Agenda - Economic Development Authority - 07/08/2021

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Economic Development Manager Sullivan commented that there is open communication with the developer and the volume about the potential prospects has increased recently. He stated that retailers are starting to look in the market again following the pause during COVID. Member Riley commented that it is clear as to why nothing has happened in the last year but is optimistic for the future. He stated that the fact the developer is willing to put in another $10,000 is great and he supports this action. Member MacLennan commented that he also supports this as the developer is interested, is willing to put up more money and is putting in the effort. Acting Chairperson Cords commented that this has been ongoing for two years by the end of the proposed term and it sounds like the $50,000 that will have been put into this by the developer would be equal to payment of the property taxes. He stated that he also likes that there is someone that is willing to continue to put money and effort into this. Motion by Acting Chairperson Cords, seconded by Member MacLennan, to recommend approval of Fourth Amendment to Purchase Agreement for Lots 1, 2, and 3, Block 1, COR TWO, subject to City Attorney review. A roll call vote was performed: Member Howell aye Member Riley aye Acting Chairperson Cords aye Member MacLennan aye Member Johnson aye Member Olson aye Motion carried. Chairperson Steffen rejoined the group. 1.03: Consider Offers for Outlot B Ramsey Town Ccntcr 7 b Item previously removed from the agenda. 5. MEMBER / STAFF UPDATE Economic Development Manager Sullivan stated that invitations will be sent out for Business Appreciation Day this week and asked if there is a meal preference between steak or prime rib. He commented that Wells Catering was selected for the caterer. It was the consensus of the EDA to choose prime rib. Economic Development Authority/ June 10, 2021 Page 5 of 6