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Case #3: Approve Development Agreement for The Residence at The COR — Lot 3, <br />Block 1, COR ONE <br />HRA Executive Director Nelson reviewed the staff report. <br />Motion by Commissioner Look, seconded by Commissioner Ramsey, to approve the <br />Development Agreement for The Residence at The COR — Lot 3, Block 1, COR ONE. <br />Motion carried. Voting Yes: Commissioners Look, Elvig, McGlone, and Wise. Voting No: <br />Chairperson Dehen and Commissioner Jeffrey. Absent: None. <br />Case #4: Approve Development Management Fee - The Residence at The COR <br />HRA Executive Director Nelson reviewed the staff report. <br />Chairperson Dehen stated he had concerns with the relationship and the fees, but Council had <br />agreed to do this. He expressed concern about the vagueness of this and he did not see where <br />this should have been negotiated. He encouraged the new Council figure out a formula on how <br />something like this should be dealt with. <br />Development Manager Lazan stated staff worked very hard on this to come up with a formula <br />and this was a difficult project to deal with. He stated he had fronted many costs also to ensure <br />this deal went through. He noted he was still carrying $170,000 of project costs and he had <br />eleven Landform staff members working on the project over the past 14 months. He requested <br />the $80,000 be guaranteed. <br />City Administrator Ulrich stated the intent of this development was to spur other development <br />and he would work with Landform on the $80,000.00. <br />Chairperson Dehen stated he would vote against this because he had consistently voted against <br />the project and he disagreed with the Development Contract. <br />HRA Executive Director Nelson stated there had been a lot of' discussion regarding this and she <br />proposed the $80,000 be paid back at the next land sale transaction or at the end of the contract <br />date <br />Motion by Commissioner Ramsey, seconded by Commissioner Wise, to approve the <br />Development Management Fee - The Residence at The COR and to negotiate the $80,000 with <br />Landform. <br />Motion carried. Voting Yes: Commissioners Ramsey, Wise, Elvig, Jeffrey, Look, and <br />McGlone. Voting No: Chairperson Dehen. Absent: None. <br />Housing and Redevelopment Authority / December 14, 2010 <br />Page 5 of 6 <br />