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Commissioner Wise stated he would prefer to see at least two signs, noting it is an easier way to <br /> communicate to the residents. <br /> Consensus was reached to erect two signs. <br /> Case #2: Consider Letter of Intent - West 30 Retail (Portions may be closed to the public) <br /> Development Manager Lazan reviewed the staff report. He noted after meeting with the first <br /> developer a year or so ago, they submitted a Letter of Intent. <br /> City Attorney Goodrich noted that this meeting can move into closed session to discuss land sale <br /> pricing. <br /> Motion by Commissioner Ramsey, seconded by Chairperson Elvig, to move to closed session. <br /> Motion carried. Voting Yes: Chairperson Elvig, Commissioners Ramsey, Backous, McGlone, <br /> Strommen, Tossey, and Wise. Voting No: None. Absent: None. <br /> The Special HRA meeting moved into a closed session at 8:28 p.m. <br /> Motion by Commissioner Ramsey, seconded by Commissioner Wise, to open the closed <br /> meeting. <br /> Motion carried. Voting Yes: Chairperson Elvig, Commissioners Ramsey, Wise, Backous, <br /> McGlone, Strommen, and Tossey. Voting No: None. Absent: None. <br /> The closed session ended at 9:00 p.m. <br /> Commissioner Ramsey stated he is in favor of the proposal, though due diligence must be <br /> conducted on the developer. <br /> Development Manager Lazan noted he did visit their office as part of due diligence. He <br /> explained this proposal is a three year timeline, 3 acres a year for 4 years, which is dependent on <br /> the overpass. If the Board agrees, he will draw up a purchase agreement and present drafts to the <br /> Board prior to bringing it forward to the developer. <br /> Direction was given to move forward with discussions toward a purchase agreement. <br /> Discussion took place regarding the advantages and disadvantages of setting a precedent, and <br /> setting up guideposts. <br /> Commissioner Wise pointed out this is not the first time a large piece of property has been <br /> developed. The first developer will get the best price, which is common knowledge among <br /> developers. <br /> Housing and Redevelopment Authority / September 6, 2011 <br /> Page 2 of 4 <br />