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Motion by Member Lindahl, seconded by Member Stewart, to approve the April 9, 2026, minutes <br />as presented. <br />A roll call vote was performed: <br />Member Bauer aye <br />Member Johnson aye <br />Member Hills aye <br />Member Lindahl aye <br />Member Riley aye <br />Member Stewart aye <br />Chairperson Wiyninger aye <br />Motion carried. <br />4. EDA BUSINESS <br />4.01: Consider Recommendation for Tax Increment Financing Assistance for Trident <br />Development <br />Economic Development Manager Sullivan <br />Roger Fink, Senior Vice President of Tride D= op oduced himself and provided <br />background information o c .s pany. He s . that Tn • t focuses on multi -family housing, <br />both market -rate apartents an. or living, a , ' provided information on the communities that <br />they have created aontinue to n and opera e stated that their management is handled <br />by LifeSpark, which brings the highest level of car . residents of these communities. He stated <br />that they use L on Contracting for constructio a, • - ng other complexes within The COR that have <br />also been cLyon. commen - . ' at Trident has been watching the senior market <br />in the m o for man , an sey has always been of interest to them. He believed that <br />the timing was right to a.. ire senior hosing to this market. He stated that they are considering <br />a contin of care cam whiclincludes independent senior living, assisted living, and <br />memory ca e stated tha, Preliminary Plat request will come forward to clean up the lot <br />boundaries an. .te a parce or the TIF District. He provided additional information on why <br />this number of a .roposed, noting that the property would be staffed 24/7, with a commercial <br />kitchen and dining well as other amenities. He stated that the independent senior living <br />building would be adj nt to the assisted/memory care facility, and the details for that project, <br />including the numbe of units, are still being finalized. He commented that of the projects they <br />have completed, half of them have received some type of financial assistance through TIF, many <br />of which have involved Ehlers underwriting. He provided information on the proposed timeline <br />for the project, hoping to break ground this fall. He thanked the EDA for considering this <br />application. <br />Chairperson Wiyninger asked if an economic impact study has been done or whether there is an <br />anticipated amount of revenue that would be brought into the community. <br />Economic Development Authority/ May 14, 2026 <br />Page 2 of 4 <br />