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<br />167th Avenue and Hwy 47 Commercial Node <br /> <br />By: Sean M. Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />Case # 3 <br /> <br />At the April 19 EDA meeting consensus was reached by the Authority to meet with the owners <br />of the properties located in the NW Quadrant of 167th Avenue and Hwy 47. The Economic <br />Development Coordinator and.the EDA Vice Chair met with Bob Muller and Kevin Johnson on <br />August 13th. At the meeting Staffwas notified that Mr. Muller had sold the strip center south of <br />167th to 5th Street Ventures in the past week. Muller intends to operate a downsized grocery <br />component on the north side and is planning lease the remainder of the building space. He also <br />said that he would be willing to sell the northeast comer if the right offer were presented. <br />Landmark bank is satisfied with the current operation of its businesses at that location and is <br />contemplating an expansion in the next few years. The general consensus was that there was <br />nothing in particular that the City could do to assist them right now. Some ideas presented by <br />Mr. Muller were the creation of a TIF district and to put a signalized interchange on the comer. <br />Staff was confident that the owners appreciated the dialogue and that this ongoing <br />communication could be beneficial to the node. <br /> <br />Funding Source: <br /> <br />None <br /> <br />Recommendation: <br /> <br />Staff recommends continued dialogue that adds 5th Street Ventures that will serve as a pulse on <br />how the comer is operating. <br /> <br />EDA Action: <br /> <br />None. <br /> <br />EDA: 9.6.07 <br /> <br /> <br />22 <br />