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City Administrator Ulrich was not aware of a study that has been done but noted that the study <br />would be completed to ensure that there would not be interference for precision manufacturing. <br />Economic Development Manager /Assistant City Administrator Brama described the study that <br />would be completed, noting that it would most likely start by comparing other communities to <br />determine if precision manufacturing businesses are located near train tracks in other <br />communities, rather than a scientific measurement of ground vibrations. <br />Member Skaff questioned if the City would be involved in the selling of the parcels. <br />Economic Development Manager /Assistant City Administrator Brama confirmed that once the <br />numbers are known it would be possible to determine if assistance could be provided by the City. <br />Member Riley stated that he would not like to see the City purchase land and act as the <br />developer. He believed that the City has a role in the process but did not want to see the City act <br />as developer. He questioned if this process is helping the City to determine if this would be <br />economical and if this idea could move forward. <br />Economic Development Manager /Assistant City Administrator Brama agreed that this cost <br />information is integral in the process and will assist in discussions with developers. <br />Member Riley stated the two major land owners should share the cost in thirds as this is their <br />land to develop. <br />Member Hardin stated that there has been a history between the City and Hakanson Anderson <br />and questioned if there was a clear difference between the two proposals. <br />Economic Development Manager /Assistant City Administrator Brama confirmed that Bolton and <br />Menk really stood out because of the level of detail provided. He stated that this process will <br />take a lot of back and forth between staff and the consultant and staff was confident that Bolton <br />and Menk would be the best choice. <br />Member Riley referenced the potential funding and did not believe the EDA Revolving Loan <br />Fund should be used. <br />Chairperson Steffen agreed that the EDA Revolving Loan Fund is meant for businesses to use <br />and not the City to use. <br />Member Hardin questioned if the EDA Revolving Loan Fund were to be used, would the portion <br />paid back by the landowners then become unrestricted. <br />Economic Development Manager /Assistant City Administrator Brama believed that may be the <br />case but was unsure and stated that he would verify whether that would be correct. <br />Economic Development Authority/February 5, 2015 <br />Page 3 of 7 <br />