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Chairperson Dehen stated he did not feel anyone here agrees that second project is competitive but the question is, do we continue to talk with them about possibly bringing in another project. Commissioner Ramsey stated they cannot compete without a subsidy. Chairperson Dehen expressed agreement with Commissioner Ramsey. He stated right now their offer is not as good, so we say no we will not accept this but we will consider other options. Commissioner Wise stated we cannot be so shortsighted to think of businesses coming in that do not have an effect on other businesses — how many gas stations are sitting empty for example. Commissioner Elvig stated we have someone who has seen this market place. They have paid a premium for them to come in here. It's wrong for us to say we will restrict others. He totally agreed with the free market but he thinks we have to initiate conversation with these people. If we say yes to $17 a square foot, then we need to make sure the price is not fixed for anyone else wanting to come in. He did not want to dictate who comes in but he stated he thought we should go back to them. Commissioner Ramsey stated it's a free market but we own the land and we need to make sure our entire project is successful. Chairperson Dehen stated they are not competitive but the question is what do we do with them. Do we say they are not competition so get out of here or do we go back and say we are not selling this for less than $17 a square foot and we do not give them a subsidy. Commissioner Ramsey stated we say we are not accepting any other plans for this type of business — if it changes we will go back to them. Commissioner Wise stated that if you have a study showing it will not be able to be supported, it's stupid to allow this. Commissioner Elvig stated that retail develops retail — energy develops energy. What if someone came in with $19 a square foot — do we take it — of course we would — we would let them "duke it out ". Commissioner McGlone stated we are not The COR world. We have a responsibility to the taxpayers to pay attention to what studies are telling us. It sounds and looks stupid on paper and at $19 a square foot — it's still stupid. Development Manager Lazan stated that you take away a big chunk of creating value by picking and choosing pieces. The product and return will be better. He felt that generally the government needs to stay out of it, but we are the landowners. Commissioner Wise talked about reasons for putting certain like businesses next to each other. Housing and Redevelopment Authority / October 5, 2010 Page 5 of 11