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Member Schindel asked whether there are any expenses related to the land. <br />Economic Development Coordinator Sullivan replied the demolition cost of the building was <br />paid through TIF District No. 2. <br />Member Kiefer asked whether the appraisal should be corrected to eliminate the building with a <br />value of $80,000. <br />Economic Development Coordinator Sullivan responded in the affirmative. <br />Economic Development Consultant Mulrooney indicated Zero -Zone could have bought this <br />property for much less previously, but was unable to with the management/ownership situation. <br />Zero -Zone is not getting any write -downs on the land, and has been told they will not in the <br />future. <br />Member Steffen asked if Zero -Zone would be likely to relocate if they are unable to purchase <br />this land. <br />Economic Development Consultant Mulrooney responded in the affirmative. <br />Member Strommen commented this purchase is ideal. <br />Member Schindel concurred. <br />Motion by Member Steffen, seconded by Member Schindel, to recommend approval of the sale <br />of 6030 Bunker Lake Blvd NW to Zero -Zone Refrigeration for $440,000. <br />Further discussion: Member Kiefer asked if the purchase agreement will clearly delineate th <br />access. Economic Development Coordinator Sullivan responded in the affirmative. <br />Motion carried. Voting Yes: Chairperson Riley, Members Steffen, Schindel, Kiefer, and <br />Strommen. Voting No: None. Absent: Members Elvig and LeTourneau. <br />Case #3: HRA Survey <br />The EDA discussed the HRA Survey. <br />Case #4: Staff Update <br />The EDA reviewed the Staff Update. <br />5175 142 " Avenue NW: Economic Development Coordinator Sullivan indicated the grass will <br />be cut and a For Sale sign will be posted on this site. Member Strommen requested that staff .• <br />also look into the situation with the light poles and the phone booth that are still on the site. <br />Member Schindel asked if there are any environmental concerns or limitations on the site. <br />Economic Development Coordinator Sullivan replied there are limitations on the site; it cannot <br />Economic Development Authority / July 13, 2006 <br />Page 3 of 4 <br />