02-08-1999 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes February 8, 1999 Page 3 e Commissioner Bender questioned the location of the sign near Lake Orono and the plan for construction of future monument signs at the city's entrance. COMMISSIONER FARBER MOVED TO APPROVE THE FUNDING OF UP TO 50% (NOT TO EXCEED $10,500) OF THE ESTIMATED $21,000 TOTAL CONSTRUCTION COST FOR A NEW CITY ENTRANCE MONUMENT SIGN. COMMISSONER KLINZING SECONDED THE MOTION. THE MOTION CARRIED 4-2. Commissioners Bender and Motin opposed. 6. Consider Reauest for $50,000 Micro Loan - Cairns Cupboards & Desian Director of Economic Development Paul Steinman informed the EDA of the request for a $50,000 Micro Loan by Cairns Cupboards & Design. Paul stated that the EDA Micro Loan Committee met February 4, and did not make a specific recommendation for the EDA to consider due to the preliminary nature of the request. Paul indicated that if the application proceeds as planned, staff will bring the request back to the loan committee for a recommendation, and then to the EDA in March or April. 7. Discuss Concept for Post Office Relocation e Director of Economic Development Paul Steinman stated that staff has proposed to the postal service that they consider purchasing the west business park lot of approximately 4.5. acres which is owned by the EDA. He indicated that the warehousing and distribution operations could be constructed on this site with the retail operations being maintained in the central business district. Paul indicated that the postal service has requested that the EDA complete an "Offer to Sell Real Property" form, that would formalize the EDA's offer to sell its property for this purpose. He stated that staff is proposing that the lot would be available for purchase by the postal service at a sale price of $200,000, the same price that the EDA paid in December 1997 with certain contingencies regarding location of their retail services in the downtown area - King and Main specifically. COMMISSIONER KLINZING MOVED TO PROCEED WITH THE EXECUTION OF THE OFFER TO SELL REAL PROPERTY CONTAINING A 60 DAY TIME LIMIT AND A SALE PRICE OF $200,000 WITH THE CONDITION THAT THE POSTAL SERVICE MAINTAIN RETAIL PRESENCE IN THE DOWNTOWN CENTRAL BUSINESS DISTRICT. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 6-0. 8. Other Business 8.a. Update - Process of HirinQ ED Assistant Director of Economic Development Paul Steinman updated the EDA on the progress of the hiring of an ED Assistant. He indicated that the Jim Brimeyer Group has received 15-18 applications for the position. Paul stated that following the cut-off date of 2/15, staff will move forward with the interviewing and selection process. 8.b. Update - Future EDA Meetinas: Strateaic Plannina - March, Business Incubator Review - April e