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Mr. Krogh stated that once they are under contract, they will begin civil architecture. He noted <br />that they have letters of intent or verbal commitments with the phase one tenants. He noted that <br />the phase one tenants are fast moving and therefore believes that will be done in 2022. He stated <br />that the phase two tenants are slower moving and therefore it is unlikely that would go through in <br />2022. He believed they would start entitlement for phase two in late summer of 2022 with a 2023 <br />deal. <br />Member MacLennan asked if the tenants could be elaborated on. <br />Mr. Krogh stated that there is a quick service Mexican concept restaurant, a carwash, drive-thru <br />only coffee shop, and a dollar store. He noted that there is a financial institution interested and <br />they are trying to figure out how that could fit into the plan. He stated that they could swap out <br />the dollar store for the financial institution. <br />Member Olson commented that this sounds good, and he did not have any questions. <br />Motion by Member MacLennan, seconded by Member Howell, to recommend to City Council to <br />approve Purchase Agreement on Parcel 50 with Java Properties as presented, subject to City <br />Attorney review. <br />A roll call vote was performed: <br />Member Olson aye <br />Member MacLennan aye <br />Chairperson Cords aye <br />Member Riley aye <br />Member Howell aye <br />Motion carried. <br />4.02: Receive 2021 Business Expo Summary and Select 2022 Venue <br />Economic Development Manager Sullivan presented the staff report. <br />Member Riley commented that it was a good event. He stated that attendance was expected to be <br />down and recognized that the decision was made to get the event back on track with the expectation <br />for lower numbers. He agreed that the April time of year is a better time for the event. He stated <br />that perhaps they can consider new ways to reach people and market the event. <br />Member MacLennan stated that the venue was great for the event. He agreed that it was important <br />to get this back on track even though there were lower numbers. He believed that spring would be <br />a better time of year for the event. <br />Economic Development Manager Sullivan reviewed the details for the proposed 2022 event. <br />Economic Development Authority/ November 18, 2021 <br />Page 3 of 6 <br />