Minutes - Economic Development Authority - 11/14/2013

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the City Council approved the hiring of Ted LeFrance as the new Economic Development Manager and Mr. LeFrance will attend the next EDA meeting as well as the fall networking event. He stated the City will be holding a public input session on December 12 at 6 :00 p.m. regarding potential future land uses in the business park. He advised the City adopted a new RFQ process to solicit a preferred real estate broker to list City -owned properties and responses are expected the last week of November with a selection made in December. He stated the City has been working with the Met Council on the population and employment forecast and providing comment to the Met Council on this forecast. Chairperson Steffen requested an update regarding McDonalds and The Residence at the COR. Development Services Manager Gladhill indicated the City Council approved amended contracts between the HRA and McDonalds at its November 12 meeting and construction will begin in spring 2014. He reported that Residence at the COR staff indicated they have 60 signed leases out of 230 units, adding City staff did not verify this information. He added that given the entire project was not done until recently, that number should increase in the spring of 2014. Chairperson Steffen urged the City to monitor this project since it includes City funding and to make sure a system is in place for monitoring the City's payback. Development Services Manager Gladhill stated the Finance Director is monitoring those timelines and key milestones were written into the development agreement. Chairperson Steffen stated he has been asked about this project by residents, including how the project is working and when the City will be paid and requested that staff provide periodic updates to the EDA. 5. MEMBER/STAFF INPUT Member Skaff announced that the first service at Northgate Church will be on December 7th at 5:00 p.m. He stated that Northern Starz Theatre Company will be putting on a performance of "A Christmas Carol" on December 13, 14, and 15 He invited the EDA members to an open house on Friday, December 6 from 7:00 -8:00 p.m. 6. ADJOURNMENT The regular meeting of the Economic Development Authority adjourned at 8:33 a.m. Respe sub"'! Kurtis G. Ulrich, City Administrator ATT Patri k Brama, Assi Art to the City Administrator Draft by Barbara Hughes (TimeSaver Off Site Secretarial, Inc.) Economic Development Authority/November 14, 2013 Page 4 of 4