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4. EDA BUSINESS <br /> 4.01: Platinum Properties Purchase Agreement <br /> Economic Dev. Mgr/Assistant City Administrator Brama presented the staff report. <br /> Member Williams arrived at 7:36 a.m. <br /> Mr. Jeff Hagen, Platinum Properties made a brief presentation to the Board. <br /> Mr. Jason Aarsvold, Ehlers reviewed the project with the Board. <br /> Brian Pankratz thought this project fit what the City was looking for. <br /> RECESS AND RECONVENE <br /> Motion by Member Williams, seconded by Member Hardin,to recess to a closed session. <br /> Motion carried. Voting Yes: Acting Chairperson Skaff, Members Williams, Hardin, Brunt, <br /> Riley, and Williams. Voting No: None. Absent: Members Steffen and Burandt. <br /> The EDA Commission recessed at 7:40 a.m. <br /> The EDA Commission reconvened the regular meeting at 8:00 a.m. <br /> The Board thanked the speakers for their presentations. <br /> 4.02: CBRE Update <br /> Mr. Pankratz presented market overview to the Board. <br /> Member Hardin asked if the City should look at trying to market retail on the south side of Hwy <br /> 10. <br /> Mr.Pankratz stated they have done that in the past and have not had success to date but he thought <br /> it would be a good opportunity if they can attract retail users on that site. Access off of Armstrong <br /> now is fantastic. He thought this would bring in some competition for the north side of Hwy 10 <br /> and he thought the visibility would probably be a little better but there is no density there because <br /> of the river. <br /> Member Hardin asked if density a quarter of a mile away was a big deal for retail. <br /> Mr. Pankratz did not think so but stated the developers think it is because they will take a <br /> demographics study and review it for negative and positive components. <br /> The Board thanked Mr. Pankratz for his presentation and input. <br /> Economic Development Authority/October 6,2016 <br /> Page2of4 <br />