Laserfiche WebLink
III. PRIMARY ISSUES TO CONSIDER <br /> <br />IV. <br /> <br />What is to be accomplished through execution of joint <br />development agreements and/or cooperative marketing <br />agreements with these property owners? <br /> <br />The end product is proposed to be an agreement which will provide <br />certain price guarantees on the sale of the land to developers; in <br />addition to streamlining the process of such sale to a developer. <br />Also the agreements will hopefully provide the EDA with more <br />flexibility in the marketing of such property to prospective <br />developers. The agreements will help define closing costs, <br />completion of environmental testing, surveys, title issues, and other <br />various issues involved in a real estate transaction in order to <br />generally make the process of closing on acquisition of such <br />property easier to accomplish within a short time frame. <br /> <br />· What other sources of funding are available to cover the <br /> anticipated costs? <br /> <br />The EDA does have the ability to utilize a portion of its reserve for <br />this purpose, however, they determined it would be appropriate to <br />make this request to the Council to fund this activity. <br /> <br />· What is the time frame for completion of these negotiations? <br /> <br />Staff intends to initiate the negotiation process as soon as a funding <br />source is determined. Staff is hopeful the first agreement with <br />Tony Emmerich, Country Ridge Partnership, will be in place by <br />mid September, 1997. Agreements with Bill Gagne and the Wilson <br />family are, at this time, a second and third priority. However, staff <br />intends to begin the negotiation process with these two property <br />owners shortly after the initial meetings with Tony Emmerich. <br /> <br />CONCLUSION <br /> <br />In conclusion, staff recommends approval of $3,780 from the Council <br />Contingency Fund to be used for economic development activities <br />associated with the west Business Park. Staffs recommendation is <br />supported by a unanimous vote of the EDA, whose meeting minutes <br />are attached to this memo. <br /> <br />V. ATTACHMENTS <br /> <br /> <br />