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Executive Director LaFrance indicated staff has not yet calculated compensation to Landform <br />Professional Services and will present that information at a future date. <br />Motion by Commissioner Tossey, seconded by Commissioner Kuzma, to approve the Purchase <br />Agreement with Casey's General Store with revisions as recommended by staff. <br />Motion carried. Voting Yes: Chairperson Backous, Commissioners Tossey, Kuzma, <br />LeTourneau, and Riley. Voting No: None. Absent: Commissioners Johns and Strommen. <br />5.03: Development Manager Compensation for Development at North Commons <br />Executive Director LaFrance reviewed the staff report and terms of the incentive -based <br />compensation agreement with Landform Professional Services on all transactions within The <br />COR regardless of origin or referral source. The incentive compensation is 2% of the total <br />capital cost of the end use of the parcel or property sold or developed. He explained the HRA <br />entered into a Purchase Agreement with Purmort Homes, Inc. for the development of four single - <br />family homes at North Commons. The compensation to Landform per the agreement is <br />$14,874.87, not including site improvement costs. This compensation is due to Landform as <br />follows: 20% at signing of the Purchase Agreement; 60% at closing; and, 20% at Certificate of <br />Occupancy. However, Landform has expressed interest in negotiating a one -time lump sum of <br />$14,000 in lieu of incremental payments. Executive Director LaFrance presented alternatives for <br />consideration, noting site improvements will increase the level of compensation, and requested <br />direction. <br />City Attorney Langel advised that if approved, Landform will be asked to sign a release <br />indicating this is payment in full. <br />Motion by Commissioner Riley, seconded by Chairperson Backous, to approve compensation to <br />Landform per Landform's negotiated one -time payment of $14,000, thus ending obligations of <br />payment to Landform for this specific project. <br />Motion carried. Voting Yes: Chairperson Backous, Commissioners Riley, Kuzma, and <br />LeTourneau, and Tossey. Voting No: None. Absent: Commissioners Johns and Strommen. <br />6. EXECUTIVE DIRECTOR'S REPORT <br />Executive Director LaFrance reported on the successful closing of North Commons lots. <br />7. COMMISSIONER INPUT <br />None. <br />Housing and Redevelopment Authority / May 13, 2014 <br />Page 4 of 5 <br />