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on the one-month extensions which would allow for a total of six months, noting that there <br />would be no benchmarks required during that time. <br /> <br />Member Hardin asked if there are requirements for the developer to keep the City updated on <br />conversations with tenants. <br /> <br />Economic Development Manager Sullivan stated that the conversations will be ongoing with the <br />developer but that there are no requirements. He stated that the developer would like to have a <br />primary tenant known for building one by June of 2019. He stated that the layout and buildings <br />will go before the Planning Commission for review prior to construction. <br /> <br />Mr. Hardy stated that the proposed tenants would meet with the City staff directly to obtain <br />additional details. <br /> <br />Member Kuzma asked for additional details on CBRE commission. <br /> <br />Economic Development Manager Sullivan stated that CBRE would be paid commission once <br />when the purchase of all three lots are sold in one deal. <br /> <br />Acting Chairperson Burandt stated that it is exciting to have a developer with a plan that wants to <br /> <br /> <br />Mr. Hardy stated that even if his project were to fail and not move forward, he would still <br />provide the City with any of the work product that he has completed on the site such as phase <br />one environmental plans or any engineering information. <br /> <br />Motion by Member Riley, seconded by Member Hardin, to recommend to City Council approve <br />the Term Sheet and Purchase Agreement for Lots 1, 2 and 3, Block 1, COR TWO subject to City <br />Attorney approval. <br /> <br />Motion carried. Voting Yes: Acting Chairperson Burandt, Members Riley, Hardin, Kanaventi, <br />and Kuzma. Voting No: None. Abstain: Chairperson Steffen. <br /> <br />Chairperson Steffen rejoined the EDA. <br /> <br />4.02: Listing and Marketing of City Owned Land <br /> <br />Economic Development Manager Sullivan presented the staff report and the recommendation <br />that the City remove B & A Cylinder (Site 37A) from the CBRE listing agreement and to <br />schedule a joint worksession between the EDA and City Council to allow for a broader <br />discussion on City property listings and marketing strategy. <br /> <br />Chairperson Steffen asked for details on the three properties that are currently under contract. <br />Economic Development Manager Sullivan provided details on those properties. <br /> <br />Brian Pankratz, CBRE, stated that he has a great relationship with City staff, EDA and the City <br />Council throughout the years. He stated that although B & A Cylinder site is included in the <br />listing, that site is not being actively marketed. He stated that for some reason that sign gets the <br />Economic Development Authority/ January 10, 2019 <br />Page 3 of 6 <br /> <br />