08-09-1993 EDA MIN - Laserfiche WebLink

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. . . Economic Development Authority Meeting August 9, 1993 Page 2 exploring those uses, but it i~ the intention that the facility would be city owned. Commissioner Scheel indicated that the proposed center does not reach out to all young adults, but rather, only to athletes and artists. President Gongoll responded by saying there is a need for a cross section of all uses. committee is trying it needs to talk operators to determine He suggested that this of community residents. to get as much to designers, if revenues will perhaps speaks President Gongoll stated the information as possible; that construction specialists, and cover the cost of the project. for the need of another survey President Gangoll indicated that the committee intends to bring this issue to a referendum in the fall. Executive Director Klaers indicated that a bond referendum can occur at any time. President Gongoll indicated that he will appear at a future Park and Recreation Commission meeting to obtain its input as well. 5. Financial Update Bill Rubin informed the EDA that the Revolving Loan Fund had a cash balance of $174,902.78 as of July 31, 1993; this balance excludes interest income earned on the fund. All loans were current. 6. Update on Main Street Redevelopment Site Bill Rubin informed EDA Commissioners that Chris Bulow, who holds the exclusive option on the property, was unable to attend the EDA meeting because of a work commitment. However, Mr. Bulow indicated that he is still working on the project and intends to bring information to the Commissioners at its September meeting. It was understood that the exclusive option expires on September 13, 1993. At this time, Commissioner Farber suggested that it may be time to begin considering filling up the site and converting it to a park or passive use. Commissioner Duitsman responded that this was one of his items under "Other Business". That is, Commissioner Duitsman will be asking the HRA to provide money to fill in the site. The HRA is scheduled to meet on 8/12/93 to discuss this matter. Commissioner Farber suggested that if this discussion goes beyond September, it may be getting late in the season to undertake the grading and compaction of the fill-in activities. Bill Rubin suggested that if this project were to be converted to a passive use, the EDA would likely want to deed the property back to the City. Commissioner Scheel suggested that staff put Mr. Bulow on notice that the EDA will not extend the exclusive option beyond the September 13th expiration date. 7. Execute Contract for a City Video Presentation