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EDA MINUTES <br />DRAFT <br /> <br /> <br /> 1 <br />DATE : November 14, 2022 1 <br />TIME STARTED : 6:55 p.m. 2 <br />TIME ENDED : 7:05 p.m. 3 <br />MEMBERS PRESENT : EDA Members Rafferty, Stoesz, 4 <br />Cavegn, Ruhland 5 <br />MEMBERS ABSENT : EDA Member Lyden 6 <br />OTHERS PRESENT : Community Development Director 7 <br />Michael Grochala; City Administrator 8 <br />Sarah Cotton; City Clerk Julie Bartell 9 <br /> 10 <br />The meeting was called to order at 6:55 p.m. by EDA President Ruhland 11 <br /> 12 <br />CONSIDERATION OF THE MINUTES OF OCTOBER 10, 2022 13 <br /> 14 <br />Economic Development Authority (EDA) Member Rafferty moved to approve the 15 <br />minutes of October 10, 2022 as presented. EDA Member Stoesz seconded the motion. 16 <br />Motion carried on a voice vote. 17 <br /> 18 <br />ACTION ITEM 19 <br /> 20 <br />3A) A. Consider Amendment to Purchase and Development Agreement with 21 <br />Silver Creek Equity, LLC. , Lots 1-3, Outlot B & C, The Village No. 4 – Community 22 <br />Development Director Grochala reviewed his written report. Noting elements of the 23 <br />agreement in place regarding this property, he explained that the developer is requesting 24 <br />amendment of the terms to allow multi-family development to begin prior to commercial 25 <br />being committed and some future consideration for removing the requirement for 26 <br />commercial use. The request is to amend the purchase agreement to allow time and 27 <br />during that time staff will work with the development team on specific amendments for 28 <br />consideration. Director Grochala reviewed some possible changes that will be discussed. 29 <br />The developer and architect were present. 30 <br /> 31 <br />EDA Member Stoesz asked about the 45 day allowance requested; would 90 days be 32 <br />more appropriate? Mr. Grochala said he anticipates having something back in 45 days 33 <br />for council consideration. 34 <br /> 35 <br />EDA President Ruhland asked what would happen if the deadline passes – could permit 36 <br />issuance be tied to the timeline. 37 <br /> 38 <br />The developer noted satisfaction with the proposed timeline. They will work hard to get 39 <br />the retail and there is time allowed for that. 40 <br /> 41 <br />EDA Member Cavegn noted a previous meeting comment that if commercial isn’t 42 <br />interested after five years from occupancy, they probably will not be. 43