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Public Hearing <br />Mayor LeTourneau called the public hearing to order at 7:17 p.m. <br />Presentation <br />Economic Development Manager Sullivan reviewed the staff report and recommendation of the <br />EDA to approve the Business Subsidy, TIF Development Agreement and the Right of Re -Entry <br />Agreement protecting the City interest in the development property and support the early land <br />sale transaction. <br />Citizen Innut <br />There was none. <br />Motion by Councilmember Riley, seconded by Councilmember Menth, to close the public <br />hearing. <br />A roll call vote was performed by the City Administrator: <br />Mayor LeTourneau aye <br />Councilmember Riley aye <br />Councilmember Menth aye <br />Councilmember Heinrich aye <br />Councilmember Kuzma aye <br />Councilmember Specht aye <br />Councilmember Musgrove aye <br />Motion carried. <br />The public hearing was closed at 7:26 p.m. <br />Council Business <br />Councilmember Riley stated that the EDA has discussed this item. He stated that the City is <br />giving the land away but will be made whole through the TIF process. He noted that there is a <br />claw back provision included through the right -of -reentry, therefore the City is protected. He <br />commented that he is excited for a hotel and restaurant. <br />Councilmember Menth stated that he does not see a downside as this is a developer that will <br />provide jobs and a desired service in the community. <br />Motion by Councilmember Musgrove, seconded by Councilmember Kuzma, to Adopt <br />Resolution #20-082 Approving a Business Subsidy and Authorizing Execution of a Development <br />Agreement, Right of Re -Entry Agreement and Approving Terms of an Interfund Loan. <br />City Council / April 28, 2020 <br />Page 5 of 12 <br />