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