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(3) EDA Feedback <br />• From the perspective of development readiness, the EDA does believe this site is well -suited for this <br />project. From a development perspective, the EDA is comfortable with this site —they are little/ no <br />issues —the site is ready to go (basically pad ready). <br />• If Stone Brook would be willing to purchase this site, within the City's acceptable deal range, the EDA <br />would likely support Stone Brook being located on this site. However, Stone Brook has indicated they <br />cannot pay full price for this site. <br />o Generally, some EDA members were concerned with request from Stone Brook to sell this site at <br />"like cost" in comparison to their preferred site (Site #1). That would be a swing of $12 psf down <br />to $3psf roughly. Some EDA members felt that was too much of a gap, and the City would be <br />leaving too much land proceeds on the table. Generally, reducing land costs by said amount <br />would require a formal business subsidy —which some EDA members voiced opposition. <br />• Stone Brook only needs 0.9 to 1.0 acres. These sites are 1.23-1.35 acres. Some EDA members voiced <br />concern about wasted space/ land. <br />Page 5of6 <br />