03-11-1991 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes March 11, 1991 Page 2 e controlled by the Council. Because TIF Plans No. 1 and No. 3 are proposed for modification to allow for the acquisition of the Jenne site, it is likely that the City Council, rather than the EDA would be acquiring the site. Pat Klaers stated that the purchase agreement should be between the City and Ms. Jenne. He indicated that once this is accomplished, the ti tle could be transferred to the EDA. He indicated that the EDA should have control of the property because they will be the entity marketing the property. 7. Marketin~ options on Jenne site The Executive Director indicated that the EDA should be considering uses it would prefer to see on the Jenne site. e Bill Rubin discussed marketing options with the EDA. He offered several options which consisted of a Request for Proposals (RFP's), the EDA marketing the site, or having a real estate broker market the site. The EDA felt that if a real estate broker were involved, the EDA must establish a commission fee. Commissioners Gongoll and Dwyer felt that there may be local people interested in marketing the site and that this avenue should be tried before contacting a real estate or brokerage firm. The EDA discussed possible incentives that could be offered for the si te. Commissioner Tralle indicated that the main priority should be to develop the site and that the City should try to get the most property tax out of the property. He suggested offering a sliding scale as an incentive which would be dependent on the amount of dollars put into the development. Commissioner Holmgren indicated he felt that the EDA should first see who is interested in the site before offering incentives. Tim Keane suggested that the City put in writing what it wants to accomplish with the property. He also suggested that the EDA try local marketing for a short time and if this doesn't work then market on a larger basis. Commissioner Dwyer felt that the EDA should have an idea of what the property will be sold for so that developers have something to work with. He indicated that he agreed with the sliding scale concept. Bill Rubin informed the EDA that these items will be discussed in more detail at the next EDA meeting. 8. Desi~nate A~ency of Record for Mark~tin~ Brochure Project e Bill Rubin indicated that he has contacted four agencies in regard to putting together a City brochure. He indicated that three of the four agencies were interviewed. He recommended the selection of CEP Art and Design, which is a local company.