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<br />Economic Development Manager Sullivan commented that the developer has invested funds into <br />this process through the escrow, survey, platting and site plan processes. He stated that the <br />developer was ready to move forward but COVID hit harder than expected. He stated that the next <br />step in the process for the developer would be to pull a building permit, which has an additional <br />cost of $50,000 to $60,000 for the developer to obtain the necessary architectural plans. <br /> <br />Deputy City Administrator Gladhill stated that from the building inspections side, the developer <br />will need to pay for the plan review fee in addition to the building permit process costs. <br /> <br />Chairperson Steffen stated that he would be willing to offer a six-month extension with no <br />additional funds involved or a full year extension with some type of payment to the City. <br /> <br />Economic Development Manager Sullivan noted that would provide staff with the ability to <br />negotiate with the developer between now and the City Council review. He stated that ultimately <br />the City Council will make the decision on whether or not to extend the PA. <br /> <br />Member Cords stated that he is more comfortable with the suggestion of extending for six months <br />with no payment required and a review done after the six months. <br /> <br />Member Kuzma stated that these are weird times because of COVID and business in general is <br />struggling, especially hospitality. He stated that he wants to support this project and would be <br />willing to accept the PA extension for one year as stated in the case. <br /> <br />Member Riley stated that he understands and agrees that these are different times but feels strongly <br />that the City needs to get something in return for giving something. He believed that the City <br />should be cognizant of these trying times and make it an affordable payment that shows interest <br />and commitment to moving forward. He stated that the developer asked for one year and if six <br />months is provided, they could be back here in six months to discuss that again. <br /> <br />Deputy City Administrator Gladhill noted that the six-month extension could be provided with no <br />payment and the ability for an administrative extension after that for an additional six months. He <br />noted that if the second six-month extension is chosen, the earnest money could be triggered. <br /> <br />Chairperson Steffen commented that if the COVID situation persists and they are back in six <br />months to review this again, he believed that the EDA would be willing to grant the second <br />extension at no cost. He stated that he would hate to make that decision today when the future is <br />very uncertain. <br /> <br />Motion by Member Hardin, seconded by Member Kuzma, to recommend to City Council to <br />modify the Developers Third Amendment to Purchase Agreement proposal to extend the <br />Inspection Period 6 for six months, subject to City Attorney review. <br /> <br />A roll call vote was performed: <br /> <br />Member Heineman aye <br />Economic Development Authority/ August 13, 2020 <br />Page 4 of 7 <br /> <br />