Laserfiche WebLink
EDA BUSINESS <br />Case #1: Sale of Lot 1, Block 4, Gateway North Industrial Park Plat 2 to Ace Solid <br />Waste <br />Economic Development Coordinator Sullivan stated that in 2006, the EDA made a <br />recommendation to sell this property to ACE Solid Waste for $275,000. The City Council then <br />directed the EDA to order an appraisal of the property to ensure that the sale price was equal to <br />or greater than its appraised value at the September 2 '' . 007 ity Council meeting. The <br />appraised value came in at $205,000. He stated the City roperty in November of <br />2005 for $315,000, and noted that the City's ac sitim, ded the structure on the <br />property, the right -of way area to be utilized for %, venu round scale. He added <br />the City received a grant for the clean-up of the mina io e rep ed that ACE <br />increased its offer to $286,000 due to the len I as pa inal offer, <br />and has presented the City with a signed Purchas .x<, and $5,00 <br />Member Kiefer asked about the date of the <br />Economic Development Coordinator Sulli <br />2007. <br />Chairperson Riley asked Mr. Mike <br />company intends to do with the prop <br />Mr. Berkopec replied that in <br />renewal and this will have an <br />Economic Development q <br />they intend to maintain the <br />ved on October 12, <br />ACE Solid Waste, what the <br />itracts in Anoka County are up for <br />use of the property. <br />ACE Solid Waste has made it clear that <br />the clean-up on the site. <br />or Sulli =un stated the City received a $295,000 grant for the <br />a the site, which was used for clean-up, demolition and <br />. t h e City used approximately $270,000 of the grant, and the <br />going monitoring. He added the grant was received from the <br />(TBRA), which is part of the Met Council. Only cities can <br />to have purchased this property earlier, they would not have <br />site. He stated this property is within TIF District #2, which <br />Chairperson Riley state`s -x°t is important to note that this site is considered a blighted property and <br />with the TBRA grant, the City was able to create a buildable site to be sold to a valued <br />community business. <br />Member Schindel arrived at 7:45 a.m. <br />Economic Development Authority /October 18, 2007 <br />Page 2 of 10 <br />—167— <br />