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Economic Development Authority Minutes Page 2 <br />March 16, 2015 <br />----------------------------- <br />6.1 Lots I and 2, Block 2, Natures Edge Business Center Second Addition <br />Chair Tveite presented the staff report. He stated based upon the discussions the <br />authority had regarding the applicant's proposed purchase agreement at $1.00 with <br />no reimbursement to the city's development fund that this would jeopardize future <br />development within the city. He requested staff work with the applicant to develop a <br />win-win scenario for both parties, noting the importance of ensuring the applicant <br />continues to do business in the city. He stated the city wishes to remain positioned to <br />do future development as well as continue growing current development. <br />Commissioner Westgaard agreed and expressed the authority's desire to retain the <br />business in the city. <br />Commissioner Provo noted the positive impact of extending the road to join <br />Highway 10 at a cost of $2 million dollars and confident staff could create a potential <br />abatement package to create an offer that benefited both the applicant and the city's <br />future development plans. <br />6.2 Lots I and 2, Block I, Natures Edge Business Center Second Addition <br />Chair Tveite presented the staff report. He stated the authority was comfortable with <br />the proposal as presented and gave staff direction to proceed with the purchase <br />agreement along with the contingencies that are associated with it. <br />Moved by Commission Westgaard and seconded by Commissioner Dwyer to <br />accept the purchase agreement and authorize signing of such as presented in <br />the staff report for the purchase of Lots 1 and 2, Block 1, Natures Edge <br />Business Center Second Addition. <br />Motion carried 7-0. <br />6.3 Lot I, Block 2, Natures Edge Business Center <br />Chair Tveite presented the staff report. He stated the authority was comfortable with <br />the proposal as presented and gave staff direction to proceed with signing the <br />purchase agreement along with the contingencies that are associated with it. <br />Moved by Commissioner Dwyer and seconded by Commissioner Burandt to <br />accept the purchase agreement and authorize signing of such as presented in <br />the staff report for the purchase of Lot 1, Block 2, Natures Edge Business <br />Center. <br />Motion carried 7-0. <br />7. Announcements <br />There were no announcements. <br />P 0 M E B I IB Y <br />NREI <br />ATUR <br />