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Member Hardin stated that the interactive piece is a good feature to have. <br />Motion by Member Hardin, seconded by Chairperson Steffen, to approve marketing contract <br />with WSB for Option B and COR Mapping Update for a cost not to exceed $6,500. <br />Motion carried. Voting Yes: Chairperson Steffen, Members Hardin, Burandt, Kanaventi, and <br />LeTourneau. Voting No: None. Absent: Members Lambrecht and Riley. <br />5. MEMBER / STAFF UPDATE <br />5.01: Receive Update on Concept Plan for Hotel/Multifamily Development in The COR; <br />Case of Allied Development <br />Economic Development Manager Sullivan stated that a proposed development concept was <br />included in the Board packet. The concept includes a hotel with retail on the first floor on the <br />site owned by PSD. He stated that the second phase would include housing along Center Street. <br />He stated that staff believes that this type of development in the area would be beneficial. <br />Chairperson Steffen noted that this project would be in the right spot and encouraged staff to <br />continue to explore this project. <br />Member Hardin asked if there would be underground parking for the hotel. <br />Economic Development Manager Sullivan noted that this is very preliminary in nature and there <br />is not underground parking proposed at this time. He stated that surface parking with the <br />potential structured parking ramp would be possible. <br />Chairperson Steffen stated that there are unique features with retail on the first floor and a hotel <br />above, with housing to come connected to that product. He expressed support for the project. <br />Member Burandt stated that he would also be supportive of hearing more about this project and <br />moving forward. <br />Economic Development Manager Sullivan noted that he communicate on the support of the EDA <br />to the developer. <br />Member LeTourneau stated that perhaps a comment should be made about parking. He noted <br />that initially surface parking is considered but would like to see structured parking as an element <br />not only for this use but as a shared use as the community continues to build out. <br />Chairperson Steffen noted that it would depend whether the structured parking would be an <br />amenity for the hotel or the City. He noted that if the benefit is to the City, then the City would <br />consider sharing in the cost if the structure. He stated that the sketch does show structured <br />parking and asked if that was brought forward by the developer or suggested by staff. <br />Economic Development Authority/ December 6, 2018 <br />Page 6of7 <br />