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Economic Development Authority (EDA) 5. 4. <br /> Meeting Date: 04/13/2017 <br /> Submitted For: Patrick Brama,Administrative Services <br /> By: Patrick Brama,Administrative Services <br /> Title: <br /> Update: GS Land PA Extension <br /> Purpose/Background: <br /> RE the attached GS Land PA(multiple documents,this PA was re-assigned from NIK management, and has also <br /> been amended). This PA is for the two-phased residential project, on the former municipal center campus (known <br /> as Harvest Estates). <br /> Staff has received a request from GS to extend the closing date on this PA by one year. Like other agreements, staff <br /> requested an additional non-refundable earnest money from GS Land in exchange for the proposed extension. The <br /> Council pre-arranged this potential extension in 2016 (via a formal resolution). GS Land will be providing $20,000 <br /> earnest money, $5,000 will be non-refundable immediately. That request is anticipated to reach the Council on <br /> 04/25/2017(will be an amendment). <br /> Staff connected with GS Land recently. They intend to move forward this project(i.e. Phase II). However,they <br /> need to make a little more progress with land sales on Phase I. <br /> Notification: <br /> Observations/Alternatives: <br /> Funding Source: <br /> Recommendation: <br /> Action: <br /> Attachments <br /> NIK PA <br /> Amendment 1 <br /> Re Assignment to GS Land <br /> Form Review <br /> Inbox Reviewed By Date <br /> KurtUlrich Kathy Schmitz 04/10/2017 10:04 AM <br /> Form Started By:Patrick Brama Started On:04/03/2017 01:27 PM <br /> Final Approval Date:04/10/2017 <br />