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HRA BUSINESS <br /> Case #1: Consider Letter of Intent - West 50 Retail <br /> Development Manager Lazan reviewed the staff report. He pointed out the name "West 50" is a <br /> placeholder name, which staff created in the interim. He noted there is an offer that may be <br /> brought forward for consideration in the near future and suggested a discussion take place to <br /> determine if the idea is viable. It would involve having cash proceeds to go the City, possibly <br /> using some TIF dollars, and a co- marketing effort between the City and the developer. The City <br /> would partner with a group. <br /> Chairperson Elvig questioned whether this situation would overlap or be in competition with <br /> Landform. <br /> Development Manager Lazan replied that issues would have to be worked through and noted this <br /> scenario could be relevant for the 30 acres versus the West 50. <br /> Commissioner Ramsey agreed with this idea of development and that private enterprise needs to <br /> get move involved. As the parcels are taken up, the tax rolls increase which is what the City <br /> needs. <br /> Commissioner McGlone stated he is in favor of pursuing this type of arrangement. <br /> Public Works Director Olson pointed out the roadways should be planned and funded in such a <br /> way that the possibility of using State Aid is possible. <br /> Commissioner Backous stated he is in favor of going forward if the developer checks out. <br /> Commissioner Ramsey asked if the City has the final decision on this. <br /> Development Manager Lazan replied the City is the seller, so they have ultimate control. A <br /> p g <br /> development agreement would be drawn up for each parcel. <br /> Chairperson Elvig raised the concern of wetland, and the possibility of a bidding war. <br /> Development Manager Lazan addressed the issues and stated there will be contingencies and <br /> there is a lot to consider. He did not foresee a bidding war taking place. <br /> Chairperson Elvig stated he preferred to work with the 30 acres for this scenario rather than the <br /> West 50. <br /> Case #2: Consider Development of the Southeast Quadrant of Armstrong Boulevard and <br /> Sunwood Drive <br /> Development Manager Lazan reviewed the staff report. <br /> Housing and Redevelopment Authority / June 21, 2011 <br /> Page 2 of 5 <br />