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larger stormwater pond would be a benefit, he would like to know as EDA dollars could be <br /> contributed towards the cost for acquiring that portion of property. <br /> Member Riley commented that this area is commercial/industrial, and this stormwater pond would <br /> seem to make the area more usable and better for future development. He stated that the road <br /> improvement project would also seem to enhance the value of the area to increase interest in <br /> development of this area. <br /> Economic Development Manager Sullivan agreed that typically a road project would not fall under <br /> the review of the EDA but explained that City utilities will dded in order to attract future <br /> development. <br /> Member Johnson stated that once the dome is constructed that could attract different ancillary uses <br /> to the area. <br /> Economic Development Manager Sullivan agreeA Fatthere has been `ot of discussion about the <br /> development interest that a sports dome could bring. <br /> AL <br /> Member Riley stated that the proposed location seems to be a great spot for the reg al stormwater <br /> pond. He asked if there would be more developable land for the northern prope ies. <br /> Economic Development Manager Sullivan provided background information on stormwater in this <br /> area noting that the three parcels marked in red would nefit from a larger stormwater pond not <br /> all of the properties in the <br /> Member Olson aske e propo regional pond would elim nate or reduce the onsite ponding <br /> for the ARAA site, whi Id e _d parking on that site. <br /> Economic Development Manager Sullivan replied that would provide more flexibility for ARAA <br /> to reduce the stormwater treatment*he <br /> ided onsite. <br /> Chairperson MacLennan state*hat the regional stormwater pond concept. He stated that <br /> everything east of Ferret Street is�designa COR and could have retail shopping uses. He stated <br /> that ultimately as a ember of the EDA he would like to see the two rental properties redeveloped <br /> with more desired He asked if the building on the PSD property would be demolished. <br /> Economic Development4 <br /> r Sullivan replied that PSD has communicated to the city that it <br /> will will be demolishing tha uilding when this project moves forward. <br /> Chairperson MacLennan asked where the pond is for that property. <br /> Economic Development Manager Sullivan identified the existing pond for that property. He noted <br /> that the regional stormwater pond is still hypothetical and will depend on how the sports dome <br /> project moves forward. He stated that his intention was to determine whether the EDA would find <br /> it beneficial to provide some funding for that enhancement in return for the economic benefit that <br /> could be received in return. <br /> Economic Development Authority/February 9. 2023 <br /> Page 6 of 9 <br />