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Ms. Kvilvang stated residential does drive commercial and if they do not have residential nearby, <br />commercial businesses will not want to populate the area and it will be harder to build out. <br />Chairperson Steffen asked if they had a preference of senior living market rate versus senior <br />living affordable, wouldn't they choose senior living market rate. <br />Member Skaff thought they had that already since there are seniors living in The Residence at <br />the COR who can afford that rent structure and the same can be said of the PSD environment. <br />Chairperson. Steffen stated with senior living market rate, the City would not be providing as <br />much assistance. Staff indicated that was correct. <br />Chairperson Steffen stated he would be in favor of proceeding and see where this goes and <br />agreed that they were not in the position to invest too many dollars. <br />Member Williams thought the Council would appreciate the thoughts of the EDA on how they <br />feel this could fit into the subsidy policy as a whole and what this looks like in relation, to other <br />subsidies that have been offered for residential developments in the COR and thoughts around <br />whether or not commercial is something they should debate. <br />Member Skaff agreed with Ms. Kvilvang that rooftops do make a difference when looking at <br />trying to drive more retail across the street. He thought it would enhance the area and he was <br />fine with the idea of retail across the street as planned and since they have two residences along <br />that side already, this will fit in. <br />Member Riley stated he values what this group comes up with and he gets to discuss this item <br />again at the City Council level. He stated the EDA has a slightly different process and a <br />different angle. He thought if they could come up with a decision that makes sense from the <br />EDA standpoint, that possibly the Planning Commission or Council may not agree with for other <br />reasons. One other consideration is he did not think residents were excited about more <br />apartments coming into this area. They want shopping and restaurants and residents wonder why <br />the City is considering filling the area with more residential. If residents are not interested in <br />more apartments, they would not be happy with the City providing subsidy to another apartment <br />development. This is something that could be considered at the EDA level but will be discussed <br />at a higher level also. <br />Chairperson Steffen stated he was struggling with the Master Plan and why it was designated to <br />be commercial. He wondered if there was any rationale on why the Master Plan was created that <br />way. <br />City Administrator Ulrich stated this is highway frontage and Highway 10 visibility is important <br />to commercial so to a certain extent they started with the commercial corners as the most <br />valuable pieces and the second most valuable is having the visibility and exposure to Highway <br />10. <br />Economic Development Authority/June 4, 2015 <br />Page 4 of 9 <br />