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<br />EDA Minutes <br />May 9, 1994 <br /> <br />Page 3 <br /> <br />Coon Rapids. He noted that 52 percent of its shareholders live outside the Coon <br />Rapids city limits, and one-third of its shareholders live outside Anoka County. <br /> <br />Bill stated that Kristin Wood and Mike Mulrooney, representatives of CMDC, met <br />with Commissioner Dwyer to request the EDA's support for a one-year, <br />temporary expansion of its services into Sherburne County. <br /> <br />COMMISSIONER DWYER MOVED THAT THE EDA SUBMIT A LETTER OF SUPPORT ON <br />BEHALF OF THE CENTRAL MINNESOTA DEVELOPMENT COMPANY (CMDC) <br />REGARDING ITS REQUEST FOR A TEMPORARY, ONE-YEAR SERVICE TERRITORY <br />EXPANSION INTO SHERBURNE COUNTY. COMMISSIONER FARBER SECONDED THE <br />MOTION. THE MOTION CARRIED 6-0. COMMISSIONER HOLMGREN WAS NOT <br />PRESENT FOR THIS ITEM. <br /> <br />9. Consider Loan Transfer Request by Coldwell Banker-Alleqiance Realty <br /> <br />Bill Rubin reviewed Coldwell Banker-Allegiance Realty's request to transfer the <br />outstanding balance of a real estate loan on an office suite on the Evans-Main <br />Street office building to a new office suite in the Freeport Rnancial Center <br />Building. Bill noted that the equipment portion of the loan for the telephone <br />system will be paid down completely. <br /> <br />COMMISSIONER DWYER MOVED TO APPROVE COLDWELL BANKER-ALLEGIANCE <br />REALTY'S REQUEST TO TRANSFER ITS REAL ESTATE MORTGAGE FROM THE 305 MAIN <br />STREET OFFICE TO A NEW OFFICE AT 325 MAIN STREET IN THE FREEPORT FINANCIAL <br />CENTER BUILDING. COMMISSIONER SCHEEL SECONDED THE MOTION. THE <br />MOTION CARRIED 6-0. COMMISSIONER HOLMGREN WAS NOT PRESENT FOR THIS <br />ITEM. <br /> <br />10. Consider Authorizinq an Appraisal to Estimate the Fair Market Value of the <br />Proposed Business Park Property <br /> <br />The EDA Executive Director stated that the following companies were contacted <br />to provide an estimate for appraisal services for the proposed business park <br />property: <br /> <br /> <br />Name <br />Shenehon <br />Panger & Benson <br />Patchin & Associates <br /> <br />lime Frame <br />30 days <br />30 days <br />30 days <br /> <br />Fee <br />$4,000 <br />$2,500 <br />$2,500 <br /> <br />COMMISSIONER DWYER MOVED TO ENGAGE PANGER & BENSON OF ST. CLOUD, <br />MINNESOTA, AT A COST NOT TO EXCEED $2,500, FOR PURPOSES OF COMPLETING <br />AN APPRAISAL TO ESTABLISH FAIR MARKET VALUE OF APPROXIMATELY 35 ACRES <br />OF BUSINESS PARK LAND CURRENTLY OWNED BY TONY EMMERICH. <br />COMMISSIONER HOLMGREN SECONDED THE MOTION. THE MOTION CARRIED 7-0. <br /> <br />12. Prospect Status Report <br /> <br />12.a. Commissioner Duitsman Item <br />