the parties; and (b) will
lead to the negotiation and execution of a mutually-satisfactory development agreement or contract
prior to the termination date of this Agreement. The development agreement (together with any
other agreements entered into between the parties hereto contemporaneously therewith) will
supersede all obligations of the parties hereunder.
3. Duties.
(a) During the term of this Agreement, the EDA agrees to:
(i) Proceed to seek all necessary information with regard to the
anticipated public costs, if any, associated with the Development; and
(ii) Should negotiations be successful, enter into a purchase and
development agreement, satisfactory to the EDA in its sole discretion, with the Developer
for the Development.
(b) During the term of this Agreement, the Developer agrees to:
(i) Develop and submit its detailed proposal, including the plans and
specifications, for purchase and development of the Property and the Project Area;
(ii) Conduct a due diligence review of the Property and the Project Area
included in the Development, including without limitation, which must be acceptable to
the Developer in its sole discretion: title, survey, environmental (Phase I & Phase II
reports), soils, and market studies;
(iii) Obtain approval by the EDA and the City (including its Engineer,
Planning and Inspection Department, and any other governing authority) for approval of
the site plan, exterior elevations and finishes, and zoning approval;
(iv) Obtain any other necessary governmental approval from any
governing authority;
(v) Obtain financing on terms acceptable to Developer, including but
not limited to public subsidies (such as pay-as-you -go TIF in a mutually agreeable amount,
and housing tax credits), private loans, or equity investment(s); and
(vi) Should negotiations be successful, enter into a purchase and
development agreement with the EDA for the Development.
4. Developer Submissions; Business Subsidies; TIF; Housing Tax Credits.
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(a) The EDA understands that the Developer may be seeking business subsidy
assistance from the City and/or the EDA. During the term of this Agreement, Developer
shall:
(i) Submit to the EDA a design proposal to be reviewed by the EDA
showing the location, size, and nature of the proposed Development, including layouts,
renderings, elevations, and other graphic or written explanations of the Development. The
design proposal shall be accompanied by a proposed schedule for the starting and
completion of the Development;
(ii) Submit an over-all cost estimate for the design and construction of
the Development;
(iii) Submit a time schedule for the Development;
(iv) Undertake and obtain such other preliminary economic feasibility
studies, income and expense projections, and such other economic information as
Developer may desire to further confirm the economic feasibility and soundness of the
Development;
(v) Submit to the EDA the Developer’s financing plan showing that the
proposed Development is financially feasible;
(vi) Furnish satisfactory financial data to the EDA evidencing
Developer’s ability to undertake the Development; and
(vii) Furnish information in its possession and assist the EDA with
obtaining all available business subsidy assistance which the EDA may deem appropriate.
(b) Developer understands that the Tax Increment Financing sought for the
proposed Development must be obtained as outlined by law.
(c) Developer understands that the Housing Tax Credits sought for the
proposed Development must be obtained as outlined by law.
5. Feasibility.
It is expressly understood that execution and implementation of any purchase and
development agreement (together with any other agreements entered into between the parties
hereto contemporaneously therewith) shall be subject to:
(a) A determination by the EDA in its sole discretion that its undertakings are
feasible based on (i) satisfaction of City Code requirements; (ii) the purposes and objectives
of any development plan created or proposed for the Development; (iii) the Studies, if any;
and (iv) the best interests of the EDA.
(b) A determination by Developer that the Development is feasible and in the
best interests of Developer.
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6. Effective Date; Term; Expiration.
This Agreement is effective from the Effective Date until December 31, 2022. After such
date, neither party shall have any obligation hereunder except as expressly set forth to the contrary
herein. The parties may mutually extend the term of this Agreement for one (1) year, until
December 31, 2023, in writing and prior to December 31, 2022.
7. Costs; Escrow.
Developer shall be solely responsible for all costs incurred by Developer. In addition, upon
the full execution of this Agreement the Developer will pay the EDA an initial non-refundable
sum of $25,000.00 as reimbursement of its Administrative Costs (as defined below) for its
evaluation of the Developer’s proposal. For the purposes of this Agreement, the term
“Administrative Costs” means out of pocket costs incurred by EDA together with staff and
consultant (including engineering, legal, financial adviser, environmental advisor, planning
advisor, etc.) costs of EDA, all attributable to or incurred in connection with the review of the
development agreement or contracts (together with any other agreements entered into between the
parties hereto contemporaneously therewith) and review and approvals of any land use, zoning
and subdivision applications for the Property and Project Area, the negotiation and preparation of
this Agreement, and other documents and agreements in connection with the Development,
excluding Studies that result in the Administrative Costs exceeding the initial $25,000.00 deposit,
unless such excess costs are approved by the Developer as provided below. Developer
acknowledges that the Developer’s proposal will require review by and/or consultation with the
EDA’s financial advisors, engineers, legal advisors, and other advisors or consultants and staff.
