Agenda - Economic Development Authority - 03/15/2015

Home

with those loans paid off the City will no longer have risk in the project. He advised that the City Council will review amendments to agreements related to that issue the following Tuesday. He also provided an update regarding the City's four active purchase agreements, soon to become five, noting that the due diligence of the buyers has been ongoing and has not stalled. He stated that it appears that all projects are moving forward and believed that closings would occur beginning in April and ending in June. He stated that if all of those move forward 2015 could be a good year for the City. He confirmed that the Dollar General agreement has been terminated. City Administrator Ulrich stated that their concern was access to the property. He reported that the Highway 10 Subcommittee will meet tonight with the consultant and a potential extension of that consultant agreement will come before the Council the following week. He stated that there is also a County Working Group for Highway 10 that the City has been participating in on a monthly basis. He advised of additional funds that may be available to the City because of the issue of rail separation. He stated that the Council reviewed the issue regarding the land south of the landfill and chose not to move forward with an industrial park in that area. He advised that the Council did approve a sewer and water connection to the City of Anoka on the far east boundary, through a Joint Powers Agreement. He stated that the City is working with Elk River to reconstruct Jarvis Street, which is on the boundary of the two cities and will provide an alternative route and whistle free zone for those residents in that area. He noted that with this project the City will become a whistle free zone. Chairperson Steffen questioned the timeline for obtaining a new Member for the EDA. City Administrator Ulrich stated that appointments will be made by April I s' . Member Williams questioned if there will be discussion on moving this meeting to the first Thursday of the month. Economic Development Manager /Assistant City Administrator Brama agreed that staff would recommend that the meeting be moved to the first Thursday of the month which would allow potential purchase agreements to move to the Council the following week. He confirmed that the date change could become effective March 5th It was the consensus of the EDA to change the meeting date to the first Thursday of the month. 6. ADJOURNMENT Motion by Member Skaff, seconded by Member Hardin, to adjourn the meeting. Motion carried. Voting Yes: Chairperson Steffen, Members Skaff, Hardin, Riley, and Williams. Voting No: None. Absent: Brunt. The regular meeting of the Economic Development Authority adjourned at 8:54 a.m. Economic Development Authority /February 5, 2015 Page 6 of 7