Minutes - Economic Development Authority - 04/08/2021

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Deputy City Administrator Gladhill commented that there is no deadline to this request and therefore the EDA could consider this an introduction to the topic and further discussion could continue at the May meeting. He stated that there are no current offers or time restriction. He stated that additional questions could be provided to staff through email, which staff could then use to build a case for May. Economic Development Manager Sullivan commented that is a good way to look at this. He stated that there are two parts to this, the potential acquisition, and the vision for the future. He stated that he would like direction to authorize the design using HRA or TIF funds to develop a cost estimate for the utility work. He commented that this area is within a TIF District and the City has the ability to complete projects with that TIF revenue. He stated that the City has applied for an extension of the district through legislation but if that is not approved, the funds would have to be expended by November of 2021. He stated that this could move forward on a parcel-by-parcel basis as well. He was unsure what more would need to be discussed at the next meeting unless there are specific questions. He asked for general direction. Member Cords commented that staff indicated that three of the property owners have indicated that they are willing to sell and asked if there is an urgency by any of those sellers. Economic Development Manager Sullivan commented that the momentum of those sellers is between casual and pushing. He noted that there are for sale signs posted, which expresses intent. He felt that some of the parcels have frustration as to what can and cannot be done on the property and therefore perhaps are having difficulty finding tenants and are more open to selling. He commented that there is not an extreme urgency from any of the properties, but they would like to sell. He noted that sometimes it is beneficial to take advantage of willing sellers in a redevelopment area. Member MacLennan agreed that the area is a blight. He agreed that access to City water and sewer would improve the chances of development. He stated that he would not want to see the City own more land. He commented that it could be a detractor for people to develop on the east side when the west side looks as it does. Chairperson Steffen referenced parcel two, which needs cleanup. He commented that the parcel is retail and not prime retail and therefore the City could clean it up but would most likely own the property for a length of time. He recognized that cleaning up the site may increase the chances of other properties developing in the area. Economic Development Manager Sullivan commented that parcels two and three could be combined for an office showroom type building. He stated that he would not want to discount those parcels as unable to move in the market but agreed that the City would want to be strategic in the parcels it acquires and the timing. He stated that bringing in sewer and water may help to facilitate the redevelopment and sale of properties. He believed that the design would need to be done and the cost estimate would need to be known in order for the City to be able to act. Economic Development Authority/ April 8, 2021 Page 10 of 12