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<br /> <br />Chairperson Riley asked if moving the building would change the bank's interest. Member Elvig replied the building would retain its historical value if it remains on the property. <br /> The bank is interested in using the building for some type of a meeting room or community center with fairly minimal use. Their purpose would be to leave the building there and use <br /> it as a part of their facilities. The City Administrator had noted that buying a property like that from the City could be complicated. <br /> <br />Assistant City Administrator Nelson indicated she received 7 to 10 calls from folks in the community with interest in the building, which is what drove it back to the EDA to determine <br /> what should be done with the building. If a company were willing to come forward and put dollars towards the renovation of the building it might make sense. The Council had expressed <br /> a desire to keep the building in the public realm, which is complicated on the current site. To complete the renovation will require approximately $150,000 and dealing with the site <br /> issues. She indicated she has an appointment this afternoon with Landmark Bank to show them the property. <br /> <br />Member Strommen stated her recollection is that there was strong interest in incorporating the building as a public feature into the Town Center, and that there would be a discussion <br /> with RTC, LLC regarding this. <br /> <br />The consensus of the EDA was that the discussion of the old Town Hall should be brought back to the Council. <br /> <br />Assistant City Administrator Nelson left the meeting at 8:25 a.m. <br /> <br />Case #2: Command Corporation Property Acquisition <br /> <br />Economic Development/TIF Specialist Sullivan reviewed with the EDA that staff as been approached by Minks Custom Homes to develop a site on Sunfish Lake Court. The proposed project <br /> calls for an initial office/warehouse building of 20,048 square feet. A future expansion of the 10,360 square feet is proposed for the project at a later date. Currently the land <br /> needed for this project is held by two property owners. National Growth owns a .88 acre parcel and Command Corporation owns the remaining 1.67 acres needed to complete the project. <br /> National Growth is a willing seller and it is undetermined if Command Corporation would be a willing seller. Last year the City approached Command Corporation and asked whether they <br /> would be interested in selling their property to the City. The asking price was $3.25 square feet and the willingness to sell was in question. The project would be an excellent fit <br /> for this area because it would provide high quality development at an important entry point corridor of the City. <br /> <br />Economic Development/TIF Specialist Sullivan explained currently both parcels in question sit vacant and are not well maintained. The development that has occurred in recent years around <br /> this area has made the "natural" area more noticeable. Command Corporation owns a parcel totaling 2.5 acres and it would be beneficial but not necessary for the new developer to utilize <br /> the entire parcel for a more diverse development. Only 72,800 square feet would be required to complete phase one of the proposed project. Staff is asking for authorization to enter <br /> into