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ITEM # 6. <br />MEMORANDUM <br />TO: Economic Development Authority <br />FROM: Catherine Mehelich, Director of Economic Development ~/~ <br />DATE: November 13, 2007 "` <br />SUBJECT: Update on Entertainment Center Project <br />Following the EDA's direction at its October meeting, staff has been working with Energy <br />Entertainment Enterprises, LLC to conduct the site and financial feasibility analysis for the <br />proposed hotel, bowling, entertainment and conference center project in the Gateway <br />Business Center area. Staff has been working with the developer to refine the site plan <br />concept, evaluate the request for financial assistance, and draft a letter of intent for the sale <br />of city-owned land, with the understanding that these items would be presented for <br />consideration by the EDA at an upcoming meeting in order to meet the developers desired <br />timeframe. <br />Staff will provide a verbal update on the status of this project at the EDA meeting. <br />S:AEDA\LAND\Gateway Business Center\Entertainment CenterA11.13.07 eda update.doc <br />