Additionally, the EDA may incur expenses of advisors, consultants and staff related to the
preparation of the development agreement for said Development. If at any time after full execution
and acceptance of this Agreement, the EDA determines that the amount deposited by Developer
will be insufficient to pay the EDA’s fees and expenses listed above, the EDA may notify the
Developer in writing as to any additional amount required to be deposited. The Developer must
deposit such additional funds within 10 business days after receipt of the EDA’s notice. Any
additional funds beyond the initial non-refundable $25,000 deposited by Developer and not
expended by the EDA for its Administrative Costs will be returned to the Developer on the Closing
Date. Any public subsidies applied for by the Developer will require separate application fees and
deposits from the fees stated in this Agreement as it pertains to the appropriate public subsidy
application. The foregoing funds will not be credited towards the purchase price or returned if the
transaction does not close. This Section 7 shall survive termination of this Agreement and shall
be binding on the Developer and the EDA regardless of the enforceability of any other provision
of this Agreement.
8. Termination.
This Agreement may be terminated if Developer ceases to negotiate in good faith with the
EDA, and such failure to negotiate in good faith is not cured after 30 days written notice of such
failure by EDA to Developer.
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9. Sole Developer.
The Developer is designated as sole developer and shall have exclusive rights of the
Development of the Property through the entire term of this Agreement. The EDA agrees not to
market the Property or to make, accept, negotiate, or otherwise pursue any other offers for sale or
purchase of the Property until the term of this Agreement expires or the Agreement is terminated
pursuant to Section 8 herein.
10. Adjacent Business Development and Subdivision of Property and Project Area.
Notwithstanding anything herein to the contrary, the Developer agrees to cooperate and work
with the EDA and multiple adjacent present and future parcel owners in developing and effectuating
the Plat and creation of multiple developable parcels, as well as redefining lot lines of adjacent parcels.
Further, the Developer agrees to coordinate and share costs related to the Plat, to develop appropriate
parcels for both future and existing development, cooperate in site plan, environmental, utility access
related to the development of the Plat. The Developer shall enter into a separate agreement with the
EDA and present and future parcel owners affected by the Plat, to ensure the coordinated efforts of
all parties associated with developing the Plat.
11. Severability.
If any portion of this Agreement is held invalid by a court of competent jurisdiction, such
decision shall not affect the validity of any remaining portion of the Agreement.
12. Breach; Waiver.
In the event any covenant contained in this Agreement should be breached by one party and
subsequently waived by another party, such waiver shall be limited to the particular breach so waived
and shall not be deemed to waive any other concurrent, previous, or subsequent breach.
13. Notice.
Notice or demand or other communication between or among the parties shall be
sufficiently given if sent by mail, postage prepaid, return receipt requested or delivered personally:
(a) As to EDA: Mounds View Economic Development Authority
2401 Mounds View Boulevard
Mounds View, MN 55112
Attn: Executive Director
(b) As to Developer:
MWF Properties, LLC
7645 Lyndale Avenue South
Minneapolis, MN 55423
Attn: Chris Stokka
14. Counterparts.
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This Agreement may be executed simultaneously in any number of counterparts, all of
which shall constitute one and the same instrument.
15. Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the
state of Minnesota. Any disputes, controversies, or claims arising out of this Agreement shall be
heard in the state or federal courts of Minnesota, and all parties to this Agreement waive any
objection to the jurisdiction of these courts, whether based on convenience or otherwise.
16. Additional Actions.
The parties hereto understand that additional and separate actions, for which no obligation
is created hereunder, will be required before either the EDA or Developer is obligated to take
various actions with respect to the Development. Those actions include, but are not limited to:
(a) Zoning, comprehensive plan, and subdivision approvals for any land use or
development proposed by Developer; and
(b) Review of any Tax Increment Financing arrangement, or other business
subsidy, as required by law.
17. Incorporation.
The Recitals set forth in the preamble to this Agreement and the Exhibits attached to this
Agreement are incorporated into this Agreement as if fully set forth herein.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
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IN WITNESS WHEREOF, the Developer has caused this Agreement to be duly executed
in its name and behalf and the EDA has caused this Agreement to be duly executed in its name
and behalf as of the day and year first above written.
DEVELOPER:
MWF PROPERTIES, LLC, a Minnesota limited
liability company
By:
Chris Stokka
Its:
EDA:
MOUNDS VIEW ECONOMIC DEVELOPMENT
AUTHORITY
By:
Carol Mueller
Its: President
By:
Nyle Zikmund
Its: Executive Director
A-1
MU205\52\637644.v8
EXHIBIT A
DESCRIPTION/DEPICTION OF EDA PROPERTY
The EDA Property located at 4889 Old Highway 8, Mounds View, Minnesota, as described and
depicted below.
