Malt-O-Meal Corporate Response to Conservation Easement

Regarding the Malt-O-Meal property in Lakeville, MN

The conservation easement in question is about 2.5 acres of the 12 acres we own. We realized the conservation easement existed on part of this land before we acquired the property.  However, the City of Lakeville indicated flexibility in considering removal of the conservation easement to support our future growth in Lakeville.  They are open to considering removal since there were no definitive reasons why the conservation easement was established in 1995. 

The Malt-O-Meal property is located in an industrial park area that includes light industry, commercial office space, a Holiday Inn, a retail strip mall, a McDonalds, a truck stop, and other commercial activity all within 150 yards of Interstate 35W. There are a total of 12 residential homes in the area, 7 of which share a property line with the conservation easement.

As part of our planning for future growth, we recently approached the city about the possibility of removal of the easement.  They indicated they would consider it at a public city council meeting in December of this year.  Prior to the council meeting, the city and Malt-O-Meal wanted to solicit input and answer questions of the neighbors whose property abuts the easement.  Malt-O-Meal hosted a meeting with these neighbors on November 23^rd. 

In our discussions with neighbors, the city encouraged us to provide all potential possibilities for the long term future of this site.  Along with parking and drainage, we would have enough space to construct another office building on that land.  Therefore, we drew up plans that included a potential building as part of full disclosure to the neighbors.  While we don’t know if we will ever need that building, it is in the plans as an option to support our continued growth.

The Lakeville City Council will make the decision on whether the easement is removed.  They have indicated they will balance the needs of residential homes along with supporting our growth and increased jobs in the future. The opening of our Lakeville Technology Center in 2009 brought 200+ jobs to the city. Future expansion could add up to 100 more jobs. Of the 7 commercial businesses in the industrial park, Malt-O-Meal paid 50% of the property taxes in 2010 – over $190,000.

As always, Malt-O-Meal strives to be a good corporate citizen.  We respect all laws and policies that are in existence.  While we hope the Lakeville City Council elects to remove the conservation easement to support our future growth, we will abide by whatever decision they make on this issue.