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REQUEST FOR ECONOMIC DEVELOPMENTAUTHORITYACTION Date:8/29/2016 Item No.: 8.f Department ApprovalExecutive DirectorApproval Item Description: Receive Update on Southeast Roseville Properties of Interest B ACKGROUND 1 On April 11, 2016,as part of the Southeast Roseville presentation, staff made the City Council 2 aware of three properties currently availablein thearea:196 S. McCarrons Boulevard, 210 S. 3 McCarrons Boulevard, and 211 N. McCarrons Boulevard (the site of the formerArmory).At the 4 conclusion of the discussion,the following direction was given to staff. 5 1.To obtain an appraisal for 210 S. McCarrons Blvd. 6 2.Obtain an appraisal for196S. McCarrons Boulevard for consideration through acquiring the 7 property using the Housing Replacement Program. 8 3.Request extension forconsidering redevelopment of 211 N. McCarrons Blvd. from the 9 MinnesotaDepartment of Military Affairs. 10 210 and 196 S. McCarrons Blvd 11 At the May 25REDA meeting the Board reviewed the appraisals from 210 S. McCarrons Blvd and 12 196 S. McCarrons Blvd. Staff was directed to do additional due-diligence on 210 S. McCarrons 13 Blvd and bring it back for further consideration at the June 13, 2016 meeting. Based upon direction 14 given to staff,a formal purchase agreement was presented to the property representative and his 15 realtor on June 17, 2016. It was further requested that the seller provide feedback to REDA staff by 16 June 21, 2016 to allow a Closed Sessiondiscusssion for consideration of a counter offer. 17 No feedback followed from the seller after the presentation of an offer, so REDA staff had a 18 conversation with the Realtor on July 15, 2016 and wasadvised that the Realtor would follow-up. 19 No further follow-up came from the Realtor so the REDA staff requested in writingon July 26a 20 response by the end of business day on July 27, 2016 of the intended interest of the seller. The 21 Realtor response back was that the seller had not given any counter offer to the Realtor but he had 22 asked for one. 23 196 S. McCarrons Blvd. property ownershave expressedcontinued interest inselling to the REDA 24 under the Housing Replacement/Single Family Construction Program.If acquired,the REDA could 25 use the property to leverage redevelopment of 210 S. McCarrons Blvd by a private developer to 26 clean up a propertyline and provide public access to Ramsey County Parks on McCarrons Lake. The 27 representative of the property has identified that the property is already used for accessto the 28 Page 1of 3