That part of the East 516.12 feet of the Northeast Quarter of the Northeast Quarter of Section 17,
Township 30 North, Range 23 West, described as follows:
Commencing at the Southeast comer of said Northeast Quarter of the Northeast
Quarter; thence South 89 degrees 57 minutes 36 seconds West, along the south line
of said Northeast Quarter of the Northeast Quarter, a distance of 385.00 feet to the
point of beginning of the parcel to be described; thence North 09 degrees 23
minutes 42 seconds West a distance of 203.69 feet; thence North 15 degrees 25
minutes 51 seconds West a distance of 96.73 feet; thence South 89 degrees 57
minutes 36 seconds West, parallel with the south line of said Northeast Quarter of
the Northeast Quarter, a distance of 75.28 feet to the west line of said East 516.12
feet of the Northeast Quarter of the Northeast Quarter; thence South 00 degrees 36
minutes 26 seconds East, along said west line, a distance of 294.26 feet to the south
line of said Northeast Quarter of the Northeast Quarter; thence North 89 degrees 57
minutes 36 seconds East, along said south line, a distance of 131.15 feet to the point
of beginning; EXCEPT the north 12 feet thereof, Ramsey County, Minnesota.
AND:
A strip of land 130 feet wide measured at right angles Southwesterly of and adjacent to, a line
running Southeasterly from a point on the North fine of the Southeast 1/4 of the Northeast 1/4 of
Section 17, Township 30, Range 23, and 385 feet from the East line of said Section 17, to a point
on the South line of the North 1/2 of the Southeast 1/4 of the Northeast 1/4 of said Section 17 and
250 feet from the East line of said Section 17, and measuring 132.94 feet on the North line of said
Southeast 1/4 of Northeast 1/4 and 132.92 feet on the South line of said North 1/2 of the Southeast
1/4 of the Northeast 1/4, excepting the North 75 feet and the South 75 feet of said tract.
AND:
All that part of the South 175 feet of the North 1/2 of the Southeast 1/4 of the Northeast 1/4 of
Section 17, Township 30 North, Range 23 West, Ramsey County, Minnesota, lying Northeasterly
of a line run from a point on the North line of said North 1/2, 558.78 feet West from the Northeast
corner thereof to a point on the South line of said North 1/2, 504.33 feet West of the Southeast
corner thereof and lying Southwesterly of a line run from a point on the North line of said North
1/2, 385 feet West from the Northeast comer thereof to a point on the South line of said North 1/2,
250-feet West from the Southeast corner thereof, said line being the Southwesterly right-of-way
line of S.T.H. #8, except therefrom all that part of the Northeasterly 130 feet measured at right
angles from said right-of-way line thereof lying North of the South 75 feet of said North 1/2 and
except therefrom the South 30 feet of said North 1/2, subject to S.T.H. #8.
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AND:
All that part of the North 1/2 of the Southeast 1/4 of the Northeast 1/4 of Section 17, Township 30
North, Range 23 West, Ramsey County, Minnesota, lying Northeasterly of a line run from a point
on the North line of said North 1/2, 558.78 feet West of the Northeast corner thereof to a point on
the South line of said North 1/2, 504.33 feet West of the Southeast corner thereof, and lying
Southwesterly of a line run from a point on the North line of said North 1/2, 385 feet West from
the Northeast comer thereof to a point on the South line of said North 1/2, 250 feet West from the
Southeast corner thereof, said line being the Southwesterly right-of-way line of S.T.H. #8, except
therefrom all that part lying in the South 175 feet of said North 1/2 and also excepting therefrom
all that part of the Northeasterly 130 feet measured at right angles to said right-of-way line, lying
South of the North 75 feet of said North 1/2, subject to S.T.H. #8.
AND:
That part of the South 33 feet of the North ½ of the Southeast ¼ of the Northeast ¼ of Section 17,
Township 30, Range 23, Ramsey County, Minnesota, lying East of Lot 4, Block 1, Mounds View
Industrial Park, subject to highway.
EXCEPT:
That part of the south 45.00 feet of the North Half of the Southeast Quarter of the Northeast Quarter
of Section 17, Township 30, Range 23, Ramsey County, Minnesota, lying east of Lot 4, Block 1,
MOUNDS VIEW INDUSTRIAL PARK, according to the recorded plat thereof, and lying west of
the northwesterly extension of the east line of Lot 5 of said Block 1.
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EXHIBIT B
DEVELOPMENT PROPOSAL
96 Unit multifamily workforce housing
Four story building with underground parking
Two stalls per unit. Eighty stalls underground.
Estimated SF of building
25,870 SF footprint
129,350 SF total including underground parking
Mix of one, two, and three bedroom units
Site area would be 3.12 acres
2.27 Acres of Bauer Property
.85 acres of City (Skyline) property
Approximately 120 affordable senior apartments
Four story building with underground parking
Current thinking is layout would remain similar to the previous proposal
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EXHIBIT C
SITE PLAN