11-10-2008 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 2 November 10, 2008 5. Consider Micro Loan Extension -Lake Assault Custom Boats LLC Ms. Mehelich presented the staff report. She noted that the EDA Finance Committee met and recommended approval of the two-year extension on the Lake Assault micro loan at a 6.5% market interest rate. Commissioner Tveite explained he supports approval because he believes Lake Assault Custom Boats has refined their market plan and found their niche in providing custom boats to government entities. MOVED BY COMMISSIONER MOTIN AND SECONDED BY COMMISSIONER TVEITE TOAPPROVE ATWO-YEAR EXTENSION ON THE LAKE ASSAULT CUSTOM BOATS MICRO LOAN AT A 6.5% MARKET RATE INTEREST AND FIXED MONTHLY PAYMENTS OF $606.64 SET UP ON AUTOMATIC WITHDRAWALS. THE MOTION CARRIED 6-0. Review and Discuss 171St Focused Area Stuff Proposals The EDA interviewed the following four firms in order to discuss their proposed Scope of Work to perform the 1715L Avenue Focused Area Study: ^ LHB Corp (Michael Schroeder) ^ Landform (Kendra Lindahl and Benjamin Sporer) ^ Cuningham Group (Andrew Dresner) ^ Hoisington Koegler Group (Paul Paige, Bryan Harjes, and Bruce Chamberlain) Discussion took place on the firms and members of the EDA discussed their choices. The top two choices were Cuningham and Hoisington Koegler Group. MOVED BY COMMISSIONER TVEITE AND SECONDED BY COMMISSIONER FARBER TO ENGAGE HOISINGTON KOEGLER GROUP TO PERFORM THE 171sT AVENUE FOCUSED AREA STUDY AT A COST NOT TO EXCEED $58,400 PLUS $1,500 EXPENSES WITH DIRECTION TO STAFF TO NEGOTIATE A MORE ADVANTAGEOUS PRICE IF POSSIBLE. MOTION CARRIED 6-0. Commissioner Motin indicated that a landowner in the 1715[ Avenue area has commented that he has the access necessary develop his property and he does not want to wait until the Focused Area Study is finished. Commissioner Motin stated he would like to consider a possible moratorium on the entire study area with the exception of the Northstar Business Park area. Ms. Johnson indicated this item can be added to the November 17, 2008 Council agenda for discussion and the City Attorney can be directed to draft a resolution for the moratorium. Other Business There was no other business.