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preliminary answer to these questions. That information is included in the "Alternatives" attachment in this <br /> case--slide 48. <br /> .The EDA asked how this proposed project would effect the City's business park--from a land price <br /> perspective. In other words, if Hageman Holdings takes on additional assessments, as proposed, are they now <br /> priced-out of the market--and our business park is now not competitively priced? That question was generally <br /> addressed in the attached QA Log--page 5. <br /> .The EDA took the general position--that minimizing the City's investment in this project is ideal. Option B <br /> (as outlined in the attached alternatives) is ideal for the City. However,the EDA understood more discussion <br /> is needed, and that input from Capstone is needed. <br /> .The original MOU proposal included a provision for Capstone to not begin repaying assessments for five <br /> years. The EDA requested that Capstone's assessments begin repayment immediately. Capstone has agreed to <br /> that request. <br /> .The original MOU proposal included a provision to allow Hageman Holdings to NOT accrue interest over <br /> time. The EDA requested that the Hageman Holdings assessment does accrue interest over time, and follow <br /> industry standards. Staff has updated the attached MOU accordingly. <br /> Capstone Homes was in attendance of the EDA meeting on 03/09. They did submit the attached responses to EDA <br /> questions. It should also be noted, Capstone (and Pearson Farms) desire to receive formal direction from the <br /> Council on the attached MOU in April. Several of their agreements,processes, and next steps are contingent upon <br /> said direction. <br /> Action: <br /> Please see "purpose" of this case. <br /> Attachments <br /> MOU <br /> Background <br /> Alternatives <br /> City QA Log <br /> Capstone QA Log <br /> EDA Minutes <br /> Study <br /> Form Review <br /> Inbox Reviewed By Date <br /> Kurt Ulrich Jo Thieling 03/23/2017 10:14 AM <br /> Patrick Brama(Originator) Patrick Brama 03/23/2017 10:15 AM <br /> Kurt Ulrich Kurt Ulrich 03/23/2017 03:17 PM <br /> Form Started By:Patrick Brama Started On:03/20/2017 04:52 PM <br /> Final Approval Date:03/23/2017 <br />