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forward but the last two developers they have talked to the City has known what is going to be <br />developed upfront. <br />City Administrator Ulrich stated the site has been graded and fill has been brought in and the site <br />has been approved. They did have guarantees that this would not be an eyesore if not built upon. <br />Econ. Dev. Mgr/Assistant City Administrator Brama stated anytime they get involved in a deal <br />financially it is their standard practice to have performance standards. <br />Chairperson Steffen stated the four-year payback on the TIF note seemed very short to him. <br />Ms. Kvilvang stated this is a very short time period versus other projects. <br />Member Skaff stated he would support approving this item. <br />Motion by Member Skaff, seconded by Member Brunt, to recommend to City Council the <br />approval of the $500,000 TIF program. <br />Further discussion: Member Hardin asked if the motion included funding from the TIF program. <br />Econ. Dev. Mgr/Assistant City Administrator Brama stated it would. <br />Motion carried. Voting Yes: Members Skaff, Brunt, Burandt, and Hardin. Voting No: None. <br />Abstain: Chairperson Steffen. Absent: Members Riley, William. <br />Econ. Dev. Mgr/Assistant City Administrator Brama reviewed the next steps of the project. <br />4. ADJOURNMENT <br />Motion by Member Hardin, seconded by Member Burandt, to adjourn the meeting. <br />Motion carried. Voting Yes: Chairperson Steffen, Members Skaff, Brunt, Burandt, and Hardin. <br />Voting No: None. Absent: Members Riley and Williams. <br />The regular meeting of the Economic Development Authority adjourned at 8:15 a.m. <br />Respectfully submitted, <br />Kurtis G. Ulrich <br />City Administrator <br />ATTEST: <br />Economic Development Authority/September 17, 2015 <br />Page 5 of 6 <br />