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4.01: Review Future Business Park RFQ and Updates <br />Economic Development Manager /Assistant City Administrator Brama presented the staff report <br />and updated the Board of outstanding items. <br />Member Riley asked if Hageman and Pearson have seen this agreement and are they in favor of <br />it. <br />Economic Development Manager /Assistant City Administrator Brama indicated they have <br />reviewed this and are on board with the agreement. <br />Economic Development Manager /Assistant City Administrator Brama reviewed the funding <br />source with the Board. <br />Mr. Mike Mulroney reviewed the business analysis report of the proposed business park. <br />Chairperson Steffen asked how the City will provide site control when they do not own the land. <br />Mr. Mulroney stated they may be able to negotiate an option so they can negotiate a take down <br />price of the property. This can be negotiated as a staff. <br />Chairperson Steffen asked if the City needed to take down the property in order to control the <br />land. <br />Mr. Mulroney stated they would not need to do that. <br />Chairperson Steffen asked if the City owned most of the properties mentioned in the report. <br />Mr. Mulroney stated the City owned every one of them except Connexus Energy but that was a <br />good example of a good relationship between the City and business and in that case the City <br />installed the sewer and water and there was no property take down by the City and pricing was <br />established on the front end. The property was marketed by the City and to a degree by <br />Connexus Energy. <br />Chairperson Steffen asked if the City put all the improvements in before there was a prospect. <br />Mr. Mulroney indicated the City did all of the improvements. <br />Chairperson Steffen asked if the City should prep the land before trying to market it and if the <br />City is on the right track. <br />Mr. Mulroney thought the City was headed in the right direction and if they do not have sites that <br />are ready, they will not be in the running for new businesses. <br />Economic Development Authority/March 5, 2015 <br />Page 2 of 6 <br />