11-13-2007 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes November 13, 2007 Page 2 Mr. Barnhart stated that staff met with Cargill to provide them with an update on the city's plans for the Gateway property. He explained that the agreement that is in place between the city and Cargill states that Cargill must be given 90 days notice when the city portion of the property is to be developed and six months notice when the Cargill portion of the property is to be developed. He stated that the property includes the connecting road from 165 Avenue to 171~~ Avenue. He stated that staffs understanding is that the plan is to not develop the road at this time. Commissioner Motin questioned if Cargill should be given notice since the current development is planning a June groundbreaking. Mc Bamhart stated that if the plan is to develop or improve the road in the near future the city may want to give Cargill notice. Commissioner Motin questioned if the developer has requested the additional access. Mr. Bamhart stated that they have not. He noted that improvements to the connecting street may be included as pazt of the development analysis. Mr. Clark noted that developing the through street from 165w to 171s~ Avenue is also a financial issue. He stated that current cost estimates for improvements, including utilities and wetland mitigation, are in upwards of $4 million. He indicated that it may advantageous for the city to phase in the development and road improvements. Commissioner Moon questioned if six months notice should be given in order to lock in the alignment. Mr. Bamhart explained that the agreement between Cargill and the city establishes the alignment and staff understands no change is proposed. Mr. Bamhart noted that six month notice could be given iE the desire is to begin preliminary grading work soon for the road alignment. 6. Tlpdate on nt rtainment (' r r Pr~gxr Director of Economic Development Catherine Mehelich indicated that staff is continuing discussions with Energy Entertainment Enterprises, LLC. on refining site plans to work with the current road alignment. She stated drat staff is working with Ehlers & Associates to complete the tax abatement application process. She stated that staff is also working with the developer to obtain the necessary information for Ehlers and Associates to conduct a due diligence on the financial feasibility analysis. Ms. Mehelich indicated that an update will be provided at the December EDA meeting. lpdate nn Fine Dining Recta, r~r pro~~ Director of Economic Development Catherine Mehelich explained that staff is working with Umbria - La Cucina Italiana, the developer of the proposed Assissi/Level fine dining and night club. Ms. Mehelich stated that staff has been working to obtain information for Ehlers to conduct a due diligence on the financial feasibility analysis. Ms. Mehelich indicated that the developer has expressed strong concerns on the timeframe for securing the property. She stated that the developer is continuing to explore the economics of locating elsewhere.