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Economic Development Authority Minutes September 9, 2002 Page 3 It was the consensus of the EDA that the criteria of $15.00 pex hour be set as the wage criteria if it is considered an average wage for jobs created or retained. It was the consensus of the EDA that the policy be reviewed by the Finance Conunittee. Consider Business Incubator Lease Extension for Vertical Publishing Economic Development Assistant Heidi Hall provided the background on the issue of Vertical Publishing and the lease extension fox the Incubator space. She indicated that for the past year Vertical Publishing has been charged $345.15 pex month for subleasing the Incubator space. Heidi indicated that the company had not occupied the space between October 2001 and July 2002 and therefore did not pay the rent for the time the space was unoccupied. Heidi stated that the company is now requesting that a third sublease be considered. Heidi stated that staff recommends that the outstanding rent be waived fox the past nine months because the company did not actually occupy the space. Ben Moyer, the new CEO of Vertical Publishing addressed the EDA regarding the issue and status of the company. COMMISSIONER DWYER MOVED TO APPROVE THE INCUBATOR SPACE LEASE EXTENSION FOR VERTICAL PUBLISHING WITH THE STIPULATION THAT $200 PER MONTH BE PAID ON THE BACK RENT AND THAT ANY REMAINING PAST DEBT BE DEALT WITH AT THE END OF THE SIX MONTH PERIOD. COMMISSIONER THOMPSON SECONDED THE MOTION. President Gongoll stated that he would like to waive the outstanding rent since the company did not occupy the space. Commissioner Klinzing concurred. COMMISSIONER KLINZING MOVED TO AMEND THE MOTION TO WAIVE THE OUTSTANDING RENT. COMMISSIONER KUESTER SECONDED THE MOTION. Commissioner Dwyer indicated that since the company has proposed to pay a portion of back rent, the EDA should see that it is collected because of the responsibility to the taxpayers. Commissioner Tveite indicated his concern regarding the precedent that would be set by dismissing the back rent. THE AMENDMENT FAILED 4-3. PRESIDENT GONGOLL AND COMMISSIONER KLINZING AND KOENIG VOTING AYE AND COMMISSIONERS DWYER, KUESTER, TVEITE, AND MOTIN VOTING NAY. THE MOTION CARRIED 7-0.