10-12-1992 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minu~es October 12, 1992 Page 2 . 6. Consider Development Agreement Between Elk River EDA and Corporation, Inc. Tescom This item was deleted from: the agenda and will be considered at the November EDA meeting. 7. Consider Site Preparation Altetnatives for Lot 8, Elk River Industrial Park Bill Rubin reminded the EDA o~ its obligation to remove the excess fill stockpiled on Lot 8 which is aFsociated with TIF District No. 9 and the Tescom transaction. Bill! Rubin stated that he has located a contractor, A.N. Johnson, who I could use part of the material and further stated that the City could use a portion of the material for the Highway 169/Main Street Prbject. He stated that the City Council reviewed this matter on October 5, 1992, with the understanding that the EDA has the final authority in the removal of the fill as it is an EDA owned site. Bill Rubin stated that A.N. Johnson has agreed to work with Tescom's building contractor and architect to ensure that a finished grade close to Te~com's elevation is accomplished following the removal of the fill. . COMMISSIONER TRALLE MOVED TO AUTHORIZE A.N. JOHNSON AND THE CITY OF ELK RIVER TO DISPOSE OF THE EXCESS FILL MATERIAL ON LOT 8 AS A SITE PREPARATION ALTERNATIVE. COMMISSIONER KROPUENSKE SECONDED THE MOTION. THE MOTION CARRIED 7-0. 8. Expiration of 180 Day Exclusive Option on the EDA Main Street Redevelopment Site Bill Rubin, Economic Development Coordinator stated that on April 13th the Economic Development Authority authorized a 180 day Exclusive Option with REP, Ltd., and that the option expires on October 12. Gary santwire, representing REP, ~td., was present to discuss the Exclusive Option. i Gary Santwire presented the EDA with a site sketch of the property. The site sketch included an atrium over an interior portion of the building which creates a wal~ay to the river. Gary Santwire stated that the high roof creates !a historic look and further indicated that the goals are to retain pedestrian areas, to service the river by using balconies, to draw people ihto the shop areas, and to be able to lease the space. Gary Santwire infqrmed the EDA that he is at a point where he can proceed with the project, but needs an extension on the Option Agreement. He requested a six month extension from the EDA and stated that construction could begin in April. Gary Santwire stated that he would be proposing to develop !the area through a PUD. . Gary Santwire stated that the ialley would have to be vacated in order for the project to work. He suggested that the existing utilities would have to be dealt with. commissioners Dwyer and Krdpuenske indicated that they liked the proposal.