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He requested permission from the EDA to obtain proposals for a marketing package to present to <br />the EDA for review. <br />Member LeTourneau noted that the staff report includes information regarding current property <br />owners, maps, and financial assistance options and suggested publicizing this information on the <br />City's website as a form of marketing package instead of going out and paying for something. <br />He added he felt the stakeholders should participate in the distribution and cost of any marketing <br />package. <br />Assistant to the City Administrator Brama agreed to prepare a revised marketing information <br />package for review by the EDA at its next meeting. He indicated the City has limited capability <br />from a marketing perspective and asked the EDA to consider listing with a broker or someone <br />with a larger reach for investors. He agreed to present the EDA with options regarding <br />marketing at its next meeting. <br />Chairperson Steffen stated he would like to see the owners agree to list the site together with one <br />sign and one broker and requested that staff discuss this with the ownership group. <br />City Administrator Ulrich indicated that a potential compromise that could add value is to clear <br />the site and consolidate the parcels for sale. He stated the EDA could front the money to clear <br />the site if the property owners agreed to list the site with one realtor and sell it as a block. He <br />stated the City could also offer assistance with demolition costs. <br />Member Williams felt that offering any demolition assistance and/or incenting the property <br />owners to work together needs to be part of a bigger plan and felt the property owners and <br />brokers should be leading that effort, adding the EDA's appropriate role is as a facilitator. <br />Mr. Brama stated that one DEED program allows a 50% match to a developer or city to demolish <br />buildings to redevelop a parcel and the City could get a grant for eligible costs. He stated <br />another DEED program includes a loan program from the State to purchase and demolish <br />properties. He stated if the City were able to redevelop the north side, half the loan would be <br />forgiven and a benefit of the loan program is that the City would not have to make repayment for <br />two years. He added the grant program would be advertised through the marketing package and <br />the demolition costs for the three buildings could be part of the marketing package. <br />Member Brunt stated it was his impression that the EDA agreed that a housing development in <br />this area would lead to a better performing commercial node that included both the north and <br />south side. He expressed concern that the Rum River Hills proposal is for the south side only <br />and felt that any development proposal has to include both the north and south sides. He asked if <br />the Rum River Hills representatives understand that the EDA wants a development proposal for <br />the entire site. <br />Chairperson Steffen stated the Rum River Hills representatives know something has to happen <br />on the north side, adding he did not think it has to be one developer for the whole site. He stated <br />he felt the City should be the facilitator and the City can help them put together a marketing <br />package and select a broker. <br />Economic Development Authority /July 11, 2013 <br />Page 5 of 7 <br />