Laserfiche WebLink
Ms. Allegra replied that the demand study would confirm additional details. She stated that they <br /> are suggesting a mid to high scale hotel, providing examples. She stated that they would also like <br /> to be able to accommodate extended stay and family stays with suites and a pool. <br /> Chairperson Olson asked for clarification on the action before the EDA today. <br /> Economic Development Manager Sullivan replied if there is consensus that the EDA is willing to <br /> consider a land cost write down, that would be good for the developer to hear. He confirmed that <br /> additional work would be done at a later time to support the land cost and potential write down. <br /> Motion by Member Johnson, seconded by Member Wiyninger, to recommend to City Council to <br /> enter into the LOI with The Schiebout Family Limited Partnership, LLLP as presented, subject to <br /> City Attorney review. <br /> Further discussion: Member Riley commented that he supports this action, noting that this would <br /> be a three month hold on the land while the study is being completed. He stated that the idea of a <br /> land cost write down was similarly discussed three years ago and therefore he would also support <br /> the idea of that. He noted that the related work would then be done at a later date. Member <br /> MacLennan commented that the potential sports dome could also bring in clients to a hotel. Ms. <br /> Allegra confirmed that they have been alerted to that potential which is why they are included <br /> features attractive to families in their discussions. Member Stewart asked if the City would receive <br /> a copy of the study. Ms. Allegra stated that if they move forward, they would provide a copy to <br /> the City,but if they pullback from the project,they would like to keep the study private. Economic <br /> Development Manager Sullivan replied that it was his impression that the City would be able to <br /> keep the study regardless and would require that as part of this process. He stated that there is <br /> other interest in the site and typically the City would require earnest money that would not be <br /> returned in order to hold the site. He confirmed that he would want that included in the agreement <br /> and noted that would be finalized prior to the City Council review. He noted that if the language <br /> is not included, the item will not move forward to the City Council. <br /> A roll call vote was performed: <br /> Member Johnson aye <br /> Member MacLennan aye <br /> Member Stewart aye <br /> Chairperson Olson aye <br /> Member Wiyninger aye <br /> Member Riley aye <br /> Member Howell aye <br /> Motion carried. <br /> 4.04: 2022 Business Appreciation Day Event Planning <br /> Economic Development Manager Sullivan presented the staff report. <br /> Economic Development Authority/April 14, 2022 <br /> Page 5 of 8 <br />