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Development Services Manager Gladhill stated it does not change the preliminary plat for both <br />phases and the final plat will come through with only Phase One lots. There will be two <br />terminating streets and they will try to be flexible and creative in utilizing both parking lots as a <br />temporary turn around provision. They have also talked about holding some sort of surety to <br />construct a more permanent cul -de -sac if Phase Two did not occur or was delayed. <br />Chairperson Steffen asked if it was ever discussed not to sell the second phase at this time. <br />Economic Development Manager /Assistant City Administrator Brama stated that is an option but <br />NIK does not want to do that. He stated there is a risk on both sides of that because if they delay <br />this it is possible for NIK to come back at a later time with a lower purchase price so it is best to <br />lock them in at the current price. <br />Member Skaff stated the driving force to build the new fire station is because they would have <br />the dollars or have a PA for that property. He thought the timing of the fire station may be <br />further down the road without the PA. <br />Chairperson Steffen did not think there would be a substantial amount of the money involved <br />that would build the fire station so he did not think the City was relying on the cash from the sale <br />of this property to build it. <br />Economic Development Manager /Assistant City Administrator Brama stated that was correct <br />and would be supplemental. <br />Chairperson Steffen stated if the first phase of the project goes well and the homes sell quickly, <br />the price of the second piece of land will probably go up. He thought they either need more <br />earnest money to guarantee that closing or they should consider selling one piece of land at a <br />time. <br />Member LeTourneau thought that was a good point and wondered if they should go into a closed <br />session and have a discussion for that. <br />Economic Development Manager /Assistant City Administrator Brama stated as long as they are <br />talking about earnest money there is no need for a closed session. A closed session is to be used <br />only for purchase price discussion and he did not feel the Board was at that point. <br />Chairperson Steffen asked what the preference of the group was. <br />Member Riley stated if they do not sell parcel two, they do not need a new fire station. He was <br />not certain that was an EDA issue but a good question. He was not sure if they can approve or <br />disapprove a purchase agreement before them. <br />Member LeTourneau did not think that Fire Station 2 came about because they were planning on <br />selling this parcel of land. He thought they decided the current fire station was not adequate for <br />the growth of the community and it was decided the City needed a second new fire station, which <br />Economic Development Authority /January 8, 2015 <br />Page 5 of 10 <br />