Agenda - Economic Development Authority - 04/09/2009

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City Administrator Ulrich confirmed that the back taxes would be paid by the banle He advised that there are assessments on the property, which would be put onto the purchase price as the. parcels are developed. Member Skaff thought it was a "breath of fresh air" and commended the City Council for their work. Chairperson Riley commented that many residents thought that the City already owned that land. Mayor Ramsey thought that the past perception was that the City was more directly focused on the Town Center, and he wanted to ensure that focus was not taken off other areas in the City. Chairperson Riley advised that this meeting was to help the EDA determine where their efforts should be focused, as it had not been clear in the past. Mayor Ramsey thought it was obvious that things were going on in the Sunfish Lake area, but again advised that resident perception was that the focus was solely on the Town Center. Economic Development Coordinator Sullivan advised that the EDA has been ,active in the Sunfish Lake area and Gateway. He advised that as a body, the EDA is looking for further clarification in regard to the Town Center and what should be done by the EDA. He thought it was important that the EDA be kept alert of what is going on in the' Town Center area. He stated that City staff met with Acapulco, and was looking at bringing them into North Star Market Place. He advised that they would like to move forward, but the business would like help from the City. He suggested that at the next EDA meeting a possible subsidy or grant be awarded to capture the costs and bring that restaurant into the City. Mayor Ramsey thought that the Town Center would be a huge project and did not feel that the Council alone would be able to market the properties themselves. He felt that with the contacts that the EDA possesses, they would be very helpful in the process. He was concerned that maybe the City went a little overboard with the offers made to Acapulco, and wanted to ensure that they are not giving too much. Member Elvig thought that until it is made clear as to what the City has he did not feel that large incentives should be made to small retail businesses. He thought that if any push was going to be made by the City, is should be made to developers who could take a large plot. Economic Development Coordinator Sullivan clarified that prior to that meeting the developer was not able to close the deal because of those fees. He advised that the understanding was to help the developer and any deal would be made with the developer and not the individual retailer. He questioned if North Star Market Place was going to be part of the Town Center. Mayor Ramsey agreed and thought that the EDA could help gauge what actually needs to be done. He thought that the EDA had the expertise to determine what would need to given to get more businesses into the City, without giving away too much. Joint Economic Development Authority/City Council/March 19, 2009 , Page 5 of 11 5