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ITEM # 7. <br />fiver <br />MEMORANDUM <br />TO: Economic Development Authority <br />FROM: Catherine Mehelich, Director of Economic Development~~ <br />DATE: November 13, 2007 <br />SUBJECT: Update on Fine Dining Restaurant Project <br />Following the EDA's direction at its October meeting, staff has been working with Umbria <br />- La Cucina Italiana, the developer of the proposed Assisi/Level fine dining and night club, <br />to evaluate their request. The developer has requested from the EDA a letter of intent for <br />the EDA's purchase of the post office property identified as Lot 1, Block 1 Mulvaney Point, <br />Elk River, with the intent to transfer the property with financial assistance to the developer <br />in order for the proposed project to be constructed on the site. <br />Staff will provide a verbal update on the status of the project at the EDA meeting. <br />S:AEDA\LAND~Ivlulvaney Point\11.13.07 EDA Update.doc <br />