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<br />Economic Development Coordinator Sullivan recommended that no action be taken until the <br />results of the Buxton Study are complete in order to determine if there is a specific demand for <br />this area. <br /> <br />Member Kiefer inquired whether there would be any benefits to creating a TIF district in this <br />area to help with financing for the infrastructure of the water tower and the redevelopment of the <br />area. <br /> <br />Economic Development Coordinator Sullivan replied that this area has been looked at <br />specifically for creation of a redevelopment district. The area north of 167th, i.e. the grocery <br />store and strip mall, could be included in a redevelopment district, but the area south was in good <br />enough condition that it could not be included. <br /> <br />Member Kiefer noted that a substantial amount of investment was made running city sewer and <br />water up to this area with the intent of developing that area. He. asked if this is included in the <br />costs. <br /> <br />Economic Development Coordinator Sullivan replied they are not. Assistant City Engineer <br />Himmer stated currently there is city water in this area, but not city sewer. A feasibility study <br />was done in 2004 with an estimate of approximately $4 million to extend the sewer up to this <br />area. It was brought forth by residents and property owners and never acted upon once the price <br />came in. It is not foreseen that the City will extend the sewer unless a request comes in. He <br />stated one of the biggest concerns of the HRA with this parcel was the access to the park, which <br />is currently through a permanent/temporary easement. The City Attorney is looking into <br />ensuring that the easement will be honored if the land were to go to the bank in the future. <br />Economic Development Coordinator Sullivan indicated that if the 14.2 acres is purchased there <br />would also be consideration of the 3.1 acre parcel, allowing the house to remain, and taking a <br />portion for a dedicated easement. He advised his recommendation at this time is to flesh out the <br />Buxton Study prior to making a decision on this purchase. <br /> <br />Member Kiefer stated part of the rationale for this property acquisition was that the other sites <br />considered were not as cost effective to locate the water tower. There would be a substantial <br />savings in moving the tower from the location with foundational issues. He believes this makes <br />sense not only from the standpoint of savings for the infrastructure, but also from the standpoint <br />of the possible redevelopment of the 167th node. <br /> <br />Economic Development Coordinator Sullivan pointed out that the question is whether to spend <br />EDA dollars on this purchase ifthere will not be any redevelopment. If this turns out to be better <br />used as a housing area the appropriate funds would be HRA dollars. <br /> <br />There was discussion on the appropriate funding source for the purchase. <br /> <br />Member Kiefer inquired about the possibility of transferring the allocation of funds if it were to <br />be determined that HRA dollars would be more appropriate for the purchase after EDA funds <br />were used. <br /> <br />Economic Development Authority! September 4, 2008 <br />Page 5 of7 <br />