HomeMy WebLinkAbout05-11-10 EDA Minutes ECONOMIC DEVELOPMENT AUTHORITY
MAY 11, 2010
MEETING MINUTES
1. Call to Order /Approval of Agenda: President Abrahamson called the meeting to order
at 7:00 p.m. Present: Vice- President Beaudet, Secretary McComber, Treasurer Runk,
Assistant Treasurer Holst, Board Member Swenson, Attorney Vierling, City
Administrator Johnson, and Administrative Secretary Pinski. Absent: None.
Vice - President Beaudet, seconded by Secretary McComber, moved to approve the
Agenda. Carried 5 -0.
2. Approve Meeting Minutes — March 9, 2010: Secretary McComber, seconded by Vice -
President Beaudet, moved to approve the minutes. Carried 5 - 0.
3. Review Initial Findings by Rusty Fifield — Northland Securities: The board reviewed
a report provided by Rusty Fifield. Mr. Fifield reported that the report identified two
target properties: the former Ford site and the former GMC site.
Vice - President Beaudet, seconded by Member Swenson, moved to identify Target 1 as
East Site and Target 2 as West Site. Carried 5 -0.
• Mr. Fifield reported that the most powerful tool for the City would be Tax Increment
Financing. He stated he called the realtor for the East Site and was informed that they
have received offers and are confident the property will be redeveloped. He stated he did
not call on the West Site.
Mr. Fifield reported that the next step would be for him to talk with developers and report
back to the council.
Treasurer Runk, seconded by President Abrahamson, moved that Rusty Fifield continue
to progress with conversations with developers. Carried 5 -0.
4. Adjourn: Treasurer Runk, seconded by President Abrahamson, moved to adjourn the
meeting at 7:35 p.m.
Respectfully .ub ` ' • - d,
r ,
- er Pinski
Administrative Secretary/Deputy Clerk
•