Laserfiche WebLink
<br />Member Olson asked if there is a specific type of contractor that would be used to complete the <br />renovation that specializes in historical buildings. <br /> <br />Economic Development Manager Sullivan replied that is not required. He noted that the RCP <br />report would be shared with a contractor to identify the things that would need to be followed. <br /> <br />Member Riley commented that if this is leased to a for profit entity, this would become a taxable <br />property and this would also provide an opportunity for a local business owner. He referenced the <br />miscellaneous cost budgeted and noted that while that is a healthy amount he would wonder if that <br />should be increased because of the unknown items that could arise. <br /> <br />Economic Development Manager Sullivan replied that if the EDA decides to move forward, staff <br />would go out and get quotes with a cost not to exceed $50,000. He stated that the City Council <br />could choose to increase the contingency. <br /> <br />Member MacLennan referenced the lease proposal and asked if this would be a three-year lease. <br /> <br />Economic Development Manager Sullivan confirmed that the proposal would be for a three-year <br />lease at this time. <br /> <br />Member MacLennan asked if that length could be extended to five years to ensure the City receives <br />a return on the investment. <br /> <br />Economic Development Manager Sullivan commented that while that is a good discussion, that <br />would be a big ask for a start-up business that is moving from an online format to a brick and <br />mortar location. He reviewed some of the offers the City has received in the past to lease the <br />building. He commented that if the condition of the building is improved to support a business, <br />the City would most likely not have a problem leasing the space for another use. <br /> <br />Member MacLennan asked if the monument sign would be the cost of the business, or whether <br />that would remain in place to be used by a future user as well. <br /> <br />Economic Development Manager Sullivan replied that it would depend upon the type of sign the <br />business chooses. He stated that it would be wonderful to have an interchangeable sign, but that <br />would be discussed as this moves forward. <br /> <br />Chairperson Steffen asked if this was on the City’s radar regardless of whether this is being brought <br />forward because of the interest of the tenant. <br /> <br />Economic Development Manager Sullivan replied that this was on the radar of the City, but <br />perhaps not at the top of the list. He stated that the City does continue to receive interest in the <br />site, but it does not move forward because of the condition of the building. <br /> <br />Member Olson asked if the web address for the business is available. <br /> <br />Economic Development Authority/ June 10, 2021 <br />Page 3 of 6 <br /> <br />