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<br />successful, there had to be enough of an arm's length between the development corporation and <br />the City Council. <br /> <br />City Administrator Ulrich stated a key difference with a development corporation is that it is set <br />up as a nonprofit, which would go back into the community and you would not have this with a <br />public company. <br /> <br />Commissioner Wise stated he liked the idea of a development corporation. He believed with a <br />private entity things would get done. He was concerned about a Councilmember sitting on the <br />Board however and if that would be a conflict of interest. . <br /> <br />Commissioner Elvig stated there were a lot of stimulus dollars out there that the City could not <br />go after and this was frustrating. He believed a development corporation would be able to get a <br />hold of those stimulus funds. <br /> <br />Commissioner McGlone stated this concept "scared him".. He stated the City could give this <br />land away and still make money with the tax base this would create. He asked how many deals <br />the City would lose because a development corporation was setting up a layer between a <br />potential deal and the City. <br /> <br />Commissioner Elvig stated he was looking for direction as to whether this was a good proposal <br />or not. <br /> <br />Commissioner Ramsey stated he might be interested in supporting this proposal if he knew there <br />was a proposal coming from Gold Star. He believed this might be premature. <br /> <br />Councilmember Wise asked if Gold Star would be willing to prepare an informal letter. <br /> <br />Chairperson Dehen stated he wanted to get something more firm before the HRA proceeded. <br /> <br />City Administrator Ulrich recommended the next step was to develop a written proposal for the <br />development corporation to outline the potential package for Gold Star and how that would be <br />facilitated. <br /> <br />Commissioner Look stated he wanted to investigate the possibility of dealing with a public firm <br />also. He stated until that was done, he was not comfortable doing anything about this at this <br />time. . <br /> <br />Housing and Redevelopment Authority / December 8, 2009 <br />Page 4 of 6 <br />