Laserfiche WebLink
<br />Elk River EDA Minutes <br />Julv 10. 2000 <br /> <br />Page 3 <br /> <br />e <br /> <br />would have to be returned to the county for distribution. She noted that the <br />current fair market value of the property is estimated at $218,500. <br /> <br />Cathy Mehelich reviewed the development proposal submitted by Gary <br />Santwire. She explained that the development proposal requests the EDA to <br />subdivide the lot into two approximately equal size lots with the north lot being <br />sold for $1 to Equity Management and the south lot being sold for $1 to Dave and <br />Carol Riplinger (Track of the Wolt Inc.) <br /> <br />Commissioner Klinzing questioned the reasoning of subdividing the property into <br />two equal lots when one of the buildings is going to be larger than the other. <br />Cathy Mehelich explained that the lots would be subdivided in proportion to the <br />building sizes in the final proposal. <br /> <br />Commission Motin questioned the issue of the city having the property <br />earmarked for a future fire station. He noted that he wanted to be assured that <br />the city has other property available for the fire station. <br /> <br />COMMISSIONER FARBER MOVED TO AUTHORIZE STAFF TO PROCEED WITH THE <br />DEVELOPMENT PROPOSAL FROM GARY SANTWIRE, RIVERS CROSSING, INC., WITH <br />THE FOLLOWING ACTIONS: <br /> <br />1. A PUBLIC HEARING BE CALLED FOR THE SALE OF THE EDA PROPERTY. <br /> <br />2. <br /> <br />THE DEVELOPER PROCEED WITH THE SUBDIVISION OF THE PROPERTY INTO <br />TWO LOTS AND TO DRAFT PURCHASE AGREEMENTS FOR SALE OF THE <br />PROPERTY. <br /> <br />e <br /> <br />3. A PUBLIC HEARING BE CALLED FOR GRANTING BUSINESS SUBSIDY <br />ASSISTANCE TO EQUITY MANAGEMENT, INC., IN AN AMOUNT OF OVER <br />$100,000 AND DRAFT NECESSARY AGREEMENTS. <br /> <br />4. A PUBLIC HEARING BE CALLED FOR GRANTING BUSINESS SUBSIDY <br />ASSISTANCE TO DAVID AND CAROL RIPLlNGER (TRACK OF THE WOLF,INC.) <br />IN AN AMOUNT OVER $100,000 AND DRAFT NECESSARY AGREEMENTS. <br /> <br />COMMISSIONER GONGOLL SECONDED THE MOTION. THE MOTION CARRIED 7-0. <br /> <br />8. Other Business <br /> <br />Assistant Director of Economic Development Marc Nevinski informed the EDA that <br />Vertical Publishing will be moving into the Business Incubator this week. <br /> <br />Executive Director Cathy Mehelich informed the EDA that a joint open house is <br />being planned with the Chamber of Commerce to give the business people an <br />opportunity to meet the new business development team; Chamber Director and <br />City's Director of Economic Development. <br /> <br />e <br />